A Thematic Literature Review Low Income Single Mothers

A Thematic Literature Review Low-income Single Mothers Shagana Vijayaratnam SOCI 2030_B 2015-16 Professor L. Goldring TA G. Kilicaslan November 1, 2015 Literature Review Statement: This literature review will focus on the different types of struggles that low-income single mothers face. This review will include a broad overview of the published literature on the issues of welfare, childcare and employment that low-income single mothers challenge. The review will depict the difficulty low-income single mother’s face in term of raising a child on their own and the lack of support that they receive. Poverty amongst low-income single mothers is caused by lack of financial aid. Low-income single mothers endure the hardship of raising a child and paying numerous bills for survival with such minimal assistance. Welfare The notion of welfare is very prevalent in majority of the low-income single mother’s lives as this is probably their only essential income for a living. The dependence on welfare has become very high as finding a job is becoming increasingly more difficult. The very negative aspect of welfare is the Temporary Assistance for Needy Families (TANF), which helps women financially for a small period of time. During this time women are expected to find a job and in many cases women do not find a job leaving them unemployed and strained from welfare income. The procedure in finding a job is very difficult as there are manyShow MoreRelatedA Comparison of Methods in Business Research3572 Words   |  15 PagesStudy Definition It is an understatement that there is confusion among students, teachers and researchers about the definition of case study research. 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How Capitalism Contributes Towards Unemployment Essay

This business proposal will address the idea of unemployment as a social problem in today’s society. How capitalism contributes towards unemployment is an issue that has been around since the 2007 recession and continue to be an issue for the foreseeable future. A business idea to help move in the right direction and hopefully start to lower the unemployment rate in New Zealand is to start a market where people who are unemployed and willing to work can sell food and generate income for themselves and their families. A PESTEL analysis about the environment this market will be entering will need to be conducted with a key focus on the economic, social and legal aspects as these are the three that have the largest effect on the business. This business idea will hopefully be able to develop and the business will be able to create more markets throughout New Zealand in the future, therefore being able to reach a larger number of people to try and decrease the unemployment rates. Unemployment is unfortunately a large social problem in society today. Being unemployed can mean that people are unable to pay rent or feed their family; two things that are essentially vital to living. When a large amount of people are unemployed, it has extensive economic and social effects, including homelessness. Jackson Crooks quote that ‘you don’t live when you are unemployed-you exist’. Being unemployed can lead to not only financial stress but can lead to increased social isolation, crime andShow MoreRelatedStakeholder Capitalism Vs. Shareholder Capitalism1573 Words   |  7 Pageswas the use of capitalism since the last couple of decades. There were two separate types or levels of capitalism that were used in American society, which was capitalism 2.0 and capitalism 3.0. In the 1940s the beginning of capitalism 2.0 otherwise known as stakeholder capitalism. Stakeholder capitalism is basically a market system that the companies only treat the interests o f major stakeholders equally, rather than favoring the investors. The second use of capitalism is capitalism 3.0 otherwiseRead MorePoverty Inequality And The Working Class976 Words   |  4 Pagesapproximately 1.7 billion people worldwide are â€Å"multidimensionally poor† (Hick, 2014, p. 125). While addressing poverty, it is also essential for one to examine the inequality that exists within society. Poverty, inequality, the working poor, and capitalism are all concepts that interrelate and affect one another. Poverty and the working class are results of the inequality that is produced by a capitalist society. Nevertheless, the connection of poverty and inequality is still largely debated. EconomistsRead MoreMarxs Theory on the Fall of Capitalism1479 Words   |  6 PagesWhy did Karl Marx believe that capitalism would eventually collapse and be replaced by communism? 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The Perfect Day free essay sample

The Perfect Day When I was a little girl I would dream about my wedding day. I would pick out what colors I wanted. I had to have almost everything be pink because it was my favorite color. I used to even play dress up with all of my younger sisters. I would always have to be the princess, and they could dress up as anything else. I had a special white fluffy dress that my mother had made me for Halloween. No one was allowed to wear it but me. I would always say my wedding day would be the happiest day of my life. I wanted to feel like a princess, and could not wait until my Prince Charming would come and take me away. It was the first day of March 2008. There were a few piles of cold snow that had not melted yet all over the ground. The weather was just how I hoped it would be. It was not too cold and not too hot. The sun was shining bright in the afternoon sky. I was sitting anxiously at the reception hall waiting for the cake to be delivered. I still had to decorate the cake with the pink silk roses. Then I had to go get my hair and makeup done. I had to be at the church on time. I could not believe that the people from the bakery arrived late. I hoped that this was not sign that the rest of the day would have problems too. I was late but I finally got to the church, and I could see the huge black limo was already sitting in the parking lot waiting for us. Inside the church, there were pink, white and silver sparkly decorations everywhere. Almost all of the decorations that were used in the church were handmade by me. I had spent hours and hours every week at Hobby Lobby, and others craft stores trying to find exactly what I wanted to use. I had made fifty white and pink shiny tulle bows that were on each one of the pews. I was so proud of all the work I had done. The night before, hours and hours had been spent carefully making every single thing look absolutely perfect. I was getting ready to walk down the aisle with my father at my side. I was not sure how he was feeling. I am the oldest daughter of four, and I am the first one to get married. I am sure he had no idea we were going to be married so soon in our relationship. I also was the first child to move out f the home because my sisters are much younger than I am. I knew he liked my husband though. After all, he did hire him as an employee when we had first started dating. I liked the fact that my father had offered him a job at his construction company. He had been working at a different construction company at the time, and my father offered him more money to come work for him. All that mattered to me was that he knew I was going to be with someone who would take care of me. I had never had this many butterflies in my stomach before. I stared down at my bouquet. I did not think that it would have turned out so good. I made it myself with large and small light pink roses and silver sparkling ribbon tied in a zigzag design all the way around. I felt like a princess in my strapless long flowing beaded white gown. I loved that my butterfly tattoo on my shoulder stood out like a stunning piece of art. The colors are so bright most people think it is not real. My veil was what I had always wanted. It had beautiful beading all over that looked like it had taken someone hours and hours to do, and it was long enough to drag the floor. I had always wanted to wear elbow length white gloves and I found the perfect ones that had beading on them that perfectly matched my dress. My hair was done by one of my good friends who I went to high school with. She put in long dark extensions that matched my hair color. Then she put long loose curls all over. It was nothing special, but it looked amazing. I had never felt so beautiful in my life. Every pew in the church was filled with people. I had no idea that so many people would actually come. I was so excited that my uncle had came from California. My grandpa, that I never get to see, also came. It seemed like I had been standing next to the door forever. I started to think about my chihuahua puppy Zoe. I wished she could be here with us. I hated leaving her by herself for a long period of time. I had wanted her to be the ring bearer. I had even found a little t-shirt at a pet store that was black and white that said ring bearer on it. It even had a place to tie the rings too, but I knew it wouldn’t work out. She absolutely hates everyone but me and Adam. She would have tried to bite every person who came near her. I finally heard the all-familiar song, and I knew it was time to start walking down the aisle. The ushers opened the doors for us, and we walked down the white sheer aisle runner with the pink silk rose petals on it. I got a little nervous and started walking too fast. My father had to tell me to slow down. I was just trying to remember everything I had to do. I didn’t want to look like an idiot and like I didn’t know what I was doing. I finally got to the stage and waited for the preacher to ask â€Å"Who gives this woman to this man? † My dad said, â€Å"Her mother and I. Then I tried not to fall and go up the step to be next to my soon-to-be husband. We stood under a huge silver heart shaped metal arch covered with vines of green leaves, big pink roses, and small white roses. I could not be any more excited. Our wedding day had finally come. All the days of stress and planning were all worth it. All the things that I didn’t get that I wanted and that w ere not perfect didn’t matter to me anymore. I looked into his caring eyes and smiled. This was the man I am going to spend the rest of my life with

Investment detective free essay sample

However, the rank simply inspected by the cash flows is not the best method to evaluate the projects. Because this method does not consider time period, WACC, Net present value and other factors. All the factors could affect the value of project. 2. To evaluate the investment projects, we can use 5 main methods, NPV, IRR, MIRR, payback and discount payback. Each method has different advantage to evaluate the investment projects. It is better to use NPV and MIRR methods to evaluate the projects. NPV can provide basic accurate methods to use time value of money to estimate investments. Decision makers and investors are very interesting with this rate. But MIRR is better than IRR because MIRR will includes both reinvestment rate and WACC. IRR Normal: Rank 1 2 3 4 5 6 7 8 Project number 7 4 8 3 5 1 6 2 IRR 15. 26% 12. 33% 11. 41% 11. 33% 11. 12% 10. 87% 10. 00% 6. 31% IRR Reinvestment: Rank 1 2 3 4 5 6 7 8 Project number 3 7 8 4 5 1 6 2 NPV $393. 92 $331. 15 $276. 88 $228. 22 $129. 70 $107. 18 $0. 00 -$261. 36 MRR Normal: Rank 1 2 3 4 5 6 7 8 Project number 7 3 8 4 1 5 6 2 MIRR 11. 76% 11. 33% 11. 18% 10. 65% 10. 49% 10. 46% 10. 00% 8. 41% MIRR Reinvestment: Rank 1 2 3 4 5 5 6 7 Project number 3 8 4 7 2 5 1 6 MIRR 11. 33% 10. 81% 10. 65% 10. 59% 9. 66% 10. 46% 10. 29% 10. 00% Besides, payback and discount payback methods can also be used. We will write a custom essay sample on Investment detective or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page These methods can provide very important information about risk and liquidity. The shorter the payback is, the higher the project’s liquidity will be. But there are not the best methods to estimate. Regular Payback for Normal Investment Rank 1 2 3 4 5 6 7 8 Project number 6 7 2 8 4 1 5 3 Payback -0. 29 1. 89 2 6. 04 6. 05 6. 06 7. 14 14. 2 Regular Payback for Reinvestment Rank 1 2 3 4 5 6 7 8 Project number 6 7 2 8 4 1 5 3 Payback 10 1. 89 4. 51 The Discount Payback method is in the following Appendix. 4. Project 1 is very similar with amortizing fix-rate bond. The current price of the bond is $2,000,000. Also, it has constant PMT as $330,000 and par value as $1,000,000. For project 2, the cash inflow is only for three years and the annual cash inflows are decreased. It could be advertising campaign, because the annual rate of return of advertising gets lower. Project 3 is very similar with the Mortgage investment. People bought a house that costs $2,000,000, and the householder sells it for $10,000,000 after 15 years. Project 4 could be investment on an environmental unfriendly factory. After the factory stop working, it needs to spend money to clean up the materials that threats the environment. Therefore, it will generate money for 14 years, and loss exactly the same amount as its initial investment. The project 5 can be a long-term loan. The financial instrument lends the money to individual with a constant interest rate. Project 6 could be stock with 10% interest rate. The trend of cash flow in project eight is similar with the investment in a well running and start-up company. The cash flow is negative in the first few years. The net income increases with good operation and management in the following years. Therefore, the cash flow becomes positive. Project 7 could be an investment on a consumer goods factory. It will generate more cash when the products just come into the market. But cash flow will go down if the company does not launch new products. Project 8 will be high technology company, like apple. It will lose money at the beginning of the investment because not a lot of people know about it. Also, not all the people can afford to buy it. After a while, more people recognize it; therefore, company will suddenly generate more money. Project# 1 2 3 4 5 6 7 8 Real investment project Amortizing fix-rate bond Advertising campaign Real estate investment Environmental unfriendly factories Long-term loan Stock Consumer goods factory High Technology company 5. I would like to select project 3, 4, 5, and 7 as the top 4 investment projects. Project 3 is the most attractive investment project for investors. The NPV of project 3 is $393,920,000. It is the highest NPV among the 8 projects. Also, the MIRR of project 3 is very high. But project 3 high risk and low liquidity. However, we only consider the quantitative factors to evaluate these projects. Therefore I select project 3 as my first choice to invest. In addition, project 7 and 8 are mutually exclusive. Also, both of them have a good performance in cash flow. According to the rank and data in exhibits, I choose to invest project seven rather than the project eight because project 7 has a higher MIRR than that of project 8. Also, the payback period for project 7 is lower than the payback period for project 8.

Humanities 1301-Chapter 14 Flashcard

Humanities 1301-Chapter 14

Using Genealogy Timelines as Research Tools

Using Genealogy Timelines as Research Tools Research timelines are not just for publicationuse them as part of your research process to organize and assess the mountain of information you have uncovered for your ancestor. Genealogy research timelines can help to examine our ancestors life in historical perspective, uncover evidence inconsistencies, highlight holes in your research, sort two men of the same name, and organize the evidence necessary to build a solid case. A research timeline in its most basic form is a chronological list of events. However, a chronological listing of every event in your ancestors life could go on for pages and become impractical for evidence evaluation purposes. Instead, research timelines or chronologies are most effective if used to answer a specific question. Most often such a question will pertain to whether evidence may or may not pertain to a particular research subject. Some questions which might be answered with a genealogy research timeline: When did my ancestor migrate to or from a particular location?Why might my ancestor have emigrated from Germany in 1854?Is there only one man of a particular name in a certain area and time period, or has my research (or others) erroneously combined information from two men of the same name?Was my ancestor married only once, or multiple times (especially when the first name is the same)? The items you might want to include in your timeline may vary based on your research goal. Typically, however, you might want to include the date of the event, a name/description of the event, the locality in which the event occurred, the age of the individual at the time of the event, and a citation to the source of your information. Tools for Creating a Research Timeline For most research purposes, a simple table or list in a word processor (e.g. Microsoft Word) or spreadsheet program (e.g. Microsoft Excel) works well for creating a research timeline. To get you started, Beth Foulk offers a free Excel-based timeline spreadsheet on her website, Genealogy Decoded. If you make heavy use of a particular genealogy database program, check and see if it offers a timeline feature. Popular software programs such as The Master Genealogist, Reunion, and RootsMagic include built in timeline charts and/or views. Other software for creating genealogy timelines includes: Genelines - Genelines timeline software includes seven customizable timeline charts and reads directly from Family Tree Maker versions 2007 and earlier, Personal Ancestral File (PAF), Legacy Family Tree, and Ancestral Quest. Genelines also supports GEDCOM import.XMind - This mind-mapping software offers a number of different ways to look at your data. For research timeline purposes, the Fishbone Chart can be helpful for showing the causes of a specific event, and the Matrix View offers an easy way to organize and represent chronological data.SIMILE Timeline Widget - This free, open-source web-based tool helps you to visually represent your timelines for easy online sharing with family or colleagues. The SIMILE widget supports easy scrolling, multiple time bands, and inclusion of photos, however youll need to be able to work with and edit code (at a level similar to basic HTML website coding) to use this program. SIMILE also offers a Timeplot widget. See the Getting Started guide for more details. Time Glider - If you prefer a visual timeline solution that doesnt require a lot of technical skill, then this subscription, web-based timeline software makes it easy to create, collaborate on, and publish interactive timelines. A free plan is available (students only) for very simple timelines with limited photos. The regular $5 monthly plan offers extensive flexibility.Aeon Timeline - This Mac-based timeline software equips you with a variety of tools for creative and analytical thinking. It is designed for writers creating story plots, but the same tools for connecting people, places, and relationships with events is perfect for genealogical research. Want something even more creative? Valerie Craft shares a demonstration of using the free presentation software Prezi to create a visual genealogy timeline on her blog Begin with Craft. Case Studies Demonstrating the Use of Genealogy Timelines: Thomas W. Jones, Organizing Meager Evidence to Reveal Lineages: An Irish Example- Geddes of Tyrone, National Genealogical Society Quarterly 89 (June 2001): 98–112.Thomas W. Jones, Logic Reveals the Parents of Philip Pritchett of Virginia and Kentucky, National Genealogical Society Quarterly 97 (March 2009): 29–38.Thomas W. Jones, Misleading Records Debunked: The Surprising Case of George Wellington Edison Jr., National Genealogical Society Quarterly 100 (June 2012): 133–156.Marya C. Myers, One Benjamin Tuell or Two in Late Eighteenth-Century Rhode Island? Manuscripts and a Timeline Provide the Answer, National Genealogical Society Quarterly 93 (March 2005): 25–37.

Decisions In Paradise 3 Essay Example | Topics and Well Written Essays - 1000 words

Decisions In Paradise 3 - Essay Example Then GT Corp should channel funds to establish the infrastructures needed for the school. As Education is a necessity for the youth of Kava, the school will have no problem in recruiting the local students. There are certain factors and/or considerations prevailing in Kava both in its internal as well as in its external environment, which could affect the deployment of the Business School. The first of the destructive factor that could affect the Business School are the ongoing problems with natural disasters. That is, with the Kava located in the Pacific, it has been and will also be under threat from natural and man made occurrences or destructions like Typhoons, Tornadoes, Floods, Fires, Volcanic eruptions, Earthquakes and Petroleum spill. These destructions will destroy the Business School if its intensity is greater and close to the school. These occurrences are a common phenomenon in the Pacific and Kava could be no exception to it. Also, with not so advanced technological setup and infrastructure, the whole island is like a sitting duck to the nature’s fury. Even if, GT Corp builds its Business School with inbuilt protections, there will be skeptics questioning its validi ty and pinpointing only the risk factors. And, if the skepticism also creeps into the different hierarchy of the corporation and into the minds of the stockholders or stake holders, the deployment will become difficult. That is, when the top management and the stockholders raise doubts about the project, the financial resources will be blocked leading to the failure of the project. Also, a great deal of financial resources will be again needed to rebuild or repair the Business School, if it comes under the fury of the nature. Another factor, which could affect the deployment of the School, could come in the form of costly healthcare in Kava, which will be needed for protection from

Investigate the expectation of the users of financial statement from Dissertation - 1

Investigate the expectation of the users of financial statement from the auditors in case of Saudi Arabia - Dissertation Example This is usually done through their authentication, reliability and the correctness of their financial reporting (Mautz and Sharaf 1961; Manson and Zaman 2001). The accountants and auditors play an important role as they manage the finances of the companies (Manson 2000; Galloway 2003). Unfortunately, a number of issues have significantly affected the said process. In fact, one of the most important consequences is related to the existence of the so-called audit expectation gap. The audit expectation gap is indeed, one of the most important issues related to the audited function as it has relatively affected the development of auditing standards and practices (Godsell 1992; Best, Buckby and Tan 2001; Fadzly and Ahmad 2004). Members of the profession even attributed the existence of this issue to the significant increases in the litigations and criticisms they face (Mednick 1986; Berry, Otahata and Saleh 2000). The audit expectation gap pertains to the difference between the expectatio ns of the public in relation to an audit. The importance of this factor to the auditing profession lies on the fact that it tends to lower the credibility of the latter as well as their earnings potential (Godsell 1992; Best, Buckby and Tan 2001; Lin and Chen 2004;). More significantly, the presence of this problem also lowers the prestige of the profession (Beck 1973; Berry, Otahat and Saleh 2000; Best, Buckby and Tan 2001). 1.2 Statement of the Problem Various literatures have already been published in relation to audit expectations gap between the auditors and the users of financial statements. These literatures all emphasize that the expectations gap is usually evident from two points of view: (1) the users of the financial statements and (2) the auditors. In addition, there are also four expectation issues connected with this; these are: (1) audit assurance which pertains to the role and functions that the auditors must fulfill, (2) the level of quality in relation to the perfo rmance of the audits, (3) structural issues and regulatory issues that significantly affect the independence of the accountants/auditors, and (4) the manner by which the said audits are reported, taking into consideration the inconsistencies in terms of the construction of the different meanings contained in the audit reports. Previous studies conducted in relation to the auditing experiences gap tend to focus on developed countries and at the same time, have significantly failed to give paramount importance to the political and historical contexts wherein the said expectations are formed. Aside from this, the common recommendation is to publish strict guidelines with respect to accounting and auditing to cater to the problem at hand. However, some of the said studies mention that the said recommendations do not usually apply to all countries, most especially the developing ones taking into consideration the differences as to the ideological and legal structures that govern it. The study focuses on the experiences and perceptions of the users of financial statements in the Kingdom of Saudi Arabia. In addition to this, it also seeks to determine the different factors affecting this to gain a better understanding of the auditing expe

Social Norm Violation.Entering one’s Apartment without Knocking Essay Example for Free

Social Norm Violation.Entering one’s Apartment without Knocking Essay Social Norm Violation.Entering one’s Apartment without Knocking Introduction Barkow, (1978) defined social norms as behaviours that the society expects from its habits. Therefore, when people demonstrate these social norms in the public, the society observes them with satisfaction and acceptance. Consequently, when the social norms are violated or confused, people react strangely or become annoyed. For the social norm violation assignment, I had a pool of ideas, walking on the wrong side of the footpath, reading in the elevator, eating sloppily and so on. However, my desire was to violate a norm that will make me act in the most casual way. However, for this assignment, I decided to violate the social norm of entering into people’s apartment without seeking their welcome or without knocking at their doors. Typically, in my society people knock at the door and waits patiently for a response from the owners of the apartment. Ideally, one will wait until someone responds â€Å"come inn† before stepping inside the apartment. Therefore, I made up my mind and entered the apartment without knocking. Besides, I decided to act comfortably like the residents or tenants of the apartments that I could make myself at home. So, to make sure that I could not be accused of trespass or entering someone’s home as a stranger, I decided to ask my friend Daniel to keep me company. Previously, I had visited his apartment on one occasion with another classmate for a dinner. At this moment, it was obvious that I was not a frequent visitor of the apartment to comfortably feel at home or walk in without knocking at the door. When I decided to implement my experiment for the anthropology class, I decided to take to his apartment. As I approached his door, I was a little bit shaken of what will transpire once I was in the house. Furthermore, his blinds were shut and, therefore, it was difficult to predict whether he was at home or I would find Sam, his friend whom they stay with. After a standstill outside on the door for a couple of minutes, I managed to summon adequate courage and finally entered.My experience when I entered was astonishing. Immediately after I stepped inside the house, the room went on a silent mode. It seemed that his family members were in the middle of delicate or confidential information and had no signs of continuing in my intruding or presence. I had kept for a couple of seconds before I inquired if Daniel was home. Luckily, he was in the backyard sorting some staff. One of his family members rushed to get him as I remained seated with the rest of his family members. Notably, they still wore a shocking look on their faces because I kept myself at home by comfortably getting seated on the pew. Honestly, they appeared quite annoyed as I could observe from the experience reflection point of view (Holy Stuchlik, 2006). When Daniel approached, I had already prepared a question to ask him and depart the awkward apartment. Throughout the experiment, my experience remained awkward, and I remained ashamed of my act. In truth, I was idealess that violation of such a small societal norm of knocking before entering to one’s apartment could severely upset people or the inhabitants. However, I was confident because my friend Daniel was well aware of my intentions. Later in the evening, I called him and requested him to explain to his family members that it was a course experiment for my university studies. I hope he explained the situation to and the information for this assignment to his family members so that my reputation can be rehabilitated in their minds and salvaged.At the end of the experiment, I realized that people get terribly annoyed, confused and even show their anger if you enter their apartment without their knowledge, a sentiment equally observed by Hamnett, (2007). Even though I felt weird breaking the social norm, I concluded that my weird feelings represented all that was happening t han the specific act of violating the norm. I have to confess that it was not enjoyable at first, but it did assist me realize how people in my society value the protection of their social norms. It is something I would never attempt to do by choice, and if I spot someone doing the act, I will feel so weird and disappointed in him or her. Conclusion It is comparative to mention that the experience of violating the social norm through entering into Daniel’s apartment without knocking was uncomfortable and embarrassing. However, I enjoyed the experience after the family members of the apartment salvaged my reputation. When I went back on a normal visit, we revisited our experiences with lots of fun. Honestly, I later learned that the experiment was enjoyable. It is interesting norm in my society that is well safeguarded for ethical purposes in the society. Overall, it was a virtuous experience, planning it made me anxious and nervous but once I implemented it I gained the experience. References Barkow, J. H. (January 01, 1978). Social norms, the self, and sociobiology: Building on the ideas of A. I. Hallowell. Current Anthropology.Hamnett, I. (2007). Social anthropology and law. London: Academic Press. Holy, L., Stuchlik, M. (January 01, 2006). Anthropological data and social reality. Anthropology in Theory : Issues in Epistemology. Source document

Creatine Monohydrate And Its Effects On Sprinters Physical Education Essay

Creatine Monohydrate And Its Effects On Sprinters Physical Education Essay Creatine monohydrate has been shown to act as a buffer to maintain fast rates of ATP turnover, therefore Creatine availability has been reported to be a main limiting factor during bouts of high-intensity exercise such as sprinting. As a result of recent investigations documenting the ergogenic value of creatine monohydrate supplementation, it has been used as a popular ergogenic aid for many athletes who require fast rates of recovery (Mujika Padilla, 1997). Creatine is thought to improve performance by facilitating the rate of post-exercise Phosphocreatine (PCr) resynthesis. Given this relationship between PCr resynthesis and recovery of power output, supplementation is most likely to be beneficial to repetitive sprint activities (Glaister, 2006). However, some investigations on the effects of creatine supplementation and its effect on multiple sprint performance report significant improvements, whereas others report no such effect (Mujika, 1996). The main reasons for discrepancie s in the results of different investigations are the use of low subject numbers, varied creatine doses, varied test durations, and poor randomization. For these reasons this study will use a high number of subjects in a double blind fashion, with a dosage of 20 grams per day for the first 5 days followed by 5 grams a day for the remainder of the study. The study will continue for a duration of 8 weeks. Creatine monohydrate supplementation is popular in athletes participating in strength and power sports. Creatine use is thought to be effective for enhancing performance of activities that involve repeated intervals of sprint type exercises with short rest periods. First, an increase in PCr stores should increase the contribution of PCr for the resynthesis and decrease the demand from glycolysis which will result in a smaller accumulation of lactic acid. Then, when PCr is broken down to rephosphorylate ADP, a hydrogen ion is consumed in the reaction. Therefore, an increase in PCr could delay the onset of acidosis and fatigue and thus improve performance in repeated bouts of sprinting (Chilibeck Cornish, 2006). A study performed on the sprint performance of 19 highly trained male soccer players using creatine supplementation, consisted of six maximal 15 meter runs with a 30 second recovery period. The results of the study allowed the investigators to conclude that acute Cr supplementation favorably affected repeated sprint performance, however intermittent endurance performance was not affect by Cr (Mujika Padilla, 1998). Another study done by Mujika in 1996, involved sprint performance among twenty highly trained swimmers. Unlike the other studies mentioned, this study showed no significant improvements in sprint performance among competitive swimmers, therefore according to these results creatine supplementation cannot be considered as an ergogenic aid (Mujika, 1996). A study using the 30 second maximal cycle test, also known as the Wingate test, in conjunction with creatine supplementation also showed no ergogenic benefit. 20 grams of creatine supplementation for 3 days did not increase resting muscle PCr, nor did it affect the single short term maximal cycling performance. A possible explanation for this is that the duration of the test was too short to produce and significant muscular changes (Odland et al., 1997). Most studies have investigated the effects of creatine supplementation using cycle ergometry, this study will involve actual sprinters performing repeated sprints with relatively short rest periods performing to exhaustion. Also, there is little to no research on the prolonged effects of creatine supplementation, so the length of the study will be 8 weeks. STATEMENT OF THE PROBLEM: While many studies exist pertaining the effects of creatine supplementation on strength, power, and endurance, few studies exist investigating the effects of creatine supplementation on sprint performance on trained sprinters. The results of prior studies have noted many discrepancies such as research done by Mujika (1996) and Glaister (2006). Not enough evidence exists on the effects of creatine supplementation on sprint performance specifically the effect it has on trained individuals. PURPOSE OF THE STUDY: The purpose of this study is to examine the effects of creatine monohydrate supplementation on sprint performance in 50 NCAA colligate track and field athletes. These participants will go through an eight week supplementation and training period where they will be timed pre and post supplementation on a weekly basis in the 100 and 200 meter runs. SIGNIFICANCE OF THE STUDY: Most research on creatine has focused on short-term creatine loading and its effect on high intensity performance capacity. Some studies have investigated the effect of prolonged creatine use during strength training. However, studies on the effects of prolonged creatine supplementation on sprint performance are lacking. Due to this lack of information, this study will provide more data on the effects of prolonged creatine supplementation and its effects on sprint performance. RESEARCH HYPOTHESES: There will be a significant difference between the group which supplements with creatine and the control group in term of improvements in sprint performance. Improvements will be considered to be an improvement in time trials. The creatine group will have significant improvements in sprint performance compared to the control group. There will be more of a significant improvement in the 200 meter sprint times as opposed to the 100 meter sprint times. N) There will be no significant differences in terms of sprint performance between the creatine group and the control group. DEFINITION OF TERMS: Performance Improvement- Performance improvement for sprints will be when one records a better time than a previous test Fatigue- temporary loss of strength and energy resulting from hard physical work Exhaustion- extreme fatigue; debilitation: serious weakening and loss of energy ASSUMPTIONS: It is assumed that all subjects in the study will not be doing any other training regimen aside from the one included within the study. It is assumed that all subjects in the study are not using any other supplements during the course of the study. It is assumed that the all subjects are following protocol of the study and not deviating in any way. It is assumed that the subjects are training and performing to their maximal efforts. DELIMITATIONS: The study has been delimited to collegiate track and field athletes. The study has been delimited to athletes who compete in the 100 and 200 meter events. LIMITATIONS: Subjects are not following protocol correctly. Subjects are not performing to maximal efforts. Subjects are taking other supplements during the course of the study. Subjects change their dietary patterns mid way through the course of the study. REVIEW OF LITERATURE Most studies investigating the ergogenic value of creatine supplementation have reported significant increases in strength, power, sprint performance, and accumulation of performed work during multiple sets of maximal effort. These improvements are generally attributed to increase total creatine and phosphocreatine content in working muscles leading to more efficient resynthesis of PCr and enhance quality of training adaptations. Recent investigations by Mujika and Padilla (2000) have focused on the possible ergogenic value of supplementing the athletesà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ diet with approximately 20 g/d of creatine monohydrate for a week. It has often been shown that this type of creatine supplementation can result in increased total muscle creatine and phosphocreatine concentrations. Some studies have also shown that this elevated intramuscular phosphocreatine can enhance the rate of ATP and phosphocreatine resynthesis after high intensity efforts, causing a delayed onset of muscular fatigue and an increased performance during repeated bouts of high intensity exercise. A study stimulated by anecdotal reports of gains in strength and lean body mass in conjunction with Cr supplementation investigated the use of lower doses of creatine monohydrate for extended periods during heavy resistance training. Using 16 collegiate football player which were randomly separated into creatine and placebo groups. Cr groups ingested 5 grams of creatine monohydrate while the placebo ingested a placebo capsule, both of which took their capsules for a 10 week period. The results confirmed that 10 weeks of creatine monohydrate supplementing while participating in resistance training program will significantly increase strength and power compared with placebo supplementation. The result also indicates that Cr supplementation over the long term can be effect without a large dose loading phase (Pearson, 1999). Francaux and Poortmans (1999) used 25 healthy males participating in a 42 day training period followed by a 21 day detraining period. Creatine and placebo were given over a period of 9 weeks. Subjects ingested 21 grams of Cr for 5 days followed by 3 grams per day for 58 days. There were no changes observed in body mass for the control or placebo groups, while the Cr groups had in average increase in body weight by 2 kg. The increase was partially attributed to body water content, however the relative volumes of body water compartments remained constant, thus the gain in body mass cannot be attributed to water retention, but most likely to dry matter growth accompanied with a normal water volume. It has also been reported that Cr supplementation may improve single effort and repetitive sprint performance, particularly those last from 6- 30 seconds with a 5 min rest for recovery between sprints. A study performed by Dawson et al. found that Cr supplementation significantly increased work performed during the first six 6 second cycle ergometry. These result are supported by a similar study by Schneider who reported at supplementation with Cr was associated with significant improvement in cycle ergometer sprints with 60 second recovery time. In a study concerning Cr supplementation in professional rugby players, they were directed to take a loading phase consisting of 20 grams per day for 4 days once a month. This loading phase was then followed by a 3 week abstinence period. After the third loading cycle, the players were surveyed on compliance, preferred time and ingestion method, perceived side effects and perceived benefits. The results of this survey included; 35.3% reporting being fatigued less quickly, 29.4% reported quicker recovery from sprint type activities, and 23.5% reported faster recovery from training sessions. The study concluded that Cr supplementation may be useful in sports which require repeated sprint efforts and can be advantageous in both training and performance (Meir, 1995). It has been suggested by Mujika et al. (2000) that highly trained athletes who participate in sports in which performance relies on repeated efforts could benefit from creatine ingestion by means of an increased ability to perform intermittent high-intensity exercise either during training or competition. There have also been recent reports claiming that most studies not only do not use highly trained athletes as subjects, most of the studies cited above were conducted under laboratory conditions, and none of them assessed the effects of the creatine supplementation on performance during single specific athletic events. Recently reported results suggest that highly trained subjects performing sport-specific activities do not benefit from creatine ingestion (Mujika, 1996). There have also been a number of studies which report no ergogenic benefit from Cr supplementation. For example, one study by Burke et al. (1996) used male and female swimmers from the Australian National Team who supplemented with Cr for a 5 day period using 20 grams each day. This study did not show any enhancement due to Cr supplementation in 25m,50m, or 100m swims with a 10 min recovery period. Given such a long recovery period, ATP recovery should be recovered with our without Cr supplementation, therefore an increase in performance is not expected. A similar study involving swimmers was conducted by Mujika in 1996. This study also reported no performance increases between Cr and placebo groups, but did report a gain in body weight among the Cr group. This increase in weight could result in a increase in drag force and could alter the efficiency of a swimmers stroke. A study pertaining to maximal sprint performance on a cycle ergometer after Cr supplementation was conducted by Snow et al. (1998) The subjects were untrained men, who ingested 30 grams of creatine for a 5 day period. The results indicated that this dose of supplementation increase total creatine levels but did not improve sprint exercise performance on the cycle ergometer. These results are supported by similar studies by Finn et al. (2001) and Odland (1997). A recent study done in 2003, by Delecluse et al. examined the impact of a 7 day, high dosage of Cr supplementation on single and intermittent sprint performance in highly trained sprinters. Each subject ingested 0.35g of Cr per kg of body weight. Maximal sprint performance, degree of fatigue at the end of exercise, and degree of recovery all showed no difference compared to a placebo group. A review of previous studies concerning the topic of Cr supplementation show that Cr has been show to be a powerful aid in increasing strength and power related to sprint performance. Other studies however, have shown no improvements in strength, power, or overall sprint performance in conjunction with Cr supplementation. These discrepancies in results can possibly be attributed to differences in length of supplementation, exercise criterion, dosages, or subject response. METHODOLOGY: SUBJECTS: An email was sent to ten different division one schools asking their coaches if their track team would be willing to participate in an off-season supplementation program within a study that is being conducted at the University of Scranton. Due to the lack of a track and field team, we had to contact other schools in the area and see if there track team would participate. The coach from Lehigh University responded allowing his team to participate in this supplementation program. A written consent was obtained from the all 50 participants after they were thoroughly informed of the purpose and potential risks of participating in the study. All experimental procedures were approved by the Exercise Science Committee of the University of Scranton. All subjects were members of the same team and were competing at a national level at the time of the study. TESTING PROCEDURES: All of our testing will take place at the University of Scrantonà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s gym facilities. This study will use a pretest-posttest randomized-groups design. Our subjects will be evenly divided into two groups. One will be the control group, and the other the experimental group. Both the researchers and subjects will lack information as to which group is which. Each group will come in for a pre-training assessment evaluation that will last the first week of the study. Each participant will be timed in the 100 and 200 meter runs to establish prior times and speeds before supplementation begins. All of the timed trials will be supervised by experienced exercise physiologists found in our team here at the University of Scranton. During weeks two through seven is when supplementation will occur. Creatine (Cr) monohydrate will be administered to the supplementation group. This supplementation group will ingest four 5-g doses of Cr monohydrate per day for 6 days. The control or placebo group will take the same dosage of a carbohydrate solution as the supplementation group. Weekà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s three to seven will cut back to just one 5-g dose a day for 6 days. By week eight, all supplementation will end. The subjects will be given a three day period of no supplementation and will be timed once again in the 100 and 200 meter runs to see if any significant difference occurred in pre-test times. During the two to seven week period, all subjects will come in three times a week (Monday, Wednesday, and Friday) and complete the following training regiment, once in the morning and once in the afternoon. All subjects will be expected to continue all off-season training that will be administered by their coaches. Repeated sprint test (RST). A study conducted by Mujika et. all in 2000 led to believe that the repeated sprint tests were a practical training regimen that could be used within this study. Subjects will perform six maximal 15-m sprints that will have 30 seconds of recovery between each. Each sprint will begin on the blocks, and once the sprint has commenced, subjects will pass through a photocell gate (Newtest OY, Oulu, Finland) placed 0.4 m above the ground, which will start a digital timer. Additional photocell gates will be placed at 5 m and 15 m, which record elapsed and final times. Intermittent endurance test (IET). This testing procedure was also done by Mujika et. all in 2000 that was also appropriate for the training regimen in this study. This test lasts 16.5 minutes, during which subjects will alternate between forty 15 seconds bouts of high-intensity exercise and thirty-nine 10 second low intensity exercise bouts. During the high-intensity periods, subjects will follow and outlined circuit around Fitzpatrick field, running 40 m forward, and 8.25 m backwards, 95.25 m forward, 8.25 m sideways while facing away from the center of the circuit, and 8.25 m sideways while facing the center of the circuit. During the low-intensity periods, subjects will jog to the center of the circuit and back to the position they reached during previous high-intensity period. The test results in the distance covered during 40 periods of high-intensity running. STATISTICAL ANALYSIS: Values will be expressed as mean +/- standard deviation. The level of statistical significance will be defined as P

Luotang Power

Table of Contents INTRODUCTION1 QUANTITATIVE VARIANCE ANALYSIS2 i. Quantity Variance5 ii. Price Variance6 iii. Fuel Efficiency Variance7 iv. Fuel Cost Variance8 v. Other Cost Variances9 5 PORTER FORCES†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 11 CONCLUSION12 INTRODUCTION Luotang Power was established by American companies who was selected bidders to operate a 600 MW coal-fired power plant project. This company was located in Hubei Province, China. Although this company wholly foreign-owned but they need to use Chinese- manufactured equipment. There are two main issues in this case study.The first issue is the positive performance of Luotang Power does not show in the financial results. Mr. Tan Min Yi was scheduled to make a presentation to the Board of Directors of his parent company, China Hua Tong Power about the results. Mr. Tan Min Yi is a general manager of the Luotang Power Company. He needs to review and investigate the financial results before presenting to the board the disappointing results. The second issue is about the quality of the coal provided by the supplier, Pingdingshan. Sometimes, the Pingdingshan will supply some of the coal with bad quality.They will send some of the coal contain high level of moisture. They need to take time to dry it and will cause additional costs to happen like storage cost. Mr. Tan wants to use a variance analysis method to better understand plant performance compared to the previous year. So, we will help Mr. Tan to solve this problem by calculating and prepare the recommendations to improve reporting and evaluation of the plant's performance. QUANTITATIVE VARIANCE ANALYSIS As what have been introduced before, the Luotang Power CEO has to present the financial report to the board of director.But first he has to understand about the quantitative variance ana lysis. Variance Analysis is the analysis of performance by means of variances. This tool can be used to promote management action at the earliest possible stages. After a budget (based on standard costs) has been set, its usefulness lies in the review procedures which compare actual results against the budget. Variance analysis is the process of examining in detail each variance between actual and budgeted or standard costs to determine the reasons why budgeted results were not met. When the effect of variance is concerned, there are two types of variances.When the actual results are better than expected results given variance is described as favorable variance. In common use favorable variance is denoted by the letter (F). But when actual results are worse than expected results given variance is described as adverse variance, or unfavorable variance. In common it is denoted by the letter (U). There are very few plans that turn out exactly as planned. Even when the overall objective s of the plan are achieved, some, if not all components of the performance will have varied from the sub-plans or standards that make up the overall picture.So does the performance on the Luotang Power in 2011 which most of the variance is in unfavorable results. The variance analysis provides a framework for all business managers including Mr. Tan as one of Luotang Power directors to break down the overall performance of an organization, so that each individual element of the business can be isolated and analyzed in turn. The CEO facing problem with quantity variance, price variance, fuel efficiency variance, fuel cost variance and other cost variances. All these variance help him to explain about the plant performance throughout the year 2011 to the board of directors.Later, we will explain some of the variance that we have listed and all the problems related to â€Å"Luotang Power: Variance Explained† case study. This is the calculation of all variances. Variance | Calcula tion | Result| Quantity Variance| (3427351-3937377) x 0. 4219 = 215179. 97| Unfavorable| Price Variance| | Unfavorable | Fuel Efficiency Variance| [(346-347) x 0. 4219] x 3427351= 1445999387| Unfavorable| Fuel Cost Variance| (315612 – 320183)=5021| Unfavorable| Fixed Operating ; Maintainance Variance| (33178-39068)=5890(304090 – 348549)=44459| UnfavorableUnfavorable | i. Quantity Variance 3,427,351-3,937,377) x 0. 4219 = RM 215,179. 97 (UNFAVOURABLE) Based on the calculation above, we can see that amount of selling to HPPC had been declined in the year 2011 regarding HPPC produce electricity by itself. As we can see, Luotang Company never expects that demanding from HPPC will decline because looking at data, they make a bulk purchase on year 2010 and suddenly on year 2011, have dropped in demand. Ratio of coal consumed to net electricity generation| 2010| 2011| 347,000 X 100 % = 8. 1 % 3,937,377| 346,000 X 100 % = 10. 09 % 3,427,351 | Based on calculation above, we can see that in the year 2010, Luotang very effectively usage their resources accordingly to generate electricity, but in the year 2011, Luotang lack of usage of resources to generate electricity. | Excessive usage of materials that is usually a reason of unfavorable direct material quantity variance may be due to lower quality of materials, untrained workers, poor supervision. Generally, production managers are responsible for this variance.However purchasing department may also be held responsible for purchasing materials of lower quality to economize on prices. Where Purchasing Department purchases low grade direct materials at low prices to show a favorable material price variance, the material quantity variance is usually unfavorable due to lower quality of direct materials. ii. Price Variance The definition of price variance is the difference between the actual and standard prices of one product unit multiplied by how much input was used.The formula is: Price Variance = (Actual P rice – Standard Price) X Actual Quantity The price variance can be used by a business to assess the change between expected and actual input prices, since a positive price variance reflects an unfavorable cost rise, while a negative result indicates a favorable cost decrease. To adapt price variance to the type of business Luotang power it’s based upon the average price that electricity was sold to HPPC. The formula is: (Price per MWh in Current Year-Price per MWh in Prior Year) * Net Generation in Current Year From our calculation in price variance for Loutang Power we get amount RMB 6,511,9669.Since the amount is positive, that’s mean it unfavorable. Unfavorable show that Loutang Power unefficiency in managing its price and cost. We can see that demand from clients in 2010 is higher than others years because in 2010 the price is lowest. In 2009 is the highest price than its effect the demands. General Manager increases a little bit price in 2011, so the demand is decreased dramatically. This may also be caused by HPPC had its own electricity generating and produce themselves the electricity. Price is influence of the increase of cost, especially direct material cost.Luotang power must change the term of contract with the supplier. Origin contract is Luotang Power paid a fixed price per tonne. If staying with fixed price, the company must pay it although the coal quality has not reached the expected quality. Luotang Power purchase it with a large number, it’s a high risk because the supplier inconsistent provides the quality coal. So Luotang must buy the coal with a condition that if the coal is not meet the qualifications, it must be returned back to the supplier. Luotang Power must set the fix benchmark for the coal, so the supplier must follow it.If not Luotang Power doesn’t have to pay it, just return it. It saves the cost. So Luotang can set the price lower. iii. Fuel Efficiency Variance The meaning of fuel efficiency v ariance in this case study is the difference between the current year of the quantity of coal used to generate each MWh of electricity sold and the prior year of the quantity of coal used to generate each MWh of electricity sold. This is calculation how to find the fuel efficiency variance: (Mass of coal used per net MWh sold this year- Mass of coal used per net MWh sold last year) x MWh sold this year's x price of coal last yearFrom our calculation, for 2011, the fuel efficiency variance is –RMB 1,445,999,387. This show that this variance is unfavorable because the result in negative. We found several reasons that cause this to happen. The first reason is from an electricity demand from the HPPC is decreasing in 2011. This due to the HPPC have its own electricity generating units. The HPPC can produce the same electricity as the Luotang electricity. The second reason is because of the price that Luotang Power offer to HPPC. If you see in 2010, the price that the Luotang offe r is cheaper than 2011.Because of the increasing of electric price in 2011, the amount of electricity sold is decreasing. The other reason maybe for the quality of coal provided by Pingdingshan. Pingdingshan was required to supply low sulfur bituminous coal. If the Pingdingshan provides low quality of coal to the Luotang, the coal that can be used to produce electricity will decrease then, the production of electricity will be reduced. There is some recommendation that we will give to Mr. Tan to overcome this problem. We recommend that Luotang revenue does not just depend on the HPPC only.Mr. Tan needs to find other clients. Even it will cost to Luotang but it is will give advantage to Luotang’s long- term performance. The second recommendation is Luotang needs to lower the price of electricity if the company wants the HPPC buy more electricity from them. The last one is, the Luotang need too strict with the Pingdingshan regarding to the direct material, coal. If the Pingding shan provides them with a low quality of the coal, the Luotang needs to tell them or not to pay the expenses. The Luotang cannot let this happen.Although they can adjust the price but actually it will make the Luotang suffered loss in controlling their direct materials because they need to bear other cost in order to adjust back the quality of coal like the storage expenses. iv. Fuel Cost Variance In cost accounting, deviation between the actual cost and the standard cost. If the actual cost exceeds the standard cost, an unfavorable variance exists. A variance can be calculated for different cost items such as manufacturing costs (i. e. , direct material, direct labor, and overhead), selling expenses, and administrative expenses.The reasons for a variance should be identified and corrective action taken. Favorable variance can be defined as a difference between an actual cost and a budgeted or standard cost, and the actual cost is the lesser amount. In the case of revenues, a favora ble variance occurs when the actual revenues are greater than the budgeted or standard revenues. And unfavorable variance can be defined as the amount by which actual costs exceed the standard costs or budgeted costs. Also, the amount by which actual revenues are less than the budgeted revenues.After all of us do the analysis, we have found that this company having major problems in fuel cost, the fuel that Luotang receive from the Pingdingshan for this year have a low quality to compare from the last year. This has affected the production of the company. So that it brought the company a major problem that are decreasing purchase from HPPC. Analysis variance has shown that the fuel cost variance it just unfavorable. We have used the original formula, that are, Cost Variance = (cost this year-cost last year) x actual quantity this year.But we have modified the formula to calculate with Fuel Cost Variance = (price of coal this year-price of coal last year) x Mass of used per net MWh s old this year x MWh sold this year. So that we have found that Luotang have unfavorable variance. The cost is increased from the standard cost because the coal that receive from the Pingdingshan have a problem with its quality so that its take time to plant to generate or burn the coal. So that, its increase the cost with a lower quantity of production. From the analysis, we recommend Luatong should do fuel diversification.Fuel diversification implies the selection of a mix of electric generation technologies in a fashion that strikes a good balance between reduced cost and reduced risk. A long-term perspective as well as a short-term perspective can be taken on the fuel diversification problem. In a short-term perspective, the decision maker is limited to selecting power sources from existing alternatives. The construction of new generation plants and the associated fixed costs are justifiably ignored. The short-term problem translates in most instances to a scheduling problem.On t he other hand the long-term perspective on fuel diversity seeks insights that can help decision-making involved in the selection of new power plants. The long-term problem can be thought of as a resource- planning problem. Our focus is on the long-term perspective. Long-term fuel diversity has recently gained the attention of state regulators and federal policy makers. It has been argued that fuel diversity has the potential to advance several socially desirable objectives such as lower long-term prices, low price risk, less dependent on foreign sources of energy, higher power reliability and a cleaner environment. . Other Cost Variances The variance that related in this area are Coal Cost, Fixed Operating and Maintenance Cost, and Depreciation Expense. This is because in this case, only these three costs that have the useful information that help us to make an analysis of variance. Allocated cash costs are a type of expense that is clearly associated with and so can be readily assi gned to a certain business process, project or department. Allocated costs can be divided into two which allocate cash costs and allocated non-cash costs. Allocated cash costs are most probably things related to cash items.In this case it can be implemented in fixed operating and maintenance while allocating non-cash costs example is depreciation expense. The formula to calculate these two types of allocated cost is: Allocated Cash @ Non-Cash Costs = (Cost of volume allocated based on the quantity used – Actual costs) Related to the Allocated Cash Costs, in this case, we can simply use the formula: Allocated Cash Costs = (Standard Cost for Fixed Operating and Maintenance 2011 – Actual Fixed Operating and Maintenance 2011) From our calculation, the standard cost is lower if compared with the actual coal cost in 2011.From the table, it shows that – 5890 or can be denoted by 5890 U. Which shows unfavorable result. The main factor that contributes to increase of act ual result is unmanageable plant management. This is including engineering, planning, accounting and cost of railway fee. While in Luotang Power, they only have depreciation expense that have a relation of Allocated Non-Cash Cost, we can simply use the formula: Allocated Non-Cash Costs = (Standard Cost for Depreciation Expense 2011 – Actual Depreciation Expense 2011) From our calculation, the standard cost is lower if compared with the actual coal cost in 2011.From the table, it shows that – 44459 or can be denoted by 44459 U. Which shows unfavorable result. The main cause that contributes to increase of actual result is the standard cost of depreciation that have been planned is unachievable. In the previous two years, they recorded RMB 350320 in 2009 and RMB 349342 in 2010. The issue arises is why Loutang Power finance department decreases the standard cost significantly and unachievable. Our suggestion towards this company to minimize their unfavorable results is ma nage their plant in a very successful way and perhaps can decrease the unachievable amount of the fixed cost.Firstly, Luotang Power can minimize their cost of handling the management of their plant in a very strategic way. They have to manage the railway line regarding its fees, manage coal by maximizing the utilities of storage area, manage its boilers with a full efficiency of boiling point and so much more related to the site layout for 2x300MW Luotang Power Project. Next, they must take into consideration on achievable amount of the standard cost. It is essential to all standard cost setter to discuss among all of the directors and subordinates first before setting up the most accurate standard cost that can be used as a benchmark for a company. Porter Forces 1) Efficiency Based on data, we can see that Luotang Company doesn't have efficiency in producing electricity because cost for fixed expenses in the year 2011 are increasing. They have made by their own estimated or standar d cost on year 2011 but when comes to producing the actual cost incurred more than standard cost. This is showing that they fail to manage their production either capability of the machine or weakness of management itself. 2) Bargain of buyer Regarding to theory 5 Porter Forces, their purchaser has power of deciding the price. When we looking at the information, Luotang depend more on HPPC as a buyer.So this made difficulties to Luotang to decide their own price although they have an efficiency in production. 3) Bargain of supplier As we know, supplier as the important agent to determine whether our company successful or not, because we rely on their capabilities to supply us with quality raw materials and reasonable price, also willing to provide us when we need. In this case, Luotang depend on Pingdingshan and recently reported that coal quality had deteriorated about 3 % from the expected quality. CONCLUSION Luotang Power Company is an international power developers to finance, d esign, construct and operate coal-fired power plant.However due to the nature of our business, we have a big problem about our supplier that have gotten changed on 2011. The supplier has supplied low quality coal to Luotang and that disturbs the progress of the production. That has caused decreases demand from a loyal customer. And its affect the financial situation of the company. Besides that, several recommendations should be taken to ensure a successful implementation of the system in our company. First of all, purchasing department may also be held responsible for purchasing materials that can define the quality of the material.Besides that, Luotang also change the term of contract with the supplier, need to find other clients not to depend to HPPC, Luotang also should do fuel diversification to make sure there are several suppliers, and Luotang can minimize their cost of handling the management of their plant in a very strategic way so that they can improve their management we ll. In addition, what we have found by concept 5 Forces in this company that their faces during their production. There are ; Luotang not have efficiency in producing electricity because cost for fixed expenses in the year 2011 are increasing.Besides that, bargain of buyer that show their purchaser have power in deciding the price. And lastly, bargain of supplier that show there is a supplier that supply the raw material to Luotang. As a conclusion in overall, we can see that Luotang Power Company has a good performance in their production but it have decreased in year 2011 because there are several problems that unexpected, that come from the supplier and others. So that, Luotang should do in several ways to overcome the problem and prove it to the Boar of Directors. Luotang Power Table of Contents INTRODUCTION1 QUANTITATIVE VARIANCE ANALYSIS2 i. Quantity Variance5 ii. Price Variance6 iii. Fuel Efficiency Variance7 iv. Fuel Cost Variance8 v. Other Cost Variances9 5 PORTER FORCES†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 11 CONCLUSION12 INTRODUCTION Luotang Power was established by American companies who was selected bidders to operate a 600 MW coal-fired power plant project. This company was located in Hubei Province, China. Although this company wholly foreign-owned but they need to use Chinese- manufactured equipment. There are two main issues in this case study.The first issue is the positive performance of Luotang Power does not show in the financial results. Mr. Tan Min Yi was scheduled to make a presentation to the Board of Directors of his parent company, China Hua Tong Power about the results. Mr. Tan Min Yi is a general manager of the Luotang Power Company. He needs to review and investigate the financial results before presenting to the board the disappointing results. The second issue is about the quality of the coal provided by the supplier, Pingdingshan. Sometimes, the Pingdingshan will supply some of the coal with bad quality.They will send some of the coal contain high level of moisture. They need to take time to dry it and will cause additional costs to happen like storage cost. Mr. Tan wants to use a variance analysis method to better understand plant performance compared to the previous year. So, we will help Mr. Tan to solve this problem by calculating and prepare the recommendations to improve reporting and evaluation of the plant's performance. QUANTITATIVE VARIANCE ANALYSIS As what have been introduced before, the Luotang Power CEO has to present the financial report to the board of director.But first he has to understand about the quantitative variance ana lysis. Variance Analysis is the analysis of performance by means of variances. This tool can be used to promote management action at the earliest possible stages. After a budget (based on standard costs) has been set, its usefulness lies in the review procedures which compare actual results against the budget. Variance analysis is the process of examining in detail each variance between actual and budgeted or standard costs to determine the reasons why budgeted results were not met. When the effect of variance is concerned, there are two types of variances.When the actual results are better than expected results given variance is described as favorable variance. In common use favorable variance is denoted by the letter (F). But when actual results are worse than expected results given variance is described as adverse variance, or unfavorable variance. In common it is denoted by the letter (U). There are very few plans that turn out exactly as planned. Even when the overall objective s of the plan are achieved, some, if not all components of the performance will have varied from the sub-plans or standards that make up the overall picture.So does the performance on the Luotang Power in 2011 which most of the variance is in unfavorable results. The variance analysis provides a framework for all business managers including Mr. Tan as one of Luotang Power directors to break down the overall performance of an organization, so that each individual element of the business can be isolated and analyzed in turn. The CEO facing problem with quantity variance, price variance, fuel efficiency variance, fuel cost variance and other cost variances. All these variance help him to explain about the plant performance throughout the year 2011 to the board of directors.Later, we will explain some of the variance that we have listed and all the problems related to â€Å"Luotang Power: Variance Explained† case study. This is the calculation of all variances. Variance | Calcula tion | Result| Quantity Variance| (3427351-3937377) x 0. 4219 = 215179. 97| Unfavorable| Price Variance| | Unfavorable | Fuel Efficiency Variance| [(346-347) x 0. 4219] x 3427351= 1445999387| Unfavorable| Fuel Cost Variance| (315612 – 320183)=5021| Unfavorable| Fixed Operating ; Maintainance Variance| (33178-39068)=5890(304090 – 348549)=44459| UnfavorableUnfavorable | i. Quantity Variance 3,427,351-3,937,377) x 0. 4219 = RM 215,179. 97 (UNFAVOURABLE) Based on the calculation above, we can see that amount of selling to HPPC had been declined in the year 2011 regarding HPPC produce electricity by itself. As we can see, Luotang Company never expects that demanding from HPPC will decline because looking at data, they make a bulk purchase on year 2010 and suddenly on year 2011, have dropped in demand. Ratio of coal consumed to net electricity generation| 2010| 2011| 347,000 X 100 % = 8. 1 % 3,937,377| 346,000 X 100 % = 10. 09 % 3,427,351 | Based on calculation above, we can see that in the year 2010, Luotang very effectively usage their resources accordingly to generate electricity, but in the year 2011, Luotang lack of usage of resources to generate electricity. | Excessive usage of materials that is usually a reason of unfavorable direct material quantity variance may be due to lower quality of materials, untrained workers, poor supervision. Generally, production managers are responsible for this variance.However purchasing department may also be held responsible for purchasing materials of lower quality to economize on prices. Where Purchasing Department purchases low grade direct materials at low prices to show a favorable material price variance, the material quantity variance is usually unfavorable due to lower quality of direct materials. ii. Price Variance The definition of price variance is the difference between the actual and standard prices of one product unit multiplied by how much input was used.The formula is: Price Variance = (Actual P rice – Standard Price) X Actual Quantity The price variance can be used by a business to assess the change between expected and actual input prices, since a positive price variance reflects an unfavorable cost rise, while a negative result indicates a favorable cost decrease. To adapt price variance to the type of business Luotang power it’s based upon the average price that electricity was sold to HPPC. The formula is: (Price per MWh in Current Year-Price per MWh in Prior Year) * Net Generation in Current Year From our calculation in price variance for Loutang Power we get amount RMB 6,511,9669.Since the amount is positive, that’s mean it unfavorable. Unfavorable show that Loutang Power unefficiency in managing its price and cost. We can see that demand from clients in 2010 is higher than others years because in 2010 the price is lowest. In 2009 is the highest price than its effect the demands. General Manager increases a little bit price in 2011, so the demand is decreased dramatically. This may also be caused by HPPC had its own electricity generating and produce themselves the electricity. Price is influence of the increase of cost, especially direct material cost.Luotang power must change the term of contract with the supplier. Origin contract is Luotang Power paid a fixed price per tonne. If staying with fixed price, the company must pay it although the coal quality has not reached the expected quality. Luotang Power purchase it with a large number, it’s a high risk because the supplier inconsistent provides the quality coal. So Luotang must buy the coal with a condition that if the coal is not meet the qualifications, it must be returned back to the supplier. Luotang Power must set the fix benchmark for the coal, so the supplier must follow it.If not Luotang Power doesn’t have to pay it, just return it. It saves the cost. So Luotang can set the price lower. iii. Fuel Efficiency Variance The meaning of fuel efficiency v ariance in this case study is the difference between the current year of the quantity of coal used to generate each MWh of electricity sold and the prior year of the quantity of coal used to generate each MWh of electricity sold. This is calculation how to find the fuel efficiency variance: (Mass of coal used per net MWh sold this year- Mass of coal used per net MWh sold last year) x MWh sold this year's x price of coal last yearFrom our calculation, for 2011, the fuel efficiency variance is –RMB 1,445,999,387. This show that this variance is unfavorable because the result in negative. We found several reasons that cause this to happen. The first reason is from an electricity demand from the HPPC is decreasing in 2011. This due to the HPPC have its own electricity generating units. The HPPC can produce the same electricity as the Luotang electricity. The second reason is because of the price that Luotang Power offer to HPPC. If you see in 2010, the price that the Luotang offe r is cheaper than 2011.Because of the increasing of electric price in 2011, the amount of electricity sold is decreasing. The other reason maybe for the quality of coal provided by Pingdingshan. Pingdingshan was required to supply low sulfur bituminous coal. If the Pingdingshan provides low quality of coal to the Luotang, the coal that can be used to produce electricity will decrease then, the production of electricity will be reduced. There is some recommendation that we will give to Mr. Tan to overcome this problem. We recommend that Luotang revenue does not just depend on the HPPC only.Mr. Tan needs to find other clients. Even it will cost to Luotang but it is will give advantage to Luotang’s long- term performance. The second recommendation is Luotang needs to lower the price of electricity if the company wants the HPPC buy more electricity from them. The last one is, the Luotang need too strict with the Pingdingshan regarding to the direct material, coal. If the Pingding shan provides them with a low quality of the coal, the Luotang needs to tell them or not to pay the expenses. The Luotang cannot let this happen.Although they can adjust the price but actually it will make the Luotang suffered loss in controlling their direct materials because they need to bear other cost in order to adjust back the quality of coal like the storage expenses. iv. Fuel Cost Variance In cost accounting, deviation between the actual cost and the standard cost. If the actual cost exceeds the standard cost, an unfavorable variance exists. A variance can be calculated for different cost items such as manufacturing costs (i. e. , direct material, direct labor, and overhead), selling expenses, and administrative expenses.The reasons for a variance should be identified and corrective action taken. Favorable variance can be defined as a difference between an actual cost and a budgeted or standard cost, and the actual cost is the lesser amount. In the case of revenues, a favora ble variance occurs when the actual revenues are greater than the budgeted or standard revenues. And unfavorable variance can be defined as the amount by which actual costs exceed the standard costs or budgeted costs. Also, the amount by which actual revenues are less than the budgeted revenues.After all of us do the analysis, we have found that this company having major problems in fuel cost, the fuel that Luotang receive from the Pingdingshan for this year have a low quality to compare from the last year. This has affected the production of the company. So that it brought the company a major problem that are decreasing purchase from HPPC. Analysis variance has shown that the fuel cost variance it just unfavorable. We have used the original formula, that are, Cost Variance = (cost this year-cost last year) x actual quantity this year.But we have modified the formula to calculate with Fuel Cost Variance = (price of coal this year-price of coal last year) x Mass of used per net MWh s old this year x MWh sold this year. So that we have found that Luotang have unfavorable variance. The cost is increased from the standard cost because the coal that receive from the Pingdingshan have a problem with its quality so that its take time to plant to generate or burn the coal. So that, its increase the cost with a lower quantity of production. From the analysis, we recommend Luatong should do fuel diversification.Fuel diversification implies the selection of a mix of electric generation technologies in a fashion that strikes a good balance between reduced cost and reduced risk. A long-term perspective as well as a short-term perspective can be taken on the fuel diversification problem. In a short-term perspective, the decision maker is limited to selecting power sources from existing alternatives. The construction of new generation plants and the associated fixed costs are justifiably ignored. The short-term problem translates in most instances to a scheduling problem.On t he other hand the long-term perspective on fuel diversity seeks insights that can help decision-making involved in the selection of new power plants. The long-term problem can be thought of as a resource- planning problem. Our focus is on the long-term perspective. Long-term fuel diversity has recently gained the attention of state regulators and federal policy makers. It has been argued that fuel diversity has the potential to advance several socially desirable objectives such as lower long-term prices, low price risk, less dependent on foreign sources of energy, higher power reliability and a cleaner environment. . Other Cost Variances The variance that related in this area are Coal Cost, Fixed Operating and Maintenance Cost, and Depreciation Expense. This is because in this case, only these three costs that have the useful information that help us to make an analysis of variance. Allocated cash costs are a type of expense that is clearly associated with and so can be readily assi gned to a certain business process, project or department. Allocated costs can be divided into two which allocate cash costs and allocated non-cash costs. Allocated cash costs are most probably things related to cash items.In this case it can be implemented in fixed operating and maintenance while allocating non-cash costs example is depreciation expense. The formula to calculate these two types of allocated cost is: Allocated Cash @ Non-Cash Costs = (Cost of volume allocated based on the quantity used – Actual costs) Related to the Allocated Cash Costs, in this case, we can simply use the formula: Allocated Cash Costs = (Standard Cost for Fixed Operating and Maintenance 2011 – Actual Fixed Operating and Maintenance 2011) From our calculation, the standard cost is lower if compared with the actual coal cost in 2011.From the table, it shows that – 5890 or can be denoted by 5890 U. Which shows unfavorable result. The main factor that contributes to increase of act ual result is unmanageable plant management. This is including engineering, planning, accounting and cost of railway fee. While in Luotang Power, they only have depreciation expense that have a relation of Allocated Non-Cash Cost, we can simply use the formula: Allocated Non-Cash Costs = (Standard Cost for Depreciation Expense 2011 – Actual Depreciation Expense 2011) From our calculation, the standard cost is lower if compared with the actual coal cost in 2011.From the table, it shows that – 44459 or can be denoted by 44459 U. Which shows unfavorable result. The main cause that contributes to increase of actual result is the standard cost of depreciation that have been planned is unachievable. In the previous two years, they recorded RMB 350320 in 2009 and RMB 349342 in 2010. The issue arises is why Loutang Power finance department decreases the standard cost significantly and unachievable. Our suggestion towards this company to minimize their unfavorable results is ma nage their plant in a very successful way and perhaps can decrease the unachievable amount of the fixed cost.Firstly, Luotang Power can minimize their cost of handling the management of their plant in a very strategic way. They have to manage the railway line regarding its fees, manage coal by maximizing the utilities of storage area, manage its boilers with a full efficiency of boiling point and so much more related to the site layout for 2x300MW Luotang Power Project. Next, they must take into consideration on achievable amount of the standard cost. It is essential to all standard cost setter to discuss among all of the directors and subordinates first before setting up the most accurate standard cost that can be used as a benchmark for a company. Porter Forces 1) Efficiency Based on data, we can see that Luotang Company doesn't have efficiency in producing electricity because cost for fixed expenses in the year 2011 are increasing. They have made by their own estimated or standar d cost on year 2011 but when comes to producing the actual cost incurred more than standard cost. This is showing that they fail to manage their production either capability of the machine or weakness of management itself. 2) Bargain of buyer Regarding to theory 5 Porter Forces, their purchaser has power of deciding the price. When we looking at the information, Luotang depend more on HPPC as a buyer.So this made difficulties to Luotang to decide their own price although they have an efficiency in production. 3) Bargain of supplier As we know, supplier as the important agent to determine whether our company successful or not, because we rely on their capabilities to supply us with quality raw materials and reasonable price, also willing to provide us when we need. In this case, Luotang depend on Pingdingshan and recently reported that coal quality had deteriorated about 3 % from the expected quality. CONCLUSION Luotang Power Company is an international power developers to finance, d esign, construct and operate coal-fired power plant.However due to the nature of our business, we have a big problem about our supplier that have gotten changed on 2011. The supplier has supplied low quality coal to Luotang and that disturbs the progress of the production. That has caused decreases demand from a loyal customer. And its affect the financial situation of the company. Besides that, several recommendations should be taken to ensure a successful implementation of the system in our company. First of all, purchasing department may also be held responsible for purchasing materials that can define the quality of the material.Besides that, Luotang also change the term of contract with the supplier, need to find other clients not to depend to HPPC, Luotang also should do fuel diversification to make sure there are several suppliers, and Luotang can minimize their cost of handling the management of their plant in a very strategic way so that they can improve their management we ll. In addition, what we have found by concept 5 Forces in this company that their faces during their production. There are ; Luotang not have efficiency in producing electricity because cost for fixed expenses in the year 2011 are increasing.Besides that, bargain of buyer that show their purchaser have power in deciding the price. And lastly, bargain of supplier that show there is a supplier that supply the raw material to Luotang. As a conclusion in overall, we can see that Luotang Power Company has a good performance in their production but it have decreased in year 2011 because there are several problems that unexpected, that come from the supplier and others. So that, Luotang should do in several ways to overcome the problem and prove it to the Boar of Directors.

Regional Integration Essay

The Pacific Forum region seeks a region of peace, harmony security, and economic prosperity. The diversity of its peoples seek value, honor in their cultures. The Pacific Region’s objectives include obtaining respect for its governance, sustainable management of its resources and its democratic values. The partnerships with their neighbors, to improve communications and secure a sustainable economy for all are the primary objectives for its members. Established in Bangkok, Thailand on August 8, 1967 the Association of Southeast Nations (ASEAN) was founded by Indonesia, Malaysia, Philippines, Singapore and Thailand. ASEAN is now comprised of 10 members including Brunei, Cambodia, Laos, Myanmar and Vietnam (ASEAN, 2013). An important and landmark agreement that ASEAN entered into was the ASEAN-China Free Trade Agreement. The region in which the ASEAN- China Free Trade Agreement will reach is about 1. 9 billion people. This agreement will surely test not only the members of ASEAN, but China as well. The region in which the ASEAN- China Free Trade Agreement will reach is about 1. 9 billion people. This agreement will surely test not only the members of ASEAN, but China as well (ASEAN, 2013). Positive Influence of the Asean-China Free Trade Agreement January 10, 2010 marked a ten year negotiation with China, when the ASEAN-China Free Trade Area Agreement became effective. Tariff reductions between China and six ASEAN members Malaysia, Brunei, Indonesia, the Philippines, Singapore and Thailand, will experience more than a 90 percent of products with a drop to near zero in both parties’ tariffs. The agreement was established with the idea that ASEAN countries’ natural resources and China’s large market would both benefit (Shamsi, 2010). Countries like Cambodia and Laos will benefit from the ASEAN-China agreement with zero tariffs on over 7000 goods from China, which will benefit these under developed countries tremendously. Less developed countries especially those with no stock market system will welcome this agreement and benefit greatly (Shamsi, 2010). The ASEAN-China Free Trade Agreement is China’s first free trade agreement and the first negotiated agreement ASEAN has been involved in with another country. The importance of this agreement will be seen when ASEAN nations being to use China’s currency Yuan. This can drive China’s Yuan to become a major global trading currency. This agreement is important in the movement for the regional economic environment (Shamsi, 2010). Negative Impact of the ASEAN-China Free Trade Agreement The economic head of ASEAN is Indonesia. The idea of the ASEAN-China Free Trade Agreement is not beneficial to ASEAN countries and should be re-considered. Indonesia has pointed out that the economy of China has recently increased and become powerful in global terms. The exemption from custom duties for Chinese goods ill challenges the local business survival with an influx of less expensive Chinese goods (Shamsi, 2010). Bankruptcy is a real possibility for industrial areas in the small and medium sized zones according to the chairman of the Indonesian Young Entrepreneurs Association. The automotive industry in Malaysia is also wary of this agreement in that the impact on local auto industries could be hit hard. The view from many ASEAN members is that the agreement much more benefits China than the ASEAN countries. China in size alone has a large market for domestic consumption and ability to export on a grander scale than that of ASEAN countries (Shamsi, 2010). The overall feelings in most ASEAN countries are that of mixes feelings, but mostly worry concerning the agreement. The population of China with 1. 3 billion people compared to the 600 million combined of ASEAN region is notable differences in terms of markets. The concept that took ten years to come to light, seems that with the changes seen in the economy of China, that the agreement still has the same fruitful benefits initially anticipated (Shamsi, 2010).