Deconstructing an accounting paradigm shift - MyAssignmenthelp.com

Question: Talk about the Deconstructing a bookkeeping change in perspective. Answer: Section A: Debilitation has an essential regulation that an advantage probably won't be carried on the accounting report explanation past the recoverable worth, which is the more noteworthy of the reasonable estimation of the benefit less expense to sell and worth being used. The correlation between the conveying esteem and the recoverable estimation of the benefit is made and the advantage is impeded at the time the previous is more than the last mentioned (Bond, Govendir and Wells 2016). Any distribution of impedance is made to the benefit by then of time with the hindrance misfortune acknowledged in benefit or misfortune. All advantages subject to the survey of debilitation are tried for impedance, in which there means that the benefit may be weakened. Be that as it may, there are various resources like endless elusive resources and altruism, which are tried for yearly hindrance without any weakness pointer (Laing and Perrin 2014). The calculation of recoverable sum is made at the individual resource level. In any case, an advantage prompts incomes autonomously of different resources and larger part of the benefits are tried for disability in classes of advantages clarified as money creating units (Linnenluecke et al. 2015). As indicated by Paragraph 104 of AASB 136, the debilitation misfortune for money creating unit (CGU) is acknowledged, if the recoverable worth identified with the CGU is lower contrasted with the conveying measure of that CGU. The designation of debilitation misfortune is made for decreasing the conveying estimation of the unit resources and they are followed successively in two stages. Right off the bat, the conveying measure of any altruism allotted to the money creating unit would be limited and also, the other resource units professional rata dependent on the conveying measure of every benefit in the unit would be diminished. Such minimisations in conveying sums should be treated as impedance misfortunes on singular resources and they are to be acknowledged with adherence to Paragraph 60 of AASB 136 (AASB 2014). Besides, Paragraph 105 of AASB 136 states that for dispensing impedance misfortune, an association need not limit an advantages conveying sum underneath the more noteworthy of three potential other options. These choices incorporate reasonable worth less removal costs, esteem being used and zero. The disability misfortune sum, which would have been allotted contrastingly to the advantage, should be distributed ace rata to the next unit resources. Section 106 of AASB 136 refers to that it is unimaginable all an opportunity to foresee the recoverable sum related with every individual resource of a money producing unit. Consequently, this standard needs an irregular distribution of impedance misfortune between the units resources aside from altruism. This is on the grounds that every benefit of a money producing unit is associated with cooperating (Kabir, Rahman and Su 2017). Besides, Paragraph 107 of AASB 136 means that on the off chance that, the recoverable sum related with an individual resource isn't determined, it may prompt two distinct circumstances. Right off the bat, a debilitation misfortune is acknowledged for the benefit, in the event that; the conveying sum is higher as opposed to the reasonable worth short removal cost and the results of the strategies of designation spread out in Paragraphs 104 and 105 of AASB 136 (AASB 2015). Also, the acknowledgment of disability misfortune is made for the benefit, on the off chance that; the related money creating unit isn't impeded. This is material when the reasonable estimation of the benefit less the removal cost is lower as opposed to the conveying measure of that advantage. For example, a machine has experienced physical harm; in any case, it is still in working condition, despite the fact that the presentation isn't compelling, as it was previously. The reasonable worth short removal cost of the machine is lower contrasted with its conveying sum. What's more, it doesn't bring autonomous incomes. The littlest recognizable class of advantages incorporating the machine alongside getting money inflows free of the money inflows from different resources is the line of creation to which the machine has a place. The recoverable sum identified with the line of creation portrays that such line isn't disabled completely. For this situation, two distinct presumptions could be made. The principal supposition that will be that the gauges or financial plans that the administration endorsed imply absence of duty level of the administration in supplanting the machine. The machines recoverable sum couldn't be envisioned, as the worth being used of the machine may change from the reasonable worth less removal expenses and it could be found out for the CGU to which the machine has a place (Banker, Basu and Byzalov 2016). Subsequently, there is no acknowledgment of debilitation misfortune for the machine. Along these lines, it is important for the association to reexamine the time of deterioration or the technique for devaluation identified with the machine. It is prescribed to the association to receive shorter time of devaluation or quicker technique for deterioration for meaning the rest of the life of the machine or the manner by which the monetary advantages are assessed to be expended. The subsequent supposition that will be that the figures or spending plans that the administration endorsed represent its responsibility in supplanting the machine by selling it in the up and coming years. The money inflows from the nonstop use of the machine until its removal are anticipated to be nearly nothing. For this situation, the worth being used of the machine couldn't be foreseen as near the reasonable worth short expense of removal. Consequently, it is beyond the realm of imagination to expect to determine the recoverable sum related with the machine (Zhuang 2016). From this time forward, there is nonattendance of any thought to the money creating unit, in which the machine has a place, which is the line of creation. As the reasonable worth less expense of removal of the machine is lower rather than its conveying sum, a disability misfortune is acknowledged for the machine. In view of the above conversation, it could be construed that when a hindrance misfortune happens in a CGU barring generosity, the misfortune is distributed all through all the benefits in the CGU dependent on expert rata, which is comparative with the general conveying measure of the CGU. At long last, the bookkeeping of misfortunes is done similarly like that for the individual resources. Part B: References: AASB, C.A.S., 2014. Business Combinations.Disclosure,66, p.77. AASB, C.A.S., 2015. Interests in Associates and Joint Ventures. Investor, R.D., Basu, S. what's more, Byzalov, D., 2016. Ramifications of Impairment Decisions and Assets' Cash-Flow Horizons for Conservatism Research.The Accounting Review,92(2), pp.41-67. Bond, D., Govendir, B. what's more, Wells, P., 2016. An assessment of benefit impedances by Australian firms and whether they were affected by AASB 136.Accounting Finance,56(1), pp.259-288. Kabir, H., Rahman, A.R. what's more, Su, L., 2017. The Association between Goodwill Impairment Loss and Goodwill Impairment Test-Related Disclosures in Australia. Laing, G.K. what's more, Perrin, R.W., 2014. Deconstructing a bookkeeping change in outlook: AASB 116 non-current resource estimation models.International Journal of Critical Accounting,6(5-6), pp.509-519. Linnenluecke, M.K., Birt, J., Lyon, J. also, Sidhu, B.K., 2015. Planetary limits: suggestions for resource impairment.Accounting Finance,55(4), pp.911-929. Zhuang, Z., 2016. Conversation of An assessment of advantage disabilities by Australian firms and whether they were affected by AASB 136.Accounting Finance,56(1), pp.289-294.

Personal Development Plan Portfolio Report Essay

Self-improvement Plan Portfolio Report - Essay Example The evaluation incorporates perusing, composing, and oral correspondence, close by with cooperation, critical thinking, individual viability, numeracy, and data innovation. The area wherein I scored the most reduced imprints was oral correspondence. The area where I scored the most noteworthy was close to home adequacy. The second analytic which is utilized was ‘Rough and Ready Reckoner’. This symptomatic was especially fascinating as it estimated inclination for one’s learning style. The analytic inferred that I am a dissident who needs open thankfulness and who is continually searching for new and new encounters. This specific demonstrative additionally uncovered various deficiencies of my character which were scarily precise. It demonstrated that I am a daring person be that as it may, these dangers are frequently unjustifiable. Different shortcomings like indiscretion and absence of fixation were uncovered from the indicative. The third indicative that helped me comprehend my adapting needs was VAK self appraisal. The analytic inferred that I favor a sound-related learning style. As indicated by the analytic, I am progressively disposed to gain from tuning in to others and utilizing my sound-related faculties. I lean toward gaining from focusing on what is being said instead of other learning through physical experience and visual learning. As per the indicative, the principal objective I have set for myself is to improve my oral relational abilities. I have consistently experienced issues in communicating my perspective, and thusly the principal objective I have set is to take a shot at my verbal relational abilities. This objective is likewise in accordance with the data I got from demonstrative test. Compelling correspondence will help increment my odds of getting alluring work openings in future since it is the most essential ability all businesses are searching for in forthcoming representatives (Bridgstock, 2009). This is the reaso n defining the objective of improving oral correspondence is advocated. The second improvement objective that I have set is to arrange and convince other gathering individuals in the group. The diagnostics disclosed to me that I am a lobbyist that is searching for appreciation. This occasionally drives me to yield to the assessments of others in any event, when I don't completely concur with them. This is something which, I accept, is preventing advancement and, along these lines, I have chosen to set this improvement objective to improve my group working and gathering working aptitudes. The third advancement goat that I have set is to improve my examination abilities while finishing my scholarly assignments and reports. This objective will assist me with improving my scholastic execution to an extraordinary degree, and is relied upon to lead me to long haul scholarly achievement (Kramer, 2002). The indicative educated me that I experience issues in focusing on a certain something. This is the reason I have set this specific scholastic advancement objective. Progress Review The utilization of the three indicative techniques referenced above helped me a great deal in understanding my qualities and shortcoming both at individual and scholastic level. These analytic tests uncovered significant data for me that helped me build up my improvement objectives. The tests uncovered that I need great oral relational abilities, which is the reason I am not ready to communicate. The truth was severe be that as it may, it helped me recognize regions of progress. With respect to group working aptitudes, I thought I generally had an edge since I truly like working in groups. Analytic strategies helped me comprehend that I like energy about individuals and this was the motivation behind why I was a

Understanding Cash Flow Statements

Understanding Cash Flow Statements When it comes to understanding business finances, the ability to read different financial statements becomes crucial. A cash flow statement is an important and essential part of keeping a record of the business’ financial liquidity. Business’ liquidity matters because it often directly signals the company’s ability to pay off debts and to generate money â€" problems in either can have devastating consequences in terms of business’ long-term survival. © Shutterstock.com | ScandinavianStockIn this guide, you’ll learn to understand the 1) definition of a cash flow statement, with its benefits and disadvantages. The guide will also look at the 2) structure of a financial statement and the 3) different preparation methods you can use to calculate a company’s cash flow.WHAT IS A CASH FLOW STATEMENT?Cash flow statement is one of the core three financial reporting tools companies use. It is designed to complement the balance sheet and the income statement. In most accounting systems around the world, a cash flow statement is part of the mandatory reporting.A cash flow statement is an official record of cash and cash equivalents entering and leaving a business entity. It focuses on showcasing the sources of money in the business as well as how it is spent over a specific period.It usually looks at the general accounting period, such as a financial year, but cash flow statements can be created over any specific period.It is important to note that a cash flow statement doesn’t necessarily include  non-cash items. The statement is similar to the income statement, as a statement to record a business’ financial performance, yet the exclusion of these non-cash items makes it different from the income statement.The cash flow statement is therefore in essence a way to see how much actual cash the company is generating and spending.Who uses and needs a cash flow statement?As mentioned above, a cash flow statement is part of the mandatory accounting reporting in most countries for a business entity. Whether the entity is a corporation, a public company or a sole proprietorship, a cash flow statement will be part of the accounting standards.There are some differences as to who gets to view a company’s financial statements, such as a cash flow statement. Publicly traded companies are required to make statements, such as the cash flow statement, available for the public. But other smaller companies often don’t need to provide a public report, yet must have one in their own records.People and groups that can benefit from viewing a cash flow statement include:The entity’s ownersThe entity’s accounting personnelPotential lenders or creditorsPotential investorsPotential employees or other contractorsShareholders of the businessAll of the above have their own reasons for benefitting from the cash flow statement. The above list simply shows a cash flow statement is widely used and an important part of a company’s financial reporting.While a cash flow statement often looks at a single year, many companies also produce quarterly cash flow statements. These could be very helpful, especially for entrepreneurs who have just started out or entities trying to get out of financial trouble.The benefits and disadvantages of a cash flow statementBefore we look at the structure of a cash flow statement in more detail, it is important to understand why a cash flow statement is essential for a business. Fur thermore, you should understand the limitations of a cash flow statement to ensure you don’t use the statement the wrong way.The biggest advantage of a cash flow statement is its ability to show the company’s short-term viability in terms of its cash position. This allows the company to see how much it has cash available to commit to repayments or investments, for instance.The cash flow statement is good at highlighting this cash liquidity in the company. This is something you cannot see from the profit and loss statement, for example. On the other hand, with a cash flow statement you can see how much money you have available for accounting the issues on your profit and loss statement.The second big advantage of a cash flow statement is its ability to make predictions. As you are able to see the company’s liquidity position, you are able to arrange the company’s finances to better respond to future issues. For example, if you can see your company’s liquidity is currently s trong and there are a few debt repayments in the long-term future, you can try to clear some of them with the current liquidity.Finally, a cash flow statement can benefit companies by attracting more investors to invest in the company. Investors don’t want to make decisions without fully understanding the financial position of the company, and so the more information you can provide for them the better.On the other hand, investors can also benefit greatly from a cash flow statement. It shows plenty of information about the company’s financial health and by comparing it with other financial statements, investors can see whether the finances are correct and up to date.In terms of disadvantages, it is important to understand that a cash flow statement only tells one side of the story. Since it only deals with cash, it cannot be used as a profit and loss statement.Therefore, to truly make the most of your cash flow statement, you need to use it together with other financial statemen ts. Together with statements like the balance sheet, you’ll get a more detailed look into the entity’s finances.THE BASIC STRUCTURE OF A CASH FLOW STATEMENTThe first thing to know about the cash flow statement is its division into three separate sections. A cash flow statement looks at three components of core operations, investing, and financing in order to come to the final conclusion.One of the major distinctions in a cash flow statement, compared to an income statement and a balance sheet, is the lack of reporting on future incoming and outgoing cash. Furthermore, some of the things you won’t know from a loss and profit statement, but which feature at the cash flow statement include:Owner’s draws out of the businessPayment of credit card principalPayment of loan principalA cash flow looks at only the movements in the three sectors during the determined period, not what is going to happen in the future. Therefore, the cash figure announced in the statement is not net inco me of the entity.Let’s now look at the three sections in more detail.OperationsThe operations section of the cash flow statement reflects the company’s cash generation from its products and services. It measures both the inflows and outflows of the core business operations.In a typical cash flow statement, the operations part involves incoming and outgoing amounts, or the changes to cash, accounts receivable, depreciation, inventory and accounts payable.Since cash flow doesn’t involve income from non-cash items, many of the above items need to be re-evaluated when generating a cash flow statement from the balance sheet.The example of depreciation illustrates the issue well. Since depreciation isn’t a cash expense, it is added back to the net profit when calculating operating cash flow.Furthermore, operating cashflow must reflect changes in accounts receivable. If the accounts receivable drops from one accounting period to the other, the change reflects an injection of cash t o the company. The injection will be reflected by calculating the decreased amount and adding it to net profit.On the other hand, if the accounts receivable sees an increase from one accounting period to the other, the increased amount needs to be deducted from net sales. While these are revenue, they are not cash.In terms of the inventory, an increasing inventory means the company has spent money. If the inventory was bought off with cash, the value is deducted from net profit. On the other hand, if the inventory sees a decrease the amount is added to net profit.Finally, any payable credit, taxes and salaries, for instance, will result in an increase in accounts payable and the increase from one period to another will be added to net profit.As a rule of thumb for these sorts of payments, you can consider that everything that has been paid off will be subtracted from net income.InvestingThe second part of a cash flow statements deals with the incoming and outgoing cash relating to i nvesting. This includes the changes in equipment, assets and other investments.In most instances, this section is cash leaving the company, since companies mostly use cash to buy new equipment and tools, for example. Businesses’ even invest in assets such as marketable securities.It is crucial to note that if a business entity divests an asset, the transaction will be accounted as incoming cash.FinancingThe third part of the statement deals with financing. It isn’t possible to start a company without some sort of financing and this section deals with both the money the owner has invested into the company, as well as the money they have borrowed to keep the company going.In short, this section includes incoming and outgoing cash changes in debt, loans and dividends. The items considered in this part of the statement can be both short- and long-term liabilities and equities. Therefore, some of the most common items in the section include:Interests paidDividends paidIssuance or pur chase of common stockIssuance or repayments of debtIf the company is raising capital, then the amount is calculated as cash coming into the business. On the other hand, if dividends are paid, the cash is considered to leave the company.Non-cash activitiesIt is also worth pointing out that while non-cash activities are not part of the cash flow statement, some non-cash activities must be mentioned as a footnote in the statement. These generally include any non-cash investing and financing activities.These might include the following non-cash financing activities:Leasing to purchase an asset for the businessConverting part of a debt to equityExchanging non-cash assets or liabilities for other such assets or liabilitiesIssuing shares in exchange for assetsAn example of a cash flow statementBelow is an example of a cash flow statement. You can see all the different sections and how the figures are calculated. As you can see, the bottom of the statement shows the total cash flow of the c ompany for the accounting period.Cash Flow StatementBusiness ABCFinancial Year ended 31 December 2014Figures in USDCash Flow from OperationsNet EarningsAdditions to CashDepreciationDecrease in Accounts ReceivableIncrease in Accounts ReceivableIncrease in Taxes PayableSubtractions from CashIncrease in InventoryNet Cash from Operations3,000,00025,00020,00015,0003,000(40,000)3,023,000Cash Flow from InvestingEquipment(450,000)Cash Flow from FinancingNotes payable15,000Cash Flow for Financial Year2,588,000The above example statement shows you the company’s total cash flow, as well as where majority of the liquidity came from.Naturally, not all cash flow statements show a positive cash flow. But it is important to remember that a negative cash flow doesn’t necessarily mean the business is failing. Sometimes a negative cash flow is part of a company’s decision to heavily invest in new inventory, for example, which might increase the cash flow the following year. Therefore, as mention ed, you need to use a cash flow statement as part of your financial analysis, but not rely solely on it.Overall, you also want to compare your cash flows from different periods. While a single negative cash flow statement might not signal trouble, if your cash flow is constantly on the negative, your business is clearly having liquidity problems. It usually means the business is having difficulties paying debt and relies too much on credit.You should also consider calculating the operating cash flow ratio based on your cash flow statement. This will help you understand the business entity’s ability to service its loans and interest payments. You can calculate the ratio by comparing the total amount of cash generated to the company’s total outstanding debt.DIFFERENCES IN PREPARATION METHODSThe above section dealt with the structure of the cash flow statements, but there are different ways of preparing the actual statement. The two most common methods include the direct and the in direct method.The difference between the two preparation methods deals only with the operations part of the cash flow statement. While there often aren’t any rules regarding which method companies should use, the direct method is often suggested as the better option.Direct methodAs mentioned, the direct method is often the recommended preparation style. It is also referred to as the income statement method.The direct method separates the operating cash receipts and payments into major classes. It first outlines the money received and moves on to subtract any money spent. This provides the net cash flow.The direct method doesn’t include depreciation into its calculations. This is because, while being an expense that affects net profit, it is not money spent or received by the entity.Indirect methodThe indirect method is often called the reconciliation method. Unlike the direct method, it focuses on looking at the net income and net cash flow from operations.The method starts with net income and then adds back depreciation, while calculating changes in the balance sheet. In the end, the result is the same net cash flow produced by the direct method, the way it receives it just differs slightly.The reason indirect method adds depreciation into the mix is on the way the net cash flow is calculated. Since it starts with net profits, which doesn’t include depreciation as it is considered an expense, it wants to include it later. In our example above we used the indirect method.As mentioned already, regardless of the method the net cash flow from operations should be the same in both methods.It is possible to find readymade charts for both of these methods online. These charts can be a great help in getting to grips with your cash flow statements. For instance, the US Small Business Administration provides a free cash flow worksheet for business owners to use, and other such worksheet can be found elsewhere. You can also use the above example as a basis for you r cash flow statement.You can also find out more about the two different methods from the below YouTube video: CONCLUSIONFor a business entity, the use of a cash flow statement is a crucial part of predicting future liquidity. It is therefore, an essential part of budgeting and any business owner should regularly use an up-to-date statement as part of its financial planning strategy.A cash flow statement will reflect the entity’s financial health and therefore, it isn’t just crucial for business owners but for investors as well. While the statement tells a lot about the company’s cash flow, in terms of where the cash is coming from and where it is going, business owners and investors cannot see everything from the cash flow statement. In order to get a proper, wide-ranging look into the entity’s financial health, a cash flow statement should be used together with statements such as a balance sheet and an income statement.

John Broadus Watson An Experimental Study On The...

John Broadus Watson, the father of Behaviorism, was born in South Carolina on January 9, 1878 to Emma and Pickens Watson. John grew up in a mixed up household, his father was a known drinker while his mother was a devout Christian. Although he took after his father and got himself into some trouble growing up, he managed to gain admission to Furman College at age sixteen. Upon graduation from Furman, one of John’s professors turned mentor Gordon Moore helped him make the next step, and the following year he enrolled in the University of Chicago’s graduate program. While at Chicago he majored in psychology, under the supervision of James Rowland Angell, and minored in both neurology and philosophy. It was there that he became interested in the field of comparative psychology and studying animals. His dissertation Animal Education: An Experimental Study on the Psychical Development of the White Rat, Correlated with the Growth of its Nervous System was accepted in 1903, and described the psychological and neurological development of the white rat, earning him his doctorate. John chose to stay in Chicago as a teacher, and quickly fell for one of his students. His fraternization caused him a lot of trouble, so to avoid more problems with the faculty and the possibility of losing his position altogether, he chose to leave on his own, later becoming a professor of psychology at Johns Hopkins University. Soon after arriving at Hopkins John Watson was made departmentShow MoreRelatedJohn Broadus Watson : The Son Of Emma And Pickens Watson1007 Words   |  5 PagesJohn Broadus Watson was born near Greenville, South Carolina on January 9, 1878. He was the son of Emma and Pickens Watson. In the year 1891, John and the rest of his family was left behind by his father, complicating everything. Given the situations that his family was very poor, everything then became different for them. Since his father left his family, Watson held a long-life resentment towards him. He had hatred told his father for a long time for abandoning him. As a young child, John Broadus

The Process of Criminal Profiling as it Pertains to Serial...

The process of criminal profiling as it pertains to serial killers is extremely interesting and much more common than one would first think. This study deals with the research into the developmental and psychological approaches to serial killers. In the process of studying these offenders, researchers have discovered that crime scene manifestations of behavioral patterns enabled the investigators to discover much about the offender (Jones The Process of Criminal Profiling When Applied To A Serial Killer 1). Most crime scenes can tell long detailed stories, and with the right investigators following every detail within that story, the positive chance of finding a conclusion to that story is not always there. Investigators must always keep†¦show more content†¦Profiling can piece together such a complete picture of the offender with traits of the offender’s including sex, age, occupation, disorders, upbringing, marital status, home, type of car they drive, etc (Forensic Psychology 2). Before the term serial killer was coined in the mid-1970’s, such murders were referred to as stranger murders. The term stranger murders was used to differentiate the victims of serial killings from the victims who were killed by people he or she knew, usually family members. The great killers of history had been ones who had killed their wives, or possibly massacred their family members one by one. For most people, the idea and the emotional components of intrafamilial violence could seem somewhat understandable. At one time or another, most people processed the thought of raising an angry hand at a child or spouse, and could even comprehend how, in a fit of rage, such an emotion could escalate to murder. In contrast, the emotional components of a stranger murder seemed unreasonable and incomprehensible to people (Ressler and Shachtman I Have Lived In The Monster 46). There are three possible manifestations of offender behavior at a crime scene—modus operandi, personation or signature, and staging. Each of these manifestations plays an important role of analyzing a crime scene in terms of human behavior (Douglas and Munn 1). Modus operandi is the offender’s actions while committing the crime, and the victimology.Show MoreRelatedWhy the People Are Interested in Serial Killers Essays1218 Words   |  5 PagesSerial Killers Serial killers have struck fear in the hearts of people, yet the public remains fascinated and intrigued by the crimes perpetrated by these individuals. There are several theories and factors that have been attributed to serial killers in an attempt to explain their behaviors. Furthermore, by indentifying the behaviors that are exhibited by serial killers, law enforcement professionals are able to gather information about these serial killers that will assist in the apprehension ofRead MoreManagement Course: Mba−10 General Management215330 Words   |  862 Pagesfor Business Growth in a Demanding Economy 1 1 Text Jones−George †¢ Contemporary Management, Fourth Edition I. Management 17 17 2. The Evolution of Management Thought Hughes−Ginnett−Curphy †¢ Leadership, Fifth Edition I. Leadership is a Process, Not a Position 51 51 70 1. Leadership is Everyone’s Business 2. Interaction between the Leader, the Followers the Situation Cohen †¢ Effective Behavior in Organizations, Seventh Edition 11. Leadership: Exerting Influence and Power 94 94

Market Free Essays

The product as the first p something that is taken to the market to be noticed, sold, applied, or consumed; which is possible to satisfy a need or desire. Product can be a physical object, service, location, organization, or even an Idea or thought (Mob All et al, 1385: 195). The ultimate goal of organizations Is to produce the products which are better and superior In one or more aspects compared with others to be welcomed by customers and make them to pay well for each product (Cutler, 179:1379). We will write a custom essay sample on Market or any similar topic only for you Order Now Vaginal in an article with the title of McDonald: the globalization thought y using marketing mix states that in marketing mix, McDonald has offered its product by creating a standard procedure that is the same in all parts of the world, according to the tastes and traditions of different countries and their laws. For instance, Big Mac is served without cheese in Israel, or it is served in Indian McDonald’s restaurants with specific types of vegetables and lamb meat. And also the limitations which are imposed by various religions are considered (vaginal, 2001 : 99). 1. Brand The name and logo of a product is an Important component of goods in consumers’ sews, and the brand name adds value to every goods. For example, consumers consider a bottle of cologne with famous brand name, as an expensive and high- quality merchandise. But If this bottle lacks any Indication of the brand, even If the flavor is similar, shall be considered as low quality merchandise. The brand diff erentiates the goods and services that are offered by competitors. A good brand makes the consumer loyal. A research showed that among the present dish washing liquids, the housewives are the most loyal to Gold,Jam, and Risk. These three groups f customers buy their desired dish washing liquid regularly. The interesting point was that all customers have considered the same characteristics for a good dish washing liquid (e. G. Cleaning power, concentration, high foam, etc). But it was believed that only the dish washing liquid that is bought by them (In other words, they are loyal to) has all those qualities. In other words, those who bought Goal dish washing liquid believed that Goal has all the qualities of a good product, and those who bought Jam, thought that Jam Is better than other dish washing liquids Assimilate, 185:1381). According to the arguments presented, the value of brand name can lead to a product’s reputation and induction of high quality product to its customers, make a very strong image in the minds of customers, and become one of the major assets of a company. 1. 2. Packaging There is 8000 years statistics about packing in which packaging has been used as the containers were made of clay and glaze rough mats in Mesopotamia and Egypt. The customers identify a product through its packaging. Package transfers the producer’s assuage to the buyer and communicates and exchanges Information between them. The packaging gives Identity to the product, and protects the protect against Impact, moisture, climatic conditions, odors, fumes, vibration, microorganisms, pressure, collapse and Insects (spearheaded, 1384: 13). Also the packaging protects the goods, makes adolescently, beauty, product safety, easier storage of goods and products (Smiles Pour, 192:1381). If the package is done in a great way, it gains interest to Pricing, is the monetary value of goods and services or the amount of benefit that nonusers particularly pay for the benefits of having or using the product or service. Pricing simply means determining the price for the product or service (Ecological et al. , 1385: 1). Vaginal states that McDonald’s in price marketing mix used different strategies for pricing in different countries. For example, it used strategies such as cost based on the target strategy, the ultimate cost plus a percentage of profit, or prestigious pricing. For example, a Big Mac in the United States is equivalent to 14 minutes work of a worker a day, but in a country like Nigeria it is equivalent to several hours of work (2001: 101 vaginal). Types of pricing methods in dealing with competitors The competitors may price their products in four ways: 1 . Pricing based on cooperation: the price is determined by cooperation and consensus with partners. This situation occurs mostly in competitive oligopolies markets. 2. Adaptive pricing: market leader and main shareholders determine the price, and the others price their products according to them. Opportunistic pricing: n some markets, when a supplier increases the price for its products, a rival that has good resources might not change the price of its product. Sometimes, in the case of the increase in prices by a producer, the rival increases the prices, but tries to offer more services to attract part of customers of the company which first increased prices. This method is called opportunistic pricing. 4. Punitive pricing: some suppliers who are able and good facilities, in order to eliminate smaller competitors, lower prices for their products. Sometimes this method will result in removal of small suppliers from the market (Flask, 1386: 169). According to the arguments presented, the pricing strategy of a product, when the product is part of a group of products, has different characteristics. In this case, the organization considers overall prices of one group in order to maximize profits. The firms, after codifying pricing strategy, are faced with conditions in which they are compelled to reduce or increase prices, and marketers need to respond to the change in pricing strategies and develop other strategies. How to cite Market, Papers

The Caged Wonder free essay sample

At first glance, yes, I am quite ordinary. Never have I written a New York Times best selling novel, nor have I visited the wet tropical rainforests of the Amazons and discovered an important botanical element for scientific study. As much as I would like to learn about radiochemistry, I probably never will and chances are I am never going to win the Florida lottery. However, I can proudly say that I am going to be successful. Ever since the age of three I had gone to a pristine private school. My agenda was composed of the most exhilarting, mindbottling events that a teenager could experience in his short time as a youthful free spirit. I would wake up, spend seven extraordinary hours at school, get home, go to bed and wake up the next day to experience the lively escapade all over again. Thats not all. I also take the first place trophy for the most convivial and engaging Friday. We will write a custom essay sample on The Caged Wonder or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page I can see it now. The contender for the most amazing Friday night goes to Movie-night with the parents! Consequently, it was mentioned to me a plethora of times by my acquaintances that I had lived a life of confinement. My favorite comment included the misconception that I had it worst off than that bubble boy. Was I really worst off than some guy who had suffered from a severe combined immunoficiency disease? Maybe so. Always that weird girl or that loner, I was often labeled as socially inept or more simply put, friendless. Although I do admit to my quiescent nature, I knew there was more for me than this world of just getting by. The death of my grandmother due to lung cancer left much financial burden on my family and I. Yet, this unfortunate series of events can be viewed as a play on fate by my dear friend serendipity. No longer was I able to attend my high school which I had been attending for 10 years, nor was I to be confined in that indestructable bubble composed of carbon-copied identities and dependency on others in everything I would do. No longer able to recieve care from my grandmother, my twin sister and I were subject to spend our summers since the age of 13 volunteering at Mercy Hospital where my mother would painstakingly work seven days a week to simply give us the best life we could possibly have. As part of the volunteer program, I have been assigned to several different departments. With the new skills I acquired through contact with the patients, I was able to assist them and further help them engage into physical activity. That first gracious thank you I recieved made me overlook that wallflower persona I had so long attributed to myself. Through my hard work and long coffee breaks, I was able to receive knowledge of the workplace as well as insight into many different career options, which has made the choice I want to pursue clearer. Being a MERCY Hospital volunteer has taught me to become more independent, responsible, and dedicated, all skills which are important in any career. Likewise, I was auspic ious enough to work with others, which helped my communication skillssomething i desperately needed and very essential in the journalism field. So maybe I havent become an astronaut or the next American Idol. But whose to say I wont make an excellent contribution to the University of Florida?