Options for Company in Financial Difficulty

Options for Company in Financial Difficulty Introduction There are a few options for S.B. Ltd to consider getting through difficult times. The five main options are firstly, to discontinue the Nottingham division and Leicester and Loughborough divisions could use their spare capacity to produce 60% of Nottingham’s 2010 output in addition to their own 2010 output, close the Nottingham division and outsource Nottingham’s 2010 output, to launch a major campaign for all 3 products to increase their sales, to introduce a transfer pricing system between the division and the head office to increase motivation among the staff in each division and rightsizing the organisation. Discontinuation As seen Nottingham is not making growth, in response to market forces, the first option is to discontinue Nottingham division by selling its assets and settling its liabilities and shifting production from Nottingham to Leicester and Loughborough. The discontinuation decision is a decision when the division profitability highlights the potential of unprofitable (Drury, 2010, pp.91-92). In this option, assuming that Leicester and Loughborough have some spare capacity to produce 60% of Nottingham’s 2010 output on top of their own 2010 output. According to Drury (2010, p.92), discontinuing the Nottingham division could aid the company in eliminating cost of goods sold, and other variable costs in the division. Other cost such as advertising costs, distribution costs and Head Office costs remain unchanged and is not affected by the discontinuation of the Nottingham division. O’Hare (2010, Management Accounting Lecture 3) suggested other factors which will affect an organisation to discontinue a division, the division is making a loss, to identify avoidable costs or to discover other saving. Outsourcing Outsourcing option is also known as sub-contracting option has become increasingly common in organisations, which enables organisations to concentrate on their core performance while outsource other specialist their secondary activities (Collier et al, 2007, pp.220-221). In S.B. Ltd case, according to Oxford University Press (2009), outsourcing could help to get through this hard time by going on a process of business process downsizing. Outsourcing allows operations that have seasonal demands to bring in additional resources in time of needs. Other advantages of outsourcing are, outsource activities will allow S.B. Ltd to focus on important functions without sacrificing quality or service, outsource specialist could help improve the quality and standard of the jam. It may also be able to purchase the jam more cheaply or perhaps more quickly. Assuming the outsource price for raspberry jam is 20% more then the cost of goods produced and sold for raspberry jam. Hence, the sales of raspberry jam remains the same and Leicester division and Loughborough division have spare capacity which gives them room for expansion of 30% more sales each. All other expenses remain the same for both Leicester and Loughborough divisions. This gives the Head Office a net profit of  £76,000 On contrary to the advantages, outsourcing the jam to some specialist could lead to risk of unsatisfactory quality and standard of the jam. Other disadvantages could be leak of procedures and techniques of making the jam, outsourcing usually focuses on short-term cost-saving, and ignores the unchanged overhead burden. Major Campaign Another option is to launch a major advertising campaign for all three products to increase their sales and keep all three divisions. Advertising could boost awareness and generate demand of the sales of jams of S.B. Ltd. and hence acquiring more orders. In the advertising campaign, assuming the advertising cost increase by 20% and it bring the sales of each product to an increase of 20% each. It simply boost up the profit of the company to  £96,000. Transfer Pricing The other option is when an organisation chooses to decentralise its divisions, transfer pricing helps decide what price to charge for in-company transactions (Collier et al, 2007, p.38-39) and as a form of promoting divisional autonomy (O’Hare, 2010, Management Accounting Lecture 8). It is useful when goods are transferred between divisions; hence, the performance measurement of each division is not prejudiced by the corporate objectives. The profitability of each business units will be affected and according to Solomon (1965 cited in Collier et al, 2007, pp.38-39), companies might take advantage of the transfer pricing which are suitable for evaluating divisional performance for the corporate interest, instead of the business units. Transfer pricing strategies and can produce substantial tax savings in addition to enhancing operational performance and improving cash flow. In many organisations, in order to avoid de-motivating effects on different business units, negotiated p rices are adopted. Say, each product is transferred to Derby division and it pays each division 70% of the sales it made from selling all the jams and yet still bare the cost of advertising, distribution and the head office costs. The local administrative expenses shall be bare by the respective divisions. There are downsides of transfer pricing. The political process in an organisation might affect the transfer pricing between divisions. Incorrect prices adopted can distort reported performance, by making some divisions more profitable at others expense. Opportunities exist to avoid taxes using artificial transfer prices to transfer profits from a high tax division to a low tax division. Rightsizing Rightsizing, or corporate restructuring, with the aim of reducing costs and improving efficiency and effectiveness is also one option in difficult times. Rightsizing is downsizing in the belief that an organisation really should operate with fewer personnel. The primary reason to engage in rightsizing is to make the daily operations of a business more productive. For example, a company may be able to replace assembly line employees with machines which will be quicker and less prone to error. In addition, rightsizing increases profits by reducing the overall overheads of a business. S.B. Ltd operates a full cost (TAC) standard costing system. The standard costs set fot the year 31 March 2010 and information about future costs and selling prices are in Appendix 2. Part 2 (700) Assuming the company decided to go for the option of keeping all divisions open and launching an advertising campaign, you are required to produce a standard cost card for each product and a budget for the company showing clearly the costs attributable to each division for the year to 31 March 2011. State clearly all assumptions made. Standard Cost Card A standard cost card can be defined as ‘a detailed listing of the standard amounts of materials, labour and overheads that should go into a unit of product, multiplied by the standard price or rate that has been set for each elements’ (Anon 2, 2010). A standard cost card, for example must include the price, specifications, quantity and quality of material required, as well as such factors as the period of credit allowed from suppliers, cash and quantity discounts, spoilage due to wastage and deterioration. A standard cost card demands an investigation of all contributing factors that can constitute a cost before the cost is adopted. According to Drury (2010, p.278), standard costs are ‘predetermined costs’ and they are the target costs that should be incurred under efficient operating conditions. The standard cost card will be subjected to updating caused by revision of standards such as changes in prices, discounts, etc. Standard costing is a control system which sets standards that are ideal, expected and achievable (O’Hare, 2010, Management Accounting Lecture). Collier (2007, p.36) put forward that standard costing is a control technique which compares standard cost and all of production revenues with actual results. It is to obtain variances of each division and product (O’Hare, 2010, Management Accounting Lecture 8), which are used to stimulate improved performance and to increase motivation of staff in each division. It is a detective control used to prevent problems from reoccurring as it measures variances as it occur, thus allowing management to take necessary corrective action. The standard cost card for the year ended 31 March 2011 (per batch of 40 jars each 500 grams) for Strawberry Jam, Raspberry Jam and Orange Marmalade are as below: Budget The principal tool in planning is called ‘a budget’. A budget is a collection of predictions. It is an estimation of the revenue and expenses over a specified future period of time. There are three purposes of budgets as identified by Emmanuel et al (1990 cited in Collier, 2007, pp.39-40), ‘as forecasts of future events’, ‘as motivational targets’ and ‘as standards for performance evaluation’. Budget is a financial plan or qualitative statement for implementing the various decisions to be pursued during a specific accounting period, that management has made in the previous period. Collier (2007, pp.39-42) suggest that budgets provide a control mechanism through both the feed forward and feedback loops. The control mechanism in the budget is to provide a performance monitoring function to the appropriate managers who are responsible for implementing the various decisions by producing and presenting the performance reports. According to Drury (2010, pp.8-9), the performance report provide feedback information by comparing planned and actual results. Generally, a functional budget is drawn up for each division of S.B. Ltd. These budgets are, then, merged together into a single combined statement, which is known as the master budget, of S.B. Ltd’s expectations for the future periods. The master budget consists of budgeted profit, which it is expected to convey to everyone in the organisation the part that they are expected to achieve in implementing management’s decisions. The master budget, usually, consists of a budgeted profit and loss, a budgeted balance sheet and a budgeted cash-flow statement. In order to finalised a budgeted profit and loss, other budgets for the individual divisions and produced, such as the sales budget, direct materials usage budget, direct materials purchase budget, direct labour budget, and selling and administration budget. Master Budget Budgeted Profit and Loss Account for the year ending 31 March 2011  £  £ Forecast sales (Schedule 1) 816,000 Purchases (Schedule 3) Materials Fruit 130,272

British Architecture

Finally, the Royal Commission on the Historical Monuments of England, currently known as RCHME was added to this body on April 1st, 1999. English Heritage's principal role is as the steward of over 400 significant diversified, historical and archaeological sites. Concerning the ownership of these sites, they are principally owned by the body of government or by private that are managed under guardianship contracts. Its major missions are to watch the conservation of the buildings, to give advice, to register and to protect the historic environment.Finally, English Heritage owns a public archive: the National Monuments Records better- known as the English Heritage Archive. English Heritage improves its performances year atter year by asking any various groups and members ot the public to take part in consultations and web-based surveys in order to give views on specific issues. 1 1] English Heritage is governed by the Commission which is chaired by Baroness Andrews since 2009. The Com mission provides the strategic direction of the organization within the policy and resources framework agreed with Government.The Commission is composed by 17 people who are called commissioners and are appointed by the Secretary of State for the Department for Culture, Media and Sport. [1 1] http://www. english-heritage. org. uk/ The Commission's role is also to delegate operational management to the Chief Executive, Dr Simon Thurley who is supported by an Executive Board of four directors. Moreover, numerous advisory committees and panels advise the commission and administer specialist areas such as The London Advisory Committee or Battlefields Panel.English Heritage has the status of I-JK Government's adviser and a statutory consultant on all aspects concerning the environment and historic sites. Archeology on land and under water is topics considered by this organization such as historic buildings sites and numerous designated landscapes and their historic elements. English Heri tage also has the mission to gather official statistics for the Government by publishing the annual Heritage at Risk survey. Its main goal is to insure the conservation of heritage of England in order to offer future generations the benefit of enjoying this fantastic heritage.English Heritage main precise missions are: Managing the national collection of sites, monuments, archive records and photographs Giving grants national and local organizations for the conservation of historic buildings, monuments and landscapes. Advising central UK government on which English heritage assets are nationally important and should be protected by designation Administering and maintaining the register of England's listed buildings, cheduled monuments, registered battlefields, conservation areas and protected parks and gardens known as â€Å"The National Heritage List for England†.

Descriptive Essay - Original Writing - 771 Words

bbI walked down to the beach by myself along side of a desolate road. The wind tossed the palm trees and my long hair in every direction. The sun was setting and the sky turned sort of a pink and lavender color which reminded me of my mother. Pebbles on the ground tickled the bottoms of my bare feet as I pondered about her. How her favorite color was lavender, how her hair always smelled like the pink tropical flowers in our front yard, how she always smiled and appreciated the rain for its beauty (even if it meant we couldn’t go surfing), she had dark olive skin with freckles across her nose and top of her cheekbones. Green eyes and a beautiful wide smile that always appeared to be on her face even when times were rough. I didn’t really look my mom, I had freckles like her but my face structure was totally different. Actually I looked like no one in my family. In fact, at family gatherings and reunions I was often asked if I was a good family friend. Even if people th ought I looked a little bit like my mom (because of the freckles) they wouldn’t tell me because they were constantly trying to avoid an awkward conversation. I don’t like those kind of people, who are afraid to say how they feel or afraid of what others might think of them. Just say what you feel because one day youÅ•e going to regret how much you cared. Nami and Kai drove up next to me in Nami’s topless jeep. â€Å"Are you going to Caden’s party?† Kai asked me â€Å"Ya everyone is going, it’s going to be huge!†Show MoreRelatedDescriptive Essay - Original Writing1110 Words   |  5 PagesI don’t know how I got to where I am, but I’m here now, and I have to win if I want to live. I am in a game, and in order to live, I have to escape. That’s the thing, though: I don’t know how to escape. I was running for my life around this old house that looked like it came straight out of a horror movie. 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Listening Comprehension Strategies

Listening comprehension, also known as oral comprehension, can present a struggle for learning disabled children. Many disabilities can make it difficult for them to attend to information delivered orally, including difficulties in processing sounds and prioritizing sensory input. Even children with mild deficits may simply find auditory learning difficult since some students are visual or even kinesthetic learners. What Disabilities Affect Listening Comprehension? Auditory processing disorder, ADHD or a language-processing deficit can have serious impacts on listening comprehension. These children can hear, but imagine a world in which every noise you heard was at the same volume—its just impossible to sort out the important sounds from the unimportant ones. A ticking clock may be as loud and attention-grabbing as the lesson being taught by the teacher.    Reinforcing Listening Comprehension at Home and School For a child with these kinds of needs, listening comprehension work cant only happen in school. After all, parents will have the same struggles at home. Here are some general strategies for children with auditory processing delays. Reduce distraction. To help regulate volume and keep a child on task, its essential to eliminate extraneous noises and motion. A quiet room can help. Failing that, noise-canceling headphones can do wonders for easily distracted learners.Let the child see you when you speak. A child with difficulty interpreting sounds or making them on her own should see the shape of your mouth as you speak. Let him put his hand on his throat when saying words that present difficulty, and have him look in a mirror while speaking.Take movement breaks. Some children will need a refresher in the struggle to listen. Let them get up, move around, and then return to the task. They may need this support more often than you think!Read aloud, at least 10 minutes a day. You are the best example: Spend time reading aloud one-on-one to kids with auditory deficits. Its important to cater to the childs interests.Help her with the process of listening. Have the child repeat what youve said, summarize what shes read, or explain to you how she will complete a task. This builds the foundation of comprehension.When teaching a lesson, present information in short and simple sentences.Always check to ensure that the child understands by repeating or rephrasing your instructions or directions. Use voice intonation to keep his attention.Whenever possible, use visual aids and or charts. For visual learners, this can make all the difference.Help children with organization by presenting the sequence of the lesson before you teach it. e Reference them as youre giving instructions.Teach strategies to these students that include rehearsing mentally, focusing on keywords and using mnemonics. Making connections when presenting new material can help them overcome the sensory deficit.For students for whom distractibility is not the main issue, group learning situations may help. Peers will often help or direct a child with deficits and lend additional support that will preserve a childs self-esteem.   Remember, just because youve said it aloud doesnt mean the child understands. Part of our job as parents and as teachers is to ensure that comprehension is happening. Consistency is the most effective strategy to support children with challenges in listening comprehension.