What to Expect From Essay Topics for the Giver?

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Research Paper Topics on Soccer - Some Tips That Can Help You

Research Paper Topics on Soccer - Some Tips That Can Help YouYour soccer-related research paper topics should be based on real-life experience. It is not enough to get ideas from soccer experts, but make it a point to involve yourself in the game itself. The following article will provide you with suggestions that will help you create a more interesting and educational soccer research paper topic.Write about your passion, not about your academic goals - One of the most significant tips when it comes to research paper topics on soccer is to write about something that you are passionate about. The main reason for this is that passion is what keeps people interested in their topics. A simple example of this is: try to write about one of your favorite soccer players or try to learn about a soccer sport or activity that you can relate to.Make it specific - Include an action or set of actions that you have done with a specific club or team. You will be able to better know the knowledge tha t you have acquired through your research as it will not just cover general information. Try to include specific actions that you have done as it will make it easier for your readers to relate to you and understand your work.Emphasize facts and knowledge - Make sure that your research paper topics on soccer are written in a way that makes the subject matter clear and easy to relate to your objective readers. Stick to one topic. Although it may sound difficult, it will help you avoid tangents and topics that are too long.Don't forget to use visuals - Since research paper topics on soccer includes information and data, make sure that you are able to provide the reader with visual images and illustrations. This will help your readers visualize the situation that you are going to discuss. You can also use text as well as pictures, but you need to find a balance between visual and text that is still easy to understand.Your Soccer Research Paper Topics on Soccer is just like writing any o ther research paper. When you are writing about soccer, keep in mind that you must stick to the topic. It is not necessary that your paper will be exceptional if it doesn't have an interesting subject.After you have listed some of the things that you need to remember when writing about your chosen topic, the next thing that you need to consider is how to find a good research paper topic. In order to find great topics, you can consider asking for help from experts who write about soccer.The truth is that you can take up many different research paper topics on soccer by simply thinking outside the box. However, make sure that you find out which option will be best for you.

Essay Writing for a College or Career Readiness Exam

Essay Writing for a College or Career Readiness ExamThere are many resources available that are going to assist you with your writing your essay on an exam. These sample essays have been created by professionals for professionals who have the skill of writing a more advanced essay. The experts have been able to help you through the numerous steps involved in writing an essay for school, college or just an exam.Many college students often ask themselves, how do I write an essay? Writing an essay on a college or career-readiness exam is a tremendous challenge, and the experts can help you learn how to excel on your test.This is exactly what they do, and they have helped thousands of students make their mark at the college or career-readiness exam. These are good tips on how to make your exam prep easier, but if you are one of the students that do not yet know how to get through the exam, don't worry as you can find yourself answering those same questions.You need to learn what topics a nd topic areas will be covered during the exam. As a college student, you should already know a little about the entire job market and the different careers. So you should know a little about what the exam will cover so that you can focus on your chosen topics.Using these sample essays as a guide and learning about each topic can definitely help you with your writing your essay. Most colleges require that students take an essay on college-readiness exams and knowing what topics are covered in the exams can really help you focus in on the topics.When you are writing the essays, keep in mind that most readers will not be able to see what you are writing, so you need to be quick to answer any questions. You need to compose your essay on a topic that is interesting, and it will save you time for your essay preparation.Writing an essay is not as easy as it seems, and in fact the essay has become an art form that few people can master. The experts have been helping many students with thei r essay preparation, and there are many sources online that can help you too. The right approach will definitely help you with your written assignment and help you get through your essay exam.

Defining Of The African Diaspora - 1930 Words

Defining African Diaspora When defining Diaspora, many aspects can come to mind. The topic of Diaspora usually brings to mind certain ethnic groups, but that of African and African-Americans typically are not considered. Diaspora is defined as â€Å"To refer to migrants who settle in distant lands and produce new generations, all the while maintaining ties of affection with and making occasional visits to each other and their homeland.† Usually those of Jewish heritage are known for Diaspora, but around the year 1963, at a conference on African history at the University of Dar es Salaam in Tanzania, George Shepperson and Joseph E. Harris first coined the term of the African Diaspora. This identity was very important and became heavily†¦show more content†¦In order to completely understand the emphasis of the Black Atlantic, one could say that it can be described as a connection, showing its importance throughout history. Every historical journey, relationship, and instance that Africans have had encompasses and explains exactly what the Black Atlantic should. The African Diaspora and the Black Atlantic are both different and similar and they help to show the origins, migrations, and history of the African people. Without understanding both, it would be hard to fully imagine every aspect that pertains to African heritage, but because of both terms, opportunity to learn and appreciate have become available. The Analysis of Race by W.E.B. Du Bois and Howard Winant The concept of race has always been a prevalent part of history and has been a driving force in defining and understanding certain time periods. The analysis of race is something that is not always easy to do, but W.E.B. Du Bois and Howard Winant allowed readers to better understand within their articles. Du Bois begins the article by stating the ever changing and developing concept of race. He also gives the idea that race was a way to divide the masses, and this concept is clearly seen throughout several events in history. Because this divide, many would try to distinguish by physical characteristics rather than the personality, morals, and experience that a person could offer. Further into Du Bois’ argument, the

Lou a Tea Wholesaling Company Owner Case Study

Question: Assignment Question Lou, the owner of a tea wholesaling company, decided about a year ago that product quality of some imported sources was too variable. To improve consistency of the product Lou decided he would employ someone to test samples of imported product and grade them. His retired Uncle Jim came to mind. He was a food scientist and using his skills would also assist him by keeping him busy. Lou approached Jim with an agreement titled Contract for Services, devised by the companys lawyer. It involved Jim agreeing not to be an employee and to have his own incorporated consulting business. The agreement included a clause suggesting he was not permitted to delegate any of his responsibilities at the tea company to another unless he got Lous approval. The agreement also stated he would be paid a set fee for each day he came to the warehouse and worked and a monthly pay date. Although not mentioned in the agreement, Jim was to pay his own taxes and make his own superannuation contributions. He was supplied with a warehouse uniform and all the equipment he required to perform his scientific analysis. Jim worked from 9am to 5pm Monday to Friday for eight months without a day off and then suffered a serious heart attack. His daily routine at work had involved him checking in with Lou for instructions on the days work, Lous oversight of his progress during the day and an assignment of administrative support to support him at particular times. Toward the end of the financial year Jim was asked to supervise a couple of juniors in stocktaking processes, for about four weeks, but he had otherwise stuck to his scientific analysis. One of the policies Lou added to the Employee Handbook last year was an anti-bullying policy. The policy required a particular procedure to be followed if bullying was detected by any member of staff, and indicated management would treat the behaviour, if confirmed on investigation, as serious misconduct and it was likely to result in disciplinary procedures being taken. The policy was not included in staff contracts but they were all alerted to it on commencement of their engagement. Jim had reported the two juniors he had supervised as bullies just before his heart attack. He made a written complaint stating their language was repeatedly demeaning to him and their regular slapping of him on the back was so aggressive it upset him to the point he was ready to resign. Lou was aware of his issues with the young workers and wonders what he is required to do now that Jim is convalescing and may not return to work. Advise Lou whether Jim could be regarded as an employee, despite their written agreement. He is contractually bound to follow the Employee Handbook procedure in relation to the bullying complaint. He has breached any common law duty to Jim even if he is not contractually bound to follow the Employee Handbook procedure. Answer: This case study is regarding Lou, a tea wholesaling company owner. The owner of the company decided to hire an individual for the purpose of testing the quality of some important products. By virtue of that Lou goes to his uncle, Mr. Jim, a food scientist. Lou wanted to use the skill of his uncle. A contract titled contract for services, has been drafted by the lawyer of the company, which was presented by Lou to his uncle Jim. Generally a contract with a title of contract for services means an agreement by which a person gives his consent to serve the organization as an independent contractor. Because of this, no relationship of employer and employee between them exists. But the employee has not been covered in accordance with the Employment Act. Therefore Jim has not been recognized as an employee of Lou, as a condition in respect of that was mention about it (Richards, 2007), irrespective of that the company hired Jim at a fixed salary. Due the existence of the contract Jim cannot be considered as an employee of the company, considering him as an employee shall contravene the contract. Second issue in this case study is regarding the bullying. To protect the interest of the employees, Australian legislatures has enacted the Workplace Safety and Health Act, it applies in Western Australia (Barling and Frone, 2004). The enactment ensures that no employee shall be exploited by the employer in any means. In order to establish a strong working culture and good habits in the workplace, the statute plays a very important role in Western Australia. The main issue in this case is the Anti bullying issue. Bullying remains a very critical matter at most of the workplaces. Bullying signifies an organized operation of interpersonal devastation that provides a huge impact on the physical, mental and psychological condition of a person. This has become a common factor in educational institutions, workplaces etc (BaÃÅ' ez and Mac Adam, 2008). According to surveys, the main reason behind bullying in workplaces is it is not yet illegal, and if it is illegal in some parts then al so it is practicing freely due to non-execution of the rule. Here, Lou is contractually responsible to acknowledge the employee rulebook procedure in respect of the bullying complaint. As the anti bullying policy introduced into employee handbook procedure but not in staff contracts. For that reason Lou is not contractually liable to follow that procedure, but it was his responsibility to listen to the complaints of employees regarding any type of bullying. In Employee Handbook Procedure it is mentioned that how employees, irrespective of their job or role in employment should act in the organization. This is provided to each and every employee of the company. If the anti bullying policy is to be followed in accordance with the employment handbook procedure then it will be ambiguous for the authorities for providing remedies in respect of bullying (Gregory and Temperton, 2008). Anti-bullying policy has been added by Lou, himself into employment handbook procedure in previous year. But there was no action taken in respect of the complaint launched by Jim. According to the rule introduced by the owner of the company regarding the anti bullying procedure, if there is any detection of bullying or any complaint launched by any employee in respect of bullying then such a complaint should be taken into consideration and necessary steps are to be taken by the management authority of the company, but all the steps that are going to be taken must comply all the condition mentioned in the employment handbook procedure. If during or after completion of investigation it is found that a act of bullying has been done then such a person who will be responsible for the act bullying shall be penalized in accordance to the policy and prescribed rule of the company. But the complaint launched by Jim regarding the act of bullying which was done by two fellow employees are not b een inquired or entertained by any means by the management authority of the company. In accordance to Australian law, compensation should have been awarded to Jim, as no steps has been taken in respect of the complaint launched by Jim in several time. There number cases launched where the management authority has been alleged for incompetency in dealing with the matters concerning bullying factors, the company was also had to face the allegation that the management authority is quite reluctant to discharge their duties regarding bullying issues. In the year 2006, Justice has been given to them in the form of a lump sum amount of compensation in relation to the complaints launched regarding bullying. Here, the court awarded that the defendant have to pay the salary of 38 weeks at the rate of $627 per week. Thirdly, a common law obligation has been breached towards Jim, has been breached by Lou, though he is not bound to follow the employment handbook procedure. In spite of the fact that he is not contractually liable to follow the employment handbook procedure but as an employer he cannot escape from his responsibility, for that reason listening and taking necessary actions for the complaints in respect of the act constituting bullying, is one of the primary responsibility of Lou as an employer. It is the duty of the employer to point out the main culprits. It could reduce the product ability and work atmosphere among the employees due to the lack of care from the part of Lou. The main object of the Workplace Health and Safety law is to provide adequate protection to the employees in the course of their work, reducing the risk factors among the employees in the workplace are also one of the basic objects of the statute. Risk factors can be reduced by restricting acts of bullying and ot her kind of accidents in lieu of high penalties (McDougall and Gillam, 2014). The main features of the law governing health and safety at workplace are : Ensuring safety for every employee irrespective of their post and role in the company. No comprise with the safety measures of the employees. Proper remedies must be provided in case of any complaint. Wrong doer shall be strictly penalized (Australia: employment law, 2010). In Australia, in any statute or in any other way, no apparent definition of bullying has been provided, specially the elements which constitutes bullying is not provided, this is one of the major problem in this sector specially for the employees, as bullying may be created in many ways but no definite way is specified. More than twenty thousand students have been subjected to bullying severally in various schools across the territory of Australia. Most of the employees have to experience this menace due to not proper implementation of existing statutes as well as lack of enactment of newly framed laws in respect of this menace. Irrespective of caste, creed, gender, religion most of the employees and some students too are subjected to bullying activities. In various surveys it has been revealed that it is quite normal to happen but it could arise dare consequences in various matters (Creighton and Stewart, 2005). According to Understanding Employment Law by Van der Waarden, bullying is one of the biggest menaces which may destroy the work environment in any organization. If it is not stopped at time, it may take the life safety of the employees. It also suggests that for enthusiastic work surroundings problems like bullying must be eliminated. In course of employment and work environment of any organization bullying provides a negative impact upon the employees. Here, Lous reluctant behavior in respect to the culprits of the bullying activities gave them pointless advantage in relation to the aggressive behavior towards others, Lous this behavior might work as a booster for the mentality of the culprits for the act. In consequence, Jim suffered from a major heart attack. Some of the more destructing effects of bullying are: 1. Decreasing attendance graph because of the dread and fear in the middle of employees, leads to hampering of work: One of the major consequence of bullying at workplace is decreasing attendance. It refers that most of the employees prefer taking leaves due to the panic than coming to work. Hence, it affects the productivity of the company (van der waarden, 2004). 2. Increased anxiety in the middle of junior employees which leads to greater than before errors during work: another impact of bullying is increasing anxiety. This is one of the symptoms which stated in case study that Jim might not have suffered from heart attack if proper action has been taken by the company (Rule, 2002). 3. Drop off performance among employees and less productivity at work: activities relating to bullying, reduces the performance of employees during their course of employment. It may become very devastating, like in the case of Jim. He had to abscond from work due to cardiac attack and there are possibilities that he may not come back (Camardella, 2004). 4. De motivation: Bullying de motivates the employees to their work (Corte and Verschaffel, 2006). 5. Amplified time spent upon complaints: Due to the complaints relating to bullying cases, management had to spend more time for those complaints, without thinking about the growth of the organization. Here also, there might be possibilities that many similar type of cases of bullying may go without necessary action. Hence, it is common law responsibility from the part of Lou to take necessary actions against the wrong doer though he was not liable contractually. Jim might have not suffered from cardiac attack, if necessary steps would have been taken. References Australia: employment law. (2010).Commonwealth Law Bulletin, 36(1), pp.137-163. BaÃÅ' ez, F. and Mac Adam, A. (2008).A universal history of the destruction of books. New York: Atlas Co. Barling, J. and Frone, M. (2004).The psychology of workplace safety. Washington, D.C.: American Psychological Association. Camardella, M. (2004). Employers beware of the broad reach of HIPAA's privacy rule.Employ. Relat. Today, 30(4), pp.95-102. Corte, E. and Verschaffel, L. (2006).Instructional psychology. Amsterdam: Elsevier. Creighton, W. and Stewart, A. (2005).Labour law. Annandale, N.S.W.: Federation Press. Gregory, S. and Temperton, E. (2008).Tolley's discrimination in employment handbook. London: LexisNexis Tolley. McDougall, R. and Gillam, L. (2014). Doctors judgements and parents wishes: ethical implications in conflict situations.The Medical Journal of Australia, 200(7), p.372. Richards, P. (2007).Law of contract. Harlow: Pearson Longman. Rule, C. (2002).Online dispute resolution for business. San Francisco: Jossey-Bass. van der waarden, n. (2004) (3rd ed.).

Research Survey on Use of Opportunity Cost in Project Evaluation at Selected Commercial Banks in the Kingdom of Bahrain Essay Example

Research Survey on Use of Opportunity Cost in Project Evaluation at Selected Commercial Banks in the Kingdom of Bahrain Essay RESEARCH SURVEY ON USE OF OPPORTUNITY COST IN PROJECT EVALUATION AT SELECTED COMMERCIAL BANKS IN THE KINGDOM OF BAHRAIN A RESEARCH PAPER PRESENTED TO THE SCIENTIFIC RESEARCH AND DEVELOPMENT OFFICE AMA INTERNATIONAL UNIVERSITY KINGDOM OF BAHRAIN BY MUBEEN FATIMA August, 2012 ABSTRACT Accounting and Economics work for two different purposes. Today managerial decision making uses economics, as well as accounting concepts, methods practices of scrutiny given by decision sciences. Literature shows that there are four basic tools and techniques of decision making used by economists, these are; augmentation, statistical valuation, projecting, numerical study, and game theory, most of which are equally procedural in nature they helps us to gather the idea of how decisions are made in economics. Since resources are limited relative to wants, the usage of resources in one way hinders their use in other means. This implies the cost of opportunity, which is lost, is actually the profit of whose output is given up, this indicates that, lost time, satisfaction or any other benefit that provides usefulness should also be taken as opportunity cost. Opportunity cost in literature is the cost referred as the next-best choice available to a rational consumer who has to select between a number of mutually distinct projects. It is, thus the key concept in economics. It has been illustrated as conveying the basic relationship between deficiency and choice. Yet its relation to the economic profit is seldom discussed. We will write a custom essay sample on Research Survey on Use of Opportunity Cost in Project Evaluation at Selected Commercial Banks in the Kingdom of Bahrain specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Research Survey on Use of Opportunity Cost in Project Evaluation at Selected Commercial Banks in the Kingdom of Bahrain specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Research Survey on Use of Opportunity Cost in Project Evaluation at Selected Commercial Banks in the Kingdom of Bahrain specifically for you FOR ONLY $16.38 $13.9/page Hire Writer CHAPTER 1 INTRODUCTION Background of the Study Prior research work provides us the idea that opportunity costs is one of the key differences between the concepts of economic cost and accounting cost. Being treated as a cost, opportunity cost had always been considered vital in calculation of the true cost of a project has always effected a management accountant decision However the modern economists, particularly the Austrian school of thought treats opportunity cost as something that has neither existence nor has any importance in decision making. Though the field of economics gave birth to the concept of opportunity cost, the awareness about assessing the second best alternate is now taken over by management accounting, today this concept is being taught in academic graduate courses of economics however; in practice, the economists today emphasize on mathematical techniques in decision making there by ignoring various conceptual factors like opportunity costs and worth of projects being missed. Evaluating opportunity costs is important to find out the true cost of any project under consideration. If the financial worth of second best alternative of an investment project is low, then, overlooking that opportunity costs, gives an impression that benefits of next best alternative, cost practically nothing. The invisible opportunity costs then become one of the hidden costs of that particular project. Mr. John Stuart Mill, a British philosopher and a civil servant was the first man to give the idea of Opportunity Cost in his economic theory of free markets as well as explaining his concept of liberty and an individual and freedom of choice. Opportunity costs are thought of as the retrospective costs that cannot be recovered in the field of Economics and Corporate decision making. Opportunity costs are occasionally compared with â€Å"potential costs† which obviously are the future costs that may or may not incurr depending upon the decision taken. Both past aswell as prospective costs can be either static or dynamic Austrian school of thought pay attention to the concept of opportunity costs on both sides of the market links very deeply to the importance of finance and economic profit estimation in their model of the market process. They argue that the money of an investor having opportunity cost means that his money has many uses but the uses are not unlimited. With the assumption of a market with seamlessly exclusive capital goods, those goods will have no opportunity cost as every exclusive good has only one yield. In a market of seamlessly standardized capital goods, they have no opportunity cost because all of the goods are same in terms of use and benefit thus can be used equally well for each yield. In practice the calculation of project cost by an accountant is different from that of an economist. This variance is not grounded in different fundamentals on what to assess or how, but lies in the basic difference in understanding-of costs and profits. However if opportunity costs are not ignored by the economist then while calculating the GDP of Country the economist must also consider the large scale pearl diving industry in certain areas of Bahrain. Statement of the Problem The study aims to discuss the relevance of the concept of Opportunity Cost in project evaluation procedure adopted by commercial banks in Kingdom of Bahrain. The opportunity cost has different importance in the opinion of economists and accounts professionals and therefore the use of this concept in project costing . This research will attempt to find out importance of Opportunity cost while considering an investment proposal. Specifically it sought to answer the succeeding questions. 1. What is the status of the opportunity cost in project evaluation at Selected Commercial banks in Kingdom of Bahrain? 2. What are the banking operations where opportunity cost is deemed important by Commercial Banks in Kingdom of Bahrain? 3. What are the factors effecting the importance of opportunity cost faced by Commercial Banks in Kigdom of Bahrain? 4. What are the problems encountered in application of Opportunity cost concept by the Bankers while evaluating a project? Assumption The study assumed that the respondents are honest in answering all the questionnaire Significance of the Study The study is beneficial to the following: Decision Makers: the study will help the decision makers in Commercial Banking industry to find the true cost of a project and therefore finding the true profit or loss generated by it Future Researches: the study will help in relating the two concepts i. e, opportunity cost and Project Costing by using the quantitative methodology of research. It will further help in decision making and project evaluation for the accounts Managers and Economists. Scope and Limitation The aim of this study is to deliberate the significance of the concept of Opportunity Cost in project evaluation procedure adopted by Commercial banks in Kingdom of Bahrain. The opportunity cost has different importance in the pinion of economists and accounts professionals and therefore the use of this concept in project costing . The study includes Bank Officers at selected Commercial Banks working in Kingdom of Bahrain. The target population is Executives and managers (top and middle level ) who are directly involved in decision making This research focused on finding out importance of Opportunity cost while considering an investment proposalstudy is conducted in Commercial Banks of Bahrain, the re sponses therefore reflect the most important sector of Bahrain economy. The study is conducted in the natural settings i. during the business hours and responses are taken while the samples are on their work places, therefore 100 percent reliability of responses is not possible due to various un controllable distractions. The period covered by this study is January till December 2012. All the data is collected in Bahrain and responses therefore will represent the local population. Definition of Terms Opportunity Cost (OC) The cost of an alternative that must be forgone in order to pursue a certain action. Put another way, the benefits you could have received by taking an alternative action (John Stuart Mil) Economic Value Added (EVA) A measure of a companys financial performance based on the residual wealth calculated by deducting cost of capital from its operating profit (Stern Stewart) EVA is also referred to as economic profit. CHAPTER 2 Review of Related Literature and Studies Foreign Literature Mankiw ( 2000) from Harvard University USA and the author of† Principles of Microeconomics† explained here that Economic profits are calculated by using both explicit as well as implicit costs however Accounting profits are calculated using only explicit costs. Therefore , accounting profits are higher than economic profits Neale( 2001) have found that due to forgoing opportunity costs, delayed decisions can be seen as option between certain loss and the risk of greater or zero loss. Chung, (2005)from Princeton University have conclude in their work â€Å"The Opportunity Cost of Admission Preferences at Elite Universities† that economic cost of a decision relies on the cost of the project that is selected and also the profits that the second best alternative project may had given if selected. This perspective of scarcity of resource leads to the dimension of opportunity cost. Hawkins et. al ( 2008 ) in their article â€Å" Cost and benefit Analysis† are of the view that the â€Å"next best alternative† is an important concept in cost and benefit analysis (CBA). The benefits gone by not implementing the second favorite choice are known as opportunity costs. Opportunity costs are relevant in calculating costs of a project. Opportunity costs help in economic scrutiny. In financial investigation market values are used as the market price for man power has the market value same as a person’s wage The Indian scholars are also of the view that Opportunity Cost of Idle Capacity Zero, supporting the work of (Coase 1938). The researchers of M2 Presswire publications have found that opportunity cost of ignoring the markets, have disastrous results as eBay failed to beat yahoo in this regard. Buchanan (1969 ) says that it is just to bind the term opportunity cost to this idea that only decision changing cost represents an analysis of given up â€Å"opportunities. † and to invent other vivid terms to mention ecision altering cost in a logic of choice and to the objective cost of the predictive theory. Hebert (1985 ) gave a very comprehensive idea about the market value. Yet his belief of fundamental value has quite possibly been a red-herring in the antiquity of economic analysis, according to him market value is sensitive to elements other than â€Å"on record costs† few of them are independent. Horwitz (2010) identifies the partiality of opportunity costs on either si des of the market connections so well to the importance of capital and economic calculation in the Austrian theory of the market process. Aherns (2008) says that management accountants’ most prior duty is to relate the available reserves with the future dealings of the business. Whereas this process is rather simpler in economics to determine which of the available alternates is going to pay off highest future cash flows Kearing et. al (2005) are of the view that multiple allocation of capital funds , commercial analysis and manufacturer side opportunity costs are all the unified part of the Austrian ideology. Woodbery (2000) says that the true opportunity cost of using the additional capability is the change in the worth of the firms choices. By emphasizing on the state-contingent nature of best decisions, his framework distinguishes that the cost is not always identical to the present value of explicit venture or manufacturing decisions. Taylor (2005) suggests that many proficient economists may not completely comprehend opportunity cost. Frank (2005) said that comparative prices helps in finding out the comparative worth of ordained opportunities. His hypothesis is based on an indepth study of consumer indifferense curves. According to the author the economic cost is virtually the opportunity cost. Samuelson( 2009) puts stress on a close link between opportunity costs and cost of available resources. Economic cost consist of not only the noticeable monetary purchases or on record financial transactions but also more indirect opportunity costs, such as the profits on the manpower supplied by the owner of a resource company and other returns of similar nature. The factors mentioned are firmly controlled by the quotations available and demand in competitive markets. Henderson (2011), said that by â€Å"opportunity cost† of a resource, the economist mean the financial worth of the second favourite utilization of the available resource. Opportunity costs as in (Lawrance Gitman 2000) are those profits or returns that could be obtained from best alternative use of an a retained asset. So opportunity cost is the cash that shall not be obtained because of engaging an asset in project under consideration. Due to this, opportunity cost should be included as an expense or loss while doing the project evaluation. Raftery et. al(1999) writes that consideration of opportunity cost is essential for the economists while determining the costs. As resources are less compared to the needs, so application of resources in one profitable project hinders their use in other profitable pojects Bauman (2011) says that opportunity cost is the second best choice, he said that it is difficult to clearly frame the opportunity cost as identifying second best choices is a knotty matter. According to him the concept of opportunity cost can only be clearly defined in academic problems as in practical field a project â€Å"price to worth† calculations are complex Kimberly (1998) said that computerized accounting systems today solely emphasize on cash in and out of the firm, this eventually attracts clever dealers to dump credits that produce a big accounting profits. By the introduction of opportunity cost in persuit of calculating the true costs enforces further control on reporting process. Such concept implication helps the auditors to identify the fake earnings shown in the financial statements made in the year end. Recklies (2001) argues that from economic perspective the cost include all those expenditures that are crucial for perpetual succession of a business as as going concern, it also consist of the reimbursement for owners in shape of profit so that they maintain their investment portfolio within the firm. Marshall (2009) identifies the income as a total of personal skills, capital funds invested, assets possessed and the reputation of the business. Leeson (2008) has explained in his research work the uses if the concept of uncertainty and derives from this concept of the value of information and how it can be calculated. And emphasized upon the role of management accounting in the decision-making Berntell (2005) have focused on the optimum utilization of scarce resources like water to give maximum utility by reducing various costs and losses. For which economist must make a clear cut cost and benefit analysis Dmytrenko (1997 )has elaborated in his price to value investigation the opportunity cost of increased automation in a firm via changing the human resource by computers and equipment Caplan (2003) says that the term opportunity cost is sometimes confusing. Sometimes it is used to submit to the profit foregone from the next best option, and Often it is used to mention the difference in benefit of decision made and the benift of second favourite decision that is given up Fraker( 2006) suggests that EVA is a unique financial performance determining tool . Unlike other financial efficiency ratios, it gives a different outlook of a Bank’s financial health by including the cost of Capital employeed in the business and is more of concern to its shareholders. Shcherbakov( 2012) explains that implication of the concept of EVA is an enhanced measuring technique to find out the effect of internationalization on the commercial performance of any business King (2009) explained that Accountancy and Economics work for different purposes. He explained the multi-national corporation scenarios and compared the use of economic profits with that of accounting profits Local Literature (Hasan Al-Basteki 1998) worked on the use of modern Accounting techniques in the decision making in Bahrain and he concluded that not just the western world is implementing the new costing techniques but the middle east is also adopting the modern techniques Synthesis of the Literature Review The synthesis of the literature reviewed enlightens few similarities and differences with this research studies . The main similarities found in the literature are as follows i) Opportunity cost has been used in different parts of the world particularly in Banks and Construction industry ii) The No. f alternatives available influence the Opportunity Cost iii) Economic factors like inflation has effect on the project evaluation by the Banks . A closer review of these research papers show that Economists belonging to the Austrian school of thoughts are of the view that i) Opprtunity cost is not as important as Economic Profits are for economic decision making ii) Scarcity of resou rce is a factor which effects the decision makers approach The literature explains the significance of opportunity cost in framing the actual picture of the financial position of a company, same is the case evaluation of an investment project. Opportunity cost helps identifying the true cost of a project Opportunity cost is important in the determining the accurate financial position, hence in this research the relationship between the factors effecting opportunity cost and decision making is under study Theoretical Frame Work The study tends to explore the Opportunity cost and EVA for a given project in order to understand their relationship with each other. Very little literature is available in Economics and Accounting to determine the true profits of an organization(Denise Woodbery). The idea behind this research is to establish the nature of relationship between Economic value added that reflects the monetory importance of a given project or in other words the economic profit and that of Opportunity Cost that reflects the accounting profit of the same project. Conceptual Frame Work The idea behind this research is to find out how effective is Opportunity cost in project evaluation perceived by the Bankers in the Kingdom of Bahrain. The data is collected and analysed to understand what status opportunity cost concept holds in project financial evaluation and its relative efficiency perceived by the bankers at selected commercial banks of Kingdom of Bahrain The study tends to explore the two concepts for a given project in order to understand their relationship with each other. The Opportunity cost as discussed in literature like any other relevant cost adds to the overall project expenditure (Ferraro Laura O Taylor) Opportunity cost effects the total Cost of a Project , any increase in Opportunity cost means increase I nthe total cost of the project The higher the Opportunity Cost of a Project is the Smaller will be the net profit of it However the higher the net profit of the project is Opportunity Cost of the Project will be lower. Financial decision making tends to go for a project with smaller cost and hence inclusion of opportunity cost will alter the project cost and alter the decision ultimately. Various factors like availability of alternatives (James Raftery 1999), Scarcity of resources (Robert Frank 2005), Economic factors like trade cycle recession, inflation (Peter T leeson 2008) effects the use of opportunity cost in Project costing CHAPTER 3 RESEARCH METHODOLOGY This chapter presents the research design and methodology, sampling design, respondents of the study, research instrument, validity and reliability of the instrument, data gathering procedures, and statistical treatment of the gathered data. Research Design This study used the descriptive type of research which involves assembling data which provide knowledge about the variables and then systematically tabularizing, portraying, and defining the data gathered (Glass Hopkins, 1984). To get evidence concerning the current standing of the incidences to describe what happens in terms of change in value of the variables or settings in a state of research.. Opportunity Cost reflects the monetary importance of the next best alternative project. The study helps to find out how effectively this concept is incorporated in project evaluation procedure Research Design This is a descriptive research in which the population from which data is collected are the Management Personals from different business concerns established and working in Kingdom of Bahrain, directly or indirectly associated with the decision making and investment evaluation . Respondents of the Study The target population includes the working class particularly the managers , assistant managers and executives who work in Bahrain and their field esponsibility include Investment Analysis ,Project evaluation and decision making of similar nature. Sample Size The sample size is 50 and the response rate is well above the international standard of quantitative research required to validate the result of the study Sampling Design There are many methods of sampling; however for this study Random Sampling is used that is from the target population a sample of 100 is coll ected on random basis. The study uses random sampling for convenience and to avoid bias of respondents that work in one organization have one opinion(as in cluster sampling) Research Instrument The instrument used in this study is Questionnaire, the content of the questionnaire that consist of 20 queries the first five of which are about the general information of the respondent, remaining queries for which the respondents will answer on a Likert Scale. All the queries will help to find the relation between the two variables Opportunity Cost (IV) and Decision Making (DV) Part I: Provide demographics of the respondents in terms of age , gender, educational attainment, work experience in years Part II: Provide the data about the respondents opinion on various factors that influence their decision while making financial evaluation of a project. The answers to these questions will be given on a five point rating scale. 5. Strongly Agree 4. Agree 3. Moderately Agree 2. Disagree 1. Strongly Disagree Validity of the Instrument The validity of instrument is carefully checked by the research committee that includes research professors, statisticians and advisors. The recommendations were incorporated. The justification of this validation was to avoid vague items and bias statements which have been correctly achieved. Reliability of the Instrument The questionnaire is pre-tested to test the reliability of it, with a small group of individualsworking in different companies in the Kingdom of Bahrain, in order to check their understanding of the questions. Data collection Method Questionnaire copies were distributed among bank officers in different branches of distinct commercial banks in various regions of Kingdom of Bahrain. The target respondents are expected to be acquainted with the subject and questions, included in the questionnaire. There are other methods of data collection like documentary analysis and interview however for this study survey methodology is opted. A copy of questionnaire is provided in the appendix Statistical Treatment of the Data There are many choices of appropriate statistical methods however Correlation Coefficient as statistical method is used, so to find out the relation between the two variables. The survey form was used the Likert five point scale for the respondents to choose from as follows: [pic] Very few enterprises are using opportunity cost for just one reason. It is clearly evident that Opportunity cost related information is being used to accurately manage wide range of activities across a banking organization. Activities influenced by Opportunity cost calculation Activities |% of respondents | |Product Costs Profitability |65 | |Performance Measurement |47 | |Shared Service Costing |41 | |Planning Budgeting |40 | |Customer costing |38 | |Customer/Channel Costs Profitability |38 | |Transfer pricing |25 | |Outcome / Output based management |25 | Expectedly, opportunity cost is used for product costing by approximately two by three of those respondants working in banking sector. It ’s precision over traditional costing methods is borne out later in the survey with 87% finding that their Opportunity Cost product costs differed substantially from traditional costing methods, leading around 50% to reprice their products as a result! Validating the views expressed by Kaplan Norton in their latest book ‘Strategy Maps: Converting Intangible Assets into Tangible Outcomes’, which lays emphesisis on the importance of using Opportunity Cos to support a Balance Scorecard, nearly half of all respondents are using their Opportunity Cost data to support their Performance Management The use of Opportunity Cost to support Shared Services costing has increased in popularity over the last few years. Now that internal services are represent up to 30% of an organisation’s costs, it has become imperative to accurately reflect how those services are consumed by business units. Over 40% of respondents are using opportunity cost to support Shared Service costing, enabling them to understand who and what is driving consumption of their internal services, and thereby increasing the effectiveness of their focus an core business. These trends are repeated by those who do not yet use opportunity cost, but are plannin g to. They want to use opportunity cost to support Initiative |% of respondents planning to use OPPORTUNITY COST | |Product Costing |55 | |Planning Budgeting |36 | |Customer costing |27 | |Process/Continuous Improvement |27 | The most noticeable difference is that only 18% are planning to use the information to support Performance Measurement. This could well be because the ease of which opportunity cost lends itself to Performance Measurement is not evident until an opportunity cost is up and running. Alternatively, the respondents may be looking to introduce opportunity cost to solve a pressing business requirement, and the links between Opportunity Cost and performance metrics are not immediately apparent. Opportunity Cost for Planning The emphasis of Bankers has moved from historical costs to future costs. An enormous 94% of those questioned are now using opportunity cost, or plan to use, opportunity costs for developmental drives. Opportunity cost Planners are looking at all aspects of their organisations in order to identify improvement opportunities. Some 60% are looking to identify process improvements, with 55% looking at activity level improvements via resource planning, and 49% looking to affect strategy formulation. However, only 13% are questioning their organisation’s process design in a fundamental way. Consistent with historic uses of opportunity Cost planning data is being used to support a variety of initiatives, although there is a surprising focus on opportunity cost for goal setting. |Initiative |% of OPPORTUNITY COST Planners | |Shared Service Costing |51 | |Product Costing |49 | |Defining team/dept goals |27 | |Defining organisational goals |13 | Product/Service Costing and Customer Profitability By using cause and effect tracing rather than allocations, opportunity cost better reflects the value chain of how organisations consume costs and provides more accurate product, service and customer costings than achieved using traditional costing techniques. The difference in opportunity cost product costs to absorption or other allocation based costings can be dramatic. The survey shows that 87% of practitioners found that their product and service costs differed from traditional costings markedly. The majority had an average variation of between 5 and 10%, which can be dramatic at a gross or net margin level. However, a surprising number of respondents (11%) experienced variations of over 100%! |Average variation |% |Maximum variation % | |0 |13 |; 10% |25 | |1-5% |15 |10-25% |17 | |5-10% |26 |25-50% |25 | |10-15% |13 |50-75% |14 | |15-20% |10 |75-100% |8 | |; 20% |23 |; 100% |11 | Cost Reduction and Process Improvement That ABC can improve your bottom line is beyond doubt, with potential cost savings amounting to 25% of cost bases being identified. Some organisations are yet to find where they can reduce their costs, but it is worth noting that over 70% of those who have not identified cost savings have less than 100 activities in their model. Whilst it is important to prevent ABC models become too large and unmanageable (primarily because they can induce analysis paralysis), it is essential that a reasonable level of detail is available, so that there is sufficient information on which to make cost reducing or revenue enhancing decisions. After all, profit outcomes are the result of process design and activity workflow Maximum potential cost saving as a % of cost base |% | |0% |18 | |1-5% |21 | |5-10% |33 | |10-15% |8 | |15-20% |13 | |20-25% |2 | |;25% |5 | A variety of methods are being used to help organisations translate their ABC data into real cost reductions. Cost driver analysis is the m ost frequently used method for aiding cost reduction and/or process redesign, with 67% of organisations using this technique. Process mapping and benchmarking are also popular, as is repricing of products and/or services, and analysis of the value that an activity adds to an organisation. Top techniques used to aid cost reduction |% | |Cost driver analysis |67 | |Process mapping redesign |52 | |Benchmarking |52 | |Repricing |50 | |Value adding analysis |42 | |Product rationalisation |38 | |Value chain analysis |32 | Conclusions ABC can, and does, add value to organisations. 96% of respondents have found the experience to be beneficial to their organisations, and 98% are expecting their implementations to deliver even more positive returns on their investment in the future Level of benefit delivered by ABC |% achieved |% future | |Adverse impact |4 |2 | |Negligible benefit |22 |13 | |Moderate benefit |54 |60 | |Substantial benefit |20 |25 | Regardless of the benefit analysis above, respondents recommend the use of ABC unanimously! In particular, practitioners recommend using ABC for product costing and cost reduction, to derive the most benefits, although there is a general belief held by ABC practitioners that the methodology should be broadly used as shown below. ABC supporting |% of organisations | |Product/service costing profitability |80 | |Cost reduction |65 | |Continuous Improvement Program |56 | |Business Process Re-engineering |55 | |Shared Services Costing |51 | |Customer, channel or value chain analysis |44 | ABC is generating real benefits for all sorts of organisations across Australia. These benefits can only increase as more organisations are looking to start an ABC project for the first time, but the full potential of ABC will not be realised as so many existing ABC users are still not employing ABC to its full capabilities. It is important that experienced ABC compani

Gestalt Therapy

Gestalt Therapy What are the important therapeutic goals of Gestalt theory? Gelstalt therapy is an experiential type of psychotherapy whose main emphasis is on personal responsibility. In addition, the main focal point of gelstalt therapy is the client-therapist relationship, the clients experiences in the present, the social contexts and the environment of the clients life, as well as the self-regulating changes people make due to the overall predicament (Corey, 2013). Among some of the founders of the theory include Frederick Perls and Laura Perls.Advertising We will write a custom essay sample on Gestalt Therapy specifically for you for only $16.05 $11/page Learn More Gelstalt therapy enables a client to differentiate between feelings, actions, and perceptions. As such, patients can act to reshuffle their attitudes. The therapy process demands that patients and their therapist exercise dialogue in their actions. This is aimed at enabling clients to comes to terms with th eir actions, what prompts them to perform them, and how best to improve the situation. The goals of the therapeutic process are to ensure that the process is more candid than the content. More emphasis is placed on what is taking place and what is being felt than what took place in the past (Bloom, 2009). Gestalt therapy is highly reliant on the interpersonal relationship between a therapist and his client. Such a relationship develops and is nurtured as therapy continues. Gelstalt therapy could also be described as a form of experimental approach because it involves intentional and experimental actions. There are several ways through which the gestalt therapists’ function. For example, the therapist utilizes an exploration process, as opposed to use of behavior modification. Unlike other forms of therapy, the gestalt therapist ensures that therapists meet their patients and guide them in active works to ensure that their awareness is maximized. The goal is to ensure that the y help the patient grow and develop a sense of autonomy, in addition to increasing their conscious levels. While conducting the process, the therapist is supposed to be active and exude excitement (Bloom, 2009). It is paramount that they are also direct and honest with their clients in their communication. This way, both the therapist and the patient have their own sense of judgment in regards to how they feel, what they can see and what they hear. The patient is further able to determine the kind of person that the therapist is, as there is open and direct communication among them. This enables the patient to grow (Bloom, 2009). Moreover, the client is in a position to ascertain how he/she engages with the therapist, and this is a big step towards self-awareness. A therapist needs to fully understand the clients situation. He/she can do this by assessing the clients non-verbal as well as verbal communication.Advertising Looking for essay on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More As a matter of fact, nonverbal communication has been seen to offer more information about the true character of an individual. For this reason, the therapist must endeavor to read the clients body language including posture, gestures, hesitations, and movements. This is because body language will enable the therapist to decipher what the client is undergoing. It is important though to note that in this kind of therapy, the therapist does not offer a curative process to the patient but rather, a process of self-discovery and awareness. At the end of the therapy, patients will have developed a new label and sense of self-awareness. Therefore, they are left to grow by themselves. Reference List Bloom, D. (2009). The Phenomenological Method of Gestalt Therapy: Revisiting Husserl to Discover the Essence of Gestalt Therapy. Gestalt Review, 13(3), 277-295. Corey, G. (2013). Theory and practice of counseling and ps ychotherapy (9th edition). Belmont, CA: Brooks/Cole.