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Modernity: At What Cost?, 2007.
An analysis of the books "Kidnapped" by Robert Lewis Stevenson, "All Quiet on the Western Front" by Erich Maria Remarque and "Dynamics of Faith" by Paul Tillich.
980 words (approx. 3.9 pages), 3 sources, MLA, £ 23.95
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Abstract
This paper discusses three books that describe western civilization's progress toward modernism: "Kidnapped", "All Quiet on the Western Front" and "Dynamics of Faith". The paper examines the characters of David in "Kidnapped" and Paul in "All Quiet on the Western Front." The paper portrays how the authors of these two novels present a dim view of a society that often embraces evil at the expense of faith and humanity. The paper notes that "Dynamics of Faith" by Paul Tillich takes a more optimistic view of the modern world and modernity.
From the Paper
"Both of these novels take place at crucial times in history, when the world was changing in many ways. In "Kidnapped," David's life alters because of his parent's death and his circumstances change dramatically. He begins to see a side of life that can only be described as more "modern" than he was used to - filled with dangerous men with little faith or goodness in them. Stevenson seems to be saying there is great evil in the world of the 1750s - murder, slavery, arranged kidnappings, and more, and it is due to a lack of faith and Godliness in many people."
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Traditional Cost Accounting vs. Activity Based Costing, 2006.
This paper examines the pros and cons of two specific cost accounting systems: Traditional cost accounting (TCA) and activity based costing (ABC).
1,725 words (approx. 6.9 pages), 9 sources, MLA, £ 38.95
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Abstract
The writer of this paper stresses that the purpose of any cost accounting system is to provide current information about the total cost of manufacturing a product or performing a service. This paper analyzes in detail the strengths and weaknesses of traditional cost accounting (TCA) and activity base costing (ABC). TCA is a well developed method of estimating cost incurred while the ABC system is based on costs which are driven by factors other than product volume.
From the Paper
"A problem may arise in the use of actual overhead costs. The problem stems from the fact that many of the elements of manufacturing are fixed costs, rather than variable costs. Fixed costs are those that tend to remain relatively constant from month to month. Examples of fixed overhead costs include the monthly salary paid to plant managers, depreciation, property taxes, and insurance on plant assets."
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Modern Management Techniques, 2008.
Looks at the modern management techniques of just-in-time (JIT), total quality management (TQM) and activity-based costing system (ABC).
2,270 words (approx. 9.1 pages), 9 sources, MLA, £ 48.95
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Abstract
This paper explains that just-in-time (JIT), total quality management (TQM) and activity-based costing system (ABC) are often directed toward reducing the company's costs as well as maximizing profit, improvement of the operation of the business itself, management competence and good internal and external relations of the organization. The paper then describes the establishment of a just-in-time (JIT) management at Toys-R-Us, total quality management (TQM) at AT&T and activity-based costing system (ABC) at Conoco. The paper also examines the structure and advantages of each program.
Table of Contents:
Toys-R-Us Implementing Just-In-Time Inventory System
AT&T implements Total Quality Management
Conoco Implementing Activity-Based Costing System
From the Paper
"A total quality system should be designed to promote a reorientation of thinking from an emphasis on inspection to an emphasis on prevention, continuous improvement, and building quality into every process and product. This reorientation should indicate any existing quality problems so that managers can set goals and identify methods for quality improvements. The system should also be capable of measuring quality and providing feedback on quality improvements. Last, the system should encourage teamwork in the quality improvement process."
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Activity-Based Costing, 2006.
A discussion of the costing model called activity-based costing, which emphasizes the causes behind indirect costs.
2,250 words (approx. 9.0 pages), 8 sources, £ 61.95
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Abstract
This paper considers the relatively new costing model called activity-based costing, developed in the 1980s and then refined through use by various organizations since. This approach is designed to focus attention on the causes behind indirect costs. The ABC system is directed largely at the issue of allocation, placing an emphasis on activities rather than traditional organizational departments as a way of isolating the causes of costs, or the factors that are most likely to cause or contribute to the accumulation of costs.
From the Paper
"Activity Based Costing (ABC) was developed in the 1980s and has been refined through use by various organizations since. This approach is designed to focus attention on the causes behind indirect costs. The ABC system is directed largely at the issue of allocation, placing an emphasis on activities rather than traditional organizational departments as a way of isolating the causes of costs, or the factors that are most likely to cause or contribute to the accumulation of costs (Lewis, 1993, 12). The elements of this system can be applied to the working of a given business to help identify what may be driving costs upward. ABC can also be described as "a costing model that identifies the cost pools, or activity centers, in an organization and assigns costs to products and services (cost drivers) based on the number of events or transactions involved in the process of providing a product or..."
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Low Costs Of Production In China, 2006.
An analysis of the effects of low cost production on the market in the United States.
5,314 words (approx. 21.3 pages), 13 sources, MLA, £ 91.95
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Abstract
This paper discusses the low costs of production in China. It compares these low costs to the costs of production in the United States and discusses the reasons for the differences in the the costs of production between the two countries. The paper presents the advantages and disadvantages of production in both the United States and in China. It also discusses what effects the low cost of production in China have on the market in the United States.
Table of Contents:
Introduction
American Economy
Production in America
Issues Affecting Product
Costs of Production
Demand in the Market
Competition Between Manufacturers
Quality of Products
Affecting the Quality
Price of Product
Well Educated Labor
High Technology
High Quality Raw Materials Consumer Expectations from Companies
Low Prices
Higher Quality Products
Good Maintenance Service and Warranty
Economy in China
Production in China
Competitive Production Costs
Quality of Products
Comparative Advantages Between China and the U.S
High Population
Low Labor Costs
Low Land Costs
Low Costs of Production
Very Low Prices
Comparative Disadvantages of the U.S. Economy
Conclusions and Recommendations
Conclusions
Recommendations
From the Paper
"During the past 30 years or more, the U.S. had the most powerful economy not only for its high production but also for its international trade strategy and production technology. But today, the U.S. is not the country of economic dreams as it was before. People are not as relaxed as they were regarding their jobs. In his 2006 study, Janitz stated: "People and companies are worried about losing jobs and opportunities" (p. 20). The main thread to U.S. jobs is outsourcing to China. The U.S. is badly affected, the unemployment rate increased, by the economic growth of China, and it seems it cannot do anything to reverse this situation. According to Janitz (2006), the U.S. still has a chance to overcome this problem by better management (p. 20). The Major advantage China has over the U.S. is its high population that offers a cheap labor force. These wages also affect the total costs of production and lower the price of products. This is the major problem the U.S. has to compete with. It's a general consumer behavior that they always want to buy the highest quality product by paying the lowest fee. Unfortunately, higher quality products cost too much. Before buying a product, consumers generally decide which one is most important for them: buying the product with highest quality or cheapest price. And another factor which helps them to decide is the costs of production."
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Full Costing in Manufacturing and Service Organizations, 2002.
This paper reviews the issues associated with the different approaches to costing.
2,038 words (approx. 8.2 pages), 7 sources, MLA, £ 44.95
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Abstract
Full costing treats all costs as product costs. Thus, all overhead costs are allocated to costs of production for specific products. Variable costing, in contrast, includes only the costs for those factors that change with the production of an additional unit of good or service. The paper traces the disagreement that exists as to the merits of each of these approaches to costing for purposes of control and decision-making within organizations.
From the Paper
"The traditional product-costing model includes the following elements: (1) for product-costing purposes, the firm is separated into functional areas of activity-that is, manufacturing, marketing, financing, and administration; (2) the manufacturing costs of direct materials, direct labor, and manufacturing overhead are subject to inventory; (3) direct materiel and direct labor costs are considered to be traceable directly to the product; (4) manufacturing overheads of both production and manufacturing service departments are treated as indirect costs of the product, while being charged to the product by the use of predetermined overhead rates; (5) when a single, plant-wide, predetermined overhead rate is used, overhead is charged indiscriminately to all products without regard to possible differences in resources used in the manufacture of one product versus another; and (6) the functional costs of marketing, financing, and administration are accumulated in cost pools and are treated as costs of the period in which they are incurred."
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Health Care Costs, 2008.
A discussion of the rising costs of health care in the United States.
1,050 words (approx. 4.2 pages), 6 sources, APA, £ 25.95
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Abstract
This paper takes a look at the reasons health care costs continue to rise in the United States. It points out that many factors interact to increase costs and these factors include certain elements that, ironically, are thought to reduce costs or that may have been intended to reduce costs. The paper adds that costs increase in part for natural economic reasons, such as the cost of developing new drugs, or the added costs accruing due to the creation and implementation of new medical technology. The paper maintains that one of the primary reasons fo cost increases is that the public does not pay for what it uses in medicine, meaning that people do not pay directly out of their own pockets. Instead, millions have their costs paid by insurance or a company health plan, and this increases the overall costs. To conclude, the paper calls for a better and more certain analysis of how costs could be reduced.
From the Paper
"The patient may pay something on his or her bill, but it is usually only a part of the whole. Alterio (2007) notes how some of the efforts to control costs can harm patients, which in turn increases health care costs over time because patients may have to wait longer for treatment and need more medical attention when they do get it. Alterio notes that keeping down costs in HMOs often means requiring doctors to see more patients per hour and to give each patient less time, which saves money in the short-term while increasing costs in the long run."
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Standard Based Costing and Performance Measures, 2002.
A paper that outlines the various defects of the standard based costing method and how it does not effectively measure the manufacturing environment of today.
1,650 words (approx. 6.6 pages), 8 sources, APA, £ 36.95
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Abstract
The paper explains that in production organizations, the basic concern of the management is to have smooth operations with the least cost possible. There the existence of cost is measured by the tangible output each component of the department produces and income is compared to the cost incurred. The paper shows that a system that is set for measuring the performance level of the tangible assets is known as a standard based cost. The production level is measured periodically and compared with the actual costs incurred. Any deviation from the original cost is considered as variance and hence they are measured separately. The paper discusses that the overall costing structure is dependent on the standard costing method and performance is also evaluated on this basis. The paper shows how, in the recent years, the structure of the manufacturing environment has changed the way management view standard costs. Since most of the work is performed on a large scale and depends on highly innovative technology, many argue that the concept of standard costing has become redundant and ineffective. The paper analyzes this concept.
From the Paper
"Standard based costing allows the business to plan its cost according to the level that favors the management in optimal usage of resources and minimum cost price. There are two types of standard that could be used to measure. One is ideal standard where the price is planned to the minimum compared to manufacturing capacity. Second attainable standard where the overall lowest price is noted for costing and a considerable level of efficiency is noted. The costing system does not expect 100% capacity but it does try to minimize spoilage percentage. Thirdly, direct material and labor standards where per unit material and labor is noted for production of per unit of the product. Through these methods it is clear that the standard based costing system is not usually attainable and hence subject to criticism. The reason being that direct labor and direct material cannot be accounted for if the products are lying idle at warehouses in case of emergencies."
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Cost Benefit Analysis, 2004.
An overview of cost benefit analysis and review of the article, ?Cost Benefit Analysis and Business Research?, by Jennifer Giacin.
1,200 words (approx. 4.8 pages), 3 sources, MLA, £ 28.95
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Abstract
This paper examines how cost benefit analysis refers to the method by which organizations assess the outcome of various actions or projects and how it has often been projected as a useful measurement tool that allows accurate measurement of possible benefits, which are then compared with the costs to be incurred. It looks at how the tool is widely used by the corporate sector for business research. It summarizes one article in connection with cost benefits analysis in business research and sees how it can be applied in an organization or in personal lives. Jennifer Giacin, BS, CSA, in her article, ?Cost Benefit Analysis and Business Research?, discusses the increasing use of cost benefit analysis in the corporate sector, especially in the area of training programs, and also touches upon the merits and demerits of such actions.
From the Paper
"Cost benefit analysis may sound like a scientific term that only few people can understand or implement, but the truth is that this method is regularly used by all of us in professional as well as personal lives. Whenever we are required to make a decision regarding something of importance, we weigh its possible pros and cons before taking the giant leap. Cost benefit analysis is part of human nature and thus consistently used by every rational person. In our personal lives, we encounter situations that require us to make some kind of investment whether emotional, financial or physical. But since these resources are important to us, we want to use them wisely and thus would assess the possible benefits of the action before making a decision."
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Cost Control, 1986.
This paper looks at cost control as applied to conceptual & detailed engineering & construction projects. It includes definition, purpose, elements of effective cost control program, problems, roles of cost engineer & project manager, and forecasting.
3,375 words (approx. 13.5 pages), 4 sources, £ 82.95
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From the Paper
"Cost control is one of the basic responsibilities of project management. Effective cost control allows for projects to be completed on schedule and within the budget so that the owner can realize his expected profits and keep his financial requirements within predetermined limits. Cost control is inextricably linked with the project functions of quality control and schedule control. It is the job of project managers to make sure that equilibrium is achieved between quality, schedule and cost.
The objectives of a typical cost control program are as follows:
1) To identify potential cost problems in time for corrective action to be taken, and to prevent budget overruns before they occur.
To keep each project supervisor advised of the budget for(...)"
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Implementing the Activity-Based Costing System, 2008.
An overview of the methods of applying the "activity-based costing system" at Dakota Office Supply, in which actual costs associated with each product are established.
1,425 words (approx. 5.7 pages), 4 sources, APA, £ 32.95
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Abstract
The paper discusses, in a detailed description, the effectiveness of an activity-based costing system or ABC and the ineffectiveness of the current costing system in use at the Dakota Office Supply (DOS) company . The paper then relates the methodology of implementing ABC at DOS and the procedures involved in its application.
Outline:
Overview
Situational analysis
Activity based costing
ABC in practice at Dakota
Procedural steps of ABC
From the Paper
"Before performing ABC, a baseline or a starting point is needed for business process improvement and a baseline can be expressed in some form of model. This baseline is critical for DOP because in order to establish this baseline metric the analytics just performed must be done for each individual account. If DOP performs this activity on each customer the strategic management benefits would be substantial because all the excess cost-drivers could be eliminated resulting in much wider operating margins and thus profitability without increasing costs or committing resources to gain this efficiency. Therefore, a baseline is a documentation of the organization's policies, practices, methods, measures, costs and their interrelationships at a particular location at a particular point in time (Maiga & Jacobs, 2003). Through base-lining, activity inputs and outputs across functional lines of business can be identified. ABC is the only improvement methodology that provides output or unit costs. Value added activities are those for which the customers are usually willing to pay in some fashion for the product or service. Non-value added are activities that create waste, result in a delay of some sort, and potentially adds costs to the products or services. Resources are assigned to activities so that the activities can be performed in the first place. Some of Pilgrims' resources are measured in man-hours, machine hours as well as machine maintenance and operational overhead. It is through ABC that an organization can begin to see actual dollar costs against individual activities, and find opportunities to streamline or reduce those costs, or even eliminate the entire activity thus removing the cost altogether. This is the process inherent in ABC that reduces overall expenditures of the company. "
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The Costs of Quality Control, 2002.
This paper discusses the costs of quality control based on the theories of Joseph Juran and Genichi Taguchi.
1,120 words (approx. 4.5 pages), 3 sources, MLA, £ 26.95
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Abstract
This paper explains that, while quality has turned Japan into a market leader in various fields, continuous improvement may not exactly be a sound approach because of the costs involved. The author states that Juran believes there exists an optimum level of quality, beyond which there could be declining marginal returns; thus, no attempt should be made to improve quality further once this level has been achieved. The paper relates that Taguchi?s approach, known as quality loss function, states that the loss to society and producers increases when the quality level deviates from a specific target: The wider the difference between ideal and reality, the greater will be the loss to society. Tables.
Table of Contents
Prevention Costs
Appraisal Costs
Internal Failure Costs
External Failure Costs
Relationship between Quality Cost Categories
From the Paper
"Joseph Juran first popularized this concept in 1950s, but it was challenged by another quality theorist Crosby who maintained that quality was free. However, Juran has repeatedly advocated in-depth analysis of quality related costs as he believes that rising quality costs could result in lower overall revenues. "Because the main language of [corporate management] was money, there emerged the concept of studying quality-related costs as a means of communication between the quality staff departments and the company managers.? Realizing that quality costs could sometimes be a burden on the company and were thus important to pay attentions to, he separated these costs into four distinct categories. These categories focus on each area of quality control and make it clear for companies to determine where which areas can impact their sales profits the most."
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Cost Estimate Articles, 2005.
Analyzes three different articles on the subject of cost estimation.
1,600 words (approx. 6.4 pages), 3 sources, MLA, £ 36.95
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Abstract
This paper examines and discusses three articles which deal with cost estimates in various situations. Articles discussed are: "Cost Estimate on Stadium Jumps" (David Nakamura and Lori Montgomery) which discusses the cost of building a baseball stadium and renovating Robert F. Kennedy memorial stadium in Washington, D.C; "Life-Cycle Cost Analysis - Evaluation and Economic Investment Team" (Keith Goodman) which argues in favor of a life cycle cost analysis approach, suggesting it is the best method for analyzing costs over time and assessing the overall value and benefit of a project, service or other commitments and, finally, "Activity Based Costing: What is it and how can Reengineering Teams Use it?" (Nancy Maluso) which discusses the basics of activity based costing (or ABC).
From the Paper
"Maluso claims that traditional accounting systems are not accurate because they do not allocate costs correctly. Further the author suggests that high volume products and services may actually incur a large percentage of overhead costs but these costs aren't actually assigned correctly. Maluso goes as far as claiming that small batch and low volume products actually incur anywhere from 200 to 1000 percent more overhead than what is actually assigned them. Her analysis is used to justify the notion that products and services that a company might believe are highly profitable are in all reality profit "eaters" according to the article."
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Cost Accounting, 2005.
This paper discusses the roles and uses of cost accounting in a firm's decision-making processes.
3,800 words (approx. 15.2 pages), 13 sources, APA, £ 72.95
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Abstract
This paper explains that cost accounting is a part of managerial accounting: Whereas financial accounting is concerned with recording actual financial transactions, managerial accounting is concerned with the discovery of relationships in financial data. The author points out that one of the critical factors involved in cost accounting is the differentiation of fixed costs, which must be borne by a firm regardless of activity levels, and variable costs, which fluctuate according to activity levels, so that managers are able to construct break-even charts and other decision-making and control tools. The paper states that the three principal functions of standard cost systems are (1) identifying the actual costs of operation, (2) determining the achievement of the production operation, and (3) evaluating the performance of the production operation.
Table of Contents
Introduction
Cost Accounting: Definition, Roles, Concepts, and Applications
Standard Costs
Transfer Prices
Summary
From the Paper
"Production costs are also considered in the contexts of full costs, direct costs, indirect costs, job costs, process costs, standard costs, joint costs, and others. These costing concepts are all a part of the cost accounting process. Each of these concepts provides the manager with a different perspective of costs. These different perspectives may provide a means of enhancing the efficiency of an operation, without damaging the integ?rity of the firm, even though most of the costs derived through the application of these concepts of costs will differ from the costs derived through the application of financial accounting concepts. The use of costs derived through the application of these managerial accounting concepts permits managers to make valid and rapid decisions on the basis of performance variances from managerial accounting cost factors or ratios."
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