Sunday, May 24, 2020
What Is a Rape Crisis Center Rape Crisis Centers are around to provide comprehensive services to victims of sexual assault and their families, and to conduct sexual assault prevention and education programs for everyone (About, n.d.). Background/History Rape crisis centers come into play around the early 1970s. The rape crisis movement as well as the feminist movement played a large role on the rape crisis center coming into play. These centers have helped so many people since they have opened before they were open husbands were able to sexual assault their wives with no consequences. These rape centers started off as volunteer groups to help people in need. They still are helping people in need but all workers are not consider volunteersÃ¢â¬ ¦show more contentÃ¢â¬ ¦The reason why this is so important is because everyone does not know what needs to be done on the medical side in regards to rapes. Also, all victims do not have medical insurance so they may not know have seek medical attention. Most advocates provide referrals for these services at low or no cost to the victim or even offer the services at their center for low or no cost. Legal Advocacy is a service the helps victims legally. This helps victims file legal claims in regards to their rape. They also help prep victims for what may take place in the court house. This is very important because some victims do not think they have rights and some just have public defender who is representing them but do not really care about what has happened. Other times when victims go to court the prosecutor may make them feel like the rape was their fault and the legal advocate helps them prepare for court and everything that may happen which is definitely needed for the victim. There is also general advocacy, which is just general help. This may be just being a friend to talk too or help plan what their next step should be. This is needed because victims sometimes just need a shoulder to lean on and know they have someone in their corner who cares and is there for them. Counseling and therapy is needed.Show MoreRelatedRape Crisis Centers For Women1704 Words Ã |Ã 7 Pages Rape Crisis Centers SER 101: Kevin Garganta Pierre Sophy Fall 2016 Ã¢â¬Æ' Abstract This research is focused on rape crisis centers for women who have been sexually abused or raped. Some survivors of rape and sexual abuse require the assistance of rape crisis centers to try and gain back control of their lives. Some women may require long-term counseling as a result whereas others do no. Whichever the case, with such a high number of survivors, the help must remain readily available. Read MoreAn Anonymous Rape Survivor s Story1721 Words Ã |Ã 7 Pages Ã¢â¬Å"It wasnÃ¢â¬â¢t rape you were being such a tease.Ã¢â¬ Ã¢â¬Å"NO I said. I covered my vagina with both of my hands and I said NO! I was with a close male friend and I thought I was safe. I thought I was safe when I went out drinking with said friend and I thought I was safe when we went to my place to Ã¢â¬Å"hangout.Ã¢â¬ This is an anonymous rape survivorÃ¢â¬â¢s story. These common occurrences affect a fair portion of the population in Missoula, in comparison to the national average, and something should be done. There is alsoRead MoreCase Study : Family Crisis Center1118 Words Ã |Ã 5 PagesDescription of Site Family Crisis Center was established in 1981 by volunteers who wanted to provide support for victims of domestic violence and sexual assault. This center is located in Deep South Texas in a town named Harlingen, with a population of approximately 65,000 people. The Family Crisis Center is run by a board of directors consisting of eight members who are responsible for setting up policy and handling the financials of the center. The Family Crisis Center currently employs 23 fullRead MoreRape in the USA764 Words Ã |Ã 4 PagesRape crimes will not get reported seventy five percent of the time, due to some victims being too afraid to speak up. There is a problem in society; big issues like these need to be stopped. Rape is not just being touched or molested without wanting it, it is actually really more than it may appear. Rape can happen to anybody, anywhere, and at any time. The number of victims is shocking. Most rape victims know their rapist. ThereÃ¢â¬â¢s organizations reachi ng out to support rape victims. They sufferRead MoreRape Culture: Attitudes and Assessments Essay1713 Words Ã |Ã 7 PagesRape, it seems to be an uncomfortable word for most people to hear or talk about. Whether itÃ¢â¬â¢s just embarrassing or a sore subject most people just donÃ¢â¬â¢t like to talk about it. There is a certain stigma that surrounds rape and that is the main source of the problem. There is rape culture in this country that leads men and women in this country to believe that in certain situations rape is okay. Whether she was Ã¢â¬Å"dressed like she was asking for itÃ¢â¬ or was passed out drunk, these are not excuses forRead MoreExploring A Specific Crisis Situations1282 Words Ã |Ã 6 Pages Exploring a Specific Crisis Situations The Story of Melody Shandi Gerkin Thomas University Exploring a Specific Crisis Situation: The Story of Melody In order to explore how a crisis worker would approach, assess, and treat a crisis situation, this paper will focus on the story of Melody, the victim of a brutal rape. Melody Swanson is a 50 year old, divorced teacher who has been living alone since her children went to college two months ago. MelodyRead MoreRape1253 Words Ã |Ã 6 PagesAbstract This study will examine what the factors are that influence which victims of sexual assault experience PTSD symptoms and which treatments help prevent these symptoms from occurring. The sample includes 100 women diagnosed with posttraumatic stress disorder (PTSD) attributed to rape who participated in a randomized clinical trial. Findings were assessed through coding and analyzed through participants written statements at three separate time points: before treatment, during treatment,Read MoreSexual Assault And Its Effects On The Middle Upper Class Essay1636 Words Ã |Ã 7 Pageswith minority groups such as the LGBTQ+ community, racial/ethnic minorities, and with the lower class do not have the support services needed to help them recover from sexual assault. Understanding how minority persons needs differ can help rape crisis centers and other sexual assault support agencies more accurately provide resources that not only help these minority groups individually, but also helps sur vivors who have multiple intersecting minorities as they can choose from diverse services forRead MoreRape: A Crime1196 Words Ã |Ã 5 PagesThe definition of rape is: The unlawful compelling of a person through physical force or duress to have sexual intercourse. Basically, rape is a forceful act in trying any way possible to make someone have sex with them. This crime is still being committed to this day and is not viewed as big of an issue as it truly is. In order to prove rape is a disgusting and unnecessary crime, the following essay will consist of the history, laws, the costs involved, health effects, and the opposing sideÃ¢â¬â¢s beliefsRead MoreDomestic Violence And Its Effects On Society1360 Words Ã |Ã 6 Pagesmust be realized that there are victims, and those victims need help. Some countries have no concern or sympathy for victims, as more than twenty countries have no laws against abuse (Domestic Violence in Developing Countries: An Intergenerational Crisis, n.d.). In many cases, victims should be placed in a counseling program so that they can learn that the trauma they endured was not their fault. Both Sarasota and Manatee counties have shelters for women who have been abused, however, Sarasota County
Wednesday, May 13, 2020
Ã¢â¬Å"I put out the very best that was in. I often state I Ã¢â¬Ëm not here for myself but for others coming behind meÃ¢â¬ These are the powerful words of one strong dedicated woman, who devoted her life to helping others and whoÃ¢â¬â¢s legacy paved the way for other women and African Americans. Felice Hill Gaines was an educator, devoted worker, a scholar, and a trail blazer. Felice Hill Gaines was born in St. Louis on September 25th 1908 to Samuel F. and Anita Hill. Mrs. Gaines Married Samuel Gaines of Warrensburg Missouri on May 6, 1933. Felice Hill Gaines relocated to Warrensburg. In an article for the mule skinner Gaines stated Ã¢â¬Å"My husband was born and raised here in Warrensburg, and I being in love followed him.Ã¢â¬ Samuel and Felice have one son Samuel Gaines III. Felice Hill graduated from Stowe Teachers college in St. Louis. Stowe teachers college, now known as Harris-Stowe, was founded in 1890 as a school for future black elementary teachers. The college was named after Harriet Beecher Stowe, abolitionist, and famous writer of Uncle TomÃ¢â¬â¢s Cabin. Harriet Beecher Stowe and Mrs. Gaines were very similar; both women paved the way for other women, both women were feminist. Felice Hill Gaines passion for education led the way for her career and allowed her to break barriers for African American men and women. Mrs. Gaines served as an educator in Warrensburg Missouri and in surrounding areas such as Knob noster. Felice hill Gaines was a teacher at the Howard school in Warrensburg
Wednesday, May 6, 2020
string(152) " wants to reduce its existing manufacturing costs it must dentify the alternatives then it will analyze the alternatives by using only relevant data i\." 1. 1 Origin of the Report This report was originated to make a study about the cost accounting system of Beximco Pharmaceuticals Ltd. for the requirement of completion of 1st semester of Master of Business Administration (MBA) program of the Department of Accounting Information Systems, University of Dhaka. We will write a custom essay sample on Cost Accounting System of Bpl or any similar topic only for you Order Now This term paper was an attempt to acquaint the students with the real world situations so that the knowledge gained from the classroom is further strengthened. As the classroom discussion alone cannot make a student perfect in handling the real business situation, therefore it is an opportunity for the students to know about the real life situation through this term paper. 1. 2 Background of the Report The importance of cost accounting and cost accounting information is being increased day by day. It is not only help to reduce cost but also in all kind of decision making. Without analysis of cost accounting information no manager can make effective decision. The cost accounting collects the data, analyze those data and help the managers to make better decision. In accordance with development of new tools and techniques of cost accounting the use of cost accounting information is changing. Managers need to use the cost accounting information in different way from traditional method to evaluate the performance. Developing and accepting the JIT, TQM and other contemporary costing techniques force to manager to change the performance evaluation techniques and requires different cost accounting information unlike traditional labor based information now a dayÃ¢â¬â¢s which become obsolete. Primarily this report is concerned with cost accounting information by an organization in decision making as well as corporate reporting, the tools and techniques used by organizations and the implications of these in the organization. We select Beximco Pharma to examine the use of cost accounting information and cost accounting tools and techniques used by the company. We emphasize on the implication of using information and technique and examine whether Beximco Pharma use or not that particular techniques and the reason of following or not following based on our queries to respective authority of the company. 1. 3 Scope of the Report: This report is limited to the cost accounting department of the Beximco Pharma including cost accounting systems procedure and techniques. Since Beximco want to achieve top quality along with cost control it uses its cost accounting information very strongly. This report covers only the use of cost accounting information for the purpose of decision making and coporate reporting not overall performance of the Beximco Pharma. 1. 4 Objective of the Report: 1. to have a general idea about cost accounting information and its use in decision making. 2. To have clear understanding about the cost accounting system used by Beximco Pharma. . Finding out the disclosure of cost accounting information used by the company. 4. To draw a conclusion based on our understanding of Beximco Pharma. 1. 5 Methodology of the Report: The details of the work plan are furnished below: Data sources The data and information for this report have been collected from both the primary and secondary sources. Among th e primary sources, face to face conversation with the respective stuffs of the head office. The secondary sources of information are annual reports, websites, and study of relevant reports, documents and different manuals. Data processing Data collected from primary and secondary sources have been processed manually and qualitative approach in general and quantitative approach in some cases has been used throughout the study. Data analysis and interpretation Qualitative approach has been adopted for data analysis and interpretation taking the processed data as the base. 1. 6 Organization of the Report This report is divided in to mainly 5 parts. The 1st part is introductory part that states the origin, background, scope, objectives, methodology of the report. The 2nd part is the literature review of the study. This part explains the cost accounting information and its use in decision making by the managers. The next part discusses about the cost accounting system of Beximco Pharma. The 4th part finds out the contemporary methods and techniques of cost accounting used in Beximco Pharma. The last part concludes the report with some recommendation. 1. 7 Limitation of the Report There were some limitations in the preparation of the report. The source of the cost accounting system of the company was mainly based on their financial reports of different. Though we conducted the responsible authority, they were reluctant to give us the full disclosure about their management policies. Because of such information is prepared for the management for internal use only, this was not available. Moreover, most of them were confidencial. Other limitations were our time constraint and resources to prepare an effective term paper on this topic. 2. 1 Cost Accounting Information: In a broad aspect, cost accounting refers to the measurement, analysis, and reporting financial and nonfinancial information relating to the cost of acquiring or using resources in an organization. So cost accounting can be defined as the information obtained from cost accounting activities. For example, calculating the cost of product is a cost accounting function that answers managerÃ¢â¬â¢s decision making needs (such as choosing products to offer). Modern cost accounting takes the perspective that collecting cost information is a function of the management decision being made. Cost accounting information helps the manager in short-run and long-run planning and control decisions that increase value for the customers and lower the costs of products and services. For example, managers make decisions regarding the amounts and kinds of material being used, changes in plant processes, and changes in product designs. 2. 2 Cost Accounting Information in Decision Making: For making decision by using cost accounting information cost accountant usually follow some specific models. They use different decision model for different courses of action. Management accountants work with manager by analyzing and presenting relevant data to guide decisions. For example, if any organization wants to reduce its existing manufacturing costs it must dentify the alternatives then it will analyze the alternatives by using only relevant data i. You read "Cost Accounting System of Bpl" in category "Essay examples" e. , which can influence the decisions. For making decision managers usually use five step decision process which is described below: Historical Costs Step-5 Step-4 Step-1 Obtain information Step-2 Step-3 Other Information Make prediction about future costs Specific prediction Choose an alternative Implement the decision Evaluate performance 2. 3 Factors regarding decision making using cost accounting information: There are several factors that affect the decision making procedure of the managers. Some important factors are discussed here: a. Relevant costs and relevant revenues: Relevant costs are expected future costs and relevant revenues are expected future revenues that differ among the alternative courses of action being considered. Both relevant costs and relevant revenues must occur in future and they differ among the alternative courses of action. Focusing on the relevant data is especially helpful when all the information needed to prepare detailed income information is unavailable. Understanding which costs are relevant and which are irrelevant helps the decision maker concentrate on obtaining only the pertinent data and saves time. b. Qualitative and quantitative relevant information: Manager defines and weighs qualitative and quantitative information. Quantitative information are those which can be measured by the numerical number and qualitative information are those which cannot be measured by the number and off course manager will decide which one is measurable by the number and which one is not. Relevant cost analysis generally emphasis on quantitative factors but qualitative factors also have their own importance. c. One time only special orders: When factory has idle production capacity then manager must decide whether accepting or rejection special orders if special order has no long implications. Example: if any company has capacity to produce 18000 units and currently producing 16000 units. The total cost (fixed-5 and variable-5) per unit is tk. 10. If they got an order to deliver 4000 units for tk. 6 per unit they should accept it. But if they get the order of 5000 units they should not accept it because it crosses its relevant range. To make decision about special onetime order only relevant cost should be considered. A common term in decision making is incremental cost which means additional cost for producing every additional unit is also important in this regard. d. Insourcing Vs. Outsourcing and Make Vs. Buy decision: Outsourcing or Bye decision is purchasing goods and services from outside rather than producing in inside of the organization. Whether bye or make is sometimes influenced by qualitative factors. For example coca-cola company will never do outsourcing due to secrecy of the formula, know-how, and technology. In order to make decision if bye or make manager usually take into consideration about quality, dependability, material handling and set-up activity. And off course manager does cost benefit analysis based relevant cost information. e. Focusing on grand total: Manager will focus on grand total cost in making decision rather than unit cost. Sometimes unit cost could be misleading. If we want to make decision about make or buy, insourcing vs. utsourcing we need to consider total cost not unit cost. f. Using constrained resources: Under this condition, manager should select the product that yields the highest contribution margin per unit of the constraining or limiting resources. g. In deciding whether add or drop customer or to add or discontinue segment: Manager should focus on whether total overhead cost change in making decision about adding or dropping customer or adding or discontinuing segment. Manager should ignore allocating overhead cost. h. Replacement of equipment: In the time of equipment replacement existing book value is irrelevant because it is a sunk cost so it should be ignored. i. Concentrate on consistency on performance evaluation: There is always a confliction between the decision model used by a manager and the performance model used to evaluate that manager. Top management must ensure that the performance evaluation model will be consistent with decision model. A common inconsistency is to tell these managers to take a multiple year view in their decision making but then to judge their performance only on the basis of current yearÃ¢â¬â¢s operating income. If there is no consistency between performance evaluation and performance model then control will be impossible and making decision model will be valueless. 2. 4 Cost Accounting Information in Corporate Reporting: The main purpose of cost accounting information is to help managers in decision making. Such information is provided for the internal purpose only. There are some guided rules and regulations about the information in the reports. According to IAS 1 (Presentation of Financial Statements), aragraph 117, Ã¢â¬ËÃ¢â¬â¢ An entity shall disclose in the summary of significant accounting policies: (a) the measurement basis (or bases) used in preparing the financial statements, and (b) the other accounting policies used that are relevant to an understanding of the financial statements. Ã¢â¬ It is important for an entity to inform users of the measurement basis or bases used in the financial statements (for example, historical cost, current cost, net realizable value, fair value or recoverable amount) because the basis on which an entity prepares the financial statements significantly affects usersÃ¢â¬â¢ analysis. When an entity uses more than one measurement basis in the financial statements, for example when particular classes of assets are revalued, it is sufficient to provide an indication of the categories of assets and liabilities to which each measurement basis is applied. According to paragraph 125 of the same IAS, Ã¢â¬Å"An entity shall disclose information about the assumptions it makes about the future, and other major sources of estimation uncertainty at the end of the reporting period, that have a significant risk of resulting in a material adjustment to the carrying amounts of assets and liabilities within the next financial year. In respect of those assets and liabilities, the notes shall include details of: (a) their nature, and (b) their carrying amount as at the end of the reporting period. Ã¢â¬ An entity presents the disclosures in paragraph 125 in a manner that helps users of financial statements to understand the judgements that management makes about the future and about other sources of estimation uncertainty. The nature and extent of the information provided vary according to the nature of the assumption and other circumstances. Examples of the types of disclosures an entity makes are: (a) the nature of the assumption or other estimation uncertainty; (b) the sensitivity of carrying amounts to the methods, assumptions and estimates underlying their calculation, including the reasons for the sensitivity; (c) the expected resolution of an uncertainty and the range of reasonably possible outcomes within the next financial year in respect of the carrying amounts of the assets and liabilities affected; and (d) an explanation of changes made to past assumptions concerning those assets and liabilities, if the uncertainty remains unresolved. Other IFRSs require the disclosure of some of the assumptions that would otherwise be required in accordance with paragraph 125. For example, IAS 37 requires disclosure, in specified circumstances, of major assumptions concerning future events affecting classes of provisions. IFRS 7 requires disclosure of significant assumptions the entity uses in estimating the fair values of financial assets and financial liabilities that are carried at fair value. IAS 16 requires disclosure of significant assumptions that the entity uses in estimating the fair values of revalued items of property, plant and equipment. There are also some guidelines for reporting cost accounting information in IAS 2: Inventories. The objective of this Standard is to prescribe the accounting treatment for inventories. A primary issue in accounting for inventories is the amount of cost to be recognised as an asset and carried forward until the related revenues are recognised. This Standard provides guidance on the determination of cost and its subsequent recognition as an expense, including any write-down to net realizable value. It also provides guidance on the cost formulas that are used to assign costs to inventories. Measurement of inventories Inventories shall be measured at the lower of cost and net realisable value. Cost of inventories The cost of inventories shall comprise all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition. Costs of purchase The costs of purchase of inventories comprise the purchase price, import duties and other taxes (other than those subsequently recoverable by the entity from the taxing authorities), and transport, handling and other costs directly attributable to the acquisition of finished goods, materials and services. Trade discounts, rebates and other similar items are deducted in determining the costs of purchase. Costs of conversion The costs of conversion of inventories include costs directly related to the units of production, such as direct labour. They also include a systematic allocation of fixed and variable production overheads that are incurred in converting materials into finished goods. Fixed production overheads are those indirect costs of production that remain relatively constant regardless of the volume of production, such as depreciation and maintenance of factory buildings and equipment, and the cost of factory management and administration. Variable production overheads are those indirect costs of production that vary directly, or nearly directly, with the volume of production, such as indirect materials and indirect labour. The allocation of fixed production overheads to the costs of conversion is based on the normal capacity of the production facilities. Normal capacity is the production expected to be achieved on average over a number of periods or seasons under normal circumstances, taking into account the loss of capacity resulting from planned maintenance. The actual level of production may be used if it approximates normal capacity. The amount of fixed overhead allocated to each unit of production is not increased as a consequence of low production or idle plant. Unallocated overheads are recognised as an expense in the period in which they are incurred. In periods of abnormally high production, the amount of fixed overhead allocated to each unit of production is decreased so that inventories are not measured above cost. Variable production overheads are allocated to each unit of production on the basis of the actual use of the production facilities. A production process may result in more than one product being produced simultaneously. This is the case, for example, when joint products are produced or when there is a main product and a by-product. When the costs of conversion of each product are not separately identifiable, they are allocated between the products on a rational and consistent basis. The allocation may be based, for example, on the relative sales value of each product either at the stage in the production process when the products become separately identifiable, or at the completion of production. Most by-products, by their nature, are immaterial. When this is the case, they are often measured at net realisable value and this value is deducted from the cost of the main product. As a result, the carrying amount of the main product is not materially different from its cost. Disclosure of Inventory in Financial Statesments The financial statements shall disclose: a) the accounting policies adopted in measuring inventories, including the cost formula used; (b) the total carrying amount of inventories and the carrying amount in classifications appropriate to the entity; (c) the carrying amount of inventories carried at fair value less costs to sell; (d) the amount of inventories recognised as an expense during the period; (e) the amount of any write-down of inventorie s recognised as an expense in the period in accordance with paragraph 34; (f) the amount of any reversal of any write-down that is recognised as a reduction in the amount of inventories recognised as expense in the period in accordance with paragraph 34; (g) the circumstances or events that led to the reversal of a write-down of inventories in accordance with paragraph 34; and (h) the carrying amount of inventories pledged as security for liabilities. Information about the carrying amounts held in different classifications of inventories and the extent of the changes in these assets is useful to financial statement users. Common classifications of inventories are merchandise, production supplies, materials, work in progress and finished goods. The inventories of a service provider may be described as work in progress. The amount of inventories recognised as an expense during the period, which is often referred to as cost of sales, consists of those costs previously included in the measurement of inventory that has now been sold and unallocated production overheads and abnormal amounts of production costs of inventories. The circumstances of the entity may also warrant the inclusion of other amounts, such as distribution costs. 3. 1 An overview of Beximco Pharma Beximco Pharmaceuticals Ltd. is a leading edge pharmaceutical company and is a member of the BEXIMCO Group, the largest private sector industrial conglomerate in Bangladesh. The strategic strengths of Beximco Pharma are its strong brand recognition, highly skilled work force and diversified business mix. Beximco Pharma brands Ã¢â¬â Neoceptin R (Ranitidine), Napa (Paracetamol), Amdocal (Amlodipine), Neofloxin (Ciprofloxacin), Bexitrol F (Salmeterol Plus Fluticasone), Bextrum Gold (Multivitamin and Multi Mineral) and Atova (Atorvastatin) are among the most recognized brands in the Bangladesh Pharmaceutical industry. Beximco Pharma started its operation in 1980, manufacturing products under the licenses of Bayer AG of Germany and Upjohn Inc. of USA and now has grown to become nationÃ¢â¬â¢s one of the leading pharmaceutical companies, supplying 15% of countryÃ¢â¬â¢s total medicine need. Today Beximco Pharma manufactures and markets its own `branded genericsÃ¢â¬â¢ for almost all diseases from AIDS to cancer, from infection to asthma, from hypertension to diabetes, both nationally and internationally. Beximco Pharma manufactures a range of dosage forms including tablets, capsules, dry syrup, powder, cream, ointment, suppositories, large volume intravenous fluids, metered dose inhalers etc. in several world-class manufacturing plants, ensuring high quality standards complying with the World Health Organization (WHO) approved current Good Manufacturing Practices (cGMP). The recipient of three times `goldÃ¢â¬â¢ national export trophy, Beximco Pharma is the largest exporter of pharmaceuticals from Bangladesh, spreading its presence in many developing and developed countries across the globe. Beximco Pharma is the only company in Bangladesh to receive this highest national accolade for export, for record three times. Beximco Pharma markets its brands through professional sales and marketing teams in African, Asian and European markets. It also supplies its products to renowned hospitals and institutions in many countries, including Raffles Hospital and K K Women Children Hospital in Singapore, MEDS and Kenyatta National Hospital (KNH) in Kenya, Jinnah Hospital, Agha Khan Hospital and Shaukat Khanum Memorial Hospital in Pakistan. Beximco Pharma is also an enlisted supplier of WHO and UNICEF. Another important business activity of Beximco Pharma is the contract manufacturing for major international brands of leading multinational companies. Beximco Pharma is acclaimed domestically and internationally for its outstanding product quality, world class manufacturing facilities, product development capabilities and outstanding service. Beximco Pharma has a strong market focus and is anticipating continued future growth by leveraging business capabilities and developing superior product brands and markets. In particular the company is very interested in developing a strong export market in USA and Europe. To meet the future demand Beximco Pharma has invested US$ 50 million to build a new state-of-the-art manufacturing plant, confirming to USFDA and UK MHRA standards. This new plant will also offer contract-manufacturing facility to leading pharmaceutical companies, especially from Europe and US. 3. 2 Cost Accounting System of the company: The company primarily uses batch costing method in their costing system. As a pharmaceuticals manufacturing company they need to produce huge amount of product so here batch costing is appropriate for the company. Here it is cost effective and easy to calculation. Batch costing has the several advantages over other methods in regard of the providing following information: -the analysis and the cost control at each cost generator; -the operative management of each place generator of costs, the specification of the production and of the predicted costs and their control and realization; -the correct assessment of the produced stocks; -determination of the efficiency obtained by the taken decisions. The company uses weighted average method in time of inventory valuation. They believe that it gives more accurate and clear picture of inventory. In this method it is very hard to manipulate and easy to calculate though it has a limitation that it sometimes canÃ¢â¬â¢t represent inflation. 3. 3 Valuation of Inventories: Inventories are carried at the lower of cost and net realizable value as prescribed by IAS 2: Inventories. Cost is determined on weighted average cost basis. The cost of inventories comprises of expenditure incurred in the normal course of business in bringing the inventories to their present location and condition. Net realizable value is based on estimated selling price less any further costs expected to be incurred to make the sale. Cost included for the local raw materials purchased are 1) Procurement Cost. 2) Transportation Cost 3) Bank Charge Cost included for the imported raw materials are 1) Procurement Cost 2) Bank Charge for Opening L/C 3) Insurance 4) Clearing from the Port and 5) Transportation Cost. 3. 4 Disclosure of Inventory in Financial Statements According to IAS 2: Inventories, the Company disclosed the following information regarding inventory: (a) The Company uses weighted average method in measuring the inventories. (b) The total carrying amount of inventories is tk 1,739,818,419. The carrying amount of classified inventories for the last four years is given below: Type| 2005| 2006| 2007| 2008| Finished Goods| 294,831,219| 398,102,771| 331,438,214| 358,010,498| Work in Process| 113,067,980| 178,713,956| 142,743,433| 171,647,779| Raw Material| 631,820,233| 623,238,087| 607,643,749| 554,338,294| Packing Material| 212,162,685| 200,227,273| 188,571,634| 187,608,219| Laboratory Chemical| 465,253| 2,163,268| 2,673,958| 3,719,853| Literature Promotional Material| 9,456,983| 44,474,997| 49,039,537| 67,024,325| Physician Sample| 8,236,593| 14,025,516| 18,397,570| 23,037,101| Raw Packing Material in Transit| 64,806,398| 196,082,038| 178,683,684| 206,926,349| Stock of Stationery| 1,569,863| 2,537,415| 2,162,958| 4,092,814| Spares Accessories| 58,377,700| 94,874,967| 131,125,554| 163,413,187| Total| 1,394,794,907| 1,754,440,288| 1,652,480,291| 1,739,818,419| (c) The carrying amount of inventory pledged as security for liabilities in 2007 is given below: | 2008| 2007| Janata Bank:| | | Cash Credit- Pledge| 149972631| 165214805| Cash Credit- Hypothecation| 666029415| 628919853| Total| 816002046| 794134658| Price Analysis Tender Announcement Planning Department I I Service Approved? MRR Production Destination Return PM / PM to Supplier Quality GRR If Import If Local Opening LC Receive Performa Invoice Prepare Purchase Order Contract C F Agents Supervisions LC Receive or Store Materials Selection Potential Suppliers Purchase Department Marketing and Sales Department (Forecast of Products) Analysis RM / PM Go for Production Material Available in Stock? Inventory Cycle 2007 2008 3. 5Cost of Goods Sold of the company 2007 2008 Material consumed by the company: 2007 2008 3. 6 Factory Overhead of the Company: 4. Contemporary cost accounting methods and techniques used by Beximco Pharma: Beximco Pharmaceuticals Ltd is a leading company in our country. To compete with the other companies in the industry, Beximco Pharma uses several contemporary methods and techniques. Mass production of a mature product with known characteristics and a stable technology was the basis of traditional cost accounting models. Anyway, Beximco Pharma, with automation, lessened the labor content in manufacturing process while the other costs in the company are increased. Flexible manufacturing system: Flexible manufacturing systems use computer controlled production processes, ncluding CAD/CAM programmable machine tools. Because flexible manufacturing reduces setup or changeover times, companies can efficiently manufacture a wide variety of products in small batches. Though Beximco Pharma can adopt flexible manufacturing system, it merely reduces the size of the batch. Total quality management: Total Quality Manageme nt refers (TQM) to the process of continuous improvement to achieve the full customer satisfaction. Rather than waiting to inspect items at the end of the production line or striving to stay within acceptable tolerance limit, TQMÃ¢â¬â¢s goal is eliminating all waste. In Beximco Pharma, quality is maintained with great care. As it is a pharmaceutical company, it is mandatory to keep up with the quality level with the other companies. As a result, they have received GMP Clearance from Therapeutic Goods Administration (TGA) of Australia and from Gulf Central Committee for Drug Registration, Executive Board of the Health MinistersÃ¢â¬â¢ Council for Gulf Cooperation Council (GCC) states (representing Saudi Arabia, Kuwait, Bahrain, United Arab Emirates, Qatar and Oman). The company is also in the process of obtaining approvals from several other regulatory authorities including National Health Surveillance Agency (ANVISA) of Brazil, Medicine and Healthcare Regulatory Agency of United Kingdom (UK MHRA), US FDA etc. Just in Time Concept: The Just in Time (JIT) minimizes throughput time by emphasizing continuous improvements. JIT reduces inventories by achieving a continuous production process. In JIT system, employees keep on hand only the inventory needed to production until the next order arrives. Having fewer goods in hand not only requires less warehouse spaces and storage equipment but also reduces inventory holding cost, while realizing productivity. For implementing JIT, company must need a strong supply chain system. In Beximco Pharma, they canÃ¢â¬â¢t follow JIT because most of the inventory or raw materials are come from abroad so it is impossible to implement JIT in Beximco Pharma. If they want to implement JIT their cost will be higher rather than being lower because here ordering cost is very high as raw materials are imported. Beximco use EOQ model to determine their ordering size and they have large storage facilities. Pull Rather than push system: Pull system refers to decision will come from downstream of management. The factory production line operates on a demand pull basis. A pull system can only work while manufacturing process can react to a pull system. However Beximco Pharma doesnÃ¢â¬â¢t follow the pull system they use push system. The authority of Beximco Pharma believes that push system is more effective than pull in the context of Bangladesh. Because of JIT is not possible in the firm, pull system is difficult to implement because in pull system it is believed that it is better not to produce unnecessary products and do not keep inventory in hand. Activity-Based Management: The activity-based management system links resources consumption to the activities a company performs and cost the activities to product or customers. Activity-based management uses activity based costing systems to measure and control this relationship. In Beximco Pharma there is no such use activity cost driver to measure the cost of a product. The traditional system is used to determine the cost of the product. Life Cycle Costing: Life cycle costing tracks and determines the cost attributed to each product and service from its initial research and development to development to final marketing to customer. In Beximco Pharma, this type activities is done in mainly in the Central Product Management (CPM) Department. The activities of CPM are: * Market research * Selection of new product * Design and testing of product (DTP) * Sample store (logistics) management * Making strategy The department deals with the controllable marketing variables, the 4pÃ¢â¬â¢s. This department takes decisions in the following areas: * Product Ã¢â¬â Size, color, shape, packaging etc. * Price Ã¢â¬â Raw materials cost, customer ability, regulatory bodyÃ¢â¬â¢s approval etc. Promotion Ã¢â¬â Promotional aids include brochure, pads, folder, and plant visit by physicians, health-related people, students, and people of different student. Other than this department, in January, 2000, the Business Research ; Development department w as established. The functions that are done by this department are: * Outsourcing negotiated * New product study * New technology study * Project feasibility study * Commercial negotiation * Observing the world pharmaceuticals market With these departments, Beximco Pharma determines the Life Cycle of the products. Target Costing: Target costing is an approach which determines what a product or service should cost based on its sales price less a target profit. Unlike traditional costing for making up cost, it is a market driven way of examining the relationship of price and cost. In Beximco Pharma, the use of Target Costing is very common to make the target for the cost of the product. Change In performance Evaluation: The adoption of JIT, life cycle costing and other innovative techniques requires new performance evaluation techniques rather than traditional productivity measures because it is irrelevant in this context. The use of single short term profit measure may not be sufficient because it is not reliable indicator of managersÃ¢â¬â¢ ability. Profit may be increased by doing some activities which are not conform to companies overall organizational goal. Goal Congruence: this performance measures should encourage manager to achieve overall organizational goal. The Beximco Pharma does not explain the measurement of the performance of the employees. In general, some marketing employees get benefited if the sales volume is high. But the total performance evaluation system depends in the decision of the management. Concluding Remarks: Beximco Pharmaceuticals Ltd. is a leading edge pharmaceutical company and is a member of the BEXIMCO Group, the largest private sector industrial conglomerate in Bangladesh. Beximco Pharma is also the largest exporter of pharmaceuticals from Bangladesh, spreading its presence in many developing and developed countries across the globe. Recently, BPL has successfully made its footmark in the global market when it made its debut on the London Stock Exchange as the first Bangladeshi company to be listed in the worldÃ¢â¬â¢s most prestigious bourse. This milestone event has widened the responsibility, accountability and transparency of the company beyond geographical border. The listing adds new challenges to the staffs of Accounts Finance department who are directly responsible for financial reporting to a diverse group of stakeholders both in national and international arena. In this report, we have tried my level best to identify cost accounting techniques and procedures used by Beximco Pharma. What and how Beximco Pharma use cost accounting information for decision making and external financial reporting along with describing the procedure and systems of using cost accounting information. In this report, we imply our acquired knowledge from cost accounting course and try to comply with the techniques procedure and systems followed by the company. Beximco believes that quality and control should be ensured and these can be ensured by using proper cost accounting information. Relevant and reliable cost information can be ensured by implementing by using effective cost accounting methods. And they do the best one fit in the context of Bangladesh. References: 1. Horngren, Charles T. , Datar Srikant M. , Foster, G. ; Ã¢â¬Å"Cost Accounting: A Managerial ApproachÃ¢â¬ , Prentice Hall, Inc. ; 12th Edition, 2007. 2. Rayburn, Latricia G. ; Ã¢â¬Å"Cost Accounting: Using A Cost Management ApproachÃ¢â¬ ; Irwin Book Team; 6th Edition, 1996. 3. Hansen, Don R. , Mowen Maryanne M. ; Ã¢â¬Å"Cost Management: Accounting and ControlÃ¢â¬ ; South-Western College Pub; 5th edition, 2005. 4. Ã¢â¬Å"International Financial Reporting StandardÃ¢â¬ ; International Accounting Standard Board; as approved at 1 January, 2008. 5. http://www. beximco-pharma. com 6. http://britannica. com 7. http://en. wikipedia. org 8. http://www. bizmanualz. com 9. http://www. iasplus. com How to cite Cost Accounting System of Bpl, Essay examples
Monday, May 4, 2020
The human condition is based on attitudes, but not reactions. The human condition regrets the actions our emotions cause us to do. The human condition is an expedition where it encounters good and bad. The good of helping others or our surroundings in general. The bad of turning our mixed emotions into something more hurtful where we want the people whom have hurt us to experience the pain and feel no sorrow for them, for they didnt feel any sort of compassion. When those e cared for hurt us or we hurt them back because of what our emotions felt. Not everyone Is the same; some people are Just obsessed with getting back at those whom have hurt them or Just want them for themselves or Just feel theyve been betrayed In some way. In the story Lamb to the Slaughter the wife Is obsessed with her husband and just wants him for her and no one else. Her husband confessed to her and somehow she felt betrayed and she killed her husband.She couldnt believe what she did and thought he would wake later on, but knowing he wasnt going to. Our emotions can cause us to do some regrettable things that we later ask ourselves why did I do that? Our attitude towards a situation is completely different from how we react to it. We always somehow dont know how to react to a situation and our emotions take over and cause us to do something regrettable that defines our attitude towards the situation. Some people do think what their actions will do to others or those who have hurt them.Sometimes those who had nothing to with the situation end up being the ones getting hurt and not those who caused the pain and trouble. In the story Made Made had killed her own children for no reason just because they reminded her of Jason. Jason was the one who betrayed her not her children. She basically took out her rage out on the children by killing them, Croon, and the princess. The human condition is not all bad. The bad is Just brought from our emotions that could be controlled if we reacted positively towards the situation. We are all capable of changing if we wanted to, to be better people than we or most of us are or for those who do bad Just to do bad and want to change to be better people. We as human beings are Informed from the people around us or news reports, things that Just happen around the world that really affect us either emotionally or personally Like protests, wars, or massacres. There Is no person who Is bad In my opinion, yes there is no excuse for what some people do that may affect us ourselves.If we were to really think things through why would we want to get back at whomever hurter us or betrayed us? What good is it to get back at them? If we do get back at whomever hurt us well feel worse than we did before because now that we got what we wanted it isnt what we needed. Our regrets are what stand in the way of us moving on and our emotions especially play with our mind making us confused and not knowing what to do with the situation, but only if we thought things through, the situa tion could turn out differently from what we want it to be.Besides the fact that not all people are bad, the good in oneself comes from us wanting to do good not because we have to, but because we want to. The reason people do good is because its the right thing to do not because theyll get rewarded afterwards or to make themselves feel better its Just because you want to not cause you have to. In And of clay we are created Roll Carla didnt help Acumen from dying because he had to, he helped her because he wanted to. He could have just left her there to die, but instead he stayed with her, fed her, and made her feel that someone did care and love her.Though he did everything he could to save her, he didnt get rewarded at the end for trying; he did what was right and did what he could. When Acumen begged Roll Carla Dont leave me alone Roller Carla could have Just left, but instead he stayed telling her No, of course I wont leave you. Roller Carla knowing Acumen wouldnt make it, he still did everything in his power to help her out of that hole. The human condition isnt Just about doing good or bad, its about how hard we try.Our self-conscious is what lets us become aware of our actions and emotions. In Lord of the flies Rail was self-conscious that no matter how hard he tried to keep everyone together Jack always turned everything upside down and turned most of the boys of whom he didnt kill into savages. Rail cared about everyone being rescued, but Jack only cared about the beast or the pig. We could steal up on one paint our faces so they wouldnt see perhaps surround them and was talking about smoke! Dont you want be rescued?All you talk about is pig, pig, pig! We all sometimes if not always assume whats good or bad for others, but we all really need to stop and think whats really good for ourselves. My point on the human condition is that we all can change if we wanted to. There are things we see and hear that plague our minds and perhaps are what cause us to do impact things. To this, in my opinion, there are three different types of people n the world, those who forgive but dont forget, those who forgive but dont forget and those who forgive and forget.I think this is w hat make us so different. I believe that if we all Just all stop and think things through and do better and smarter things our actions wouldnt be so hurtful to others and we wouldnt be or feel betrayed. We all know that some of us go through hard times or are in a difficult position, but is no excuse for how we act and treat others. We are all the same no matter where in world we maybe or how different we look; were all the same and should be treated that way no matter what the situation maybe.