Natural Disasters Vs Earthquakes - 1799 Words

Earthquakes and Hurricanes are two of the costliest natural disasters that have occurred around the world. Both Japan and the United States have been unfortunate to experience many of both, with the largest and costliest of each hitting both countries. While building codes continue to help with loss of life and destruction of structures, there are still forces of nature that will destroy and damage buildings regardless of the efforts that are made. With the cost of repairs increasing the destruction that can happen with any major natural disaster will continue to increase repair costs. Both of these forms of natural disasters will continue to impact both counties in the future with lessons learned with each occurring natural disaster.†¦show more content†¦Over 26 billion dollars in damages was caused from the hurricane. Noaa.gov goes on to state â€Å"It is estimated that 1,250,000 people evacuated from parishes in southeastern and south-central Louisiana.† Due to such a large amount of people who evacuated it probably helped avoid further loss of life. Www.Recovery.com discusses with Hurricane Andrew and the recovery that took place after the event. Over $11 billion was given to Florida and Louisiana in federal aid monies to help rebuild and repair after the devastation that occurred. The Homestead Air Force Base was not rebuilt for a loss of jobs and revenue for the area. 99% of the mobile homes in Homestead were destroyed. Many people used the monies given to them from their insurance to relocate and move. Miami-Dade county had a shift in population where people where over 270,000 people moved out of that county while Palm Beach county had an increase in population in that same time frame (1990-2000) of over 100,000 people. (www.Recovery.com). While some areas it took years to recover, other areas never fully recovered as people left. In 1994 the United States had a population of 263.3 million people. On January 17, 1994 the Uni ted States had its largest earthquake based on deaths at 61 and total damage costs at $22.8 million (Abbott p.9). At 4:31 in the morning on January 17, people were woken with an earthquake that had a magnitude of 6.7. This earthquake was on a previously undocumented blind thrustShow MoreRelatedHow Are Natural Disasters Socially Constructed? Essay1333 Words   |  6 PagesWith reference to various examples, discuss how ‘natural’ disasters are socially constructed. While natural disasters such as floods, drought and hurricanes are commonly thought to occur due to environmental forces such as weather, climate and tectonic movements; a deeper investigation into the ‘disaster’ displays other contributing forces. Human factors have a large, if not equal, contribution to the occurrance and outcome of such disasters (Pelling, 2001). As Pelling (2001) argues, there isRead MoreCulture of Australia and Corporate Social Responsibility906 Words   |  4 Pagesprogramme during one of the world’s most horrifying disasters – the Sichuan earthquake which happened on 12th May 2008. BreadTalk specially created Peace Panda, a Panda Bear shaped bun with four different expressions symbolising the terror of the 7.8 magnitude earthquake as a support to help the disaster. The organisation contributed 100% of the proceeds from sale of â€Å"Peace Panda† to the Chinese Embassy and Red Cross Society’s ‘China Earthquake App eal Fund’. This Corporate Social ResponsibilityRead MoreDisaster Prevention And Reduction Strategy2761 Words   |  12 PagesGeneral: Natural disasters are inevitable and it is not possible to get full control over them. 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Test your hypothesis by experimentationRead MoreHawaii vs Florida Living1221 Words   |  5 PagesFlorida vs. Hawaii living Florida vs. Hawaii living Want to find a tropical place to live with warm breezes, sandy beaches, crystal clear waters, and a laid back lifestyle? Florida and Hawaii are arguably the two most sought after tropical places to live. Being raised in Florida and now living in Hawaii I have lived the best of both worlds. Although similar upon first glance, Florida and Hawaii are also very different. How would you choose where to live? It all depends on what you are lookingRead MoreIs Nuclear Power Worth the Risk? Essay1099 Words   |  5 Pagesusage. These factors make the cost of producing electricity relatively low. Even if the cost of uranium rises, the increase in cost of electricity will be much lower. Reliable The uranium fuel is expected to last for another 100 years while coal and natural gas are limited and are expected to vanish soon. Moreover, different to traditional renewable sources of energy like solar and wind which depend on the weather condition in producing electricity, nuclear energy can be produced from nuclear power plantsRead MoreBusiness Continuity Plans And The Disaster Recovery Plan1580 Words   |  7 Pages(BCP) and the Disaster Recovery Plan (DRP) are twin resources derived to preserve vital organization operations when facing an unsuspecting disaster. A disaster can be either natural or man-made. Natural disasters include floods, fires, earthquakes, and lightning strikes. Some of the more common man-made disasters are acts of terrorism, thefts, office violence, and sabotage. However, for business any action that stops or reduces productivity, it is conceived as being a disaster. For example ifRead MoreII-The Fukushima Daiichi Nuclear Disaster The year following the triple disaster of Fukushima was900 Words   |  4 PagesII-The Fukushima Daiichi Nuclear Disaster The year following the triple disaster of Fukushima was a year of self-assessment, self-criticism and adjustment. It is a model of governance that has been highly criticized in Japan. Of course, to avoid panic, the Government had decided not to warn people of the risks they could incur, when it became probable, a few days after the disaster, that the heart of the reactors had melted. But the government itself was misinformed, and oversight agencies thatRead MoreWalcott Vs Kincaid : Views On Colonialism1443 Words   |  6 PagesWalcott vs Kincaid: Views on Colonialism Aspects of both Kincaid’s and Walcott’s literature pieces show great comparison with each other along with a few contrasting ideas. â€Å"A Far Cry from Africa† and A Small Place both demonstrate the movement from colonialism to post-colonialism and describe how the characters feel and are reacting to the major change. Walcott’s poem â€Å"The Sea is History† compares to A Small Place in the way that both pieces of literature deal with history being bias towards theRead MoreNuclear vs. Petroleum (Energy)950 Words   |  4 PagesDillon G. Nuclear Energy vs. Conventional Petroleum Energy Through out the history of the United states the main source of energy has been conventional Oil, Coal, and gas energy, or better known as Conventional petroleum energy. However as the demand for electricity sky rockets the pollution produced from the traditional fossil fuel burning plants is reaching dangerous levels. Gas, coal and oil burning power plants are as of now responsible for half of America’s air pollution (tripod/online)

Gender Wage Gap And Focus On The Discrimination Against...

Title: Equal Pay for Women Purpose: The purpose is to highlight the gender wage gap and focus on the discrimination against working women Thesis: I intend to assert that women deserve to be paid as much as men for the same job by the same employer. Introduction: l. Working for the same employer and in the same kind of job in the US, if we look at averages, women get paid merely 79 cents against every single dollar paid to their male coworkers. A. This indeed is an alarming figure noting that women have come a long way in attaining education at par with men and are extremely competitive in every field that they are working. It is to be noted that 79 cents are calculated on an average basis. B. The actual figures for each different field of work are different and at least in one category; women get paid no more than 67 cents for every dollar paid for an equivalent job to men. C. I have researched relevant data and material, and I am convinced beyond doubts that it is true that gender gap exists, and it is time to do away with it. ll. Not only the percentage of women is low in many job categories, their wages as compared to men doing the same job are also lower. A. An example of their percentage share of jobs is 4% in the natural resources, construction, and maintenance jobs category and as noted earlier, and I have verified it from credible sources that their wages in this category stand at 67 c as compared to a dollar paid to men. B. I have cross checked these figures atShow MoreRelatedThe Gender Wage Gap And Focus On The Discrimination Against Working Women1350 Words   |  6 Pagespurpose is to highlight the gender wage gap and focus on the discrimination against working women Thesis: I intend to assert that women deserve to be paid as much as men for the same job by the same employer. Introduction For the same employer and for the same job in the US, on an average, women get 79 cents for every dollar earned by their male colleagues. This indeed is an alarming figure noting that women have come a long way inRead MoreGender Wage Gap in America1565 Words   |  7 PagesThe Gender Wage Gap in America The gender wage gap has been around since women began having jobs and careers. Though in the beginning the gender wage gap was purely do to discrimination by social stereotypes, now it has become more complicated than that. The issue today has evolved into a complex issue which combines our American culture with business economics. As a result, some are skeptical of the issue and some are very adamant in their beliefs. The issue encompasses not only gender stereo typesRead MoreThe Gender Pay Gap1639 Words   |  7 PagesThe Gender Pay Gap PROBLEM Introduction The pay gap between men and women has fallen quite dramatically over the past 30 years though a sizeable gap still remains, but this headline figure masks some less positive developments in recent years. We are used to each generation of women making progress relative to the one before, but this process has slowed slightly with the better than the previous one(Centre Piece Summer 2006). The gender pay gap measures the earning differences betweenRead MoreGender Inequality During The Civil Rights Movement1480 Words   |  6 Pagesare the same† (Karr 81). Socially constructed gender roles have led to gender inequality throughout society, but sex-based discrimination is most prevalent in the workplace. During the Civil Rights Movement, gender inequality was targeted with a number of movements that promoted equality, including the Equal Pay Act of 1963. This Act requires equal pay for equal work, which calls attention to the unethical practice of paying female employees less in wages than male employees for the same job. It hasRead MoreGender Wage Gap And Gender Inequality Essay1519 Words   |  7 PagesGender Wage Gap Lydia Ogles November 2016 Introduction/Abstract The gender wage gap has been a nationwide problem since women were able to enter the workforce. Women have begun to speak out more about the issue and evaluate what they can do to change the industries and how they personally present themselves to help this change. Currently there is a wide range of opinions on this issue, with some saying it does not exist while others think it will ruin the economy if not fixed immediately. This makesRead MoreGender Discrimination At The Workplace1749 Words   |  7 PagesMatthew Anders Prof. Bross College Writing November 14, 2014 Gender Discrimination in The Workplace In recent years, the issue of gender equality in the workplace and equal pay has been under serious debate. Although there has been significant improvement since when women were first able to work and equal opportunity laws were created, there is still some room for more improvement. The federal government has made laws over the years such as The Civil Rights act, Equal Pay Act and Family andRead MoreGender Wage Gap : Discrimination Or Misinformation1699 Words   |  7 PagesGender Wage Gap: Discrimination or Misinformation In 2014, female full-time workers made only 79 cents for every dollar earned by men, a gender wage gap of 21% according to IWPR Org or Institute for Women’s Policy Research. There is no debate that in the past women have been discriminated against when it came to compensation and wages in the workforce which led to the enactment of the Equal Pay Act of 1963. This a federal law signed by John F Kennedy attempting to amend wage disparity based on sexRead MoreThe Gender Wage Gap Within Society1281 Words   |  6 Pagescounterparts. The gender wage gap has been a real and prevalent thing in our society. Even in the present, women are inclined to get lower salaries than men throughout the world, and most importantly the United States where the constitution says â€Å"all men are created equal.† All salaries are on a weekly basis and percentages are cents a woman earns per dollar a man earns. Though many are currently working to fix the situation, there is much we can do as individuals to stop discrimination in the work forceRead MoreGender And Gender Equality746 Words   |  3 Pagesâ€Å"Behind every great man, there is a great woman.† Gender discrimination is portrayed negatively toward a person, especially of a woman because of her sexual identity. It differentiates from workplace, such as getting less paid for the same profession, to violent crime being committed. On a worldly scale, women are still victims of abuse, rape and violence in modern day societies. Even though there are laws against the discrimination of women, it is really a concerning issue and everyone should beRead MoreLack Of Gender Discrimination On The Workplace1203 Words   |  5 Pages There are numerous individuals who regard gender inequality in the workplace as a myth; however, many companies display an immense resistance to enforce laws that will protect their female employees from unfair and unlawful discrimination. These prejudice actions made against women are b ased on gendered stereotypes that ultimately place women at a disadvantage. These â€Å" Gendered stereotypes, shared at the societal level that describe what men and women are known to be like, influences hiring processes

Dining Plan Proposal Free Essays

Project 2 – Drexel Dining Plan Proposal As a freshmen and an international student at Drexel University, most of my free time is taken up in becoming accustomed to a new country, a new city, and to the culture of Drexel University. Despite attending an International private school back in Delhi and despite having traveled the world, it is only normal that I find the transition from living back home to living at Drexel University, a difficult one. Getting familiar with the system of being a college student in general is an added struggle. We will write a custom essay sample on Dining Plan Proposal or any similar topic only for you Order Now And at first though, most non-vegetarians may not take this into consideration due to a plentiful amount of non-vegetarian food available, but I can tell you from personal experience, food is one of the main factors contributing to homesickness. The day -to-day food available on Drexel’s campus is not varied or appetizing enough for vegetarians, especially international vegetarian students. Each student who purchases the meal plan can dine at certain designated locations on campus. The available dining options on the Drexel University campus consist of the following: a mini cafe in the main building, Ross Commons Take 3, Creese Cafe, Chick-fil-a, Currito, Subway, Kelly Deli, Southern Tsunami Sushi, and Starbucks. This may sounds like many options, but that does not overlook quality, or the fact that vegetarians may not have as many options as those who eat meat. As Drexel has ascended in its rankings, so have the number of students from different states and different countries. This year itself, the percentage of international students at Drexel University went up about twenty-eight percent and is expected to grow next year. (Facts and Figures) A student that purchases any meal plans spends an average amount of around five thousand two hundred dollars throughout his or her university education. A relatively large percentage of these students, whether from the states or international students, are vegetarian as one of the most frequently asked questions on Drexel’s dining website. Drexel Campus Dining) I myself know up to ten vegetarians in the freshmen year itself. The number one complaint I tend to hear, or coincidentally eavesdrop on, in the dining center is about the food. According to my survey these complaints are usually voiced by international students and sometimes by vegetarian, American citizens. I also concluded from my survey that those who dislike the food and live nearby do not feel the need to complain as homemade food and favorite re staurant visits with the parents are just a train ride away. I summarized my issues with the available dining service at Drexel by carrying out confidential surveys of a sample of students who eat at the Handschumacher Dining Center. Of course my survey was favorably given out to international students and it consisted of open-ended questions that cover a few valid issues I personally wanted to know more about. On an average, the survey revealed international students dissatisfaction with the amount of vegetarian or vegan food available at the Drexel dining locations. Although the survey revealed complaints students had about the staff, quality of food, and such, I chose to concentrate on the vegetarian food options. Students explicitly expressed their concern with the fact that vegan food was often confused with vegetarian food. A few students stated their issue with days where more of a variety of vegetarian food was made and other days where more vegan food was made, always more options of one over the other. Of course, non-vegetarian food always seems to be plentifully available. One student wrote on her survey, â€Å" although there is a pasta station that is vegetarian on the whole, the options are very limited. Vegetarians at the dining center can only eat pasta, on certain days very bland vegan wraps are available, and French fries, and the same vegetarian fried rice. â€Å" Another student said, â€Å" the passport section hardly ever has vegetarian or vegan food, which is sad because so many international students are vegetarian and we have to make do with salad and pasta every single day. To this I would like to add an observation I made at the Dining Center and Subway: most of the times, the staff uses the same gloves to touch vegetarian food as they do meat. This is very disturbing to me as I am vegetarian for religious reasons and cannot technically even have meat touched to my food. When I asked students about the other Dining options, Starbucks and the cafe in the main building were immediately opted out of consideration as â€Å"dining. † This leaves the unhealthy options of Ross Commons cheese Pizza and Chick-Fil-A fries. Two other options are Creese and Subway. The two of these are relatively healthier options, but again Subway has only one veggie patty. And Creese Cafe serves only two to three options for vegetarian paninis. But out of all the times I have been to Creese, they are out of one ingredient or the other, which limits the vegetarian options further. For example, when I asked for the Capri panini at Creese, I was told they were out of basil and hence, could not make that panini for me. Out of all the dining options Currito landed up being a favorite for vegetarians on my survey because of its many vegetarian varieties. Even though Currito is one stall that serves good vegetarian options, what about the rest? Vegetarian students I surveyed unanimously agree upon the conclusion that there is not enough variety out of the entire dining service on campus for vegetarian students. It think it is safe to say that a certain percentage of Drexel University students is dissatisfied with the vegetarian dining options on campus. I know I am. Yet, these students are paying for the dining services the same price as any non-vegetarian student. I propose a solution, or many solutions. Firstly, I think the staff should be educated on how to handle food for vegetarian or vegan students. For example, they should start with using different gloves and utensils for meat. Second, I believe the dining hall would be a good start for more vegetarian options as hundreds of students dine here each day. For example, the staff can make sure they do not compromise on the food for vegans or vegetarians. Both these categories should have a plentiful amount. Also, the passport section that serves international food can make sure they have one vegetarian alternative to each non-vegetarian dish they make. And the Asian food section can start searching into more feasible Asian recipes for both vegans and vegetarians. Coming to the options besides the dining center, it may be difficult to open more dining options on campus, so instead each service can find ways to increase its creativity and variety with vegetarian food. Currito can find more than just tofu to substitute meat, or they can cook the tofu in different ways and serve it. Chick-fil-A can look into making breakfast sandwiches. Subway can create more than just the veggie patty, or it can give more vegetable options to choose from. Ross Commons can start serving pizza with diverse vegetarian toppings. Such minor changes may go a long way. This idea may seem new, but it has been done before. Every time a fast food chain opens in different countries, it is altered to cater to the taste and customers of that country. I feel like Drexel should look into doing the same with its chains opened on campus as Drexel is an international University and the vegetarian population deserves first-rate food. (Vegetarian Subs Different Countries, Different McDonalds) (A Picture of other Asian recipes that can be made) How to cite Dining Plan Proposal, Essay examples

Collectively Management Accounting Responsive Decision Making

Question: Discuss about the Collectively Management Accounting for Responsive Decision Making. Answer: Introduction Management accounting is used by the members of the organisation for the purpose of decision making at various levels of management so that management can exercise its control over costs as well as regulate the use of its resources and reduce their wastage, to reap its benefits in the long term. Management accounting might not be legally binding like financial accounting but its increasing popularity in the management world has helped it climb through various ladders of success. Management accounting is a process which uses varied techniques like budgetary control, marginal costing and standard costing and processes the data furnished by these techniques via communication, and hence leaving no ambiguity in setting standards for the employees and therefore motivating them to achieve the desired results. The report gives the understanding of management accounting and its importance in the Victor Reactor Inc. Management accounting Management accounting as a part of process of management focuses on the aspects of an organisation which adds value to its processes by achieving the effective utilization of resources of an organization in dynamic, flexible and in context to competitiveness within and outside the organization. It comprises of both accounting of costs and measurement of performance. It contains all the data which is collected to help in arriving at the decision to be made in production. Importance of management accounting in manufacturing entity For a manufacturing entity, firstly it provides the relevant Information for making decision related to production and aids in planning the manufacturing process, secondly it assists the management in formulating operational activities, thirdly it synchronizes and motivates the managers and other employees towards achievement of organizational goals, fourthly it helps in measuring the performance of activities, managers and employees within the organization and lastly it assess the companys competitive position and provides direction to managers in achieving competitiveness for long run in the Industry. Differences between management accounting and financial accounting Point of difference Management accounting Financial Accounting Users It provides information only for the internal users i.e. management and employees It provides information for both internal and external users i.e. stakeholders Purpose To provide information to management in order to facilitate decision making To draft financial statements to users.` Accuracy of information It provides with a set of estimated data based on certain assumptions It provides accurate data Obligation to prepare It is not obliged by law and conducted to facilitate decision making Preparation of financial accounting reports are mandated by law Frequency of preparation Depends upon the request of management These reports are prepared periodically Confidentiality of information The results of managerial accounting comprise information that is confidential and purposed to be used within the entity. These contain information that is purposed to be public in nature Classifications of costs (types, behaviour, function and relevance) with examples. Classification of costs in terms of types Direct costs: These are the costs which are incurred for the benefit of one specific cost object. This type of cost is directly traceable to a product, service or department. Examples of direct costs are material cost and labour costs. Indirect costs: These are the costs which are incurred for the benefit of more than one cost objects. This type of cost cannot be directly traceable to a product, service or department. These are also known as overheads cost. Examples of indirect costs are: electricity, maintenance costs, rent etc which are benefiting two or more departments or products/services. Classification of costs in terms of behaviour Cost behaviour means how a cost will change with changes in the level of manufacturing activity. Following are the types: Fixed Costs: These are the costs which in total will remain the constant for a specific period of time and over a relevant range of output of production. Fixed costs per unit keeps on declining as the production output increases. Examples of fixed costs are: Rent, rates, insurance and depreciation etc. Variable Costs: These are the costs which in total will tend to change as the output varies. These costs are directly proportional to volume of production. Variable cost per unit remains constant while the total of variable cost keeps on increasing with the increase in production volume. Examples of variable costs are: direct material cost, direct labour costs etc. Classification of costs in terms of function Classification of costs by function which are categorized in accordance to activity which is performed in each function. All such costs of a manufacturing entity may be classified into manufacturing costs, marketing costs, administrative costs, and financing costs which are defined below: Manufacturing costs: These are the costs which are associated with the production of a product. These are the total of direct materials costs, direct labour costs, and costs of factory overhead. Marketing costs: Theseare the costs which are incurred in advertising, promoting and marketing a product or service which in turn contributes to selling efficiency of the product/service. Administrativecosts: Theseare the costs whichare incurred for administration of several departments within the organization. These includes costs incurred in directing,monitoring,and in conduct of operation ofanentityand also costs likeremuneration paidto managers and employees. Financingcosts: Theseare the costs which are incurred in acquiring funds for the operation of an entity. This primarily comprises the interest costs which the company pays on acquired funds. It also includes the cost of credit which is extended by an entity to its customers Classification of costs in terms of relevance Classification of costs in terms of its relevance to planning, monitoring, and contribution to decision-making can be briefly illustrated as below: Relevant costs: These are the costs which serve as a pertinent factor in making a relative decision. A cost is relevant for the decision if the cost in question is respondent to the decision under consideration. These costs are appropriate to a specific management decision. These costs are estimated future costs and differ under alternative course of action for a specific decision. A relevant cost can be fixed or variable in nature. For example: Suppose for a company which is in a process to decide on production of a product either manually or through machines, relevant costs would be cost of labour and machine cost respectively. Irrelevant costs: Theseare the costs which are not affected by the actions of management. These costs are called as irrelevant costs as these do not influence the decision of management and hence should not be considered in a decision-making analysis. A good example of such type of cost is sunk costs, these costs are the costs which have already been incurred and are now irrevocable like cost of survey which has already been made to judge if the product has a market in the industry or not. Variance analysis Variance can be termed as a deviation of actual cost from the cost which is set as a standard also known as the standard cost while the standard costing act as a measurement benchmark for determination of variances which helps in evaluating the performances Variance analysis means the process of analysing variances so as to determine the causes behind the deviations. The variances can be favourable or unfavourable, when the actual performance is better than the standard performance, it is termed as a favourable variance and when the actual performance is below the standard performance, we call it a unfavourable variance. The variances are measured broadly keeping in mind the various types of costs and the revenue. On the basis of costs: Variances are measured for the following cost categories: Direct costs i.e. the Direct Material and Direct Labour costs and the Indirect costs i.e. the variable and fixed overheads Direct Material Variances and Direct Labour Variances could occur due to price at which material is procured or the labour is employed and the quantity usage of material and labour in production of the product. Variances measuring the price differences in material and labour costs are termed as Direct Material and Direct labour price variances. While the variances measuring the usage variances in material and labour quantity are termed as Direct Material and labour usage or efficiency variances. While analysing the variances, the commonly measured variances also include labour idle time variance which measures the idle time labour cost deviation from the estimated standard. Similarly to measure the deviation in fixed and variable overhead similar concept is used. Variances measuring the price differences in spending of variable and fixed overheads are termed as Variable and fixed overhead price variances while the variances measuring the efficiency of these overheads are termed as variable and fixed overhead efficiency variances. While the calculation of indirect cost variance is similar to that of direct cost variances, the interpretations of these variances differ. Deviation in sales revenue are interpreted using the sales price variance which measures the deviation in actual and standard price of the product and the sales volume variance which measures the deviation in actual and standard volume of the product sold. Problems and limitations that need to be kept in mind while conducting a variance analysis. While the variance indicates the deviations from a standard which is an expected estimate, it does not indicate management on what actually went wrong. There could be various possible reasons for the occurrence of variances. For instance, an unfavourable direct materials efficiency variance could be a result of poor design of the finished product and/or process of manufacturing, problems associated with the materials supplied in terms quality or availability, carelessness by employees owing to improper training etc. Another factor that further complicates the analysis is the inter-relationship among the variances. For instance, due to purchase of inferior quality of materials, a favourable materials price variance would occur along with an adverse materials efficiency variance. It could also result in an adverse labour efficiency variance as it may slow down workers. Finally, variance analysis tells management if the entity has performed better or worse than the planned performance, but it does not indicate on the intensity of the situation. For example, suppose the material price variance for a material was adverse, it may be possible that if the procurement department had not taken various measures such as placing larger order to curtail the adversity of rising material costs, the situation could have been much worse. Operational budgets and its advantages Budget is a statement formally prepared to set aside the financial resources in conduct of specific activities for a given frame of time. An operational budget is the statement which sets aside the estimated financial resources for various operations in an entity. Following could be the various types of operational budgets: Production Budget: This budget as a control tool helps in providing the details about what should be the quantity of production for a particular and when should the quantity be produced. Since inability to meet customers demand could have adverse impact on revenue while keeping excess inventory would cost an extra carrying cost, so the production budget helps in maintaining the balance. Raw Material Purchase Budget: It states the quantity of raw material to be purchased in order to meet the production needs and the timings on which the prescribed quantity is purchases and also to strike a balance between supply and demand. The Direct Labour Budget: It provides details about the production hours which would be required along with the wage rates commensurate to the skills of the type of labour in order to produce the desired units of output. This will also include all other labour related costs and helps to monitor the efficiency and cost effectiveness of labour cost. The Overhead Budget: It summarizes the cost and timing of overhead expenditure that will be required during a particular frame of time for which the budget is being prepared. This budget will help to control and monitor the spend of various fixed and variable overheads and thus helps in enhancing the profitability of the product. The Cash receipts and disbursement budget: The receipt budget which would depend upon the timing of sales and collection from debtors. It is prepared considering the credit period in case of credit sales while cash is received immediately in case of cash sale, it also considers other sources that may generate cash receipts during the period of budget The disbursement budget like the receipt budget depends upon the timing of purchases and payment to creditors. It is prepared considering the credit period in case of credit purchases while cash is paid immediately in case of cash purchase, it also considers other sources that may require outflow of cash during the period of budget These cash budgets help us determine the expected inflow, outflow and balance of cash and which would further enable the management to determine its cash needs. The Profit Plan or pro-forma income statement and the pro-forma Balance sheet: It provides an indication of the level of income that can be expected while the balance sheet provides managers with an idea of financial position of the entity Other advantages of budgeting Budgeting process with specified business timelines tends managers to focus their attention in operating in a more disciplined and controlled environment. Budgeting enhances important principles of how an entity would communicate and coordinating among various operations and departments of an organization. Budgets provide a roadmap for future actions. Conclusion and Recommendation It can be concluded that collectively management accounting serves as a tool for prompt and responsive decision making, through its various tools and techniques as discussed in the assignment above it helps the senior level of management in decision making. While we classify costs on the basis of our requirement, it can be in terms of their behaviour, relevance or interconnectivity to various operations and departments. Standard costing and Variance analysis further assists in analyzing the results to aid decision making. Budgeting also serves as a control tool which helps the management to further take and compare outputs of variance analysis, it also provides data inputs to conduct variance analysis and estimating the budgeted income position and asset position of the entity. References Ducu C,Enache T,Stefan P, 2016. Managerial Accounting Vs Financial Accounting In The ihttps://fse.tibiscus.ro/anale/Lucrari2010/067.%20Ducu%20Corina.pdf [Accessed 26 Mar. 2016]. Fabozzi, F. and Drake, P. (2009). Capital Markets, Financial Management and Investment Management. New Jersey: John Wiley Sons,p.244-279 Reilly,F. and Brown,K. (2012). Investment Analysis and Portfolio Management. Texas: Reilly Brown,p.315-390 Surani C, 2016, Management Accounting Practices And The Role Of Management Accountant: Evidence From Manufacturing Companies Throughout Yogyakarta, Indonesia ,[online] Available at: https://sibresearch.org/uploads/2/7/9/9/2799227/riber_b13-243_616-626.pdf [Accessed 26 Mar. 2016]. com, 2016. Classification of Manufacturing Costs and Expenses, [online] Available at: https://www.microbuspub.com/pdfs/chapter4.pdf [Accessed 26 Mar. 2016]. Ram,V and Bala,S. 2012, Strategic Financial Management. Chennai: Snow white prime knowledge series, p266-298. Accounting-financial-tax.com, 2016,. Cost Classification All Type , [online] Available at: https://accounting-financial-tax.com/2009/10/cost-classifications-all-types/ [Accessed 26 Mar. 2016]. org, 2016,Standard Costs and Variance Analysis. [online]. Available at: https://www.cmaontario.org/portals/6/Media/CaseExam/Standard%20Cost%20And%20Variance%20Analysis.pdf [Accessed 26 Mar. 2016]. plu.edu, 2016, Operational budget, [online]. Available at: https://community.plu.edu/~mgtacctg/operational_budgeting.htm [Accessed 26 Mar. 2016]. org, 2016, Budgetary control, [online]. Available at: https://www.fao.org/docrep/w4343e/w4343e05.htm [Accessed 26 Mar. 2016]. org, (2016). The Advantage and Disadvantage of Budgeting, [online]. Available at: https://www.bifa.org/library/freight-management/finance/budgeting/the-advantages-and-disadvantages-of-budgeting [Accessed 26 Mar. 2016] Black, F. (1972). Capital market equilibrium with restricted borrowing. Journal of Business, p 344498