Development of Australian Law

Western culture refers to the societal structures and norms that arose from Ancient Greece and spread throughout Europe. This Included the ways their governments were run and how their legal systems developed. Australia, being a colony of the British Empire was heavily influenced by the concepts and institutions established under English government and law, which had a profound Impact on how the state, especially that of New South Wales, and federal legal systems were originated and developed, based on what was relevant to the new colony and what was not.Origin of English Law To understand how the English legal system had an influence on the concepts and Institutions In the Australian legal system, It must first be known how It was established and developed. The Battle of Hastings in 1066 which saw the Normandy takeover by William the Conqueror, saw a change in the way England was ruled, and the further development of the Feudal System to English society. The King argued that he was above all law, whilst Parliament refuted this claim.What followed was centuries of fishing that saw the legal system develop and gain power over the monarchy in order to Magna Cart The Magna Cart was a 121 5 document, that King John, was forced to sign by his Curia Regis, or King's court, as he had been abusing his powers. Restrictions were placed upon the amount of arbitrary power the King had, as well as outlines for the court systems. Its main purpose was to show that it was possible to put limitation upon the King and for the court to have some control over the ruling of the country.It was Woolworth who said â€Å"[T]he gaining of Magna Cart closes one period in the history of English law and begins another. It closes the period during which the law Is plopped by the power of the crown alone, and it begins the period which will end in the establishment of a Parliament, with power to take some share in the making a development of the law. † This movement which gave power t o the King's court was a founding component In the English constitution, which helped establish a Parliamentary system, and therefore is important in the Australian legal system.Similarly to England, Australia's parliamentary and court systems are separate entities to the monarchy, with these institutions being able to govern themselves outside of the Governor-General or Governor's capacity, thus showing the Influence hat the English legal system has. Royal Prerogative One problem faced by the King, parliament and courts was where one's power started and stopped. According to common law, the King was not above the law, however, the monarchy argued that he was above all law, and could delegate tasks to others.However, under the case of Prohibitions these Issues were discussed and findings set out the limitations each of arm of the law. These findings have influenced the concepts and institutions that were established in the Australian legal system, and how much power each of arm of g overnment has and what this entails, again roving that the concepts and Institutions of the English legal system are embedded in Australia. Separation of Powers Separation of powers refers to the government being divided into three arms- the I OFF (defining the legislation).The parliament and courts argued that nobody, including the King, was above the word of the law. In England, in Bantam's Case, the ruling against the orders of the King gave way to the notion that the courts had power over the monarchy. However, it wasn't until the reign of Charles I without a parliament from 1629-1640 and the subsequent events that this idea was cemented in law. Upon losing the Civil War against parliament in 1649, Charles I was tried for superseding the parliament and excessively taxing the people once he ran out of funds.He was the first European monarch to be tried without first being deposed, and this was an historical event in Western law. His defense being that he was King, and therefore a bove court Jurisdiction, however he was found to be guilty and sentenced to death. England was then ruled without parliament, known as an interregnum period, between 1649 and 1660. After this period, Charles II was asked back to be head of the monarchy by the parliament, however was placed under strict limitations that saw his powers restricted, and played a founding role in the idea that nobody was above the law.These actions thus saw the establishment of a separation of powers, a concept that has been put into place in the Australian legal system as well. Separation of powers is an integral part of the Australian legal system, as it stops any one branch of government gaining arbitrary power over the people. Discovery of Australia Terra Annulus, meaning land belonging to no one, is a term used to describe a new found land that gives permission for colonization.This meant that those native to Australia, with the land being declared terra annulus' were stripped of any land rights or legal rights. This meant that the British were able to colonies the land, and formed their own society, that saw the brutal treatment of Aborigines and the planned destruction of their culture. This gave way to the formation of the Australian legal system as it is known today, as the English had free reign to build society as they saw fit.Development of Australian Parliamentary System Like England, the established ways of state and federal parliament were based on a institutional framework- a set of guidelines as to how run parliament and how power is distributed. The Australian Constitution and its state counterparts are the guidelines upon which the federal and state legal systems are based. This includes a Governor, whom acts as a representative of the Queen, showing how the English idea of a Head of State was still instilled in the Australian legal system.Like England, the New South Wales Government – as well as the six other states bar Queensland, Northern Territory and the Australian Capital Territory – and the Australian Federal Government has a bicameralism system of parliament. Bicameralism is to have two houses of parliament, in Australian state and federal these are the upper house – Senate – and lower house – House of Representatives. These are similar to the English House of Lords (Upper House) and House of Commons (Lower House).This concept was brought from England to Australia, where the lower house is voted in by the people and these are the ones who propose legislative change, whilst the upper house is decided from within government, must also pass any proposed bills and can keep a balance and check of power from the elected government, to ensure that arbitrary power is not gained. The Western legal traditions from England were new colony. Development of Australian Legislation Much of early Australian legislation was based upon English law, as it was the founder of the colony.However it was Blackstone who sai d that English law would only apply in the new colony as long as it was applicable to the context, under new circumstances. The idea that to move forward as a colony, that some laws would need to be changed to promote growth, can be seen in the Cable Case, where Henry Cable was labeled as a ‘laborer' and as a ‘new settler of this place' instead of a invoice, and treated to the legal rights of those without criminal records, which was against English Law which found anyone with a criminal record to be civilly dead, that is, to have no legal rights.This landmark case gave almost all the right to obtaining legal help, a fact that was important in a colony made up of majority of convicts, so that in the future there could be social and legal development. This landmark case also saw the Australian legal system as being able to hold its own, and that it could make laws outside of English law. Although this may be the case, English ideals and trustees used still remain an integ ral part of the legislation process.Conclusion Western legal tradition, or essentially English law, built the foundations upon which the Australian legal system was formed. The concepts and institutions used in the practice of governing and the making of legislation have been taken from that of English ways, however, Australian federal and state has developed its own legislation as it has seen fit in order to appease the people of the place, and not those in England. One cannot deny however, that the English legal traditions are ingrained in the New South Wales and Australian legal systems.

Communication in the Military

Communication has always been important with in the military from day one. Wihtout this communication no soldier would know where to be or when to be there. When the U. S. military first began we fought in a completely different style than we do today. Back then there was alot more chivalry to war to than there is today. They stood on line with their chests out proud of what they were doing. Without communication the first rank would not know when to fire their muskets, when to take a knee, when to begin reloading their weapons and when to stand back up to take aim to start the process all over again.According to the Merriam Webster Dictionary the classification of communication states it’s a process by which information is exchanged between individuals through a common system of symbols, signs or behaviour. In relation, communication is the heart of what makes the United States Army what it is today. Without Communication vital information would not be passed down from the Ch ief of Command to a chain of Non Commissioned Officers to the soldiers. Not to mention, innocent lives would be in jeopardy, missions would be misconstrued, and simple information from NCO to soldier would be conflicted.Lack of communication in the army means important decision on anything would not be made. Taking from the Chief of Command, if he did communicated to his dependents on decisions such as going to war, or even making the change of declaring General Martin Dempsey chairman of the Joint Chiefs of Staff how could we improved the nation better yet a team; because all in all the United States army is a TEAM. Not having communication within a constituency of people creates an anarchy of chaos. The smallest amount of information is always imperative.For example, if a soldier goes out over the weekend and doesn’t inform anyone of he or she whereabouts and something crucial happens to him or her no one would never know because that soldier failed to communicated with his /her battle buddy more importantly their NCO. It is important to notify your chain of command where you are at all times so that they know. This is why the Army has developed the TRiPs system so that if traveling outside of the 250 mile radius of post you are required to fill out this digital form and it be approved by your supervisor before taking the said trip so that your chain of command knows your whereabouts always.When others know about one’s location it is easier to manoeuvre to find them if anything should ever go wrong. No one wants to become a victim if something should ever go not according to plan; and that’s why it is critical to notify someone whenever going out. Communication is key due to the simple fact that if the individuals involved in the social interaction do not first form a bases of what is tolerable and what is not, how than, can they â€Å"respect† the other individual.They next element that would be necessary for a healthy respectful relationship would be empathy. Without an empathic outlook by all parties engaged in communication, how might they respect another’s point of view? Empathy must follow communication, for empathy shows acknowledgement and understanding of what was first communicated by all parties. After empathy, the final and most important step towards respect is submission. Submission is needed to assimilate each individual into respect, not per say, for one or more individuals to dominate the others.Lets break down these three ideals of respect, starting with communication. Communication is the very bases for respect. Without this very basic idea, an organization as prominent as the Army of the United States could simply not exist. The relationship between communication and respect is one sided. Communication can exist without respect, but not vice versa. An example of this could include two individuals fighting over the price of an item. Both individuals are communicating, but neither is respecting the other.By any means, the bane of communication when applied to respect is miscommunication. Miscommunication in itself is the very break down of communication. Communication plays an essential role in any institution, especially in the military. The military employs two basic forms of communication; which are verbal and non-verbal. All two forms are vital to the success of the military. Without effective communication in the military regardless of the status there cannot be a positive outcome of any situation with failure to understand what is passed.Military communication has played an important role in transmitting information, orders, and reports both in the field and at sea and between command centres and deployed units both in the field and at sea. Information is transmitted from superiors to subordinates utilizing the chain of command system. â€Å"The American Heritage dictionary of English language† defines Chain of command as a system where by authority is passed down from the top through a series of executive positions or military ranks in which each is accountable to the one directly superior.Individual unit leaders exercise command by communicating orders and instruction of commanders to their respective units. Traditionally, military communication had been in the form of sending and receiving signals. â€Å"The first military comms tool was the communication automobile designed by the Soviet Union in 1934. The basics of the communications in the beginning was the sending and receiving of signals – which were encoded so that the enemy would not be able to get hold of any top secret communication.Then the advent of distinctive signals which lead to the formation of the Signal Corps, this corp. , specialised in tactics of military comms. They evolved into a distinctive occupation where the signaller became a highly technical job dealing with all available communications methods including civil ones. In the modern world, m ost nations attempt to minimize the risk of war caused by miscommunication or inadequate communication by pushing the limits of communication technology and systems.As a result military communication is more intense, complicated, and often motivates the development of advanced technology for remote systems such as satellites and aircraft, both manned and unmanned, as well as computers. Computers and their varied applications have revolutionized military comms. Fortunately military communication does not always merely facilitate warfare, but often supports intelligence gathering and communication between adversaries, and thus sometimes prevents war. Signal communication is basically a means of conveying information from person or place to the other utilizing indicators such as gestures and smoke. Signal communication or signaling has long played an important role in warfare. â€Å"This form of communication is greatly employed when troops don’t want to be heard or detected an d it serves to provide a means of transmitting information from reconnaissance and other units in contact with the enemy. † The military uses signal communcations in many different ways and have done so since the beginning of the military.Whether it be in the form of hand and arm signals within an Infantry unit to allow everyone behind them to know what they need to do at a specific time whether it be halt or stop movement, or to take a knee, to get down in the prone, to mark a rally point to meet up at. The list goes on and on and by using a signaling form of communication it allows them to do so without being heard by an enemy force that may be in the immediate area. The signaling form of communication smoke is also used by infantry units and other ground force elements to notify others what they need to do or the position in which they are in.They use smoke to notify medevac of their position in case they have wounded or KIA within their element to be picked up. Ground troo ps would â€Å"pop smoke† and wait for the medevac helicopter to indicate what color of smoke that they see to know that it is they element in which they are intending to go to. Verbal communication is the most widely used form of communication in the military. This method has an advantage over the other forms of communication. It allows the person passing the information to interpret the facial expressions of those receiving the information being passed.You can also use the web now days as a form of verbal communcation. With the addition of this tool the military has become even more effective. With this tool leaders are able to send the same message to a large group of people without having to take the time out to have a formation or a gathering of the soldiers in order to do so. This method has become the primary source of communcation within the military because of its ease and almost everyone has access to a computer and the web at some point during their duty day.It red uces time in which it takes to get information put out and reduces the amount of time that one would waste by going to a gathering or formation. The people within the conversation is ultimately unlimited to whomever they would like within it and allows for multiple responses at one said time whenever they see the message and are able to send a response without taking them away from other tasks at hand and allowing them to efficiently transition from one task to the next.Military Communication is a key to the success of everything that we do in the military. Here is an example of how the web can help efficiently pass along information in the Army. With communicating in the military it has to be clear and to the point because many times it has to be passed on to someone else and there can not be any confusion. Just recently I received and email.It was to pass along what the Commander had worked out for the holiday schedule for Thanksgiving and wanted all the units to be aware of the d ays that we would have off and the days that we needed to post a duty also give us the days for leave that service members are allowed to take and posted a memo stating that if someone is to take leave on these dates they are not allowed to take leave for the rest of the year unless it was a red cross emergency. The purpose of this email so I can inform my team on the days that we would have off and the days allotted for leave.My commanding officer was the sender and I was the receiver. The message was the days we would have off for thanksgiving holidays. The technology used was a milper messages which is a military personal message. All involved had positive feedback. The technology used was very appropriate due to this needed to be sent out to many units at one time rather than the commander looking up each email address and sending that out that way he could send it out to each unit and then the Commanding Officer can see to it that the message was passed to each person.Another f orm of military communication is Cryptography. Cryptography is one of the most influential and important assets pertaining to government today. â€Å"Cryptography is the mathematical science of preparingcommunication incoherent to parties unintended to receive the message, or Cryptography is the study of methods of converting readable messages into guised unreadable information, unless one knows of the methods of decryption. This military comms method ensured that the messages reached the correct hands and eyes or ears.Nowadays digital cash, signatures, digital rights management and intellectual property rights and secure electronic commerce are its new purviews. It is also being used in computing, telecommunications and infrastructure. † In essence this what this statement is saying is that when using cryptography you are required to enter some sort of passcode or password in order to access the material contained within the message. The military uses this method when it com es to almost any kind of electronically sent mail or information.In order to access the Army Knowledge Online website which contains soldiers data and emails you are required to enter your username and password. The passwords the military requires people to use are some of the most difficult passwords to hack. All passwords must contain uppercase, lowercase letters along with numbers and special characters. Another form of Cryptography used by the military is the common access card. This card contains soldier data within a microchip that is inserted into an identification card. When using the CAC card you also have a 6-8 digit pincode that is required when acessing government computers or material.Each soldier has a CAC card that is used to get throught the gate on each military installation. This form of Cryptography takes two essential things in the miltary and forms them both into one idea. Written communication is another form in which the military uses. The written form of comm unication is probably the most commonly used form of communication within the military. Military uses written communication everyday. Whether it be in the form of an email which can also be considered verbal or in the form of a Memorandum for record or a DA form 4856 counseling form. One of the most important concepts to master is expressed several ways: put your bottom line first, hook your reader, make it relevant to him/her. DA PAM 600-67 lists this concept first among its seven style techniques in Paragraph 3-1 and hammers the idea home again in Paragraph 3-2. AR 25-50 says â€Å"focus first on the main point† (Paragraph 1-45) and â€Å"open with a short, clear purpose statement† (Paragraph 1-46). † A MFR can be for the purpose of many different things. It can be used to give guidence of off limit establishments or be a directive on how a task will be carried out.Beyond that there are even more ways a memorandum for record may be used but those are just a cou ple that come to mind right off hand. The DA form 4856 counseling is used amongst the Army. It gives guidence to the soldier on a monthly basis or whenever they do something negative in which his or her chain of command feels it is necessary to give the soldier a negative counseling. There are many other reasons for a counseling. They can be used for promotion purposes to give the soldier a guideline to things that he or she must accomplish in order to be recommended for promotion or reasons that they are not being recommended.On a monthly basis the counseling tells a soldier how the soldier ultimately did for the previous month whether it be good or bad. The counseling will have special emphasis on what the soldier did well as well as the soldiers shortcomings, giving the soldier guidence on what he or she should work on the following month. The DA 4856 is an excellent form of communication between the Team or Squad leader and the lower enlisted within his or her team or squad when used properly.Most people in the Army do not use the counseling form in the correct manner in which it was designed to be used. This is usually due to the fact that they themselves do not understand Army communication themselves or they just do not understand how the form is actually meant to be used. The Army is begining to go back to its old way and the ways that most soldiers have been brought up in the Army is in fact the wrong way leading to what is being known as Toxic Leadership and the Department of the Army is doing their best to begin getting rid of this toxic leadership.Toxic leadership could be defined as someone that does the bare minimum or in the case of a counseling form would what is referred to as hand jamming it. Meaning that they pay no attention to their soldier but when something comes up and they do not have the counselings prepared they go back and write them and instruct the lower enlisted soldier that they are in control of to back date the form to keep th em from getting in trouble as well. This form has become more and more common within the Army that is rediculous.If someone wants to be in charge of someone they should take charge and do what they are suppose to do in that position not throwing their soldier under the bus when they think thats something they have done is coming back to bite them based on their own actions†¦ They expect their soldiers to cover them but leadership is suppose to stick up for their soldiers not throw them under the bus. What kind of signal, what kind of communication is this to the lower level soldier? Not a good one and thats all that can be said.To sum up this essay there are several different forms of communication within the military that all serve their own purpose to the military. There is the communication form of signal that can be used to signal different things from telling other soldiers what they should do next when in combat, to informing air support of your position via smoke or a VS -17 panel. There is the form of verbal communication which can be used to give a platoon or company of soldiers a safety briefing for the weekend, or just to put out guidence to a select few individuals within the element.Another form of communication being cryptography. Cryptography allows one said person to send another said person a message or email or another form of typed material that you must use a passcode, pincode, or password to access. All forms of government email use this type of communication to ensure the safety and well being of the rest of the population of the United States. The last form of communication we discussed is written. Written communication is the most important and most commonly used among the military.Written comunication can be used as a MFR or counseling session for a lower level soldier. A MFR can be used in different ways, it can be used to notify soldiers of off limit establishments or just to give guidence to soldiers on how to accomplish a said task that has been given to them. A DA form 4856 is utilized to give guidence to the lower level soldier on how well they have performed over the period of a month. Commonly known as a monthly counseling but can also be used as a negative counseling to inform a soldier of wrong doing that he or she has done to recieve the statement.Negative counselings can be used in conjunction to ultimately punish the soldier using UCMJ action. All in all communcation is an essential part of the military. The lack of communication cause serious problems as well as just the lack of understanding the communication that has been given. Communication within the military is a must or nothing will get done, or get done to the standards anyway. It is imparative that all members of the United States military understand the importance of communication and excercises it on a regular basis on order for the military to effectively function.

Second Home Essay Example | Topics and Well Written Essays - 500 words

Second Home - Essay Example Specifically, the author’s diction, her sentence structure, the choice of words, imagery, and figurative language are important aspects of the use of tone. One of the key techniques employed by the writer is the use of imagery in expressing the mood of the essay. The author is extravagant in painting images and visual aspects of the places that she describes in the minds of the readers. This use of image shapes the general idea of the subject in the mind of the reader by portraying it as either negative or negative. For instance, the writer clearly shows that she is lonely in saying that â€Å"in general, I get a huge amount of pleasure out of filling my home with the things that other people used to have in theirs. What more can I say?† The writer further portrays herself as a nonsocial being using aspects of imagery. It is, in fact, the reason why she constantly remembers her childhood and seeks comfort in personifying objects. â€Å"I had a nice phone conversation with the woman who runs the store and ordered two dolls from her store, both young ladies, thinking it would be awesome if my family was made up of two grown siblin gs living together.† The writer further explores figurative language in shaping the feelings of the reader. For example, the writer states that â€Å"I had a revival of interest in my dollhouse when I was around 11.† This statement goes to show that she was reminiscing about her childhood and missing it. The same technique is used in her later life as she remembers her dollhouse to remember her childhood. The writer uses the scale of 1:12 to show the importance of making a good dollhouse. She says that â€Å"one inch representing one foot in a real room†. Moreover, the writer personifies the dolls towards the end of the essay by calling them Lily and Hyacinth. The author uses her word diction to portray the mood of the essay by changing between formal and ordinary levels.

MANAGING IN A MIXED ECONOMY Essay Example | Topics and Well Written Essays - 3000 words

MANAGING IN A MIXED ECONOMY - Essay Example The LU provides transportation to over a billion individuals annually, a number almost equivalent to that, transported by the National Rail Network (NRN). LU’s land portfolio of more than 4,000 ha, a labour force of more than 19,000 individuals, and its coverage of most parts of London, Essex, Buckinghamshire and Hertfordshire, all serve to show the immense significance of this transport system. The Transport for London (TfL) is a public institution currently tasked with the responsibility of managing LU and other modes of transport throughout London. The principal strategy of the TfL is to ensure excellent performance of London’s transportation network, making it distinctive and more efficient in comparison to other cities around the world, while providing London dwellers with ample access to transportation. The TfL also strives to raise the performance standards of the LU in regard to environmental protection, hence making the system a global leader not only in addres sing the challenges of urban transportation, but also in environment conservation. Significant changes towards the better have already been attained in the mentioned efforts, but there are still prevalent challenges, especially in upgrading the Tube to modern standards. Background Based on historical analysis of the London Underground, major development inhibitors have been present, and particularly under investment. Poor financial backing, prior to alteration of managerial structure, had rendered the LU outdated and unreliable. The principal challenge of the body responsible for managing the LU is, therefore, attempting to continually develop a safe and reliable transport service (Great Britain Parliament House of Commons 2010, p. 42). It is, however, imperative to note that while safety and reliability are crucial attributes of an effective transport service, they should not be the sole focus of management. Other features should be accorded equal attention, and these include, time taken during travelling, as well as, quality of services offered in the course of the journey. This is because; most passengers require a fast mode of transportation, especially in the contemporary economic environment where time is a crucial resource. Quality should not be overlooked, since; if customers are granted comfort and proper service during the travel, there is a high likelihood of using the LU other than alternative means of transport. Quality of transportation and proper care of passengers are, clearly, features that London Underground’s members of staff hold with utmost regard. This is evident from the staff’s ease of accessibility and constant willingness to help passengers whenever need arises. The extensive consideration of quality is also apparent from the installation of high-tech security and information systems, which increase customers’ convenience when using the LU. Additionally, there are numerous and regular investments to increase the T ube’s accessibility for passengers (Dunwoody 2008, p. 102). Nevertheless, the management and effective running of the LU is not devoid of challenges. The primary challenge is to sustain constant transportation of passengers, while still trying to transform the

Scenario Analysis - Filling you toolbox Essay Example | Topics and Well Written Essays - 1000 words

Scenario Analysis - Filling you toolbox - Essay Example In the workplace worries scenario illustrated in this paper, I can use the problem solving tool as discussed by Hicks (2010). Hicks discusses that there are seven steps in resolving issues in the workplace. The first step is on identifying the issues – to clearly identify what the problem is, while noting that different people may have different views on what the actual issues are (Hicks, 2010). In applying this step to the current issue, I need to identify the actual issue in this scenario. The way I see it, the issue is about the uneven distribution in workload. The low pay and the heavy workload in the nursing profession is already an identified given in the current health care practice. My role as a manager would now be geared towards using the tools I currently have in order to ensure the effective running of the paediatric care unit. Short of increasing the salary of the nurses and addressing the nationwide nursing shortage problem, the only means left in my arsenal are the solutions which are within my power and authority to effectively and realistically implement. By identifying the problem as improper work distribution in the paediatric unit, I am able to set it apart from the other problems which nurses perceive as their issues. The next step in the problem-solving process is to understand everyone’s interests. These interests are the needs which I would like to satisfy based on any given solution; in some cases, we often get do not take notice of our genuine interests because we have become obsessed or fixated with one particular solution (Hicks, 2010). It is important to note that the best solution which can be applied is one which would satisfy everyone’s individual interests and in order to come up with the best solution, the manager and the subordinates need to actively listen to each other, to put aside their differences, and to find a common ground which would satisfy all their needs (Hicks, 2010). In this case, my

Barbie as a global phenomenon Essay Example | Topics and Well Written Essays - 1750 words

Barbie as a global phenomenon - Essay Example Doll Barbie is among them. If to ask a girl what present she would like to have for her birthday, she would not hesitate even for a second and the answer will be â€Å"A Barbie†. â€Å"Barbie is the cultural icon of female beauty that provides an â€Å"aspirational role model† for young girls, and 99% of 3- to 10-year-olds in the United States own at least one Barbie doll† (Helga et al 283). The question is why this doll is so popular. How did it enrapture the whole world and become a dream of every girl? More than 100 Barbie dolls are sold in the world every minute, thus Mattel Inc. makes around $2 billion annually and the sales of a famous and desired doll constitutes more than a half of Mattel’s sales. â€Å"Barbie is the best-selling fashion doll in every major global market, with worldwide annual sales of about $1.5 billion† (Mattel, 2003 cited in Helga et al 283). The activity of the company seems successful, but now the managers consider the issue how the changes in the world influence Barbie doll. The problem became relevant because of the changes brought by globalization that eliminated patterns. The image of Barbie doll demands changes. The given paper will discuss the changes brought by the globalization and the problems Barbie doll manufacturers have to solve now. Notwithstanding that Barbie does not loose its popularity, time still flies and everything changes. The doll was created in 1959 and the women of that time were very different in comparison to modern women. Now women are emancipated, their life is very active. As women change, dolls should also change. Mattel was too late to realize that the changes were necessary, thus they suffered a failure in 2001, when their competitors launched the product appropriate to the modern understanding of a perfect woman. As the competitors managed to make necessary changes in contrast to Mattel, the latter still suffers from this mistake. The company did not think about t he changes as they considered the doll to be absolutely perfect and was sure that any changes are not needed. Moreover, the manufacturers were afraid that consumers may not have accepted the changes in their favorite doll image. Thus, they did not touch Barbie doll and paid their attention to other toys. This brought a lot of harm that was realized by the manufacturers too late. They understood their mistake only by 2006, when their sales decreased by 30%, notwithstanding that the efforts were taken at once to change the look of the doll and her boyfriend, clothes, accessories. In order to save the situation, they even created a new line called â€Å"My scene†, but this imitation did not impress consumers much. The cause of the failure is the lack of appropriate long-term strategy as well as corresponding analysis of the brand and world changes, which affect Barbie’s image. Globalization brought many new changes, it changed the perception of the issues greatly. Many in ternational organizations appeared at the global market that provided people with new opportunities to work abroad, travel, see new country, meet new people and show their abilities. In the past immigration was not so active and people lived and worked in their native countries among the people of their own nation. Now it is not surprising if people from different countries work in a one company sharing their values, culture and experience. Such changes made the world more democratic and influenced all the areas, including the field of toys manufacturing. Barbie doll always served as a pattern that caused many problems: â€Å"my main personal problem is Barbie’s body, and what that does for girls’ understanding of how their bodies are supposed to look. So many young girls and women

The Relationship Between the Retail Price of Gasoline and the World Essay

The Relationship Between the Retail Price of Gasoline and the World Demand for Crude Oil - Essay Example It can found in much abundance in one place which cease to exist at some other country. This instability in the geographic distribution of crude oil makes it quite an important resource to be present in any country. The countries with its abundant deposits are on the top of the food chain economically and the countries with lesser deposits of it are quite weak economically. Hence proving the significance of crude oil for economies. Now crude oil is not only used for production of Gasoline but many other petroleum products are extracted from it. From this we can extract that crude oil has more demand as a commodity and is not only required for the production of gasoline. Gasoline is a refined form of crude oil. Crude oil is extracted or purchased in raw form and goes through various refining processes to produce gasoline. Gasoline has become as the basic commodity which has been in use for decades now as the primary fuel for powering transportation. The transportation requirements hav e been increasing each year as the population of the world increases by a significant percentage each year. Hence increasing the amount of fuel being consumed each year and the demand for gasoline. Now gasoline and crude oil have developed a relationship in which the demand for both are increasing but Gasoline is dependent on crude oil for its production hence making it the dependent product. The global demand for both gasoline and crude oil is on the rise and with no new large deposits being excavated the supply is not increasing much and the demand is growing making the prices for both oil and gasoline head upward. The gasoline we purchase majorly includes the cost of Crude oil , the refining , marketing and distribution and the taxes. So from this we can infer that there is a inversely relationship between the supply of crude oil and the price of gasoline. Also in the years we have seen where the oil prices have dropped but gasoline prices have risen which is due to the fact that there are disruptions in the supply of oil due to unrest in the middle east. (Fuel, 2011) We also can observe this for a fact that the prices of gasoline rise accordingly with the rise of crude oil price but they don’t fall at the same rate when price of crude oil falls. The matter behind this fact is that when prices are high , the retailer have to increase it so that they cover up for their profit margins but what makes the retailers bring price down when the price for crude oil falls is competition. In competition the retailers bring down a few cents to draw in more customers and so on the process continues until they reach a point where they reach their original profit margins or the price of crude oil again increases. Also the demand imbalance of gasoline across various seasons also has an effect on retail pricing of gasoline. (US Energy Information Administration, 2003) 2. Explain what Marathon could do to keep the price at the pump the same without losing profits if g lobal crude production decreased by 10%. In such a situation strategic alliances should be formed on the basis of which Marathon can make bulk purchases and at cheaper rates. If such step is not taken then Marathon will not be able to maintain a stable profit margin. By doing this Marathon will be able to purchase inventory to stock up at cheaper costs and also at the same time have enough fuel supply which would be enough to carry out operations even if there is a supply disruption of crude oil. Marathon can employee the use of

Management Information Technology Essay Example | Topics and Well Written Essays - 250 words

Management Information Technology - Essay Example The article notes that despite these advances rarely they been applied outside the laboratory where they were designed. The availability of clinical data has been observed to be crucial in the promotion of use of these developments to enhance the practice of medicine. I think the usage of the electronic medical information can be improved by creation of a common data base in the cloud. There should also be harmonization of terminologies and codes whose meaning should be included in the database so that the information stored therein can be of use to all doctors and medical practitioners all over the world. Most importantly, there should be creation of an app that are easy to build and can be used to make sense of data that has been extracted within a short time. All medical practitioners should use a common app that uses the same terminologies to avoid confusion. Today there are virtually apps for accomplishing almost everything. Why not build one for electronic health records (EHR) that is cheap and efficient. The app swiftly transforms raw data into readable information reducing the time patients have to wait to be attended to and making it possible for medical practitioners to attend to more patients within a short period of time. Therefore, t he EHR can only be useful if they are accompanied by smart IT solutions. Meyster, M. Savova, K., Kipper-schuler & Hurdle (2008). IMIA Yearbook of Medical Infromatics 2008. Extracting Information from Textual Documentsin the Electronic Health Record:A Review of Recent Research. Retrieved from

Blackout Article Example | Topics and Well Written Essays - 500 words

Blackout - Article Example This is the case even during my studies and classes as I find things that I will discuss or funny anecdotes I will send them of events that took place during the lecture or family meetings. The need to connect and be a celebrity is too great what with all the friends being in the same position and the lack of need for solitude. I simply did not relate with solitude. For the first like seven hours, I enjoyed being alone without any distractions and I even caught a lot of sleep which I rarely do because I am either surfing on the net, texting or watching television even in the middle of the night or during my study time. After the seven or so hours, I got bored and I could not think of anything to do. Anxiety started kicking in and this was closely followed by anger for even agreeing to do this. Panic was the next reaction as I started concocting these weird visions of how everything would go wrong in the world and I would be left out and I hate being a social outcast which is the feeling I was experiencing once the panic eased after discussions and long family talks of childhood memories. After that, I could not believe it but I started enjoying the solitude and I have to agree with the author that I could actually think and enjoying the intimacy of the solitude planning my future and thinking of all the goals I would like to achieve as well as things I would like to change in my life. The rest of the 48 hours passed rather too soon and I have to repeat that exercise at some point in future and do it more often as I felt very relaxed for the first time since I discovered the internet. It depends on the news. Serious news about politics, insecurity, violence and hunger create solitude as one tends to recline in this alone space to think about the present and future of oneself and others and the role one can play to

Evolution of Orangutans Essay Example for Free

Evolution of Orangutans Essay Orangutans are apes with reddish-brown hair that originated 2 million-100,000 years ago. Orangutans are categorized the Hominidae family, which is commonly known as the Great Apes. Orangutans live in Asia, only found on the islands of Sumatra and Borneo. They are known for their long arms which can reach to a length of 7m, fingertip to fingertip (See Appendix A, Fig. 1). There is no real evidence of who the orangutan’s ancestors were. The primate lineage was thought to start 65 million years ago; this began as the Euarchonta which lead to the primates present today(See Appendix A, Fig. ). Primates were divided into two groups called Strepsirrhines, which included lemurs and lories, and Haplorhines, which included tarsiers, monkeys, and apes. After 35 million years, the Haplorhines split into another two groups called Platyrrhini, which included the New World monkeys of South and Central America, and the Catharinni, the Old World monkeys of Africa and Asia, and apes. About 10-15 million years after that, the group split into two superfamillies called Cercopithecoidea which includes Old World monkeys, and Hominoidea, which includes apes. Some researchers say that the orangutan originated from Lufengpithecus, while others say that they originated from Sivapithecus. Lufengpithecus has four species; Lufengpithecus lufengensis, Lufengpithecus hudienensis, Lufengpithecus keiyuanensis and Lufengpithecus chiangmuanensis. Lufengpithecus lufengenis fossil was found in lignite beds at the Shihuiba Locality in Lufeng County, Yunnan, China. It was thought to represent Sivapithecus because of the similarities between the species. The Lufengpithecus chiangmuanensis fossil, that dates back 10-13. million years ago, was discovered not long ago in Thailand. Researchers think that the Lufengpithecus chiangmuanensis is the closest to the orangutan because of the shape of its jaw, and because it was found in Thailand near where the orangutans live today. But there is no true evidence that the Lufengpithecus is the ancestor of the orangutan by just looking at their face structure and where it was found (See Appendix A, Fig. 3). Sivapithecus lived in the woodlands of Central Asia 8-12. million years ago. It was about 5 feet long, weighing about 50-75 pounds. It had feet like a chimpanzee and it had a diet of plants with large canines. The large canines were used to eat tough tubers and stems rather than fruits. This species was when early primates came down from trees and started to explore the grasslands. Other than it’s chimpanzee like feet, its face resembled an orangutan (See Appendix A, Fig. 4). Sivapithecus mainly lived on the ground because of the size of their body. One of the things that a Sivapithecus could do is walk standing upright like a human. Standing upright for a Sivapithecus wasnt so easy as they didnt always have balance when using their hind limbs so they used their forearms to help. Walking vertically helped the Sivapithecus by walking on the ground rather than climbing trees, so they didnt need to use the trees to move around.. Walking on the ground might not have been an option because there were some areas that didnt have a lot of vegetation. As the continents were drifting apart, there was a decrease in vegetation. This was an environmental pressure for the Sivapithecus because it made them rely on their hind limbs to move around the area. Sivapithecus was so flexible that it made it easier to swing and climb trees. The extension and stable joints in their body gave them a huge advantage and helped them in the ability of hanging and swinging around in trees. There isn’t a lot of information about the ancestors of the orangutan and how it evolved because there isn’t enough evidence. Some researchers say the Lufengpithecus is the ancestor and some say the Sivapithecus is, but no one is absolutely sure if either of those two species are the actual ancestors of the orangutan. Just like the species Lufengpithecus chiangmuanensis, which was discovered about 8 or 9 years ago, there may be a species not yet discovered and it might be the orangutan’s ancestor. From what researchers found, they don’t fully know how the orangutan evolved.

Affordable Housing and Income Inequality

Affordable Housing and Income Inequality Liz White-MacDonald Abstract Nurses are faced with daily challenges to deal with an increased in acuity and complexities in regards to patient health outcomes. Nurses participate in advocacy and policy making in adjusting affordable housing to meet the demands of their patients. Policies by nurses have seen drastic changes in the housing communities which has seen an upsurge of low income families managing to secure affordable housing. These drastic changes are in realtion to the exceptional work done br registered nurses in adviacting and offering teacjing to these patients. Nurses are aware that health and poor hosuing had detrimental facets to our patients, and by provind hope and resilience to patients who are low income and lack hosuing security, we are forging an excellent nrand of nurisn gpreactice Keyword: communication, caring, interaction, therapeutic relationship Affordable Housing and Income Inequality Access to affordable housing is a serious concern facing many households in Canada, particularly for low incomes households that are trying to keep up with the high rise of housing costs. This concern with the issues related to the supply of affordable housing have focused their approach to income inequality, unfair housing markets, lack of a national housing strategy in Canada , lack of growth in affordable housing options relative to low income families. In this paper, I intend to examine the link between income inequality and affordable housing in Canada and its effect on the quality of life of the residents using a family systems approach. An important aspect of the current Canadian economy is that of the dual income family. Many dual income families in Canada require both partners to work in order to provide secure housing, childcare and food security. Most Canadians that have a decent job and roofs over their heads and the income to afforde groceries do not hesitate to argue for affordable housing. However, for low-income families, whose income can be gone in trying to keep their family sheltered in an appropriate and acceptable home, this can be faced with many economical and health issues. Consequently, many families are working full time far below the poverty line in jobs that are unstable, without security, benefits or flexibility for family related responsibilities. To qualify for subsidized housing in Edmonton , an applicant must have a gross household income of atleast $48,000 for a two bedroom, 59,000 for a three bedroom and $64,000 for a fourn bedroom, besides the gross household income potential buyers must also possess a vefication letter of job and successfully pass a criminial background check, have thhe downpayment, and credit rating. In addition, during my interview, the interviewee insisted that if housing prices fall within a decent price range for a 3 bedroom house , she will be more than happy to adjust and prioritize her list of wants/needs to fit what they can afford, however housing costs are fluctuating every year in Edmonton, and recently the Canadian Mortgage and Hosuing Corpation( 2015) stated that, â€Å" Effective June 1st, 2015, the mortgage loan insurance premium for homebuyers with less than a 10% down payment will increase by approximately 15% (Canada Mortgage and Housing Corporation [CMHC], 2015). This new change will make it tougher for low income families to access first time homes. Despite the relatively attainable steps in achieving homes in Canada, families are still facing economic issues in accessing homes. This is due to the fact that mortgages and hous ing policies have not been flexible in modifying their approach to allow low income households better options to buy newer homes. Nurses Role Nurses can be advocates in helping patients achieve affordable housing and a safer health status by connoting policies or engaging in design standards that enable families of diverse economic means, racial/ethnic backgrounds or family compositions to live in housing and neighborhoods that enable then exercise to the fullest extent possible personal choice in housing, education and employment. This choice enables families to enjoy equal opportunity for economic and social mobility and enables communities to smoothly adapt to inevitable changes over time in employment, infrastructure and demographics .Affordable housing and income inequality involves nurses participation at all levels of their scope of practice, in doing so, nurses recognize factors that prevent and/or are detrimental to their patient’s health and attempt to address the social, economic( salary and wages) and environmental aspects ( neighbourhood and services available). In their article, Anderson et al. (2003) supports the idea that Affordability of housing is linked to the health and well-being of individuals and families. When a market lacks a sufficient supply of affordable housing, lowerincome families are often forced to limit expenditures for food, medical care, and other necessities in order to pay rent.The lack of affordable housing within a community can contribute to family residential instability, as families are forced to move frequently, live with other families in overcrowded conditions. (Anderson et al., 2003) To be effective advocates, Registered Nurses will need to rely on their education and self-reflection on their own beliefs and practices surrounding income and poor housing and the effect it has on health. Nurses also need to bring awareness of poor housing and its complication on their patients’ health to the policy table. For the purpose of understanding our patient’s health it critical to advocate through policies on behalf of our patients. Advocacy presents a benchmark where health issues can be forwarded to the appropriate municipal, regional or government offices which may require policy changes. According to Goodman (2014), Opportunities for advocacy abound. Whatever one’s personal interests, commitments, and skills, there is an opportunity for every nurse to participate actively in shaping the future of nursing (p. 668). Despite the lack of affordable housing crunch, federal, municipal and government agencies have attempted to address issues related to af fordable housing. However, polies or market changes have not been met to prevent the housing crunch. Nurses through advocacy can be an important mediator in this emerging issue. Role of Advaocacy In nursing Nursing Advocacy has been one of the most vital and basic roles of the nursing profession. Despite bring intricate in nature it promotes a form of representation for our patients, supports autonomy and respect for our patients regardless of their diagnosis. In addition, advocacy acts as a mediator between the patient and the health system. In our nursing profession, advocacy is guided by CARNA through its ethical codes. These codes influences the profession in a organize and professional way. In nursing literature and research on the subject, Cole, Wellard Mummery (2014) states, â€Å" advocacy in nursing is defined as a nurse actively supporting patients in relation to their rights and choices, clarifying their healthcare decisions in support of their informed decision-making and protecting basic human rights such as autonomy. (p. 577. Nursing advocacy is usually discussed within the realms of patients right and the philosophy of nursing as a whole, however, it is critical to recognise that nursing advocacy can also be discussed as a professional approach that falls outside the therapeutic nurse patient relationship . There is always a constant call for nurses to be advacates in affordable hosuing for their patients, however most nursing advocacy are done within the span of the unit and hospital, Affordable housing advocacy encourages nurses to go beyond their normal physical space to municipal, government and federal meetings. To achieve this nurses must possess emotional strength and the right education to perform the needs of patient advocacy successfully. Using a family center approach, Nurses must work with the family to develop strategies that provided opportunities for patients. By looking at factors that affect each family member and also be able to identify each family member strength and which helps in the sustaiblity of good hosuing. Despite the strength of the Canadian housing market, affordable housing and stable vvibrant communities remain unequally distributed. These inqualities stems from the shortages of affordable hosuing communities, income inequality and current state of the country’s economy. Bryant (2003) in his article argued that , â€Å" The availability and affordability of housing plays an important role in relationship to other social determinants of health. People can go without many things, but going without housing is potentially catastrophic. If citizens are required to spend increasing proportions of available resources on maintaining a roof over their head, the resources available to support socia l determinants of health such as food and educational resources are diminished. (Bryant, 2003, p. 55). Practice Development Research by Krieger Higgins (2002) supports the increasing body of evidence that has associated housing quality with morbidity from infectious diseases, chronic illnesses, injuries, poor nutrition, and mental disorders (Krieger Higgins, 2002) . Affordable living and low income is a critical need in mitigating the devastating effects of poverty. People that lack adequate income fall prey to many diseases such as chronic diseases, hypetension, tuberculosis etc. For nurses to be successful advacates for patients in having affordable hsouing policies impemting. Nurses need to be educated and seek further nursing practice development.

ACT I notes: King Lear :: essays research papers

Act I, scenes i–ii Summary: Act I, scene i Unhappy that I am, I cannot heave My heart into my mouth. -Cordelia speaks these words when she address her father, King Lear, who has demanded that his daughters tell him how much they love him before he divides his kingdom among them (I.i.90–92). In contrast to the empty flattery of Goneril and Regan, Cordelia offers her father a truthful evaluation of her love for him: she loves him â€Å"according to my bond†; that is, she understands and accepts without question her duty to love him as a father and king. Although Cordelia loves Lear better than her sisters do, she is unable to â€Å"heave† her heart into her mouth, as her integrity prevents her from making a false declaration in order to gain his wealth. Lear’s rage at what he perceives to be her lack of affection sets the tragedy in motion. Cordelia’s refusal to flatter Lear, then, establishes her virtue and the authenticity of her love, while bringing about Lear’s dreadful error of judgment. The play begins with two noblemen, Gloucester and Kent, discussing the fact that King Lear is about to divide his kingdom. Their conversation quickly changes, however, when Kent asks Gloucester to introduce his son. Gloucester introduces Edmund, explaining that Edmund is a bastard being raised away from home, but that he nevertheless loves his son dearly. Lear, the ruler of Britain, enters his throne room and announces his plan to divide the kingdom among his three daughters. He intends to give up the responsibilities of government and spend his old age visiting his children. He commands his daughters to say which of them loves him the most, promising to give the greatest share to that daughter. Lear’s scheming older daughters, Goneril and Regan, respond to his test with flattery, telling him in wildly overblown terms that they love him more than anything else. But Cordelia, Lear’s youngest (and favorite) daughter, refuses to speak. When pressed, she says that she cannot â€Å"heave her heart into her mouth,† that she loves him exactly as much as a daughter should love her father, and that her sisters wouldn’t have husbands if they loved their father as much as they say (I.i.90–91). In response, Lear flies into a rage, disowns Cordelia, and divides her share of the kingdom between her two sisters. The earl of Kent, a nobleman who has served Lear faithfully for many years, is the only courtier who disagrees with the king’s actions.

Organ Donation Saves Lives Essay -- Persuasive, Argumentative, Argumen

About seventy-Four people a day receive an organ transplant, however an average of seventeen people die each day waiting for transplants. Did you know that more than 88,000 men, women and children currently await life-saving transplants? Every 12 minutes another name is added to the national transplant waiting list. Of those 88,000 waiting, 61,000 of them are waiting for a kidney. How many of you reading this are organ donors? I use to feel that I didn't want a doctor taking anything from me after I have passed, even knowing that two of my family members, an uncle and cousin, had severe kidney disease. It wasn't until after they had passed away that I really thought seriously about organ donation. I'm not proud of my prior ignorance or ambivalence on the subject of organ donation. However, I am now more knowledgeable on the subject. I have a bumper sticker on my car that reads, "Don't take your organs to Heaven, Heaven knows we need them here" and how true that is. When yo u hear something like that it tends to make you think about your decision not to donate. But in all honesty I wasn't completely sure about just giving my organs away, I had to do my research on organ donation, I had questions, and I wanted answers. Questions like: How are organs distributed? Can I agree to donate some organs or tissue and not others? If I sign a donor card or indicate my donation preferences on my driver's license, will my wishes be carried out? And Can I change my mind? These are some of the questions I will answer for you today along with giving you a brief description about what life is like waiting on a donor list. The first successful kidney transplant was in 1954 and is the most common transplant today. The primary f... ...donate some organs or tissue and not others? Yes. You can specify which organs you would wish to donate. If I sign a donor card or indicate my donation preferences on my driver's license, will my wishes be carried out? Even if you sign a donor card it is essential that your family knows your wishes. Your family may be asked to sign a consent form in order for your donation to occur. Can I change my mind? Yes, and you have that right to do so. You can change your mind at any time. In conclusion, people of all races, all nationalities, and all ages, depending on the cause of death, die and take with them very valuable organs that can help to fulfill a healthy life for someone who desperately needs them. What if that someone was sitting next to you? What if it was me? Or what if it was you? Don't take your organs to heaven, heaven knows we need them here.

Invisible Man Essay: Inner, Outer, and Other Direction -- Invisible Ma

Inner, Outer, and Other direction in Invisible Man Ralph Ellison wrote his novel, Invisible Man, in an attempt to open our eyes.   Ellison created his nameless character, the Invisible Man, in order to establish a medium for the message of the novel.   It is the opinion of this student that if one chooses to further examine the protagonist character, then she or he can better understand the themes behind Ellison's narrative.   As one analyzes the novel, he or she soon recognizes a number of predominant character traits that can be associated with the Invisible Man.   This student was fortunate enough to experience a lesson of that which the characteristics of inner, outer, and other direction were discussed.   Once an understanding of concepts from the lesson was established, the assessment of Ellison's work became less painful.   The characteristics are simple. Inner simply represents an individual's self-motivation for taking an action.   Outer represents an individual's attempt to please others in the actions the he or she takes, and other signifies an individuals attempts to emulate those around him.   The protagonist in Invisible Man displays each characteristic during the course of the novel, but two dominate his mindset and eventually aid in formulating Ellison's theme.   This scholar will attempt to examine each characteristic in the following paragraphs, and it is hoped that the reader will attain a better understanding of the novel itself.   The inner character attribute is nearly non-existent in the Invisible Man.   This, for the most part, can be contributed to ideologies that the character feels compelled to adopt during the span of the novel.   Although the content of each ideology differs, there are a number of const... ...imply reveal himself to society, combined with his persistence to act the part of another, prevents for true self identification.   As with Bledsoe, Ellison's protagonist remains lost and unfulfilled.   Ellison successfully creates a character capable of expressing inner, outer, and other direction, but often choosing only the latter two.   The lack of inner direction renders the Invisible Man incapable of establishing himself.   The ideologies and principles presented by others never reflected the narrator's true beliefs, and throughout the novel, he struggled to contour his mind and heart to their demands.   Ironically, the reader is faced with the dismal fact that despite the narrator's abilities, he remains just the same as he was presented in the first chapter.   He is a man without an identity.   Works Cited: Ellison, Ralph. Invisible Man New York: 1952.

Auebach Enterprises Essay

These are not presented in scholarly discussion, but are simply the solutions. Student papers are expected to be written in scholarly discussion following APA formatting guidelines incorporating solutions and supported with scholarly research. CASE 3A – AUERBACH ENTERPRISES Auerbach Enterprises manufactures air conditioners for automobiles and trucks manufactured throughout North America. The company designs its products with flexibility to accommodate many makes and models of automobiles and trucks. The company’s two main products are MaxiFlow and Alaska. MaxiFlow uses a few complex fabricated parts, but these have been found easy to assemble and test. On the other hand, Alaska uses many standard parts but has a complex assembly and testing process. MaxiFlow requires direct materials costs which total $135 per unit, while Alaska’s direct materials requirements total $110 per unit. Direct labor costs per unit are $75 for MaxiFlow and $95 for Alaska. Auerbach Enterprises uses machine hours as the cost driver to assign overhead costs to the air conditioners. The company has used a company-wide predetermined overhead rate in past years, but the new controller, Bennie Leon, is considering the use of departmental overhead rates beginning with t he next year. The following planning information is available for the next year for each the four manufacturing departments within the company: Overhead Machine Costs Hours Radiator parts fabrication†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $ 80,000 10,000 Radiator assembly, weld, and test†¦. 100,000 20,000 Compressor parts fabrication†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 120,000 5,000 Compressor assembly and test†¦Ã¢â‚¬ ¦.. 180,000 45,000 Total $480,000 80,000 Normally, the air conditioners are produced in batch sizes of 20 at a time. A production batch of 20 units requires the following number of hours in each department: MaxiFlow Alaska Radiator parts fabrication†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 28 16 Radiator assembly, weld, and test†¦Ã¢â‚¬ ¦. 30 74 Compressor parts fabrication†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 32 8 Compressor assembly and test†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 26 66 Total 116 164 Required: 1. Compute the departmental overhead rates using machine hours as the cost driver. 2. Compute a company-wide overhead rate using machine hours as the cost driver. 3. Compute the overhead costs per batch of MaxiFlow and Alaska assuming: (a) The company-wide rate. (b) The departmental rates. 4. Compute the total costs per unit of MaxiFlow and Alaska assuming: (a) The company-wide rate.  (b) The departmental rates. 5. Is one product affected more than the other by use of departmental rates rather than a company-wide rate? Why or why not?

Developing Financial Projections

PUBLIC COMPANY MANAGEMENT SERVICES WHITE PAPER Developing Financial Projections for NonFinance People This White Paper gives you the tools to answer the two most important questions any business must ask: â€Å"Are you financially prepared to begin? Are we able to sustain ourselves? † You’ll learn: †¢ What’s on financial statements and how they get there †¢ How to develop and understand income statements †¢ How to set up and read balance sheets †¢ How to use common formulas to evaluate cash flow †¢ How to create a budget using standard guidelines †¢ How to read and evaluate income projections †¢How to develop your own financial projections through a â€Å"fill in the blanks† approach† †¢ How to accurately determine the value of your idea or business This memorandum is provided by Public Company Management Services for educational purposes only and is not intended and should not be construed as legal advice. 200 4  © Public Company Management Services 5770 El Camino Road. Las Vegas, NV 89118 Phone: (702) 222-9076 http://www. pubcowhitepapers. com http://www. pcms-team. com http://www. foreigncompanylisting. com http://www. gopublictoday. com A Budget and Financial Worksheet OverviewManagers must ask, ‘is the business financially prepared to begin/continue’? Understanding basic budgeting guidelines, income projection statements, balance sheets and common formulas to evaluate cash flow help ensure successful operations. This financial knowledge significantly impacts a company’s short term and long term success. START-UP BUDGET †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ personnel (costs prior to opening) legal/professional fees occupancy licenses/permits equipment insurance supplies advertising/promotions salaries/wages accounting income utilities payroll expensesAn operating budget is prepared when you are actu ally ready to open for business. The operating budget will reflect your priorities in terms of how you spend your money, the expenses you will incur and how you will meet those expenses (income). Your operating budget also should include money to cover the first three to six months of operation. It should allow for the following expenses. OPERATING BUDGET †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ personnel insurance rent depreciation loan payments advertising/promotions legal/accounting miscellaneous expenses supplies payroll expenses Developing Projections www. publiccompanywhitepapers. om 14001 May 20,2003 †¢ †¢ †¢ †¢ †¢ salaries/wages utilities dues/subscriptions/fees taxes repairs/maintenance Other questions that you will need to consider are: †¢ What type of accounting system will your use? Is it a single entry or dual entry system? †¢ What are your sales and profit goals for the coming year? If a franchis e, will the franchisor set your sales and profit goals? Or, will he or she expect you to reach and retain a certain sales level and profit margin? †¢ What financial projections will you need to include in your business plan? †¢ What kind of inventory control system will you use?Sample balance sheets, income projections (profit and loss statements) and cash flow statements are included below along with detailed instructions for completing same. INCOME PROJECTION STATEMENT †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Total net sales (revenues) Costs of sales Gross profit Gross profit margin Controllable expenses Salaries/wages Payroll expenses Legal/accounting Advertising Automobile Office supplies Dues/Subscriptions Utilities Miscellaneous Total controllable expenses Fixed expenses Rent Depreciation Utilities Insurance License/pe rmits Loan payments Miscellaneous †¢ Total fixed expenses Total expenses Net profit (loss) before taxes Taxes †¢ Net profit (loss) after taxes INSTRUCTIONS FOR INCOME PROJECTIONS STATEMENT The income projections (profit and loss) statement is valuable as both a planning tool and a key management tool to help control business operations. It enables you to develop a preview of the amount of income generated each month and for the business year, based on reasonable predictions of monthly levels of sales, costs and expenses. As monthly or quarterly projections are developed and entered into the income projections statement, they can serve as definite goals for controlling the business operation.As actual operating results become known each month, they should be recorded for comparison with the monthly projections. A completed income statement allows you to compare actual figures with projections and to take steps to correct any problems. Industry Percentage In the industry per centage column, enter the percentages of total sales (revenues) that are standard for your industry, which are derived by dividing Costs/expenses items x 100% These percentages can be obtained from various sources, such as trade associations, accountants or banks.Industry figures serve as a useful bench mark against which to compare cost and expense estimates that you develop for your firm. Compare the figures in the industry percentage column to those in the annual percentage column. Total Net Sales (Revenues) Determine the total number of units of consulting service you realistically expect to sell each period (per month or quarter) in each area of your business at the prices you expect to get. Use this step to create the projections to review your pricing practices. †¢ Exclude any revenue that is not strictly related to the business. Cost of SalesThe key to calculating your cost of sales is that you do not overlook any costs that you have incurred. Calculate cost of sales of all services used to determine total net sales. Do not overlook transportation or travel costs if you’re working at a distance. Also include all direct labor. Gross Profit Subtract the total cost of sales from the total net sales to obtain gross profit. Gross Profit Margin The gross profit is expressed as a percentage of total sales (revenues). It is calculated by dividing gross profits by total net sales Controllable (also known as Variable) Expenses †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Salary expenses-Base pay plus overtime.Payroll expenses-Include paid vacations, sick leave, health insurance, unemployment insurance and social security taxes – may or may not be applicable. Outside services-Include costs of subcontracts, overflow work and special or one-time services. Supplies-Services and items purchased for use in the business. Repair and maintenance-Regular maintenance and repair. Advertising-Include desired sales volume and classified d irectory advertising expenses. Car delivery and travel-Include charges if personal car is used in business, including parking, tools, buying trips, etc. Accounting and legal-Outside professional services.Fixed Expenses †¢ †¢ †¢ †¢ †¢ †¢ †¢ Rent-List only real estate used in business. Depreciation-Amortization of capital assets like computers. Utilities-Water, heat, light, etc. Insurance-Fire or liability on property or products. Include workers' compensation. Loan repayments-Interest on outstanding loans. Miscellaneous-Unspecified; small expenditures without separate accounts. Net Profit (loss) (before taxes) †¢ Subtract total expenses from gross profit. †¢ Taxes – Include inventory and sales tax, excise tax, real estate tax, etc. Net Profit (loss) (after taxes) †¢ Subtract taxes from net profit (before taxes) Annual Total – For each of the sales and expense items in your income projection statement, add all the monthly or quarterly figures across the table and put the result in the annual total column. Annual Percentage †¢ Calculate the annual percentage by dividing Annual total x 100% Sample BALANCE SHEET Assets Current assets Cash $_______ Petty cash $_______ Accounts receivable $_______ Inventory $_______ Short-term investment $_______ Prepaid expenses $_______ Long-term investment $_______ Fixed assets Land $_______ Buildings $_______ Improvements $_______ Equipment $_______ Furniture $_______ Automobile/vehicles $_______Other assets †¢ †¢ †¢ †¢ 1. $_______ 2. $_______ 3. $_______ 4. $_______ †¢ Total assets $______ Liabilities Current Liabilities Accounts payable $______ Notes payable $______ Interest payable $______ Taxes payable Federal income tax $______ State income tax $______ Self-employment tax $______ Sales tax (SBE) $______ Property tax $______ Payroll accrual $______ Long-term liabilities Notes payable $______ Total liabilities $______ Net worth (owner equity) $______ Proprietorship or Partnership (name's) equity $_____ (name's) equity $_____ or †¢ Corporation Capital stock $_____ Surplus paid in $_____ Retained earnings $_____Total net worth $_____ †¢ Total liabilities and †¢ total net worth $_____ (Total assets will always equal total liabilities and total net worth) _______________________________________________ INSTRUCTIONS FOR BALANCE SHEET Figures used to compile the balance sheet are taken from the previous and current balance sheet as well as the current income statement. The income statement is usually attached to the balance sheet. The following text covers the essential elements of the balance sheet. At the top of the page fill in the legal name of the business, the type of statement and the day, month and year. AssetsList anything of value that is owned or legally due the business. Total assets include all net values. These are the amounts derived when you subtract depreciation and amortization from th e original costs of acquiring the assets. Current Assets †¢ †¢ †¢ †¢ †¢ †¢ Cash-List cash and resources that can be converted into cash within 12 months of the date of the balance sheet (or during one established cycle of operation). Include money on hand and demand deposits in the bank, e. g. , checking accounts and regular savings accounts. Petty cash-If your business has a fund for small miscellaneous expenditures, include the total here.Accounts receivable-The amounts due from customers in payment for merchandise or services. Inventory-Includes raw materials on hand, work in progress and all finished goods, either manufactured or purchased for resale. Short-term investments-Also called temporary investments or marketable securities, these include interest- or dividend-yielding holdings expected to be converted into cash within a year. List stocks and bonds, certificates of deposit and time-deposit savings accounts at either their cost or market valu e, whichever is less. Prepaid expenses-Goods, benefits or services a business buys or rents in advance.Examples are office supplies, insurance protection and floor space. Long-term Investments Also called long-term assets, these are holdings the business intends to keep for at least a year and that typically yield interest or dividends. Included are stocks, bonds and savings accounts earmarked for special purposes. Fixed Assets Also called plant and equipment. Includes all resources a business owns or acquires for use in operations and not intended for resale. Fixed assets may be leased. Depending on the leasing arrangements, both the value and the liability of the leased property may need to be listed on the balance sheet. Land-List original purchase price without allowances for market value. †¢ Buildings †¢ Improvements †¢ Equipment †¢ Furniture an Computers †¢ Automobile/vehicles Liabilities Current Liabilities List all debts, monetary obligations and cla ims payable within 12 months or within one cycle of operation. Typically they include the following: †¢ Accounts payable-Amounts owed to suppliers for goods and services purchased in connection with business operations. †¢ Notes payable-The balance of principal due to pay off short-term debt for borrowed funds. Also includes the current amount due of total balance on notes whose terms exceed 12 months. Interest payable-Any accrued fees due for use of both short- and long-term borrowed capital and credit extended to the business. †¢ Taxes payable-Amounts estimated by an accountant to have been incurred during the accounting period. †¢ Payroll accrual-Salaries and wages currently owed. Long-term Liabilities Notes payable-List notes, contract payments or mortgage payments due over a period exceeding 12 months or one cycle of operation. They are listed by outstanding balance less the current position due. Net worth Also called owner's equity, net worth is the claim o f the owner(s) on the assets of the business.In a proprietorship or partnership, equity is each owner's original investment plus any earnings after withdrawals. Total Liabilities and Net Worth The sum of these two amounts must always match that for total assets. __________________________________________________ MONTHLY CASH FLOW PROJECTION 1. Cash on hand (beginning month) 2. Cash receipts †¢ †¢ †¢ †¢ †¢ (a) Cash sales (b) Collections from credit accounts (c) Loan or other cash injections (specify) 3. Total cash receipts (2a+2b+2c=3) 4. Total cash available (Before cash out) (1+3) 5. Cash paid out †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ a) purchases (merchandise) (b) Gross wages (excludes withdrawals) (c) Payroll expenses (taxes, etc. ) (d) Outside services (e) Supplies (office and operating) (f) Repairs and maintenance (g) Advertising (h) Car, delivery and travel (i) Accounting and legal (j) Rent (k) Telephone (l) Utilities (m) Insurance (n) Taxes (real estate, etc. ) (o) Interest (p) Other expenses (specify each) (q) Miscellaneous (unspecified) (r) Subtotal (s) Loan principal payment †¢ †¢ †¢ †¢ †¢ †¢ (t) Capital purchases (specify) (u) Other start-up costs (v) Reserve and/or escrow (specify) (w) Owner's withdrawal 6. Total cash paid out (5a through 5w) . Cash position (end of month) (4 minus 6) †¢ †¢ Essential operating data (non-cash flow information) †¢ A. Sales volume (dollars) †¢ B. Accounts receivable †¢ (end on month) †¢ C. Bad debt (end of †¢ month) †¢ D. Inventory on hand (end †¢ of month) †¢ E. Accounts payable (end †¢ of month) INSTRUCTIONS FOR MONTHLY CASH FLOW PROJECTION †¢ †¢ †¢ †¢ †¢ †¢ 1. Cash on hand (beginning of month) — Cash on hand same as (7), Cash position, pervious month 2. Cash receipts†¢ (a) Cash sales-All cash sales. Omit credit sales unless cash is actually received †¢ (b) Gross wages (including withdrawals)-Amount to be expected from all accounts. (c) Loan or other cash injection-Indicate here all cash injections not shown in 2(a) or 2(b) above. 3. Total cash receipts (2a+2b+2c=3) 4. Total cash available (before cash out)(1+3) 5. Cash paid out †¢ (a) Purchases (merchandise)–Merchandise for resale or for use in product (paid for in current month). †¢ (b) Gross wages (including withdrawals)-Base pay plus overtime (if any) †¢ (c) Payroll expenses (taxes, etc. )– Include paid vacations, paid sick leave, health insurance, unemployment insurance, (this might be 10 to 45% of 5(b)) †¢ (d) Outside services-This could include outside labor and/or material for pecialized or overflow work, including subcontracting †¢ (e) Supplies (office and operating)–Items purchased for use in the bu siness (not for resale) †¢ (f) Repairs and maintenance-Include periodic large expenditures such as painting or decorating †¢ (g) Advertising-This amount should be adequate to maintain sales volume †¢ (h) Car, delivery and travel-If personal car is used, charge in this column, include parking †¢ (i) Accounting and legal-Outside services, including, for example, bookkeeping †¢ (j) Rent-Real estate only (See 5(p) for other rentals) †¢ (k) Telephone †¢ (l) Utilities-Water, heat, light and/or power (m) Insurance-Coverage on business property and products (fire, liability); also worker's compensation, fidelity, etc. Exclude executive life (include in 5(w)) †¢ (n) Taxes (real estate, etc. )– Plus inventory tax, sales tax, excise tax, if applicable †¢ (o) Interest-Remember to add interest on loan as it is injected (See 2 © above) †¢ (p) Other expenses (specify each) _________________________________________ _________________________ ____________ Unexpected expenditures may be included here as a safety factor________________________________________ Equipment expenses during the month should be included ere (non-capital equipment)__________________________ When equipment is rented or leased, record payments here †¢ (q) Miscellaneous (unspecified)–Small expenditures for which separate accounts would be practical †¢ (r) Subtotal-This subtotal indicates cash out for op †¢ (s) Loan principal payment-Include payment on all loans, including vehicle and equipment purchases on time payment †¢ (t) Capital purchases (specify)–Nonexpensed (depreciable) expenditures such as equipment, building purchases on time payment †¢ (u) Other start-up costs-Expenses incurred prior to first month projection and paid for after startup (v) Reserve and/or escrow (specify)– Example: insurance, tax or equipment escrow to reduce impact of large periodic payments †¢ (w) Owner's withdrawals-Sho uld include payment for such things as owner's income tax, social security, health insurance, executive life insurance premiums, etc. †¢ 6. Total cash paid out (5a through 5w) †¢ 7. Cash position (end on month) (4 minus 6)-Enter this amount in (1) Cash on hand following monthEssential operating data (non-cash flow information)-This is basic information necessary for proper planning and for proper cash flow projection.Also with this data, the cash flow can be evolved and shown in the above form. †¢ A. Sales volume (dollars)–This is a very important figure and should be estimated carefully, taking into account size of facility and employee output as well as realistic †¢ †¢ †¢ †¢ †¢ anticipated sales (actual sales, not orders received). B. Accounts receivable (end of month)-Previous unpaid credit sales plus current month's credit sales, less amounts received current month (deduct â€Å"C† below) C.Bad debt (end on month)– Bad debts should be subtracted from (B) in the month anticipated D. Inventory on hand (end on month)– Last month's inventory plus merchandise received and/or manufactured current month minus amount sold current month E. Accounts payable (end of month) Previous month's payable plus current month's payable minus amount paid during month. F. Depreciation-Established by your accountant, or value of all your equipment divided by useful life (in months) as allowed by Internal Revenue Service Developing Financial Projections PUBLIC COMPANY MANAGEMENT SERVICES WHITE PAPER Developing Financial Projections for NonFinance People This White Paper gives you the tools to answer the two most important questions any business must ask: â€Å"Are you financially prepared to begin? Are we able to sustain ourselves? † You’ll learn: †¢ What’s on financial statements and how they get there †¢ How to develop and understand income statements †¢ How to set up and read balance sheets †¢ How to use common formulas to evaluate cash flow †¢ How to create a budget using standard guidelines †¢ How to read and evaluate income projections †¢How to develop your own financial projections through a â€Å"fill in the blanks† approach† †¢ How to accurately determine the value of your idea or business This memorandum is provided by Public Company Management Services for educational purposes only and is not intended and should not be construed as legal advice. 200 4  © Public Company Management Services 5770 El Camino Road. Las Vegas, NV 89118 Phone: (702) 222-9076 http://www. pubcowhitepapers. com http://www. pcms-team. com http://www. foreigncompanylisting. com http://www. gopublictoday. com A Budget and Financial Worksheet OverviewManagers must ask, ‘is the business financially prepared to begin/continue’? Understanding basic budgeting guidelines, income projection statements, balance sheets and common formulas to evaluate cash flow help ensure successful operations. This financial knowledge significantly impacts a company’s short term and long term success. START-UP BUDGET †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ personnel (costs prior to opening) legal/professional fees occupancy licenses/permits equipment insurance supplies advertising/promotions salaries/wages accounting income utilities payroll expensesAn operating budget is prepared when you are actu ally ready to open for business. The operating budget will reflect your priorities in terms of how you spend your money, the expenses you will incur and how you will meet those expenses (income). Your operating budget also should include money to cover the first three to six months of operation. It should allow for the following expenses. OPERATING BUDGET †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ personnel insurance rent depreciation loan payments advertising/promotions legal/accounting miscellaneous expenses supplies payroll expenses Developing Projections www. publiccompanywhitepapers. om 14001 May 20,2003 †¢ †¢ †¢ †¢ †¢ salaries/wages utilities dues/subscriptions/fees taxes repairs/maintenance Other questions that you will need to consider are: †¢ What type of accounting system will your use? Is it a single entry or dual entry system? †¢ What are your sales and profit goals for the coming year? If a franchis e, will the franchisor set your sales and profit goals? Or, will he or she expect you to reach and retain a certain sales level and profit margin? †¢ What financial projections will you need to include in your business plan? †¢ What kind of inventory control system will you use?Sample balance sheets, income projections (profit and loss statements) and cash flow statements are included below along with detailed instructions for completing same. INCOME PROJECTION STATEMENT †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Total net sales (revenues) Costs of sales Gross profit Gross profit margin Controllable expenses Salaries/wages Payroll expenses Legal/accounting Advertising Automobile Office supplies Dues/Subscriptions Utilities Miscellaneous Total controllable expenses Fixed expenses Rent Depreciation Utilities Insurance License/pe rmits Loan payments Miscellaneous †¢ Total fixed expenses Total expenses Net profit (loss) before taxes Taxes †¢ Net profit (loss) after taxes INSTRUCTIONS FOR INCOME PROJECTIONS STATEMENT The income projections (profit and loss) statement is valuable as both a planning tool and a key management tool to help control business operations. It enables you to develop a preview of the amount of income generated each month and for the business year, based on reasonable predictions of monthly levels of sales, costs and expenses. As monthly or quarterly projections are developed and entered into the income projections statement, they can serve as definite goals for controlling the business operation.As actual operating results become known each month, they should be recorded for comparison with the monthly projections. A completed income statement allows you to compare actual figures with projections and to take steps to correct any problems. Industry Percentage In the industry per centage column, enter the percentages of total sales (revenues) that are standard for your industry, which are derived by dividing Costs/expenses items x 100% These percentages can be obtained from various sources, such as trade associations, accountants or banks.Industry figures serve as a useful bench mark against which to compare cost and expense estimates that you develop for your firm. Compare the figures in the industry percentage column to those in the annual percentage column. Total Net Sales (Revenues) Determine the total number of units of consulting service you realistically expect to sell each period (per month or quarter) in each area of your business at the prices you expect to get. Use this step to create the projections to review your pricing practices. †¢ Exclude any revenue that is not strictly related to the business. Cost of SalesThe key to calculating your cost of sales is that you do not overlook any costs that you have incurred. Calculate cost of sales of all services used to determine total net sales. Do not overlook transportation or travel costs if you’re working at a distance. Also include all direct labor. Gross Profit Subtract the total cost of sales from the total net sales to obtain gross profit. Gross Profit Margin The gross profit is expressed as a percentage of total sales (revenues). It is calculated by dividing gross profits by total net sales Controllable (also known as Variable) Expenses †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Salary expenses-Base pay plus overtime.Payroll expenses-Include paid vacations, sick leave, health insurance, unemployment insurance and social security taxes – may or may not be applicable. Outside services-Include costs of subcontracts, overflow work and special or one-time services. Supplies-Services and items purchased for use in the business. Repair and maintenance-Regular maintenance and repair. Advertising-Include desired sales volume and classified d irectory advertising expenses. Car delivery and travel-Include charges if personal car is used in business, including parking, tools, buying trips, etc. Accounting and legal-Outside professional services.Fixed Expenses †¢ †¢ †¢ †¢ †¢ †¢ †¢ Rent-List only real estate used in business. Depreciation-Amortization of capital assets like computers. Utilities-Water, heat, light, etc. Insurance-Fire or liability on property or products. Include workers' compensation. Loan repayments-Interest on outstanding loans. Miscellaneous-Unspecified; small expenditures without separate accounts. Net Profit (loss) (before taxes) †¢ Subtract total expenses from gross profit. †¢ Taxes – Include inventory and sales tax, excise tax, real estate tax, etc. Net Profit (loss) (after taxes) †¢ Subtract taxes from net profit (before taxes) Annual Total – For each of the sales and expense items in your income projection statement, add all the monthly or quarterly figures across the table and put the result in the annual total column. Annual Percentage †¢ Calculate the annual percentage by dividing Annual total x 100% Sample BALANCE SHEET Assets Current assets Cash $_______ Petty cash $_______ Accounts receivable $_______ Inventory $_______ Short-term investment $_______ Prepaid expenses $_______ Long-term investment $_______ Fixed assets Land $_______ Buildings $_______ Improvements $_______ Equipment $_______ Furniture $_______ Automobile/vehicles $_______Other assets †¢ †¢ †¢ †¢ 1. $_______ 2. $_______ 3. $_______ 4. $_______ †¢ Total assets $______ Liabilities Current Liabilities Accounts payable $______ Notes payable $______ Interest payable $______ Taxes payable Federal income tax $______ State income tax $______ Self-employment tax $______ Sales tax (SBE) $______ Property tax $______ Payroll accrual $______ Long-term liabilities Notes payable $______ Total liabilities $______ Net worth (owner equity) $______ Proprietorship or Partnership (name's) equity $_____ (name's) equity $_____ or †¢ Corporation Capital stock $_____ Surplus paid in $_____ Retained earnings $_____Total net worth $_____ †¢ Total liabilities and †¢ total net worth $_____ (Total assets will always equal total liabilities and total net worth) _______________________________________________ INSTRUCTIONS FOR BALANCE SHEET Figures used to compile the balance sheet are taken from the previous and current balance sheet as well as the current income statement. The income statement is usually attached to the balance sheet. The following text covers the essential elements of the balance sheet. At the top of the page fill in the legal name of the business, the type of statement and the day, month and year. AssetsList anything of value that is owned or legally due the business. Total assets include all net values. These are the amounts derived when you subtract depreciation and amortization from th e original costs of acquiring the assets. Current Assets †¢ †¢ †¢ †¢ †¢ †¢ Cash-List cash and resources that can be converted into cash within 12 months of the date of the balance sheet (or during one established cycle of operation). Include money on hand and demand deposits in the bank, e. g. , checking accounts and regular savings accounts. Petty cash-If your business has a fund for small miscellaneous expenditures, include the total here.Accounts receivable-The amounts due from customers in payment for merchandise or services. Inventory-Includes raw materials on hand, work in progress and all finished goods, either manufactured or purchased for resale. Short-term investments-Also called temporary investments or marketable securities, these include interest- or dividend-yielding holdings expected to be converted into cash within a year. List stocks and bonds, certificates of deposit and time-deposit savings accounts at either their cost or market valu e, whichever is less. Prepaid expenses-Goods, benefits or services a business buys or rents in advance.Examples are office supplies, insurance protection and floor space. Long-term Investments Also called long-term assets, these are holdings the business intends to keep for at least a year and that typically yield interest or dividends. Included are stocks, bonds and savings accounts earmarked for special purposes. Fixed Assets Also called plant and equipment. Includes all resources a business owns or acquires for use in operations and not intended for resale. Fixed assets may be leased. Depending on the leasing arrangements, both the value and the liability of the leased property may need to be listed on the balance sheet. Land-List original purchase price without allowances for market value. †¢ Buildings †¢ Improvements †¢ Equipment †¢ Furniture an Computers †¢ Automobile/vehicles Liabilities Current Liabilities List all debts, monetary obligations and cla ims payable within 12 months or within one cycle of operation. Typically they include the following: †¢ Accounts payable-Amounts owed to suppliers for goods and services purchased in connection with business operations. †¢ Notes payable-The balance of principal due to pay off short-term debt for borrowed funds. Also includes the current amount due of total balance on notes whose terms exceed 12 months. Interest payable-Any accrued fees due for use of both short- and long-term borrowed capital and credit extended to the business. †¢ Taxes payable-Amounts estimated by an accountant to have been incurred during the accounting period. †¢ Payroll accrual-Salaries and wages currently owed. Long-term Liabilities Notes payable-List notes, contract payments or mortgage payments due over a period exceeding 12 months or one cycle of operation. They are listed by outstanding balance less the current position due. Net worth Also called owner's equity, net worth is the claim o f the owner(s) on the assets of the business.In a proprietorship or partnership, equity is each owner's original investment plus any earnings after withdrawals. Total Liabilities and Net Worth The sum of these two amounts must always match that for total assets. __________________________________________________ MONTHLY CASH FLOW PROJECTION 1. Cash on hand (beginning month) 2. Cash receipts †¢ †¢ †¢ †¢ †¢ (a) Cash sales (b) Collections from credit accounts (c) Loan or other cash injections (specify) 3. Total cash receipts (2a+2b+2c=3) 4. Total cash available (Before cash out) (1+3) 5. Cash paid out †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ a) purchases (merchandise) (b) Gross wages (excludes withdrawals) (c) Payroll expenses (taxes, etc. ) (d) Outside services (e) Supplies (office and operating) (f) Repairs and maintenance (g) Advertising (h) Car, delivery and travel (i) Accounting and legal (j) Rent (k) Telephone (l) Utilities (m) Insurance (n) Taxes (real estate, etc. ) (o) Interest (p) Other expenses (specify each) (q) Miscellaneous (unspecified) (r) Subtotal (s) Loan principal payment †¢ †¢ †¢ †¢ †¢ †¢ (t) Capital purchases (specify) (u) Other start-up costs (v) Reserve and/or escrow (specify) (w) Owner's withdrawal 6. Total cash paid out (5a through 5w) . Cash position (end of month) (4 minus 6) †¢ †¢ Essential operating data (non-cash flow information) †¢ A. Sales volume (dollars) †¢ B. Accounts receivable †¢ (end on month) †¢ C. Bad debt (end of †¢ month) †¢ D. Inventory on hand (end †¢ of month) †¢ E. Accounts payable (end †¢ of month) INSTRUCTIONS FOR MONTHLY CASH FLOW PROJECTION †¢ †¢ †¢ †¢ †¢ †¢ 1. Cash on hand (beginning of month) — Cash on hand same as (7), Cash position, pervious month 2. Cash receipts†¢ (a) Cash sales-All cash sales. Omit credit sales unless cash is actually received †¢ (b) Gross wages (including withdrawals)-Amount to be expected from all accounts. (c) Loan or other cash injection-Indicate here all cash injections not shown in 2(a) or 2(b) above. 3. Total cash receipts (2a+2b+2c=3) 4. Total cash available (before cash out)(1+3) 5. Cash paid out †¢ (a) Purchases (merchandise)–Merchandise for resale or for use in product (paid for in current month). †¢ (b) Gross wages (including withdrawals)-Base pay plus overtime (if any) †¢ (c) Payroll expenses (taxes, etc. )– Include paid vacations, paid sick leave, health insurance, unemployment insurance, (this might be 10 to 45% of 5(b)) †¢ (d) Outside services-This could include outside labor and/or material for pecialized or overflow work, including subcontracting †¢ (e) Supplies (office and operating)–Items purchased for use in the bu siness (not for resale) †¢ (f) Repairs and maintenance-Include periodic large expenditures such as painting or decorating †¢ (g) Advertising-This amount should be adequate to maintain sales volume †¢ (h) Car, delivery and travel-If personal car is used, charge in this column, include parking †¢ (i) Accounting and legal-Outside services, including, for example, bookkeeping †¢ (j) Rent-Real estate only (See 5(p) for other rentals) †¢ (k) Telephone †¢ (l) Utilities-Water, heat, light and/or power (m) Insurance-Coverage on business property and products (fire, liability); also worker's compensation, fidelity, etc. Exclude executive life (include in 5(w)) †¢ (n) Taxes (real estate, etc. )– Plus inventory tax, sales tax, excise tax, if applicable †¢ (o) Interest-Remember to add interest on loan as it is injected (See 2 © above) †¢ (p) Other expenses (specify each) _________________________________________ _________________________ ____________ Unexpected expenditures may be included here as a safety factor________________________________________ Equipment expenses during the month should be included ere (non-capital equipment)__________________________ When equipment is rented or leased, record payments here †¢ (q) Miscellaneous (unspecified)–Small expenditures for which separate accounts would be practical †¢ (r) Subtotal-This subtotal indicates cash out for op †¢ (s) Loan principal payment-Include payment on all loans, including vehicle and equipment purchases on time payment †¢ (t) Capital purchases (specify)–Nonexpensed (depreciable) expenditures such as equipment, building purchases on time payment †¢ (u) Other start-up costs-Expenses incurred prior to first month projection and paid for after startup (v) Reserve and/or escrow (specify)– Example: insurance, tax or equipment escrow to reduce impact of large periodic payments †¢ (w) Owner's withdrawals-Sho uld include payment for such things as owner's income tax, social security, health insurance, executive life insurance premiums, etc. †¢ 6. Total cash paid out (5a through 5w) †¢ 7. Cash position (end on month) (4 minus 6)-Enter this amount in (1) Cash on hand following monthEssential operating data (non-cash flow information)-This is basic information necessary for proper planning and for proper cash flow projection.Also with this data, the cash flow can be evolved and shown in the above form. †¢ A. Sales volume (dollars)–This is a very important figure and should be estimated carefully, taking into account size of facility and employee output as well as realistic †¢ †¢ †¢ †¢ †¢ anticipated sales (actual sales, not orders received). B. Accounts receivable (end of month)-Previous unpaid credit sales plus current month's credit sales, less amounts received current month (deduct â€Å"C† below) C.Bad debt (end on month)– Bad debts should be subtracted from (B) in the month anticipated D. Inventory on hand (end on month)– Last month's inventory plus merchandise received and/or manufactured current month minus amount sold current month E. Accounts payable (end of month) Previous month's payable plus current month's payable minus amount paid during month. F. Depreciation-Established by your accountant, or value of all your equipment divided by useful life (in months) as allowed by Internal Revenue Service