Budget Finance Paper Research Example | Topics and Well Written Essays - 2250 words

The Kite Runner By John Kite Essay Example For Students

The Kite Runner By John Kite Essay The Kite Runner is an extraordinarily charming book. It is an amazingly aggravating book with most of the reasonable focal points. You know when you re seeing a movie and someone is getting tormented harshly and there is blood everywhere and it is a genuinely sensible scene? In any case, in spite of all that you see in spite of the way that it s net since you have to perceive what will happen to the person? That is the way Kite Runner is for me. In spite of the way that the book is outstandingly exasperating in various parts I would t be able to put it down considering the way that I have to keep seeking after to perceive what befalls the person after the practical and aggravating scenes. Are the ambush scenes aggravating just as the whole segment on the Buzkashi rivalry. The Kite Runner has a great deal of savagery in the book however despite the fact that the book is fierce, it s still an excellent book and you can become familiar with a ton of the critical estimation of the book.Amid the period of when this book occurs in Afghanistan there were/are various people that are oblivious. Amir was proficient and once in a while abused it. Since Amir was significantly increasingly sharp that Hassan he was persistently playing character diversions with Hassan and he would capitulate to them since he didn t by and large know lies from the real world. Assef encourages me to recall Hitler considering his perspective and exercises. Assef required Afghanistan to be essentially unadulterated afghan people and Hitler was a similar route since he simply required faultless Germans in Germany. Anyway the astute part is they required this yet meanwhile Assef was not perfect afghan and Hitler wasn t unadulterated German. There were n. .mir is getting the chance to esteem Soraya more and their relationship is getting more grounded. It s skirting on like Amir realizes his father will be gone soon so he is putting the worship and persistently endeavoring to satisfy Baba into doing that for Soraya. Amir has a lot of mixed emotions while he is getting readied for his wedding. Since Baba has passed on he is making some hard memories to topple with that yet meanwhile is the most joyful respectable man on earth since he is wedding the woman he appreciates. Amir needs to sit and reflect and review when his father and him got back for the administration of giving the word Baba revealed to Amir something fundamental. He told his that it was the best day of his life. This is essential now since this suggested Baba embraced of the wedding and we as a whole understand that Baba s evaluation matters an impressive measure to Amir.

How Sleep and Bipolar Disorder Interact

How Sleep and Bipolar Disorder Interact Bipolar Disorder Symptoms Print How Sleep and Bipolar Disorder Interact By Marcia Purse Marcia Purse is a mental health writer and bipolar disorder advocate who brings strong research skills and personal experiences to her writing. Learn about our editorial policy Marcia Purse Medically reviewed by Medically reviewed by Steven Gans, MD on December 06, 2019 Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital. Learn about our Medical Review Board Steven Gans, MD Updated on January 15, 2020 Bipolar Disorder Overview Symptoms & Diagnosis Causes Treatment Living With In Children Your Rights russell underwood / Getty Images What do you need to know about sleep and sleep patterns when you have bipolar disorder? If youve found that your sleep patterns abnormal, for example, if you either sleep 12 to 14 hours at a time or stay up all night, you may find that changing the way you sleep can substantially improve your condition. Studies tell us that sleep issues can have a profound impact on those with bipolar disorder or even those at risk for bipolar disorder.?? Before talking about how sleep habits affect bipolar disorder, however, lets look at this from the other side. How does bipolar disorder affect sleep? Bipolar Disorder, Depression, and Sleep Problems Sleep disturbances are very common in people with bipolar disorder and appear to play an important role in the cycling of the disorder.?? Insomnia - Insomnia includes not only difficulty in falling asleep, but difficulties staying asleep or getting too little sleep. Insomnia is common with many physical and mental health conditions. In those with bipolar disorder, hypomania and mania can often lead to insomnia. When this occurs, treatment of the underlying condition (hypomania or mania due to bipolar disorder) is a goal of treatment.Delayed sleep phase syndrome - Delayed sleep phase syndrome is a circadian rhythm disturbance. It can be associated with depression and other mental health issues, but is most prominent in adolescents.Irregular sleep-wake schedule - When people with bipolar disorder have a lack of a sleep  routine, the irregular cycle can greatly interfere with appropriate treatment of the disorder. Treatment focuses on treating the cause which keeps them up at night.Nightmares - Vivid dreams, nightmares, and night terrors may also affect people with bipolar disorder. As with insomnia, the goal of treatment is to best treat the underlying bipolar disorder. Its clear that bipolar disorder can lead to sleep disorders, but what about the opposite scenario? Can sleep problems lead to or precipitate bipolar disorder in those at risk for the condition? Sleep as a Precipitant of Mania with Bipolar Disorder What may surprise you is that reduced sleep isnt just a symptom of  maniaâ€"a short night can actually precipitate manic and hypomanic episodes.?? Studies have found that 25 to 65 percent of people with bipolar disorder who had a manic episode had experienced a social rhythm disruption prior to the episode. Social rhythm disruption is some disturbance in routine affecting the sleep/wake cycle; it can be as simple as staying up extra late to watch a movie on television or getting wrapped up in an interesting online chat session, or as serious as being unable to sleep due to a family members serious illness or death.?? For reasons we have yet to learn, people with bipolar disorder seem to have more delicate internal clock mechanisms, said Dr. Ellen Frank, who has extensively studied these issues. Could Sleep Disorders Actually Lead to Bipolar Disorder? Some scientists speculate that one reason the incidence of bipolar disorder has risen in modern times is the development of bright artificial light.?? Once upon a time, most peoples sleep/wake cycles were regulated by the sun. The artificial light changed all that  and made it more likely that people who have a genetic predisposition toward bipolar disorder would actually develop the condition. While a causal relationship hasnt been proven, sleep disturbances in people with bipolar disorder have also been linked with changes in the microstructure of the white matter of the brain. How to Cope Just as sleep disturbances due to bipolar disorder need to be addressed, those sleep disturbances which could worsen bipolar disorder need to be addressed as well.?? If youre suffering from insomnia, good sleep hygiene is critical. Experts recommend that you:?? Go to bed and get up at the same time every dayAvoid naps, especially naps in the late afternoon. If you must nap, try to limit your rest to around one hour.Use your bedroom for sleep and sex only.Avoid heavy meals a few hours before retiring.If you cant sleep after a certain amount of time (for example, 15 minutes) get out of bed and do something. It still important to get up at your regular time the next morning, even if you will have less than seven hours of sleep. If you are coping with hypersomnia (sleeping too much,) its often advised that you gradually reduce the amount of time you spend sleeping by using an alarm clock. Preliminary studies indicate that aggressive readjustment of the sleep/wake cycle may be of particular help for treatment-resistant rapid cycling bipolar disorder.?? Such therapy may begin by enforcing complete light and sound deprivation for as many as 14 hours per night, which can be gradually reduced once a persons moods are seen to stabilize. Psychotherapy and medications can also play an important role in improving sleep habits, and in doing so, bipolar disorder symptoms as well. Involving Your Family in Your Sleep Habits Doctors point out the need to involve a persons family in the effort to regularize the sleep/wake cycle. Family members should be taught about the vulnerability to changes in daily routine experienced by people with bipolar disorder. This awareness is critical as a partners well-intentioned, I know the party will last all night but cant we do it just this once? could nudge a person with bipolar disorder straight into a manic episode. It can also help for family members to learn the signs of an episodes onset, whether manic, hypomanic, or depressive  and be prepared to intervene before the mood swing becomes full-blown.?? Bottom Line If you or a loved one suffer from any type of mood disorder, pay attention to the sleep/wake patterns of the person involved. If you identify insomnia, hypersomnia, poor-quality sleep and/or reduced need for sleep, this should be brought to your/your loved ones doctors attention right away.?? Treating the sleep disorder is likely to significantly help the mood disorder as well.

Access tofinance as a growth constraint for SME - Free Essay Example

Sample details Pages: 6 Words: 1722 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Cause and effect essay Did you like this example? Introduction Many researchers have proved that small and medium size firms faces more constraints to access external finance as compare to large size firms. However there is no research on the factors which effects on the growth of SMEs in developing economy of Pakistan. Study shows that SME plays a key role in the economic development of the country but due to the lake of developed financial institutional structures SME sector faces obstacles to access the external sources of finance. Don’t waste time! Our writers will create an original "Access tofinance as a growth constraint for SME" essay for you Create order Government should take serious steps for the monitoring and development of financial institutional system. Regardless of the increasing interest in the development of community by providing funds to SMEs there are different views regarding to the effectiveness of Pro-SME policies. older in terms of years of incorporation, large size firms and foreigh-owned firms less hurdles to access the external sources of finance as compare to the new small size and locally owned firms. Many researchers stress on the importance of all other factors which effects the business environment for all firms. These factors includes entry and exit barriers for the new entrants in the business, presence and implementation of property rights, contract enforcement, presence of information related to the firms like credit bureau, channels for external finance. Presence of competitive business environment which allows encourages the new innovative entrepreneurs. Furthermore, access to finance plays a very key r ole in the overall business environment rather then constructive destruction in which a large number of inefficient and low growth SMEs . This paper is going to contribute in the policy making for the SMEs. Literature review SMEs, business environment and growth Studies shows that SMEs play a vital role in the economic development of the country but the imperfections in the financial institutional structure impede the progress of SMEs. Many studies at country level ad microeconomic level have reviewed the importance of SME in the industrialization process which leads to economic development ( Snodgrass and Biggs, 1996 ), on the other hand Beck et al. (2005a) studied the relationship between SME, poverty alleviation and economic growth using a cross country data base and found a signification relationship. Same sort of work has been done by Ayyagari et al. (in press) by using Cross-country data and applying regressions between GDP per capita growth and SMEs share in manufacturing Employment and showed a strong positive relationship between GDP per capita and SME share. In his study he not only controlled other variable which may effect the growth of that country but also control those variables which may become reason for reverse causation and simultaneity biases he still found a strong relationship between economic growth and SMEs. On the basis of results from this study we can conclude that SMEs do not foster the economic growth but a large share of SMEs is a characteristic of growing economy. Result of this finding is consistent with the results of Beck et al. (2005a) that a large SME sector in the economy is a characteristic of fast-growing economies, but this is not a reason of the growth of economy. Furthermore he didnt find any evidence for the relationship between large SME sector in the economy and faster income growth. Klapper et al. (in press) used firm level data of Europe and found that regulations related to entry of new businesses effects the economic development. A regulation related to the entry of new businesses is one of key element of business environment and was measured by the cost of registration for a firm, because a high registration fee may act as a barrier for the entrance of new firms. M ean while he considered property right protection and access to finance as those variables which may help the new firms to enter in the business. Further he concluded that low entry barrier and healthy business environment results high productivity, more employment and economic growth. The paper concluded that poor business environment have adverse effect on the SME sector performance because they are more sensitive to the business environmental factor such as market imperfection and dampen competition as compare to large size firms. A comparison study of Italy and UK was conducted to study the effect of entry barrier on the SME sector growth. In Italy the entry cost is 20% of GNP where as it is 1.4% of GNP in UK but the growth rate of smaller firms in Italy is slower then UK. The reason for slower growth of Italy small firms is the existence of many old and inefficient firms. But due to low entry barrier at beginning a larger number of small size firms starts out in Italy but th ey grow more slowly as compare to UK. These finding are complementary to the results of Beck et al. (2005a) and also helps to understand that why a large size SME is improbable to be linked with faster growth, Large SME sector is result of low entry barriers but also with better business environment. Firms are more likely to enter in those economies where they can easily access to external finance better property right laws and better investor protection. (Demirguc-Kunt et al., 2006 ) used firm level data from 52 different countries and found that firms are more likelihood of incorporating in those area where they face less hurdles to their growth, well developed financial institutional sector, presence and implementation of laws, investors protection in terms of strong shareholder and creditor rights, low tax rates and easy bankruptcy process. In those countries where financial and legal institutional are more developed and have favorable business environment, corporations in th ose countries reports less financing, legal and regulatory hurdles. Djankov et al. (2004) used survey data by interviewing with the entrepreneurs and non-entrepreneurs form seven cities across Russia and found that beside personal characteristics business environment is also one of the most important factor for a entrepreneurs to take decision to become the entrepreneur. The study also found several significant evidences that perception related to the corruption and attitude of government officials towards entrepreneurship encourage or discourages the entry of new firms in economy. These results are similar to the results of Johnson et al. (2002). Cull and Xu (2005) studied the behavior of Chinese entrepreneurs and found that Chinese entrepreneurs are more willing to reinvest their earnings if they feel confident and secure about legal system specially property right protection and have easier access to external finance. To study the different dimensions of business environ ment and to check that are all these dimensions are equally important Ayyagari et al. (2005) used firm level survey data of 80 countries and found that out of different variables like access to finance, legal and taxation system, corruption macroeconomic and political stability only finance and political instability have greater impact on the firms growth and finance is the most strong among all these. By combining all these results we can conclude that the presence of competitive business environment which allows encourages the new innovative entrepreneurs. Furthermore, access to finance plays a very key role in the overall business environment. In many poor countries or in developing economies the enterprises and SMEs holds a very large share and form the base for private sector-led growth (Hallberg, 2001 ). Ayyagari et al.(in press) found that SME plays a key role in the employment rate of any country he found that enterprises with up to 250 countries holds the overall 60% of the total employment in manufacturing countries. (Ber-ger and Udell, 1998; Galindo and Schiantarelli, 2003) studied both the developing and developed economies and found that in both economies small size firms have less access to the external fiancÃÆ'ÂÂ © and their growth is more effected with this constraint. Schi er and Weder (2001) show that older in terms of years of incorporation, large size firms and foreigh-owned firms less hurdles to access the external sources of finance as compare to the new small size and locally owned firms. The result of the studies were not only statistically but also economically significant. Kumar et al. (1999) studied the Indian firms and find that the average size of firms in human capital-intensive and RD intensive industries is larger in countries with better property rights and patent protection. Conclusions This article summarizes recent empirical research which shows that access to finance is an important growth constraint for SMEs, that financial and legal institutions play an important role in relaxing this constraint, and that innovative financing instruments can help facilitate SMEs access to finance even in the absence of well developed institutions. The research has a number of important policy implications. The research summarized here suggests that a competitive business environment, of which access to finance is an important component, facilitates entry, exit and growth of firms and is therefore essential for the development process. A focus on improving the business environment for all firms is more important than simply trying to promote a large SME sector which might be characterized by a large number of small but stagnant firms. Although SMEs constitute a significant part of total employment in many countries, one of the reasons they may not be able to contribute to e conomic growth is because they face greater growth obstacles. Indeed, compared to large firms, SMEs are more constrained by different obstacles, and limited access to finance is an important one of these. Research suggests improving legal and financial institutions helps all deserving firms access finance and grow, but the effect is greatest on smaller firms. Both firm-level and industry-level studies suggest that small firms do relatively better compared to large firms in countries with better-developed institutions. Furthermore, we see that in the absence of well developed financial markets and legal systems, it is difficult for firms to grow to their optimal size since outside investors cannot prevent appropriation by corporate insiders, limiting firm size. This is important for The literature suggests that a focus on improving the institutions and the overall business environment is probably the most effective way of relaxing the growth constraints SMEs face and facilit ate their to contribution to economic growth. However, institution building is a long term process and in the interim innovative lending technologies hold promise, providing market-friendly ways of relaxing the constraints SMEs face. A contestable financial system makes it more likely that such technologies will be adopted more rapidly, with foreign banks playing an important role in facilitating this process, whereas public banks have been less useful in the past.

The Psychosocial Stages Of Erikson s Theory - 999 Words

There have been many psychologists throughout generations that have studied and created theories about how we develop. Human development is something interesting on its own because during development many factors come into play. We have different factors such as biological, psychological, sociocultural, and lastly life-cycle forces that can affect how we develop into the individuals we are presently and even futuristically. But just because we have these forces does not mean that each force is a main factor to the development theories that have been discovered, and analyzed and brought into question. One psychologist I agree Erikson has a fairly understandable theory of how we develop throughout the different stages of our lives. Erikson’s theory focuses more on the idea that we go through stages that are necessary and must take place in order to reach our highest potential to than be the example for those that come behind us. (McLeod, 2013). If you look into the psychosocial stages that Erikson developed many would understand that in the ages groups you go through each of the crises that he mentions. The reasoning behind why I believe that we go through this kind of development, maybe not to its full entirety but definitely fairly close. One thing we learn throughout our lives is that we never stop growing or developing mentally. According to Erikson, he believed the same thing having even through stages beyond 18 years old including well into the mid-ages going into theShow MoreRelatedErikson s Psychosocial Theory : Development Of Ego Identity1293 Words   |  6 PagesZ oi Arvanitidis 05/16/17 ECEE-310 Dr.Alkins Studying Erikson’s Psychosocial theory Erik Erikson was a student of another theorist, Sigmund Freud. Erikson expanded on Freud’s psychosexual theory. Erikson later developed the psychosocial theory. This theory described the effect of one’s social experiences throughout one’s whole lifespan. One of the main elements of Erikson’s psychosocial theory is the development of ego identity. Ego identity is the conscious sense of self that we developRead MoreThe Boys Building A Racetrack1207 Words   |  5 Pagesrebuild their previous structures after they finish the racetrack. Erik Erikson was a student of Sigmund Freud unlike Freud, Erikson considerably focused on the social environment in a person s psychological development. Erikson’s theory is the psychosocial theory of personality development. It is important to understand a small percentage of what Sigmund Freud studied in his line of work to fully understand what Erik Erikson accomplished. Freud liked to talk about how nature and nurture contributeRead MoreErik Erikson s Theory Of Psychosocial Development884 Words   |  4 PagesErik Erikson Erik Erikson was born June 15, 1902. Erikson is best-known for his famous theory of psychosocial development and the concept of the identity crisis. His theories marked an important shift in thinking on personality; instead of focusing simply on early childhood event, his psychosocial theory looked at how social influences contribute to personality throughout the entire lifespan. Erik Erikson died May 12, 1994 due to prostate cancer. (Erik Erikson, 2015). Stages of Psychosocial DevelopmentRead MoreErik Erikson s Psychosocial Theory On Child Development1388 Words   |  6 PagesErik Erikson’s Psychosocial Theory on Child Development Erik Erikson, a well known developmental theorist, developed his theory about stages of human development from birth to death by using Freud s work as a starting point. According to Erikson, personality develops in a series of stages. Erikson found out that children experience conflicts which affect their development. He described the internal conflict which children go through in developmental stages using the term ‘crisis’ and are based onRead MoreErik Erikson : Psychosocial Development1103 Words   |  5 PagesErik Erikson: Psychosocial Stages of Development â€Å"Erik Erikson was best-known for his famous theory of psychosocial development and the concept of the identity crisis. His theories marked and important shift in thinking on personality; instead of focusing simply on early childhood events, his psychosocial theory looked at how social influences contribute to personality throughout the entire lifespan† (Cherry). This paper will discuss Erikson’s childhood and the influence it had on his work. AlsoRead MoreErik Erikson s Theory Of Psychosocial Development Essay1366 Words   |  6 PagesAbstract Erik Erikson (1902-1994) provided a new perspective of psychosocial behavior and development while expanding on the works of other theorists. Erikson believed there to be eight stages of psychosocial development which a person transitions through. These stages start at birth and end with old age/death. Erikson’s work is used throughout many outlets of social work. Social workers use this information to help them figure out what is going on with clients and how best to help them. Erikson providesRead MoreErik Erikson s Stages Of Development1608 Words   |  7 Pages The Psychosocial Development The View on Erik H. Erikson s Stages of Development Frank Phan Cosumnes River College Psychology 300 Abstract This paper will touch over the aspects of Erik H Erickson s eight stages and how they affect everyday lives from infancy to adulthood. The paper will go over the approximate ages and the psychosocial crisis that they will eventually come to. Neglecting a child can lead to a cause of mental negligence in the form of Arrested Development. Within differentRead MoreErikson s Psychosocial Theory And Psychosocial Development1561 Words   |  7 PagesTheories and Theorists Theories are the building blocks of psychology. Theories whether old or new has allowed us to know what we know now. There are many theories in the field of psychology or educational psychology that are important to further understand human behavior. However, this paper will focus on only two theories which are; Erikson’s psychosocial theory and Alfred Adler’s Adlerian theory. Erik Erikson’s psychosocial development has always been a great contribution to the field of psychologyRead MoreErik Erikson s Theory Of Psychosocial Development1445 Words   |  6 PagesErik Erikson was an ego psychologists who developed one of the utmost popular and prominent theories of development. While Erikson’s theory was influenced by psychoanalyst Sigmund Freud s work, Erikson s theory centered on psychosocial development rather than psychosexual development. Erik Erikson s theory of psychosocial development is one of the best-known theories of personality in psychology. Much like Sigmund Freud, Erikson believed that personality develops in a series of stages. UnlikeRead MoreThe Eight Crisis Stages Of Erik Erikson Development Theory1456 Words   |  6 PagesA theory is defined by an interrelated, coherent set of ideas that help to explain phenomena and facilitate predictions. With development the series of age-related changes that happen over the course of a life span which theorist observe these developments as a series of stages during which individuals displays qualities of behavior patterns. There are five theoretical orientation to development such as psychoanalytic, cognitive, behavioral and social cognitive, ethological, and ecological

Luotang Power Free Essays

string(45) " Loutang Power we get amount RMB 6,511,9669\." Table of Contents INTRODUCTION1 QUANTITATIVE VARIANCE ANALYSIS2 i. Quantity Variance5 ii. Price Variance6 iii. We will write a custom essay sample on Luotang Power or any similar topic only for you Order Now Fuel Efficiency Variance7 iv. Fuel Cost Variance8 v. Other Cost Variances9 5 PORTER FORCES†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 11 CONCLUSION12 INTRODUCTION Luotang Power was established by American companies who was selected bidders to operate a 600 MW coal-fired power plant project. This company was located in Hubei Province, China. Although this company wholly foreign-owned but they need to use Chinese- manufactured equipment. There are two main issues in this case study. The first issue is the positive performance of Luotang Power does not show in the financial results. Mr. Tan Min Yi was scheduled to make a presentation to the Board of Directors of his parent company, China Hua Tong Power about the results. Mr. Tan Min Yi is a general manager of the Luotang Power Company. He needs to review and investigate the financial results before presenting to the board the disappointing results. The second issue is about the quality of the coal provided by the supplier, Pingdingshan. Sometimes, the Pingdingshan will supply some of the coal with bad quality. They will send some of the coal contain high level of moisture. They need to take time to dry it and will cause additional costs to happen like storage cost. Mr. Tan wants to use a variance analysis method to better understand plant performance compared to the previous year. So, we will help Mr. Tan to solve this problem by calculating and prepare the recommendations to improve reporting and evaluation of the plant’s performance. QUANTITATIVE VARIANCE ANALYSIS As what have been introduced before, the Luotang Power CEO has to present the financial report to the board of director. But first he has to understand about the quantitative variance analysis. Variance Analysis is the analysis of performance by means of variances. This tool can be used to promote management action at the earliest possible stages. After a budget (based on standard costs) has been set, its usefulness lies in the review procedures which compare actual results against the budget. Variance analysis is the process of examining in detail each variance between actual and budgeted or standard costs to determine the reasons why budgeted results were not met. When the effect of variance is concerned, there are two types of variances. When the actual results are better than expected results given variance is described as favorable variance. In common use favorable variance is denoted by the letter (F). But when actual results are worse than expected results given variance is described as adverse variance, or unfavorable variance. In common it is denoted by the letter (U). There are very few plans that turn out exactly as planned. Even when the overall objectives of the plan are achieved, some, if not all components of the performance will have varied from the sub-plans or standards that make up the overall picture. So does the performance on the Luotang Power in 2011 which most of the variance is in unfavorable results. The variance analysis provides a framework for all business managers including Mr. Tan as one of Luotang Power directors to break down the overall performance of an organization, so that each individual element of the business can be isolated and analyzed in turn. The CEO facing problem with quantity variance, price variance, fuel efficiency variance, fuel cost variance and other cost variances. All these variance help him to explain about the plant performance throughout the year 2011 to the board of directors. Later, we will explain some of the variance that we have listed and all the problems related to â€Å"Luotang Power: Variance Explained† case study. This is the calculation of all variances. Variance | Calculation | Result| Quantity Variance| (3427351-3937377) x 0. 4219 = 215179. 97| Unfavorable| Price Variance| | Unfavorable | Fuel Efficiency Variance| [(346-347) x 0. 4219] x 3427351= 1445999387| Unfavorable| Fuel Cost Variance| (315612 – 320183)=5021| Unfavorable| Fixed Operating ; Maintainance Variance| (33178-39068)=5890(304090 – 348549)=44459| UnfavorableUnfavorable | i. Quantity Variance 3,427,351-3,937,377) x 0. 4219 = RM 215,179. 97 (UNFAVOURABLE) Based on the calculation above, we can see that amount of selling to HPPC had been declined in the year 2011 regarding HPPC produce electricity by itself. As we can see, Luotang Company never expects that demanding from HPPC will decline because looking at data, they make a bulk purchase on year 2010 and suddenl y on year 2011, have dropped in demand. Ratio of coal consumed to net electricity generation| 2010| 2011| 347,000 X 100 % = 8. 1 % 3,937,377| 346,000 X 100 % = 10. 09 % 3,427,351 | Based on calculation above, we can see that in the year 2010, Luotang very effectively usage their resources accordingly to generate electricity, but in the year 2011, Luotang lack of usage of resources to generate electricity. | Excessive usage of materials that is usually a reason of unfavorable direct material quantity variance may be due to lower quality of materials, untrained workers, poor supervision. Generally, production managers are responsible for this variance. However purchasing department may also be held responsible for purchasing materials of lower quality to economize on prices. Where Purchasing Department purchases low grade direct materials at low prices to show a favorable material price variance, the material quantity variance is usually unfavorable due to lower quality of direct materials. ii. Price Variance The definition of price variance is the difference between the actual and standard prices of one product unit multiplied by how much input was used. The formula is: Price Variance = (Actual Price – Standard Price) X Actual Quantity The price variance can be used by a business to assess the change between expected and actual input prices, since a positive price variance reflects an unfavorable cost rise, while a negative result indicates a favorable cost decrease. To adapt price variance to the type of business Luotang power it’s based upon the average price that electricity was sold to HPPC. The formula is: (Price per MWh in Current Year-Price per MWh in Prior Year) * Net Generation in Current Year From our calculation in price variance for Loutang Power we get amount RMB 6,511,9669. You read "Luotang Power" in category "Essay examples" Since the amount is positive, that’s mean it unfavorable. Unfavorable show that Loutang Power unefficiency in managing its price and cost. We can see that demand from clients in 2010 is higher than others years because in 2010 the price is lowest. In 2009 is the highest price than its effect the demands. General Manager increases a little bit price in 2011, so the demand is decreased dramatically. This may also be caused by HPPC had its own electricity generating and produce themselves the electricity. Price is influence of the increase of cost, especially direct material cost. Luotang power must change the term of contract with the supplier. Origin contract is Luotang Power paid a fixed price per tonne. If staying with fixed price, the company must pay it although the coal quality has not reached the expected quality. Luotang Power purchase it with a large number, it’s a high risk because the supplier inconsistent provides the quality coal. So Luotang must buy the coal with a condition that if the coal is not meet the qualifications, it must be returned back to the supplier. Luotang Power must set the fix benchmark for the coal, so the supplier must follow it. If not Luotang Power doesn’t have to pay it, just return it. It saves the cost. So Luotang can set the price lower. iii. Fuel Efficiency Variance The meaning of fuel efficiency variance in this case study is the difference between the current year of the quantity of coal used to generate each MWh of electricity sold and the prior year of the quantity of coal used to generate each MWh of electricity sold. This is calculation how to find the fuel efficiency variance: (Mass of coal used per net MWh sold this year- Mass of coal used per net MWh sold last year) x MWh sold this year’s x price of coal last year From our calculation, for 2011, the fuel efficiency variance is –RMB 1,445,999,387. This show that this variance is unfavorable because the result in negative. We found several reasons that cause this to happen. The first reason is from an electricity demand from the HPPC is decreasing in 2011. This due to the HPPC have its own electricity generating units. The HPPC can produce the same electricity as the Luotang electricity. The second reason is because of the price that Luotang Power offer to HPPC. If you see in 2010, the price that the Luotang offer is cheaper than 2011. Because of the increasing of electric price in 2011, the amount of electricity sold is decreasing. The other reason maybe for the quality of coal provided by Pingdingshan. Pingdingshan was required to supply low sulfur bituminous coal. If the Pingdingshan provides low quality of coal to the Luotang, the coal that can be used to produce electricity will decrease then, the production of electricity will be reduced. There is some recommendation that we will give to Mr. Tan to overcome this problem. We recommend that Luotang revenue does not just depend on the HPPC only. Mr. Tan needs to find other clients. Even it will cost to Luotang but it is will give advantage to Luotang’s long- term performance. The second recommendation is Luotang needs to lower the price of electricity if the company wants the HPPC buy more electricity from them. The last one is, the Luotang need too strict with the Pingdingshan regarding to the direct material, coal. If the Pingdingshan provides them with a low quality of the coal, the Luotang needs to tell them or not to pay the expenses. The Luotang cannot let this happen. Although they can adjust the price but actually it will make the Luotang suffered loss in controlling their direct materials because they need to bear other cost in order to adjust back the quality of coal like the storage expenses. iv. Fuel Cost Variance In cost accounting, deviation between the actual cost and the standard cost. If the actual cost exceeds the standard cost, an unfavorable variance exists. A variance can be calculated for different cost items such as manufacturing costs (i. e. , direct material, direct labor, and overhead), selling expenses, and administrative expenses. The reasons for a variance should be identified and corrective action taken. Favorable variance can be defined as a difference between an actual cost and a budgeted or standard cost, and the actual cost is the lesser amount. In the case of revenues, a favorable variance occurs when the actual revenues are greater than the budgeted or standard revenues. And unfavorable variance can be defined as the amount by which actual costs exceed the standard costs or budgeted costs. Also, the amount by which actual revenues are less than the budgeted revenues. After all of us do the analysis, we have found that this company having major problems in fuel cost, the fuel that Luotang receive from the Pingdingshan for this year have a low quality to compare from the last year. This has affected the production of the company. So that it brought the company a major problem that are decreasing purchase from HPPC. Analysis variance has shown that the fuel cost variance it just unfavorable. We have used the original formula, that are, Cost Variance = (cost this year-cost last year) x actual quantity this year. But we have modified the formula to calculate with Fuel Cost Variance = (price of coal this year-price of coal last year) x Mass of used per net MWh sold this year x MWh sold this year. So that we have found that Luotang have unfavorable variance. The cost is increased from the standard cost because the coal that receive from the Pingdingshan have a problem with its quality so that its take time to plant to generate or burn the coal. So that, its increase the cost with a lower quantity of production. From the analysis, we recommend Luatong should do fuel diversification. Fuel diversification implies the selection of a mix of electric generation technologies in a fashion that strikes a good balance between reduced cost and reduced risk. A long-term perspective as well as a short-term perspective can be taken on the fuel diversification problem. In a short-term perspective, the decision maker is limited to selecting power sources from existing alternatives. The construction of new generation plants and the associated fixed costs are justifiably ignored. The short-term problem translates in most instances to a scheduling problem. On the other hand the long-term perspective on fuel diversity seeks insights that can help decision-making involved in the selection of new power plants. The long-term problem can be thought of as a resource- planning problem. Our focus is on the long-term perspective. Long-term fuel diversity has recently gained the attention of state regulators and federal policy makers. It has been argued that fuel diversity has the potential to advance several socially desirable objectives such as lower long-term prices, low price risk, less dependent on foreign sources of energy, higher power reliability and a cleaner environment. . Other Cost Variances The variance that related in this area are Coal Cost, Fixed Operating and Maintenance Cost, and Depreciation Expense. This is because in this case, only these three costs that have the useful information that help us to make an analysis of variance. Allocated cash costs are a type of expense that is clearly associated with and so can be readily a ssigned to a certain business process, project or department. Allocated costs can be divided into two which allocate cash costs and allocated non-cash costs. Allocated cash costs are most probably things related to cash items. In this case it can be implemented in fixed operating and maintenance while allocating non-cash costs example is depreciation expense. The formula to calculate these two types of allocated cost is: Allocated Cash @ Non-Cash Costs = (Cost of volume allocated based on the quantity used – Actual costs) Related to the Allocated Cash Costs, in this case, we can simply use the formula: Allocated Cash Costs = (Standard Cost for Fixed Operating and Maintenance 2011 – Actual Fixed Operating and Maintenance 2011) From our calculation, the standard cost is lower if compared with the actual coal cost in 2011. From the table, it shows that – 5890 or can be denoted by 5890 U. Which shows unfavorable result. The main factor that contributes to increase of actual result is unmanageable plant management. This is including engineering, planning, accounting and cost of railway fee. While in Luotang Power, they only have depreciation expense that have a relation of Allocated Non-Cash Cost, we can simply use the formula: Allocated Non-Cash Costs = (Standard Cost for Depreciation Expense 2011 – Actual Depreciation Expense 2011) From our calculation, the standard cost is lower if compared with the actual coal cost in 2011. From the table, it shows that – 44459 or can be denoted by 44459 U. Which shows unfavorable result. The main cause that contributes to increase of actual result is the standard cost of depreciation that have been planned is unachievable. In the previous two years, they recorded RMB 350320 in 2009 and RMB 349342 in 2010. The issue arises is why Loutang Power finance department decreases the standard cost significantly and unachievable. Our suggestion towards this company to minimize their unfavorable results is manage their plant in a very successful way and perhaps can decrease the unachievable amount of the fixed cost. Firstly, Luotang Power can minimize their cost of handling the management of their plant in a very strategic way. They have to manage the railway line regarding its fees, manage coal by maximizing the utilities of storage area, manage its boilers with a full efficiency of boiling point and so much more related to the site layout for 2x300MW Luotang Power Project. Next, they must take into consideration on achievable amount of the standard cost. It is essential to all standard cost setter to discuss among all of the directors and subordinates first before setting up the most accurate standard cost that can be used as a benchmark for a company. Porter Forces 1) Efficiency Based on data, we can see that Luotang Company doesn’t have efficiency in producing electricity because cost for fixed expenses in the year 2011 are increasing. They have made by their own estimated or standard cost on year 2011 but when comes to producing the actual cost incurred more than standard cost. This is showing that they fail to manage their production either capability of the machine or weakness of management itself. 2) Bargain of buyer Regarding to theory 5 Porter Forces, their purchaser has power of deciding the price. When we looking at the information, Luotang depend more on HPPC as a buyer. So this made difficulties to Luotang to decide their own price although they have an efficiency in production. 3) Bargain of supplier As we know, supplier as the important agent to determine whether our company successful or not, because we rely on their capabilities to supply us with quality raw materials and reasonable price, also willing to provide us when we need. In this case, Luotang depend on Pingdingshan and recently reported that coal quality had deteriorated about 3 % from the expected quality. CONCLUSION Luotang Power Company is an international power developers to finance, design, construct and operate coal-fired power plant. However due to the nature of our business, we have a big problem about our supplier that have gotten changed on 2011. The supplier has supplied low quality coal to Luotang and that disturbs the progress of the production. That has caused decreases demand from a loyal customer. And its affect the financial situation of the company. Besides that, several recommendations should be taken to ensure a successful implementation of the system in our company. First of all, purchasing department may also be held responsible for purchasing materials that can define the quality of the material. Besides that, Luotang also change the term of contract with the supplier, need to find other clients not to depend to HPPC, Luotang also should do fuel diversification to make sure there are several suppliers, and Luotang can minimize their cost of handling the management of their plant in a very strategic way so that they can improve their management well. In addition, what we have found by concept 5 Forces in this company that their faces during their production. There are ; Luotang not have efficiency in producing electricity because cost for fixed expenses in the year 2011 are increasing. Besides that, bargain of buyer that show their purchaser have power in deciding the price. And lastly, bargain of supplier that show there is a supplier that supply the raw material to Luotang. As a conclusion in overall, we can see that Luotang Power Company has a good performance in their production but it have decreased in year 2011 because there are several problems that unexpected, that come from the supplier and others. So that, Luotang should do in several ways to overcome the problem and prove it to the Boar of Directors. How to cite Luotang Power, Essay examples

Thump!Thump! There was a loud noise at the door, Essay Example For Students

Thump!Thump! There was a loud noise at the door, Essay Alright hold on,Im coming. Tim yelled. Tim was in his early twenties, he had a bluemowhawk, always dressed shabby, and addicted to heroin. Tim walked tothe door and opened it, Yes. he said sarcastically. The man at the door asked if Gwen was home, Are you Gwens newboyfriend Tim asked him. Yes I am, my name is Tony he replied. Nice tomeet you Tim said. No, Gwen is not here right now. I think she is stilltrying to get the job at that bar on 6th street Tim replied. Oh, well tell her that I came by and just to give me a call, OK? Tony said. One problem Tim said. Oh, and whats that? Tony replied. Didnt Gwentell you? Tim said we dont have a phone, or a T.V or any otherappliances, we are gutterpunks. Why do you think we live in this shed?Well I guess I will just come back later Tony said with a strange look on hisface. We will write a custom essay on Thump!Thump! There was a loud noise at the door, specifically for you for only $16.38 $13.9/page Order now Tim! Wakeup! Gwen yelled. Huh? Tim replied. Wakeup!, sheyelled back. Oh, OK Tim yelled back. That boy, Tony came by, lookingfor you, he thought we had a phone. Tim said chuckling. You didnt tellhim that we dont have a phone or the other stuff did you?! Gwen yelled. Um, well kinda yeah, why? Tim questioned. Why? she yelled andstormed off. Gwen was the type of girl who didnt care what people thought of her, butshe didnt like it when people would find out that she was poor. She hadblonde hair, and was very thin. She wore sequined pants, and these funnylooking shirts most of the time, unless she went out. Gwen?, Mike, and Shirley are home. Look Im sorry I told Tony. Timsaid. Send Shirley in. Gwen yelled back. Shirley, Gwen wants you. Timsaid. Ill be right in she yelled back. Shirley was an Irish girl whoseparents had both died, and she was sent to America to live with her aunt,she ran away and met Mike. Shirley had red hair, and was also a weirddresser, she had a job at a library filing books. The pay was bad but shewould accept anything, that would keep them alive. Im outside Gwen, come on out and we will talk. Shirley yelled intothe shed. Whats wrong with her? Mike asked. Tim told her new boyfreindwe were poor, Shirley replied. So, whats wrong with being poor? Mikeasked, We have a place to sleep and were happy. Yeah, but you knowhow Gwen is about these things. Shirley said. Yeah, I guess, Mikereplied. Mike had brown hair, worked in a music store that paid him almost nothing. He plays the guitar really well, and has tried out to be in local bands so hecould earn money but hadnt been lucky. He is the only one of the group thatknew about Tims heroin problem. Gwen walked out of the shack and apologized to Tim for storming off,and told Shirley that she was OK, and didnt need to talk anymore. So, Tim, when are you gonna go look for a job? Mike asked. Ugh..me work!? Tim replied sarcastically. Yes you. Mike said. I willstart first thing tomorrow, looking for one, I promise. Tim said. Well I dont know about you guys but Im going for a walk.Tim said. Bye they all said. Maybe I should go with him, Mike thought to himself. Ill be back in a minute, Mike told the girls. He ran to catch up with Tim,Tim! he yelled Wait up!What do you want? Tim asked. Do you haveany heroin with you? Mike asked Oh, so you know Im hooked? Timquestioned. No! I am just making sure you dont, so you wont messyourself up. Mike said Mike, just leave me alone, I dont need you tellingme what to do! Tim yelled at Mike. Fine but dont think about coming backto the house unless you quit right now! Mike yelled back. Fine then, tellgwen and shirley that it was nice knowing them. Tim said. .u5a7dea5b02cb5e95105ec90fb81e4b4c , .u5a7dea5b02cb5e95105ec90fb81e4b4c .postImageUrl , .u5a7dea5b02cb5e95105ec90fb81e4b4c .centered-text-area { min-height: 80px; position: relative; } .u5a7dea5b02cb5e95105ec90fb81e4b4c , .u5a7dea5b02cb5e95105ec90fb81e4b4c:hover , .u5a7dea5b02cb5e95105ec90fb81e4b4c:visited , .u5a7dea5b02cb5e95105ec90fb81e4b4c:active { border:0!important; } .u5a7dea5b02cb5e95105ec90fb81e4b4c .clearfix:after { content: ""; display: table; clear: both; } .u5a7dea5b02cb5e95105ec90fb81e4b4c { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u5a7dea5b02cb5e95105ec90fb81e4b4c:active , .u5a7dea5b02cb5e95105ec90fb81e4b4c:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u5a7dea5b02cb5e95105ec90fb81e4b4c .centered-text-area { width: 100%; position: relative ; } .u5a7dea5b02cb5e95105ec90fb81e4b4c .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u5a7dea5b02cb5e95105ec90fb81e4b4c .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u5a7dea5b02cb5e95105ec90fb81e4b4c .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u5a7dea5b02cb5e95105ec90fb81e4b4c:hover .ctaButton { background-color: #34495E!important; } .u5a7dea5b02cb5e95105ec90fb81e4b4c .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u5a7dea5b02cb5e95105ec90fb81e4b4c .u5a7dea5b02cb5e95105ec90fb81e4b4c-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u5a7dea5b02cb5e95105ec90fb81e4b4c:after { content: ""; display: block; clear: both; } READ: Vegan EssayI wonder where they are? Gwen said. I am sure they will be homesoon. Shirley said. Clang! The door of the shed opened, Mike walked in butno Tim, he explained the whole thing to them about Tim being addicted