Advantages Of Standard Costing Accounting Essay

Advantages Of Standard Costing Accounting Essay Despite the advantages just noted for some applications of standard costing, there are substantially more situations where it is not a viable costing system. Here are some problem areas: Cost-plus contracts. If you have a contract with a customer under which the customer pays you for your costs incurred, plus a profit (known as a cost-plus contract), then you must use actual costs, as per the terms of the contract. Standard costing is not allowed. Drives inappropriate activities. A number of the variances reported under a standard costing system will drive management to take incorrect actions to create favorable variances. For example, they may buy raw materials in larger quantities in order to improve the purchase price variance, even though this increases the investment in inventory. Similarly, management may schedule longer production runs in order to improve the labor efficiency variance, even though it is better to produce in smaller quantities and accept less labor efficiency in exchange. Fast-paced environment. A standard costing system assumes that costs do not change much in the near term, so that you can rely on standards for a number of months or even a year, before updating the costs. However, in an environment where product lives are short or continuous improvement is driving down costs, a standard cost may become out-of-date within a month or two. Slow feedback. A complex system of variance calculations are an integral part of a standard costing system, which the accounting staff completes at the end of each reporting period. If the production department is focused on immediate feedback of problems for instant correction, the reporting of these variances is much too late to be useful. Unit-level information. The variance calculations that typically accompany a standard costing report are accumulated in aggregate for a companys entire production department, and so are unable to provide information about discrepancies at a lower level, such as the individual work cell, batch, or unit. The foregoing list shows that there are a multitude of situations occur where standard costing is not useful, and may even result in incorrect management actions. Nonetheless, as long as you are aware of these issues, it is usually possible to profitably adapt standard costing into some aspects of a companys operations. Advantages of Standard Costing Though most companies do not use standard costing in its original application of calculating the cost of ending inventory, it is still useful for a number of other applications. In most cases, users are probably not even aware that they are using standard costing, only that they are using an guesstimate of actual costs. Here are some potential uses: Inventory costing. It is extremely easy to print a report showing the period-end inventory balances (if you are using a  perpetual inventory  system), multiply it by the standard cost of each item, and instantly generate an culmination inventory valuation. The result does not exactly match the actual cost of inventory, but it is close. However, it may be necessary to update standard costs frequently, if actual costs are continually changing. It is easiest to update costs for the highest-dollar mechanisms of inventory on a frequent basis, and leave lower-value items for intermittent cost reviews. Overhead application. If it takes too long to aggregate actual costs into cost pools for allocation to inventory, then you may use a standard overhead application rate instead, and adjust this rate every few months to keep it close to actual costs. production costs at different volume levels, since this may call for the use of longer production runs that are less expensive. Budgeting. A budget is always composed of standard costs, since it would be impossible to include in it the exact actual cost of an item on the day the budget is finalized. Also, since a key application of the budget is to compare it to actual results in subsequent periods, the standards used within it continue to appear in financial reports through the budget period. Price formulation. If a company deals with custom products, then it uses standard costs to compile the projected cost of a customers requirements, after which it adds on a margin. This may be quite a complex system, where the sales department uses a database of component costs that change depending upon the unit quantity that the customer wants to order. This system may also account for changes in the companys Nearly all companies have budgets and many use standard cost calculations to derive product prices, so it is apparent that standard costing will find some uses for the foreseeable future. In particular, standard costing provides a benchmark against which management can compare actual performance. Following through all the arithmetics of variances I have pin pointed reasons for the Material Price Variance, Material Usage Variance, Labour Efficiency Variance, and Labour Rate Variance. Material Price Variance occurs a failure to purchase the standard quality, thereby resulting in a difference price paid. This will lead into bad purchasing, in which is very discomforting the companys interest such as a rush purchase for an uneconomical markets, and also pushes a purchase of a substitute material on account of non-availability of the material specified by the company. This all are related to the interdependence at variances when it ensues an event has a favorable impact on one variance but an adverse impact on another variance. For example, the purchase of inferior quality materials may account for a favorable price variance but it may also have a negative impact on the material usage labor efficiency variance due to the quality causing an increase in usage. The adverse may also be affected by inflation and general increase in the market price. In such circumstances the selling price should be altered to refract the current market. Material Usage Variances may be affected by a whole lot of reasons such as carelessness in the use of material also affect the reason of material usage in resulting excessive consumption. Which brings us to the use of defective or sub-standard material that will cause spoilage to the material. Other reasons such as a change in t plant and machinery who also results to excessive consumption of material. The adverse on the variances is due to excess issues. Managers should check the stock are securely locked away that only the standard quantity is issued each day. And its not just that, There are a few more such as : Faulty workmanship Faulty material processing Pilferage of materials Use of material mixture, rather than standard mixture Labour Efficiency Variance is affected because of the actual hours used is greater than the standard hours, and it adverse is due to the use of an inappropriate standard that should be changed. Alternatively, there may have been idletime, ten working time should be synchronized. Bridget, C. (2012).  Standard Costing.  Available: http://www.accountingtools.com/standard-costing. Last accessed 28th Oct 2012.

Literacy and Young People Essay

The opportunity to apply for a specialist responsibility in supporting literacy development has arisen in your educational environment. For your interview you have been asked to prepare information to show that you can: Literacy means the ability to read and write. Only recently has the word ‘literacy’ been applied as the definitive term for reading and writing, mostly since the introduction of the National Literacy Strategy in schools. The skills of reading and writing complement each other and develop together, it therefore makes sense to use the term ‘literacy’. Reading and writing are forms of communication based on the spoken language. Effective speaking and listening skills are essential in order to develop literacy skills. The progression of literacy skills is a vital aspect of development and learning. Without the ability to read, write and listen children and young people may not be able to function effectively in school, college, university or at work or communicate with others about their ideas and participate fully and safely in the community. Literacy enables children and young people to express themselves creatively and productively. The majority of jobs and careers rely on an element of basic literacy (and numeracy) skills. Literacy is required in our everyday lives, to keep us safe by being able to read signs and follow instructions, read directions, reading newspapers, recipes, food labels, dealing with household finances. Literacy also enables us to progress with technology by being able use computers competently, surfing the internet and being able to read and write emails. As the heart of all learning lies the two key skills, literacy and numeracy. Literacy is possibly the more important of both skills as children and young people need literacy in order to access further curriculum areas, e.g in order to approach a numeracy problem, the question needs to be read and  understood before the answer can begin to be found. The development of literacy is important from an early age for all children and young people. As Teaching Assistants it is likely that we will be supporting children and young people with communication difficulties or other Special Educational Needs which could have an impact on their literacy skills, a situation may also arise where English is not the first language. It is important that children and young people are encouraged to explore the way the English language works, e.g phonics for vocabulary, reading, writing and spelling. This will enable children and young people to gain knowledge to be able to read, write and spell confidently. The learning objectives are associated to 12 strands in literacy to demonstrate progression in each strand. The strands are as follows:- Speak and listen for a wide range of purposes in different contexts 1. Speaking 2. Listening and responding 3. Group discussion and interaction 4. Drama Read and write for a range of purposes on paper and on screen 5. Word recognition: decoding (reading) and encoding (spelling) 6. Word Structure and spelling 7. Understanding and interpreting texts 8. Engaging and responding to texts 9. Creating and shaping texts 10. Text structure and organisation 11. Sentence structure and punctuation 12. Presentation Within my setting we aim to encourage children and young people to be able read and write with confidence, fluency and understanding, to be able to orchestrate a full range of reading cues (phonic, graphic, syntactic, contextual) to monitor their read and be able to correct their own mistakes. To understand the sound and spelling system and use this to read and spell accurately, have fluent, legible and cursive handwriting. To have an interest in words and their meanings and a growing vocabulary. To know, understand and be able to write a number of genres in fiction and poetry,  understand and be familiar with some of the ways in which narratives are structured through basic literacy ideas of setting, character and plot. The ability to understand, use and be able to write a range of non-fiction texts, plan, draft, revise and edit their own writing, have a suitable technical vocabulary through which to understand and discuss their reading and writing. Children are encouraged to be interested in books, read with enjoyment and evaluate and justify their preferences. Develop their own powers of imagination, inventiveness and critical awareness through reading and writing. In the Foundation Stage (Nursery and Reception) – Children and young people should be given the opportunity to speak, listen and represent ideas in their activities. Use communication, language and English in every part of the curriculum and to become immersed in an environment rich in print and possibilities for communication. All Key Stage 1 (Years 1 and 2) – Children and young people should learn to speak confidently and listen to what others have to say. They should begin to read and write independently (using phonic knowledge) and with enthusiasm. They should be using language to explore their own experiences and imaginary words. All Key Stage 2 (Years 3-6) – Children and young people should learn to change the way they speak and write to s uit appropriate situations, purposes and audiences. They should read a range of texts and respond to different layers of meaning in them. They should explore the use of language in literary and non-literary texts and learn how the structure of language works. Intervention groups are offered in speaking, reading, writing and listening to those children and young people who are under-attaining and booster groups for the more able. Where the pupils performance is significantly below average we will seek specialist provision such as speech therapy, EAL programmes and reading recovery will be accessed as needed. In Key stages 1 and 2, English sessions use the National Strategy unit plans (our own versions) focusing on shared reading, shared and guided writing and producing sustained outcomes. Further lessons are also used for focused activities in phonics, guided reading and comprehension. In Key Stage 1 there is a daily phonics session, daily guided reading and English lesson. There is one discrete handwriting session each week. In additi on to this, there is also a slot used for the development of speaking and listening and the class story. In lower Key Stage 2 there is also a daily phonics session, four guided reading sessions and a daily  English lesson. There is one discrete handwriting session every fortnight. Additionally there is also a slot used for the development of speaking and listening and the class story. In upper Key Stage 2 there is a daily phonics/spelling session, four guided reading sessions and a daily English lesson. There is one discrete handwriting session every fortnight. Additional there is a slot used for the development of speaking and listening and the class story. The monitoring and evaluation of the English policy is the responsibility of the English co-ordinator who is responsible to the head teacher and the governors for the development of English throughout the school. This is to be achieved in a variety of ways: Regular discussions with staff concerning the progress of groups and individuals Involvement in long and medium term planning across the school in English Regular classroom observation and working alongside colleagues to help identify strengths and weaknesses, to provide support to individual staff where appropriate Regular monitoring of resources, planning and children’s work Reviewing of assessment outcomes and data to evaluate the quality of learning in English throughout the school. Checking that within a key stage there is coverage of the full English curriculum in line with national curriculum requirements, the early learning goals and current National Primary Framework objectives (where used) Checking that appropriate opportunities to raise multicultural and gender issues are created and taken Ensure that the time spent on the teaching of English is meeting our pupils needs  Literacy Lessons are the same time each day, afte r morning break time. They are broken down into phonics and spelling, guided reading and English. The lesson starts at 10.45 and finishes at 12.30pm. The children start by gathering on the carpet area to be given an overview of what is happening in the day’s lesson. As a Teaching Assistant a discussion would have taken place with the Class Teacher prior to the lesson taking place to establish the lesson plan and what is expected of you for the lesson. Some Teaching Assistants may have been involved with elements of planning a lesson and able to give their own ideas as to how is the best way to carry out activities. It may be that you work with a designated group of children who have development issues and require more attention. It is important that  the Teaching Assistant works together with the class teach to monitor the progress of pupils in all areas of literacy development. This will usually ensure that the children and young people are focused and able to meet the learning objectives. Some pupils will require more encouragement to participate than others through the use of praise and feedback, whilst identifying any concerns or problems they may have. Monitoring of the children and young people also involves the relaying of information to the Class Teacher in respect of learning objectives and feedback as to how the tasks were managed and how to achieve their goals going forwards. We also carry out intervention activities in my setting where a group of children are taken out of the lesson by a Teaching Assistant to carry out some additional literacy activities to concentrate on tasks such as sounds of letter groups, reading sessions and basic spellings to help improve their literacy development. There are also groups of children who are taken out of lessons 3 times a week to carry out additional reading activities to help improve their reading skills. In our classrooms, we also use a ‘working wall display’ to show the key learning objectives for the terms activities and the pupils are able to use this to assist with their learning independently. Within my setting we also have a reading partners lesson on a Thursday morning where year groups visit other class rooms and read with each other, e.g Year 4 read with reception, Year 3 read with year 1 and year 2 with year 5. This gives children and young people to the chance to gain confidence in reading and speaking in front of other children who are of a different age and more developed. Bibliography Textbooks: Textbooks: Burnham,L, Baker,B (2010) Level 3 Diploma Supporting Teaching and Learning in Schools (Primary). Harlow. Heinemann part of Pearson Burnham,L(2002) Brilliant Teaching Assistant. Prentice Hall Kamen, T (2008) 2nd Edition Teaching Assistants Handbook NVQ & SVQ Levels 2 & 3. Maidstone. Hodder Education Primary School Literacy Curriculum Policy overview

Writing Assignments Help!

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Paradise Of The Blind, By Duong Thu - 1448 Words

In the story of life, time is a ravenous beast, destroying and building regardless and apathetic to whom it affects. An inescapable thing that never dies, but plagues people with its shapes of past, present, and future. In Paradise of the Blind by Duong Thu Huong, Duong doesn’t hold back when exposing the ugly face of the past. Hang, the protagonist, faces poverty, a broken family, and the loss of love from an early age, which force her mature quickly and harshly. Her exposure to such extreme, difficult circumstances and her subsequent adaptation result in her loss of innocence, instilling a bitterness in Hang that taints her. This bitterness - more of a mourning for her own childhood - exposes itself through Hang’s reflections on the†¦show more content†¦Duong’s decision to describe the snowflakes as â€Å"strange flowers† exposes Hang’s attachment to the landscape of her own home, and also the strangeness of this new landscape for her. The word choice of flowers and their connotation of spring provide contrast to the harsh winter. Hang’s simile comparing the snowflakes to a â€Å"luminous† childhood dream juxtaposes the description of them as â€Å"blinding shards† and â€Å"frail†, thus revealing Hang’s opinion of dreams as something rarely obtained. Surely as a child she imagined the best that might have happened, and had such optimistic hopes of what might have been. They are thus associated with sorrow by the simile, reflective of the cruel reality she faced when her dreams were suffocated as a child. The snowy landscape also triggers a more consuming flashback to a time in Hang’s childhood. Duong provides vivid imagery of the beautiful landscape of the bay - â€Å"Clouds floated like puff jade along the horizon, a line broken jagged by solitary rocks.. This endless jade-colored necklace fallen to the earth.† (Duong ) The metaphor comparing the clouds to a jade -colored necklace further emphasizes the landscape’s beauty and richness. The idea of a jade necklace, a material wealthy good, introduces the idea that the natural landscape is a gift, accessible by all. Duong emphasizes this with the subsequent sentiment that â€Å"beauty knows no frontiers, seduces without discrimination† (Duong 83). HangShow MoreRelatedParadise of the Blind Essay1520 Words   |  7 PagesWork in Translation Paradise of the Blind by Duong Thu Huong Final Draft Name: Chung Yee, Lee Candidate number: 003072-225 Year 11 QASMT Teacher: Ms Jennifer Russel Word Count: 1477 Work in Translation Paradise of the Blind by Duong Thu Huong In the novel, Paradise of the Blind, written by Duong Thu Huong originally in Vietnamese and translated into English by Phan Huy Duong and Nina Mcpherson, the author constructs characters Aunt Tam and Uncle Chinh as analogs of conflictingRead MoreHow Does Corruption Affect The Families And The Two Young Female Protagonists Portrayed1257 Words   |  6 PagesHow does corruption affect the families and the two young female protagonists portrayed in Americanah (Chimamanda Ngozie Adichie) and Paradise of the Blind (DÆ °Ã† ¡ng Thu HÆ °Ã† ¡ng)? 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When communism develops in a society, socialRead MoreParadise Of The Blind Essay1871 Words   |  8 Pages The significance of children in Duong Thu Huong’s Paradise of the Blind IB English Literature – WIT Assignment Reflective Statement Word Count: 370 Works in Translation Essay Word Count: 1404 Reflective Statement: â€Å"How was your understanding of cultural and contextual considerations of the work developed through the interactive oral?† Upon listening to the interactive orals, there is a distinct difference in the ideas presented by the author in the work, which does not apply with situationsRead MoreParadise Of The Blind Reflective Statement1819 Words   |  8 PagesReflective Statement: Upon first reading Duong Thu Hong s novel Paradise of the Blind, I was quite unaware about Vietnam after the Vietnam war and some of the paramount hardships with which people were faced with. However, the interactive oral discussions have given me a different perspective on the novel and I was able to delve into the subtleties and complexities of Vietnamese culture and some of its key characteristics. We discussed the significance of food within the novel. Prior to theRead MoreAnalysis Of Paradise Of The Blind 1483 Words   |  6 PagesLove in Paradise of the Blind As one explores the novel, Paradise of the Blind, the author Duong Thu Huong shows occurrence of the concept of love throughout her novel by manipulating each character to show this through both their actions and emotions. Although the characters are manipulated by the author to show love, it is the interactions between them that show us the deeper analytical meaning behind their perspectives of love. Thus, the concept of love is prevalent throughout Paradise of theRead MoreA1 MP Nguyen Thu Trang 1013103410 Words   |  14 PagesKinh Do in many fields of products. The table belows will show many typical examples of Kinh Do’s competitors. Type of product Competitors Snacks Pepsi (Poca), Bibica, Hai Ha, Trang An, Quang Ngai (Tin Tin) Crackers Hai Ha (Paradise, Sesame Cracker, Bissavit) Mooncake Huu Nghi, Thu Huong, Maison Des Gateaux,†¦ Cookies Hai Ha (Strawberry cookies, Coconut cookies), Quang Ngai. Sweets Quang Ngai, Perfetty (Alpenliebe, Mentos), Hai Ha, URC (Dynamite) Layer cake Bibica (Hura) In general, although Kinh Do