A reflection report and why it is an important task

In this investigation I am heading out to show my involvement in these obtaining apparatuses and engineerings. It will be incorporated my quality, coming up short, chances I have acquired to expand my surveies each piece great as what are the plans I am venturing out to use achievement my securing, what are the breaks for my turn of events, how might I reassign my achievements for future calling. On the different manus I am going to happen how I can use these encounters with other staff. What are my Strengths? Bing Prepared for Study Study achievements poll show I have great advancements in arranged for review. I have distinguished my own assets. I am consistently earning idea from coachs and matured understudies. I have unmistakably recognized what kind of assets do I have to progress my scholarly surveies. Along these lines I am understanding books and papers, I am using the internet each piece great as library for keeps up this quality to send on. I have great considerations who are the individuals and topographic focuses that I can use for better my surveies. It appears to be coarse study progressively accommodating to being set up for study. Blending Cottrell.S ( 2008, p12 ) Independent review is â€Å" include all college programs. The total and the sort shifts starting with one program then onto the next † . Study aptitudes poll depict I have great comprehend about autonomous overview consequently I can record my ain accomplishment by pull offing my surveies great. Data Technology Study Audit recommends I am acceptable in data designing. At the point when I was following DNIIT ( sheepskin in national foundation of data Technology ) I have utilized Microsoft office related assignments each piece great as I have great involvement in other combination of bundle. Today I am using my old experience when I am making my scholarly procurement in Northumbria University. So it encourages me to make my assignments and everything much simple. Referencing Study achievements survey depict I have great idea when I am making referencing for my scholarly initiation. That mean I have comprehended staying away from copyright infringement. In this case I am following â€Å" Cite them right † composed by Richard Pears and Graham. It is decidedly affecting me to when I am making my task in my arrangement personnel. I realize how to deliver rundown of notice, understanding about notice starting. I have positive criticism from mentor about my referencing for developmental task attempted way staff. Group Worker Belbin preliminary outcome shows I am a decent crew specialist when I am working in a gathering. All around most schools and colleges rely upon people however late they all the more sing bettering students achievements when they are function as a gathering. It is call as ‘people achievements ‘ or ‘interpersonal achievements ‘ . Cottrell.S ( 2008, p93 ) . As a crew specialist I have had great involvement with my school life. It could help me to pass on with one another ‘s and bring others thoughts into my gathering each piece great as I can advance individuals in my gathering. I can partition my discernment, musings among the gathering individuals other than I can advance them, I can listen them in the end I can pull off my gathering into progress. What are my Failings? Association of larning Kennedy. J ( 2005, p6 ) brought up â€Å" arranging and shaping your clasp quickly empowers you to hinder up significant stretches of scholastic study into reasonable and accomplishable points † . Aptitude Audit discovers I am hebdomad with association of larning. I have n’t program for my surveies ; I have n’t great sorted out my discussion notes. In some occasion it seriously adequate when I am oppressing my assignments, when I am going for my discussions and when I am going up against to test. Time Management Study achievements poll discover I have less capacity to pull off my clasp. It appears I am off from telling my ain clasp, much clasp take to complete endeavors, no clasp to free. I am non using cut even cluster for my twenty-four hours to twenty-four hours works that makes me issue with my assignments cutoff time. I m non plan my scholastic endeavors. Study executes poll and SWOT shows I did non comprehend request of clasp bearing. Amendment and test procedures Aptitudes Audit proposes I need secure more understanding about change and test strategies. Update we requirement for to recuperate of import data, hypothesis and strategies that can use for our surveies ( University of Worcester, 2007 ) . This happened I have non use any past test records. It appears I have n’t great plans for face investigation. For a moment I am frail arranging cut and get bying with uneasiness in the test room. Openings In my applied ascertaining plan I need to progressively opportunity to follow a few kind of personnel it is passing on me more possibilities. Scholarly imparting This personnel is passing on me grade odds of better my scholarly creation achievements. It is giving stopped distinctive involvement in new composed scholarly endeavors. Especially it guides us to how to use English language structure and jargon appropriately and keeping away from counterfeiting. Scholastic conveying personnel is giving right guidance for study initiation. It makes us much simple when we are making our surveies in different resources. Undertaking course Task heading is giving experience perception to pull off single endeavors. It is provide more possibilities venture guidance methods and expert issues in industry. Arranging, programming, evaluating, peril bearings are a large portion of import in this workforce. In this manner we are using Microsoft Project as a PC based endeavor heading device. It is increasingly utile for my other staff for mange the workforce undertaking by using this personnel experience. Item Oriented Modeling and Design In this workforce we are procuring more understanding about Object-situated builds and an item arranged improvement methodology. To make this we are using Unified Modeling Language as a methodological examination. In this personnel we are larning to design the auxiliary and dynamic features of data frameworks using UML. Enterprise and Small Business These resources supportive to get down our ain worry with no others help. In this personnel we learn requests for startup little concern. It advisers for how to build up compressive concern program to progress. We get another opportunity to procure concern considerations to progress from top concern work powers in light of the fact that every single hebdomad distinctive concern work powers carry on our workshops. My plans to improve of fizzling I have just distinguished what are my qualities and what are my failings. In the event that I need an accomplishment in my study I need to keep my quality consistently I should hold great program to from my failings. aë†? Plans for association of larning I have distinguished I have n’t great plans to be after my surveies. Thusly I have to well program my surveies in every single personnel we are obtaining mentor notes so I have to set up so in to amend request so it. My following recommendation is I need to give pull off my clasp to make my assignments before to cutoff time. Some clasp it will hard me to secure use it since I am ever occupied with my work. Plans for Time Management In this occurrence I need to be aware of my clasp in how is needed to use that in legitimate way. I recommend I need to do cut plain cluster for my surveies. With the goal that I need to be after and structure my surveies for a representation I can be after my scholarly semester or scholastic twelvemonth. After that I can investigate out my program is working or non appropriately. It is a greater amount of import when I am working with cutoff times. I think it is help me to subject my assignments on cut. Plans for Time Revision and test methods To show signs of improvement of with this bombing I have to peruse more books and I need more example to remember all that I have contemplated. I recommend I can use my free clasp to recoup my surveies. I need to take drumhead and need to deliberately go through my discussion note after my completion my discussions to secure free of this coming up short. I would like to occur out base on balls test archives and travel through that before I face to test. Some clasp it is difficult to me occur out test base on balls reports identified with my personnel. Else it will simple for me. Occasions or individuals may smother your turn of events My assurance shows numerous occasions and individuals repress my turn of events. Facebook is universe praised cultural systems administration site. I think I am totally worn out my important clasp with Facebook. In Facebook I am bite the destining with my companions, I am watching their updates each clasp and watching others exposures. So it takes over two hours for each twenty-four hours. It is seriously influence me to when I am making a trip to my clasp for surveies. Typically it takes at least two hours to fix our repasts that other than cut blowing and it chop down our overview cut. In my free clasp and ends of the week I am viewing athleticss occasions or a film or melodic plans on Television. These occasions other than baldly influence to my turn of events. Transportation achievements to for future calling yearnings We have two kinds of capacities that are found out capacities and characteristic capacities. Learned capacities are our achievements and normal capacities are our gifts. Move achievements are the achievements and capacities we have chronicled during any action in our life ( occupation, classes, endeavors, side interests, athleticss ) . These capacities are a greater amount of import for your future calling. Learned capacities are aptitude you all through in your life ( Leading Org Solutions, 2009 ) Therefore I am heading out to occur out barely any achievements that I can use for progress my future calling goals. Every single achievement we have that are extremely of import for our from this point forward in here I heading out to talk not many of them. Shaping work It is increasingly useful for your fut

CONTRACTING WITH THE FEDERAL GOVERNMENT Research Paper

CONTRACTING WITH THE FEDERAL GOVERNMENT - Research Paper Example The root start of the half breed contracts was the point at which it was understood that absolutely nonexclusive agreements had their significant drawbacks that prompted their wasteful aspects. For instance the fixed value cost began being excessively exorbitant inferable from the quantity of vulnerabilities in the agreements. The introduction of crossover sort of agreements was seen when the fixed value contracts were presented a few changes. This began with the financial value modification where the costs would be differed dependent on some of specific possibilities, for example, the expense of work. This along these lines included some hybridism in the agreements. One of the main drivers of the cross breed contract is the dynamic idea of the current day contracts. The vast majority of the present day contracts are not as inflexible as the past days’ contracts. The outcome, in this way was the need to enhance the different agreements that existed. One of the principle points of interest is that with crossover contracts, one can appreciate the different preferences gain from various mother sort of agreement. For instance, with the fixed cost, the expense was foreordained ahead of time even before the agreement begins. This implies the contractual worker takes all the dangers related with the agreement. In any case, when the variable perspective is acquainted with the agreement, the temporary worker is protected of a portion of those dangers. The other favorable position of crossover contracts is with the adaptability related with the agreements themselves. The greater part of the half and half contacts dissimilar to the next explicit agreements that are carefully upheld by the law, there is space for adaptability with the mixture contracts. This adaptability with the half breed contacts gives it an extraordinary edge over the other static sorts of agreements where explicit particulars must be followed exactly. Through half and half contracting, particularly with explicit legislative agreements likewise increment the odds of winning an offer. Kate M. Manue l(2010)

Poverty in Australia Essay examples -- Poverty Essays

Neediness in Australia Before talking about the degree of destitution in Australia, it is first vital to make reference to the contrast between total neediness and relative neediness. Supreme Poverty is where hardship is extraordinary in light of the fact that individuals don't approach the fundamental necessities, for example, food, garments, and asylum. Interestingly Relative Poverty is a circumstance wherein the rate of destitution is estimated comparative with things, for example, normal week after week profit or salary per head. Subsequently neediness, as discussed in Australia is where pay is deficient to meet the base needs of the family unit or person. The Poverty Line is the degree of pay underneath which the salary of the family unit or individual is deficient to meet the basic needs of the family unit or individual as controlled by society. The Poverty line is dictated by a level of normal week by week profit. In 1966, the first neediness line for Australia, was set by Professor Henderson as fundamental pay in addition to the kid enrichment payable for two kids. There is an unmistakable absence of ongoing information on destitution in Australia, thusly we need to think back similarly as reports from the 1970’s, so as to locate any applicable data on neediness in Australia. In 1975 there was a report made on the degree of neediness in Australia by Professor Henderson. It has since been known as the Henderson Report. The Henderson Report found that 8.5 percent of Australians were living under the destitution line. It additionally found that: â€Å"Most of the poor experience the ill effects of at least one of the accompanying inabilities: mature age, absence of a male provider, an enormous number of dependant kids, ongoing movement to Australia, or delayed disease. The frequency of neediness was a lot higher in these classifications than among those with no of these disabilities.†(Henderson 1975) At the hour of this report normal week after week income in Australia were $165 every week, the destitution line for a solitary individ ual was set at $49.60 for a solitary individual, and $93.20 for a couple with 2 youngsters. (Jackson, McIver 1998) A report like the Henderson report was done in 1987, where the destitution line, despite everything utilizing the first technique utilized in 1966, had been raised to $146 every week for a solitary, and $274 every week for a couple with two youngsters. (Jackson, McIver 1998) Although the neediness line had ascended because of monetary develop... ... each fortnight as a general rule, and without the issues of going to work each morning. While the Australian Welfare System isn't immaculate it manages without question aid its principle target which is lessening disparity of wages, and in this manner the degree of neediness. In spite of the fact that there is no present information on the measure of Australians living under the neediness line, and it is extremely hard to assess, it shows up likely that utilizing Professor Henderson’s unique strategy, the expanding imbalance in the dispersion of family unit livelihoods has caused the level of Australians living underneath the destitution line to expanded generously. Reference index: Collier, B. 1992. Presenting Economics. Sydney, New South Wales. Anzarut, D. 1985. Senior Economics. Melbourne, Victoria. Lipsey, R. Langley, P. Mahoney, D. Positive Economics for Australian Students, Sydney, New South Wales. National Coalition against Poverty. 10 September 2001. URL http://www.bsl.org.au/ncapwebsite Patterns in Income Inequality in the 1990’s. 15 September 2001. URL http://www.natsem.canberra.edu.au/bars/cpol.html. Pearce, Y. August 20 2001. â€Å"Poverty level ‘Just hot air’† The West Australian.

Critiques On Economic Nationalism, Economic Liberalism - 5500 Words

Critiques On Economic Nationalism, Economic Liberalism (Term Paper Sample) Content: PARADIGM CRITIGUE PAPERInternational political economy is the study of the interaction and tension between politics and economics; concerning issues that are international in nature. Theodore H. Cohn in his book Global Political Economy, asserts that, International Political Economy is concerned with the interaction between the state, a sovereign territorial unit, and the market, a coordinating mechanism where buyers and sellers exchange goods and services at prices determined by supply and demand (2012, 3). There exist various paradigms to understand International Political Economy. These paradigms are; Economic Nationalism, Economic Liberalism and Economic Radicalism. These paradigms have different approaches towards analyzing International Political Economy, their assumptions and policy prescriptions vary.Economic Nationalism is a paradigm that is built around the idea of the state; Economic Nationalists argue that the most important actor in the global economy is the state. To them, since international politics is characterized by a system of anarchy, the survival of countries in the global economy is based on the policies their respective leaders make. They have various assumptions and policy prescriptions towards the Global Economy. They argue that for the survival of a state in the Global Economy, the individual states should first prioritize in building the foundation of their Economy, protect the infant industries and regulate the competition before subjecting the state`s economy to international competition. Friedrich List a proponent of Economic Nationalism, argues that the power of producing wealth is more important than wealth itself the wealth of any country is dependent primarily upon its productive powers (1841, 17-18). Economic Nationalists hold that the ultimate measure of a society is not its ability to consume, but rather its ability to produce, a society`s well-being is determined not by what it can buy, but by what it can m ake. To scholars like List, the main assumption of Economic Nationalism is to create a stable economy by ensuring that production is done locally. List, in his work `The Theory of the Powers of Production and Theory of Values`, argues that in building the stable economy locally, various factors come into being which are fundamental in ensuring that the local economy is advanced before taking part in International Trade. However, most depends in all these respects on the conditions of the society in which the individual has been brought up.whether in the Nation all the factors of material prosperity, agriculture, manufactures and trade, have been equally and harmoniously cultivated; whether the power of the nation is strong enough to secure to its individual citizens progress in wealth and education from generation to generation (1841, 20).According to Economic Nationalists, the most important aspect in International Economics is the future of the local markets in individual states and a lot of concern should be on how these local manufactures can prosper; the immediate benefit in the market should not be a factor but the concern should be future benefits. Countries should value the development of manufacturing industries. Manufactories and manufactures are the mothers and children of municipal liberty, of intelligence, of the arts and science, of internal and external commerce, of navigation and improvements in transport, of civilization and political power. (List, 1841, 23). For the betterment and building of infant industries which is a major concern of Economic Nationalist, List argues that it would be important for states to even sacrifice some present advantages in order to ensure future advantages.There exist some policy prescriptions in promoted Economic Nationalist; one of the main policies is to protect the market and infant industries. New unprotected manufacturing power cannot possibly be raised up under free competition with a power which has long since grown and is protected on its own territorycheap imports can have immediate benefits but devastating long-term economic consequences for a country by limiting the development of its manufacturing capacity (List 1841,25). To them, the market economy should be regulated specially to protect small and infant industries. Capital inflows should be checked, in any country, especially in the early stages of development, capital flights have to be prevented in order to ensure that whatever investable surplus that is generated in the economy at least stays in the country (Chang 2002, 204). They can also impose heavy tariffs and domestic taxes so as to ensure foreign industries do not overwhelm the local economies thus protecting the local market. Governments increasingly tightened the terms on which international companies could operate forcing on them joint ventures with state institutions and occasion expelling them altogether (Weitzman 2012, 92). Economic Nationalism prioritizes p olitical considerations over purely economic ones; they believe International Economics is zero-sum game.However good the paradigm is, it has faced various criticisms especially on its policy prescriptions, critics argue that over-protection of the economy can scare away investors and make the local market saturated with local goods that lack international competitors. They also prioritize politics at the expense of the economy. Critics argue that it could be cheaper to buy some products than to produce them locally therefore, not everything should be made locally. In my opinion, the idea of protecting infant industries is a hindrance to development since an economy cannot grow on locally produced goods and services alone; there should be diversity and economic competition with other economies.Economic Liberalism is another paradigm used in the study of International Political Economy; Liberalism is a theory that is built around the idea of democracy. Economic Liberalism advocates f or free and open market in the world economy. Proponents of this school of thought are anti-protectionist of the market economy as they argue that trade promotes economic development and that industries should specialize in those areas where it has some advantages. To Economic Liberalists, trade restrictions to promote certain industries are counterproductive; they reduce the amount of capital available to invest in the economy.Just like Economic Nationalists, Economic Liberals too have various assumptions and policy prescriptions. To them, the main actor in the Global economy is the individual; he is the primary decision maker in the market world. Since individuals are rational actors, they tend to maximize utility at the lowest cost to themselves. Economic Liberals assert that the market functions in accordance with the laws of supply and demand; for example, if all factors remain constant, the higher the price of a good, the lower the quantity demanded. There is long-term harmony of interest between buyers and sellers. When problems arise these forces work to ensure equilibrium in the market. To them, a market economy has self adjusting mechanisms. State intervention is viewed with deep suspicion; markets should be left to be free. Classical Liberals focused on long- term equilibrium; however to Keynes the concern is the short term. He argued that the long term projection of the market will find us dead. Keynes sided with Malthus. His first major impact on economics was to switch the focus of economics reasoning from the long run to the short term..but this long run is misleading guide to the affairs. In the long run we are all dead (Skidelsky 2009, 79-80).Liberals believe that states benefit mutually from international production and exchange. Free flow of capital should be supported. Under economic Liberalism, there are some concepts that explain the ideas behind Economic Liberalism; Hegemonic Stability theory and Globalization. However to broaden the dis cussion of Economic Liberalism, I will discuss Globalization. Globalization refers to the idea of expanding market economies around the globe so as to reach a wide range of people. It has been propagated by liberals who argue that there should be free market economies, free trade, and little government interventions in the market.There are ways in which globalization has impacted the developing world, positively and negatively. Some of the arguments in the support of Globalization are that it puts limits on the power of government; it makes trade easier and faster, consequently increasing the production of goods and services. As economic integration has progressed, the annual growth rate of the world economy has accelerated from 1 percent in mid-nineteenth century to 3.5percent in 1960-2000. Sustained over many years, such jump in growth makes a huge difference in real living standards (Dollar 2002, 123). It also works in favor of poor people; it uplifts the poor to be rich and bene fits producers by giving them greater choice over their raw materials, production techniques, and human talent. Across all countries, income of the poor grows at around the same rate as GDP. Of course, there is a great deal of variation around that average relationship. In some countries, income distribution has shifted in favor of the poorfor many globalizers, the overall change in distribution was small, and in some cases (such as the Philippines and Malaysia) it was even in favor of the poor (Dollar 2002, 128).Globalization provides Economic benefits and enhances individual liberty. It helps to enhance the most fundamental freedom of all, the freedom to define our own identities. Globalization reduces poverty and increases education. Child labor has declined...

The Competitive Worlds Growth Of A Business - 1456 Words

INTRODUCTION In the competitive world, growth of a business is based on its ability to generate revenue not just from the local market but also searching for opportunities in the international market. The similar can be magnified for a country, where some economies as whole are credit to International demand till a great extent. In case of few countries, namely Japan and South Korea, that initially functioned as Protectionist, looking after the domestic market, open their markets after WWII and adapted export driven attitude, since being endogenous can’t work well in small populated countries. South Korea proved to have a good model of how a low income country became high income country. When countries around the world where looking for Import Substitutes Korea took up the opportunity and created attractive environment for foreign investors. Japan, who were already leading the export market, has to be credited till a great extent for opening Korean market. The Japanese government `off shored for labour-intensive industries to more to Korea and continue to export to third countries, further Japan also allowed the Koreans to develop their own links with the US market at the time when they started approaching new markets (RJ Castley, 1995) With very similar functions and practices going on the both country few indicators like GDP Growth Rate, Export (percent of GDP) and Inflation will help point out the similarity and difference in last few years: GDP GROWTH (%) Figure 1Show MoreRelatedThe External Competitive Environment at Lenova1593 Words   |  6 Pagesespecially when the industry is extremely competitive or volatile. Industry evolution brings change in sources and nature of competition (Porter 1979). This essay will analyse the external competitive environment and critically evaluate the strategies employed by Lenovo, a Chinese technological corporation, in dealing with the overall declining trend of the PC (personal computer) market. Case study overview Recent years saw the worldwide PC market growth rate undergoing a drastic plummet (ArthurRead MoreVodafone: Out of Many, One1207 Words   |  5 PagesVodafones Vision Statement Our vision is to be the worlds mobile communication leader - enriching customers lives, helping individuals, business and communities be more connected in a mobile world. Executive Summary Vodafone Group, PLC is the worlds largest cell phone provider with 150 million customers and operations in 16 countries and minority stakes in companies in 10 other countries. Its first mover advantage and acquisition strategy along with its ability to continuously transformRead MoreAnalysis Of Honeywell s Strategic Planning1629 Words   |  7 Pagesincrease business and revenues through robust strategic planning. 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Ethics in Management Accounting - 2322 Words

ASSIGNMENT ON ASSURANCE OF LEARNING – ETHICS IN MANAGEMENT ACCOUNTING (CMA) Awoluyi Adekunle, Matric Number: 201403007 JUNE 29, 2015 MEMBA 3 LBS, Lagos AWOLUYI ADEKUNLE Matric Number: 201403007 Introduction The source of cost management ethical problems in any organization can be one or more of the following; 1. 2. 3. 4. Organisation’s management expectation Vs. professional ethics Personal desire for recognition / and promotion within the company Strife for quick money or cash Personal commitment or colleagues commitments In view of this, certain steps are required to be taken to ensure that strict adherence to business ethics is promoted within every organization. Several professional bodies have tried†¦show more content†¦It is important to note that all the information used by Wessling was deduced from the information generated by the Accounts department. Which reflects that the department have the required information to embark on adequate analysis for decision making in the company. Information gathered from the account’s department analysis was not sufficient enough to have made the decision made by Paul Hanson. Product 103 have more market share (10%) than any other product the company produces, a well-informed accountant would have taken the pain to further analyse and discuss the cost elements with the respective department to ensure that the organization either maintains its position in the market or improve it while remaining profitable. The effect of discontinuing Product 103 includes; 1. Loss of job to most factory workers – the possibility of Hanson to redeploy workers on product 103 to other lines maybe almost impossible, especially if the production line is saturated. AWOLUYI ADEKUNLE Matric Number: 201403007 2. Loss of Contribution Margin – the contribution margin of Product 103 would have also being lost and recovery of apportioned fixed cost would have no longer been feasible based on the discontinuation of the product. Generation Evaluation of Various Alternatives to address the ethical challenges More importantly in Hanson, the company needs to; 1. Engage a competent and well-seasoned cost accountant who canShow MoreRelatedManagement Accounting : Code Of Ethics1588 Words   |  7 PagesManagement Accountants’ Code of Ethics A code of ethics is necessary for the success of any type of business whether it be a professional service organization such as a law firm or an accounting firm, a manufacturing company such as Chrysler, Toyota, Apple or Microsoft, or a retail company such as Walmart or Target. Within each type of organization lie various types of services that are governed or controlled by a specific set of standards and code of ethics. 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Manufacturing of Business Product

Question: Discuss about the Report for Manufacturing of Business Product. Answer: 1. Fixed manufacturing overheads refer to those costs which are indirect in nature but related to the manufacturing of the product. These are typically fixed in nature and hence do not vary as per the volume of the output produced. In the event that output is lesser, then the fixed manufacturing cost allocated to each item would increase. However, since these are essentially fixed, hence they are not related to the production activity actually been undertaken (Drury, 2008). There are essentially two methods to compute the income statement i.e. Absorption costing and variable costing. In case of absorption costing, the fixed manufacturing overheads are included in the product cost and not the period cost. Hence, the fixed manufacturing overheads are computed by dividing the total fixed manufacturing overheads by the total production level of the product. Thus, the contribution margin is computed by deduction of fixed manufacturing overheads. In case the production is higher than the demand, then this method ensures that some of the fixed manufacturing overheads is transferred to the inventory cost and deferred to the next period and hence provide a boost to the profits of the company (Bhimani et. al., 2008). In case of variable costing, the fixed manufacturing overheads are not included in the product cost but as period cost. As a result, the per unit fixed manufacturing overheads does not need to be computed. Also, the complete fixed manufacturing overheads would be accounted for in the income statement and no component would be deferred to the future through the medium of inventories. Hence, typically this would lead to a lower profit figure as compared with the absorption costing since all the fixed manufacturing overheads would be accounted for in the income statement (Seal, Garrison Noreen, 2012). Maria indeed has vested interest in the given case which is why she is insisting on overproducing the product so as to cause a huge inventory and by adhering to the absorption costing, she would shift a host of the fixed manufacturing costs in the future through huge inventory. Clearly, this is incorrect and hence the absorption costing must not be used for external reporting (Petty et. al., 2015). External Reporting With regards to reporting to external stakeholders, it is recommended that the variable costing would be the preferred method as this ensures that an accurate picture is presented to the shareholders with regards to the performance of the company and the various costs already incurred (Parrino Kidwell, 2011). Internal Reporting With regards to internal reporting the firm has got a choice between absorption costing and variable costing. While taking decisions regarding pricing, the absorption costing is the most suitable since it takes into consideration all the costs actually involved in production and hence lead to better accuracy with regards to costing of an individual product. However, in cases of evaluating an external contracts in case of idle demands, it is recommended that the company deploys the variable costing into account as the fixed manufacturing cost is not an incremental cost and hence quote to external parties should not include this (Bhimani et. al., 2008). 2. It is apparent that there are three market segments of Cinto namely General Supermarket, Pharmacy Chains and Pharmacist owned single stores. Gross margin = (Gross Profit/Total Revenue) *100 Gross margin (General Supermarket) = (108000/3708000)*100 = 2.91% Gross margin (Pharmacy Chains) = (150000/3150000)*100 = 4.76% Gross margin (Pharmacist owned single stores) = (180000/1980000)*100 = 9.09% The cost per activity for the given activities is summarised in the table below (Brigham Ehrhardt, 2013). ACTIVITY LEVEL Activity General Supermarket Pharmacy Chains Pharmacist owned single store Total activity Total cost ($) Cost driver rates ($) Orders Processed (Number) 140 360 1500 2000 80000 40 Line items orders (Number) 1960 4320 15000 21280 63840 3 Store Deliveries made (Number) 120 360 1000 1480 71000 47.97 Cartons shipped to stores (Number) 36000 24000 16000 76000 76000 1 Shelf Stocking (Hours) 360 180 100 640 10240 16 Cost driver rates = Total cost/Total activity level The allocation of the other operating costs based on the above cost driver rates is shown below (Drury, 2008). Activity General Supermarket Cost ($) Pharmacy Chains Cost ($) Pharmacist owned single store Cost ($) Orders Processed (Number) 5600 14400 60000 Line items orders (Number) 5880 12960 45000 Store Deliveries made (Number) 5,756.76 17,270.27 47,972.97 Cartons shipped to stores (Number) 36000 24000 16000 Shelf Stocking (Hours) 5760 2880 1600 Total operating costs ($) 58,996.76 71,510.27 170,572.97 Operating Profit (General Supermarket) = 108000 58996.76 = $ 49,003.24 Operating profit as a % of revenue (General Supermarket) = (49,003.24/3708000)*100 = 1.32% Operating Profit (Pharmacy Chains) = 150000 71510.27 = $ 74,489.73 Operating profit as a % of revenue (Pharmacy Chains) = (74,489.73/3150000)*100 = 2.36% Operating Profit (Pharmacist owned single store) = 180000 170572.97= $9,427.03 Operating profit as a % of revenue (Pharmacist owned single store) = (9427.03/1980000) *100 = 0.48% From the above calculations, it is apparent unlike the gross profit margin which is the highest for pharmacist owned single stores, the operating profit margin is the highest for pharmacy chains and lowest for the pharmacist owned single stores. Thus, it is imperative that the overhead costs must be allocated correctly so as to identify the actual profitability of the various segments (Brealey,Myers Allen, 2008). Based on activity based costing, profitability margins are in the following order. Pharmacy chains General Supermarkets Pharmacist owned single stores. 3. The manager of Hair Suite III would be the most effective as he/she is displaying the participative approach of management which enables the team to arrive at a sustainable and mutually agreeable solution. This is because the manager put forward the problem before the stylists and has worked out as a solution which resolves the problem without disturbing their current job timings or quality. In case of Hair Suite 1, the manager follows a authoritative management style where it is recommended that the time per customer would be reduced and also the breaks without having any discussion with the stylists as to whether their work would be adversely impacted by such a schedule. Similarly, in case of Hair Suite II, the manager does not discuss the problem or ask for a feedback on a suggestion but goes and straight away directs that the stylists need to work one hour more on a daily basis (Bhimani et. al., 2008). The stylists would be unhappy with the directive given by managers of Suite I and Suite II. This would be because there has been no discussion with the core problem and the likely solutions but instead a particular solution has been forced upon the stylists without taking their inputs and feasibility of the idea considering the impact of customer quality and stylists performance. If the stylists are unhappy, it may lead to lower productivity from the stylists and also customer satisfaction may be adversely impacted. The motivation levels of stylists may be impacted and hence they can potentially quit the saloon and look for an alternate location. Additionally, there could be increased disputes between the stylists and also the respective managers which would be counter-productive for all the possible stakeholders. In case the stylists are not willing to share their suite, then the potential alternative solutions could be as follows. The appointment timings can be customised especially for regular customers as the time required is typically known. Further, some rationalisation as per the services offered may be done which could accommodate incremental customer atleast on some days. Introduction of the rule that in one month, on one of the holidays, each person would have be serve a half day which could bring in incremental revenue. Providing flexibility to stylists that they should work overtime on some days in the week instead of everyday. The concept of stretch target can be applied in case of manager of Suite 1. This is because now a difficult target of servicing eight customers in the daily shift has been provided to each stylist and they are expected to meet this in order to successfully discharge their obligations (Seal, Garrison Noreen, 2012). This is different from the regular target of serving seven customers in a daily shift. It may be likely that due ot the ongoing nature of the stretch target, the customer service may be adversely impacted and also the stylist may feel fatigued due to a break of only five minutes between the sittings. Thus, it is highly likely that the stretched target given to the stylists cannot be met on a daily basis without compromising the quality and also increasing the potential of burn out on the part of the stylists. References Bhimani, A, Horngren, CT, Datar, SM Foster, G 2008, Management and Cost Accounting 4th eds., Prentice Hall/Financial Times, Harlow Brealey, R, Myers, S Allen, F 2008, Principles of Corporate Finance, 9th eds., McGraw Hill Publications, New York Brigham, EF Ehrhardt, MC 2013. Financial Management: Theory Practice, 14th eds., South-Western College Publications, New York Drury, C 2008, Management and Cost Accounting, 7th eds., Thomson Learning, London Parrino, R Kidwell, D 2011, Fundamentals of Corporate Finance, 3rd eds., Wiley Publications, London Petty, JW, Titman, S, Keown, AJ, Martin, P, Martin JD Burrow, M 2015, Financial Management: Principles and Applications, 6th eds., Pearson Australia, Sydney Seal, WB, Garrison, RH and Noreen, EW 2012, Management Accounting, 4th eds., McGraw -Hill Higher Education, Maidenhead