Fair‐Value Accounting Understanding Accounting and Finance

Question: Discuss about the Fairà ¢Ã¢â€š ¬Ã‚ Value Accounting for Understanding Accounting and Finance? Answer: Evaluation of the sources of finance of Bes Taste Introduction The report consists of the sources of finance of Bes Taste, as it wants to expand its business. The business of the company is associated with catering mainly. The company has approved its plan from the local authority. The plan consists of expanding its existing building as well as other fixed assets. The management has the intention of 1000000 to invest for the capacity expansion. However, it will borrow from the market for expansion in operation, as it will need more working capital. Therefore, the main challenge of this report is to present the feasible option of resourcing the capital as well as the working capital. The report has also maintain the insights on the different sources of finance during the analysis of availability of the resources. Sources of finance There are many sources of finance present in the market. However, not all of them are suitable for the companies to use in capital expansion. Thereby, it is required to make the decision on basis of some technical feasibility as well as on basis of some tangibility resources. In this context, the discussion would go on with evaluating the sources of finance in the market for capital expenditure as well as necessary working capital. Barth (2015) found that sources of long-term finance are different while the sources of working capital are from another world. The criteria of sourcing of those capitals from outside of the company is different too. However, Boczko (2012) saw that internal sources of finance could be used in the business for any purpose unless some regulatory constraints make the usage of the funds strict towards some definite activities. In this course of action, the sources of finance may be divided into two parts external and internal sources. However, the sources can be categorised into two parts further long-term and short-term sources. The different categories of finance may provide different solution and the test of feasibility for them are different too. Internal sources of finance According to Bodnar and Hopwood (2012), internal sources of finance are present in the balance sheet of the company. It is useful in expanding as well as to run the operating cost. The main resource is the retained earnings from the net profit of the business. Any business may use its past-retained earnings in its operation for meeting the expenses regarding working capital. However, Bragg (2013) found retained earnings as a part of reserve balance in the equity. Therefore, strictly speaking, the capital in the balance sheet can be the source of finance for incurring the expenses regarding capital expansion. However, the major problem with this fund is to transfer it at different level of activities. The reserve funds can be utilised in working capital too. However, there is another source current assets, which is used to meet the requirement of working capital. In this context, the major propulsion can be achieved in using the current assets speed. The short period of asset alloca tion can be used in running the operation on daily basis (Bodnar and Hopwood 2012). External sources of short-term finance The external sources of finance can be used in operating cost for the short-term requirements. The sources like short-term debt from the banks and the lenders in the market are the main resources of short-term finance for meeting the working capital requirements of the business. In addition to this, Boczko (2012) saw that the external sources could help the company to meet the emergency requirements of the operating cost as well. The treasury bonds and commercial paper in the financial market are two rich names of resourcing the short-term finances in the business. External sources of long-term finance The external sources of finance for long-term financing in the business is required for expanding the business mainly (Allatt 2001). There are many resources to acquire the long-term finance; however, not all of them are suitable for every company. Therefore, a management must conduct a feasibility test before making any decision to borrow or sourcing the funds from external sources. The feasibility must have covered the risk, cost of borrowing and the ease of availing the funds. The sources like long-term loans from lenders or by issuing the bonds in the market, venture capital or lease hiring of the machineries. The risk of long-term loans from the lenders is high as the future is uncertain and cannot be predicted always. In the meantime, the different types of funds is venture capital for expanding the business. In this regard, Baldwin and Bordoli (2011) saw that venture capitalist provides the seed capital for expanding a running business instead of some pledged shares or authori ty of proceeding with the management decision of the business. The funds are available for the entrepreneurs mainly and the borrowing cost is low. However, the risk is higher in this case than that of the taking loans from the market as the management may loss its power of making decision in the business (Bandy 2011). The lease-hiring cost in the business is low. However, it is possible for acquiring any new machineries mainly. The management may hire new machineries at low expense and run its operation by reducing its capital expenditure in a revenue year. It also helped to meet the desired cost of capital of the business (Barth 2015). Recommendation In the context of Bes Taste, the working capital can be met from the internal funds as the business has run well for the last six years. However, the cost of borrowing a long-term loan might reduce the profitability of the business. Therefore, it would be better to mobilise the working capital of the business by mixing with short-term loan and retained funds in the balance sheet. Further, the company needs to expand its catering business. The target of expanding the building as well as some other non-current assets needed funds too. The expansion of the building would be possible by borrowing long-term loans from the lenders or issuing the bonds in the market. The requirement of other non-current assets could be met by leasing them from the market. It would reduce the cost of borrowing for the long-term debt in the business of Bes taste. The risk of sourcing different funds in this expansion would be low as the risk associated with hiring machines is low. Further, the company might h ave some reserve in its hand to invest 1000000 for its business expansion program. Conclusion From the above report, it can be concluded that Bes Taste must source its long-term finance from the external market, as they may not be able to source it from its reserve. However, the requirements for the working capital can be achieved from the retained earnings as well as from the short-term debt. Collection of information from the final accounts of a business assistance in decision-making for the management According to Bragg (2013), final accounts provide us the information of profitability of the business as well as the financial position of the company for a certain period. The final accounts consist of trading, profit loss account and balance sheet of the business for a certain period or a financial year. In this context, the managers may get useful information such as profit and retained earnings from the business. It might provide the management an idea of reserve available from the revenue operation of the business. The trading account provides the information of revenue from buying and selling goods as well as the growth in the business (Harrison 2008). The balance sheet has the most importance in this regard, as the management may make important decision on analysing the financial position of the business. From the balance sheet, management may get the information of current assets and liabilities for operational purpose. It is important to know these two particulars as it pro vides the information on working capital management of the business (Dept 2014). The assets and the liabilities can send the information on long-term situation of the business and the capability of the company in that period. In addition to this, the position of the equity provides the information on capacity of the management. The equity and reserve provides the material to the management to assess their capacity to expand or to invest in the business (Collier 2012). In this context, Bes Taste can manage the expansion program by analysing its final accounts minutely. The position of the accounts in terms of assets and liabilities can be measured and the effective capacity to bear more debt in the company is understandable by evaluating the balance sheet. Further, the growth in the income of the business of Bes Taste can be seen from the income statements. The management may consider discussing on this matter for making better decision in expanding the business and sourcing the fund in this regard. Stakeholders requirement of accounting information Investors The investors normally try to gather all types of accounting information. However, they are limited to balance sheet and the profitability of the business. The position of the business by evaluating the assets and the liabilities of the business is the main objective for the investors to understand the future of the business. Further, they also like to know the capacity of repaying the investment by the company in terms of current financial situation (Finance basics 2011). Lenders Lenders of the market like to gather information on the credit position of the company in current situation. The debt position as well as the cost of interest of the company is valuable to them further, the creditors also analyse the materials on credibility of providing the loan to the firms on basis of the future development of business so that they can repay the loaned amount (Gilbertson and Lehman 2013). Employees and their representatives The employees of the firms usually want the information on the situation of the balance sheet and the long-term liabilities of the business. They also like to gather information on the revenue and trend of revenue from the past performance. Additionally, they need to know the accrued liabilities of the company due to their pension and retirement payment like superannuation. Customers The customers of the company normally do not need the accounting information. However, they may gather information like revenue generated from any segment or the accounting position of the business in B2B segment (Grieve 2013). In addition to this, the credit position is also important for the customers before doing business with the firms. The general public The public do not require the accounting information of a firm, as they have no interest in the business of the firm. Additional sources of finance Bank Overdraft The overdraft from the bank is a type of borrowing for the individual and the firms. As opined by Collier (2012), bank overdraft is considered as the loan for the business in zero balance. The firms get this loan on basis of some special requirements made between the two parties. The overdraft allows the company to run its operational expenses when they have insufficient funds in their balances (Hughes 2011). There are many reasons of occurring overdraft in the business. The main reason is to fulfil the requirement of cash deficit in the balance of the business. Thereby, the main challenge of an over drawn account is to maintain the overdraft amount under control as the interest rate of overdrawing amount is much higher than normal short-term loan. The overdrawing facility is available only for the current account. This facility is also available for the credit card holders with their savings accounts. The main advantage of this account is to maintain a positive cash balance in the business and the urgent payments can be made by overdrawing some amounts for emergency purpose (IMF. External Relations Dept. 2012). The overdraft is quickly available for the business accountholders as well as it is flexible to use. The main disadvantage is higher cost of interest. Usually, the interest rate is higher than the normal loan (Kay and Ovlia 2012). Trade credit The term is associated with the finance. It is a type of external sources of finance for short-term financing the business. The firms get this loan from its suppliers on payment of the goods and services taken from the suppliers. The credit sales is provided by the sellers to encourage the buyers to buy the products or services at no cost and may on later date (Young 2011). The credit instrument is not a formalised one and the percentage of credit is usually depended on the managements relationship with the suppliers. The main advantage of this type of credit is its flexibility and reduces the requirement of the capital in business. It also reduces the cost of interest. The cost becomes expensive for the company due to failing to pay the creditors on time the demerits of the trade credit. Terms Loan It is a formal instrument to get the short-term loan from the banks and the lending institutions for the firms. In this regard, the companies take this type of loan to pay the uncertain expenses for the ongoing projects mainly (Kieso, Weygandt and Warfield 2011). The term loan has the option to pay periodically for the borrowers. The main advantage of this loan is its low cost of financing as well as the flexibility of payment option for the borrowers. The repayment can be done in a negotiable period while the cost of interest is low (Messner 2015). The disadvantage of this loan is the risk associated with the loan as it acts like debt financing instrument in the business. Further, the lenders need the collateral security, which can be sold at any time due to failing repaying the loan by the borrowers. Ordinary shares The ordinary shares of the business are the number of shares present in the equity of the business. The shares issued and unissued in the business may be considered as the ordinary shares. The share of the business is basically the holding of authority in the firms by the investors who have bought the shares of any certain firm. The main advantage of this share is to get dividend from this shares as well as it provides the authority to hold the percentage of the rights of the company. However, the demerit of ordinary shares is uncertainty in payment of dividend and the risk associated with the price of the shares in future (Romney and Steinbart 2012). Retained profits Retained profit is a particular in balance sheet of the firms. The profit retained from the revenue accounts in the reserve of the business is known as the retained profit. The management decides on the percentage of payment as dividend from the profit of the business and rest of the portion is retained as the reserve. It is used in business or operation in future and an internal source of fund for expansion of the firms (Sanchez-Matamoros, Gutierrez-Hidalgo and Macias 2015). The major disadvantage of this fund is the classification of the retained earnings in different types of reserves like CSR reserve, general reserve, capital reserve etc. it is difficult to maintain the different types of reserve in the business and manage the mobility of the funds. Types of balance Items Debit Credit Revenue accounting Expense accounts Inventory Accounts payable R. Smith, Drawing Sales returns and allowances Purchases Purchase discounts Allowance for doubtful accounts Bank overdraft Purpose of trial balance As opined by Scarborough and Cornwall (2011), trial balance provides us the accumulated closing balances of the ledger accounts of the business of a certain period. The main purpose of preparing a trial balance is to balance all the different particulars in the accounting statements. It records the debit entry in the account and provide credit entry for every debit entry. It makes the entry of accounts balanced after a certain period. It also helps the accountants to find the error in accounting if the balance does not exist after preparing it (Tutt 2012). The trial balance ensures that all the data are considered from the ledgers assisting to identify the discrepancy in the accounting information (Atrill, Harvey and McLaney 2001). Journal of share issuing Debit Bank 180000 (150000*1+.2*150000) Credit Share capital 150000 (150000 Credit Share premium 30000 (.2*150000) [20% premium] Trial balance DR CR Capital 45000 Debtors 32900 Creditors 5000 Returns Add: credit note 2500 3450 5950 2710 Purchase Add: Error Add: Drawings of goods 25000 4500 29500 4590 Sales Add: Cash sales Less: Error 30485 24205 (3900) 50790 Discounts allowed Add: Discounts Allowed 6800 4275 Discounts received Less: Discounts received 5630 4275 9905 Drawings 8220 Wages and salaries 7000 Equipment 8000 Cash 24205 Receivable 6800 Credited to J Sullivan 1650 Suspense account 405 Total 126850 124795 References Allatt, G., 2001. Fairà ¢Ã¢â€š ¬Ã‚ value accounting: examining the consequences.Balance Sheet, 9(4), pp.22-25. Baldwin, A. and Bordoli, D., 2011A handbook for project planning and scheduling in construction. Bandy, G., 2011Financial management and accounting in the public sector. Barth, M., 2015. Financial Accounting Research, Practice, and Financial Accountability.Abacus, 51(4), pp.499-510. Boczko, T., 2012.Introduction to accounting information systems. Harlow, England: Pearson. Bodnar, G. and Hopwood, W., 2012.Accounting information systems. Upper Saddle River, NJ: Pearson. Bragg, S., 2013.Accounting best practices. Hoboken, N.J.: John Wiley Sons. Chisnall, P., 2001. Fair value accounting an industry view.Balance Sheet, 9(1), pp.27-33. Collier, P., 2012.Accounting for managers. Hoboken, N.J.: Wiley. Dept, I., 2014.Finance Development, December 2014. Washington: International Monetary Fund. Gilbertson, C. and Lehman, M., 2013.Century 21 accounting. Mason, Ohio: South-Western. Grieve, I., 2013.Microsoft Dynamics GP 2013 financial management. Birmingham, UK: Packt Pub. Harrison, I., 2008 Introducing Accounting for AS, 2nd edition, Hodder Education Atrill, P., Harvey, D. and McLaney, E. 2001 Accounting for business, 3rd ed. Oxford: Butterworth Heinemann. Hughes, S., 2011.Working in accountancy 2012. Richmond: Trotman. IMF. External Relations Dept., 2012. Finance Development, June 2011.Finance Development. Kay, D. and Ovlia, A., 2012.Accounting information systems. Boston: Pearson. Kieso, D., Weygandt, J. and Warfield, T., 2011Intermediate accounting. Messner, M., 2015. Does industry matter? How industry context shapes management accounting practice.Management Accounting Research. Romney, M. and Steinbart, P., 2012.Accounting information systems. Boston: Pearson. Sanchez-Matamoros, J., Gutierrez-Hidalgo, F. and Macias, M., 2015. Innovation in accounting thought and practice - an introduction.Accounting History, 20(3), pp.247-249. Scarborough, N. and Cornwall, J., 2011Entrepreneurship and effective small business management. Tutt, L., 2012.Accountancy. Teddington, Richmond Upon Thames [England]: Key Note Ltd. Young, D., 2011Management accounting in health care organizations.

Operations and Supply Chain Management Essay Example

Operations and Supply Chain Management Essay Although planning Involves determining how the various supply chain processes (sourcing, making, delivering, and returning) will be met, planning itself is not considered a supply chain process. False Delivering is not considered in supply chain analysis when outside carriers are contracted to move products to customers. False We will write a custom essay sample on Operations and Supply Chain Management specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Operations and Supply Chain Management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Operations and Supply Chain Management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Service Innovations can be patented. False Investors pay close attention to efficiency and productivity measures Like net Income per employee because they are interested in how well the firm manages its workforce elations. False Wall Street analysts are not particularly concerned with how efficient companies are from an operations and supply management view. False A doctor completes a surgical procedure on a patient without error. The patient dies anyway. In operations management terms, we could refer to this doctor as being efficient but not effective. True The goods-services continuum consists of which set of the following categories? Pure goods, core goods, core services, pure services Which of the following are defined as core goods? -Data storage systems Current Issues In SCM do not Include: Increasing global supply chain employment One of the package of features that make up a service is: Facilitating goods Supply chain refers to processes that move information and material to and from the manufacturing and service processes of the firm. True Although planning involves determining how the various supply chain processes (sourcing, making, delivering, and returning) will be met, planning Itself Is not A major aspect of planning involves developing a set of metrics to monitor the supply chain. True The approach that advocates making revolutionary changes as opposed to evolutionary changes is called creation theory. False The term electronic commerce refers to the buying and selling of electronic products and devices. False Attempting to balance the desire to efficiently use resources while providing a highly effective service may create conflict between the two goals. True Which of the following are not listed in the text as jobs in SCM? Data center manager The supply chain processes mentioned in the textbook are planning, sourcing, delivering, and returning. False

Adaptations and Marketing Strategies Used by Oil Firms in Nigeria

Introduction Nigeria has plans for increasing the production of oil to about 40 million. Nigeria is the chief oil producing country in Africa and is ranked the seventh internationally (NNPC 2004).The federal government aim at achieving 50% of the constituents in oil by 2010.Oil and other natural recourses are seen as national assets.Advertising We will write a custom dissertation sample on Adaptations and Marketing Strategies Used by Oil Firms in Nigeria specifically for you for only $16.05 $11/page Learn More However, research indicates that this is not true in case of Nigeria. Birdsall and Subramanian (2004, p.77) explain that many developing countries rich in natural resources and oil have a per capita income that is less than 1 dollar per day. Such countries have poor health indices, high infant mortality rates, low life expectancy and high levels of literacy. They further explain that the fluctuations in international prices result in dangerous econ omic cycles that make it difficult for the government to plan for development especially, if they use their money wisely during times of economic boom and run dry when there is a fall in oil prices resulting in an economic bust. According to Birdsall and Subramanian (2004, p.84), there is a Dutch disease when resources are discovered that makes the economy strong. The currency becomes strong which results in products being expensive in the global market that leads to less revenue and low export. This makes the economy suffer from economic slump. There are inadequately strong political and economic institutions in countries rich in resources. Researchers further show that countries that have resources like oil should adopt marketing strategies to improve on their performance (Obadina 2003, p.11). Petroleum is the leading mineral produced in Nigeria. It is largely established in the Niger Delta that is made up of Ondo and Imo states, Akwa Ibom, Bayelsa and Delta states. Oil exploratio n in Nigeria began in 1938. Today, Nigeria is the chief oil producer and exporter in Africa. Petroleum provides 70% of Nigeria’s foreign exchange. Nigeria accounts for 25 billion barrels out of the 66 billion barrels reserved by Africa. However, Nigeria has more oil and gas deposits but this has resulted in negative impacts consequently making the exploration of oil a curse rather than a blessing.Advertising Looking for dissertation on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This study has an intention of expanding the use of marketing strategies to improve on the performance of oil industry in Nigeria. To achieve objectives and goals that have been set by the organization, an organization should implement and design various marketing strategies. Various authors view marketing strategies in various perspectives for instance: It is seen as a matrix to plan, promote, produce, and mega market ideas, services, and goods that are applicable to clients and customers. It has been identified that Nigerians oil producing companies were not entrepreneurial and this was attributed to several factors: Inadequate trained manpower, poor development of infrastructure, and inadequate capital to employ marketing strategies in their oil companies. Problem Statement Some oil firms in Nigeria have been experiencing low sales from the sale of oil. Nigerians through occupy Nigeria are protesting against the removal of the subsidy claiming that this will affect the people of Nigeria, for instance, there might be a hiking of prices that will result in a commensurate increase in the cost of production of services and goods that will later be transferred to the community, leading to high rates of inflation. They claim that before the removal of the subsidy, the rise in the cost of production remained the same. The outcomes of this research will enable future research in this area, as well as will identify the strategies of marketing that will be used by oil firms in Nigeria and the impacts of the marketing strategies used to improve on the sale of oil. Purpose of the Study The aim of this research is to analyze strategic management as a way to success for oil firms in Nigeria. The majority of research that has been carried out focused on the environmental effects of oil exploration and exploitation. Even though exploitation of oil in Nigeria has resulted in adverse positive impacts on the economy of Nigeria, much has to be researched about marketing strategies used by oil firms in Nigeria to market oil products. Aims and Objective of the Study These objectives are formulated for the current study to be carried out: To evaluate the marketing strategies used by oil firms in Nigeria to Market their products. To evaluate an oil firm that has benefited from the use of marketing strategies in marketing of oil. To assess the efficiency of the marketing strategies in marketing of oil in Nigeria Research Questions This research will address the following questions:Advertising We will write a custom dissertation sample on Adaptations and Marketing Strategies Used by Oil Firms in Nigeria specifically for you for only $16.05 $11/page Learn More What are some of the marketing strategies used in marketing of oil products in Nigeria? What is the effectiveness of the use of these strategies in improving oil performance? Which oil firm has highly benefited from the use of these strategies? Literature review The expansion of oil producing companies in Nigeria is in relation with factors affecting competition. The expansion in companies for oil products in Nigeria is not in relation with the increase in awareness of gas and oil services to the interested clients in the public. The oil industry in Nigeria ids believed to have a type of corporate performance for the past years to attain a significant market share (Okwor 1992, p.8). There re various def initions of marketing strategies reflecting various aspects (Li et al 2000, p.6). Marketing strategy enable a company to utilize resources of an organization so as to achieve its aims and objectives. This will involve the use of environmental factors and marketing mix (Li et al 2000 p.20). The purpose of marketing strategy is to find the strength, nature, and the relationship between the environmental factors and marketing mix in a certain circumstances (Jain and Punj 1997, p.37). According to McDonald (1992, p.37), the aim of the marketing strategy in an organization is to defend, build, maintain, and establish its competitive advantage. The development of a marketing strategy requires the following: It needs one to have intensive knowledge of the business. It requires managers to have judgment, intuition and experience (Brownlie Spender 1990, p.42). One should have wide information about strategic management (Berry, 1997). This research will determine strategic management used by the oil industries in Nigeria, the effect of ecological factors on the marketing strategies and the efficiency of these marketing strategies. There are several marketing tools that can be used by marketers in marketing their products for instance: megamarketing (Kortler 1996, p.11), and the 4Ps of marketing. Many managers use the marketing concept to perform various services of a firm (Kotler Connor 1997, p.15). Marketing is a very important aspect that helps many organizations to achieve their goals and deal with challenges facing the business organization (Kotler Connor 1997, p.15). According to Brownlie and Spender (2005, p.38) strategic marketing involves making preferences. The method is used to help managers to in achieving their methods and goals. Woodward (2004) states that strategic management is a process of forecasting the future and coming up with appropriate procedures to enable one achieve his goals. Methodology The research method that will be used for this resea rch is a cross sectional survey. I chose this method because it can handle a large population. This survey method will be used to assess the function of strategic marketing in the survival and expansion of oil firms in Nigeria in order to attain the desired outcomes. I will choose 350 respondents from the target population of 2500 people through random sampling.Advertising Looking for dissertation on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More We will also use questionnaires to collect information from employees of oil companies in Nigeria. The stakeholders to be interviewed include: employees of oil firms in Nigeria, leaders and residents of other oil companies in the country (Nigerian Environmental Study/Action Team 1999, p.288). I will present data that I will analyze by use of frequency tables, descriptive statistics, correlation coefficients, and analysis of variance. Descriptive statistics will help me to analyze the features of the population as shown by the sample. It will also indicate if the marketing strategies used were effective in the oil industries in Nigeria. The target population for my research is employees of oil producing companies in Nigeria. An Overview of the Shell Petroleum Development Company of Nigeria Limited Shell Company started its business in Nigeria in the year 1937 and acquired a license of operation in 1938. It discovered its first oil field in 1958 at Oloibiri in Niger Delta and started to export oil in 1958 (Oshineye 2000, p.23). It is the largest fossil fuel company in Nigeria. Its major activity is exploration of oil and physical production. The exploration of gas and crude oil by the shell company in Nigeria has various activities that include the use of explosives and dynamites. Explosives are usually exploded from the earth through dry land and water bodies. This directly affects fauna and aquatic life (Prince 1993, p.230). It is claimed that the exploitation of oil by this company has negative effects like negative influence on the capability of mammals and sea birds to procreate. According to Sandberg (1996, p.12), the transportation process of the exploded natural gas and crude oil leads to gas leakages and oil spillage. It has also been claimed that oil production and exploration by Shell Oil Company has resulted in the abuse and violation of cultural, social and economic rights. Studies carried out indicated that this company uses marketing strategies li ke the market mix to improve on its performance. Discussion and Analysis The following are the techniques that I will use in analyzing information I have collected and the questions that will be answered: Data Editing This technique will be used to make sure that all information collected is monitored to avoid questionable and missing information. This will be maintained by monitoring technique to help detect any irregularity. Visual and manual will be utilized in editing before we computerize the collected information (Garrity Levings 1990, p. 140). This technique will also help us to code the questions. Data Cleaning We will use a computer to check the collected information. We will also use range checks that will help us to notice and correct any unacceptable values, to note and find any unusual values. Additionally, consistency checks will be used to determine every pair of interlinked information. They will be used to identify and rectify impermissible combinations, to note, a nd find strange combinations, and to determine the reasonableness of joint distributions. Anticipated Problems While carrying out this research, problems may arise when collecting information. For instance, one method that will be used for collecting information is questionnaire and the respondents may not be willing to answer my questions. Some of them may be illiterate so they may have problems in understanding the questions on the questionnaire. The possible solution to this problem is to approach individuals to read, understand, and request them to answer the questions. This may affect my entire research because the researcher may not be able to collect adequate information for my research. Anticipated Timetable Time Activity April Initial research Literature review May Completion of methodology June Completion of primary research July Analysis Final writing Company Liaison and Project Management In addition to my dissertation, I have been asked to fin d the possible solutions to the problems resulting from oil exploration. We have also agreed that I will visit the company twice a week. I will review the progress of my research with my company supervisor by frequently visiting the company. List of References Birdsall, N Subramanian, A 2004, Saving Iraq from it oil. Web. Brownlie, D. Spender, J.C 1995, ‘Managerial judgment in strategic marketing: Some preliminary thoughts’, Managerial Decision, vol.33, no.6, pp.39-50. Garrity, S Levings, S 1990, ‘Effects of an oil spill on the gastropods of a tropical intertidal reef flat’, Marine Environmental Research, vol.30, no.2, pp.119-153. Jain, S.C Punj, G 1997, ‘Developing marketing Practices: A framework Approach’, Marketing Intelligence and Planning, vol.7, no.3, pp.34-42. Kotler, P. Connor, R.A 1997, ‘Marketing of professional services’, Journal of Marketing, vol.5, no.4, pp.12-18.84 Li, S, Kinman, R, Duan, Y Edwards, J 2000, â⠂¬ËœComputer-based support for marketing strategy development’, European Journal of Marketing, vol.34, no.5/6. Mba, C 1995, ‘Mineral resources exploitation in Nigeria: the need for effective physical and environmental planning’, Paper presented at the 26th Annual Conference of Nigerian Institute of Town of Planners, Held at Hill-Station Hotel, Nigeria, October 1995. Mc Donald, M, 1992, Marketing plans: How to prepare them, how to use them, Butter worth- Heinemann, Oxford. Nigerian Environmental Study/Action Team, 1999, Nigeria’s threatened environment: a national profile. Web. Obadina, T 2003, Oil wealth as a curse for Africa’s poor. Web. Okwor, K 1992, ‘Oil industry and the Nigeria economy’, The Bullion, vol.9, no.3, July-Sept. Prince, R 1993, ‘Petroleum spill bioremediation in marine environments’, Critical Rev. Micobiol, vol. 19, no. 4, pp. 217-242. Salu, A 1999a, ‘Securing environmental protection in the Nigerian oil industry’, Modern Practice Journal of Finance Investment Law, vol.3, no.2, pp.222-260. Sandberg, EC 1996, ‘Development of remote sensing for coast guard applications’, Remote Sensing, vol.7, no.28, pp.12. Woodward, R 2004, ‘Technological expansion: The interaction between diversification strategy and organizational capacity’, Journal of Management Studies, vol.33, no.3, November, pp.701-712. This dissertation on Adaptations and Marketing Strategies Used by Oil Firms in Nigeria was written and submitted by user Emmett Hewitt to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. 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Free Essays on Data-Oriented And Conection-Oriended Networking

Data-oriented networking ABSTRACT Differentiates between connection-oriented and data-oriented networking, identifies the advantages of data-oriented networks, argues that Internet web architecture is becoming more data-oriented, and suggests ways of encouraging and accelerating this trend. Contemporary Internet architecture is heavily connection-oriented. IP underlies almost all Internet operations, and its fundamental operation is to deliver a data packet to an endpoint. TCP uses IP to sequence streams of data packets to those endpoints; higher-level services, such as HTTP, are built using TCP. All of these operations are based upon the underlying IP addresses, which identify specific machines and devices. Even UDP operations are connection-oriented in the sense that UDP addresses identify a specific machine on the Internet with which a connection (even just a single packet) must be established. Note that I use the term connection-oriented in a somewhat different sense than the traditional distinction between connection-oriented and connection less protocols. More recently, Uniform Resource Locators (URLs) have emerged as the dominant means for users to identify web resources. The distinction is not merely one of introducing a new protocol with new terminology, either. URLs are used to name blocks of data, not network devices. Especially with the advent of caching, it's now clear that a web browser may not have to make any network connections at all in order to retrieve and display a web page. "Retrieving" a URL differs significantly from opening an HTTP session, since an HTTP session implies a network connection to a named device, while accessing a URL implies only that its associated data (stored, perhaps, on a local disk) is made available. HTTP, SMTP, ssh, and other TCP-based protocols are inherently connection-oriented, while the URL is inherently data... Free Essays on Data-Oriented And Conection-Oriended Networking Free Essays on Data-Oriented And Conection-Oriended Networking Data-oriented networking ABSTRACT Differentiates between connection-oriented and data-oriented networking, identifies the advantages of data-oriented networks, argues that Internet web architecture is becoming more data-oriented, and suggests ways of encouraging and accelerating this trend. Contemporary Internet architecture is heavily connection-oriented. IP underlies almost all Internet operations, and its fundamental operation is to deliver a data packet to an endpoint. TCP uses IP to sequence streams of data packets to those endpoints; higher-level services, such as HTTP, are built using TCP. All of these operations are based upon the underlying IP addresses, which identify specific machines and devices. Even UDP operations are connection-oriented in the sense that UDP addresses identify a specific machine on the Internet with which a connection (even just a single packet) must be established. Note that I use the term connection-oriented in a somewhat different sense than the traditional distinction between connection-oriented and connection less protocols. More recently, Uniform Resource Locators (URLs) have emerged as the dominant means for users to identify web resources. The distinction is not merely one of introducing a new protocol with new terminology, either. URLs are used to name blocks of data, not network devices. Especially with the advent of caching, it's now clear that a web browser may not have to make any network connections at all in order to retrieve and display a web page. "Retrieving" a URL differs significantly from opening an HTTP session, since an HTTP session implies a network connection to a named device, while accessing a URL implies only that its associated data (stored, perhaps, on a local disk) is made available. HTTP, SMTP, ssh, and other TCP-based protocols are inherently connection-oriented, while the URL is inherently data...

Report Essay Example | Topics and Well Written Essays - 1500 words - 8

Report - Essay Example The council shall take important steps to promote business in these areas. Overdependence of a particular place on a given industry may prove to be harmful, as it might become unprofitable in the longer run, because of too many businesses in the same field. Also, this may also result in huge demand for infrastructural facilities in the Local Village area. The number of employees in small businesses range from a minimum of 2 to a maximum of 45. The mean number of employees hired by small businesses is 12 employees per business. Majority of the businesses in the council area hire 8 or 9 employees, of which 8 will be called the mode. The total number of employees hired by small businesses who responded is 1161. The median for the number of employees hired by small businesses in the area comes out to be 10. Mean is affected by outliers (Wisegeek, 2009), such as 45. In fact 75% of the companies hire less than 13 employees. Median suggests that half of the small businesses hire 10 employees. Since the mean is greater than the median, it implies that the distribution of the number of employees is positively skewed to the right (Sable, 1998). The council shall encourage locals to setup businesses by providing them tax schemes, schemes, and facilitate availability of business locations. Setting of special economic zones may be a useful step in that direction. As can be seen from the frequency distribution of the constraints responses, 40% of the owners said that they faced no constraints indicating that the council is doing a good job in helping small businesses. Some areas where council can improve is the availability of skilled labor force by setting up of educational and training institutes, and parking space. The pie chart below shows the percentage of constraints as faced by the business owners in Stapleton Borough: When asked if businesses have plans to relocate, majority (54%) said that they do not have

Conduct career comparison Essay Example | Topics and Well Written Essays - 250 words

Conduct career comparison - Essay Example The fact is that many end up specializing in finance as a major. Accountant on their part do the same subjects as their counterparts but take accounts as a major. In terms of salary, both professions fall in the same salary bracket of $1000 but financial analyst who performs consultancy duties tend to earn averagely higher than their counterparts in accounts. Salary is determined by the organizations the individuals work but comparatively, financial analysts earn slightly higher than their counterparts in accounting professional In incorporating Kuder results, accountants always feel more accomplished and feel that they directly contribute to the success of the business as they involved in daily operations. Financial analysts have a great sense of prestige as they feel that the decisions they make forms the financial path the business eventually takes. Compared to accountants Opportunity for advancement in the financial analyst profession is vast and he has an opportunity to interact with many organizations in his line of duty especially those in financial consultancy (Carter et al.,

Subject Specialism Reflection Essay Example for Free

Subject Specialism Reflection Essay I have a degree in Computer Networking and Communication. Since then I have been continually developing my subject knowledge via various mediums. I have been teaching my subject specialism for a number of years, and in that time I have gained tremendous amount of knowledge that has helped me to deliver more confidently to make the teaching and learning experience more enjoyable for me as a tutor and for the learners. The first point to mention here is the teaching observations they have helped me to plan and deliver my sessions according to the national standards. This has enabled me to demonstrate my knowledge of the subject area. I also attended one day course on Usability and accessibility on 7th February 2007 at The McDonald St Paul Hotel. The part that interested more was to learn and understand about the various challenges disable people face when using websites. Details of course in appendix. †¢ Disability Discrimination Act and legal obligations †¢ Overview of disabilities and assistive technologies †¢ Overview of standards and guidelines †¢ How to incorporate accessibility into an organisation †¢ Benefits of accessible websites This led me to investigate this issues further. The following website was quite useful: http://www.tiresias.org/ , it provides lots of guidance on how ICT can be made accessible for specialist use. I need to learn more regarding latest software and advance courses. I also need to deliver to more advance level of learners. An opportunity has arisen for me to develop my skills to do this. I shall be attending an advanced Excel course in a couple of weeks time organised Crown Enterprise and Training. I feel that in some areas of ICT I already have the requisite skills so it is important that I deliver higher end IT courses which would be more in line with my level of knowledge and skills. Otherwise my experience will only be of teaching at lower level of IT courses and very little experience of teaching higher level and that will not help my long term plans of teaching higher-level courses. I was actually a member of the British Computer Society, http://www.bcs.org/ , for a period of time, though this is no longer the case I do however continue to access their website regularly to update my knowledge on the latest developments in the computer industry as it relates particularly to using technology for learning and for professional development. I have developed myself academically and professionally through the first year of the PGCE course. I need to build on this foundation in the second year and extend both my pedagogic and professional skills. One of the key components that should help to do this would be the ICT module taught on the course. From the content of the module I look forward to learning how to design a web page. This should enhance my capacity in delivering my specialist subject area of IT by exploring the idea of using a web page to deliver part of my course/courses. I shall explore various websites for developing web pages and undertake any training that might become available. I also intend to develop my knowledge about learning to use Apple Mac in the first instance and then hopefully to apply this knowledge in order to teach Graphic Design. This is quite a challenging target and I would need to tap into all the available resources to achieve this. I need to identify some interactive websites and online learning materials that would allow me to enhance my professional and pedagogical capacities further. The important lesson for me to learn is as suggested by Hughes and Kennewell (2007, p.100) is to approach ICT so that â€Å" what becomes increasingly important is not so much what you know about a topic, but your willingness to learn new skills, to be open to advice and not to hide your ignorance of relevant knowledge. Regular reading of educational, professional and hobby literature in ICT will be important throughout your teaching careers, as well as attending local, regional and national conferences.† References British Computer Society, 2008. Professional Development. [online] (updated 5 May 2008) Available at: http://www.bcs.org/ [accessed 6 May 2008] Hughes Tiresias, 2008- Making ICT accessible for blind and partially sighted. [online](updated 10 May 2008) Available at: http://www.tiresias.org/ [accessed 11 May 2008]