Healthcare Organization Essay Example for Free

Healthcare Organization Essay Healthcare organizations are now stepping up their strategies in improving their programs and systems. Business and marketing are collaborated to boost resources which are expected to serve as a benefit to their clients. Considering the fact that HCOs consist of social factors and societal influences, it is vital for healthcare practitioners and most importantly the management to build a stronger foundation and forecast plan for their courses of action. The advent of technology and the tight competition in the market may apparently positively of negatively impact HCOs. Hence, given the appropriate concepts and strategies armed with proper implementation of designed concepts, any HCO is most likely to survive (Longman, 2005). Simple concepts and theories of marketing and organizational behavior will help HCOs in circumstances like risk management, conflicts, human resources and other forms of the like. Analysis Communication is one of the most important fields in any organization. Given the fact that an organization is composed of individuals with varied characteristics and personalities, it is vital for these beings to have a common channel that will serve as a bridge in closing deals and team participations. Technology is perhaps the focal element in creating a robust and efficient means for communication (Mascarenhas, 1995). HCO may take advantage of this communication-related improvement by acquiring the most updated and most effective tools in running the organization. The most recent sparks of idea which proved to be of great help to healthcare practitioners are e-Prescription and e-Documentation. It paved a way for HCO to make their services become more available not only to clients within their vicinity but globally. Through the help of the internet, they are able to endorse their products and their services with just a click away. E-Documentation has helped every HCO evidently because it helped in the documentation of patient records and made these files available in a secure database which enabled patients to track their health-related records hassle-free. These developments in communication have even made HCOs all over the world collaborate and communicate efficiently and more rapidly. Earning them the all the time that they need to conduct business. As for the case of the Veterans Health Administration, the entity is fortunate enough to receive help from the state. Even though the benefits that the latter receives continue to be criticized, their organizational, planning and marketing strategy proves to be surfacing in high grounds. They see to it that their programs are not only available and accessible to a popular few but for those who are qualified for their services. Thus, they would need a little improvement with regard to how they generate resources for their facilities. Especially since they are dealing with a continuum of patients that will grow each year, they should employ updated amenities and hear the concerns of their clients. They should make their managerial actions transparent to the public and employ activities that will drive investors to donate for their cause. Conclusions and further remarks Having technology commence in a swift sense is an opportunity for healthcare organizations to make the most out of their capacities.  Citing the problem on VHA, they lack in communication efficiency which in essence should be improved so as to keep their clients’ trust on their ability in healthcare. Healthcare organizations even so need to integrate organizational strategies especially since they are deal with the society (Karlawish, Fox, Pearlman, 2002). Financial stability is also important which is why they should learn how to implement economy-inclined policies and strategies for their philanthropically tending organization.

Understanding The Growth Theory By Solow Economics Essay

Understanding The Growth Theory By Solow Economics Essay Robert Solow was born of a Jewish family on August 23, 1924 in Brooklyn. Fortunate with the opportunity to attend public schools, he had a strong academic foundation along with with motivation and mentoring he was awarded a scholarship to attend Harvard University in 1940. During his freshman year at Harvard he chose sociology and anthropology as his majors with a minor in elementary economics. At the end of 1945 Robert Solow decided to serve in the US army and later returned to Harvard in 1945. The depression at the time strongly influenced him to study the way the economy actually worked and after returning from the army he decided to switch gears and studied economics. At Harvard he was an assistant to Wassily Leontief producing the first set of capital coefficient for the output and input model sparking his interest in statistics and probability models which lead him to Columbia University for a concentration in statistics. About the same time he was also offered a position to lecture economics and statistics at Massachusetts Institute of Technology (MIT) which he accepted and overtime his fascination leaned more with macro economics. For 40 years Solow worked closely with Paul Samuelson and together they developed numerous work together such as: Balanced Growth under Constant Returns to Scale, (1953), Theory of Capital (1956) and A Complete Capital Model Involving Heterogeneous Capital Goods. In 1961, Robert Solow won the John Bates Clark Award which is given to someone under 40 years who have made a major contribution to economic thought and knowledge. His continued efforts and passion for macro economics resulted to him winning the Nobel Prize in 1987 for his analysis in economic growth. Over the years Solow has continued to be a prominent figure as an economist, his theory is thought all over the world from government to his theory thought in schools. The study of the factors which permit production growth and increased welfare has been a central feature in economic research for many years. Robert M. Solows prize recognizes his exceptional contributions in this area. This paper will discuss the major contributions Robert Solow made to economics in an A Contribution to the Theory of Economic Growth (1956), the influences for his analysis and its relevance in understanding how the economy works. Understanding the Solow growth theory is a challenge due to the number of models that he incorporates to explain growth theory. The basic model focuses on the accumulation of capital after which Solow incorporates new factors such as population growth and technology in order to show the changed result in comparison to the basic model. To aid in development of his Growth Theory, Robert Solow addressed the specifics concerning the growth of an advance industrial economy, this was first developed by Nicholas Kaldor. Kaldor has six characteristics for the economy, four of which Solow focused mainly to development the Solow model. Real output grows at a constant rate. Capital Stock grows at a constant rate Real growth and capital stock are likely to be the same Profit rates show a horizontal trend with the exception of changes in effective demand. The first three characteristics describe when an economy is in the steady state. To expand on this definition the steady state as described by Robert Solow is constant growth and capital stock. In an article, A Contribution to the theory of economic growth (1956) Solow growth model represented an addition to the Harod- Domar Model which explained growth patterns in terms of savings and capital. The main differentiation between his model and the Harrod-Domar model lay in Solows assumption that wages could adjust to keep labor fully employed. The Solow Model is neo-classical and as a results focuses primarily on the supply side. This implies that as long the supply of a good increases then economic growth can be accomplished. In this aspect it differs from the Keynesian models which focus on the demand side of the economy in areas such as: unemployment and inflation. The supply side In Solows model follows the following assumptions: One good in production with no change in technology and two factors of production, capital (K) and labor (L) deriving the following equation Y =F (K, L). The demand side for the Solow model assumes that output demand is equal to consumption and therefore there is no disposable income in the economy. Y= C + S Thus far the model describes a stagnant economy and Solow introduces dynamic factors in the model to show capital accumulation which are investment which increases the capital stock and depreciation which decreases capital stock. The saving rate in this model represents the tradeoff between consumption and investment. This means, what is not consumed is saved in the economy; this therefore increases capital stock growth or capital accumulation in the economy. In the active economy in the Solow model the production changes and is represented by the equation Y=F (K, S, à ¢Ã‹â€ Ã¢â‚¬Å¡, k0) meaning output is a function of capital, savings, depreciation and capital stock. By utilizing the capital stock increases output in different periods but at some point the economy comes to a steady state as described by the Solow Model. The steady state is accomplished when output and capital are in equilibrium. It also implies that the economy will cease to grow so there is no change in capital at that point. Furthermore an economy in a positive steady state does not move from that point therefore this can also be considered as the equilibrium point The variables listed above can be divided into two variables exogenous which comprises of savings depreciation and capital stock and endogenous which are capital, income and investments. The model shows that increased savings shifts increases investments which impacts the steady rate causing it to shift also. This activity illustrates that higher savings in an economy means that there is higher capital stock thus leading to higher steady state per worker. Therefore in the economy one need to know that is the optimum level of savings is necessary to get to maximize steady state which is known was the golden rule. To recap, the steady state can be referred to as long run equilibrium in the economy and savings is critical in the model because it shows that by increasing savings the steady state can shift upward which asserts higher level of capital stock per worker. The concept of golden rule was also incorporated in the Solows Growth Theory but prior to that the golden rule was a concept by Jon von Neumann and later in the work of Edmund Phelps. In Solows Growth Theory, he makes the assumption that policy makers will consequently determine a savings rate that will maximize consumption per worker referring to it as the golden level of capital accumulation. Robert Solow did not stop here with his theory he went on further to introduce population growth in his dynamic model which also means that the labor force is growing as well. What Solow is illustrating is the effect of this exogenous factor on the population. Therefore the capital stock will be divided thinly across the increasing population. Since this increase in population is decreasing the capital stock this indicates there is a negative effect on income per worker. Solow then adds technology to the model, technology as described by Solow can improve efficiency of production and this means that there is an increase in output ultimately leading to the sustained growth in the economy. At this stage in the model, Solow uses a new production function to describe the economy Y=F (K, L, E, à ¢Ã¢â‚¬Å¡Ã‚ ¬) this means that output is a function of capital, labor, efficiency and effective worker for this economy. Solow goes on to describe what is meant by an efficient worker and this is characterized by knowledge, familiarity and ability. Output can consequently increase by the efficiency levels of workers. Efficiency in this model per effective worker can move the steady state equilibrium where capital stock per worker constant. As a result, with technological progress in this model the capital stock per worker is growing at the technology rate even in the steady state due to efficiency in the economy. We can see that even if capital is not growing in the steady state capital per effective worker is at the rate of technology. In addition, this also asserts that output per worker is also growing at a rate of technology. Combined, total output and capital stock are both growing when the two variables population and technology are present. The Solow Model therefore shows that technological progress in the economy explains sustained economic growth in the context of living standards per worker.

The Impact Of Climate Change On Cambodia

The Impact Of Climate Change On Cambodia Cambodia is one of the countries on the mainland of Southeast Asia. Cambodia is 181,035 square kilometer in total area, and the total number of population is nearly 14 million in 2008. Cambodia shares the border with the three countries in Asia such as Thailand, Lao Peoples Democratic Republic, and Socialist of Vietnam and about 6400 kilometer in total border. Actually, 80 percent of the total populations are farmers. They grow crops, especially rice paddy, for daily use in the families and sale the surplus products to the market places to earn money for the future needs. Besides the doing agriculture, people are usually work for other people either in the rural or in the urban to make money for the families. These kinds of jobs are commonly about building, garment sectors, electricians and so on. In addition, Cambodia is one of the countries has the tropical monsoon in the region in which classify the climate in Cambodia into two different seasons respectively, the dry season and the rainy or wet season. Actually, the dry season in Cambodia commonly starts from the month of November to the month of April; and the rainy or wet season start from the month of May until the month of October, to which provide easy going for Cambodian people in doing agriculture. In fact, they can do the agriculture more than one per year. However, since there was a change in climate, most of fields in Cambodia were not usable for growing such a crop, rice paddy. Actually, in order to make it easier, we should firstly understand what the term of climate change is. The answer is that climate change is one of the most concerning global issues that have severe impacts on human securities. It is truly a long term change of climate in a specific areal or locations or we can say that climate change is the increasing of temperature on the earth that we commonly cannot see through our naked eyes. Obviously, such a dangerous issue, global warming, is not take place incidentally. There are always the factors that encourage or facilitate it to take place. In order to make this topic easier, I would raise two major factors that cause to the changing of climate; those factors are the humans activities and from the natural activities. First of all, all humans activities always affect to the environment either on the large scale or in the small scale. For example, greenhouses gases are the major actor that cause to the to the change climate. What is a greenhouse gas? Greenhouse gas is gas that happened by the construction of greenhouse. Actually, the people who are living in the cold areas have not access to grow crops and vegetable as usual. Therefore, the constructions of greenhouses are inevitable for them. Scientifically, the greenhouses are built to trap the suns heat for growing crops. Obviously, not all the heat that trapped by the greenhouse returns to the atmosphere. Therefore, it keeps warm in the houses, and it is usable for growing crops. However, these kinds of heat will lead to change of climate or called global warming. Another factor that humans activities cause to the change of climate is the wealthy of the people. Actually, when people become wealthier, they would change their behavior of consumpt ion of goods or services to the new products to facilitate their daily living standard. For a real example, in order to make lives more comfortable, people use modern equipment such as refrigerators, air conditioners, and cool agents, and so on. Actually, these kinds of equipment are the main factors that exploit to the environment because of the chemical substances inside are dangerous to the environment that we usually called chlorofluorocarbons (CFCs). It is actually the main substance that exploits the ozone layer. What is ozone layer? Scientifically, the ozone layer is layer that can be found in the atmosphere about 30 kilometers above the earth surface. It plays a very crucial role in keeping the earth not so hot, for most of Ultra Violet (UV) is absorbed by the ozone layer. Therefore, the temperature on the earth surface will be cool. In contrast, what will happen if the ozone layer is exploited? Scientifically, when ozone layer is lost, the large amount of Ultraviolet will g o directly to the earth. Therefore, the temperature will be increasing on the earth. Another factor that people do affect to the climate change is through the cutting a large amount of the tree or we call deforestation. As we can see that, forest is the main actor and plays a very significant role in keeping temperature on earth cool. Actually, most of the carbon dioxide (CO2), a main actor in increasing the temperature, is usually absorbed by the trees, and the trees convert such a bad substance to Oxygen (O2) to which useful for human beings. Moreover, forest also plays a very important role in balancing the number of carbon dioxide. However what will happen when a large about of the forest is cut down? Actually, when the number of population increases, their demands for daily lives also increase. Therefore, they have to cut down the forest for building house, to make land usable for growing crops. Scientifically, when the trees were cut or burned down, the carbon dioxide will immediately go back to the atmosphere. Obviously, Carbon dioxide is the main actor that h elps accelerate the processing of trapping the suns heat. When there is a large amount of carbon dioxide in the atmosphere, the temperature will be hotter and hotter. The second major factor that cause to the climate change is through the natural activities. First of all, I would raise the case of forest fire. Forest fire sometimes happen when the temperature in the forest is hot or when there is lightning. Scientifically, Carbon dioxide is easily backed to the atmosphere when there is getting involved with the fire. Obviously, forest fire may take long time, so the number of Carbon dioxide that releases to the atmosphere will be larger. Therefore, the temperature on the earth will gradually increase. Another factor that cause to the climate change is the eruption of volcanoes. When there is eruption, the environment in the region will be polluted. In fact, the smoke from the eruption consists of toxic substances that affects to the environment such as gases, carbon dioxide, and sulphur oxide and aerosol. Most interestingly, climate change has severe impact on human being around the world, especially for the people living in the developing countries. Obviously, for most the developing countries like Cambodia is not a main factor that cause to the climate change. However, Cambodia is still affected by the changing of climate on the same level as the main contributors. Specifically, Cambodian people are facing some problems under climate change. First of all, people in some provinces in Cambodia have no access to grow crops, especially rice paddy. There are drought and flood in the provinces to which delay people from growing crops. For example, Kampong Speu is one of the provinces in Cambodia that experienced in drought. People find it hard in growing any kind of crops because of the drought. It was difficult to plough the field because the soil is too dry. At the same time, the land became unusable, infertile, for crops to grow. Therefore, a large number of people immigrated to the city to look for jobs. Some people immigrated to the third countries such as Thailand, Malaysia, and currently Korea to earn for the families that are waiting for their money. Another example that affected by the climate change is that for some provinces such as Prey Veng and Kampong Cham experienced in flooding. In fact, people in these two provinces usually do the agriculture during the rainy season, in September of the year. Because there was flood in the rice field for long time, people late in practicing in agriculture. Therefore, they have to wait until water become lower. Obviously, the late of doing agriculture may cause many problems for the farmers such as there is not enough water for the rice to grow, there are pests that eat and exploit the rice stalk and the field becomes infertile. As a result, many people immigrated from the provinces to work in the city. Actually, when large numbers of people keep going to the city, it would make the city unstable and difficult for the government to take control. Similarly, climate change also affected to the human security in Cambodia for a few consequences. First, most Cambodian people, especially to the young people under the age of five, are affected by the diseases. Obviously, most of Cambodian people, especially the people who are living in the rural areas, are depending on the water from the nature sources such as rivers, lakes, ponds, and stream and so on. When there is a changing in climate, it causes the quality water in those sources become shallow the water become more polluted. When people took the water to use for cooking, drinking, and washing, they were affected by this factor, especially for the young people, because they had a weak anti-bacterial system in their bodies. Moreover, one of the most serious diseases that have severe impact on the young people was diarrhea. Statistically from the Ministry of Health of Cambodia, around 12,500 Cambodian people die per year. Because of the bad impact of the climate change in Cambodia, both state and non-state actors have found out new strategies and solutions in reducing the serious effects of the climate change. First, non-state actors are playing a very crucial role in fighting against the climate change. Actually, there are a few strategies that non-state actor such as NGOs practicing to reduce the climate changes effects. Initially, NGOs are trying to promote education system for the poor people who are living in the rural areas in Cambodia. They believe that educational system is key role that help people escape from the poverty. When people become literate, they will stop cutting down the forest. They will change their perception of cutting down forest and think about important factors of forest for lives for lives to live harmoniously, for it helps reducing the effects of climate change. At the same time, they may look for other jobs that can also make money for their families such as ecotourism. Another strategy that NGOs in Cambodia help reducing the effects of climate change, they promote reforestation for people living in the rural areas. Actually, if people want to cut down a tree, they have to grow another to for the future use. When the people keeping practicing this strategy, there will be a stability of forest in Cambodia and climate change will gradually be reduced. Similarly, Royal Government of Cambodia is trying very hard in looking for the solution that can deal with the effect of climate change on Cambodia citizens. First thing that the government of Cambodia uses to reduce the effects of climate change is conservation of forest. They try to keep the amount of forest cover to about 60 percent by promoting on both private and public institutions to reforestation. It is one of the affective ways to cope with the expansion of the climate change. Second, the government keeps their eyes on community forestry. Obviously, community forestry helps preventing from any kind of illegal deforestation and land enlargement activities. Finally, in order to make the awareness of Cambodian people, especially for younger generation, the government of Cambodia has inserted the subject of climate change to the formal study subjects. The government wants people to be aware of the climate change and what are the strategies that help protect the environment. In conclusion, climate change totally affected to everyone one round the world. Although a country such as Cambodia was not the main contributor to the climate change, the effects of climate change still affected on Cambodia on the level as the main contributor once. The climate change causes the rice fields in Cambodia became infertile and did not usable for growing rice. Also, a large number of people moved from the rural areas into the city to look for any job to support their families. Moreover, diseases were taken place under the effects of climate change. However, climate change was immediately responded by the two actors, state and non-state actors, NGOs. Both played very important role in reducing the effects of climate change respectively. Finally, if these two main actors standstill on their commitment, I optimistically believe that the word climate change will gradually be eliminated and the environment will be as normal as the ancient time before there was getting involve by word climate change.

Kyrgyzstan :: essays research papers

The collapse of the Soviet Union created 15 new states. These states over the last 5 years have all struggled with economic, ethnic, political and territorial problems left to them by the Soviet empire. Kyrgyzstan, is a former Soviet Republic (FSR) located in the Central Asia. This paper will give a statistical representation of the state, Kyrgyzstan. The statistical data will reflect the basic geography of the subject country containing population, size and location. This miniature report will also contain brief descriptions of current political and economic situations. Included in the current information section of this report, is an outlook for possible near future events concerning both political stability and economy. Kyrgyzstan is located in the southern area of the former Soviet Union. Its boarders are defined by China to the east (& South), Kazakhstan to the north (& Northwest), Uzbekistan directly west and Tajikistan to the south (& Southwest). Kyrgyzstan features 76,641 square miles of land, which consisted of .9% of the former USSR's land-mass. The land is primarily used for pastoral purposes. Only 7% of the farmable land is cultivated. The population is approximated to be 4,258,000 people (see Figure A). The Kyrgyzstan populace has experienced a 25.3% growth in population during the last 12 years (Population Growth Data from 1979-1991), and a birthrate at 29.1/1000. Population distribution is 61.9% in rural areas and 38.1% in urban centers. City & Population The top 4 cities are: Bishkek (formally Frunze) 616,000 (Capitol) Osh 213,000 Przhevalsk 64,000 Naryn 26,000 In June of 1990 ethnic violence arose in the city of Oh. Kyrgyz clashed with Uzbeks resulting in a bloody conflict which was eventually suppressed by Soviet Interior Ministry troops. This clash outlined political and economic problems present in Kyrgyzstan even when the USSR was still existent. These ethnic clashes in Oh served to cement political groups who were organizing outside of the communist party during Perestroika. It also gave voice to the large economic problems in central Kyrgyzstan. The "head of state" and leader of the communist party in Kyrgyzstan was Absamat Masaliev. Masaliev invoked policies which were rigid and served to enhance the existing social problems. Because of the decline present in the government's abilities to meet the expectations of the populace, the allowances granted by the Perestroika police and ethnic tensions, communist authority in Kyrgyzstan was challenged. The communist party's rule came to an end in October of that same year.

Replacement Advertising on the Web - Is it Legally and Ethically Essay

Replacement Advertising on the Web - Is it Legally and Ethically Acceptable? Summary ======= This report discusses the legality and ethics of a new piece of software launched in February 2001, which allows ISP's to overlay advertising banners on any web page on the net with adverts sold by, and controlled by them. Investigations led to discussions about Copyright infringement and European Competition Law. Many examples of Case Law were also investigated for their possible links with issues arising from the use of this software. Introduction ============ This report is being written to try to understand the issues raised, both legally and ethically, by the release of a new piece of software (Fotino) onto the Internet market. In an attempt to answer whether this software is an acceptable addition to the world of the web, only replacement advertising as facilitated by Fotino software will be considered. This is due to the fact that since my investigations into this subject began other software packages have come to light, which may be able to perform this function in a slightly different way. The problem posed by this software has required investigations from both a practical and theoretical standpoint, in that in practice the software has not yet been adopted by any of the Internet Service Providers (ISP's) and so cannot be fully investigated along this route, yet from investigation I have been able to see the software in action from it's marketing campaign. From a theoretical point of view I have investigated existing laws and cases that I think may be used in the future, either for or against the use of this software, should any of the legal and ethical issues raised be fought in a court of law. This report is being written for anyone who may have an interest in developing technologies and how they affect both the technological world and society as a whole, ethically and legally. This report will raise issues about the catch-up situation of the legal system and the fast developing world of the internet. Due to the speed at which the world of computers develops I do not feel that this report will provide answers to the problem, but will merely provoke discussion and thought about many issues. The Managing Director of Meltingpoint Technologies - the company who developed the Fotino software, has requested a c... ...opean Community Law. London: Blackstone Press Ltd. pp 250-267. Web Sites --------- Hunt, J, 2001. Guardian Unlimited [online]. UK: Guardian. Available at: URL:http://wwwguardian.co.uk/archive/article/0,4273,4136232,00.html [Accessed 18th February 2001]. Lambert, J, 2001. Electronic Telegraph City News Headlines [online]. UK: Electronic Telegraph. Available at: [Accessed 24th February 2001]. (Author unknown), 1997. Lawtel Case Law [online]. UK: Lawtel. Available at: [Accessed 4th March 2001] (Author and year unknown), Analysis - Agency-client Contracts [online]. UK: Marketing Law. Available at: [Accessed 20th February 2001]. Case Law -------- Cooper v Stephens [1895] 1 Ch 567 Shetland Times Ltd v Dr Jonathan Wills [1997] FSR 604 Sinanide v La Maison Kosmeo [1928] 139 LT 365 Spectravest Inc v Aperknit Ltd [1988] FSR 161 United Brands Co. v Commission (Case 27/76) [1978] ECR 207 Volk v Etablissements Vervaecke Sprl (Case 5/69) [1969] ECR 295 Statutes -------- The Copyright Act 1956 The Copyright, Designs and Patent Act 1988 s 16(1), s 17(2), s 20 European Competition Law Article 85(1) European Competition Law Article 86

Personal Development Paper Essay

I have a lot of scope for improvement. I have a lot of potential both professionally and in the personal space – I need to tap it. My asthetic sense, candor and imagination help me stand out in a crowd and I need to fine tune these skills. Given my high sensitivity to stress, I tend to get very irritable and frustrated during high pressure scenarios. I am exteremly disorganized and this has really harmed me all my life. I really need to work on my organization skills.Goals To be more organized, and disciplined. I need to have a stronger work eithc, and develop strong analytical and quant skills. I would also like to invest alot of time in reading, and wasting less time doing meaningless stuff. Reading and getting exposed to the opportunities everywhere gets me excited, and once I am excited – I am driven.Perception of others In all honesty, others view me as exteremly modest but that is because I am good at hiding my weaknesses. They respect my candor and people skills, and appreciate my input once in a while.Standards organization expects you to meet Disciplined, focused, very strong finance background, strong work ethic, working in high pressure scenarios, and having a strong sense of responsibility. DEVELOPMENTAL PLANNING WORKSHEET Professor Randall S. Peterson DEVELOPMENT ISSUE (from GAPS analysis): The issue is that I am easily intimidated, and not focused. I tend to get distracted with my surroundings and tend to loose interest in my own ambition and agenda. I tend to get bored easily, and leave things in the middle – very impatient.EXPECTED OUTCOMES: What will be different? What could someone else observe that will change? For starters I will be more diligent, focused and orderly. This can be seen through my group participation, my in class assignments, my club involvement and my career hunt activities. Juggling so many aspects at once will require all of the above. My quant and financial skills can really develop if I invest time, and effort in reading and understanding the material. This can also be a visible change.What will I gain by achieving the goal? What is in it for you? Happiness. Job. Personal satisfaction. Personal growth and development.WHO ELSE NEEDS TO BE COMMITED TO THIS: What will you need to do as soon as you get back to the office to get started? Who do I need to get committed to helping me? And what is in it for them? Me, myself and I.LEARNING STRATEGIES FOR DEVELOPMENT (use at least three of the six to make your development goal SMART) 1) Seek New Challenges/Projects Challenge PE CASE CHALLANGE Specific Action/Time/Deadline working with people in a field I have very little experience in. Taken a challenge. Have to work hard. This will improve my quant and tech skills.2) Take Courses and Workshops Course/Workshop Specific Action/Time/Deadline 3) Develop Ongoing Feedback Name(s)/Strategy for Identifying People Study Group Specific Action/Time/Deadline Montly feedback on progress – personally and professionally. Team contract also helps keep us in check. 4) Identify Role Models and Coaches Name(s)/Strategy for Identifying People Raluca – Class mate Specific Action/Time/Deadline She helps me stay focused and organized everyday. We plan the everyday in advance, and luckily always manage to achieve the target.5) Development Reading Books/Papers Specific Action/Time/Deadline 6) Other Learning Tactics Strategy Specific Action/Time/Deadline OBSTACLES What will I give up? I will give up making excuses. I will talk less listen more. I will give up wasting time, and reading more. I will give up being disorganized. What are the major obstacles and how will I manage them? Obstacle is just me and my mind – I need to be focused, and do proper time management. Not get distracted with the noise around me. Work at my pace, and be patient.How to work with me I am pretty flexible, and easy going. Only thing is I lack commitment, and have poor work ethics. I tend to get distracted easily and hence get frustrated when the pressure builds up. Please be a little strcit with me when it comes to academics. I need to get more responsibility so I am actually forced to put in effort, instead of depending on others. This will help me build my quant and analytical skills, and that will increase my confidence 10 folds. Since I tend to get distracted easliy, please always bring me back on track. I am very dependable, approachable, and I love interacting with people and learning through people. Hence, if I don’t understand something, and if someone explains it to me politely I will always listen. I tend to disagree alot, and sometimes unnecessairly. I am also very open to people criticizing me. I love negative feedback so I have room to develop. Please motivate me, and cultivate in me discipline.

Financial Accounting Final Answers

ANSWERS 1 a) 1 b) 1 c) 1 d) 1 e) 1 f) This transaction has no effect on the balance sheet since this is only an order, no financial value. 1 g) 1 h) 1 i) 1 j) 2 a) a] b] c] d] e] f] g] h] j] k] l] 2 b) INCOME STATEMENT as of April, 30th Sales Revenue$10,000 COGS $(6,500) GROSS MARGIN $ 3500 Salary Expense $(1,000) Rent Expense $(2,000) Utilities Expense   $(200) Depreciation Expense   $(90)TOTAL EXPENSES $ (3290)Net Income: 3500 – 3290 = $ 210 BALANCE SHEET as of April, 30th Cash 3,870 Acc / Pay 5,000 A/R 10,000 (Raw Mat 11,800 + Finished Goods1,500) Inv 13,300 Total Current Assets $ 27,170 Total Current Liabilities $ 5,000 (Depreciation $90) PPE (Net) $ 5910 C/S $ 30,000 Prepaid Rent $ 2000 R/E $ 80 Total Non-Current Assets $ 7,910 SHE $ 30,080 A = $ 35,080 = L + E = 30,080 + 5,000 = $ 35,080 Age |Amount |Estimate to be Uncollectible |Required balance in Allowance| |1-30 Days |$600,000 |%% 0. 70% |$4,200 | |31-60 Days |$175,000 |% 1. 20% |$2,100 | |61-120 Days |$70,000 |% 11% |$7,700 | |More than 120 Days |$10,000 |% 65% |$6,500 | |Year-end balance of allowance for doubtful accounts  Ã‚  Ã‚  Ã‚   = $20,500 | a) The credit balance in the allowance for uncollectible accounts is $ 2,500 20,500 – 2,500 = 18,000 3 b) In case of skimming the adjusting journal entry, since it would show expense understated; balance sheet equation would be overstated comparing otherwise. The reason to that is removal of this amount would present the company as if it contains higher receivable accounts. 4 a i) Cost of Goods Available for Sale = AFS = InvB + Purchases = = (3,500Ãâ€"66) + (3400Ãâ€"64. 75)+(3,200Ãâ€"64. 30) = $ 656,910COGS (LIFO) = (3,500Ãâ€"66) + (3400Ãâ€"64. 75)+(150Ãâ€"64. 30) = 231,000 + 220,150 + 9,645 COGS (LIFO) = $ 460,795 InvE = AFS – COGS = 656,910 – 460,795 = $ 196,115 = (3050Ãâ€"64. 30) a ii) Cost of Goods Available for Sale = AFS = $ 656,910 COGS (FIFO) = (3,200Ãâ€"64. 30) + (3,400Ãâ€"64. 75)+(450Ãâ€"66) = 205,760 + 220,150 + 29,700 COGS (FIFO) = $ 455,610 InvE = AFS – COGS = 656,910 – 455,610 = $ 201,300 = (3050Ãâ€"66) iii) Cost of Goods Available for Sale = AFS = $ 656,910 Total Units = 3,200 + 3,400 + 3,500 = 10,100 Total Sold Units = 3,600 + 3,450 = 7,050 COGS (FIFO) = (7,050Ãâ€"65. 0405) = COGS (FIFO) = $ 458,536 InvE = AFS – COGS = 656,910  œ 458,536 = $ 198,374 = (3050Ãâ€"65. 0405) 4 b) They are to use LIFO calculation in order to minimize Taxes. The reason for that is in LIFO, which is last in first out method costs of goods are calculated starting from the latest purchases, eventually with higher unit costs. So since the expenses will be shown higher taxes for this period shall be minimized. c) Thomas Engine Company is required to use FIFO method should they choose to report higher profits in March. As per FIFO cost for sold goods are calculated starting from the first received material (earlier inventory mostly as in this example) consequently with lower unit costs will take place in calculations for profits. 5) Original Cost = $ 177,600, Salvage Value= $ 9,600, Assumed Useful Life = 6 years Assumed Total Operating Hours = 30,000 hrs a i) Straight Line Method Average Depreciation Expense = (177,600 – 9,600) / 6 = 28,000 $/per year End of Year |Depreciation Expense ($) |Book Value ($) | |1 |28,000 |149,600 | |2 |28,000 |121,600 | |3 |28,000 |93,600 | ii) SYD Method |EoY |Depreciable Base ($) |Depr. Rate |Depr. Expense ($) |Accumulated Depr. $) |Book Value ($) | |1 |168,000 |6 / 21 |48,000 |48,000 |129,600 | |2 |168,000 |5 / 21 |40,000 |88,000 |89,600 | |3 |168,000 |4 / 21 |32,000 |120,000 |57,600 | a iii) Activity Method |End of Year |Hours Operated |Depr.Expense ($) |Book Value ($) | |1 |4,500 |25,200 |152,400 | |2 |5,000 |28,000 |124,000 | |3 |5,500 |30,800 |93,600 | b) c) As it is S/L Method the Average Depreciation Expense = (177,600 – 9,600)/6 = 28,000 $/per yearAccumulated Depreciation Expense at the end of 3rd year is = 28,000 x 3 = $ 84,000 d) As per SYD Table above Book Value at the end of the 2nd year is $ 89,600. Sold Price = $ 73,000 Loss = 89,600 – 73,000 = $ 16,600 Accordingly; e) As per tables above Book Values at the S/L and Activity Methods are same ($ 93,600) and higher than SYD. The reason of this coencidence is at the end of 3rd year, which is exactly the half of assumed useful life, total operating is (4,500 + 5,000 + 5,500) 15,000 hrs, which is also exactly half of the assumed total operated hours. 6) |Second Year |Second Year w/ loan | |Total Current Assets ($) |36,000 |46,000 | |Total Assets ($) |66,000 |76,000 | |Total Current Liabilities ($) |4,600 |4,600 | |Total Long Term Liabilities ($) |—– |10,000 | |Total SHE ($) |61,400 |61,400 | a) Long Term Debt Ratio= LTD / Total Assets = 0 / 66,000 = 0 b) Debt – Equity Ratio = Total Debt / SHE = 4,600 / 61,400 = 0. 75 c) Current Ratio = Current Assets / Current Liabilities = 36,000 / 4,600 = 7. 82 d) LTD / Total Assets = 10,000 / 76,000 = 0. 13 e) Total Debt / SHE = 14,600 / 61,400 = 0. 24 f) Current Ratio = 46,000 / 4,600 = 10 ———————– DR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 100,000 CR C/S†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 100,000 DR Equipment†¦Ã¢â‚¬ ¦. †¦. 225 CR Acc Payable†¦.. â € ¦ 225 DR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦. 5,000 † Ã¢â‚¬   †  †  †  †  †  † Ã¢â‚¬  ? † Ã¢â‚¬   †  †  † Ã¢â‚¬   †  †  † Ã¢â‚¬   CR Acc Receivable†¦ 5,000 A = L + E A = L + E DR Prepaid Insu Exp †¦. 3,000 CR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3,000 A = L + E DR Acc Receivable †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 5,000 CR Sales Rev†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 5,000 A = L + EDR Prepaid Rent†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 1,000 CR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 1,000 A = L + E DR Land†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 25,000 CR C/S†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 25,000 A = L + E DR Equipment†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 7,500 CR Acc Payable†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 6,800 CR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 700 A = L + E A = L + E DR Acc Payable†¦Ã¢â‚¬ ¦. †¦. 225 CR Check/Cash†¦.. †¦ 225 A = L + E Apr, 1st) DR Cash†¦.. †¦Ã¢â‚¬ ¦. †¦. $ 30,000 CR Common Stock. †¦ $ 30,000 Apr, 2nd ) DR PPE †¦Ã¢â‚¬ ¦. †¦. $ 6,000 CR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦ $ 6,000 Adjusting Entry on Apr, 30th ) DR Depreciation Exp†¦Ã¢â‚¬ ¦. $ 90 CR Acc Depreciation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. $ 90 Apr, 4th ) DR Inventory†¦.. †¦Ã¢â‚¬ ¦.. $ 10,000 CR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦ $ 10,000 Apr, 1st ) DR Prepaid Rent†¦.. †¦$ 4,000 CR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦ $ 4,000Adjusting Entry on Apr, 30th ) DR Rent Expense†¦Ã¢â‚¬ ¦. $ 2,000 CR Prepaid Rent †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. $ 2,000 Apr, 8th ) DR Work in Progress †¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $ 8,000 CR Raw Material in Use†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦ $ 8,000 Apr, 10th ) DR Raw Material †¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $ 5,000 CR Acc / Payable†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦ $ 5,000 Apr, 14th ) DR Inventory Expense †¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $ 4,000 DR Salary Expense†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦$ 1,000 CR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦. †¦ $ 5,000 Apr, 15th ) DR Inventory Expense †¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $ 800 DR Salary Expense†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦$ 200 CR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦. †¦ $ 1,000 Apr, 30th ) DR Accounts Receivable†¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 10,000 CR Sales Revenue†¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦. †¦$ 10,000 Apr, 30th ) DR COGS†¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $ 6,500 CR Inventory. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦. †¦$ 6,500 Apr, 30th ) DR Dividend†¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦.. $ 130 CR Cash†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦. †¦$ 130 DR Bad Debt Expense †¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $ 18,000 CR Allowance for Doubt Acc†¦Ã¢â‚¬ ¦. †¦ $ 18,000 Average Unit Cost = =656,910/10,100 = $ 65. 0405 DR Depr Exp †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦$ 28,000 CR Acc Depr†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. $ 28,000 A = L + E DR Depr Exp †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $ 28,000 Acc Depr†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $ 28,000 Loss from Asset Disposal†¦Ã¢â‚¬ ¦. $ 16,600 CR Machinery†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $ 177,600 A = L + E R/EB + N/I = R/EE + Dividend 0 + 210 = R/EE + 130 R/EE = $ 80