The Senior Year Of Basketball Success - 935 Words

I walked off the floor with sweat dripping from my hair. So many thoughts flew through my head that I couldn’t focus on anything. My junior year of basketball felt like it ended as quickly as a blink. It was as if in seconds we went from the stars of the state tournament to the embarrassments of it. I tried to forget the disappointment of it but it still will not leave. My desire and love to win games comes from the more apparent hatred of losing them. Junior year we had a chance to win a state championship, but we lost that chance. That was when I realized that I had one chance left to win. Senior year our basketball success would only be as rewarding as we would make it. The pressure placed on ourselves was substantial, and we faced trials on the road to success. In the end, we stood alone, crowned as the champions, not letting our chance slip away. I walked onto the court for warmups and the routine shots and drills performed seemed pointless. Our opponents did not have a single player that was closer than 3 inches to my height so I expected to have a successful game. We all believed that we would win the game, and most probably expected to dominate. We were hit by a rude awakening as our opponents torched the nets shooting the ball, and we uncharacteristically made mistake after mistake. By then end of the quarter, the scoreboard read 23 to 9 and we were not the happy leaders. Our coaches told us, â€Å"Stay positive, and play hard. We will be ok in this game if we playShow MoreRelated Exemplification Essay: The Dead-end of Professional Sports1104 Words   |  5 Pages In 1995 Scotty Thurman was on top of the world. Thurman led the Arkansas Razorbacks to a NCAA basketball championship with one great performance after another. After this miracle season, Thurman made a decision that would change his fortunes. Rather than come back for his senior year and get his degree, he elected to make himself eligible for the NBA draft. 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She told him they were going to the movies, but they went to a dissimilar South Side neighborhood in which Wade stayed with his father. The move guided him away from the perilous area he had lived with his mother. When Wades father moved to Robbins, Illinois, Wades new atmosphere allowed him to play basketball with his stepbrothers, new friends, and fat herRead MoreMichael Jordan And The Basketball Team1186 Words   |  5 Pagesand became avidly involved in a multitude of extracurricular activities such as baseball, football and basketball. However after being cut from the varsity basketball team as a sophomore (as he was deemed too short at 5 11 to play guard) Jordan became immensely frustrated with his failure to join the team, as a result Jordan was strongly motivated and determined to prove his worth to the basketball team as he worked rigorously over the summer to prepare for next year’s try outs. Incredibly he would

Should Government Support Higher Education For Students...

Higher Education Should government support higher education for students who attend college? The opportunity to gain a college education helps advance the American ideals of progress and equality which is one great reason that the government should support higher education for students who attend college. The precedent for direct aid to students; however, was set by the 1944 G.I. Bill, and expanded in the National Defense Education Act of 1958. Moreover; the Higher Education Act of 1965, which formed the basis for the current federal student aid system, embodied the principle that all qualified students should be able to attend college, regardless of their financial means (Nisar, 2015). Another; great benefit government should consider when supporting such policy for higher education is that a college education benefits not only the individual, but the country and economy as a whole. A highly educated work force is an essential component of economic growth and competitiveness; in fact, it is estimated that increases in national educational attainment have accounted for almost 30% of the growth in national income in the 20th century. Additionally; because those with a higher education earns more, they can also save more, have less unemployment and makes fewer demands on the public purse while paying more taxes. When the government helps students attend college, it invests in our nation’s future and ensures that students are prepared with the skills to perform the jobs of theShow MoreRelatedFederal Student Aid s Primary Goal932 Words   |  4 PagesThe U.S. government has created a new strategy to make colleges more affordable for low income students. Federal student aid’s primary goal is to help as many students attend college as possible. Financial aid and Pell Grants help low income students who meet certain academic criteria cover the costs of tuition. 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The main reason for them to choose community colleges over four-year universities is the affordable tuition, or they have undecided majors for their careers. Unfortunately, an academic article published in 2014 â€Å"How to Help College Students Graduate,† Kirp demonstrated, â€Å"American students are enrolling college in record numbers, but they areRead MoreThe Argument On The Left1378 Words   |  6 Pagesincreasing amount of individuals have begun to choose to attend college in the hopes of achieving prestigious positions in the white-collar industry. Unfortunately, however, one’s decision to further their education at post-secondary school can have one rather drastic unforeseen consequence: thousands of dollars’ worth of debt. As a result of this growing â€Å"epidemic† plaguing college students around the nation, rallying cries for free higher ed ucation have begun to spring up throughout the country. But

Accounting for Managers Globalization and Economy

Question: Describe about the Accounting for Managers for Globalization and Economy. Answer: Problem 1 Faster processes and reduced process times to help companies to be more competitive Globalization in the economy requires the formulation of new technologies for production process of the companies with respect to the faster and accurate production of goods and services. With the continuous increase in the market competition, it is essential for the companies to improve the process time in the areas of engineering and administration. Business Process re- engineering is a procedures adopted by many organizations in the recent times to improve the business activities (Polyvyanyy, Smirnov and Weske 2015). It involves the structural change in the areas of technology and manufacturing areas considering the locations and products of the companies. Business Process re- engineering is a process in which fundamental rethinking and radical redesign of business process is conducted to improve the speed of the production of goods by maintaining the quality. The process requires the preparation of structures as per the measured set of activities in the areas of engineering, admi nistration and information technology by adopting the updates techniques (Koetter and Kochanowski 2015). The process timing in the concerned areas can be reduced by incorporating the updated production techniques in the engineering areas. However, in the administration area the process timing can be reduced by incorporating skilled and experienced personnel to operate the business activities. In order to be more competitive, the companies may incorporate online activities that provide faster and accurate results in the business activities (Mijumbi et al. 2015). Importance of improved quality In order to maintain the competitiveness it is essential to produce the work faster by reducing the process time but at the same time quality of the process should be improved. In the present era, consumers are more concerned about the quality of the products rather than any other factors therefore, the companies are required to maintain and improve the quality in the production process (Weber, Olaru and Marin 2016). For instance, Woolworths Limited, one of the largest companies in Australia is known for best quality products as well as improved organizational structure in terms of supermarket chain. High quality products as well as processes are essential in different areas of the business organizations for production process and administration department. Many companies are working to follow the concept of six- sigma in producing the products that involves the production of products with 99.99% perfection. The improved quality in the production process of the company is essential t o create the trust, reliability, marketability and competitiveness that help in maximization of profits and wealth of the company and its stakeholders (Hambrick, Humphrey and Gupta 2015). iii. Potential problems may arise from the increased speed of processes Increased speed of processes in the business organization influence several factors with respect to the production, management and distribution that may form potential problems. One of the major problems that may arise is maintenance and improvement of quality in the production processes and products. Increase in the speed of the processes may affect the quality of the products while designing, development or manufacturing the products and services. Another potential problem that may arise is maintenance of quantity in case the production process is conducted in batch system (Leung, Parker and Courtis 2015). In case the process speed is increased, it is likely to affect the quantity that is established to be produced under the normal standard set by the management. Further, the increased speed of processes impacts the communication between the executive employees and subordinates that affect the flow of relevant information required for business decisions. Further, the increase in sp eed of process may create the potential problem with respect to finding the root cause in difference of improved production process, administration process and distribution process. Increase in the speed of the processes creates faster production and business activities but at the same time, it creates several problems within the business process that may affect the organizational competitiveness (Georgieva 2015). Problem 2 In the present situation, operations of XYZ Ltd having two branches in Brisbane and Adelaide represented changes in the financial statements. The operational result in the Brisbane branch reflected increase in net profit as well as the balance of finished goods inventory. On the contrary, Adelaide branch reflected no net profit but the balance of finished goods inventory disclosed reduction. It can be analyzed that the reduction in the balance of inventory results in reduction in cost of goods sold whereas the increase in inventory results in lowering the net income before tax (Cheng, Harford and Zhang 2015). However, in case of income of Brisbane factory, net profit reflected increased balance even though the finished goods inventory increased. It can be said that the business operations of Brisbane factory was more efficient than the operations in Adelaide factory since it did not reflect any net profit even the inventory showed a reduced balance. Considering the financial result and efficiency of business operation, the managerial bonus was offered to the manager of Brisbane factory and not to the manager of Adelaide factory. Though the offer of managerial bonus was justified, it creates conflicts if it is provided only on the basis of the net profit generated by the company. One of the major conflicts that may arise is long- term risks if the bonus is offered only on the generation of net income since generation of net profit depends on several factors. Additionally, conflicts on the motivation of manager will be affected since the reduction in the finished goods inventory affects reduction in cost of goods sold whereas increase in inventory results in increase of cost of sales. Another conflict that arises on managerial bonus based on the net profit affects the harmonization of diverse interest for the performance of business activities (Lin and Wu 2015). Problem 3 Material variances in a manufacturing company indicate the effectiveness and efficiency of production cost and units. It is measured by using the actual cost and units employed by the company in comparison with the standard set by the management. Favorable material variances indicate the efficient use of raw materials and cost in the process of production of goods and services (Capolei et al. 2015). On the other hand, unfavorable material variance indicates the actual use of units and cost more than the standard units and costs. Similarly, Labor variances indicate the efficiency of labor hours or man- power in production of goods and services by comparing the actual data and standard data. Favorable labor variance indicates that the laborers are efficient in producing the products in less than the standard time set by the company (Taylor 2016). Analysis of production costs and variances for a particular period provides essential information to the management for producing goods and services. It indicates the overall changes in the level of market price, information on the use of quality of the products as per the standard data procured by the management. Production costs and variances provide better negotiation in price to procure the employees or workers for manufacturing process along with the implementation of purchase discounts. It also provides the information on the bargaining power of suppliers, procurement of skilled and unskilled workers at minimum wage rate. Variances and production costs also provides information on the potential profit that the company expects to earn in the given period (Wang and Chan 2015). Problem 4 Variable cost per unit Variable cost per unit is determined by considering the total variable expense in the production process divided by the total units produced or sold. Accordingly, computation of variable cost per unit for the budget A and budget B in the books of Always Right, manufacturing company: Particulars Budget A Budget A Sales Units 20,000.00 30,000.00 Variable Expenses $: Direct materials 260,000.00 360,000.00 Direct Labor 40,000.00 60,000.00 Variable Overhead 60,000.00 75,000.00 Variable selling and administrative expense 60,000.00 60,000.00 Total variable expenses 420,000.00 555,000.00 Variable cost per unit: (Total variable cost/ total sales units) $21.00 $18.50 Table 1: Variable cost per unit (Sources: Created by author) Analysis of costs and sales forecast in the budget A It is mentioned that the lower and middle management presented the budget A while the senior management presented the budget B presenting the sales forecasts by considering 20,000 units and 30,000 units respectively. Since the budget A has been prepared by the lower and middle management, it can be said that it has been prepared with the conservative or bottom- up approach. On the contrary, senior management prepared budget B hence it was carried on by considering the higher amount of sales and lower amount of costs. Another reason could be lack of awareness about the complete information on costs incurred in the production of products (Azzimonti, Battaglini and Coate 2016). iii. Analysis of costs and sales forecast in the budget B Budget B has been prepared by considering the top- down approach, which is prepared for the organization as a whole including the management at lower level. Hence, the sales forecasts taken to prepare the budget B are higher than that of budget A while the fixed cost is lower. Fixed costs in the business activities does not change with the change in production quantity and if it is considered for the entire organization then the proportionate fixed costs reflects a declined value (Delgado, Falcn and Ramrez 2016). Therefore, in case of budget B, the total cost is lower and the sales is higher therefore net profit is also higher for the entire organization. Further, the behavioral implications of the top- down approach are dysfunctional behavior, systematic planning, co- ordination and communication behavior. Top down approach provides the implication on the culture, processes and structural changes concerning the employees of the organization that improves the business activities. Consensus on the budget and advantages of the approach In the present situation, budget A has been prepared by using the bottom- up approach whereas the budget B has been prepared by using top down approach. In order to come to a consensus on the budget the higher management and lower level management teams are required to prepare a detailed schedule on the production and administration costs. Both the groups are required to identify the business activities and related cost pools along with the cost drivers that reflects the accurate results (Azzimonti, Battaglini and Coate 2016). Further, both the groups are required to forecast the sales by considering the market structure, consumer preferences as well as the organizational brand name. Considering the consensus on the budget, it provides several benefits with respect to the inclusion and participation of the groups. It empowers and increases the co- operation between the groups involved in preparation of the budget for the production processes. The budgeting approach establishes the understanding and equalizes the group power that assist in making better business decisions (Delgado, Falcn and Ramrez 2016). Reference List Azzimonti, M., Battaglini, M. and Coate, S., 2016. The costs and benefits of balanced budget rules: Lessons from a political economy model of fiscal policy.Journal of Public Economics,136, pp.45-61. Capolei, A., Suwartadi, E., Foss, B. and Jrgensen, J.B., 2015. A meanvariance objective for robust production optimization in uncertain geological scenarios.Journal of Petroleum Science and Engineering,125, pp.23-37. Cheng, Y., Harford, J. and Zhang, T.T., 2015. Bonus-driven repurchases.Journal of Financial and Quantitative Analysis,50(03), pp.447-475. Delgado, M.V.M., Falcn, R. and Ramrez, A., 2016. Estimating building construction costs: analysis of the process-based budget model (POP Model).Revista Ingeniera de Construccin,31(1), pp.17-25. Georgieva, D., 2015. Internal Corporate Governance: The Role of Residual Income in Divisional Allocation of Funds. InInternational Corporate Governance(pp. 165-206). Emerald Group Publishing Limited. Hambrick, D.C., Humphrey, S.E. and Gupta, A., 2015. Structural interdependence within top management teams: A key moderator of upper echelons predictions.Strategic Management Journal,36(3), pp.449-461. Koetter, F. and Kochanowski, M., 2015. A model-driven approach for event-based business process monitoring.Information Systems and e-Business Management,13(1), pp.5-36. Leung, S., Parker, L. and Courtis, J., 2015. Impression management through minimal narrative disclosure in annual reports.The British Accounting Review,47(3), pp.275-289. Lin, M. and Wu, R., 2015. Production cost heterogeneity in the circular city model.Operations Research Letters,43(4), pp.401-404. Mijumbi, R., Serrat, J., Gorricho, J.L., Bouten, N., De Turck, F. and Boutaba, R., 2015. Network function virtualization: State-of-the-art and research challenges.IEEE Communications Surveys Tutorials,18(1), pp.236-262. Polyvyanyy, A., Smirnov, S. and Weske, M., 2015. Business process model abstraction. InHandbook on Business Process Management 1(pp. 147-165). Springer Berlin Heidelberg. Taylor, J., 2016. Carbide cutting tool variance and breakage: unknown factors in machining economics.Advances in Machine Tool Design and Research, pp.487-504. Wang, Z. and Chan, F.T., 2015. A robust replenishment and production control policy for a single-stage production/inventory system with inventory inaccuracy.IEEE Transactions on Systems, Man, and Cybernetics: Systems,45(2), pp.326-337. Weber, G.J., Olaru, M. and Marin, G., 2016. Study regarding the correlation between the changes in the energy economy and the competitiveness of companies in Germany and Romania. InChallenges, Performances and Tendencies in Organisation Management(pp. 341-347). World Scientific.

Solutions to Problems Essay Example

Solutions to Problems Paper When borrowing a constant proportion of the market value of the project, the interest tax shields are as uncertain as the value of the reject, and therefore must be discounted at the projects opportunity cost of capital. 18. Opportunity cost of capital Suppose the project described in Problem 17 is to be undertaken by a university, Funds for the project will be withdrawn from the universities endowment, which is invested in a widely diversified portfolio of stocks and bonds. However, the university can also borrow at The university is tax exempt. The university treasurer proposes to finance the project by issuing $400,000 of perpetual bonds at 7% and by selling $600,000 worth of common stocks from the endowment. The expected return on the common stocks is 10%. He therefore proposes to evaluate the project by discounting at a weighted-average cost of capital, calculated as: Whats right or wrong With the treasurers approach? Should the university invest? Should it borrow? Would the projects value to the university change if the treasurer financed the project entirely by selling common stocks from the endowment? The immediate source of funds (i. E. , both the proportion borrowed and the expected return on the stocks sold) is irrelevant. The project would not be any ore valuable fifth university sold stocks offering a lower return. If borrowing is a zero-NP activity for a tax-exempt university, then base-case NP equals APP, and the adjusted cost of capital r* equals the opportunity cost of capital with all-equity financing. Here, base-case NP is negative; the university should not invest. We will write a custom essay sample on Solutions to Problems specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Solutions to Problems specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Solutions to Problems specifically for you FOR ONLY $16.38 $13.9/page Hire Writer 1 Issue cost and APP The Bunsen Chemical Company is currently at its target debt ratio of 40%. It is contemplating a $1 million expansion of its existing business. This expansion is expected to produce a cash inflow of $130,000 a year n perpetuity. The company is uncertain whether to undertake this expansion and how to finance it. The two options are a $1 million issue of common stock or a $1 million issue of 20-year debt. The flotation costs of a stock issue would be around 5% of the amount raised, and the flotation costs Of a debt issue would be around 139%. Bunges financial manager, Ms. Poly Ethylene, estimates that the required return on the companys equity is 14%, but she argues that the flotation costs increase the cost Of new equity to 19%. On this basis, the project does not appear viable. On the other hand, she points out that the company can raise new debt on a 7% yield, which would make the cost of new debt She therefore recommends that Bunsen should go ahead with the project and finance it with an issue of long-term debt. Is Ms. Ethylene right? How would you evaluate the project? Note the following: The costs of debt and equity are not and 19%, respectively, These figures assume the issue costs are paid every year, not just at issue. The tact that Bunsen can finance the entire cost of the project with debt is irrelevant. The cost of capital does not depend on the immediate source offends; what matters is he projects contribution to the firms overall borrowing power, The project is expected to support debt in perpetuity.