Script and Analysis of Videotaped Lesson Essay Example | Topics and Well Written Essays - 3750 words

Script and Analysis of Videotaped Lesson - Essay Example er: What's 1minus 0; that turns into one that is a whole different problem, one function, two functions, right, use your theorem, constant over _ powered, one over 0 is 1, so what they actually do is they use what is called the squeeze theorem ok, that takes function, it's two outside function, one is a function and it squeezes it in between, that's what we just did, squeeze it in between Student: You didn't go over that yesterday Teacher: Yes, I didn't say Allison is like... Aren't we in a boring class Student: Is this the first class you have gone to today or did you just finish Teacher: I had a IEP meeting but it just finished Student: What's and IEP meeting Teacher: Individual Educational Plan Student: Inaudible Teacher: Inaudible Student: why do you have to go to an IEP meeting Teacher: You just, you always have to, once a year Student: Inaudible. What does once doYou'll be reprimanded Teacher: don't worry about it, if you're not all in, don't worry about it, you'll never have to go Student: InaudibleCause like, we won't be smart Teacher: Here's the next function, Inaudible, I got the sin of 0, what is the sin of 0 Student: Zero Teacher: and we're done Student: That's stupid Teacher: What's stupid about it, it's easy Student: that means it's not stupid, its easier to do Teacher: I can make it harder for you Jessie Student: Yea, just for Jessie Teacher: Yea there is 23, I plug infinity and I need Infinity, uh, one is infinity and one is undefined, we have to do something, what's our highest counter here Student: x over one Teacher: x, so one over x, we divide everything by x, you know this one Student: zero Teacher: that's zero, plus this will cancel it, 2 that's the bottom, put infinity here what do we get Student: zero Teacher: so zero divided by 2 is Student:... Teacher: ok, so what happens is you use what's called the squeeze theorem, that's, we squeeze in this function and between 2 other functions to figure out the answer, okay, its called di-estimate, but we have to get this function to look like this function so we divide it by everything by Teacher: What's 1minus 0; that turns into one that is a whole different problem, one function, two functions, right, use your theorem, constant over _ powered, one over 0 is 1, so what they actually do is they use what is called the squeeze theorem ok, that takes function, it's two outside function, one is a function and it squeezes it in between, that's what we just did, squeeze it in between Teacher: If you even knew how bad I was when I first studied chapter one, I got a C+, and I may have copied off of my friend, and I never take calculus again, never in the world, never for the life of me did I think I would actually teach this stuff Teacher: alri

Halliburton Essay Example for Free

Halliburton Essay One of the most important functions for any organization to succeed in any particular direction is planning. Planning is an activity that enables companies and their employees to understand the company’s purpose and its strategic direction so that they can align themselves to it. This paper will discuss the importance of planning at Halliburton Company and analyze the extent to which it impacts the legal, ethical and CSR issues in the organization. Furthermore, it will discuss three factors that have an influence on the company’s strategic, tactical, operational and contingency planning. Halliburton Company was established in 1919 in Houston, Texas with a second headquarter in Dubai, UAE. Currently employing over 50,000 people, it is a huge multinational and global leader in the energy services sector operating in more than 70 countries. Using its technological edge in its operations and assistance from its world-class human resource, Halliburton has demonstrated outstanding growth and development in the energy sector over the past several decades. Its focus on innovation dates back to its early years when its founder, Erle P. Halliburton initiated his oil well cementing business by building a wooden mixing box only by hiring a wagon, a team of mules and a pump in Oklahoma. Careful planning and effective strategies have enabled Halliburton to remain as the market leader in the energy sector for almost a century now. Its planning strategies are comprehensive, focused on global changes and follow the â€Å"Think globally, act locally† theme. Halliburton management realizes the fact that for global survival it is essential to adopt different methodologies in different countries. For this purpose, it operates from 2 headquarters – Texas, the oil hub of the West and Dubai, the trading hub of Asia and Europe. â€Å"The number one priority of Halliburton is to provide competitive, safe and superior quality products and services†. Halliburton management maintains that in order to ensure business continuity they must explore the unexplored parts of the world for newer energy reserves bringing in environmental concerns. Thus, there are several instances when Corporate Social Responsibility and other issues have an impact on the planning of Halliburton and its strategy planning. There are often differences in the legal framework of different countries, for example, the British and American laws pertaining to environmental exploration have different clauses. This results in differences in the local planning of future steps to be taken by Halliburton in maintaining its market position and extending its operations. Ethics also play a key role in shaping up its policies and plans for the future. Environmental concerns, consideration for animal and plant wildlife are some of the factors the Halliburton management takes into account when planning its activities. For example, if oil exploration in the Sahara will result in extinction of the sub-Saharan tigers living in the region, the company will develop an alternative plan. Global companies as large as Halliburton have to manage their activities and operations collaboratively; sometimes the ethical and legal frameworks of adjacent countries can render certain actions legal in one nation and illegal in another nation. Thus corporate planning is a very extensive process at Halliburton which involves considerable amount of consideration given to regional subsidies of the company. Though corporate social responsibility and legal issues dominate the effect on the planning activities of Halliburton, ethical considerations also sometimes require plans to be modified. For example, Halliburton’s operations in Saudi Arabia have to be controlled differently than its operations in the US. The ethics standards and beliefs in the two countries are different and regulate different practices. For instance, daytime operations during the fasting season where the temperature is very high is not restricted by law. Even the workers may be willing to work, but ethics and moral standards suggest that Halliburton operations should be continued at night during those days. There are several factors which affect the course of action of companies. Often we see changes in the stock market leading to important strategic planning changes in companies. However, most of these are short-term plans and do not affect the vision of the company by a significant degree. Some of the most important factors which have a contribution towards the company’s strategic, tactical, operational, and contingency planning are as follows: Potential Energy Reserves: Halliburton thrives on its energy reserves and constant exploration of newer energy sites. Its strategic and international planning is based upon the potential energy reserves of a region. A region where there are high energy reserves would naturally be an area for long-term planning for Halliburton management while a exit strategy may be prepared for a dried up site in Japan. Its strategy is the key to business continuity and profits and thus takes into account the future business that can be generated from a particular region. Taxation and Corporate Laws: The reason why Nevada is the registered as the corporate head office of thousands of companies is because of its tax-friendly laws. Halliburton’s expansion and acquisition strategies are dependent on the corporate taxation and regulations that are enforceable in a particular state or country. These laws influence to a great degree the company’s operational and contingency panning as well. Avoiding over-taxation requires careful hindsight in operational and acquisition activities. Companies like Halliburton need to have effective planning strategies in order to save huge amounts in taxation and legal fees. Culture: The culture of Texas may be very oil-friendly however, that may not be the case in Brazil. The differences in culture, customs and therefore the code of ethics is important for Halliburton to realize and respect. Companies not caring about these factors often face problems in the long-term. Nike could not stop the sweatshop crisis news from coming into the media which caused hundreds of thousands of dollars loss to the company and several protests were lodged against the company till it finally winded up its operations. Halliburton’s planning should take into account the resident cultural practices and base its plan according to them – violation of local culture is often taken very strongly by the people and is revoked at some point or the other.

Finance and Accounting in the Hospitality Industry

Finance and Accounting in the Hospitality Industry Introduction. According to the Barrows Powers (2009, pp. 3-5) hospitality industry has included hotels , restaurants and other related organisations to the food industry and it has given more emphasis on providing customer sensitive products and services in order to gain profitability and customer satisfaction. Hence, the application of finance and accounting has been done a great deal to achieve such requirements for the hospitality industry. The applications of finance in the hospitality industry has been discussed under several ways of this assignment. Further it has focused to understand the sources of funding and income generation for the business and services industries as well as understand the business in terms of the element of cost. In addition that it has given more intention to evaluate the financial statements of the selected businesses which are in the hospitality industry. Apart from that, this has emphasise the analysis of the performance of the business by using ratio analysis techniques. Finally it has focused to apply the marginal costing concept to evaluate the short term management decisions. Task 01. 01.1 Sources of funding available to business and service industries. Sources of funds are very important to decide management decisions as well as long term strategies of any organisation. As per the Sharan (2005, pp. 210-218) following funding methods should be noted. Retain Profits. Increasing the revenue and reducing the cost this can be increased in a systematic manner. Bank Loans. It is advisable to go for a loan under lower interest rate. Because if the loan interest rate is higher than the companys return on investment, then it will cause liquidity problems in the future. Bank Overdraft facility This is subject to higher interest rate and recommended only for a limited time period. Issuing share to the public Ordinary shares less cost to the organisation but more power has been given to them. But preference share has less controls over the company but subject to a higher cost to the organisation since they have to pay pre-determined dividends on time. Franchise option. This is recommended to expand the business chain with an association with medium scale merchants to promote companys products and goodwill. Hire purchase schemes This also important to manage the cash flow situations of the organisation without investing higher capital for equipments plants. Lease Schemes This also important if the company have not greater funds to invest for their assets. But this is subject to higher interest cost. Credit purchases This is important to manage the working capital position of the organisation . Since agreement with many suppliers can be obtained credit period to pay the cost of goods purchased. Debt Factoring This important to get the cash in early by giving commission chargers to the factoring company to collect their debts very quickly. Sponsorship This is ideal by collecting funds from other organisations and giving chance to promote their names. As per the Banjerjee (2010, pp. 47-58) following funding options also to be considerable. Debenture issue to investors Right issues to shareholders Business Amalgamation Mortgages Venture capital strategies to expand the operations. 01.2 Methods of generating income and contribution to business service operations. According to the Hayes Miller (2011, pp. 5-20) generating income and contribution to the hospitality industry can be identified in following way. Sales In the case of hospitality industry is concerned such as hotels, are providing rooms, foods, beverages and other supportive services in order to generate income from that. Commission. This commission income will be received from the third party supplier to the organisation. Sponsorship This will be received from other organisations to promote their names. Grants Grants are receiving from the government , any other authority. Sub letting This can be generated by sub letting the premises to external parties, such as fancy item shops , flower shops , jeweler shops, etc. Task 02. 02.1 Elements of costs, gross profit and selling prices for products services. Element of Costs According to the Davis Davis (2012, pp. 25-34 ), followings can be identified as the elements of cost in the hospitality industry. Materials Material cost is the cost component in the final product or services which incurred mainly to provide particular products and services. Eg : Linen , Cutlery, Glassware , China , Silverware, Consumables Consumables are the main cost component in the final products in the hospitality industry. This requires further processing to deliver the final product to the customers. Eg : Foods and Beverages Labour Labour cost is the cost which are incurred for the main operating functions of providing final product or services of the organisation. Eg : Salary paid to waiters, kitchen staff front office staff Overheads Overheads are costs which incurred for indirect materials , indirect labour and other indirect cost. These costs cannot be identified specifically with the final product or service. Eg : Salary of admin department, electricity, stationery Selling Price and Gross Profit Margin According to the Kotas R. (1999 , pp 99-107) pricing methods used by the hospitality industry can be identified as follows. Pricing in Tourism ( Peak / Peak off trading price ) Selling price on peak seasons prepared by adding a higher markup to the operational cost as selling price. While in peak off seasons it is adjusting by reducing mark up and offering discounts for the selling price while concerning the competition in the market. Conventional Pricing Method. ( Rate of return pricing ) Here, it is emphasised that setting separate contribution margins to the different revenue segments ( such as foods, beverages, room, other operational segments ). After that it has to select the profit maximising contribution rate. Finally, the selling price will be based on the selected profit maximising sales mix. Gross Profit will be computed by deducting cost of sales from sales. Absorption Pricing Method Here, variable cost per unit has to be computed first and after that overhead cost to be absorbed to the unit cost. Finally markup to be added to the total cost to set as the selling price in order to gain required profit. Contribution Pricing Method. ( Marginal Costing) It is required to categorise the cost as variable fixed. Then the variable cost per unit has to be computed and based on the variable cost per unit, required contribution to be decided to arrive selling price. There is no absorption of overheads and fixed cost to the unit cost of the product. The Gross profit margin will compute after deducting the variable cost of the sales. Backward Pricing Method. This is a method of adjusting the operating cost to a fixed rate. In this case local or national trade organisations has decided fixed selling price and other members have to be accepted this price . Once they need to change this rate, meet again and decide the new price. Product and Service Costing. Selling price decided by adding a predetermined percentage of service charge to the unit cost, after adding the profit mark up to the unit cost. 02.2 Methods of controlling stocks and cash in a business services environment. Stock Controls Proper stock controlling is the way to smooth functioning of daily operations working capital management in an organisation. According to the Ryan B. (2004, pp: 355-361) following inventory controls are recommended. Compute economic order quantity level and re order level of the inventory. Required to avoid the unnecessary stock purchases . Create Just in Time inventory management system. Hospitality industry, mostly dealt with the perishable goods (foods beverages). Therefore it is ideal to maintain a JIT inventory system to eliminate the wastages, losses, and inventory handling cost. Implementation of ERP software programme for the inventory management. This ensures the updated accurate information linkage within the organisation to take proper inventory related decision on time. In other hand Warren et al (2008, pp: 270 271) emphasise important two controls over inventories. Safeguarding the stock from damage and theft. By restricting the store area only to authorised staff members, and it encourages to lock the high value items in a locker while usage of a camera system and security. Reporting the stocks in the financial statements. It is required to conduct a physical stock count at the year end and take the figures into accounts, while identifying any mismatch between system physical figures. Cash Controls Holding considerable cash amount is encouraged to conduct smooth functioning of working capital management. According to the Needles and Powers ( 2011, pp: 399 403) there should be following controls over the cash. Implementation of dual control over the cash. It is important to give authorisation for two persons to verify handle the cash balances to eliminate the cash thefts or manipulations. Preparation of bank reconciliations. Required to identify the reasons for the differences in cash book figure with bank statement balance. Conduct a physical cash count in random basis. This will help to minimise the misconduct by the staff who has handled the cash. Task 03. 03.1 Final accounts analysis of Valentina Hotel Ltd. 03.1.1 Source and structure of the trial balance. Sources of the trial balance are concerned, Kotas and Conlan ( 2007, pp. 101-115) it has been categorised under three ledgers , namely general ledger, sales ledger and the purchase ledger. Purchased ledger consists the personal accounts of suppliers (Creditors). Sales ledger relates to personal accounts of customers (Debtors). While general ledger consists impersonal accounts. Such as nominal accounts and real accounts. Nominal accounts refer to income and expense accounts. While real accounts refer to the assets and equity accounts. The structure of the trial balance is concerned , Jagels (2007, pp. 20-21) it has been categorised under the following way. Current Assets Fixed Assets Contra Assets Current Liability Long Term Liability Owners Capital Contra Capital Contra Revenue Revenue Expenses Therefore the trial balance consists of accounts which having debit credit balances and which all of them are summed up at the end. The trial balance of Valentina Hotel Ltd can be summarised as follows. Current Assets Bank / Cash / Debtors Fixed Assets Contra Assets Building / Equipment / Acc. Depreciation Current Liability Creditors Long Term Liability Long term bank loan / Debentures Owners Capital Ordinary share capital / Retained Profit Contra Revenue Opening Stock Revenue Sales Expenses Salaries / Loan interest / Marketing / Energy / Communication / Rates Insurance / Purchases 03.1.2 Evaluation of final accounts 03.1.2.1 Income Statement. Income Statement of Valentina Hotel Ltd for the year ended 28th February 2010.  £ 000  £000 Sales 2, 040 Less: Cost of Sales Inventory (01/03/2009) 49 Purchases 1, 360 1,409 Less: Inventory ( 28/02/2010) (51) (1,358) Gross Profit 682 Admin Operating Expenses Business rates insurance ( 67 3) 64 Wages salary (262 + 5) 267 Depreciation ( 250 * 25%) 62.5 Communication expenses 36 Energy Cost 49 (478.5) Selling Distribution Expenses Marketing 79 (79) Finance Expenses Debenture interest (200 *6%) 12 Loan interest 4 (16) Profit Before Taxation ( PBT) 108.5 Less: Income Tax (39) Profit After Taxation (PAT) 69.5 Less: Dividend declared ( 100*0.15 ) (15) Retain profit for the period 54.5 03.1.2.1 Balance Sheet. Position Statement of Valentina Hotel Ltd as at 28th February 2010. Assets  £ 000  £ 000  £000 Non Current Assets Cost Acc. Dep. NBV Buildings 400 400 Equipments 250 112.5 137.5 650 112.5 537.5 Current Assets Inventory (28 / 02 / 2010) 51 Debtors 92 Pre -paid Insurance 3 Bank 3 Cash 1 150 Total Assets 687.5 Equity Liability Equity Reserve Stated Capital (  £1 Ordinary shares) 100 Reserves Retained Earnings ( 157 + 54.5 ) 211.5 311.5 Non Current Liabilities 6% Debentures 200 Long Term Bank Loans 60 260 Current Liability Creditors 45 Wages salary payable 5 Debenture interest payable 12 Income tax payable 39 Dividend payable 15 116 Total Equity Liabilities 687.5 03.2 Budget and variance analysis of Valentina Hotel Ltd. 03.2.1 Process and purpose of budgetary controls. According to the Needles et al (2010, pp. 966) budgetary control is the use of a comprehensive system of budgeting to aid the management in carrying out its function such as planning , coordination and controls. Purpose of Budgetary Controls. The purpose of budgetary controls can be recognised, according to the Kotas R. (1999, pp. 177-180) in following manner. Achieving business targets. Delegating responsibilities to the staff. Optimum resource utilisation. To take corrective actions. Well coordination of work. As a basis of future policy Use as a basis of performance measurement Process of Budgetary Controls According to the Needles et al (2010, pp. 966-969) budgetary control process can be identified as follows. Period of Budget. This may be one year or sometimes it can be continuous from previous time to next time. Approach of Budget. Selecting a suitable method to use a budget. Such as zero based budgeting . Implementation of Budget. Implementation should be done after preparing approving the budget for the period. Performance Measurement. Measure the actual performance with budget during the budgetary period. Identification of differences in actual with budgeted performance. By conducting a variance analysis. Take corrective action. Corrective procedures required to produce the performances which are closer to the budgeted performance. 03.2.2 Variance analysis. Computation of RM Variances Raw Material Total Variance = Standard Cost Actual Cost = ( 10,000* $ 10) $ 98, 600 = $ 1,400 F / + Raw Material Price Variance = Qty. Used ( Standard Price Actual Price ) = ( 11,700 * $ 10 ) $ 98,600 = $ 18,400 F / + Raw Material Usage Variance = Std. Price ( Standard Usage Actual Usage ) = $ 10 ( (10* 1,000) 11,700 ) = $ 17,000 (A) / Analysis of variances It has shown $ 1,400 favourable total raw material variance from the budgeted figures. It indicates that actual material cost is less than the budgeted material cost and it is in the, within the controls. Further there is a $ 18,400 favourable raw material price variance from the budgeted figures. This indicates that the actual price is less than the budgeted price. However it has $ 17,000 adverse raw material usage variance from the budgeted figures. This means, RM usage are in out of the controls. Suggestions for appropriate future management actions Take corrective actions to eliminate the over usage of RM. Setting new procedures to reduce the wastage of RM. Implement new controls to monitor the RM usages. Check whether such variance is controllable or not. If it is controllable, then corrective action to be taken. If not a revision of standards is recommended. Task 04. 04.1 Ratio analysis of Audalucia Hotel. Profitability Ratio Gross Profit Ratio of the company has been declined by 15.14% ( Appendix A) compared to the 18.33 % of this year with 21.60 % of last year. Net Profit Ratio also declined by 30.56% ( Appendix A) compared to the 3.59 % of this year with 5.17 % of last year. Apart from that Return On Capital Employed (ROCE) also decreased by 31.73% ( Appendix A) compared to the 8.24 % of this year with 12.07 % of last year. This incurred due to increase in expenses cost of sales. Liquidity Ratios Current Ratio of the company has been increased by 0. 52 times ( Appendix A) compared to the 3.68 : 1 of this year with 3.16 : 1 of last year. Quick Ratio decreased by 0. 50 times ( Appendix A) comparisons to the 2.43 : 1of this year with 2.93 : 1 of last year. This incurred due to over fund usage on closing stock. Efficiency Ratios Inventory Turnover Ratio of the company has been decreased by 36.25 times ( Appendix A) compared to the 17.37 times of this year with 53.62 times of last year. Inventory Turnover Period has been increased by 14 days ( Appendix A) compared to the 21 days of this year with 7 days of last year. Debtors Turnover Period has been decreased by 7 days ( Appendix A) compared to the 39 days of this year with 46 days of last year. Creditors Turnover Period has been decreased by 5 days ( Appendix A) compared to the 25 days of this year with 30 days of last year. This incurred due to over fund utilisation on stock, increase of debtors creditors. Investors / Financial Ratios Earnings Per Share (EPS) of the company has been decreased by  £ 0.21 ( Appendix A) compared to  £ 0.25of this year with  £ 0.46 of last year. This has incurred due to low profit earned during the period and new share issue. 04.2 Appropriate future management strategies for business and service operation. Following strategies to be taken by the management to eliminate the discrepancies identified in the ratio analysis. Reducing the selling price volume of sale should be increased to gain higher revenue. Unnecessary fund utilisation on the stock should be reduced. The JIT stock system to be implemented to minimise the stock handling cost. Take necessary steps to reduce the expenses in regularly. Negotiate with suppliers to obtain longer credit period while asking lower credit period to the customers. Follow proper cash flow management procedure within the organisation. Implement new procedures to attract the customers to the company to increase the sales while conducting discounts promotions. Non Current Asset should have used in very efficient effective manner to generate income from it. Task 05. 05.1 Categorisation of costs of Leicester Square Hotel. Fixed Cost As per the Horngren et al (2009, pp: 28-29) fixed cost is the cost which remained unchanged in total for a given period regardless of changes in volume or activity. Eg : Fixed Cost of the hotel operation  £ 1,600,000 Variable Cost According to the Drury ( 2008, pp. 32-34) variable cost is the cost which changes in direct proportion to the volume of the activity. Eg : VC of Food sales per room  £ 7 VC of Beverage sales per room  £ 2.4 Semi Variable Cost According to the Kinney Raiborn ( 2011, pp. 28-29) semi- variable cost is the cost which consists both fixed and variable components for a given activity. It remains as fixed up to a certain level and beyond that it will be variable based on the volume or activity. Eg : Variable Cost per occupied room  £ 15 VC of Minor operations departments per room  £ 1.2 05.2 Cost / Profit / Volume analysis of Leicester Square Hotel. Computation of Contribution per product / customer ( in  £ ) Description Room Foods Beverages Minor Dept. Total Selling Price 120 20 8 2 150 Variable Cost (Appendix B) (15) (7) (2.4) (1.2) (25.6) Contribution 105 13 5.6 0.8 124.4 (Per product/customer) Net Profit Computation ( in  £ ) Sales ( 150 * 100 * 365) = 5, 475,000 Less : Variable Cost (25.6 * 100 * 365) = ( 943,400 ) Contribution (124.4 *100* 365 ) = 4, 540,600 Less : Fixed Cost = ( 1,600,000 ) Net Profit = 2,940,600 Break Even Point Computation BEP ( in units ) = Fixed Cost Contribution per customer = 1,600,000 124.4 = 12,861.74 ÃŽÂ © 12, 862 ( Customers ) BEP ( in  £ ) = BEP ( in units ) * Selling Price = 12,862 * 150 = 1,929,300 Cost -Volume -Profit Relationship Value (  £ 000 ) TR Total Revenue ( £ 5,475 ) ( £5,475) Profit ( £ 2,940.6) Profit BEP BEP ( £1,929) VC ( £ 934.4) Loss FC ( £ 1,600 ) (Customers ) 0 BEP ( 12,862 ) (36,500) According to the Blocher et al (2006, pp 238-241) Cost-Volume -Profit analysis is the method of analysing how operating decision and marketing decision affects the net income based on the relationship between cost ( VC FC), volume (output level ) and selling price. The hotel is required to sell 12,862 rooms to the customers to achieve breakeven point of sales. According to the Hansen et al ( 2009, pp. 591-595) Breakeven point is the level at which revenue is equal to the total cost and the profit is zero. Since they can obtain  £ 1,929,300 revenue to cover the total cost and beyond that they can earn profit from every additional customers. If the hotel unable to achieve 12,862 customers per annum, they have to suffer with losses. The Hotel can earn contribution of  £ 124.4 from every customer and if they achieve the expected sales level of 36,500 customers , they can achieve  £ 2,940,600 profit for the period. 05.3 Justification of short term management decisions based on CPV analysis. Margin of Safety ( in units ) = Expected Customers BEP Customers = ( 365 * 100) 12,862 = 36,500 12,862 = 23,638 Margin of Safety ( in  £ ) = Margin of Safety ( in units ) * SP = 23,638 * 150 = 3,545,700 Degree of Operating Leverage = Contribution Margin Net Profit = 4,540,600 2,940,600 = 1. 54 ( low risk ) According to the Blocher et al (2006, pp 249-252) margin of safety is the amount or units of sale above the sales. In that case hotel can generate  £ 3,545,700 turnover by 23, 638 customers. It indicates that this hotel investment is worth. As per the Hansen et al ( 2009, pp. 597-598) degree of operating leverage is the ratio of contribution to the profitability. In this case, it shows a lower leverage of 1.54 since it generates lower risk to the future profitability of the hotel. Therefore it is justifiable that management has been taken an optimized and a worth decision regarding this investment. Conclusion. According to the given cases of this assignment is concerned it is clear that practical application of theories in hospitality management is really essential in order to obtain proper decisions to improve the profitability, avoid control deficiencies and smooth functioning of routine operation of the business. References. Book References Banjerjee, B. (2010), Financial policy and Management Accounting, 7 th ed. Prentice Hall Ltd, pp. 47-58. Barrows, C. W. Powers, T. (2009), Introduction to the hospitality Industry, 7 th ed. John Wiley Sons Inc., pp. 3-5. Blocher, E.J., Chen, D., Cokins, S Lin, F. (2006), Cost Management : a strategic emphasis, 3 rd ed. Tata Mc Grow Hall, pp. 238-252. Davis, C. E. Davis, E. (2012), Managerial Accounting, John Wiley Sons Inc., pp. 25-34. Drury, C. (2008), Management and Cost Accounting, 7 th ed. Cengage Learnings, pp. 32-34 Hansen, D. R., Mowen, M. M. Guan, I. (2009), Cost Management : accounting control, 6 th ed. Cengage Learnings, pp. 591-598. Hayes, D. K. Miller, A. (2011), Revenue Management for the Hospitality Industry, John Wiley Sons Inc., pp. 5-20. Horngren, C. T., Datar, S. M., Foster, G., Rajan, M. V. Ittner, C. (2009), Cost Accounting : a managerial emphasis, 13 th ed. Pearson Prentis Hall Ltd, pp. 28-29. Jagels, M. G. (2007), Hospitality Management Accounting, 9 th ed. John Wiley Sons Inc., pp. 20-21. Kinney, M. R. Raiborn, C. A. ( 2011), Cost Accounting : foundations evolutions, 9 th ed. Cengage Learnings, pp. 28-29. Kotas, R. Conlan, M. (2007), Hospitality Accounting, 5 th ed. Thomson Learning, pp. 101-115. Kotas, R. (1999), Management Accounting in Hospitality Tourism, 3 rd ed. Thomson Learning, pp. 99-180. Needles, B. E., Powers, M. Crosson, S. V. (2010), Financial and Managerial Accounting, 9 th ed. Cengage Learnings, pp. 966-969. Needles, B. E. Powers, M. (2011), Principals of Financial Accounting, 11 th ed. Cengage Learnings, pp. 399- 403. Ryan, B. (2004), Finance and Accounting for Business, Thomson One Business School, pp. 355- 391. Sharan, V. (2005), Fundamentals of Financial Management, 2 nd ed. Pearson Educations Ltd, pp. 210-218. Warren, C. S., Reeve, J. E. Duchac, J. E. (2009), Financial Management Accounting, 11 th ed. Cengage Learnings, pp. 270-271. Web References Accounting Ratio Analysis , [online], Available from: http://http://www.ratioanalysis.net [ Accessed on 25th November 2012 ]. Industry Information, [online], Available from: http://http://www.instituteofhospitality.org/info_services [ Accessed on 25th November 2012 ]. Hospitality Industry News, [online] , Available from: http://www.bha.org.uk/category/news [ Accessed on 24 th November 2012 ]. Bibliography. Brigham, E. F. Houston, J. F. (2009), Fundamentals of Financial Management, 11 th ed. Thomson One Business School, pp. 512-525. Jain, P. K. Khan, M. Y. ( 2008), Management Accounting, 4 th ed. Tata Mc Grow Hall, pp. 18-19. Maher, M. W., Stickney, C. P. Weil, R. L. (2008), Managerial Accounting : an introduction to concepts, methods and uses, 11 th ed. Cengage Learnings, pp. 138-147. OFallon, M. J. Rutherford, D. G. (2011), Hotel Management and Operations, 5 th ed. John Wiley Sons Inc., pp. 1-18. Weil, R. L. Maher, M. W. (2005), Hand Book of Cost management, 2 nd ed. John Wiley Sons Inc., pp. 539-548. Weygant, J. J., Kieeso, D. E., Kimmel, P. D. Franco, A. L. D. ( 2009), Hospitality Financial Accounting, 2 nd ed. John Wiley Sons Inc., pp. 260-280.

20,000 Leagues Under The Sea :: essays research papers

After decoding a scrap of paper he found in an old book, Professor Hardwigg decides to take a journey. A "Journey to the Center of the Earth" that the paper says is possible. Brushing aside the concerns of his nephew Harry about the temperature of the earth's interior, the professor makes Harry come with him on the journey. They gather the needed supplies and depart two days later for Mt. Sneffels in Iceland, the point through which they can gain access to the core of the earth. With the Icelander Hans as their guide, the party undertakes the rugged journey up to the mountain, stopping to rest along the way at the homes of Icelanders. Through these people, they learn much about the culture. Once they reach the mountain, the three descend into the crater and after several days figure out which of three shafts is the one through which they can make their journey. Aided by Hans' s knowledge of how to use ropes, they travel downward more than a mile during the first day. The Professor explains that they are now at sea level and he real journey is just beginning. At the bottom of the shaft, they come upon four crossed paths that they can follow and the Professor quickly chooses one. After several days of trekking in search of water, they must retrace their steps because the path dead-ends. Finally returning to the place of the four crossed paths, Harry collapses and thinks they will return to the surface. Although the Professor shows concern for Harry, he asks for one more day to find water before they abandon the journey. They select a different route and soon discover water. Days later they find a well-like shaft through which they descend to twenty-one miles below the surface of the earth. Continuing to descend rapidly, Harry goes ahead of the others and soon finds himself alone. In desperation he retraces his steps but becomes hopelessly lost. It is only after much suffering four days later that Harry is reunited with his uncle. As Harry is recovering he hears the sound of waves and thinks he sees light. In act, the three have arrived at what they name the Central Sea, a vast underground body of water. At this point, scientific wonders appear regularly. Exploring the area around the sea, the travelers find what looks like a forest but are actually forty-foot mushrooms.

The Feasibility of Utillizing Basella Rubra

People nowadays use alugbati nightshade leaves for cooking and throw away the stems. Instead of throwing the stems, why not investigate a product from utilizing Basella Rubra (Alugbati) stems that will be a great help to the industry. Utilizing the stems of Basella Rubra is also practical and economical for the users. This kind of plant is abundant even found in backyards here in our country. It has spread throughout the tropical countries and one of the best tropical spinach widely adapted to a variety of soils and climates. Malabar n. has thicker tender stems. It is a good source of vitamins A, C and iron. The researchers decided to make Alugbati stems as a skin moisturizer because it possesses that commercial moisturizers have like: emollients. This helps the skin to be moisturized and soften. This study aims to produce and attempts to discover the capability of alugbati stems as a substitute for commercial skin moisturizer. It also aims to produce product that is less expensive and acceptable for people who has skin problems. Significance of the Study: This study is significant especially to persons that has a problem on dryness of the skin because they don’t have to buy an expensive skin moisturizer for there is already a substitute to it that is cheaper and environmentally friendly product. Statement of the Problem: Is it possible to make a skin moisturizer out of alugbati stems? Are there any properties of alugbati stems that can be used as a skin moisturizer? Hypothesis: It is possible to make a skin moisturizer out of alugbati stems and there are also properties of alugbati stems that can be used as a skin moisturizer. Materials and Equipments: The materials that will be use are clean containers, strainer, mortar and pestle, Alugbati stem, Glycerin, and perfume oil. Variables: The independent variables are: (1) Water (2) amount of Glycerin and (3) amount of perfume oil while the dependent variable is the Basella Rubra (Alugbati) stem. Procedures: The procedures in making a skin moisturizer out of alugbati stems are: (1) Wash the alugbati stem and sterilize the containers to be use. (2) Peeling the skin of the stem of alugbati using knifes or hands. 3) Pounding of the stem of the alugbati using the mortar and pestle. (4) Add a little amount of water then pound again until it becomes subtle. (5) Strain to separate the extract and the stem. (6) Cool it aside. (7) Add glycerin that will make it a moisturizer and perfume oil to enhance its fragrance. Review of Related Literature: Glycerin is a neutral, sweet-tasting, colorless, thick liquid which freezes to a gummy paste and which has a high boiling poi nt. Glycerin can be dissolved into water or alcohol, but not oils. On the other hand, many things will dissolve into glycerin easier than they do into water or alcohol. So it is a good solvent. Glycerin is also highly â€Å"hygroscopic† which means that it absorbs water from the air. Example: if you left a bottle of pure glycerin exposed to air in your kitchen, it would take moisture from the air and eventually, it would become 80 per glycerin and 20 percent water. Because of this hygroscopic quality, pure, 100 percent glycerin placed on the tongue may raise a blister, since it is dehydrating. Diluted with water, however, it will soften your skin. While people say this softening is the result of the glycerin attracting moisture to your skin, there is heated debate as to whether or not the glycerin has some other properties all its own which are helpful to the skin. Summed up, the current thinking is â€Å"We know glycerin softens the skin. Some people think its because it attracts moisture, but there could be other reasons. † Glycerin has lots of uses besides being used to make nitroglycerin (note: glycerin is not an explosive substance by itself. It has to be turned into nitroglycerin before it becomes explosive, so it’s safe to work with in your kitchen). Some uses for glycerin include: conserving preserved fruit, as a base for lotions, to prevent freezing in hydraulic jacks, to lubricate molds, in some printing inks, in cake and candy making, and (because it has an antiseptic quality) sometimes to preserve scientific specimens in jars in your high school biology lab. http://pioneerthinking. com/crafts/what-is-glycerin Moisturizers or emollients are complex mixtures of chemical agents specially designed to make the external layers of the skin (epidermis) softer and more pliable. They increase the skin's hydration (water content) by reducing evaporation. Naturally occurring skin lipids and sterols, as well as artificial or natural oils, humectants, emollients, lubricants, etc. , may be part of the composition of commercial skin moisturizers. They usually are available as commercial products for cosmetic and therapeutic uses, but can also be made at home using common pharmacy ingredients. Moisturizers prevent and treat dry skin, protect sensitive skin, improve skin tone and texture, and mask imperfections. ttp://en. wikipedia. org/wiki/Emollient Alugbati is a plant used a vegetable. It is rich in calcium, Vitamin B (Thiamine, Niacin & Riboflavin) and Vitamin C. It is a laxative and has soluble fiber that acts like magnet to ingested fat and subsequently reduce the risk of cardiovascular diseases. Regularly eating alugbati will help reduce degenerative disease. Red alugbati has the added property of higher amounts of xanthones, an antioxidant. It can also impro ve and regularlize bowel movement. B-complex vitamins help improve blood vessel strength. http://gonatural. com. ph/herbalblog/alugbati-scientific-name-basella-alba-basella-rubra-linn/ Alugbati is a succulent, branched, smooth, twining herbaceous vine, several meters in length. Stems are purplish or green. Leaves are somewhat fleshy, ovate or heart-shaped, 5 to 12 centimeters long, stalked, tapering to a pointed tip with a cordate base. Spikes are axillary, solitary, 5 to 29 centimeters long. Flowers are pink, about 4 millimeters long. Fruit is fleshy, stalkless, ovoid or nearly spherical, 5 to 6 millimeters long, and purple when mature. Constituents †¢ Phytochemical screening of various extracts yielded cardiac glycosides, saponins, tannins, flavonoids, terpenoids, carbohydrates, and reducing sugars. †¢ Study isolated Basellasaponins A, B, C, and D, oleanane-type triterpenes oligoglycosides, together with betavulgaroside 1, spinacoside C, and momordins IIb and IIc, from fresh aerial parts. †¢ Leaves yield saponin, vitamin A and B. †¢ Fruit yields mucilage and iron. Study of wild Basella rubra showed it to be abundant in carotene, middle in vitamin C, and low in nitrate. Nitrate in planted B. rubra is about twice that of the wild variety. Properties †¢ Aperient, demulcent, diuretic, emollient, laxative, rubefacient. †¢ Mucilaginous when cooked. Uses Edibility / Nutrition – Common market product, a popular leafy and stew vegetable, and a good substitute for spinach. – The green and purple cultivated varieties are preferable to the wild ones. – Both the young shoots and stems are eaten.

Book Review: Supercrunchers

We re likely to discount discomforting evidence and focus Instead on evidence that supports our preexisting beliefs. Reason 3: Most people are overconfident while they make prediction to the future while some people tend to be undercoating and slow to change In the face of new evidence. And overconfidence becomes severe when the problems become more complicated. 2. The author suggests that equations should not be without some kind of â€Å"over ride† capability. What is the â€Å"over ride† capability? Why does the author suggest this is necessary?Do you agree or disagree with this. Answers: â€Å"Over ride† capability refers to some kind of discretionary escape hatch some way for a human to override the prediction of the formula. Just like the rejection area of hypothesis test. It is necessary because a statistical procedure cannot estimate the causal impact of rare events because there simply aren't enough data concerning them to make a credible estimate. The r arity of the event doesn't mean that it will not have a big impact when the event does in fact occur.It Just means that statistical formulas will not be able to future the impact. In such case, a â€Å"over ride† capability is needed. I agree with this point because it is common in the day to day life. We need to find out when does the statistic way loose effectiveness. Every method has its own drawback; we need to figure out a systematic way to â€Å"automatically' reflect the time that a statistic method fails. 3. The author puts forward that if one concludes that equations are in fact better than experts, then one must ask the question of where experts fit Into the process of prediction.Explain the place for experts In a world where predictions are made by equations. Answers: In a word, the most Important thing that is left to human experts Is to use our minds and our intuition to guess at what variables should and should not be Included in statistical analysis. A statist ical regression can tell us the weights to place upon various factors. Human By Ranchers Chem. Email: [email  protected] Deed experts, however, are crucially needed to generate the hypotheses about what causes what.The regressions can test whether there Is a causal effect and estimate the size f the causal impact, but somebody needs to specify the test itself. In addition, humans are crucial not only in deciding what to test, but also in collecting and. At times, creating the data. Reason 2: Once we form a mistaken belief about something, we tend to cling to it. We are likely to discount discomforting evidence and focus instead on evidence that to change in the face of new evidence. And overconfidence becomes severe when the than experts, then one must ask the question of where experts fit into the process of reduction.Explain the place for experts in a world where predictions are made by equations. Answers: In a word, the most important thing that is left to human experts is to u se our minds and our intuition to guess at what variables should and should not be included in statistical analysis. A statistical regression can tell us the weights what. The regressions can test whether there is a causal effect and estimate the size humans are crucial not only in deciding what to test, but also in collecting and, at