Technology Integration In Learning Essay Example for Free

Technology Integration In Learning Essay There is almost no place that you can go where technology hasn’t been used. Technology affects our daily lives in everything that we do; it saves time, creates a world of endless learning, and makes traveling to halfway around the world effortless. Technology greatly reduces the time it takes to perform lives everyday tasks. Daily chores such as mowing the grass or doing the dishes have been reduced from hours to twenty minutes with the invention of the automatic dishwasher and gas powered lawn mower. New technologies have even eliminated the time it takes to read books when you can download the audio book off of iTunes to listen to on your iPod. In the work place machines have eliminated many of the hand labors of molding parts and assembling products creating a great surplus of extra hours to finish other works and increasing production. Technology also helps student in their studies. In an article published by Technology and Learning magazine, interviews were conducted with some leading research experts on how they felt about technologys impact on education. The first way that technology can benefit students is that it can accelerate, enrich and deepen basic skills. Under the right conditions, students learn faster with more depth of understanding using technology (Salpeter, 1999). Students who use the technology for real communication with a real audience are much more capable of talking to adults because they are getting used to ittechnology facilitates cooperative learning, encourages new roles for learners and the ability to work independently. said Judy Salpeter , who is the editor of the Technology and Learning magazine. The impact of technology on society is deep. It is both positive and negative. Technology has largely influenced every aspect of living. It has made life easy, but so easy that it may lose its charm one day. One can cherish an accomplishment only if it comes after effort. But everything has become so easily available due to technology that it has lost its value. There is a certain kind of enjoyment in achieving things after striving for them. STATEMENT OF THE PROBLEM This research generally aimed to analyze the importance of technology in learning. Specifically, it sought to answer the following questions: 1. What are the effects of technology in our lives? What are the negative effects of technology in our lives? How does the technology effects our environment? How does the technology effects the process of learning? SCOPE AND DELIMITATION OF THE STUDY This study consists of the importance of technology in our lives, in our studies and the effects of this.

Richard Florida Critique Essay Example for Free

Richard Florida Critique Essay Brenda Parker’s article emphazises a critique of Richard Florida’s Creative Class discourse. Florida’s theory is centred on the belief that human knowledge is the main requirement in order for cities to be successful in modern society. He argues that diversity and creativity are the drivers of innovation and regional and national growth (Florida, 2003, p.3). Parker’s argues that Florida overlooks several aspects in this theory particularly labor market segmentation as it relates to race and gender. â€Å"I suggest that the Creative Class discourse forwards a seemingly soft, contemporary version of hegemonic masculinity. † (Parker, 2008, p. 202). The main goal of the article argues that the Creative Class traditional characteristics facilitate unequal gender and racial relations. She highlights the women minorities and wage inequalities in many ‘creative careers’ as well as the tensions among care giving and work (Parker, 2008, p.203). She argues that Florida’s theory allow men to thrive in society through the â€Å"creative professional† aspect, while women are undervalued. She highlights the inequality between work and home and ‘creative’ and ‘service’ work. According to Parker, Florida’s creative discourse attracts an elite population which reproduces such gender and racial relations (Parker, 2008, p.222). Critical Analysis Richard Florida developed a theory based on a Creative Class.† His theory relates to many creative cities in the world today. Is this a perfectly constructed theory that defines modern day society? The answer to that is no because it fails to account for many important aspects of inequality that exists in today’s society. Brenda Parker’s article argues that Florida overlooks important issues of race and gender in his theory of the creative class. Parker argues that Florida’s simplified theory reproduces raced and gender inequalities in the city (Parker, 2008, p.204). At first glance, Florida’s theory creates a positive image to the reader. It appears to be a relevant theory to successful global cities in modern day society. There is  a creative core and a super creative core in which diversity is claimed to be important (Parker, 2008, p.203). These creative and knowledge people are perceived as having the potential to change cities into successful ones as they are drivers of economic growth. Parker dissects this theory and illustrates how this simplistic view requires further analysis on issues of race and gender. The article provides a detailed analysis of labour segmentation in creative cities. It mainly highlights the intersection of gender and race as it relates to the distribution of jobs in the ‘creative class’ society. The dominance of a masculine figure is prevalent in Florida’s theory. According to Parker, women face significant barriers to entry, remain marginalized and operate within a society centred on masculine norms (Parker, 2008, p.203). The idea is that a creative worker is required to work long hours in order to be successful while sacrificing family life. Florida ignores the workers who aim to maintain a work life balance and maintain a family. He overlooks the fact that not every individual has the same values and beliefs. The â€Å"second shift† of women is often referred to as care work. It is clear that Florida devalues the importance of this job. â€Å"Households and social reproduction are not presented as sites of creativity or as placed wh ere social relations and identity negotiations take place.† (Parker, 2008, p.210). Florida segregates the workforce and narrows the meaning of a creative professional worker. There seems to be no opportunity for success for women who value family life. A high percentage of the women who do work are in the lower paying service class jobs. The issue of race is also an important factor which explains the labour market segmentation. As Parker (2008, p.216) explains in her statistical research, the poverty rates for black households are higher in creative cities and there is a large gap between the earnings of white and black households. Despite the desire to drive economic growth with creative workers, Florida fails to address the continuous problem of racism in the labour market. The perception that his theory encourages diversity is therefore questionable. The social construction of employment skills as it relates to gender and race are highlighted in Parker’s article. â€Å"A normative, northern, elite, white male is most unambiguously at the heart of Florid a’s idealized Creative Class.† (Parker, 2008, p.208). The creative class promotes job skills that are based on a typical masculine figure. Masculine norms based  on long hours of working as well as the hard, demanding nature of work dominates the best jobs in these cities (Parker, 2008, p.209). Therefore, it is evident that the successful jobs are dominated by men while the care work performed by women receives no recognition. As Parker (2008, p.225) states, the creative class erases reproductive and caring activities, labelling them as uncreative, and spatializing them apart from production and consumption. Many of the employed women in today’s society are in underpaid, service class jobs with little opportunity for advancement. In global cities, resident workers are women of colour, native and immigrant status (Ehrenreich Hochschild, 2002, p.258). This is also evident in Parker’s article as statistics show the unequal earnings between female minorities as compared to male. Even though the gap seems narrower than in previous years, it is still significant enough and needs to be addressed. As resources are shifted from services such as education and health care, women and families suffer negatively (Nagar et al., 2002). This shift results in an increase in poverty for these women among other consequences. Many women have shifted to subsistence food production, informal work, emigration, and prostitution (Ehrenreich Hochschild, 2002, p.266). One of the major problems arising from this is illegal trafficking in cities. â€Å"Prostitution and migrant labour are increasingly popular ways to make a living.† (Ehrenreich Hochschild, 2002, p.265). Women are exploited in such industries by illegal gangs and government institutions that promote these activities as a major source of revenue. Despite several strong arguments presented by Parker, there are a few weaknesses. Parker emphasises inequality in the creative class mainly through women inequality. With the exception of a few minor arguments, she fails to signify how racial inequality is also a major problem. The main argument for racial inequality is the statistical representation of the super creative core. Labour segmentation involves more than simply gender inequality and Parker fails to address this. Conclusion It is clear that Florida’s creative class theory needs to be reassessed. The labour segmentation aspects such as racial and gender inequality is an evident problem that exists within the theory. The significant disadvantage and devaluation women face in the workforce in comparison to men requires further analysis. The attempt to encourage diversity in creative cities is  not enough to solve the inequality problem. An analysis of this paper alerts the reader to be aware of labour segmentation and the social construction of employment as it relates to race and gender bias. It is important to note and understand how these inequalities are still significant in today’s society despite efforts to reduce them. Further research which can encourage and promote creative workers while minimising inequality should be done. The problem will always be evident but if it can be minimised in creative cities, they will be more attractive. Reference Page Ehrenreich, B., Hochschild, A.R., (2002). Global Woman. Parker, B. (2008). Emerald Book Chapter. In J.N. DeSena (Ed.), Research in Urban Sociology, Volume 9 (pp.201-232). Sassen, S. (2007). A Sociology of Globalization.

Traditional Banking Versus Online Banking Information Technology Essay

Traditional Banking Versus Online Banking Information Technology Essay Internet banking is a fact of life for many individuals today with a busy lifestyle. Some individuals will have a brick and mortar bank that offers Internet banking in addition to going to the brick and mortar location. Other banks exist only on the Internet that do not have a physical location. Benefits Internet bankings major benefit to account holders is convenience. It allows an account holder to monitor usage of his account and perform basic transactions online for his banking account. Considerations If an individual opens an account at an online-only bank such as ING Direct, access is limited to their account. If the bank account owner can not find a location with Internet access, she will be unable to perform transactions on her banking account. Disadvantages When using an Internet banking account, the account owner may have no face to face interaction with a bank employee if the bank does not have a brick and mortar location. This can make resolving disputes more difficult as the account holder will have to make a phone call and possibly wait on hold, or be forced to send an email. Bonuses There are some Internet banking companies such as ING Direct that will allow a customer to receive a monetary bonus for opening an account with them. The bonus varies based on the promotion the Internet banking company is running at the time. Warning  · Conducting your banking over the Internet can be you at a significant risk of scams and fraud. Make sure when using your internet banking account you are accessing it through a secured network, and never provide your account password to anyone. Online banking versus brick and  mortar Posted on April 9, 2008. Filed under: Banking,Investing and Saving | Online banking is something that no one could have predicted. Now you are able to access your accounts at any time, make payments and see your statements from home without going to the local banking branch. Online-only banks have also sprung up with no actual branches, just a virtual account that promises higher savings rates and a slew of conveniences. For the average person, it would be perfectly acceptable to have both an online banking account and a brick and mortar bank. Online banks generally have the best rates as they strive to cut costs by hiring a limited amount of workers (no tellers needed) and avoiding the costs of buildings, atms etc. The downside is a limited access to money and the inability to go to the bank and talk to a person if you need to. Most online banks will allow you to pay bills online, however, they do not offer easy withdrawals like the thousands of offline brick and mortar banks. Brick and mortar banks are best for people who demand customer service. From the availability of many banking options, fee-free ATMs open 24/7 and the candy at the corner of the banking desk; brick and mortars have it all. They also have many costs that cut into savings rates, and make their lines of credit and loans more expensive. Brick and mortars offer a high level of comfort to customers, ensuring them that their money is right around the corner when they need it, rather than just a digital number on a computer screen. For long term savings, an online bank is the winner hands down. Savings rates at online banks are much higher and the fees are much lower. An online bank is perfect for an emergency fund, or other savings that you do not need on a day to day basis. A brick and mortar savings account will never become obsolete, it is far too convenient, even though the rates are traditionally much lower. Keep just enough in a brick and mortar account to utilize it conveniently, and keep the substantial savings at an online bank to earn more in interest. For most people, two accounts is now the necessity. Traditional Banking Vs Online  Banking Internet banking works in a similar manner to traditional banking, the major difference being the way one is making payments, accessing his account and personal details, and reconciling statements. Rather than visiting the local branch of his bank, the customer uses his computer to complete transactions. Internet and traditional banking have their pros and cons to consider. The choice of online vs. brick-and-mortar banking is often based on ones lifestyle and priorities. As a major advantage of internet banking, the customer can accomplish multiple tasks in the comfort of his home. Efficiency is what makes online banking attractive to customers: they can pay bills, move money between different accounts, check multiple accounts, and much more. Banking is fast and saves customers valuable time. Transactions are completed in seconds and one can print out the receipts for his personal records. The customer may access his account at any given part of the day, even during weekends and holidays. Moreover, the online account may be accessed from any place around the world, provided that internet connection is available. Online bank accounts make banking expedient, convenient, and inexpensive. Many banks charge fewer fees for the online banking services they offer. Furthermore, banks have higher interest rates on savings accounts and certificates of deposit, and offer more financial services and products. Customers dont need to buy envelopes and stamps, run to the post office at the last minute, and risk being late on their payments. Monthly bank statements and bills can be accessed electronically. Finally, online banking employs sophisticated tools that help manage ones money and accounts with ease. Despite increased security measures and the availability of anti-virus and anti-spyware programs, identity theft is still a concern. Other threats associated with online banking include phishing and hacking of online accounts. Time is among the precious commodities, especially for multi-taskers. On the other hand, some people prefer to visit their local bank and interact with the teller in person. Customers can turn to the banks special account representative or even to the bank manager. Clients are physically present when cash is handed over to them and when they place valuable items in their safety deposit boxes. When customers hold their money in banks, they expect to have them available when required. The Federal Deposit Insurance Corporation offers coverage of up to $100.000 if banks cannot cover their clients accounts. Most banks have increased the level of security by installing more surveillance cameras and hiring a larger number of security guards. With traditional banking, customers are better protected against identity theft. However, security is still a concern with traditional banking. While criminals cannot hold a gun to ones personal computer, they can rob a bank the traditional way. Inconvenient locations, fixed schedules, and more limited financial services are some of the disadvantages associated with traditional banking. In contrast to internet banking, customers opting for traditional banking services need to draw money before using it. The FDIC (Federal Deposit Insurance Corporation) pays up to $100,000 of coverage, in case that a bank cannot cover its accounts (both online and traditional). However, protection from identity theft is an aspect of banking that traditional banks take better care of. Disclaimer: This article is provided for educational and informational purposes only and should not be considered a substitute for professional and/or financial advice. The information found in this article is provided AS IS, and all warranties, express or implied, are disclaimed by the author. Top 5 Reasons to Use Online  Banking In recent years online banking has become increasingly popular, and many consumers have benefited from being able to conduct all of their banking transactions online without having to resort to queuing in the local bank or spending time trying to get through automated switchboard in order to speak to someone on the phone. Online banking allows you to run your day to day finances, and manage your bank account, with ease and convenience, and with this method of banking you are always in control. With online banking you get to enjoy convenience, ease, speed, and increased control, which is why so many people now decide to conduct their banking transactions online rather than at a branch. The main reasons many people opt to use online banking are: 1. The ultimate in convenience: When you use online banking you can conduct your transactions from the comfort and privacy of your own home, so you wont have to worry about going out to your local branch, spending time queuing up, and trying to fit your banking commitments into your busy day, which can be particularly difficult for those that work full time. 2. No time constraints: With regular banking you are restricted in terms of when you can contact or call in to the bank in order to conduct transactions, and this can prove difficult for those with busy lifestyles and full time jobs. However, when you opt for online banking you can conduct transactions at any time of the day or night, which means that you can effectively manage your account around the clock. 3. Do everything you need to online: You will find that you are able to conduct pretty much any banking transaction that you can perform by phone or visit to your branch by going online, other than withdrawing and depositing cash. This means that you can effectively control your finances from the privacy of your own home. 4. Increased security: Banks now use very secure software to ensure the safety and security of customers, making it safer than ever to bank online. Just remember never to link to your bank account from an email link, as this could be a false link, and do not save your banking passwords and security details on a shared computer that could give others access. 5. 24 hour access to your account: With online banking you can access your account 24 hours a day, conducting transactions such as making bill payments, checking your balance and statements, setting up or cancelling direct debits and standing orders, and more. Gone are the days when you could only gain access to you bank between the hours of 9.30am and 3.30pm. How brick Mortar Banking Model will become a thing of past- Robin Trehan The reason is that maintaining bank locations is extremely expensive and hurts the bottom line. Each physical branch generates a laundry list of expenses, including rent, insurance, real estate taxes, utilities and employees. ; Attachment FOR IMMEDIATE RELEASE PRLog (Press Release) Sep 01, 2009 How brick    Mortar Banking Model will become a thing of past- Robin Trehan A penny saved is a penny earned. That is why the banking industry needs to continue to shift to an online model for business banking. There is no longer any need for a bank to have several brick and mortar locations in every city. The reason is that maintaining bank locations is extremely expensive and hurts the bottom line. Each physical branch generates a laundry list of expenses, including rent, insurance, real estate taxes, utilities and employees. If the branch is located in a major metropolitan area such as New York, Chicago or Paris, operating it is even more costly. It makes much more sense for the bank to provide only ATMs in metropolitan area and locate its main center of operations in a suburb. Customers can easily and quickly handle their banking business online, at an ATM or even over a mobile phone at any time of the day or night. The technology keeps getting more sophisticated even checks can now be deposited using a picture taken by a cell phone. Even if they are out of the country, customers who bank online can access their accounts at any time with ease. The savings realized by eliminating unnecessary branch locations can be passed on to the banks customers in the form of a higher interest rate. However, there can be some challenges when it comes to moving business banking out of the building and into cyberspace. Like many new ideas and ways of doing business, it will take some time for people to get used to. Banks need to make sure that all their business customers understand how online banking works and why it is a safe option. It can be helpful to point out that online banking is actually in many ways more secure than the traditional model. For example, customers can be quickly notified via email or text if there is unusual account activity or if an account is close to being overdrawn. They can then take appropriate action (a balance transfer, for instance) immediately rather than having to wait to visit a branch. Online banking is truly an idea whose time has come. The internet has come a long way since Tim Berners Lee discovered it under two decades ago. There have been remarkable progress to create value added services from the internet, among them online banking. The capacity to use internet to deliver online banking services is yet to attract due attention from scholars on the impact of online banking on the efficient delivery of services by the bank (Harnando, Nietoa, 2006). The most obvious contribution online banking has brought to the banking industry is the reduction of overheads that would have otherwise been incurred particularly in relation to the staff and advertising and others services like information technology as no special software is needed (wikipedia 2007[online]). The reductions in costs in those areas have undoubtedly added positively to a bank bottom-line. The emerging consensus on the future role of online banking is that it can be used to add value to overall banking services as appertaining service delivery, but onlin e banking has failed to marshal potent force to dislodge physical banks branches. The reason why online banking is yet to dislodge the brick and mortar traditional branches is because risk management on online banking applications have not walked with tandem with other advances in information technology. The imperfections of technology sometimes mean that online banking may not be a perfect substitution for a bank branch, and some functions (such as depositing cash) might still require the need to have physical branches for some foreseeable future.   There are three major ways in which financial institutions exploit the internet (Ramakhrishnan, 2001), or basically online banking means these three things. They can do it for information purposes whereby the bank can disseminate information about its products over the internet. Secondly, online banking can be about communication with a certain identifiable set of people (in this case a customer) about matters of interest to them such as account information. Thirdly and at the highest level, online banking can be transactional, whereby a customer may give the bank a certain mandate to operate the account in a certain way, like to make payments to a third party. This would happen without the customer stepping into the banks hall. Numerous risks abound in online banking, and it is impossible to discuss here them all (Comptroller, 1999). But the main ones are, Credit risk Interest rate risks Foreign exchange risks, Transaction risks, Compliance risks, Reputation risks. Risks arise from events, foreseen and unforeseen, that may have an unfavourable effect on the banks earnings or capital. The risks are not particularly peculiar to online banking, but they become more potentially threatening in online banking. Bank management for online banking system may be ill advised to leave these risks to the IT department to handle. Many of them require the management careful considered exercise of discretion. This may involve the establishment of effective management controls over the online banking risks, for instance accountability and appropriate policy directives for containment of these risks. New online banking projects that have a risk factor should be reviewed by the management and they should ensure that adequate technical expertise is available at all times. For securities risk management strategy, the banks should have in place adequate identification (authentication) of online banking customers before a transaction is carried out. Measures should also be in place to ensure that such customer cannot deny he transacted over the internet. Measures should also be in place before embarking on an online banking project to protect customers privacy and Know Your Customer rules for online banking customers should be stricter than usual (Basel, 2001).

How to Use a Company’s Annual Report to Ace Your Interview :: Process Essays

How to Use a Company’s Annual Report to Ace Your Interview If you don't take the time to get know a company, you many not have a future there.   Your interviewer will ask you why are you looking for this particular position and why are you looking at ABC, Inc.   Start by telling him or her that you have read ABC's current sales record "in their annual report."   Ã‚  Ã‚  Ã‚   Company sales are important even if you are not interviewing for a sales job.   If you have reviewed several years of annual reports, you can easily see if the company's sales have gone up or down. Asking questions about the company's sales during an interview scores lots of points because it shows you have done your homework.   Ã‚  Ã‚  Ã‚   You can get ABC, Inc.'s past annual reports directly from the company, the public library or the Internet.   The annual report may not tell you how well the company fares within the industry, but it will tell you everything you need to show your interviewer how well you can fit into the company.   Ã‚  Ã‚  Ã‚   Once you obtain a company's past annual reports, review the most recent report first. At the back of the report, you will find the name of the auditor, somebody like Smith and Smith Accounting.   Reputable companies use a certified public accountant to show that the accounting methods used in the report conform to "generally accepted accounting principles."   Ã‚  Ã‚  Ã‚   Now turn to the front of the report and find the letter from the chairman of the board, whose personal style will be reflected throughout the report. The director will discuss the direction of the company, so pay attention to how he plans to run things in the future and whether he thinks the future looks positive for growth.   Ã‚  Ã‚  Ã‚   The company's financial growth is very important to both the company and to your salary requirements.   You may not want to crunch the numbers yourself, but you will want to understand the balance sheet, the status of the company's finances at a given date.   On the left are the assets, all of the organization's valuables.   Current assets are those that the company can convert quickly to cash.   On the right are the company's liabilities-what they owe.   Current liabilities are the company's debts due in one year, paid out of current assets.   Ã‚  Ã‚  Ã‚   Net working capital, is a key figure to watch only if you have several years worth of reports to compare.

Faith in Faulkners Light In August Essay -- Faulkner Light August Rel

Faith in Faulkner's Light In August Religion is a big part of the southern world that Faulkner creates in Light In August. It is also a major theme of the novel. Most characters seem to use â€Å"Lord† and â€Å"God† very often in their dialogue, which shows that religion is never forgotten by the members of this society. Light in August portrays a type of religious fundamentalism. In this fundamentalism, among the people of the south, there is only one proper way of following and implementing religion in one’s life. Characters are constantly trying to justify killing, hatred, and racism through their faith. The creation of hatred and racism is the result of each character’s belief that theirs are the only genuine beliefs and therefore, it is their responsibility to carry out the work of God in their own personal way and through their own reasoning. Two characters that are blinded by their own version of living a religious life are Mr. Hines and Mr. McEachern. I will argue that the obsession with their religion and their belief of how it should be followed is an ideology that fails each of these characters in their purpose. Consequently, the more these characters are faced by failure the more they try to embody God and take actions as if they are the Almighty Himself. Ironically, while using religion as a shield these characters fail to see their own sins. These characters see their sins instead, as the most essential and virtuous deeds and the work of God. From the moment Mr. McEachern picks up Joe Christmas from the foster home he stresses the importance of religion to Joe. While introducing himself, Mr. McEachern explains to Joe, â€Å"†¦I will have you learn soon that the two abominations are sloth and idle thinking, the... ...forced upon them. There are other types of religious extremists, like Doc Hines, who see those who do not share their faith as enemies and believe that they are a curse of God and therefore, should be eliminated through killing. These ideologies, even though seen in our world today, cannot be the definitions of faith and religion. In fact, the violence created through them defies the very basic beliefs associated with most world religions. Mr. McEachern and Doc Hines are blinded by their faith and their approach to implement religion in their lives and the lives of others is a forceful and violent one. In the end, both characters fail to spread their faith and instead their forceful teachings and extremist beliefs perpetuate more evil than good in the name of God. Works Cited Faulkner, William. Light in August. New York: Vintage International, 1990.

An Analysis of Chinua Achebes Things Fall Apart :: Things Fall Apart essays

An Analysis of Things Fall Apart â€Å"A penny will hide the biggest star in the Universe†¦..† It’s very smart to step out of my own shoes in order to see myself clearly in a situation. It’s necessary to do this in order to see and understand the whole picture. It’s smarter yet, to not only step out of my own shoes, but into those shoes belonging to someone else. Belonging to   someone different than me in as many ways possible.  Ã‚   Chinua Achebe’s, Things Fall Apart, shows us the importance of this through his story. He shows us that you have to physically put yourself into other people’s shoes, find out everything about them, in order to make any realistic judgment at all.   He shows us the difficulties of doing this, but also the rewards that come of it in the end.   Taking every possible opportunity to widen our perspective makes the walk back in our own shoes that much more worthwhile. Achebe’s story brings up a lot of issues pertaining to everyday life, even today.   It brings the idea of tolerance, and asking questions about our ways and ourselves. It makes the readers question when it’s okay to get involved, and the consequences of that.   All these being tiny matters compared to the idea of understanding of the importance of seeing the world through multiple perspectives, no matter how difficult. Its like flying a plane across country and sharing to others what you saw, as opposed to driving across the country and then doing the same. We live today in a society that wants to do things quickly, and easy.   Achebe wants to show us that that’s not the best way to view and pursue our lives. Okonkwo, the main character in Things Fall Apart is a member of the Ibo culture.   The Ibo is held together by one string, which is basically their very own traditions. Okonkwo is an extreme believer that his way, is the ONLY way. Even though Okonkwo breaks some rules in his own society, he thinks very highly of his own culture.   The Ibo ways are the only ways that Okonkwo allows himself to see.  Ã‚   He is a man demanding of his own family, dominating those around him, and rules â€Å"his household with a heavy hand.† Okonkwo is plagued by the fear of failure and weakness.   Throughout the story he puts his effort into struggles to repress any part of him that may resemble his father.

Standard Costing

Introduction to Management Accounting Lecture: Albert De Jonge Student: John Alejandro Eusse Agudelo Submission date: 20/04/12 Contentpage Introduction3 Standard Cost3 History of Standard Costing4 Disadvantage of Standard Cost4 Advantage and benefits of Standard Costing 5 & 6 The relevance of standard in Brittan and rest of the world6 Overhead 7 Conclusion8 Reference and Bibliography9 IntroductionThis report is based on the relevance of standard costing in Modern Britain, the report will include so fact and evidence that standard costing is relevant or not relevant for a 21st century Britain. To clarify more on this topic and to support my argument and discussion it will be necessary to use empirical evidence such as case studies from social scientist and scholars specialised in the subject. The assignment will focus on how standard costing is relevant in the UK compare to Germany and Japan.The aim of this report will be to present an argument for and against standard -costing. My fi ndings will determine what evidence to use so that, the report will be unbiased and well presented according to the assessment task. Lastly there will be difference between standard price and standard cost, this will be made clear and explain further. My research will be done through Internet source textbooks. Standard Cost â€Å"Standard cost is usually associated with a Manufacturing Company’s cost of material and direct labour and manufacturing overhead†.Standard cost is different from Actual cost because standard cost is an estimate put together, Standard costing is a reliable technique used to manage and improve the performance of an organisation, standard costing can be seen to the same or similar to Activity based costing (ABC) but has often been criticized to be outdates and lost relevance but it was also suggested that the best techniques for controlling cost and performance management is to use ABC and standard costingStandard costing is a management tool use d to estimate the over cost of production assume normal operations in other words, the estimate cost of material, labour overheads and other cost for each unit of production or purchase in a given accounts period. The basic concept of standard costing should be discuss clearly because it form the bases of the argument s to weather standing is relevant or not in the recent times. The charted institute of management Accounting, London, defines standard costing as â€Å"the preparation of standard cost and analysing cost the causes of variation with a view to maintain maximum efficiency in production.From the above definition, there are some key words that needs to be noted and explain for clarity of this report, one of which is standard cost – which is defined by the institute of cost and work Accountants as standard cost are prepared and used to clarify the final result of a business particularly by measurement of variations of actual cost from standard cost and the analysis of causes of variation for the purpose of maintaining efficiency of executive action. History of Standard CostingFor over 100 years, standard costing has been used for valuing stock and work in progress â€Å"some historians say the origins of costing go back even further and have found evidence it was used in American Civil war by quarter master as a means of controlling cost. It doesn’t really matter when the technique was invented what is more important is that it is still in use today† â€Å"In 1989 a survey showed that standard costing was being used by more than 75% of British Industries e. g. brewing, textile, electronics and Pharmaceuticals. Disadvantage of Standard CostThere are many article and books that criticise standard costing as a technique that’s in appropriate as capital intensive industries with high level of fixed overheads. Some Journals articles from the US in recent years indicate in use and although a 100 years old has definitely survive d the test of time. It can be used effectively to those industries which are producing standardised product and are repetitive in nature , examples are transport for London, Salt industries etc. Standard costing is not suitable in situations where a variety of different ind of tasks are being done e. g. this is one of the weakness of standard costing it does not include overheads Standard cost variance report is usually prepared on monthly bases and often is released days even week after the end of month. As a consequence the information in the report may be so stale that it is almost useless. Timely frequent report that are very precise but out of date by the time they are release some companies are now reporting variances and other key operating data daily or even more frequently.If managers are intensive and use variances report as a club, morale may suffer, employees should receive positive reinforcement for work well. Increase in Labour doesn’t necessarily mean productio n will increase because output is depended on processing speed of machine. â€Å"(George Brown 2000) mentions that they can be improvements and changes which may be aided though the monitoring of variance trends though time. Trends may be monitored in order to establish whether the situation is deemed to be in control with variance fluctuating within acceptable limits.Alternatively, the variance trend may indicate an out of control situation which must be investigated with a view to improving and changing product design, production methods. Etc† â€Å"Many candidates are unable to carry out necessary computational aspects of an examination question. This is likely caused, at least in part because of a lack of understanding of physical situation which the data is intended to represent. A further problem is lack of ability to relate the physical information that has been calculated and the discussion about it relevance as a business tool in planning, control etc. Advantage and benefits of Standard Costing The benefits of using standard costing is that it can be used by management and managers as marks against which the performance of an organisation or of a department can be measured, it’s a good control tool for every activity it is not only a cost control tool but also help in help in production planning and decision making policy formulation and allows management by exception. â€Å"(George Brown,2000 ) states that it’s a useful part in management accounting tool kit which has also been increasingly questioned.The extent to which standards have a role to play in modern business is linked to the adaptation of progress, market and policies in changing business environment. â€Å" The rate of change in product type and design due to technological improvements, customer requirements and increased competition has led rapid to change in how business operate. The need to respond to customer demands for speedy availability of products, shorten ing product life cycles and higher quality standards has contributed to a number of changes in the way in which business operate.These include: Just in time system allied to flexible manufacturing systems aimed to ensure that customers demand may be satisfied on a pull though basis. Stock and work in progress Will be minimised and the business operating cycle tailored to cater for the specific customer requirements. Total quality programmes aim at continuous improvement, with the identification and elimination of non value added activities and the effective provision of added activities.Great emphasis on the value chain, from close link with suppliers of input materials and services to identification of customer needs in respect of quality, deliver and changing requirements though time. cost control standard costing system help to improve cost control and cost reduction, This involve the whole process of setting the standards second is a routine comparison and analysis of performanc e and expenditure against these standards and lastly is the ability to express and study the variations in monetary terms and implement corrective measure. (George Brow, 2000) asks what of standards in modern business? Can planning and decision making be accomplished in an effective manner without reference to some standard or based and without recourse to some measurement though time of achievements of, progress towards or variation from such standard or base? What elements of traditional stand cost will still have some relevance?This question has been raised and discussed in a number of areas in which standards may feature:† Right decision making – It provides information to the operational staff, accountant and the management about the expected utilisation of production lines, machines, vehicles, cost, of all activities and raw material & standard processing time. Performance management the target of different individuals, are fixed if the performance is according to predetermined standards.This standard can be used by managers as yardstick against which the performance of an organisation or department can be measured with this the management has no worries, the responsibilities are fixed and everybody tries to achieve his or her target and with hoe the are appraised Benchmarking standard costs are good yard stick for comparison between different plants at different locations standard develop for a production line in manufacturing company A can be compare with standard develop in another manufacturing company of the same production line.Budgeting and planning It helps the management to prepare forecast for the rest of the year and sometimes more year’s e. g 5 years etc. The relevance of standard in Brittan and rest of the world Standard costing is arguably less relevant according to authors and professional in the accounting world this method is out dated and should be replace with more up to date method such as JIT TQM and ABC. The use of standard costing is relevant to an extends however the more current method are prefer and are widely used in most manufacturing company’s. Dr. Reef Lawson, IMA vice president of research and Professor-in-Residence; Jiliang Yang, retired professor from Hong Kong University of Science and Technology; and Pinzhun Ding, IMA senior China advisor, formerly of the PRC Ministry of Finance and the Chinese Institute of Certified Public Accountants (CICPA). These are the researchers that worked on the evolution of the finance and accounting (F&A) function in Chinese companies and management accounting technique (costing practice) they use.The study found significant differences between the costing practices followed by most Western companies and those followed by Chinese companies. † â€Å"It has been claimed that the use of standard costing is less expensive than an actual or normal costing system (Hilton et al. , 2003). Accordingly, standard costing has been widely used for both cost control and product costing purposes as well as to evaluate performance. Overhead Standard costing techniques do not include any overheads because standard costing always include elements for fixed overhead due to a larger percentage or the total cost of a product in manufacturing plants.In this case, there are two ways of approaching overheads treatment when using standard costing in management reporting. â€Å"Whelden (1932) in the first edition of cost Accounting and actual overhead costing methods, simply record the over or under applied overhead as the difference between actual overhead cost and a standard charge to work in progress. † In 1950 W Coutts Donald (CA,FCWA) used the innovation of calendar variance as part of the overhead volume variance.The calendar variance was a self adjusting variance that allowed for the under or over absorption of fixed overhead cost due to the varying number of working hours or days in any given accounting period. Where the bu dgeted fixed overhead was broken down into twelve equal parts, the calendar variance was in effect and used to flex the fixed overhead budget. In this case on a later date it was analysed into expenditure and volume variance. The volume variance was then subdivided into capacity and efficiency or productivity variance.Separate sets of overheads variances for fixed and variable overheads were also calculated. As mentioned earlier, the calculation of a calendar as part of fixed overhead capacity variance was probably the least understood of all variance. The Puxty and Lyall and Drury surveys show that 60% and 89% of respondents respectively, reported an overhead expenditure variance. Much lower numbers (28% and 41 %) reported an overhead volume variance. This could indicate a high level of use of a contribution approach in reporting system. 1) Overhead can be completely I ignoredOr (2) assumed to be fully absorbed by some cost drivers, these are the activities that consumes resources such as machine labour hours the mileage or the truck fleet etc. Conclusion The evidence showed that standard costing is less relevant in Britain because the country is more relying on service rather than manufacturing, The way standard costing as lasted over time also suggest how useful it has been and the alternative option such as TQM,JITand ABC could not replace the standard costing in the near at the moment.It is well known among the social scientist that this process is less common and even less in the United Kingdom because of the lack of manufacturing output in all the sectors compare to other countries such as USA, China, Japan and Germany. The way the report set out it support the argument that standard costing is relevant but the threat of it being extinct is something that need to be considered, even though it as survived many years, it is inevitable that the other method will come into practice more often for the newer generation.