An Introduction to Debt Policy and Value Essay

What remains to be seen however, is whether shareholders are better or worse off with more leverage. Problem 2 does not tell us, because there we computed total value of equity, and shareholders care about value per share. Ordinarily, total value will be a good proxy for what is happening to the price per share, but in the case of a relevering firm, that may not be true. Implicitly we assumed that, as our firm in problems 1-3 levered up, it was repurchasing stock on the open market (you will note that EBIT did not change, so management was clearly not investing the proceeds from the loans in cash-generating assets). We held EBIT constant so that we could see clearly the effect of financial changes without getting them mixed up in the effects of investments. The point is that, as the firm borrows and repurchases shares, the total value of equity may decline, but the price per share may rise. Now, solving for the price per share may seem impossible, because we are dealing with two unknowns—share price and change in the number of shares: Share price=Total market value of equity

Close Reading Essay

The answers to these questions emerge more from the doing than the talking. Briefly, close reading is a basic tool for understanding, taking pleasure in, and communicating one’s interpretation of a literary work. The skills employed in close reading lend themselves to all kinds of cultural interpretation and investigation. Close reading takes language as its subject because language can operate in different ways to convey meaning. Reading sensitively allows one to remain open to the many ways language works on the mind and heart. When an assignment calls for close reading, it’s best to start by choosing a brief but promising passage and checking your assumptions about its content at the door. Close reading often reveals the fissures between what the speaker or narrator says and how she or he says it. You know from your own experience that life involves constant, often unconscious sifting of these nuances. Here are some useful steps. 1. Choose a short passage that allows you to investigate the details closely. Here, for example, is the first paragraph of Jane Austen’s Northanger Abbey, Chapter 2. In addition to what has already been said of Catherine Morland’s personal and mental endowments, when about to be launched into all the difficulties and dangers of a six weeks’ residence in Bath, it may be stated, for the reader’s more certain information, lest the following pages should otherwise fail of giving any idea of what her character is meant to be; that her heart was affectionate, her disposition cheerful and open, without conceit or affectation of any kind—her manners just removed from the awkwardness and shyness of a girl; her person pleasing, and when in good looks, pretty—and her mind about as ignorant and uninformed as the female mind at seventeen usually is. This single sentence will give us plenty to work with. 2. Look at diction. What kinds of words does Austen use? Does she aim for lofty diction (used for special occasions) or common diction? Are the words long or short, Latinate or Anglo-Saxon, specialized (i.e. legalistic, medical, jargon, elite) or ordinary? Remember that the rules for diction are different at different times in history. 3. Next, look at sentence structure. Can you map the sentence (find the subject and verb, locate phrases and clauses)? Is it a simple, compound, or complex sentence? How does the structure of the sentence relate to its content? Does the author use active or passive verbs? What rhythms does the sentence structure create—long flowing ones, short choppy ones—and how do these relate to the meaning? 4. After you have looked at language (and there are other technical issues one might pay attention to), you can begin to analyze tone. Is the narrator being straightforward, factual, open? Or is she taking a less direct route toward her meaning? Does the voice carry any emotion? Or is it detached from its subject? Do you hear irony? Where? If so, what complications does the irony produce? 5. At this point, you may discover some difference between what the author appears to be doing (giving you a complete, unbiased picture of her character) and what she also accomplishes (raising doubts about whether these qualities are worth having, whether her character is a heroine after all, whether women have minds at all, therefore whether this narrator can be trusted at all, etc.). You can now begin to talk about the ways Austen’s language, which seems to invite our confidence, is also complicating its message by raising these doubts. 6. At this point, you can propose a generic hypothesis, something like, â€Å"In this passage, Austen raises doubts about Catherine Morland’s character through her use of deliberately banal diction, her strained sentence structure, and her ironic use of the terms of character description for heroines.† 7. You can proceed to fill in the outlines of this point by explaining what you mean, using details and quotations from the passage to support your point. 8. You still, however, need an argument and will need to go back to your opening to sharpen the thesis. The question is Why? Or to what effect? Your thesis might build on what you’ve already written by suggesting: Austen creates this irony early in the novel to alert the reader to the ways she’s subverting narrative conventions. Or: The effect of this description of Catherine is to undermine any notion of her powers as a heroine and to introduce Austen’s theme that true character emerges from weakness rather than strength. Or: Austen’s cavalier treatment of her heroine suggests that she has little respect for the typical education of young women. 9. Even with these more developed statements, you will need to explain and support your point further. But you will have achieved some very important things, namely: 1) you have chosen a specific piece of the text to work with, hence avoiding huge generalizations and abstractions that tend to turn a reader off; 2) you have moved from exposition (explaining what’s there—and really, shouldn’t a reader be able to figure these things out for him or herself?) to arguing a point, which will involve your reader in a more interactive and risky encounter; 3) you have carved out your own reading of the text rather than taking the more well-worn path; 4) you have identified something about Austen’s method that may well open up other areas of the text for study and debate. Bravo! 10. With your more refined thesis in place, you can go back and make sure your supporting argument explains the questions you’ve raised, follows through on your argument, and comes to a provocative conclusion. By the end, you may be able to expand from your initial passage to a larger point, but use your organization to keep the reader focused all the way. The most exciting thing for a reader, and the most useful for an essayist, is that close reading generally offers surprises. Your project is not so much about telling readers what they probably can see for themselves but what they might have missed that could delight them. It’s helpful, then, to go into the paper with an open mind and be ready to adjust your thesis to the evidence you find in the text. Have a blast!

Cheating Essay

Cheating Essay There are many problems in the world everywhere we go. Businesses, school, homes. There is a big problem in schools, especially high school. Cheating Essay is a big problem for teachers and a headache to have to watch out for. Teens have figures that it is okay to cheat because everyone does it. Dishonesty has become a big factor in today society, and this effects everyone in some way. Cheating effects everyone in some way. Cheating occurs everyday, in every school. Cheating occurs even in the nicest schools, including private schools. This usually occurs when someone does not study for a test or just does not feel like thinking. Also, one might do it because he knows he can get away with it. There is a wide range of cheating that can go on in schools. It can be a simple as copying one word, to copying the whole test. Whatever the extent of the cheating, that does not make it right. In todays society, teens just assume that cheating is an exceptable way of getting through test. They dont care even though they know the consequences. Cheating effects me because when I study, someone else may do better than me because they cheated. This may ruin the curve for the class. And that is not fair because I could have gotten a better score. With that, sometimes I feel taken advantage of when someone kind of glances over at my paper. I dont always cover it up, but sometimes I do. Cheating can also make a person loose respect for you. They may figure that they can always cheat off of you. This will become a routine, and they will always do it. This effects my motivation to learn because I figure that studying is not worth it anymore. I figure that since everyone is cheating, I mind as well not study as hard. This can be frustrating because it ruins the learning environment in the classroom. Cheating widely effects others also. Excepting cheating only sends a negative massage to everyone. We are saying that teachers dont care, and you can get away with it. It shows how low out society has stooped to just get a grade. No matter what the motivation to cheat, the bottom line is that it is wrong. But today, so many do it, teachers have to watch even more carefully, and trust is broken forever. Trust is broken between everyone. In conclusion, we have faced the problem of cheating. We know it is there. But now the question is: What shall we do about it? That is hard because there are so many dishonest people who do not care in this world. For now, all we can do it tighten down on cheaters. And just dont let them cheat. If everyone would guard themselves against cheaters, they might give up. Of course that means we cant cheat off of others. We need to build back up our trust of people, because without trust our world will crumble. .

European Media Policy Essay Example | Topics and Well Written Essays - 2000 words

European Media Policy - Essay Example The media industry is booming day by day and is touching new horizons. Its importance is unparalleled in this society as it serves so many needs and without the presence of media, a certain loophole will be left which can not be filled by any other form of communication.1 When it comes to a media policy, this means that there should be regulation and governance in this industry too. The media, if let loose, can have damaging effects as well. Because it is the media of a country which represents the country worldwide and can have dangerous circumstances for the country if, at any point in time, the media broadcasts or prints something which hurts the social, political and emotional sentiments of some other race, culture or country. Therefore, media has to be regulated so that it is unbiased, so that proper rules are followed, so that coverage is done in a standardized form. The European Media Policy is the media policy which regulates the media channels found in the European Union. There is a forum known as the Information Society and Media, which has an European Commissioner and a Directorate General, presently they are Viviane Reding and Fabio Colasanti respectively. The Directorate General has included the "Media" in his responsibilities since January 2005 only. Before this date, he was only responsible for the Information Society. The European Commission also maintains a Commissioner of Communication, whose job description is to maintain links and contacts with the media and have a certain level of relationship with the media. 2 The aims of the European Media Policy is that it wants to see Europe as a landscape with a strong presence and foothold of media and it wants to have an expression based on the element of media pluralism. Another aim of the European Media Policy is to stand up to such a level where it can compete with other media industries on a global and international scale. Pros of European Media Policy One of the major pros of the European Media Policy is that it is seen as a national responsibility by all. Everyone who is concerned or related with the media takes full responsibility of bringing out the best they can in providing news and entertainment plus keeping in mind that every thing has its limitations. This can be generalized to a term self-governance. The stakeholders and the owners of media can self-regulate themselves so as to decrease the need for a strict overlook of the Government and Media Bodies in this matter. The second major pro of the European Media Policy is that when it comes to the media owners and the Government, neither of them have a stronger foothold than the other in the relationship that they share. If it had been such a case where the Government would have had an upper edge in this relationship that they share and would have been easily able to influence the media without the media having any say as to how the regulation should be done, then there would have been a problem. In the case of the European media policy, the media gets affected, directly or indirectly, with situations that take place on a Government level and likewise, the Government is affected by the way the media will

Financial Statement Forecasting Essay Example | Topics and Well Written Essays - 750 words

Financial Statement Forecasting - Essay Example There is no denying the fact that;" investors and share holders around the world base their decisions on financial and economic forecasts (Olley, 2006, 1)." Thus a professional, pragmatic and propitious financial statement forecast will fortify its plans of rapid future growth by exploiting novel business opportunities, undergoing product diversification and resorting to aggressive acquisition. The success of a company depends to a great extent on the reliability of its financial statement forecasting. To ensure this, it is a must that," the assumptions made in the previous Corporation Budgeting cycle, but not limited to, estimated sales volume, capital requirements, staffing resource requirements, customer demands and vendor contracts" are all meticulously verified and updated to reveal all the possible changes and the most recent data available (Harvard, 2008). All the possible changes projected or encumbered should be balanced by an appropriate action by the management. Microsoft Excel is the most common tool used during forecasting. Financial forecast has to be customized to suit the external and internal realities of a business and has to be flexible to accommodate future changes. The most common methodologies used for forecasting are Current Year Budget, Straight Line, Year to Date Actual plus Estimated Future Spending and Prior Year Data.Though the data required to achieve a financial forecast is basically the same as what is required to accomplish the budgeting process, forecasting differs from the budgeting process in the sense that a budget is a statement prepared a year in advance that gives guidelines for spending and acts as a yardstick for analyzing the business performance of a company, forecasting involves extrapolating the current performance of a company to estimate the future income, expenditure and growth prospects..References Financial Forecasting (2008). Harvard. Retrieved August 24, 2008, fromhttp://www.vis.harvard.edu/staff/policies/financial_forecasting.php Funky Finance (2008). CIMA. Retrieved August

Why bad projects are so hard to kill Essay Example | Topics and Well Written Essays - 250 words

Why bad projects are so hard to kill - Essay Example Bad projects are continued because of charismatic project champions who can easily influence key decision-makers in blindly supporting the project. Royer provides the example of Lafarge, where project members revealed that they immediately supported the project because the project champion believed it to be a future winner (53). When the â€Å"emergence of belief† in the project’s achievements is combined with strong management desire for success, the result is blind allegiance to a poorly-planned and assessed project (Royer 53). The power of charisma and grandeur visions of success can cloud the planning process and omit risk-assessment (Resch 41). Royer notes that some of the negative repercussions of bad projects are: large financial losses and resignation of exit champions. Lafarge lost $30 million (in 1992 dollars) and a new mineral-fillers manager who questioned the bad project’s feasibility (52). This manager represents exit champions who would have encour aged a critical approach in assessing the bad project. Widman provides some positive effects of bad projects, such as leading to new more promising projects. For instance, IBM 7030 or â€Å"Stretch† failed to be a feasible and profitable project, but resulted to the inventions of â€Å"pipelining, memory protection, memory interleaving and other technologies that have shaped the development of computers† (Widman 1). Thus, failed projects can lead to large losses of money and talent, but some can also lead to new

Madness Essay Example | Topics and Well Written Essays - 1000 words

Madness - Essay Example Finally after years of hospital visits, therapy, and lots of different types of medicine, Mayra found a routine that has worked for her so far. Like Mayra has proven and other people with Bipolar disorder know, this illness has no cure. It is a lifelong process of taking medicines to alleviate the symptoms of the disorder. Over the years the more doctors have learned about being Bipolar. When Mayra was first diagnosed, she got a generic Bipolar diagnosis. Now there is two different types of Bipolar; Bipolar I and Bipolar II. It was once thought that a person had long manic phases and long depressed phases, but as Mayra has shown her moods changed daily. Today doctors know more, but more research and study is needed. Like many people with Bipolar disorder, Mayra self medicated since her adolescence. Alcohol to come down or take the edge off her manic phases, pills to chase away the blues. After being hospitalized for her eating disorder, Mayra stopped taking pills. However her alcohol intake increased for years. She was also a cutter. After an almost near death experience after slitting her veins, she stopped regular cutting. Mayra did not receive help sooner than her thirties, even though diagnosed with Bipolar ten years earlier, because she did not take the disease seriously. Finally Mayra had to face the fact that she was never going to be normal, but with medicine could live with the disease. Once she stopped drinking, she still did not take the disease seriously. Only after addressing her illness, did Mayra find a tenuous balance with medicine and therapy. wards, medicine, detox, AA, and therapy. At first diagnosed with anorexia/bulimia, Mayra was hospitalized for that. The goal for treating anorexia/bulimia is to get a patient to eat. The weight Mayra gained or lost was more important than her mental state. They grouped her with other anorexia/bulimia patients that were depressed. The medicine Prozac might have helped Mayra with

Effective and non-effective medications used to treat OxyContin Research Paper

Effective and non-effective medications used to treat OxyContin addiction - Research Paper Example Effective and Non-effective Medications Used to Treat OxyContin and Opioid Addiction OxyContin is an extended release form of oxycodone, which was approved by the Food and Drug Administration in 1995 for the treatment of chronic pain. The FDA approval of this drug has played a role in overdose and death, as well as addiction, in the recent past (Okie, 2010). The molecular structure of OxyContin is similar to that of morphine, and is a member of the Phenanthrene family of compounds. OxyContin, or oxycodone, is a schedule II drug according to the Drug Enforcement Agency, and is used to treat moderate to severe pain and is DEA listed as a highly addictive medication. The drug itself, and not the metabolites, is the main cause of analgesia (Trescot et Al., 2008). Oxycodone and morphine were compared for similar psychotropic effects and dosage in healthy humans. It was found that the dosage ratio of oxycodone and morphine was approximately 3:1, as had been established in previous studies, but that the subjects experienced more pronounced psychotropic effects with oxycodone. The relief of pain, however, was similar with both drugs. Psychomotor impairment was similar with both drugs as well (Zacny and Lichtor, 2007). Intravenous administration of oxycodone, hydrocodone, and morphine was studied in healthy individuals to determine effects and potency. It was discovered that all three drugs had similar effects inducing dysphoria. However, potency was determined to be greatest in oxycodone, then morphine, then hydrocodone (Stoops et Al., 2010). The effects of oxycodone were compared to those of lorazepam and morphine in healthy individuals. Psychotropic effects were more pronounced in oxycodone treated patients compared to those treated with lorazepam. Unpleasant effects as determined by the patients were greater in oxycodone treated patients compared to those of lorazepam (Zachney and Gutierrez, 2002). Opioid withdrawal suppression was examined in healthy individuals wi th tramadol. After a regimen of oxycodone higher doses of tramadol suppressed withdrawal effects, as studies indicated. Feelings of sickness and nausea were initially associated with these effects, followed by suppression of oxycodone withdrawal effects. It was suggested that tramadol may be an effective drug for treating oxycodone withdrawal effects in humans (Lofwall et Al. 2007). Tramadol has low rates of diversion and abuse and mixed pharmacologic actions, including modest opioid agonist activity, and is an unscheduled atypical analgesic. To characterize the opioid withdrawal suppression efficacy of oral tramadol was the purpose of the study. Opioid dependent, residential adults were maintained on morphine for approximately six weeks. Substituting placebo for scheduled morphine doses 17.5 hours before experimental sessions that occurred twice weekly was the method for producing spontaneous opioid withdrawal. Under double-blind, double- dummy, randomized conditions, the acute eff ects of placebo, tramadol, naloxone, and morphine were tested. Outcomes included physiologic indices, psychomotor/cognitive task performance, and observer- and subject-rated measures. Prototypic opioid antagonist and agonist effects were produced by naloxone and morphine, respectively. Effects most similar to placebo were produced by Tramadol 50 and 100 mg. Tramadol 200 and 400 mg initially produced significant dose-related increases in ratings of â€Å"

Ocean Park (Hong Kong) Essay Example | Topics and Well Written Essays - 1000 words

Ocean Park (Hong Kong) - Essay Example There are three attraction areas in this park which include Headland, Lowland and Tai Shue Wan. The three areas are connected by a cable car, ocean express and outdoor escalator which is considered to be the second longest in the earth (Citi International Case Competition, 2008). The greatest attractions of Ocean Park include amusement park, an oceanarium and an open-air theme park. Hong Kong Ocean Park inaugurated a ‘flagship marine-themed zone’ – ‘Aqua City’ on 26th January 2011. It is the giant aquarium of Aqua City and became the latest attraction for the tourist. The aquarium features around 5,000 marine animals belonging to more than 400 species (China Travel Guide, 2011). 2.0 Strength and Weakness of Culture of Ocean Park 2.1 Strength In Southeast Asia, Ocean Park is the best park with its infrastructure on a mountainside. It is one of the largest entertainment and educational parks. Though it is quite old, it has been maintained properly (Orac le Think Quest, n.d.). Ocean Park is recognised as an iconic entity in Hong Kong, which is popularised with local people along with tourists. About 55% of the tourists are from China and other foreign countries. The people are provided with both educational and recreational facilities. ... They can acquire knowledge about the aquatic life from Chinese Sturgeon Aquarium, Atoll Reef and Sea Jelly Spectacular. At present the theme park has 19 rides along with two rollercoaster. 11 animals are displayed in the house such as a and Chinese sturgeon aquarium, giant panda habitat and a jelly fish A four-storyed aquarium demonstrates nearly about 2,000 fishes (Citi International Case Competition, 2008). In the lower part of the park, there is a parrot garden as well as garden theatre where various animals along with parrot perform shows. The upper portion have recreation centre of marine game which is on the top of the mountain (Oracle Think Quest, n.d.). The water world is also available in the Ocean Park which is greatly enjoyed by the people during summer season (Asian Info, 2000). The park has strong brand and has gained its popularity globally. The Ocean Park is rich in all the traditional cultures of China. The Chinese culture can be observed in this largest theme park. C able car facilities are provided to experience the natural view of southern coast, Aberdeen and neighbouring islands of Hong Kong. The prices range of Ocean Park is also competitive than other existing parks in Hong Kong (Bloom & Et. Al., 2005). 2.2 Weakness The park is located in the hillside thus it causes problem in land development. The financial strength of the Ocean Park is less. They are not getting any financial support and are dependent on their own income along with production cost. The park has developed various strategies to renovate the place but enough time will be required for the work. As the park was opened in 1977, it is much older than other parks. The attractiveness of the park has subsided, thus the tourists are less

Signficance Of The Study Essay Example for Free

Signficance Of The Study Essay Our study, which is how to make an effective Floorwax without using gas . Instead We used cooking oil (used). It has a lot of significance on life of everyone. The first one is that it helps us avoid Respiratory Diseases, how? For example You’ll use a Floorwax cleaning the floor because of the gas contained on it you may take the gas emitted by the Floorwax and it may affect your Respiratory System. Another importance of our study is it’s materials, especially the used cooking oil, because it’s already used you don’t need to buy it in the market just recycle your cooking oil and it’ll be good. Another significance of this study is observable when you apply it , Normal Floorwax was easily remove when water mixed on it , but on Our study it can’t removed easily by the water. Though Our study was just simple it has a lot of significance that may help the user with it,

Methods Used for Process Costing

Methods Used for Process Costing A process costing method is used for Indus trick producing chemical, petroleum, textile, and flour, pharmaceutical, shoos and coal. This type of costing is also used by firms manufacturing such things methods is the assembly type industry which manufactures such things as type writers, automobiles. Airplanes and house hold electric appliances. Finally certain service industries, such sagas, water, and heat, cost their products by using process costing methods. In fact process costing procedure are often termed continuous or mass production cost accounting procedure. http://www.principlesofaccounting.com/ART/c20art/steelprocess.JPG What is Process Costing? Process costing is a type of costing system that is used for uniform, or homogeneous, products. Process costing averages the costs over all units to come to the per unit cost. This is in contrast to other types of costing systems, such as job-order costing that is used for products that are in differentiated batches. Unlike job-order costing, process costing is tracked using a work-in-process account for each department, rather than through subsidiary ledgers] Process Costing In accounting, process costing is a method of assigning production costs to units of output. In process costing systems, production costs are not traced to individual units of output. Costs are assigned first to production departments and then to units of output as they move through the departments. The process costing method is typically used for processes that produce large quantities of homogeneous products. The process costing method is in contrast to other costing methods, such as product costing, job costing, or operation costing systems. Using the process costing method is optimal under certain conditions. If the output products are homogeneous, that is, the units of output are relatively indistinguishable from one another, it may be beneficial to use process costing. If the output products are of low value, meaning each individual unit of output is not worth much, it may be beneficial to use process costing. And if it is difficult or infeasible to trace production costs directly to individual units of output, it may be beneficial to use the process costing method. Examples of operations that are likely to use the process costing method as opposed to another costing method include a cola bottling plant, a breakfast cereal maker, a company that makes computer chips, and company that produces lumber, and a company that produces bricks. For example, for the company that bottles cola, it would not be feasible or worthwhile to separate and record the cost of each bottle of cola in the bottling process. Therefore, the company would assign costs to the bottling process as a whole for a period of time, and then divide that overall process cost by the number of bottles produced during that period of time to assign production costs to each bottle of cola. Process Costing Methods 5 Steps for Process Costing Analyze inventory flow Convert in-process inventory to equivalent units Compute all applicable costs Calculate the cost per unit of finished and in-process inventory Allocate costs to units of finished and in-process inventory First, analyze the cost-flow model of the relevant inventory account to determine how much inventory was there at the beginning of the period, how much was started during the period, how much as completed during the period, and how much is left as work-in-process at the end of the period. Second, convert the work-in-process ending inventory into a number of equivalent units produced. This means if there are 1,000 units of inventory in work-in-process, and these units are all 50% complete, then you consider this as the equivalent of 500 units produced (500 = .50 x 1,000). Third, compute the total direct and indirect costs incurred by the production process that need to be assigned to the units completed and the units still in process. This includes the costs associated with the beginning inventory and the costs incurred during the relevant period. Fourth, calculate the amount of cost to be assigned to the completed units of output and the equivalent of completed units of output still in the ending inventory. For example, if 2,000 units were completed, and 1,000 units were left half-finished, then you would divide the applicable costs by 2,500 units. Fifth, allocate the relevant costs to the units of product that were completed and to the units of product that remain in the work-in-process account. Source: Hilton, Ronald W., Michael W. Maher, Frank H. Selto. Cost Management Strategies for Business Decision, Mcgraw-Hill Irwin, New York, NY, 2008. Process Costing Procedures Process costing systems follow specific procedures, and while exact procedures may vary by company or by industry, they will generally follow these steps: While other types of costing start with a sales order, a sales order is not needed for process costing as it is a continuous process The work-in-process accounts are divided by department and are named as such for example: Work-in-process Department Name The first department in the process makes the first entry into the work-in-process account, generally for the direct raw materials As the products move from department to department, entries are made to each work-in-process department account Direct labor costs are recorded by period Actual overhead costs are recorded; no contra-account is needed because there is no over- or under-applied overhead due to the actual cost being applied Indirect costs are applied to the overhead account in actual amounts Normal spoilage is recorded as a cost to the work-in-process account; abnormal spoilage is removed from the work-in-process account and applied to a separate account so it can be addressed by management. When Is Process Costing Appropriate? Process costing is appropriate when products are homogeneous (or identical). Where job-order and other types of costing seek to find the cost per unit for batches of differentiated products, process costing seeks to find the average cost of all units over a period of time. Therefore, process costing is only appropriate when all units are the same. For example, a manufacturing company that produces only one homogeneous product may elect to use process costing. Characteristics and process of costing. The characteristics of process costing are: A cost of production report is used to collect, summarize, and compute total and unit cost. Production is accumulated and reported by departments. Costs are posted to departmental work in process accounts. Production in process at the end of a period is restated in terms of completed units. Total costs charged to a department are divided by total computed production of the department in order to determine a unit cost for a specific period. Costs of completed units of a department are transferred to the next processing department in order to arrive at the total costs of the finished products during a period. At the same time, costs are assigned to units still in process. Characteristics and procedure. Accumulate material, labor, and factory over head costs by departments. Determine a unit cost for each department. Transfer costs from one department. Assign coast to the inventory of work still in process. If accurate unit and inventory costs are to be established by process costing procedure, costs of a period must be identified with units produced in the same period. Features/Characteristics of Process Costing Process Costing Method is applicable where the output results from a sequence of continuous or repetitive operations or processes and products are identical and cannot be segregated. Process Costing enables the ascertainment of cost of the product at each process or stage of manufacture. The following features may be identified with process costing: The output consists of products which are homogenous. Production is carried on in different stages (each of which is called a process) having a continuous flow. Production takes place continuously except in cases where the plant and machinery are shut down for maintenance etc. Output is uniform and all units are identical during each process. It would not be possible to trace the identity of any particular lot of output to any lot of input. The input will pass through two or more processes before it takes the shape of the output. The output of each process becomes the input for the next process until the final product is obtained, with the last process giving the final product. The output of a process (except the last) may also be saleable in which case the process may generate some profit. The input of a process (except the first) may be capable of being acquired from the outside sources. The output of a process is transferred to the next process generally at cost to the process. It may also be transferred at market price to enable checking efficiency of operations in comparison to the market conditions. Normal and abnormal losses may arise in the processes There are a number of industries in which process costing can be applied. Elements/Components of Cost Process, cost, accounting, recording, direct, indirect, costs For the purpose of cost accounting, the process industry is divided into separate departments with each department representing a specific process. The Direct Material and Direct Labor/Labor Costs are collected for each department separately and the overheads which are collected over all the departments/processes are apportioned over the various departments/processes on some rational basis. The following are the main elements/components of costs involved in the manufacturing process where process costing method is adopted. Direct Materials There are two types of materials that we come across in process costing. Primary Material Materials which are introduced in the initial process and passed on to the next process as a part of output after completion of processing. Secondary Material Materials which are introduced in the first or subsequent processes in addition to the main material introduced in the initial process. This gets mixed up with the main material and is passed on to the subsequent processes as a part of the output. Direct Labor/Labor The direct labour/labor cost is generally incurred in every process. Identification of direct labour cost is also relatively easy in process costing industry Direct Expenses Expenses in addition to Direct Material and Labor which can be directly attributable to a particular process. These are costs relevant to specific processes. Production Overheads The overhead expenses are generally expended over all the processes involved in production. These are to be apportioned over the various processes in an amicable manner. Methodology of Recording/Accounting Costs Financial Accounting Methodology is adopted for recording costs involved. Process Accounts A nominal account for each process is used to record all the costs relevant to a process. Each process account is Debited with The Primary Direct Material Cost Secondary Direct Material Cost Direct Labor Cost Direct Expenses and Production Overheads allocated and/or apportioned to the process. Credited with The value of output transferred to the subsequent process or finished stocks. Numbers, Alphabets or any word or phrase representing the process are used as suffixes/prefixes in the names (Process I a/c, Process A a/c, Refining Process A a/c, etc.,.) to distinctly identify the processes accounts. Process Stock Accounts Stocks relevant to a process are maintained in a separate stock account. Stock accounts for input may be maintained where all the input acquired/received for a process during a period is not used up. Stock accounts for output may be maintained where all the output produced/completed in a process during a period is not disposed off either by transfer to the next process or by sale. Where the output relevant to a process is sold apart from being transferred to the next process, it generates revenue. These revenues relevant to a process, are generally recorded using the process account or the stock account. FEATURES of Process Costing The product of one process becomes the INPUT OR RAW MATERIAL of the next process; There is a CONTINUOUS FLOW OF IDENTICAL OUTPUT; It is DIFFICULT TO IDENTIFY A COST UNIT because each cost unit is part of a process; It is difficult to cost a cost unit hence we can only find the AVERAGE COST PER UNIT over period of time; COST CENTRES are set up and costs are collected by the cost centers; It is possible that JOINT PRODUCTS may be produced in the processes; WASTE may arise during processing eg due to evaporation, etc Each process or department performs a particular operation(s). A certain stage of production is completed in each process. Each process is carried out by a certain department. A person is usually responsible for a process. An account called a PROCESS ACCOUNT is maintained for each process. This process account captures/records the following: All costs-materials, labor and overheads; Scrap Output Opening work-in-process Closing work-in-process Transfers from previous process Losses or gains Reasons for use Companies need to allocate total product costs to units of product for the following reasons: A conducts are manufactured in large quantities, but products may be sold in small quantities, sometimes one at a time (automobiles, loaves of bread), a dozen or two at a time (eggs, cookies), etc. Product costs must be transferred from Finished Goods to Cost of Goods Sold as sales are made. This requires a correct and accurate accounting of product costs per unit, to have a proper matching of product costs against related sales revenue. Managers need to maintain cost control over the manufacturing process. Process costing provides managers with feedback that can be used to compare similar product costs from one month to the next, keeping costs in line with projected manufacturing budgets. A fraction-of-a-cent cost change can represent a large dollar change in overall profitability, when selling millions of units of product a month. Managers must carefully watch per unit costs on a daily basis through the production process, while at the same time dealing with materials and output in huge quantities. Materials part way through a process (e.g. chemicals) might need to be given a value, process costing allows for this. By determining what cost the part processed material has incurred such as labor or overhead an equivalent unit relative to the value of a finished process can be calculated. Comparisons Similarities between job order and process costing include: Both systems have the same basic purpose-to calculate unit cost Both systems use the same manufacturing accounts The flow of costs through the manufacturing accounts is basically the Same. However, there are some important differences between job order and processing costing as described below. Job Order Costing Process Costing Each job is different All products are identical Costs are accumulated by job Costs are accumulated by department Costs are captured on a job cost sheet Costs are accumulated on a department production report Unit costs are computed by job Unit costs are computed by department Study the production flow and the cost flows of companies which use process costing in Exhibits 4-2, 4-3, and 4-4. Note that as units are partially completed in one department they proceed onto another department for further processing. This will require a journal entry such as: Work in Process Department B Work in Process Department A When the products are completed they are transferred from the final processing department to Finished Goods. Study the model journal entries on Pages 149-150. A complication arising in process costing is that not all units may be completed at the balance sheet date. To calculate unit costs, it will be necessary to compute equivalent units of production. Equivalent units can be defined as the product of the number of partially completed units times the percentage completion of these units. If there are 300 of partially completed units at year-end which are 40% complete, then there are 120 equivalent units. If say 5000 units were completed during the period, the managerial accountant would add 5000 and 120 to arrive at 5120 equivalent units completed during the period. Then total department costs for the period (direct material, direct labor, and overhead) would be divided by the 5120 equivalent units to arrive at cost per unit. Equivalent units can be computed in two different ways, the weighted average method and the FIFO method. We only cover the weighted average method in this course and therefore skip Appendix 4A. Companies using process costing prepare departmental production reports. Exhibit 4-9, Page 158, is a production report for Double Diamond Skis Shaping and Milling Department. Note that the production report consists of three parts as follows: A quantity schedule which shows the flow of units through the department and a  computation of equivalent units A computation of costs per equivalent unit A reconciliation of all cost flows into and out of the department Also note in Exhibit 4-9 that the equivalent unit totals are different for material costs and for conversion costs. This frequently happens as all material is input at the start of the production process but the direct labor and overhead costs are incurred sometime later. 7. Mention of sources used 1. Process Costing Systems What is it and when is it used? A process-costing system is a costing system in which the cost of a product or service is obtained by assigning costs to masses of like or similar units. Unit costs are then computed on an average basis. Process-costing systems are used in industries that produce like or similar units which are often mass produced. In these industries, products are manufactured in a very similar way. The companies usually use the same amount of direct materials, direct manufacturing labor costs and manufacturing overhead costs. Industries that use process costing systems are for example: chemical processing, oil refining, pharmaceuticals, plastics, brick and tile manufacturing, semiconductor chips, beverages and breakfast cereals. The difference between job costing and process costing is the extent of averaging used to compute unit costs of product and services. The cost object in job costing is a job that constitutes a distinctly identifiable product or service. The quantity of manufacturing resources is different in any job. It would be incorrect to cost each job at the same average manufacturing cost. So, when like or similar units are mass produced, process costing averages manufacturing costs over all units produced. The costs of a product are important for inventory calculations, pricing decisions and product profitability analysis. Its also important for measuring how well the management is done and if costs are reduced effectively. Illustrating process costing The best way to show how process costing works, is by example: Global Defense, Inc, manufactures thousands of components for missiles and military equipment. One of these is called DG-19. The product-costing system for DG-19 has a single direct-cost strategy (direct materials) and a single indirect-cost category (conversion costs). Each unit passes through two departments: the Assembly Department and the Testing Department. Every effort is made to make sure that all DG-19 products are identical. Direct materials are added at the beginning of the process in Assembly. Additional direct materials are added at the end of processing in the Testing Department. Conversion costs are added evenly during both processes. They include manufacturing labor, indirect materials, energy, plant depreciation and so on. After leaving the Testing Department, the DG-19 component is transferred to Finished Goods. 2. Three cases 2.1 Case 1: Process Costing with no beginning or ending work in process inventory During January, the first month of the period, Global Defense starts with the manufacturing process. All units will start and end in this period. Altogether, Global Defense will manufacture 400 units of DG-19 during this period. Direct materials in this period: $ 32.000 Conversion costs in this period: $ 24.000 _______ Total Assembly costs in January: $ 56.000 Global Defense records direct materials and conversion costs in the Assembly Department as these costs are incurred. By averaging, the assembly cost per unit would be $ 56.000 / 400 units = $ 140: Direct materials costs by unit ($32.000 / 400) $ 80 Conversion costs per unit ($ 24.000 / 400) $ 60 _____ Assembly Department cost per unit $ 140 Each unit is identical in this case, so we assume that all units receive the same amount of direct materials and conversion costs. The unit costs can be averaged by dividing total costs in a given accounting period by total units manufactured. This approach is for example used by banks to compute the unit costs of 100.000 similar customer deposits made in a month. It is usually used by organizations with mass production of standard units and no incomplete units after the period. 2.2 Case 2: Process costing with no beginning but an ending work in Process Inventory There is no beginning inventory in February, because all 400 units produced in January had been fully completed. Due to customer delays in placing orders, it was only possible to produce 175 units in February. The 225 partially assembled units as of February 28 were fully processed with respect to direct materials, because all direct materials in the Assembly Department are added at the beginning of the assembly process. Conversion costs are added evenly during the assembly process. Based on the work completed relative to the total work required to be done, an Assembly Department supervisor estimates that the partially assembled units were, on average, 60 % complete as to conversion costs. Total costs for February: Direct materials costs in February $ 32.000 Conversion costs February $ 18.600 _______ Total Assembly Departments costs $ 50.600 Problem: How should Global Defense calculate the cost of fully assembled units and the cost of the partially assembled units still in process? The following four steps help us to find the answer: Step 1: Summarize the flow of physical unit of output Step 2: Compute output in terms of equivalent units Step 3: Compute equivalent unit costs Step 4: Summarize total costs to account for and assign these cost to units completed and to units in ending work in process Step 1 tracks the physical unit of output. It shows, where they come from and how many units are there to account for, and where they go and how they are accounted for. Step 2 measures the output in equivalent units, not in physical units, because not all units had been completed. The 400 units are complete in terms of equivalent units of direct materials, because all direct materials are added in the Assembly Department at the initial stage of the process. So you count all 400 units in equivalent direct costs. The 175 fully assembled units are completely processed with respect to conversion costs. The partially assembled units in ending process are 60 % complete (on average). Therefore, the conversion costs in 225 partially assembled units is equivalent to conversion costs in 135 (60% of 225) fully assembled units. So, 310 equivalent units of conversion costs are assembled and transferred out and 135 equivalent units are in ending work in process inventory. In step 3, equivalent unit costs are computed by dividing direct materials and conversion costs added during February by the related quantity of equivalent units of work done in February: Direct costs Conversion costs Costs added during February: $ 32.000 $ 18.600 Divide by equivalent units work done in February: / 400 / 300 ________ _________ Cost per equivalent unit of work done in February: $ 80 $ 60 In Step 4, total costs to account for are summarized and assigned to units completed and transferred out and to units still in process at the end of February. Since the beginning balance of the work in process is zero, total costs to account for consist of the costs added during February: direct materials $ 32.000 and conversion costs $ 18.600. Direct material costs are 225 times $80 (=$18.000) + Conversion costs: 135 times $60 (=$8.100). Total costs are therefore: $18.000 + $8.100 = $26.100. 2.3 Case 3: Process costing with both beginning and ending work in process inventory In march, Global Defense has 225 partially assembled units in the Assembly Department. During march, Global Defense placed another 275 units into production. Step 1 traces the physical units of production. In march, 400 units are completed and transferred out, 100units are in ending inventory. Step 2 computes the output in terms of equivalent units: 275 equivalent units of direct materials and 315 equivalent units of conversion costs. Step 3 computes equivalent unit costs. Direct materials: $ 80; conversion materials: $ 60 Step 4 summarizes total costs to account for and assigns these costs to units completed and to units in ending work in progress. The costs that get assigned to each of these categories depend, as in all inventory accounting, on the specific assumptions regarding the flow of costs. Next are described to alternative methods, the weighted-average method and the first-in, first-out method. 3. Weighted-average method The weighted-average process-costing method assigns the average equivalent unit cost of all work done to date (regardless of when it was done) to equivalent units completed and transferred out, and to equivalent units in ending inventory. The weighted-average cost is simply the average of various equivalent unit costs entering the work in process account. 4. First-In, First-out Method The First-in, first-out (FIFO) process-costing method assigns the cost of the earliest equivalent units available (starting with the equivalent units in beginning work-in-process inventory. This method assumes that the earliest equivalent units in work in process Assembly account are completed first. 5. Transferred-in costs in process costing Transferred-in costs (or previous department costs) are costs incurred in a previous department that are carried forward as part of the products cost as it moves to a subsequent department. That means, costs move with the units when they are transferred to a new department. So, computations of Testing costs must include transferred-in costs, additional direct materials costs and conversion costs added in Testing. The four -step procedure is used to account for the costs of a subsequent department that has transferred-in costs. Units are fully completed as to transferred-in costs because these costs are just carried forward from the previous process. Direct materials costs have a zero degree of completion in both beginning and ending work-in-process inventories, because in Testing, direct materials are introduced at the end of the process. That completes steps 1 and 2. 5.1 Transferred-in Costs and the weigthed-average method In step 3, the equivalent unit costs are computed. In step 4, the total costs to account for are summarized, that is the total debits to Work in Process under the weighted-average method. After that, these costs are assigned to units completed and to units in ending work-in-process inventory. Beginning work in process and work done in the current period are totaled and merged together for purposes of computing weighted-average costs. A company may split the Work in Process account into Work in Process Testing, Transferred-in Costs, Work in Process Testing, Direct Materials and Work in Process Testing, Conversion costs. The journal entries would contain this detail, though the underlying reasoning and techniques would be unaffected. 5.2 Transferred-in Costs and the FIFO-Method The costs transferred-in from the Assembly Department are different when the weighted-average rather than the FIFO method is used in step 3. In step 4, the total costs to account for are summarized, consisting of the beginning inventory plus costs added during the current period, under the FIFO-method. These costs differ from the total debits to Work on Process under the weighted-average method, because of the different costs of completed units transferred-in from the Assembly Department under the weighted-average and FIFO methods. When assigning costs, the FIFO method keeps the beginning inventory separate and distinct from the work done during the current period. Each department in interdepartmental transfers is regarded as being separate and distinct for accounting purposes. All costs transferred in during a given accounting period are carried at one unit cost figure, regardless of whether previous departments used the weighted-average or the FIFO method. 6. Common Mistakes with Transferred-in Costs Here are some common pitfalls to avoid when accounting for transferred-in costs: Remember to include transferred-in costs from previous departments in your calculations. Such costs should be treated as if they were another kind of direct material added at the beginning of the process. In other words, when successive departments are involved, transferred units from one department become all or a part of the direct materials of the next department; however, they are called transferred-in costs, not direct materials costs. In calculating costs to be transferred on a FIFO basis, do not overlook the costs assigned at the beginning of the period to units that were in process but are now included in the units transferred. Unit costs may fluctuate between periods. Therefore, transferred units may contain batches accumulated at different unit costs. Units may be measured in different terms in different departments. Consider each department separately. Unit costs could be based on kilograms in the first department and liters in the second , so as units are received by the second department, their measure

The Significance of D-Day :: essays research papers

D-Day Description Before I begin I must tell you of the start of World War II. August 1939, Hitler sends a secret telegram to Joseph Stalin, the Soviet leader. In the secret telegram Hitler writes that the tension between Germany and Poland is unbearable. Stalin replies to Hitler a few days later with his word that he will not interfere with their plans. Britain and France here about this and warns Hitler that if Germany invades Poland that they are prepared to go to war. On September, 1st Germany, using blitzkrieg tactics, invades Poland. The Poles, being very unprepared, suffer the ferocity of the Germany?s attack. Two days later Britain and France declare war against the Axis. This would be the beginning of WWII. In order to tell you about D-Day, I must tell of the events that led up to it. In 1942 the British were being pressured by leaders of the United Sates to commence a massive attack against Germany across the English Channel into occupying France by the spring of 1943. Hesitantly, ?Operation Roundup? was scheduled to commence in 1943 by the British. Soon after, the British realized that the massive cross-channel attack required an extremely more abundant amount of massive forces, ships, landing craft and supplies. This changed the course for British allied forces from France to an attack against the Germans in North Africa. This would be a victory on the allies? part in May 1943. This victory delayed the battle of D-Day by a year and affected it in another way as well. Even though the German Field Marshal Erwin Rommel had lost the battle in North Africa, people still regarded him as a hero. An invasion across the English Channel was well known by the Nazis. Therefore Rommel wa s tasked with ultimate responsibility for defending Northern France, Belgium and Holland against the allies. Rommel, with pride, willingly made improvements to defence and artillery stations such as casements along the coast and attempted to predict the Allies next move. Although the Allies invasion plans were well underway, they were unsure whether a cross-channel invasion would be possible in the spring of 1943. Under Sir Frederick E Morgan?s command a planning team was assembled to study the possibilities in March 1943. By this time the Americans were becoming more impatient. By June 1943, German U-boats had been largely destroyed by Allied anti-submarine sea and air and had withdrawn from the North Atlantic.

leagalize the green :: essays research papers

Seth Ingram   Ã‚  Ã‚  Ã‚  Ã‚  The wide ranging and imposing site of Dover Castle in Kent, England has been used in various forms as a defensive stronghold for over two thousand years (Microart ). Many years before the Normans ever arrived in 1066 to make the Dover castle we see today, this high land above the English Channel was the location of an Iron Age hill fort, which set the mold for the fortifications still visible today (Microart ). The Dover Castle at Kent has undergone many additions and reconstructions over its years, such as the great grandson of William the Conqueror, Henry II’s expansion in 1170 (Castles of Wales Web Site, www.castlewales.com). It is the best castle ever built, and its use extended into the 1940’s when it played still big roll in WWII. Dover has evolved much over it years, and its strategically positioned to be right in all of the action.   Ã‚  Ã‚  Ã‚  Ã‚  Most all buildings are created to serve a single purpose, a bank, a hotel, a factory, a school, ect. A castle however does not meet this mold, it can be many things a military base, a seat of government, a court and a stronghold for the surrounding region, in certain cases it filled all of these roles at once. However, a castle was generally the private residence of its owner. Castle were a product of the period, they were built in a time period that was not safe, but a castle offered some safety. It is important to note that very few of the many castles ever built assume the forms of castles that we see today. It should also be made to realize that generally castle life was quiet and peaceful. Most castles were owned by the nobility and the lives lived in them were not as portrayed in movies. As the close of the medieval period comes to pass, and stability seems to become a more constant factor, many castles lay more stress on the comforts of life, rather than th e defense of it.   Ã‚  Ã‚  Ã‚  Ã‚  Today’s castles first came to England in 1066 with William the Conqueror. Castles were the means by which he was able to conqueror England so successfully. By putting up these castles he was able to suppress any type of uprising that might occur. These first Norman castles were hurriedly put up to secure their foot hold in England, so as you can imagine they are not quite as glamorous as the giant heaping stone structures we see today.

Are You Unique? (for Cloning) :: essays research papers fc

You have been told that you are unique. The belief that there is no one else like you in the whole world has made you feel special and proud. In the near future, this belief may not be true. The world was stunned by the news in the summer of 1995, when a British embryologist named Ian Wilmut, and his research team, successfully cloned Dolly the sheep using the technique of nuclear transfer. Replacing the DNA of one sheep’s egg with the DNA of another sheep’s udder created Dolly. Plants and lower forms of animal life have been successfully cloned for many years, but before Wilmut's announcement, it had been thought by many to be unlikely that such a procedure could be performed on larger mammals and life forms. The world media was immediately filled with heated discussions about the ethical implications of cloning. Some of the most powerful people in the world have felt compelled to act against this threat. President Clinton swiftly imposed a ban on federal funding for human-cloning research. Bills were put in the works in both houses of Congress to outlaw human cloning because it was deemed as a fundamentally evil thing that must be stopped. But what, exactly, is bad about it? From an ethical point of view, it is difficult to see exactly what is wrong with cloning human beings. The people who are afraid of cloning tend to assume that someone would, for example, break into Napoleon's Tomb, steal some DNA and make a bunch of emperors. In reality, infertile people who use donated sperm, eggs, or embryos would probably use cloning. Do the potential harms outweigh the benefits of cloning? From what we know now, they don't. Therefore, we should not rush placing a ban on a potentially useful method of helping infertile, genetically at-risk, homosexual, or single people to become parents. Do human beings have a right to reproduce? No one has the moral right to tell another person that they should not be able to have children, and I don't see why Bill Clinton has that right either. If humans have a right to reproduce, what right does society have to limit the means? Essentially all reproduction done these days is with medical help at delivery, and even before. Truly natural human reproduction would make pregnancy-related death the number one killer of adult women. Some forms of medical help are more invasive than others.

Business Strategy And Economics

Abstract This paper is focused on the importance of disruptive innovation as described in the teaching of Professor Clayton Christensen.The first part of the paper introduces a business report of Christensen’s theory on disruptive innovation. The focus is on major assumptions of this theory, as they are applied to the performance of one of the leading European airline companies, Ryanair. Moreover, the second part of the paper outlines a plan that clarifies how the professor’s teaching enhances the potential of individuals to move forward to a sustainable and successful future based on the model of disruptive innovation. Introduction The theory on disruptive innovation has gained adequate importance in the global business environment. Introduced by Professor Clayton Christensen, this theory emphasises that companies should refocus their capacities and resources on technology in order to achieve a sustainable competitive advantage and growth in particular market segments (Christensen et al., 2008). Disruptive innovation is a powerful tool to drive the expansion of companies that are concerned with the attainment of long-term success (Christensen, 1997). The objective of this paper is to provide a business report on the theory of disruptive innovation as applied in the case of Ryanair, as well as to outline a plan of how the professor’s teaching can lead to developing of a sustainable and successful future, as human beings. Business Report In The Innovator’s Dilemma, Clayton Christensen (1997) introduced his distinct concept on disruptive innovation. Disruptive innovations are usually initiated as versions of products and services that already exist in the market, but they are identified as less desirable due to the aspect of lower quality. However, such products and services tend to improve with time and thus gain recognition among major customer population (Christensen et al., 2008). The conceptual framework of disruptive innovation is based on opportunity recognition, which is associated with the generation of useful ideas through implementing a past, present and future approach. The importance of considering past events have been acknowledged as a way to understand the specificity of how certain innovations have occurred (Cortez, 2014). Awareness of current trends in a particular business sector should be maintained in order to demonstrate disruptive innovation. Moreover, presenting possible scenarios is ano ther essential step of this approach that could help companies gain a strong competitive advantage (Christensen, 1997). Disruptive innovations can be perceived as ‘factor changers’ in the sense that they shape the markets into which specific products and services are introduced (Govindarajan et al., 2011). Therefore, disruptive innovations can refer to any product or service that has successfully altered dimensions of behaviour or technology in a particular market. It can be indicated that disruptive innovation usually characterises as low-end innovation and new market innovation (Christensen et al., 2008). Low-end innovation takes place when leaders tend to implement a strategy of over-supplying the needs of their customers with substantial technological capability or services that they may not actually need. As a result, a vacuum is created within such low-end market, which in turn reflects in a situation where customers with low demands are more likely to achieve their goals at lower cost (Jang, 2013). This aspect illustrates the validity of the theory on disruptive innovation consider ing the numerous examples of successful companies that have relied on this strategy, including Apple, Ryanair, and Rolls Royce. The second type of disruptive innovation, new market innovation, is focused on the formation of a new niche of customers by the introduction of new products or services. Individuals can be facilitated to complete certain procedures or processes that have been previously identified as challenging or quite demanding in terms of requiring a wide range of skills and knowledge (Christensen, 1997). However, established organisations usually demonstrate a trend to ignore the growth of new markets because of the prevailing conception that such markets are low margin. Similarly to low-end disruptive innovation, new market innovation indicates the importance of enhancing product offerings and expanding product niches (Habtay, 2012). Emphasis is put on attracting customers away from recognised or established products and services. Substantial disruption takes place as a direct result of this process, as the newly introduced products and services have the power to change the existing market on a permanent basis (Maldonado, 2014). The theory of disruptive innovation is valid because of the focus it maintains on the capacity of companies to refocus on technology advancements to optimise their performance. An example of the theory on disruptive innovation in practice can be found in the business operations of Ryanair. In the 1990s, leading airline European companies in the industry decided that the opportunities arising from the implementation of a low-cost strategy do not present a substantial threat to their market (Paton, 2013). Yet, newcomers in the European airline industry, such as EasyJet, applied the example of Ryanair’s point-to-point strategy. A direct outcome of this initiative was the creation of a low-cost niche market, which led to significant shifts in market behaviour as well as technology utilisation (Maldonado, 2014). It can be suggested that such niche of customers have realised the importance of Ryanair’s strategy even though they have not been identified as regular flyers. In addition, the low-cost and no frills strategy soon started to attract a considerable number of business travellers, who demonstrated a rapid switch from high-cost airline compani es to low-cost airlines (Christensen et al., 2008). This has been done with the assumption that low-cost airlines have significantly improved their service as a result of the implementation of disruptive innovation principles (Habtay, 2012). Such aspect demonstrates the validity of the theory considering its successful application to expanding companies’ growth in new markets. Ryanair has succeeded in the creation of a new market of budget travellers, which represents an example of the theory on disruptive innovation. The basic of such success was to offer routes to customers that no other airline did at rather competitive, affordable prices. The main aspect of disruptive innovation is to refocus technology use (Paton, 2013). This has helped the airline to maintain a close contact with its customers through optimisation of the internet use, commitment to quality, and safety maintenance and adequately focused criteria for growth. Ryanair has achieved its objective to reduce its operation cost through maximising its use of technical advances, as it introduced the options of booking of tickets and issuing of boarding cards online (Schmidt and Druehl, 2008). This airline company has provided a relevant example of how its operational teams and processes are brought together to deliver innovation in specific target niches. It has been assumed that the innovation introduced by Ryanair is desired by the target niche market (Habtay, 2012). Therefore, it can be argued that innovation levels should be maintained in balance in order to achieve the company’s initially presented goals for growth and expansion. As illustrated in Professor Clayton’s theory on disruptive innovation, an emergent strategy that organisations should adopt should be based on essential principles. Initially, companies that consider the option of disruptive innovation should incorporate elements of learning into their strategy plan (Paton, 2013). Furthermore, organisations should be focused on finding relevant information that can guarantee that they move in the right direction, similarly to what Ryanair did in the European airline industry through its adherence to the disruptive innovation model (Schmidt and Druehl, 2008). As a result, this type of innovation can produce long-term catalytic change, as illustrated in the example of Ryanair. The way in which a new technology addresses the demands presented in an existing customer segment is an important condition for success. Existing customers have been found powerful to affect an organisation’s resource allocation process (Christensen et al., 2008). The basic idea behind the application of disruptive innovation in practice is to introduce new functions or attributes, as Ryanair introduced a low-cost strategy and flexible fares to its customers (Petrick and Martinelli, 2012). A significant assumption can be provided in relation to new market disruptive innovation in the sense that it is more likely to prosper among customers that companies have not been addressed previously. As implied in The Innovator’s Dilemma, Professor Clayton’s theory of disruptive innovation illustrates both the strengths and weaknesses of using financial ratios to measure business performance in both the short-term and long-term (Christensen, 1997). The strengths associated with using these ratios refer to the capacity of companies to use specific financial information to advance their business operations. Weaknesses of these ratios include improperly maintained focus or irrelevant or inaccurate financial details. The most important ratios with regards to Professor Clayton’s theory are the following profitability ratios: Return on Capital Employed (ROCE); Current Ratio and Acid Test Ratio (Christensen et al., 2008). The ratio of RONA presents a comparison of net income with the specific net assets. The ratio of ROCE provides significant information about the returns that an organisation achieves from the capital it employed. In the case of Ryanair, the company’s ROCE ratio indicated a significant increase from 6.86% in 2011 to more than 10% in 2013 before tax (Paton, 2013). The formula for calculating the current ratio is to divide current assets and current liabilities. Therefore, Ryanair’s current ratio in 2013 is 1.97:1. Acid test ratio is obtained through subtracting current assets and inventory and the result is divided with current liabilities (Habtay, 2012). The acid test ratio in 2013 is 1.97:1. These ratios indicate that the company performs well in its niche target market as a result of the introduction of disruptive innovation. Plan Professor Clayton’s teaching provides fundamental business ideas that can help individuals move forward to a sustainable and successful future, as human beings. His concepts reinforce the potential of professionals in the business world to bring about a substantial change that can alter positively their lives (Christensen et al., 2008). When human beings are confronted with new technological innovations, they tend to explore the numerous opportunities associated with such technology advancements that can help them become more successful in their operations. Sustainability emerges as an essential dimension in Clayton’s teaching on disruptive innovation (Petrick and Martinelli, 2012). By finding new markets for new technologies, individuals can help companies move in the right direction through adhering to the model of disruptive innovation (Christensen et al., 2008). Technology is the key to a sustainable and successful future for human beings considering the emphasis on improvement in product performance. There has been always a drive to seek improvement of products and services in any market segment. Clayton’s teaching motivates individuals to restructure their thinking and present distinct inferences regarding the application of disruptive innovation models in practice (Chandra and Yang, 2011). In fact, the model suggested by the professor indicates a proven path to achieving a sustainable and successful future based on the concept of disruptive innovation. The ability of human beings to innovate is leading in the contemporary business world, which is oriented towards long-term success. Clayton’s ideas are focused on presenting a realistic framework according to which sustainable is achievable as well as new innovations address current needs and expectations identified in different markets (Christensen et al., 2008). As Clayton a rgued, market leaders are responsible for embracing such innovations and exploit the numerous advantages of technologies. As a result, this would contribute to the emergence of a high level of sustainability in the dynamic business environment (Maldonado, 2014). The model introduced by Professor Clayton provides managers with an opportunity to offer relevant insights into the most appropriate way of utilising disruptive technologies. The professor presents his arguments in a clear, consistent manner, which helps individuals understand the specificity and applicability of his theory (Christensen, 1997). The emergence of particular value networks is in line with the basic idea to refocus on technology through the distinct model of disruptive innovation (Petrick and Martinelli, 2012). Moreover, Professor Clayton emphasises the necessity to discuss different managerial decisions, which contribute to enhanced sustainability in the business world. Moving to a sustainable and successful future may be challenging for human beings, but they can make a sense of all activities pertaining to disruptive innovation and apply them in practice. This can help individuals realise the potential and practicalities of the ideas shared by Professor Clayton (Habtay, 2012). Emphasis on the learning cycle shows that both individuals and companies can embrace the concept of change, which may contribute to expanding sustainability not only in the organisational context but also in society (Christensen et al., 2008). The professor’s teaching is intended to clarify any misunderstanding related to business performance in the contemporary world. His ideas suggest that sustainability and business success are attainable through the simple realisation of companies’ potential (Christensen, 1997). In addition, the development of new capabilities as related to specific organisational boundaries may be a relevant solution to overcome problems i n a company’s performance. Conclusion This paper discussed Professor Clayton Christensen’s theory on disruptive innovation, which has been recognised as a significant tool in driving the growth of many organisations (Christensen et al., 2008). The paper also provided arguments pertaining to the successful implementation of the theory in practice. Ryanair was referred to as an example of company, which adheres to the model of disruptive innovation (Paton, 2013). It has been concluded that Ryanair’s low-cost strategy has brought substantial success to the company. Moreover, the paper discussed details on how the professor’s teaching is inspiring for human beings in the process of moving forward to a sustainable and successful future. References Chandra, Y. and Yang, S. (2011). ‘Managing Disruptive Innovation’. Journal of General Management, vol. 37(2), pp.23-50. Christensen, C., Johnson, C. W. and Horn, M. B. (2008). Disrupting Class: How Disruptive Innovation Will Change the Way the World Learns. New York: McGraw-Hill. Christensen, C. (1997). The Innovator’s Dilemma: When New Technologies Cause Great Firms to Fail. Boston: Harvard Business Review Press. Cortez, N. (2014). ‘Regulating Disruptive Innovation’. Berkeley Technology Law Journal, vol. 29(1), pp.175-228. Govindarajan, V., Kopalle, P. K. and Danneels, E. (2011). ‘The Effects of Mainstream and Emerging Customer Orientations on Radical and Disruptive Innovations’. Journal of Product Innovation Management, (1), pp.121-132. Habtay, S. R. (2012). ‘A Firm-Level Analysis on the Relative Difference between Technology-Driven and Market-Driven Disruptive Business Model Innovations’. Creativity & Innovation Management, vol. 21(3), pp.290-303. Jang, S. W. (2013). ‘Seven Disruptive Innovations for Future Industries’. SERI Quarterly, vol. 6(3), pp.94-98. Maldonado, E. R. (2014). ‘How to Identify Disruptive New Businesses’. Global Conference on Business & Finance Proceedings, vol. 9(1), pp.510-520. Paton, M. (2013). Ryanair Profits Soar 21% [online]. The Motley Fool. Available at: http://www.fool.com/investing/general/2013/01/28/ryanair-profits-soars.aspx [Accessed: 14 August 2014]. Petrick, I. J. and Martinelli, R. (2012). ‘Driving Disruptive Innovation’. Research Technology Management, vol. 55(6), pp.49-57. Schmidt, G. M. and Druehl, C. T. (2008). ‘When Is a Disruptive Innovation Disruptive?’ Journal of Product Innovation Management, vol. 25(4), pp.347-369.

The Santa Rosa Philharmonic Youth Symphony

The Santa Rosa Philharmonic Youth Symphony Elizabeth Tirado HSM/270 5/14/2011 Arin Norris The Santa Rosa Philharmonic Youth Symphony Overview of the Program The Santa Rosa Symphony was founded in 1927 with 35 musicians playing at the local Elks Club. In October of 1994, the Santa Rosa Philharmonic Youth Symphony (SRPYS) was formed. The Santa Rosa Philharmonic Youth Symphony has been providing musical training and performance opportunities for young musicians, ranging from ages as young as nine to 23. For over 50 years. The education programs of the Santa Rosa Philharmonic Symphony are made possible by the many committed people to ensuring music is available to the young people of Sonoma County. The mission of the Santa Rosa Philharmonic Youth Symphony is to inspire the residents with finest musical performances and educational program while maintaining organizational strength, fiscal responsibility and community service. The Santa Rosa Philharmonic Youth Symphony Outreach Program includes; free concerts for the youth of the community, bringing music to elementary schools that do not have a music program, and performing for the elderly who might not have the ability to leave their homes to attend concerts. Music can have a huge impact on a child’s future and can help to improve their self-esteem and leadership skills. The Santa Rosa Philharmonic Youth Symphony educates and helps young musicians improve on their skills which enable them to achieve their highest potential and appreciation for classical music. The auditions for the Santa Rosa Philharmonic Youth Symphony are held every year in June. Many young musicians participate, but few are accepted into the Santa Rosa Philharmonic Youth Symphony. Those students that are accepted face a challenging and difficult repertoire. Excellence in leadership is rewarded with scholarships. The young musician that is accepted will obtain lessons on professionalism, education, and integrity The Santa Rosa Philharmonic Youth Symphony that will continue even after the student’s completion of the music program. The Santa Rosa Philharmonic Youth Symphony along with local and regional music and arts organizations show in a planned effort the importance of music and arts in all levels of education and government. Finding Your Target Population The target population of the Santa Rosa Philharmonic Youth Symphony is the young musician who live in the Santa Rosa county; especially those who have musical experience. The Santa Rosa Philharmonic Youth Symphony is a non-profit, performing arts, community based organization. The Santa Rosa Philharmonic Youth Symphony relies on donor support to fund and maintain its musical, educational, and community programs. The National Endowment for the Arts, the California Arts Council, the Sonoma County Advertising Fund, and the City of Santa Rosa are among the donors of the Santa Rosa Philharmonic Youth Symphony. Local businesses can show their support by contributing flyers and posting concert performances. Needs and Assessments The central focus of the Santa Rosa Philharmonic Youth Symphony is to inspire young musicians to appreciate the musical arts, develop self-esteem and leadership qualities, enrich the quality of life for the Santa Rosa community, and form bonds with fellow students and staff members that may last a lifetime. The youth of the community has the opportunity to be supported by not only the faculty, but the facility, which allows the youth to achieve their dreams. Both qualitative and quantitative methods show where the program needs improving, what the program is doing to make the improvements, and input on what the stakeholders expectation are for the program. The Santa Rosa Philharmonic Youth Symphony Whether the organization is for profit or non-profit, large or small funding is always a problem. To overcome the dilemma of funding, the Santa Rosa Philharmonic Youth Symphony relies on donor support to continue the mission statement. The grant the Santa Rosa Philharmonic Youth Symphony receives from organizations provides the community and schools with free concerts. Local and regional business donors can enrich their business by investing in the cultural environment of the community. The support from staff, families of students and volunteers who help to make the program successful are ever present to assist in any fashion that will benefit the Santa Rosa Philharmonic Youth Symphony. There will always be needs that have to be met, the problem is the cost. Due to budget cuts nationwide, the students in the Santa Rosa and Sonoma County area who attend elementary and middle school have lost their music department, which leaves the student without the opportunity to appreciate, learn, and gather knowledge of music. Students must wait until they reach high school or college to participate in any music program; unless the student has been tutored privately, which is costly, the student will most likely lose interest in music. If the school has not any music program or offer after school activities for the student, that student will find other ways to occupy their time. Many students will succumb to negative influences such as gangs and drugs if there is a lack of positive activities for the student to participate in. The concern of community leaders and members was the lack of music programs would set students behind other students who attend schools that have an active music program. Since The Santa Rosa Philharmonic Youth Symphony any families cannot afford private music lessons for their children, a project was developed which educates students and supports music education, appreciation, and motivate students to fulfill their potential. Not all young musicians that audition are accepted. For those musicians that are not chosen for enrollment are still able to participate in other aspects of the program. Their involvement will keep the musician interested and open up new opportunities to learn different types of music while still practicing their own music skills. Planning and Developing If you were to ask any staff member of an organization how they feel about program planning, there would be many unhappy faces. Program planning is by far the hardest task of developing an effective program that will please the stakeholders. This process is known as being time-consuming, labor intensive and undesirable assignment with many hours of staff time involved. Some organization hire outside evaluators, while some organizations have in house evaluators. Program planning answers the questions of who’s, what’s, when’s why, where’s, and how’s of a program. The writing of a program plan must be clear and concise, define the mission, goals, and objectives of the program that will satisfy the stakeholders. Once the program plan is submitted, a funding source must be found, the needs and problems organized, and an evaluation plan is implemented to ensure that the program is doing what they set out to do and continue to meet the needs of the target population. Once the budget is established, most programs will address the issue of staff recruitment and the hiring and training of new staff members. It is in the best interest of the program to hire individuals that have experience and knowledge of what the program wants to accomplish. The Santa Rosa Philharmonic Youth Symphony When staff member have the knowledge of the program’s mission and are enthusiastic, the program will prosper. The target population is identified through surveys and input from the community and school officials. Student participation can be useful in evaluating the program, since the program already has community support. As with some businesses, they are only as good as their reputation. Word-of-mouth can be a valuable tool. Recruiting students who have not been exposed to classical music can be easily done through the program outreach efforts. These outreach efforts include complimentary tickets given to school music teachers and their students, bringing free concerts to the elderly and homebound members of the community, and performing concerts for the disadvantage youth of the community. The program is also partners with elementary schools in bringing music to the music experience to schools that have lost their music program. Staff members and students are also evaluated by progress reports and attendance records filled out by their instructors. The evaluation report of the program is available on a bi-annual basis and is reviewed by staff members, community leaders, and members of the Board of Directors. This evaluation is done to reassure that the program is continuing to meet their mission, goals, and objectives. Alternative Funding For any organization, funding will always be a problem. As mention previously, the Santa Rosa Philharmonic Youth Symphony concerts are made possible by grants, private and individual donors. Members of the community, families of students, local and regional The Santa Rosa Philharmonic Youth Symphony businesses and the general public are some of the donors that make the Santa Rosa Philharmonic Youth Symphony successful. Funding has become difficult, due to the budget cuts, the closing of many contributing business, and the closing of music program in the elementary and high schools in the area. The Santa Rosa Philharmonic Youth Symphony can apply for government and corporate grants, but it is important to consider alternate funding. Annual tuition only pays for a portion of what it takes to operate the youth symphonies. The annual event fund raiser, sales of candy at the concerts, and holding benefit concerts for the community might carry the symphony into the future, but applying for grants for non-traditional sources may be the most productive way to fund the Santa Rosa Philharmonic Youth Symphony. One obstacle that the youth symphony faces is students that cannot afford their own instruments. Approaching other musical organizations and manufactures of musical instruments for support in supplying needy students with instruments is an investment that can benefit both the program and the donors. Process and Developing The Santa Rosa Philharmonic Youth Symphony has been involved with classical music since 1994. Today, the students that attend the Santa Rosa Philharmonic Youth Symphony face the same challenges as their predecessors. Facing these challenges allows the student to grow and learn to conquer whatever obstacles they may face in their present and in their future. Some of the staff members have taking additional training to assist the students that are new to the Santa Rosa Philharmonic Youth Symphony program. On some occasions the program may require a bigger facility for their larger orchestras. Communication is important when developing a The Santa Rosa Philharmonic Youth Symphony program that will meet the needs of the students and the community. The biggest obstacles that the Santa Rosa Philharmonic Youth Symphony faces today is finding a committed funding source that will allow the Santa Rosa Philharmonic Youth Symphony to continue to provide for their existing and future programs. As with any organization, without proper funding the program will collapse under the financial strain. Summary The Santa Rosa Philharmonic Youth Symphony is dedicated to providing young musicians with orchestral training and performance opportunities of the highest caliber. The goal of the Santa Rosa Philharmonic Youth Symphony is for young musicians to develop an awareness and appreciation of classical music, while providing the community with enriching educational and cultural experiences. Most music programs, especially in poorer sections, have been cut because of lack of funding. The Santa Rosa Philharmonic Youth Symphony brings music to those who do not have access to music programs by giving free concerts and giving complimentary tickets to schools that have lost their music department. Music is an important aspect in a person’s life. Most people can tell you where they were when they hear a specific song. Music can transform a person’s mood. The Santa Rosa Philharmonic Youth Symphony program would benefit greatly if they utilize and keep an open mind to new ideas and teaching techniques. The Santa Rosa Philharmonic Youth Symphony References â€Å"Neilson Scholar for 1974†, Journal of School Health, 01/1975. www. santarosasymphony. com

Book Theif by Markus Zusak Essay

Most good novels allow the reader to walk a mile in someone else’s shoes. Through language, characterisation and relationships the author is able to illustrate significant social issues. The Book Thief by Markus Zusak is a tremendously powerful book which captures key significant social issues of the power of words in Nazi Germany; Hitler’s manipulation of words and how people can find comfort in literature, as well as a means of escape. In the ‘Book Thief’, Zusak constantly emphasises the remarkable power and impact words have in relation to the corrupt world of World War Two. Through the use of descriptive language he is able to broaden the readers understanding of Hitler’s abuse of power by manipulating words and propaganda on the German people. Emotions of empathy are evoked when Liesel realizes that Hitler is the reason for her misery; adding to the loss of her childhood innocence. She comes to realize that Hitler is responsible for the war, her brother’s death, mothers suffering and why Max is sent to a concentration camp. â€Å"The words were thrown at the steps and Liesel could feel the slush of anger, stirring hotly in her stomach. ‘ I hate the fuhrer,’ she said. I hate him. † Zusak uses a metaphor, linked with imagery, dialogue and short sentences while at the same time reflecting emotive language to make me realise the importance of the power of words. Words are a powerful persuasive weapon of Hitler’s, and both Liesel, and I come to realise that, ‘without words the Fuhrer was nothing. ’ In this way Zusak has used Hitler’s manipulation of words to not only highlight the power of words in the ‘Book Thief’, but in our real world. Throughout Liesel’s journey Zusak clearly illustrates her growing understanding of Hitler’s manipulation of the power of words. And that he also proves that the power of words can be appreciated, while acting as a means of escape from the living reality, of war. Literature becomes Liesel’s sanity and without it she’d be far lost in the Nazi Germany Regime. So out of pure vengeance and anger, she rebels against Hitler by stealing books, while furthermore satisfying her hunger for reading. â€Å"She could smell the pages. She could almost taste the words as they stacked up around her. † This thus points out Liesel’s relationship and deep connection she shares with literature, by using a metaphor. Everyone needs to escape reality for a little while, to find beauty in the darkest hours, to keep their sanity, to survive. For Hans it is his accordion, Death’s is the colours, and for Max it is telling his story via art and literature. Yet of course Liesel too needs an escape, and she is able to find this from words and literature. By finding an escape route, Liesel’s knowledge of the power of words endures to build, and expand as she is able to appreciate literature. Liesel’s journey of escaping the horror delivers not only beauty and a hope to survive but allows her to find comfort through literature. I find this rather ironic, that she is able to bring comfort to her-self and others from literature, when before words only served her misery. â€Å"She couldn’t tell exactly where the words came from. What mattered was that they reached her. They arrived and kneeled next to the bed. † Zusak brings to attention; the idea of that literature is capable of accomplishing and bringing comfort to Liesel by using personification and imagery. But then again, within reading Liesel is not just able to comfort herself but can soothe others by understanding the true capacity words have, in relation that they can cause both pain and happiness. †¦But at least they were distracted now, by the girl with the book. † Through language and the overall use of irony, Zusak reinforces Liesel’s strong connection with literature, while engaging myself, the reader into the deeper meanings of the written text; that in means can provide comfort and an escape. By the author allowing the reader to, ‘walk a mile in someone else’s shoes’ social issues are evidently propounded. Markus Zusak has successfully demonstrated the significant social issues of, Hitler’s manipulation and abuse of power through words, and the appreciation of literature by providing escape and comfort in the Book Thief.

Attitudes Toward Seeking Mental Health Essay

Abstract According to the World Health Organisation an estimated 200 million people globally are affected by serious mental health problems, however, research evidence indicates that only around one-third of those experiencing mental health difficulties actually seek treatment. A number of psycho-social and demographic factors have been found to explain variation in attitudes towards, and intentions to, seek psychological help. This study sought to examine the association between attitudes towards seeking mental health services and intentions to engage in psychological counselling. The sample for the current study consisted of 331 active and retired members of the national police force of the Republic of Ireland. It was predicted that psychological openness, help-seeking propensity, and indifference to stigma would all positively predict intentions to participate in psychological counselling, after controlling for age, gender and personality factors. The results showed that Finish Abstract Introduction According to the World Health Organisation an estimated 200 million people globally are affected by serious mental health problems (Mollica, 2000). Available data, however, suggests that only around one-third of those experiencing mental health difficulties actually make treatment contact (Kessler et al., 2009). This is of concern not only because of the deleterious impact on individual’s lives, but also because of the associated economic and societal costs of untreated mental health problems (Kessler et al., 2009). A number of psycho-social and demographic factors have been found to explain variation in attitudes towards, and intentions to, seek psychological help (e.g., Bartels, 2003; Segal, Coolidge, Mincic, & O’Riley, 2005; Vogel, Wester, Wei, & Boysen, 2005). How favourable and effective one believes psychological counselling to be, one’s own belief in their capacity to engage in counselling, and perceptions of subsequent social rejection  following counse lling attendance, have been identified as particularly influential (e.g., Hyland, McLaughlin, Boduszek, & Prentice, 2012; Vogel & Wester, 2003). Research also suggests that females may be significantly more likely than males to hold favourable attitudes towards utilising mental health services (e.g., Chandra & Minkovitz 2006; Raunic & Xenos, 2008), although some studies have shown that males and females do not differ in their attitudes or intentions towards the utilisation of mental health services (e.g., Kelly & Achter, 1995; Vogel & Wester, 2003). Additionally, personality factors have been suggested to impact upon individuals’ help-seeking attitudes and intentions. Jagdeo, Cox, Stein, and Sareen (2009) found that antisocial personality disorder was associated with greater negative attitudes towards help-seeking using data from the US National Comorbidity Survey (NCS) (n = 5877) and the Ontario Health Survey (OHS) (n = 6902). Given the disparity between mental health service needs and service utilization a more comprehensive understanding of the factors involved in counselling-seeking behaviour is required. The Inventory of Attitudes toward Seeking Mental Health Services (IASMHS; Mackenzie, Knox, Gekoski, & Macaulay, 2004) is a 24-item scale designed to assess the attitudinal factors that influence the seeking of mental health services. This scale was developed based upon Fisher and Turner’s (1970) Attitudes toward Seeking Professional Psychological Help Scale. The scale was developed with a clear theoretical foundation, and its increasing use in research (James & Buttle, 2008; Loya, Reddy, & Hinshaw, 2010; Mackenzie, Gekoski, & Knox, 2006; Mojaverian, Hashimoto, & Kim, 2012; Floersch et al., 2009). The IASMHS initially included 41-items, however the results an exploratory factor analysis (EFA) using maximum likelihood estimation among a sample of 208 adult volunteers (Mackenzie et al., 2004) reduced the number of items in the scale to 24. Results indicated that the 24-item scale could be explained in terms of three correlated factors, which accounted for 43% of variance: (a) Psychological Openness (the degree to which an individual is open to acknowledging the presence of a psychological problem and to seek professional care for such a problem), (b) Help-Seeking Propensity (one’s willingness and perceived ability to seek help for psychological problems), and (c) Indifference to Stigma (how concerned an individual would feel were significant others to discover that they were receiving psychological care).  Internal consistency coefficients for the IASMHS subscales were reported to be good with Cronbach’s alphas of .82 (psychological openness), .76 (help-seeking propensity), and .79 (indifference to stigma). Factor correlations were moderate with r values ranging from .37 to .47. In the same paper, using an independent sample of 293 undergraduate university students and employing confirmatory factor analysis (CFA) techniques, Mackenzie and colleagues (2004) reported that they replicated the three-factor solution indicated by the EFA. Model fit was acceptable and factor correlations ranged from r = .26 to .43. The current study aims to assess the degree to which intentions to participate in psychological counselling can be predicted by attitudes towards seeking mental health services. Specifically, it was predicted that psychological openness, help-seeking propensity, and indifference to stigma would all positively predict intentions to participate in psychological counselling, after controlling for age, gender and personality factors. Method Participants The sample for the current study consisted of 331 (Males: n = 202; Females: n = 129) active and retired members of the national police force of the Republic of Ireland. Of the officers recruited, 302 (91%) were currently serving members of the Irish police force, while 29 (9%) were retired. Participants ranged in age from 20 to 77 years, with an average age of 28.41 years (SD = 8.63). Just under half the sample of officers were stationed in rural areas (45%, n = 149), 41% were stationed in suburban areas (n = 136), and 14% were stationed in urban areas (n = 46). The majority of officers who participated in this study were recent entrants into the police service with 63% of respondents indicating that they had been serving for two years or less (n = 209). Approximately half were married (48%, n = 159), while the remaining participants either resided with parents (27%, n = 89), lived with other family members (3%, n = 10), or lived alone (22%, n = 73). Procedure The majority of study participants were recruited during a training seminar (n = 259), while the remaining officers were recruited via formal written requests (n = 72). Appropriate authorization was granted from the relevant  officials to carry out the study. In total, 532 members were approached to complete the research questionnaire, and 365 volunteered their participation (68%). However due to overwhelming missing data in 34 returned surveys only 331 responses were retained for the final analysis (62%). Participants were required to complete an anonymous self-report, paper-and-pencil questionnaire booklet which included an instruction sheet and a consent form attached to the front of the booklet. Participants were assured about confidentiality and informed that their participation was voluntary. Completed questionnaires were returned by the participants to their superior officer in sealed envelopes, and were subsequently returned to the principal investigator. Measures The Inventory of Attitudes toward Seeking Mental Health Services (IASMHS: Mackenzie et al., 2004) is a 24-item scale designed to measure an individual’s attitudes towards seeking mental health services. The IASMHS was developed in order to measure three factors labeled (a) Psychological openness, (b) Help-seeking propensity, and (c) Indifference to stigma. Psychological openness reflects the degree to which an individual is open to acknowledging the presence of a psychological problem and to seek professional care for such a problem. Help-seeking propensity reflects one’s willingness and perceived ability to seek help for psychological problems. Indifference to stigma refers to how concerned an individual would feel if significant others were to discover that they were receiving psychological care. Each factor is proposed to be measured via 8 items and each item is measured using a five point Likert-scale ranging from 0 (â€Å"disagree†) to 4 (â€Å"agree† ). Intentions to Participate in Psychological Counselling: Intentions were measured as part of a larger questionnaire designed to measure the various constructs of the Theory of Planned Behavior (Ajzen, 1991). This questionnaire was constructed according to the guidelines set forth by Ajzen (1991, 2002). The questionnaire was based upon a fictitious scenario which included the four elements of time, context, action, and target, as proposed by Ajzen and Fishbein (1977). The scenario describes an event that took place six weeks previously in which an individual witnesses a severe road  traffic accident. In the intervening six weeks this individual begins to experience significant personality changes. The individual is reported to now experience prolonged periods of extreme sadness, lack of energy, distressing thoughts related to the traumatic event, reduced interest in normally pleasurable activities, severe panic attacks while outside, and refusal to leave the house even for work. A friend of this individual attends a G.P. about the matter and the G.P. recommends that the described person should attend a professional psychologist for counselling within the next week. An appointment is thus made for next week. Participants in this study are asked to place themselves in the position of this fictitious person and to complete the questions that follow (see Appendix A for the full vignette). Behavioural intentions were measured via three items (Cronbach’s alpha = .77). 1. How likely is it that you would intend to go along to see a professional psychologist for counseling within the next week if you were in Terry’s position? 2. You will try to participate in counseling with a professional psychologist within the next week. 3. You have decided to participate in counseling with a professional psychologist within the next week. Each item was measured along a seven point Likert scale ranging from 1 (extremely unlikely) to 7 (extremely likely) and the scores on the three questions were summed. Higher scores on this scale indicate stronger intentions to engage in counselling.