Placement in a Law Firm Essay Example | Topics and Well Written Essays - 250 words

Placement in a Law Firm - Essay Example In regards to short-term goals, I have an objective to develop an ambitious personality  skills. To achieve the goals, I would enhance my interaction with the learning experience. This could be achieved through participation in classroom activities and conducting research on course requirements (Niles & Harris-Bowlsbey, 2002). Before graduation, one should possess full academic qualification and understanding on their career requirement. The two objectives could be achieved by ensuring that one takes part in all learning activities and completed all course subjects. Completion of the course effectively would enable a person to develop an understanding of their career requirements. Long-term goals are based on the ability to possess a complete understanding of career requirements and putting them into practice at the organization level. Two years after graduation, my goals would be to have worked in a law firm and achieved a total understanding of my career (Hazard & Dondi, 2004). W orking in a law firm may be on an internship basis. This experience would increase my understanding of the career (Sealy & Hooley, 2003).

The term Civilization Essay Example for Free

The term Civilization Essay Civilizations are complex societies with cities, government, art, architecture, religion, class divisions and writing systems. To uphold an effective civilization, cultural diffusion, farming and writing with a spoken language are essential. Cultural diffusion is a key element to maintaining a complex civilization. When people from different civilizations came into contact with one another, they learned from one another. They would learn how other people from different societies did things and all their different and new inventions. They would bring this new understanding back to their cities and villages, which usually brought them back security and prosperity for the future. The transition from hunting and gathering to farming was a huge factor in a well-held civilization. This change was known as the Neolithic Age. Farming at this time gave people an appointed community and an abundance of food. Farmers were able to gather into a heap more occupations than their hunter and gatherer ancestors. This is because they stayed in one place and didn’t have to go and search for a food source. Farmers had to develop new tools to farm effectively. They had to keep track of their crops and also protect them. Mesopotamians commerced and operated in large cities and towns. They depended on irrigation farming and trade was a big way with archaeology. The rule for the Mesopotamians was patriarchy. Women usually ruled over men in this ancient society. Hebrews played a small role in trade between the Nile and the Mediterranean. Their economy was pastoral. Ancient civilizations helped discover a lot of what the world is today. Cultural diffusion, the transition from hunting and gathering to farming and ancient society made a huge impact from ancient civilizations to today’s society.

GM Financial Overview Essay -- GCSE Business Marketing Coursework

GM Financial Overview Introduction The General Motors Corporation is a multifaceted company but its primary function is the manufacturing of automobiles and light trucks (SIC 3711). The General Motors stock is listed on the New York Stock Exchange and has approximately 1,426,592,046 outstanding shares on the marketplace, as of 10/14/2001. It is headquartered in Detroit Michigan with offices around the world. General Motors has many other operations besides automobile manufacturing including: General Motors Acceptance Corporation Financial Services, Hughes Electronics Corporation, and the GM Locomotive Group. (Disclosure.com) Financial Statement Analysis Overall, General Motors has had five profitable years with increasing sales during the same period. GM has also paid a fixed dividend to its shareholders over the same period. The one-year, which was below average for GM, was 1998. During this period, GM was restructuring its top management and operations and also incurred a union strike of 54 days. However, GM did return to better performance in 1999 and 2000. GM overall was able to attain a fixed dividend of $2.00 per share and increase the shareholders value over the past five years. The first observation from the financial data in appendix one is that General Motors has a low profit margin and is generally less than the industry average each year. The firm is able to keep a low profit margin because they have such high sales volumes throughout the world. This strategy can be both an asset and liability in business planning. The plus side of the strategy is that GM is able to sell a large number of vehicles in the marketplace due to the lower selling price as compared to the competitor. However, the down side of the strategy is that there is a possibility that if sales volumes decrease, the firm can incur a significant decline in the EPS because the profit margin on each item sold is very low. If the global economy sours, GM can have a very difficult time meeting shareholder expectations. Another observation is that GM looks to use more debt financing that equity financing for funding their activities. The debt to equity ratio has steadily decreased over the past five years and is higher that the industry average. Also, the current and quick ratios are much lower than the industry averages. This again can pose so... .... 1996 edt. (1997) (page 320). Murray Hill, NJ: Dun & Bradstreet. Dun & Bradstreet. Industry Norms and Key Business Ratios. 1995 edt. (1996) (page 327). Murray Hill, NJ: Dun & Bradstreet. General Motors Corp. (2001, October 14). Retrieved on October 20, 2001 from www.disclosure.com. General Motors Corporation 1998 Annual Report. (1998). (pp. 55 – 83). General Motors Corporation 1999 Annual Report. (1999). (pp. 53 - 93). General Motors Corporation 2000 Annual Report. (2000). (pp. 41- 79). Standard & Poor’s. General Motors (GM). (1999) Standard Corporation Descriptions. (pp. 6000 – 6003) New York, NY: McGraw-Hill. Troy, PhD., Leo. Almanac of Business and Industrial Financial Ratios. 32nd edt. (2001) (page 159) Paramus, NJ: Prentice Hall. Troy, PhD., Leo. Almanac of Business and Industrial Financial Ratios. 31st edt. (2000) (page 159) Paramus, NJ: Prentice Hall. Troy, PhD., Leo. Almanac of Business and Industrial Financial Ratios. 30th edt. (1999) (page 159) Paramus, NJ: Prentice Hall. Troy, PhD., Leo. Almanac of Business and Industrial Financial Ratios. 29th edt. (1998) (page 159) Paramus, NJ: Prentice Hall.

Viola’s Gender Roles in Twelfth Night

The fluidity and ambiguity with which Viola presents gender is central to the drama of Twelfth Night. But to what extent are Viola's gender roles essential to the comedy of the play? The arrivals of Viola and Sebastian in Illyria serve as the catalysts for drama in Twelfth Night. The presence of twins of different sexes yet identical in appearance is a dramaturgical device crucial to the comic resolution, whilst being somewhat farcical.It is the misunderstandings which Viola’s cross-dressing inevitably causes which make her inverted gender roles so essential to the comedy of the play. Through her disguise, she assumes typically male roles such as of the ‘fool’, and the comic value of her double identity is heightened through the questioning of the gender conventions of Shakespearean theatre.Yet, Viola’s disguise brings with it a strain of melancholy, lessening her assumed gender roles’ comic impact on the play. Viola’s cross-dressing subverts normality in the respect that she abruptly assumes typically male roles such as that of the Fool. Her first meeting with Olivia as a messenger of Orsino’s love is marked by her different approach to courtship.She launches into a preprepared speech of compliments with a poetic apostrophe: ‘most radiant, exquisite and unmatchable beauty’, only to break into prose to check that she is indeed speaking to Olivia. Viola’s repeatedly her speech as conventionally courtly, as it is ‘excellently well penned’ and ‘tis poetical’; yet, these comments essentially refer to its artificiality.In fact, juxtaposed to the opening of the play, this whole meeting is a parody of Orsino’s clichà © approach and indeed the conventions of courtly love. Viola deflates the romantic pretensions of Orsino’s embassy, and such ridicule of the ‘male archetype’ by a woman is highly comical for its suspension of the accepted inferiority o f women in society.Yet, somewhat more absurd is the fact she has also unintentionally assumed his positions of Olivia’s courtier and indeed of a character of great power and superiority, as her actions free both Orsino and Olivia of their rigidity. Furthermore, it is such witty manipulations of others that prove her to be a kind of fool.Act Three Scene One is marked by Viola and Feste’s repartee of attempts to surpass each other’s wit; Viola’s reply to Feste’s comment ‘Now Jove in his next commodity send thee a beard’ is ‘I am almost sick for one, though I would not have it grow on my chin’. Both comments are pointed references to gender and are thus dramatic irony;Feste’s taunting of Cesario’s lack of virility may also serve as a comical meta-theatrical reference to the boy actor playing Viola. However, there is a degree of pathos to Viola’s admission, as the beard she desires if not her own is surely that of Orsino; thereby, she emphasises the complications of her disguise in pursuing her love interest.Yet, most prominent is Viola’s parallel to Feste as a Fool. They have a mutual appreciation of each other’s wit, as Feste comments: ‘I think I saw your wisdom there’, whilst Viola appreciates the intelligence behind his foolery: ‘for folly that he wisely shows is fit†¦Ã¢â‚¬â„¢ She realises the irrationality around her and employs it to her advantage in choosing to cross-dress. Certainly, the whole nature of her disguise itself questions the gaps of seeming, being and knowing, of which the Fool typically explores. Such challenges to male roles make her gender ambiguity amplify the comedy of the play.Viola was played by a boy actor under the conventions of Shakespearean theatre, and this physical fact adds a level of confusion heightening the comedy of her gender roles. Such misplacement is denounced by Olivia’s remark in Act One: Ã¢â‚¬Ë œyou are now out of your text / but we will draw the curtain and show you the picture’ and certainly by the repeated allusions to Cesario’s femininity, such as Orsino’s remark on her appearance: ‘all is semblative a woman’s part’.Olivia’s unveiling is a pivotal moment as it represents the end of the mourning for her dead brother and essentially ‘allows’ the comedy to commence for the audience. It is an ironic act to a character ‘veiled’ herself, and meta-theatrical reference of ‘curtain’ indicates the misplacement of the actor of Viola as much as the character.For as much as her disguise is her own ploy, it is Shakespeare’s dramatic device. Orsino taunts Cesario for his lack of virility, yet he may also be commenting on the male actor’s credibility for the ‘part’ of a woman. No matter how convincing the boy actor was playing Viola, the audience is continually aware that there is a male body under the disguise of a woman and thus a double sex reversal is taking place in Viola’s disguise.Yet, the ‘curtain’ could be symbolic of the uncovering of much more radical approaches than the conformities of Elizabethan theatre. Much of the play’s comedy comes from Shakespeare’s trifling with homosexuality. In Elizabethan England, the idea of such relationships would have been unusual and considerably more absurd than a modern audience may appreciate.The misunderstandings caused by  Viola’s cross-dressing are the root of what audiences of the day would have seen as comic ambiguity. The audience knows Olivia unwittingly desires a woman when she is drawn to the young servant, and we see the relationship between Orsino and Cesario develop throughout the course of the play; indeed, some modern productions show the bond between them in overtly homosexual terms to heighten the comedy. In keeping with the conventions of Eliza bethan comedy as a whole, the play resolves in heterosexual marriage; yet, despite references to Viola in female clothing, this never actually happens.Orsino’s parting lines are: ‘Cesario, come – / For so shall you be while you are a man’. Distinct references to her male alias yet none of her feminine form still denote a comic male to male relationship. For, whilst the fact the use of a male actor for Viola is humorous in itself, it is the radical implications of this role which make Viola’s character so vital to the comedy of Twelfth Night. However, despite the obvious comic implications of her disguise, from Viola’s double identity arises sexual conflict and the potential for tragedy.In her aside at the end of Act 2 Scene 2, she sympathises with Olivia, remarking ‘poor lady, she were better love a dream’, emphasising that as an object of Olivia’s desire she is unattainable. She understands because as Cesario her love for Orsino cannot be reciprocated. He insinuates her gender ambiguity in the previous act: ‘For they shall yet belie thy happy years, / That say thou art a man’. For whilst the disguise grants her access to both parties, the price she pays is the loss of any gender identity, as she cannot be a woman to Orsino or a man to Olivia .She frequently alludes to her gender disparity, such as when Olivia confesses her love in Act Three Scene One, as Viola’s reply is: ‘I am not what I am.’ Her response is dramatic irony at its most explicit and effectively summarises the extent of her travesty in inciting Olivia’s affections. However, this statement is typical of her expression throughout the play; such evasions and wordplay are because she cannot speak of her real self.To the audience, it is somewhat striking that her real name is not pronounced until the very last scene, when Sebastian greets her: ‘Thrice welcome, drowned Viola.’ The playâ⠂¬â„¢s resolution aligns with the conventions of comedy in settling misunderstandings and proving a ‘happy ending’; there is no sense of Viola’s individual identity until the reunion with her brother, when correct gender roles are asserted.However, the tragedy of her  character is heightened further by the fact Orsino does not even mention her real name in his parting line. Overall, while some critics argue Viola is the most developed of the characters in Twelfth Night, for she is not constrained to a stock character, this inevitably adds an oblique side.Her gender roles may heighten the comedy, but the emotional toll of the disguise which she calls a ‘wickedness’ should not be ignored, and detract her from the role as a simple asset in the play’s comedy.To conclude, the inversion of her gender roles is radiant of the ‘carnival spirit’ so prevalent in Twelfth Night. We see that the play’s comedy is very much enhanced by V iola’s cross-dressing, in as much the gender conventions her masquerade breaks as the inevitable misunderstandings.However, we see also that cross-dressing has certain tragic implications, true to the nature of comedy harbouring a dark underside. Thus, her gender roles are to a limited extent essential to the comedy of the play.

Government Regulation of Tobacco Products Essay

Read the Government Regulation of Tobacco Products Discussion Case at the end of Chapter 8 in your text. In one to two pages, supported by evidence from your text and from other research, answer the following questions: Would you describe the orientation of Reynolds toward tobacco regulation as cooperative or at arm’s length? How about the attitude of Altria? What do you think explains the differences between the two companies’ positions? What public policy inputs, goals, tools, and effects can be found in this discussion case? Carefully review the Grading Rubric for the criteria that will be used to evaluate your assignment. Make sure you schedule dedicated study time every day. Even though you may find other things to do, make sure to find time to study. Promise yourself that you will study for one hour each day. If you feel confident in your understanding of the subject, you should still use that time to study. This smart habit will help you to stay focused when your workload gets heavier later in your college career.

Directing the Engagement Party of Sheila and Gerald Essay Example

Directing the Engagement Party of Sheila and Gerald Essay Example Directing the Engagement Party of Sheila and Gerald Essay Directing the Engagement Party of Sheila and Gerald Essay In this essay I am going to direct act 1 the engagement party of Sheila and Gerald At the beginning its a engagement party of Sheila and Gerald. They are very posh people. I would send to every one and an engagement card to invite the people for the party and I would make big hall for the party night and I would put some balloon and staff on the walls. I would a big light at the middle of the ceiling and some small lights at the wall and I would make two lights on Sheila and Gerald. I would make a big cake and a lot of small candles on the top of the cake and I would make up the bride nicely and the dress I would make it white I would make a black suit for Gerald. I would order two gold rings of the engagement. I would make the hall big enough for the all people and I would make enough chair and tables for the all people. I would tell every men to wear a black suit and women to wear anything they wants would put champion and drinks and food in each table. I would make Sheila a bit nervous because she saw Gerald after a long time. I would make Gerald a bit young man about age of 25 and Sheila would be at age of 23 thats the best age for the engagement. And I would make the party until late night. Now I would tell Sheila and Gerald to bush the candles on which are on the top of cake and when the inspector calls every one get scared and the party become horrible I would put some horrible music on every would be looking at each other at the end of party I will tell Gerald and Mr birling to stay out side of the house speaking with each other about inspector and its a dark place because no one can hear them. At the ending I would tell all the guest to leave and I would let the family to stay alone for inspector to come and their would be scared and I will slowly slowly turn all the lights off and the first part act one will be finished.

Free Essays on United Nations

When thinking of international actors, states come to mind for many. However, international actors can be most simply defined as any person, organization, or territory that has any economic or political influence on international affairs. Many intergovernmental and nongovernmental organizations are international actors. Founded in 1945, the United Nations is one of the best known of intergovernmental organizations and is most definitely an international actor. The composition of the United Nations is quite simple. There are 185 member countries in the United Nations and, in the General Assembly, each member has one vote. The Security Council is made up of five permanent members (United States, Russia, France, United Kingdom, and China) and ten members that serve two-year terms. The Economic and Social Council is composed of 54 members, serving three-year terms, each with one vote. The Trusteeship Council has five members, each with one vote. Fifteen judges head the International Court of Justice, each serving a nine-year term. Finally, there are many associated agencies, including the World Heath Organization, the World Bank, and the Food and Agricultural Organization. For the most part, the United Nations is very democratic; however in, for example, the Security Council, the five permanent members could overrule the majority with a simple veto. This organization is structured like governments in many countries and makes decisions affecting most of the world, therefore, the United Nations is an international actor. One of the United Nations’ foremost goals is to promote international cooperation, peace, and security. This effects many countries both politically and economically; it strives to prevent international conflict, limit the severity of the violence if it does occur, and restore peace in the aftermath. It is the belief of the United Nations that military force should be used only in self-defense, and is ... Free Essays on United Nations Free Essays on United Nations Thesis The United Nations is not the answer to all of the world's problems; however, there are too many acts against humanity to be ignored. No single state or alliance has the ability to prevent these acts from taking place without making the condition worst. Because of all this a world organization must be set up to protect mankind from ourselves. The United Nations is the largest organization trying to keep these heinous crimes from taking place on a global level. I plan to show why the United Nations is useful today through the diamond conflict in Sierra Leone, and also what could improve the United Nations. About the United Nations The United Nations was established in the aftermath of a devastating war to help stabilize international relations and â€Å"give peace a more secure foundation†. On 25 April 1945, representatives of 50 countries met in San Francisco at the United Nations Conference on International Organization to draw up the United Nations Charter. The charter committed to preserving peace through international cooperation and collective security. Today, nearly every nation in the world belongs to the UN its membership totals  HYPERLINK "un.org/Overview/brief1.html" l "footnote#footnote" 191 countries united â€Å"to advance the cause of human rights in practice terms: the right of life, the right to equality before the law, the right of freedom of opinion and expression and of arbitrary arrest and detention, the right to education, the right to work, the right to health, freedom of hunger, and all other human rights and fundamental freedoms.† The United Nations consists of six principal bodies: General Assembly; Security Council; Economic and Social Council; the Trusteeship Council; the International Court of Justice; and the Secretariat. In addition, there are 14 specialized agencies working in areas as diverse as health, finance, agriculture, civil aviation and telecommunications, linked... Free Essays on United Nations When thinking of international actors, states come to mind for many. However, international actors can be most simply defined as any person, organization, or territory that has any economic or political influence on international affairs. Many intergovernmental and nongovernmental organizations are international actors. Founded in 1945, the United Nations is one of the best known of intergovernmental organizations and is most definitely an international actor. The composition of the United Nations is quite simple. There are 185 member countries in the United Nations and, in the General Assembly, each member has one vote. The Security Council is made up of five permanent members (United States, Russia, France, United Kingdom, and China) and ten members that serve two-year terms. The Economic and Social Council is composed of 54 members, serving three-year terms, each with one vote. The Trusteeship Council has five members, each with one vote. Fifteen judges head the International Court of Justice, each serving a nine-year term. Finally, there are many associated agencies, including the World Heath Organization, the World Bank, and the Food and Agricultural Organization. For the most part, the United Nations is very democratic; however in, for example, the Security Council, the five permanent members could overrule the majority with a simple veto. This organization is structured like governments in many countries and makes decisions affecting most of the world, therefore, the United Nations is an international actor. One of the United Nations’ foremost goals is to promote international cooperation, peace, and security. This effects many countries both politically and economically; it strives to prevent international conflict, limit the severity of the violence if it does occur, and restore peace in the aftermath. It is the belief of the United Nations that military force should be used only in self-defense, and is ...

Why Diverse Teams Are More Successful

Why Diverse Teams Are More Successful Diverse teams are smarter, deeper and more effective than usual ones. The secret is on the surface. Diversity is the condition of being composed of different elements and is often referred to people. The types of diversity can vary according to the age, religion, race, culture, and abilities. Recently Credit Suisse conducted the research â€Å"The CS Gender 3000: Women in Senior Management†. Since 2012 the company’s research team has been analyzing the gender diversity and corporate management. The report shows that the companies with more women in the boardroom bring better results on stock markets. â€Å"Why Diversity Matters†, another report on diversity prepared by Mckinsey in 2015, shows that companies committing themselves to diversity in leadership are more effective and successful. The non-homogenous staff is believed to improve their customer orientation and decision making. The report found that ethnic and racial diverse managers are 35% more likely to have financial returns above the industry mean. A BETTER WAY TO UNDERSTAND TEAMS AND ROLES Why Is Diversity Important? Employees with diverse backgrounds may change the behavior of the whole group. This change may be different, positive and negative. In the USA even mentioning the word â€Å"diversity† may lead to conflict. It’s because a strong idea of inclusion that everyone should be able to use the same facilities, enjoy the same experiences and take part in the same activities. American companies tend to spend millions to manage workplace diversity issues, but yet they still having lawsuits on discrimination. But it is reasonable to dig into what importance of diversity is and what good it does. If you want to create a team capable of outside-the-box thinking and innovating you should bring a diversity in it. Diversity is considered to change the way a group of people thinks. When different people are brought together to solve the problem, they express their opinions and thoughts on the matter. And there may be the difference in these opinions as to the ways of solving the problem. Diverse teams are more objective and are constantly reexamining the facts. Analyzing Information Diverse teams process and analyze facts and information more accurately to make the right decision. In the study published in the Personality and Social Psychology Bulletin in Northwestern University by Katherine Phillips, a team was divided into 2 groups of members: the first one with the out-group newcomers and the second with newcomers. Both groups were to read the interviews conducted by the detective who investigated a murder and to find out who the suspect was. It turned out that the second group was more accurate of a joint decision. This research showed that diverse groups may outperform the homogeneous ones in discussing, problem-solving and decision making. Teams with any, gender, racial or cultural diversity work harder both socially and cognitively. Diverse groups of people exchange a wider range of data, they are better at considering the facts, they assume that they need to work harder to come to a consensus. Globalization demands more interaction among people from diverse backgrounds. Since the diversity in the workplace shows strong potential to improve collective work and yield productivity, bringing it to the companies become a key to effective management. A diverse team in your company may become the reflection of the rapidly changing marketplace and the world. MANAGING CONFLICT IN GROUPS If you are assigned to write an essay on any type of diversity this sample essay will be useful to read and determine the main issues to focus on. If you have no time to write on your own feel free to contact our professional writers and place an order.

Operations Management of BP Plc (British Petroleum) Essay

Operations Management of BP Plc (British Petroleum) - Essay Example It also transforms capital into goods and services. Operational management allows firms, and companies to come up with strategies that help companies deal with new market entrants and main competitors. Each company has a distinct way of dealing with its operations (Merz & Sauber1995). Many companies come up with distinct names for their departments. BP is a multinational company which has a vibrant operational and management department. Problem definition BP has come under intense pressure due to competition from other major oil producing companies. The company needs to reinvent itself in order to maintain its profitability. BP is known to produce large amounts of oil. However, the large amounts of oil are not reflected in the amounts of revenues generated. The company is also facing the threats that range from new entrants to the established oil companies. There is need to consider the strategies that are needed to keep the company economically viable and competitive. Body BP Amoco is a leading oil industry aims at supplying petroleum products to its international marketplace. Operation administration has become an essential tool in the oil industry management techniques. Operation management makes sure these industries adhere to quality of work. BP also known as BP Amoco is located in London (Wulf 2012). It is a globally established petroleum and oil firm. The company began in 1901. The company was used in all exploration and was a source of oil for the royal navy (Business Week 2012). The company was founded by William Knox and found oil for the first time in 1908. In 1917, the UK administration became in charge of the industry, and planned to rename it to B P (Business Week 2012). BP expanded its market in the entire Europe and later merged with American Oil Company (AMOCO). BP has been using high quality operational management skills with have been the reason behind the firm’s success. BP is in service in over a hundred countries on to serve the int ernational market. BP focuses on drilling and discovering oil around the world (Scarborough & Spatarella1998).BP is paying attention to quality products. BP is setting achieve goals with a clear timeline. The company is closing down branches are considered to have declining revenues. Attention is paid to products which are consumer friendly. This has caused BP to rebrand and the initial step to create incentives to employees and to attract customers. BP is measuring quality and productivity through amount generated per barrel. The company explores unfinished lubricants, natural gas, refinement, distillation, selling, and delivery, along with manufacturing petroleum products (The Economist 2011). The company

Women in James Bon films from a feminist perspective Essay

Women in James Bon films from a feminist perspective - Essay Example Some of the Bond women and Bond female characters are now seen as more than sexual interest for the lead character, but as characters also toting guns, karate chops, heroism, and villainy (Garland, 2009). Still, Bond women are viewed in general by society as simply entertaining eye-candy. This paper shall present an analysis of women in James Bond films from a feminist perspective, using some of the thoughts laid out by feminist philosopher Luce Irigaray. An analysis of the evolution of these female roles shall also be evaluated, mostly determining how the perspectives have changes and how feminism has impacted on how these female roles have been portrayed in the films. According to Jenkins (2005), the James Bond films have a persistent appeal based on the fantasy world from its parade of attractive female Bond characters. Such distinct female roles are often crucial to the story being told including the overall feel of these films. Each Bond movie has numerous female characters who are usually meant to distract and also help Bond in his spy mission. More often than not, there is one distinct, strikingly beautiful and, svelte Bond girl who is presented as a potential love interest for Bond; she is usually cunning, and judging from the name she goes by (Pussy Galore, Honey Ryder, Holly Goodhead), also self-assured (Rubin, 2003). Bond girls have become a staple in Bond movies and the casting of such female role has often attracted major global attention, with the chosen female often gaining much media attention even before the films start to shoot (d’Abo and Cork, 2003). The dominant preference of the Western culture for the lead female charac ter in the Bond films to comply with such attractive and often sexist parameters have been viewed by feminists with much disdain (Carpenter, 2000). Through the many incarnations

Proposal Essay Example | Topics and Well Written Essays - 1750 words

Proposal - Essay Example With increase service activities, it is but vital for this four Ps to be addressed within the service sector. For the greatest communication impact, Kotler, (2003) argued that the entire marketing mix must be carefully coordinated for greatest success. Against this background, this research seeks to answer the following questions With previous work experience and knowledge in the hotel industry, I have nested an interest in the sector, especially within the marketing department. The main objective of this paper will be to find out and evaluate the various marketing and promotional techniques adopted by four stars hotels in the London municipality. Other objectives will include As the fight of market shares and quest for product success continue, marketers are employing all the necessary tactics, and methods to give their product a break through, or remain competitive (Brennan, Baines, and Garneau, 2003, Rowley 2004). According Kortler (2002), the marketing communication mix or promotional mix involves specific mix of advertising, personal selling, sales promotion and public relations a company uses to achieve it advertising and marketing objectives. The five major types of promotion are:- Previous research has shown that consumers often use their existing perceptions of a brand to evaluate new offerings such as product or line extensions (Aaker and Keller 1990). Because it appears similar to the original brand, consumers will then transfer attributes of the original brand to the brand imitator, thereby affecting evaluations and purchase decisions. These attributions include, but are not limited to, product quality, performance, reliability, and origin (d Astrous and Gargouri 1999). Francesca Sterlacci, a fashion designer, who heads the fashion design department at New Yorks Fashion Institute of Technology, says that copying is simply a way of life (Karr 2003). In a recent website interview Sterlacci admits that it is â€Å"expensive and

Globalization Research Paper Example | Topics and Well Written Essays - 250 words - 5

Globalization - Research Paper Example Globalization is also beneficial through the improvement of quality services and goods provision. This implies that organizations and businesses strive towards producing high quality services that will attract clients from other countries. The other advantage of globalization is that it facilitates sharing of ideas, skills and expertise from various areas across the world. In universities, students and workers from diverse regions introduce new ideas of solving or handling problems (Karlgaard, 2012). However, globalization also poses challenges to individuals and businesses through the introduction of harmful items such as drugs, explicit materials or goods. This is because visitors come with illegal or harmful items from their countries and introduce the local citizens to them. Globalization is also disadvantageous when it leads to cultural erosion through the emergence of new lifestyle and culture (Walker, Walker & Schmitz, 2003). There are instances when people innovate new languages and habits in order to fit in a system or accommodate each other. Despite the above shortcomings, globalization is an option for businesses since it leads to penetration of new markets, job creation and introduction of technology (Walker, Walker & Schmitz, 2003). The various benefits can improve the performance of businesses in the international arena by offering a wider visibility of the

Ethical Dilemma Essay Example | Topics and Well Written Essays - 1000 words - 1

Ethical Dilemma - Essay Example Clearly, those who remain in good standing achieve many benefits, including income and public recognition. These things are rewards for the achievement and maintenance of high moral and ethical standards. The esteem that derives from membership in an elite group makes professional status desirable. In order to choose the best solutions to the problems identified in two cases, it is important to apply ethical theories and moral standards. As a passenger in version 1, I would pull the lever and save lives of 5 people. This decision is based on utilitarianism referred to by some as the consequentialist ethical theory. It is expressed in the form that asserts that people should always act so as to produce the greatest ratio of good to evil for everyone. as the utilitarian, I believe that when choosing between two actions, the one that produces the greatest net happiness should be the one chosen (Donaldson et al. 2002). Where most of them disagree with one another is in the area of how this principle should be applied. There are also several stated weaknesses in this concept. It ignores actions that appear to be wrong in themselves; it espouses the concept that the end justifies the means; the principles may come into conflict with that of justice seems to associate justice with ef ficiency rather than fair play); and it is extremely difficult to formulate and establish satisfactory rules of application (Bentham 2000). I would pull the lever because it is ethical to save lives of people and choose the decision which benefits the majority. Utilitarianism manifests itself in two major forms. The stronger of the two is so-called act-utilitarianism. Under this system, the moral agent considers the consequences of only the action under consideration. The second system is called rule-utilitarianism. Here the moral agent considers a set of rules by which life should be lived. The basis of accepting or rejecting a rule is whether the consequences of everyone following the rule will result in the maximum probable good consequences. Rule-utilitarianism may be regarded as a weaker form of utilitarianism than act-utilitarianism. A rule-utilitarian, when confronted with a situation in which he believes that abiding by the rule will not in the present case be most beneficial, will simply modify the rule. Great disagreement may be generated over which consequences are in fact "good," which consequences should rec eive greater or lesser weight, and what probability should be assigned to different future consequences. Modern critics of utilitarianism also note that ultimately utilitarianism must seek non-utilitarian answers on assigning boundaries and values around the measurement of activities and values associated with the calculation of utilitarian systems. All these matters serve to cause what appears to be an exceptionally practical system to become less and less practical (Donaldson et al. 2002). As a passenger in version 2, I would not push the person and let him die. These actions would be considered as intentional killing of person and could lead to imprisonment. In terms of deontological ethics, actions should be based on rule-based morality. The approach considers an action as morally right if it conforms with a proper moral rule. An action that violates the rule but results in beneficial actions is still considered wrong. The

Assault Term Paper Example | Topics and Well Written Essays - 1000 words

Assault - Term Paper Example Assault is divided into categories by the crime law, and police or court officials have the power to use force for arresting the offenders committing assault. While some states in United States continue to separate assault from battery, both are commonly combined under a single assault statue according to US common law system. (FreeAdvice, 2011). Simple and aggravated assault form two main categories of assault. Simple assault occurs when an offender puts another person in fear of receiving serious bodily harm or actually causes any kind of harm to that person, while aggravated assault involves particular circumstances that demonstrate profound defiance or disrespect for the value of human life. Aggravated assault also involves reckless threatening of harm or actual physical attack on the person who is at the receiving end, but it has to committed against a member who belongs from an influential or a protected class. A simple case of assault is upgraded into aggravated assault if cer tain facts inform the court officials that the assault is committed against a police officer, teacher, judge, or any person who performs supreme duties for the public. Some relief is provided regarding the rate of assault in US by the statistical records of Uniform Crime Report, January-June, 2010. Statistical data indicates that â€Å"law enforcement agencies throughout the Nation reported a decrease of 6.2 percent in the number of violent crimes brought to their attention for the first 6 months of 2010.† (The FBI, 2010). These violent crimes included assaults, rapes, and murder. This decrease is reported when compared with figures reported for the same time in 2009. This decrease in the rate of violent crimes in US is also supported by facts and figures provided by US National Crime Victimization Survey, 2009. â€Å"The overall victimization rate for violent crimes declined from 19.3 to 17.1 victimizations per 1,000 persons between 2008 and 2009.† (Bureau of Justice Statistics, 2010). Basically, the decreasing rate of simple assault has contributed to the decline in overall violent crime rate. There are myriad impacts of assault on an individual and the community. It is an established fact that victims of child molestation suffer from long-term affects of mental disturbances and they are also often unable to connect the brutal abuse to the hardships experienced by them all their lives. Such people who are sexually abused by any of their relatives in their childhoods often become introverts in their adult lives. They even have to deal with the consequences of low self-esteem and poor confidence, and both of these things play a vital role in a person’s professional life. Anger, aggression, and depression problems are commonly found in people who have been repeatedly sexually abused in the childhood. Sexual assault can also induce an individual in turning towards alcohol and prescription medicines for seeking relief. Alcohol dependency is t hus gradually developed and this consequently, leads to the rapid development of antisocial behavior. In many cases of drug abuse, childhood sexual assault forms one of the most common factors regarding the psychology behind drug abuse. Sexual maladjustment also forms a common grave consequence of the sexual assault. Even if someone is harassed or

Ethical Dilemma Essay Example | Topics and Well Written Essays - 1000 words - 1

Ethical Dilemma - Essay Example Clearly, those who remain in good standing achieve many benefits, including income and public recognition. These things are rewards for the achievement and maintenance of high moral and ethical standards. The esteem that derives from membership in an elite group makes professional status desirable. In order to choose the best solutions to the problems identified in two cases, it is important to apply ethical theories and moral standards. As a passenger in version 1, I would pull the lever and save lives of 5 people. This decision is based on utilitarianism referred to by some as the consequentialist ethical theory. It is expressed in the form that asserts that people should always act so as to produce the greatest ratio of good to evil for everyone. as the utilitarian, I believe that when choosing between two actions, the one that produces the greatest net happiness should be the one chosen (Donaldson et al. 2002). Where most of them disagree with one another is in the area of how this principle should be applied. There are also several stated weaknesses in this concept. It ignores actions that appear to be wrong in themselves; it espouses the concept that the end justifies the means; the principles may come into conflict with that of justice seems to associate justice with ef ficiency rather than fair play); and it is extremely difficult to formulate and establish satisfactory rules of application (Bentham 2000). I would pull the lever because it is ethical to save lives of people and choose the decision which benefits the majority. Utilitarianism manifests itself in two major forms. The stronger of the two is so-called act-utilitarianism. Under this system, the moral agent considers the consequences of only the action under consideration. The second system is called rule-utilitarianism. Here the moral agent considers a set of rules by which life should be lived. The basis of accepting or rejecting a rule is whether the consequences of everyone following the rule will result in the maximum probable good consequences. Rule-utilitarianism may be regarded as a weaker form of utilitarianism than act-utilitarianism. A rule-utilitarian, when confronted with a situation in which he believes that abiding by the rule will not in the present case be most beneficial, will simply modify the rule. Great disagreement may be generated over which consequences are in fact "good," which consequences should rec eive greater or lesser weight, and what probability should be assigned to different future consequences. Modern critics of utilitarianism also note that ultimately utilitarianism must seek non-utilitarian answers on assigning boundaries and values around the measurement of activities and values associated with the calculation of utilitarian systems. All these matters serve to cause what appears to be an exceptionally practical system to become less and less practical (Donaldson et al. 2002). As a passenger in version 2, I would not push the person and let him die. These actions would be considered as intentional killing of person and could lead to imprisonment. In terms of deontological ethics, actions should be based on rule-based morality. The approach considers an action as morally right if it conforms with a proper moral rule. An action that violates the rule but results in beneficial actions is still considered wrong. The

ELO Reflection Assignment Example | Topics and Well Written Essays - 1000 words

ELO Reflection - Assignment Example Auto racing eliminates human interaction in competition and takes a certain amount of success or failure of the hands of competitors. Racers chasing the feeling of adrenaline that one gets only in a race car as they come close to replicating any medication or other human experience. This feeling is addictive and consume. All you think about is running, and if you are not on the track, everything you think you want to go to the race next time. The drivers love their racing cars and love to go fast more than anything else. And once you master a particular form of the race, you want to go even faster. But the faster you go, the more dangerous it can be. You know as the driver how the race can be dangerous? Absolutely. Family members know that it is dangerous? Yes, they do. They know that all can be lost on the track, their families, their jobs and their way of life, if something goes wrong? Of course they do. Every veteran racer has been in a serious accident. It is often the first serious accident that causes the rotor to reassess the situation. Not everyone comes back from this first serious accident, and it is com mon to see riders leave the drivers seat on total because of the insistence of family and friends. I got an opportunity to be a part of the thrill. I remember walking to the rear of the pit garages eventually three-quarters of the way through the race and triggered a latecomer mechanic. I asked him what it was like running with the circus sports, traveling the world in a race to the next. When I went, it was the last year of the (relatively small) V8, and as shelled cars in curves and deep breakthrough, deep in the ears is something that you do not much of what cars and fans are doing as much fun as the race itself is not possible to follow in person. Wind cars tearing eyes, your face pecks rubber patches, and the

Captain Murderer Essay Example for Free

Captain Murderer Essay The gleaming sunlight shone through the dense canopy, piercing his dull chocolate eyes. Edwins dark complexion absorbed the shimmering suns rays, whilst his fellow comrades blossomed vibrantly under the yellow array, and remained a shadow under the bulky oaks. The elves tracked a party of goblins for three vigorous days, hoping to annihilate their clan and finally end the chaos in the vast forest of Hallow. Their steps, as quick as a cheetah and as stealthy as a cat, manoeuvred through the harsh terrain of dense shrubs, decayed logs, and muddy foliage in search of their pray. Edwin was the first of the four to feel the rush of fatigue immersing him, and was left with a drought of energy. Now is not the time to linger comrade, we are right on their tails, stated Myrth, as his sharp eagle eyes glimpsed Edwins sudden loss of momentum. Im sorry fellow kindred, I am somewhat drained from the excess hiking, replied Edwin as he placed himself on a bare rock, gasping to fill his empty lungs with air. As he struggled for oxygen, Edwin looked down upon himself as he glimpsed expressions of displeasure amongst the others as his recovery spent precious minutes. The elves continued their hunt for the corrupted goblins, their magnificent and elegant bows gliding along their slender backs as they pass through the dense terrain. Edwin continued to trail behind due to his lack of stamina, and was continuously eyed for his incompetence. The group stumbled across a recently lit camp fire and was determined it was the goblins. We are drawing near, we must hurry! exclaimed Arwen. As the shimmering rays of the gleaming sun faded away into the glistening spark of the full moon, the elves drew nearer to their enemy. The rigorous trek continued to falter Edwin, but seemed to have had no effect upon the others. With a vague gesture of the hand for halt, Evariah spoke out in a whisper, her piercing eyes glaring in all directions, I sense the enemy nearby. Bows at the ready, the elves treaded cautiously in the dark, damp forest. All of a sudden, a brute axe shot out of the distance and was aimed straight towards Edwin. Myrths superior strength and speed enabled him to shoot an arrow of equal power to counter the anonymous blade, and it simply dropped onto the rigid ground. Out of the shadows, stepped forward a swarm of ravaging goblins with the vicious content to kill. It was an ambush! realised Arwen. Without hesitation, the elves engaged in combat, firing away graceful shots from their Elvin bows, and slashing blissfully with their glorious swords. Every shot and every slash was of perfect precision and targeted the enemys vitals, resulting in an instant kill. The elves started to struggle in holding their ground as the goblins numbers were substantially larger. As the night grew older, more blood was spilt and the elves could not maintain the goblins anymore. FALL BACK! shouted Myrth, FALL BACK! The elves swiftly evaded many of their fierce attackers and dashed into the dark, densely packed oaks. Followed closely behind, was the uproar of swarming goblins with monstrous axes in their demeaning grasp. Edwin followed Myrth and the others in escaping the large mass. As the gruesome wails grew less with every step, they were convinced that they had escaped the horrible goblins. Suddenly, a twisted cry fell upon their narrow-tipped ears and a goblin swung its sharp steel axe, piercing Edwins leg. Evariah quickly responded with a gracious swing of her divine blade across its distorted neck, and it fell instantly. Edwin roared in pain, and consequently attracted the rampaging goblins. We must flee now! exclaimed Arwen. The sound of screaming monsters gradually increased and the group grew ever more hesitant of the situation. I cannot move my leg, comrades! shrieked Edwin. He cannot make it. We do not have the strength to carry him in our current state, we must make haste! Leave him be. Arwen declared. There is no other choice Arwen is right. You will only drag us behind, agreed Myrth reluctantly. But wait! protested Edwin. However, it was too late. They made their decision. They turned their back on him. The volume of the endless wailing of goblins increased as the figures of his so called comrades dissolved behind the tall, solid oaks. Edwins insides burned in a feeling of sorrow, misery and anger. His wound was deep, but did not harm him more than his feeling of rejection. Well, well, well. Look at what we have! Elf Scum, claimed the goblin, proudly. Edwin could do nothing more but stare into the goblins red repugnant eyes and justify his comrades despicable actions. What? An elf that cant talk! Haha! laughed the goblin. Edwin made no sound but felt betrayed. He could do nothing more, his mind became obscured and blinded him the fact that he was surrounded by the enemy. He slowly panned his view in disarray, and then felt a large blunt object strike his head. Edwin woke up, and found himself in a large, foul pit, with a throbbing headache. Both his hands and feet were cuffed securely, and tried frantically to escape, but was all in vein. The sad and deprived elf sat there in the dusty corner, hugging his bare knees, asking himself, why? Heavy footsteps approached and the familiar face of the wretched goblin presented itself in front of Edwin again. Its grin revealed the black and decayed teeth behind those battered lips. What will you do with me? asked the elf bluntly. Its foul grin grew wider. Nothing, he simply replied. As an elf, you are immortal. So I am going to do nothing with you, and let you rot in that pit for the rest of eternity. The elf was not surprised, nor did he care. He simply sat there, staring at the moist soil surrounding him. After a long pause, the goblin blatantly asked, You are an elf. Why are you not as beautiful as the rest? Oh I am much more beautiful than they are. I would never have succumbed in letting one of my comrades fall behind and get captured, the elf replied, still staring into the vast shades of brown in the soil. Haha. Maybe they disowned you because of how hideous you are! laughed the goblin. Infuriated, the elf exclaimed That is a very bold statement, especially coming from the likes of you! With clenched teeth, deep breathing, and a violent glare in his eyes, the elf rose up and twisted his arms around his neck. He pulled the metal chains as tight as he could, and as the light from his dull, chocolate eyes faded away, dropped to the ground.

Tomas Aleas The Last Supper Essay -- Last Supper Alea Movies Film Sla

Tomas Alea's The Last Supper [1] Before I start this essay, I feel the need to remind the reader that I find slavery in all its forms to be an oppressive and terrible institution, and I firmly believe that for centuries (including this one) bigotry is one of the most terrible stains on our civilization. The views I intend to express in the following essay are in no way meant to condone the practices of slavery or racism; they are meant only to evaluate and interpret the construction of slavery in film. [2] For films concerning slavery, the role of the filmmaker as educator is substantially heightened. All too often slavery films categorically vilify whites as oppressive forces, polarizing race and stereotyping the white class as uniformly tyrannical. The sympathetic but relatively powerless white in this system is frequently left out, condoning a stance that separates race as a division between villains and martyrs. While I see an effort in Tomas Gutierrez Alea’s The Last Supper to move beyond these representations, how successful the film is as a transcendence above the typically extreme constructions of character in the slave film is a difficult assessment, particularly for a film from a Cuban director during the Cold War. [3] For John Mraz, the representation of history in Tomas Alea’s The Last Supper is commendable work. Mraz claims that the film joins a cinematic collection where â€Å"films meet many of our expectations about what history ought to be† (120). Mraz continues his praise of Alea’s historical constructions, asserting that the way the film addresses history is impartial and objective: â€Å"The Last Supper follows the classic model of both written and filmed history in insisting on the reality o... ... fear. Once realized, those in power become all the more determined to maintain power through the brutality those revolts are meant to eliminate. The results are seldom glorious; instead, they are usually tragic. We must remember that the end of slave societies usually resulted from economic or political pressure put on political leaders by free men in the system, not those meant to be under it. Works Cited Fraginals, Manuel Moreno. The Sugarmill: The Socioeconomic Complex of Sugar in Cuba, 1760-1860. New York: Monthly Review, 1976. Knight, Franklin W. Slave Society in Cuba during the Nineteenth Century. Madison: U of Wisconsin P, 1970 Mraz, John. Recasting Cuban Slavery: The Other Francisco and The Last Supper.† Based on a True Story: Latin American History at the Movies. Ed. Donald R. Stevens. Wilmington: S.R. Books, 1997. 106-22.

Essay --

Anti-Terrorism in the UK The United Kingdom stands out from the world with its distinctive anti-terrorism policy, which gives the government extended powers to arrest, detain, and supervise those believed to be potential terrorists beyond what many other countries find suitable (Feikert & Doyle 2). The UK’s legislation surrounding terrorism is the product of policy that has evolved over time as the result of attacks taken out on the UK itself as well as global events that highlight the need for protection. The government has put together a thorough policy in response to terrorism, as well as preventative measures in an attempt to prevent such events from happening in the future. However, some measures taken by the government are seen by citizens and global critics to violate individual liberties and infringe on privacy. While the safety of its citizens is the prime motive of such policy, some people have been left to feel discriminated against in their own country. While the UK’s anti-terroris m policy is no doubt comprehensive, including measures to pursue, prevent, prepare, and protect the people from the threat of terrorism, the government is going to have to deal with the controversy regarding discrimination in order to satisfy its citizens and prevent future homegrown terrorist attacks. Terrorism is a difficult subject to tackle as it is hard to define. There is no collectively accepted definition in either the legal, civil, or academic sense of the word (Panter 579). The government of the UK defines terrorism as â€Å"the use or threat of action designed to influence the government or an international governmental organisation or to intimidate the public, or a section of the public; made for the purposes of advancing a political... ...ent needs to take this situation into consideration when creating laws, especially those that restrict the liberties of individuals. The UK’s unique style of government and policy history places it in a distinctive position compared to the rest of the world when it comes to counter terrorism measures. The government has created new policies over decades, which have been notable in their restriction of liberties and privacies of its citizens. It has become a controversy as to whether this should be allowed in order to protect the population as a whole or if these measures are a violation of human rights. Such policy is risky in that it might make some who feel discriminated against or disconnected turn to terrorism. While the UK’s anti-terrorism policy is detailed and comprehensive, it must take this into account and deal with the controversy in future legislation. Essay -- Anti-Terrorism in the UK The United Kingdom stands out from the world with its distinctive anti-terrorism policy, which gives the government extended powers to arrest, detain, and supervise those believed to be potential terrorists beyond what many other countries find suitable (Feikert & Doyle 2). The UK’s legislation surrounding terrorism is the product of policy that has evolved over time as the result of attacks taken out on the UK itself as well as global events that highlight the need for protection. The government has put together a thorough policy in response to terrorism, as well as preventative measures in an attempt to prevent such events from happening in the future. However, some measures taken by the government are seen by citizens and global critics to violate individual liberties and infringe on privacy. While the safety of its citizens is the prime motive of such policy, some people have been left to feel discriminated against in their own country. While the UK’s anti-terroris m policy is no doubt comprehensive, including measures to pursue, prevent, prepare, and protect the people from the threat of terrorism, the government is going to have to deal with the controversy regarding discrimination in order to satisfy its citizens and prevent future homegrown terrorist attacks. Terrorism is a difficult subject to tackle as it is hard to define. There is no collectively accepted definition in either the legal, civil, or academic sense of the word (Panter 579). The government of the UK defines terrorism as â€Å"the use or threat of action designed to influence the government or an international governmental organisation or to intimidate the public, or a section of the public; made for the purposes of advancing a political... ...ent needs to take this situation into consideration when creating laws, especially those that restrict the liberties of individuals. The UK’s unique style of government and policy history places it in a distinctive position compared to the rest of the world when it comes to counter terrorism measures. The government has created new policies over decades, which have been notable in their restriction of liberties and privacies of its citizens. It has become a controversy as to whether this should be allowed in order to protect the population as a whole or if these measures are a violation of human rights. Such policy is risky in that it might make some who feel discriminated against or disconnected turn to terrorism. While the UK’s anti-terrorism policy is detailed and comprehensive, it must take this into account and deal with the controversy in future legislation.

Operational Performance Measurement: Sales and Direct-Cost Variances

Chapter 14 Operational Performance Measurement: Sales and Direct-Cost Variances, and the Role of Nonfinancial Performance Measures Case 14-1: Pet Groom and Clean Company Readings 14-1: â€Å"Standard Costing Is Alive and Well at Parker Brass† by D. Johnsen and P. Sopariwala, Management Accounting Quarterly (Winter 2000), pp. 12-20. The Brass Products Division of the Parker Hannifin Corporation is a world-class manufacturer of tube and brass fittings, valves, hose, and hose fittings. Despite the introduction of popular new costing systems, the Brass Product Division operates a well-functioning standard costing system.Discussion Questions: 1. What features in the firm's standard costing that make it a success? 2. In addition to variances seen in the textbook Parker Brass created several new variances. Describe these variances. Why are these variance added at Parker Brass? 14-2: â€Å"Redesigning Cost Systems: Is Standard Costing Obsolete? † by Carole B. Cheatham and Leo B . Cheatham, Accounting Horizons (December 1996), pp. 23-31. The article shows some new ways to analyze standard cost data, going beyond the traditional emphasis on production costs variances that focus on price and efficiency.Variances for product quality are developed and explained, as well as sales variances based on sales orders received and orders actually shipped. There is also a discussion of how to incorporate activity-based costing, and continuous standard improvement, including benchmarking and target costing. The main premise of the article is that standard cost systems are the most common cost systems in use, and while there are a number of limitations to these systems, a careful and creative effort can transform them into more useful cost systems. Discussion Questions: 1.What are the main criticisms of traditional standard cost systems? 2. What is meant by â€Å"push through† production? Is it preferred to â€Å"pull through† production, and why? 3. What ar e the best ways to make standard cost systems more dynamic? 4. Considering the suggestions make in this article, in contrast to the chapter presentation of standard costing, which ideas make the most sense to you and why? 14-3: Can Variance Analysis Make Media Marketing Managers More Accountable? by Ted Mitchell and Mike Thomas, Management Accounting Quarterly (Fall 2005), pp. 51-61.This article discusses, within the context of a marketing application, an alternative method for decomposing a total standard cost variance. The authors posit that in such applications the joint variance (that in conventional practice is assumed to be small) can be significant in amount and therefore invalidate conventional methods that include the joint price-cost variance as part of the price variance. However, the treatment proposed by the authors for the joint price-quantity variance differs from the â€Å"three-variance† solution found in some cost/managerial accounting texts. Discussion Ques tions: . Explain what is meant by the term â€Å"joint variance† as this term is used in standard cost systems used for control purposes. 2. Explain what the authors of this article mean when they describe their proposed approach for standard cost variance decomposition as a â€Å"geometric solution. † 3. Explain the term â€Å"Minimum Potential Performance Budget† model. How is this concept employed in the variance decomposition process recommended by the authors? 4. What are the primary advantages and primary disadvantages of the variance decomposition model recommended by the authors of this paper? 4-4: Helping Students See the ‘Big Picture of Variance Analysis by Neal VanZante, Management Accounting Quarterly, Vol. 8, No. 3 (Spring 2007), pp. 39-47. This paper presents two examples that can be used to reinforce concepts and procedures students learn in text Chapters 14 through 16. The first example, Fernandez Company, can be used as a comprehensive rev iew of all three chapters; the second example, Roger Company, can be used in conjunction with Chapter 14 if additional coverage of the joint price-quantity variance for direct materials (DM) is desired.The Fernandez Company example requires students to first calculate the total flexible budget variance (in operating income) for a period and then breakdown this variance into its constituent parts (selling price variance, various cost variances, etc. ). Discussion Questions: 1. What is meant by the total operating-income variance for a given accounting period? What alternative names are there to describe this variance. 2. What would be a first-level breakdown of the total variance described above in (1)? 3. How can the total flexible-budget variance be broken down (i. . , what are the constituent parts of this total variance)? 4. Explain the total sales volume variance for a period. How can this total variance be decomposed? 5. Explain the meaning of the joint price-quantity variance that is the basis for the discussion in the Roger Company case. 14-5: Are ABC and RCA Accounting Systems Compatible with Lean Management? by Larry Grasso, Management Accounting Quarterly, Vol. 7, No. 1 (Fall 2005), pp. 12-27. This paper provides a critical analysis of several alternative cost systems to traditional cost accounting systems.It then evaluates these alternatives in terms of how they might support, or not, companies that adopt a lean philosophy. An example of nonfinancial performance indicators that support a lean philosophy is offered in Tables 1 and 2. This discussion in the article of the historical development of management accounting systems reinforces in the minds of students the evolving nature of cost system design: as the environment changes, so should management accounting systems. (Note: this reading could also be used in conjunction with Chapter 15 of the text. ) Discussion Questions: . Describe what is meant by the term lean manufacturing. 2. According to th e author of this article, what are the primary uses (or roles) of management accounting data within organizations today? 3. According to the author of this article, what are the primary implications of adopting a lean philosophy in terms of the design of management accounting systems? 4. Explain the importance of the examples provided in Tables 1 and 2 of this article. 14-1 Pet Groom & Clean (PG) David Green is considering his operating statement for 2010, which is displayed in the table below.David is the manager of store number 88, where he began as one of the staff 6 years ago, and through hard work has risen to become manager of the store. The operating report shows his budgeted performance for the year and the actual results, showing a net improvement of 9% over budget–$405. While his results are positive, the small improvement over the budget does not qualify David for the bonus program which awards a $3,000 bonus for store managers who improve their performance over th at of the budget by 20% or more. David manages one store in a 110 store chain of pet grooming stores owned by Pet Groom & Clean Company (PG&C).As for other PG stores, his store is open Monday through Saturday each week; the only service provided at the store is a service in which a pet, dog or cat, is groomed and cleaned, typically while the customer waits. The budgeted price for the service at the beginning of 2010 was $25. Budgeted variable costs were $2 for materials and $9 labor cost per service, as well as other variable costs of $1. 50 per service. Materials are purchased by local store managers, and all staff are hired and supervised by the local store managers.Other budgeted and actual information for 2010 are shown in the table below. David is an ambitious and hard working manager, who has applied himself to the job and has looked for different ways to attract customers and to reduce costs. For example, he noticed that most of the company’s customers brought their pe ts in on Friday, Saturday, and Monday, and the number of customers was significantly lower on Tuesday through Thursday. In fact, David budgeted that 80% of total demand for 2010 would be in the Friday-Monday period, and only 20% would be in the Tuesday-Thursday period.So at the start of 2010 David began a promotion that reduced prices on Tuesday through Wednesday to $18 in an effort to draw in more business during these three days. Also, noting the strong demand in the Friday-Monday period, David decided to increase the price during those days from $25 to $30. An experienced manager, David was able to manage labor costs so that staff were not idle, even on slow days; David scheduled the number of staff to meet the expected demand on each day, and because of his experience (and because his store encouraged appointments), his forecast of demand was usually quite accurate.Thus, labor cost is fairly treated as a variable cost for David’s store. Labor costs consists of 3 staff who are budgeted to work 2,500 hours per year at a budgeted pay rate of $12 per hour, thus the total budgeted labor costs of $ 90,000 (= 3 x $12 x 2,500). Through his careful scheduling of staff, and his effective management style, Dave was able to save labor time so that each of the three employees worked only 2,250 hours in 2010.Other expenses include training expenses –each staff employee is expected to have at least 6 hours of training at the PG&C headquarters during the year; the local store is charged $250 per hour for this training. The local store manager determines the amount of training time for each staff. Other expense also includes advertising expense, which is controlled by the local managers; PG&C recommends that advertising should be about 1% of total sales. Service development is the cost of studying new products for use in he stores and for the study of potential new ways to improve the services provided at PG&C stores. Service development is charged to each st ore based on the allocation rule of 10% of store sales. Accounting, insurance costs, taxes, and management overhead (which includes store rent and manager’s pay) are paid at the home office of PG&C and are allocated based upon a formula which combines store size, store sales, and the age of the store. Employee benefits accrue to staff at the rate of 20% of total pay. These benefit payments are contributed to a 401(k)-type retirement plan for each employee.The result of David’s promotional price for the Tuesday-Thursday period was successful, as total sales increased from 10,000 to 10,500 and the Tuesday-Thursday sales increased from 20% to 30% of total sales. Required: From David Green’s perspective, develop an analysis which explains your performance for the year ended December 31, 2010. [pic] 14-1: STANDARD COSTING IS ALIVE AND WELL AT PARKER BRASS by David Johnsen and Parvez Sopariwala Many people have condemned standard costing, saying it is irrelevant to th e current just-in-time based, fast-paced business environment.Yet surveys consistently show that most industrial companies in the United States and abroad1 still use it. Apparently, these companies have successfully adapted their standard costing systems to their particular business environments. In addition, many academics have contributed ideas on how the standard costing system could be and has been made more responsive to the needs of companies operating in this new economy. 2 The Brass Products Division at Parker Hannifin Corporation (hereafter, Parker Brass), a world-class manufacturer of tube and brass fittings, valves, hose and hose fittings, is one of the tandard costing success stories. It operates a well-functioning standard costing system of which we will show you some highlights. WHAT’S SPECIAL ABOUT THE STANDARD COSTING SYSTEM AT PARKER BRASS? Parker Brass uses its standard costing system and variance analyses as important business tools to target problem areas so it can develop solutions for continuous improvement. Here are some examples of these standard costing-related tools: (Disaggregated product line information. Parker Brass has been divided into Focus Business Units (FBUs) along product lines.Earnings statements are developed for each FBU, and variances are shown as a percentage of sales. If production variances exceed 5% of sales, the FBU managers are required to provide an explanation for the variances and to put together a plan of action to correct the detected problems. To help the process, a plant accountant has been assigned to each FBU. As a result of these steps, each unit is able to take a much more proactive approach to variance analysis. ( Timely product cost information.In the past, variances were reported only at month-end, but often a particular job already would have been off the shop floor for three or more weeks. Hence, when management questioned the variances, it was too late to review the job. Now exception repor ts are generated the day after a job is closed (in other words, the day after the last part has been manufactured). Any jobs with variances greater than $1,000 are displayed on this report. These reports are distributed to the managers, planners or schedulers, and plant accountants, which permits people to ask questions while the job is still fresh in everyone’s mind. Timely corrective action. Because each job is costed (in other words, transferred out of Work-in-Process and into Finished Goods) 10 days after the job has closed, there is adequate time for necessary corrective action. For example, investigating a large material quantity variance might reveal that certain defective finished parts were not included in the final tally of finished parts. Such timely information would allow management to decide whether to rework these parts or to increase the size of the next job.This kind of corrective action was not possible when variances were provided at the end of each month. (An effective control system. Summary reports are run weekly, beginning the second week of each month, to show each variance in total dollars as well as each variance by product line and each batch within the product line. In addition, at the end of each month, the database is updated with all variance-related information. As a result, FBU managers can review variances by part number, by job, or by high dollar volume. (Employee training and empowerment.Meetings are held with the hourly employees to explain variances and earnings statements for their FBU, thereby creating a more positive atmosphere in which the FBU team can work. These meetings help employees understand that management decisions are based on the numbers discussed and that if erroneous data are put into the system, then erroneous decisions may be made. For example, a machine may not be running efficiently. An operator may clock off of the job so that his or her efficiency does not look bad. Because the machine’ s efficiency is not adversely impacted, no FIGURE 1 | |PANEL A: THE FACTS | |Standard production in 1 hour (units) |50 | |Standard batch quantity (units) |2,000 | |Standard hours needed for 2,000 units |40 | |Standard time needed for 1 setup (hours) |4 | |Standard labor rate per hour |$10 | |Actual quantity produced (units) |1,200 | |Actual setup hours for 1 setup |4 | |Actual productive labor hours to make 1,200 units |24 | |Actual labor cost for 28 hours at $10 per hour |$280 | | | |PANEL B: WORKINGS | | Setups |Production |Total | |Standard time per unit: | | | | |Standard setup time ( hours) |4 | | | |Standard production time (hours) | |40 | | |Standard batch size (units) |2,000 |2,000 | | |Hence, standard time per unit (hours) |0. 002 |0. 020 |0. 022 | | | | | | |Standard time charged for 1,200 units: | | | | |Standard time per unit (hours) |0. 002 |0. 020 |0. 22 | |# of units actually produced |1,200 |1,200 |1,200 | |Standard time charged (hours) |2. 40 |24. 00 |26. 40 | | | | PANEL C: SOLUTION | |If SRQV is determined, the journal entry would be: | | | |Work in process [(26. 40)($10)] |$264 | | |SRQV [(4. 00 – 2. 0)($10)] |$16 | | | Accrued payroll | |$280 | |If SRQV is not determined, the journal entry would be: | | | |Work in process [(26. 40)($10)] |$264 | | |LEV [{28. 00 – (1 . 200)(0. 022)}{$10}] |$16 | | | Accrued payroll | |$280 | maintenance is done to that machine, and the inefficiency continues. In addition, because the operator is not charging his/her cost to a job, the cost is being included in indirect labor, and manufacturing costs increase.If the operator had reported the hours correctly, management would have questioned the problem, and the machine would have been fixed or replaced based on how severe the problems were. WHAT NEW VARIANCES HAS PARKER BRASS DESIGNED? In addition to the aforementioned innovations that Parker Brass has made to adapt its standard costing system to its particular business environment, the company has created the following new variances: (The standard-run quantity variance to explain situations where the size of a lot is less than the optimal batch quantity. (The material substitution variance to evaluate the feasibility of alternative raw materials. ( The method variance to assess situations where different machines can be used for the same job. THE STANDARD RUN QUANTITY VARIANCEThe standard run quantity variance (SRQV) represents the amount of setup cost that was not recovered because the batch size was smaller than the earlier determined optimal batch size. Because setup costs are included in the standard labor hours for a standard batch quantity is likely to create an unfavorable labor efficiency variance (LEV). Unless, |FIGURE 2 | |PANEL A: THE FACTS | |Standard price per pound of material Ml |$10 | |Standard price per pound of material M2 |$11 | |Standard material quantity (Ml & M2) to make 100 units (lbs. |2 | |Actual quantity produced (units) |2,000 | |Actual pounds o f M2 purchased and used |43 | | | |PANEL B: WORKINGS | |Standard quantity to produce 2,000 units: | | |Standard material quantity to make 100 units (lbs. ) |2 | |Actual quantity produced (units) |2. 00 | |Hence, standard quantity to produce 2,000 units |40 | | | |PANEL C: SOLUTION | |If MSV is determined, the journal entry would be: | | | |Work in process [(40. 00)($10)] |$400 | | |MEV [(43. 00 – 40. 00)($11)] |$33 | | |MSV [(40. 00)($11 – $10)] |$40 | | | Material—M2 [(43. 0)($11)1 | |$473 | | | | | |If MSV is not determined, the journal entry might be: | | | |Work in process [(40. 00)($11)] |$440 | | |MEV [(43. 00 – 40. 00)($11)] |$33 | | | Material—M2 [(43. 00)($11)] | |$473 | owever, the impact of actual production inefficiencies is separated from setup-related inefficiencies, the LEV reflects the combined impact of these two causes of inefficiencies and is not really useful for taking the necessary corrective action. See Figure 1 for an illust ration of this issue. Panel A shows that standard batch quantity is 2,000 units, the standard production during one hour is 50 units, and, hence, 40 standard hours are needed to produce 2,000 units. In addition, it takes four standard and actual hours to set up one batch. Panel B reveals that standard hours for setup and production labor are 0. 002 and 0. 020 per unit, respectively, for a total of 0. 022 per unit.In addition, because actual quantity produced is 1,200 units, the total standard hours chargeable to these 1,200 units is 26. 40 [(0. 002 + 0. 020)(1,200)]. Finally, Panel C shows the recommended journal entry whereby an SRQV is created. This SRQV represents the unrecovered setup costs because 1,200 units were manufactured instead of the standard batch quantity of 2,000 units. Thus, because the company expected to spend $40 [(4 hours)($10 per hour)] on each setup, the setup cost relating to the 800 (2,000 – 1,200) units not produced, or $16 U, is considered an unfavo rable SRQV or the cost of producing small lots. On the other hand, using traditional standard costing, this amount of $16 U would most likely have been categorized as an LEV.Yet there really is no LEV,3 and the variance of $16 U attributed to labor efficiency is merely the unabsorbed portion of the setup cost attributable to the 800 units that were not produced. The advantages of extracting the standard run quantity variance are many. First, the SRQV ordinarily would be included in the LEV and could provide a misleading impression of labor’s efficiency. Second, because just-in-time practices recommend smaller lots and minimal finished goods inventory the SRQV is essentially the cost of adopting JIT Third, to the extent that setup cost and the cost of carrying inventory are competing undesirables, a determination of the cost of small lots could be used in the trade-off analysis against the cost of holding and carrying inventories.Finally, to the extent that this variance can b e separated for each customer, it would reveal how much of a loss was suffered by allowing that customer to purchase in small lots. Such information could be used in future bids. If a customer’s schedule required a smaller lot, then that customer’s job cost could be enhanced appropriately. THE MATERIAL SUBSTITUTION VARIANCE The material substitution variance (MSV) assumes perfect or near perfect substitutability of raw materials and measures the loss or gain in material costs when a different raw material is substituted for the material designated in the job sheet. Substitutions may be made for many reasons. For example, the designated material may not be available or may not be vailable in small-enough quantities, or the company may want to use up material it purchased for a product that it has since discontinued. The usefulness of MSV is discussed in Figure 2. Panel A shows that both materials, M1 and M2, can be used to manufacture a product, and it is assumed that t wo pounds is the standard input per unit for both materials. Material M1 is the material designated in the job sheet, but material M2 can be substituted for M1. The standard cost of M2 ($11 per lb. ) is higher than that for M1 ($10 per lb. ), and M2 is used because M1 is currently not available and a valued customer needs a rush job. 4 Panel B reveals that the standard quantity needed to manufacture 2,000 units is 40 lbs.For the purposes of this illustration, we assume that material price variance (MPV) is detected when material is purchased (in other words, the material account is maintained at standard cost). Hence, Panel C reveals the recommended journal entry whereby MSV is created. The MSV represents the benefit obtained by substituting a more expensive material (M2) for the less expensive material (M1) and hence represents the loss through substitution. The MSV is $40 U because (1) 40 lbs. is the standard quantity of M1 and M2 needed to manufacture 2,000 units, and (2) M2 cost s $1 more per lb. than M1. In addition, the material efficiency variance (MEV) is $33 U because 43 lbs. instead of the standard quantity of 40 lbs. ere used to manufacture 2,000 units. In contrast, the traditional standard costing system might ignore the substitution, and the job might be charged with the standard cost of using 40 lbs. of M2. In that scenario, the job would cost $40 more and could have an impact on customer profitability analysis even though the customer did not request the substitution. Now Parker Brass is evaluating an extension that would be to relax the simplifying assumption that both materials require the same standard input. See Figure 3. It adopts the facts from Figure 2 except that 1. 9 lbs. of material M2 are required for 100 units instead of 2 lbs. for both materials in Figure 2.In this situation, we have two MSVs, one for the price impact called â€Å"MSV-Price† and the other for the efficiency impact, called â€Å"MSV-Efficiency. † Panel C shows the recommended journal entry whereby two MSV variances are created. First, MSV-Price is unfavorable because M2, a more expensive material, is being substituted for M1. As a result, MSV-Price is $40 U as material M2 costs $1 more per lb. than material M1. On the other hand, as you might expect, the MSV-Efficiency is favorable because only 1. 9 lbs. of M2 are required to make 100 units as compared to 2 lbs. required for M1. Thus, MSV-Efficiency is $22 F because each batch of 100 units requires 38 lbs. of M2 against 40 lbs. of M1. The net result of the MSV variances is $18 U [(38 lbs. )($11) – (40 lbs. ($10)], suggesting that, barring any other complications, the substitution of M2 for M1 is not likely to be profitable under existing circumstances. Finally, the MEV using material M2 is $55 U, reflecting the fact that 43 lbs. of material M2 actually were used whereas only 38 lbs. of material M2 should have been used. This variance could have been caused by the fact that M 2 was a new material and required initial learning and other nonrecurring costs. In such a case, the standard quantity of 38 lbs. for 2,000 units may not need to be changed. On the other hand, the MEV variance may have been caused because of the inherent difficulty in working with material M2. In such a case, the standard of 38 lbs. for 2,000 units may need to be amended.In contrast, as was shown in Panel C of Figure 2, the journal entry that is likely to be made using traditional standard costing would completely ignore the impact of material substitution and would likely inflate the cost of this particular job. The advantages of extracting the MSV are as follows. First, determining MSV lets the company assign the MSV cost to a customer whose rush job may have required using a more expensive material like M2. On the other hand, the MSV could be written off if the substitution were made to benefit the company. Also, creating an MSV and breaking it up into its price and efficiency co mponents allows the company to evaluate whether the substitution of M2 for M1 is a profitable one.While all these calculations can also be performed off the accounting system, creating the MSV makes the process a part of the system so a history of such evaluations is available for future reference. METHOD VARIANCE A method variance occurs when more than one machine can be used to manufacture a product. 5 For example, a plant may have newer machines that it normally would expect to use to manufacture a product, so its standards would be based on such new machines. Yet the same plant may also keep, as backups, older and less efficient machines that also could manufacture the same product but would require more inputs in the form of machine and/or labor hours. For this example, we assume that labor hours and machine hours have a 1:1 relationship. 6 As FIGURE 3 | |PANEL A: THE FACTS | |Standard price per pound of material M1 |$10 | |Standard price per pound of material M2 |$11 | |Standa rd material quantity of M1 to make 100 units (lbs. ) |2 | |Standard material quantity of M2 to make 100 units (lbs. ) |1. | |Actual quantity produced (units) |2,000 | |Actual pounds of M2 used |43 | | | |PANEL B: WORKINGS | | |Material M1 |Material M2 | |Standard quantity to produce 2,000 units: | | | |Standard material quantity for 100 units (lbs. ) |2 |1. | |Actual quantity produced (units) |2,000 |2,000 | |Hence, standard quantity to produce 2. 000 units |40 |38 | | | |PANEL C: SOLUTION | |If MSV is determined, the journal entry would be: | | | |Work in process [(40. 00)($10)] |$400 | | |MEV [(43. 00 – 38. 00)($11)] |$ 55 | | |MSV-Price [(40. 0)($11 – $10)] |$ 40 | | |MSV-Efficiency [(40. 00 – 38. 00)($11)] | |$ 22 | |Material—M2 [(43. 00)($11) | |$473 | | | | | |If MSV is not determined, the journal entry might be: | | | |Work in process [(38. 0)($11)] |$418 | | |MEV [(43. 00 – 38. 00)($11)] |$55 | | |Material—M2 [(43. 00)($11 )] | |$473 | a result, the method variance becomes pertinent because the traditional LEV from operating the older machines could potentially include the following two impacts. First, an older machine may need additional labor hours to perform the same task, and the additional hours would be reflected in the LEV. Second, the LEV would include the workers’ efficiency or lack thereof on the older machine.We evaluate the usefulness of the method variance in Figure 4. Panel A shows that both machines, A and B, can be used to manufacture a product. Machine A is the more efficient machine and the one used for setting the standard time. Machine B is the backup. Panel B shows that the standard machine hours needed to produce 1,800 units are 30 on machine A and 36 on machine B, which can be compared to the 35 hours actually used to manufacture 1,800 units on machine B. Panel C of Figure 4 reveals the recommended journal entry whereby a method variance is created. This method variance represents the loss incurred by substituting the backup machine B for machine A.Because machine B’s standard of 36 labor hours is greater than machine A’s standard of 30 hours, there is an unfavorable method variance of $120. On the other hand, because machine B took 35 hours to manufacture 1,800 units instead of its standard of 36 machine hours, there is a favorable LEV of $20. As you can see, while there was a loss incurred by using machine B instead of machine A, the actual usage of machine B was efficient. In contrast, assuming the traditional costing system recognizes that machine B was used, it is likely to charge the job $720 [(36 hours) x ($20 per hour)] instead of the $600 [(30 hours) x ($20 per hour)] that would have been charged if machine A had been used. Here are the advantages of extracting the method variance.First, the impact of the method variance ordinarily would be included in the LEV and would provide a misleading impression of labor’s productivity. Sec ond, the method variance could be used to isolate the additional cost that was incurred during the year by operating machine M2. This could permit a trade-off between purchasing a new machine |FIGURE 4 | |PANEL A: THE FACTS | |Machine A: standard time needed for one unit (minutes) |1. 0 | |Machine B: standard time needed for one unit (minutes) |1. | |Labor rate per hour |$20 | |Actual quantity produced (units) |1,800 | |Actual labor hours used to make 1,800 units using machine B |35 | |Actual labor cost |$700 | | | |PANEL B: WORKINGS | | |Machine A |Machine B | |Standard hours needed for 1. 800 units on: | | | |Standard time needed for one unit (minutes) |1. 0 |1. | |Actual quantity produced (units) |1,800 |1,800 | |Hence, the standard hours needed |30 |36 | | | |PANEL C: SOLUTION | |If method variance is determined, the journal entry would be: | | | |Work in process [(30. 00)($20)] |$600 | | |Method variance [(36. 00 – 30. 00)($20)] |$120 | | |LEV [(36. 00 – 35. 0)($2 0)] | |$ 20 | |Accrued Payroll | |$700 | | | | | |If method variance is not determined, the journal entry might be: | |Work in process [(36. 00)($20)] |$720 | | |LEV [(36. 00 – 35. 0)($20)] | |$ 20 | |Accrued Payroll | |$700 | and continuing to maintain the older machine, especially if tight delivery schedules are not the norm. Finally, the product cost would still be based on the standards for the more efficient new machine, and the job would not be charged a higher cost merely because a less efficient machine was used. That means a job that was completed on the older machine would not be penalized. 7 RELEVANT, NOT IRRELEVANT As you can see from the Parker Brass examples, standard costing has not become irrelevant in the new rapid-paced business environment.Parker Brass not only has managed to modify its standard costing system to achieve disaggregated and timely cost information for timely corrective action, but it has also designed additional variances to determine how set up time relating to small batches should be absorbed, whether an alternative raw material is economically feasible, and how a product’s cost might reflect the use of alternate production facilities. 1Studies reporting on the widespread use of standard costing in the U. S. , the U. K. , Ireland, Japan, and Sweden are summarized by Horngren, Foster, and Datar on page 225 of the 9th edition of their cost accounting text published by Prentice-Hall in 1997. 2C. Cheatham, â€Å"Updating Standard Cost Systems,† Journal of Accountancy, December 1990, pp. 57-60; C. Cheatham, â€Å"Reporting the Effects of Excess Inventories,† Journal of Accountancy, November 1989, pp. 131-140; C. Cheatham and L. R.Cheatham, â€Å"Redesigning Cost Systems: Is Standard Costing Obsolete,† Accounting Horizons, December 1996, pp. 23-31; H. Harrell, â€Å"Materials Variance Analysis and JIT: A New Approach,† Management Accounting, May 1992, pp. 33-38. 3The standard production hou rs needed for 1,200 units were 24 [(1,200) x (0. 020)], whereas the actual labor hours used have been intentionally set at 24. In addition, the standard and actual labor hours for one setup have been intentionally set at four. 4An alternative scenario could have the cost per pound of M2 ($9 per lb. ) being lower than that for M1 ($10 per lb. ) because M2 is used to manufacture other products as well and the company obtains quantity discounts for large purchases of M2. To a limited extent, the rationale behind the method variance is similar to that for the material substitution variance (MSV) discussed earlier. 6That is, the machine does not work independent of the worker. Hence, the labor hours spent on the machine are the same as the number of hours the machine was operated. 7A similar reasoning is applied in situations wherein the routing for the manufacture of a product is amended during the year, possibly because the customer wants an additional processing step. In such a case, the resulting process variance could be charged to the customer. 14-2: Redesigning Cost Systems: Is Standard Costing Obsolete? By Carole B. Cheatham and Leo B. Cheatham, Professors at Northeast Louisana University.SYNOPSIS: Since the early 1980s standard cost systems (SCSs) have been under attack as not providing the information needed for advanced manufacturers. In spite of its critics, SCSs are still the system of choice in some 86 percent of U. S. manufacturing firms. This paper discusses the criticisms of SCSs that (1) the variances are obsolete, (2) there is not provision for continuous improvement, and (3) use of the variances for responsibility accounting result in internal conflict rather than cooperation. Updates for SCSs in the form of redesigned variances, suggestions for dynamic standards, and refocused responsibility and reporting systems are presented. The compatibility of SCSs and its main competitor as a cost system, activity-based costing (ABC), is examined.The auth ors discuss when it is appropriate to use ABC or SCS or some combination of the two. Since Eli Goldratt’s (1983) charge that cost accounting is the number one enemy of productivity in the early 1980s, traditional cost systems have been under attack. Although Goldratt subsequently softened his stand to say that cost rather than accounting was the culprit (Jayson 1987), others were quick to jump on the bandwagon to condemn the cost systems in use. New systems were proposed of which the most popular was activity-based costing (ABC). In spite of all the criticism, a 1988 survey shows 86 percent of U. S. manufacturers using standard cost systems (Cornick et al. 988). A survey by Schiff (1993) indicates that 36 percent of companies use activity-based costing, but only 25 percent of those use it to replace their traditional cost system. It would seem that only about 9 percent (25 percent of the 36 percent) of companies are using ABC as their main system while the vast majority use a standard cost system (SCS). This is not to say that traditional SCSs could not benefit from being updated. However, accountants in industry (as well as academia) seem unaware that a redesigned SCS can provide the information they need, and that updating their present system is an easier process than adopting a new system.The SCS is one vehicle of articulation among managerial, financial and operations accounting, and it is a control system while the candidates for its replacement typically are only cost accumulation systems. In this article the major criticisms of SCSs are examined along with ways that the weaknesses can be remedied or ameliorated. The criticisms relate to the use of specific variances, the lack of provision for continuous improvement, and the fact that administration of the system results in internal competition rather than cooperation. The appropriate use of ABC systems in conjunction with SCSs is also discussed. UPDATING THE VARIANCES IN AN SCSConcerning the var iables analyzed in an SCS, most criticisms center on the overemphasis on price and efficiency to the exclusion of quality. Other criticisms center on the use of the volume variance to measure utilization of capacity while ignoring overproduction and unnecessary buildups of inventory. In making such charges, critics fail to realize variance analysis is not â€Å"locked-in† to a particular set of variables. Standards are only benchmarks of what performance should be. The particular variables used can be changed as the need arises. The following discussion focuses on concerns of the new manufacturing environment—raw material ordering and inventory levels, quality, production levels, finished goods inventory levels and completion of sales orders.Variances Pertaining to Raw Materials The set of variances in Figure 1 centers on the function of raw material ordering and inventory levels (Harrell 1992). The Raw Material Ordering Variance gives information about the effectivene ss of suppliers. It contrasts the raw materials ordered with the raw materials delivered (purchased). Any variation may be considered unfavorable because the goal is to have orders delivered as placed. Too much delivered will result in unnecessary buildups of raw material stocks. Too little delivered is unfavorable because production delays may result. The Price Variance in Figure 1 is the traditional price variance computed on materials purchased.This variance has been criticized on the grounds that over-emphasis on price leads purchasing managers to ignore quality. However, price is a legitimate concern that should not be overlooked. This system also uses a Quality Variance (presented in a following section). If low quality materials are purchased in order to gain a low price, this will result in an unfavorable Quality Variance. Variances Pertaining to Material Inventories and Efficient Use The set of variances in Figure 2 focuses on raw material inventory levels and quantity or e fficiency of material use. The Raw Materials Inventory Variance (Harrell 1992) shows either more material purchased than used (an inventory buildup) or more material used than purchased (an inventory decrease).With the JIT philosophy, purchasing more than used causes an unfavorable variance, while decreasing previous buildups causes a favorable variance. The Efficiency Variance in Figure 2 is based on the difference between the actual pounds of material used and the standard amount for total production. The traditional Efficiency or Quantity Variance is the difference between the actual pounds of material used and the standard amount for good production. The traditional variance is actually as combination of quality and efficiency factors. As can be seen in the next section, quality is better treated in a separate variance. Variances Pertaining to Production Levels and QualityThe next set of variances (Figure 3) turns from input analysis to output analysis and relates to production levels and quality. All cost factors are included in the â€Å"standard cost per unit† including labor and overhead. The Quality Variance is the standard cost of units produced that did not meet specifications (the difference between total units produced and good units produced). In traditional variance analysis, this variance is buried in the efficiency variances of the various inputs. Ignoring labor and overhead, suppose a company used two pounds of material per finished unit at a standard cost of $1. 00 per pound. Further assume they used 4,900 pounds in the production of 2,500 total units, of which 100 were defective.Traditional variance analysis would show an unfavorable Efficiency Variance of $100 computed on the difference between the standard cost of the 4,800 pounds that should have been used to produce the 2,400 good units and the 4,900 pounds actually used. A better breakdown of the traditional variance shows a favorable Efficiency Variance of $100 and an unfavorab le Quality Variance of $200. The Production Department did use only 4,800 pounds to produce 2,500 units that should have taken 5,000 pounds. The fact that some of these units were defective should appear as a Quality Variance, as it does in this analysis. The Quality Variance is $200 unfavorable representing $2. 00 per unit invested in 100 defective units.This analysis also yields a Production Variance based on the difference between the standard cost of good units produced and the scheduled amount of production. The goal in advanced manufacturing environments is to produce exactly what is needed for sales orders (scheduled production). A variance from scheduled production either way is unfavorable because too much production results in unnecessary buildups of inventory while too little results in sales orders not filled. As is the case with the Raw Material Inventory variance, the critical factor is the cost of the capital invested in excess inventories. It is desirable to highligh t this cost in responsibility reports by applying a cost of capital figure. o the excess (Cheatham 1989). For simplicity’s sake, the above illustrations of input analysis pertain to materials. Labor and volume-related variable overhead can be analyzed in a similar manner. Since there is no difference between labor purchased and labor used in production, the labor input variances would include the traditional Rate Variance and the updated Efficiency Variance. Other than showing a budget variance for the various elements of fixed overhead, there is no point in further analysis in terms of a Volume Variance. The updated Production Variance serves the same purpose in a far better fashion. VARIANCES PERTAINING TO SALES ANALYSISThere are various ways to analyze sales. One method is to use price, mix and volume variances. A further analysis is to break down the volume variance into market size and market share variances. The analysis in Figure 4 is presented because it articulates w ell with the output analysis for production. The sales variances indicate customer service as well as the cost of lost sales. The variances use budgeted contribution margin as a measure of opportunity cost. The Finished Goods Variance indicates the opportunity cost associated with orders completed but not shipped. A delay in shipment causes a loss because of subsequent delay in receiving payment.The Sales Order Variance represents the opportunity cost associated with sales orders that could not be filled during the time period for whatever reason—lack of capacity, scheduling problems, etc. The above discussion presents a variety of variances that are not used in a traditional standard cost system. The variances can be used for control purposes alone or can be integrated into the financial accounting records (Cheatham and Cheatham 1993). The system is not intended to be a generic solution for any company’s needs. It is intended to demonstrate that, with a little creativ ity, it is possible to redesign SCSs to measure variables that are important to a particular company in today’s manufacturing environment. UPDATING THE SCS FOR CONTINUOUS IMPROVEMENTIn a manufacturing environment in which continuous improvement is a goal of most companies, the charge has been made that SCSs do not encourage positive change. However, static standards based on engineering studies or historical data are not an essential part of an SCS. Standards can be adjusted to be dynamic, or changing, by any of several methods. Using Prior Periods’ Results as Standards One way to have dynamic standards is to use last period’s results as standards. This idea has been advocated in the past as a way for small business to have the benefits of standards without the expense of engineering studies (Lawler and Livingstone 1986; Cheatham 1987).The objection can be made that last period’s results may not make very good standards if last period was unrepresentative for whatever reason. If this is the case, last period’s results can be modified. Another variation on using past performances as standards is the use of a base period. Comparisons can be made with the base period and all subsequent periods, if desired. Boer (1991, 40) describes a system of using a base year as a â€Å"pseudo flexible budget† from which unit costs are developed. He comments that the system â€Å"encourages continuous improvement and never implies that a level of performance is adequate. Instead, it encourages managers to improve continuously. † Still another variation on using prior periods’ results as standards is the use of best performance-to-date (BP).BP is a rigorous standard for self-improvement because it motivates workers as well as managers to exceed all past performance. Using Benchmarking Although past performance costs may be used in a variety of ways to formulate dynamic standards, any such system has an inward focus. Benchma rking looks outside the firm to the performance of industry leaders or competitors. Benchmarking typically is applied to performance measures rather than standard costs. However, using the performance of industry leaders as a standard provides motivation to become world-class in much the same fashion. The primary barrier to use of benchmarking standards is, of course, lack of information. Edward S.Finein (1990), former vice president and chief engineer of Xerox, lists the following sources of information when using benchmarking for performance measures: (1) external reports and trade publications; (2) professional associations; (3) market research and surveys; (4) industry experts; (5) consultants’ studies; (6) company visits; and (7) competitive labs. In the absence of hard information, an approach may be taken to estimate the performance of industry leaders. Trying to meet the supposed standards of industry leaders (or other competitors) can have results that are useful as long as the company is striving toward beneficial goals. Using Moving Costs Reductions Still another way to have dynamic standards is through use of predetermined cost reductions. Horngren et al. 1994) describe a system of what they call a â€Å"continuous improvement standard cost† or a â€Å"moving cost reduction standard cost. † This system reduces the standard cost by a predetermined percentage each time period, such as a one percent reduction in standard cost per month computed by setting the new standard at 99 percent of the previous month’s standard. The question that their system raises is how to determine the amount of the cost reduction. One possibility is the use of cost improvement curves. Cost improvement curves are a new variation of the old learning curve idea. Learning curves were based on reduction of direct labor costs due to learning by the workers.With a large percentage of product conversion being brought about by automated equipment rather than laborers, potential cost reductions relate to the experience factor for the organization as a whole which may be measured by cost improvement curves. Pattison and Teplitz (1989) calculate the new rate of learning for an organization that replaces labor with automated equipment as: Ratenew = Rateold + (1 – Rateold) * L * R where Rateold is the rate of learning for the old system, L is the proportion of learning attributed solely to direct labor stated as a percentage, and R is the proportion of direct labor being replaced. The formula actually reduces the learning rate applicable to labor only, the assumption being that workers can learn but not machinery.An updated version of the formula is needed which encompasses factors such as managers’, supervisors’ and engineers’ experience. The Japanese stress the formula 2V=2/3C, or if volume is doubled, the cost should be two-thirds of what it was originally. This formula equates to a 67 percent learning cur ve which represents a high degree of learning. However, their attitude is that learning does not just happen—it should be made to happen. Using Target Costs Another idea borrowed from the Japanese is the use of target costs based on the market. Target costs are used in Japan primarily for new products that are still in the design stage. The idea is to set a cost that is low enough to permit a selling price that is viable on the market.The price is the starting point for calculating costs, and the various costs are backed out from the price. Typically, the target cost is very low. Hiromoto (1988) describes the use of target costs at the Daihatsu Motor Company. First, a product development order is issued. Then an â€Å"allowable cost† per car is calculated by taking the difference between the target selling price and the profit margin. Then each department calculates an â€Å"accumulated cost† based on the standard cost achievable with current technology. Finally , a target cost is set somewhere between the allowable and accumulated cost. All this takes place before the product is designed.The design stage typically takes three years. When the product is finally in production, the target cost is gradually tightened on a monthly basis. Later the actual cost of the previous period is used to drive costs down further. Market-based target costs have a strong appeal on a basis for standard costs because they focus on the customer rather than on internal engineering capabilities. However, using target costs is easiest with new products because as much as 90 percent of product costs are set in the design stage (Berliner and Brimson 1988). The way a product is designed determines the way it has to be manufactured and sets the stage for further cost reductions.Standard costs do not have to be static. Dynamic standards can be formulated using a variety of methods including past performance, industry leader’s performance, or target costs based o n predetermined reductions or the market. Market-based target costs have the most intuitive appeal because the focus is on the future and on the customer. However, they may work better for new products rather than for established products. UPDATING MANAGEMENT RESPONSIBILITY AND REPORTING Besides revamping the SCS to better reflect today’s concerns in terms of variables to be measured and continuous improvement, there needs to be improved reporting of variances.Old reporting systems tended to foster internal competition and arguments about whose department was to blame for unfavorable variances. There needs to be an attitude of cooperation among workers, managers and departments. Revised lines of responsibility used with new plant layouts are improving some of the competitive attitudes that once prevailed in manufacturing organizations. Plants that used to feature â€Å"push through† production with large masses of raw materials and semi-finished product moving from one process to another are changing to work cells or similar arrangements. The work cell arrangement features equipment that can process a product from start to finish. Workers in the work cell typically can operate all or several types of machinery.This leaner â€Å"pull through† approach allows a sales order to be rapidly processed within the work cell which decreases cycle time and holds work in process and finished goods inventories to a minimum. The work cell arrangement allows a team of workers to be responsible for the entire product and reduces the likelihood that defects will be passed along to the next department. Along with the work cell arrangement many companies are decentralizing functions such as engineering and making these personnel responsible for a particular work area or product line. With the decentralization, there is more focused responsibility. Decentralization and a team approach to production eliminate many conflicts that once existed.In addition to the new attitudes about responsibility, there needs to be improved reporting. The variances outlined in this paper can be reported in two types of management reports. The report illustrated in Fig. 5 shows the trade-offs between price, efficiency and quality. This type of report can be done on a plant level or department level as well as a work cell level. The price variance for work cells or departments should be computed on material used rather than purchased because this gives a better picture of the trade-offs involved. Upper-level management reports should probably show both types of price variances if there are significant differences between purchases and use.The report illustrated in Fig. 6 shows the effects of variances related to inventories. Raw material excesses at cost, related to both current and past purchases, are listed along with the related cost of capital. In this case it is assumed the excess was held the entire month and the cost of capital was one percent. Work-i n-Process excesses are measured in terms of the Production Variance. This variance measures the difference between scheduled and actual production. Presumably if there were excesses from the previous month, there was an adjustment made in the scheduled production. Cost of capital figures show the effect of holding these excess inventories.In the case of Finished Goods, the crucial factor is the opportunity cost of sales orders not filled measured by the lost contribution margins. Therefore, if orders are completed but not shipped or there is an inability to fill a sales order because of lack of capacity, this is indicated by the Finished Goods Variance or the Sales Order Variance. The illustration assumes a favorable Finished Goods Variance because more sales orders were filled than units produced, indicating a decrease in previous finished goods stock. Although a reporting system such as that illustrated in Figures 5 and 6 may not eliminate all conflicts, it is certainly