Unit 9&10 Essay Example | Topics and Well Written Essays - 1250 words

Unit 9 - Essay Example To look at the issue of profound quality in ecological circumstances, one faces the idea of rights and obligations put on the map by Immanuel Kant. As indicated by Gilbert (2000), this methodology is better clarified, indeed: â€Å"the fundamental situation here is that people have rights, either as people, as residents of a given nation or state, or as inhabitants of a specific position. These correct rights give obligations on others, and the ethical quality of a given choice or act can be dictated by an examination of these rights and duties.† The privileges of the concerned residents of Florida remain the security and conservation of Florida’s coastline to be viewed as a heritage to this nation’s youngsters. It is an obligation to safeguard plant and natural assets to aid a quick restoration of Florida’s seas and address the as yet looming dangers. One pertinent answer for this naturally moral difficulty is to call the consideration of government authorities to diminish government endowment that energize development in high-hazard beach front territories. There are various protection, amusement and community associations that approach neighborhood government authorities to unit with their endeavors and be the delegate to set up a bound together and composed government administration for sea and seaside asset. A prompt activity is the main plan of action to spare our seas. The time has come to refresh sea and waterfront arrangements to forestall proceeded with crumbling and indifferent pulverization of a basic characteristic asset. An article distributed in the New York Times on March 17, 2010 revealed state lawmakers’ closer checking of people who were found to have past records of manhandling creatures. The report showed that there is â€Å"growing proof that individuals who misuse creatures frequently proceed to assault people, states are expanding the punishments for creature pitilessness and growing better strategies for following

Process Design Matrix and Summary Essay Example for Free

Procedure Design Matrix and Summary Essay This procedure structure lattice and official outline will concentrate on Chapman Tool and Manufacturing and there execution estimation process. This official rundown is required for Chapman Manufacturing because of their absence of procedure execution the executives that will incorporate help draws near, that comprise of creation line, self-administration, and individual consideration draws near. This outline will likewise cover item approaches for their procedure execution estimations that comprise of, cluster sequential construction system and ceaseless stream draws near. This official rundown of procedure execution estimation will quantitatively reveal to Chapman Manufacturing something significant about their items, administrations, and any of the procedures that produce them. To finish up this outline, this instrument will help Chapman Manufacturing comprehend, oversee, and improve the company’s forms. To start, the primary assistance approach for Chapman’s process execution the board comprise of creation line way to deal with improve the company’s execution proficiently and adequately. â€Å"Performance the executives implies tending to any presentation issues, which means criticism for execution that isn't acceptable with method just as adulating representatives for an occupation well done.† (Mayhew, R. 2013) Chapman begins with every representative getting their presentation document that incorporates their consistency, viability, and proficiency for their advancement for progress and advancements. These exhibition estimations, that incorporates their 10-15 machines of creation line draws near. There will be a choice on running their machine to run immaculate parts or to cause changes however along these lines they to have it recorded and roll out the improvements varying. The subsequent help approach for the procedure execution estimation plan comprises of, a self-administration approach. Chapman Tool and Manufacturing will execute EMC2 counseling administrations with HR and afterward the board to guarantee that each action gives important worth. (EMC2, 2013). At Chapman there are a lotâ of divided procedures that can be evaded so monetarily and HR are not depleted and lessen any odds of staying aware of changing markets and client request. There are self-administration approaches in this change for the procedure execution the board plan for each representative (machine administrators etc†¦) that incorporate, â€Å"Streamline procedures to speed up new item presentation, Standardize, coordinate, and improve existing procedures, Structure and actualize new procedures, Reproduce and model procedures for administrators, Characterize process metric and execution the executives strategies.†(EMC2 , 2013). The third assistance approaches for the procedure execution the board plan comprise of individual consideration approach. Chapman should actualize the individual consideration approach that will incorporate explicit abilities that will best be resolved through a vocation examination process. Capabilities that will be remembered for this individual consideration work investigation approach will comprise of, Accountability and trustworthiness Adaptability and adaptability Supporting causes Examination and thinking Tender loving care Business arrangement Instructing and coaching Inventive and creative reasoning Client center Dynamic and judgment These competency capacities are to decide each employee’s execution record and reported with valuable analysis and applause to getting fruitful with and for the organization. Chapman additionally needs to actualize item approaches for their procedure execution the board plan. The main item approach that will be executed is known as a bunch approach. A group approach can be known as a lean assembling process likewise and focus’s on request based stream fabricating. â€Å"This sort of creation setting, stock is gotten through every creation community when it isâ needed to meet creation arranges; this will convey the advantages of, Decreased process duration Less stock Expanded efficiency Expanded capital gear utilization.† (Wiki, 2013) The subsequent item approach for Chapman’s process execution the board plans comprise of, mechanical production system approach. By Chapman actualizing the mechanical production system approach, will keep all administrators in the same spot and get item sent to the following division for the gathering of the item being assembled. At that point at long last are sent to the last division to be examined and delivered. Having various offices for the procedures of the item, and having a sequential construction system approach for each progression will keep the company’s association on line for their presentation the board. The third item approach for Chapman’s process execution the executives plans comprise of, a persistent stream approach. The persistent stream approach are actualized through the â€Å"lean building blocks†, as, â€Å"Five S: Aims to bring organization, orderliness , and neatness to tasks , Visual controls: All tooling parts and other creatio n exercises are kept unmistakably in view to assist everybody with understanding the status of the procedure initially. Poka-Yoke: Mistake Proofing. Procedure structures can be changed to commit it almost unimaginable for errors, spills, spills, and different procedure upsets to happen. By executing these procedures and others will maintain the constant stream approach for the procedure execution the executives plan for Chapman Manufacturing. All in all, the procedure structure network and official synopsis was centered around Chapman Tool and Manufacturing and what their presentation estimation process involved. The official outline was required for Chapman Manufacturing because of their absence of procedure execution the executives that was remembered for these administration moves toward that comprised of creation line, self-administration, and individual consideration draws near. The synopsis additionally secured item approaches for their procedure execution estimations that comprised of, group, sequential construction system, and consistent stream draws near. The official outline that involved their procedure execution estimations will quantitatively disclose to Chapman Manufacturing something significant about their items, administrations, and any of the procedures thatâ produced them. To close this outline, this device will guarantee that Chapman Manufacturing comprehends, oversees, and improves the company’s forms for their future business and benefits. References EMC2, (2013). Business process the board. Recovered on January 2, 2013 from http://www.emc.com/counseling administrations/application/aptitude/business-process-the executives bpm.htm Lean Manufacturing (2013). Wikipedia. Recovered on January 2, 2013 from http://en.wikipedia.org/wiki/Lean_manufacturing Mayhew, R. (2013). Improvement of a worker execution plan. Recovered on January 3, 2013 from http://smallbusiness.chron.com/advancement worker execution plan-1942.html

MIT Round 2

MIT Round 2 So I think that the goal was that this post be filled with wisdom and enlightenment from the generations gone by, ready to fill eager young minds with the knowledge that life after MIT is filled with rainbows, unicorns (and maybe some engineering problems). While I can’t say that I’ve personally seen the unicorns (sly little creatures), the two years since I graduated from MIT have been filled with some great experiences. In the end though, I have found myself, well, back at MIT. Granted, it has kind of been an around the world experience, but in the end, I just couldn’t stay away. I write to you now from Frankfurt, Germany, with the title of “MIT Grad Student”. I start my second year of a dual degree program in transportation and city planning in a few weeks. I am rushing to finish up my projects here in Germany, before heading off to visit an MIT friend of mine serving in the Peace Corps in Albania (MIT kids do cool things) before heading back to Cambridge for a quick apartment move before the start of classes. Whew. When I made the decision to come back to MIT for grad school, I worried about what the experience would be like to spend two (though that has since extended to maybe three) more years at the Institvte. If you were to talk to my friends or family, they would say that I am always on the move, always trying to figure out where the next place I can go is. In the past two years, I have been to: the Netherlands, Belgium, Germany, Spain, Iceland, Singapore, Malaysia, Sri Lanka, Australia, India, Brazil and Argentina. If you look back at my blogging archives, you’ll see a lot of my posts are talk about travel. So why did I come back? Adventures Well the story starts a while back, during my junior year. The short version is that after a summer spent questioning my major, I decided to explore a new area and took a class simply titled “Urban Transportation Planning”. Not to be dramatic or anything, but this class changed the course of my life and set me on a path to learn more about transportation, cities and how they intersect to impact individual’s quality of life. It was during this class that I met a group of graduate students that I had never interacted with before: the people of the transportation and urban planning degrees. As I learned more about the field and learned how small of a world it really is, I also learned that to learn what I wanted to learn in transportation, there weren’t very many options. In the end, it was really boiling down to MIT and Berkeley. So some more time passed, and as I was writing my applications for graduate school, fellowships and real jobs, I came to the decision that if graduate school was going to be inevitable, I may as well go sooner rather than later. For perhaps shaking reasons involving not wanting to move to California (there were others too!), I decided that I would sign on for graduate school at MIT. My sooner rather than later decision came on the heels of deciding on MIT. One of the dangers of staying in the same place for grad school is having a harder time transitioning from an undergrad mentality to a grad student mentality. Another was just simply burning out. Finishing up undergrad was the end of an era, and I knew I needed a break before coming back and diving in. So I submitted my deferral forms, and decided to turn the year into a working adventure. I found an internship in India, figured out how to do a stopover on the way for a friend’s recital in the Netherlands, and two days after graduation, I was off! Stepping onto my soapbox for a second, I highly advocate taking time off if you need to, and definitely am an advocate for international travel. Taking time off might be before college, during college, or before grad school. Seeing the world (even if it just a different side of your own city) teaches so many things that you can never learn in school, even at a place like MIT. MIT has awesome opportunities for going abroad, and even though it seems like there are a million once-in-a-lifetime experiences to be had in Cambridge, I promise you there are incredible ones out in the world. Okay, back to talking about myself… I knew that I wanted to work in my field during my year off. In India, I worked for a think tank doing research on motorcycles for the six months after graduation. I eventually found another internship in Brazil doing transportation modeling for the six months before grad school started (though a friend I ran into at a conference â€" “networking: it makes the world go round”). In between, I was able to visit family in Singapore and Australia, and spend some time with friends in Cambridge. India: a land of many colors Getting these work experiences has been helpful in continuing to navigate the question of “what do I want to do with my life”. For instance, I have come to recognize that while modeling is an important vocation, it is not for me. I loved my time in Brazil, but learning that TransCAD and I are maybe not meant to get along very well was a very valuable life lesson. When I came back to school, I had two more very different working experiences under my belt, had learned a new language (alguém fala português?), learned to ride a motorcycle and Indian trains, got to reconnect with family I had not seen in a very long time, and just generally was ready to go back to school. Being back in school, in the same building that I had most of my classes during undergrad in, taking classes from some of the same professors, I wasn’t sure what to expect. But what I found from MIT: Round 2 has been completely different, in a very good way. My program is pretty small, and we have become a close-knit group. We have bonded over shared pset and research woes, and still found time for adventures. I have tried new activities and done my best to explain what MIT undergrad culture is like to those coming from the outside. I have learned that grad students coming into MIT have a completely different perspective on what it is like. The undergraduate world at MIT is really a unique and special place, and the culture is something that many grad students miss out on. So cherish it while you can. For me, I don’t anticipate staying in the area after my second graduation, but I have discovered another side of MIT and Cambridge (and Somerville). I realized I am still not done taking advantage of what MIT has to offer, and though I will still continue to look for ways to leave, MIT has definitely become my home over the past six years. Okay, well that may have ended on a bit of a nostalgic note, but I am looking forward to coming back in just under a month. I have been enjoying my time in Germany, though the last couple of weeks of work are looking a little daunting! I have a few more adventures up my sleeve, but am excited to have signed on for another year of MIT. So enjoy the 10 year blog-iversary (I remember when I first discovered MIT and the blogs in their infancy!), take advantage of any awesome opportunities that come your way, and enjoy the rest of your summer (or winter, I suppose if you are in the other hemisphere).

Pros and Cons of Part-Time MBA Programs

There are many different types of MBA programs - from part-time and full-time programs to accelerated and dual programs. A part-time MBA program is designed primarily for students who are only able to attend class part-time. It is important to understand that the words part-time dont mean barely any time. If you commit to a part-time program, you will still need to make a significant time commitment to school - even if you dont have to attend class every single day. It is not unusual for part-time students to spend more than three to four hours each day on MBA schoolwork and activities. Part-time MBA programs are popular. More than half of all MBA students attend school part-time, according to a recent study from the Association to Advance Collegiate Schools of Business  (AACSB). But that doesnt mean that part-time study is for everyone. Before you commit yourself to earning your degree through part-time study, you should be aware of all of the pros and cons of part-time MBA programs. Pros of Part-Time MBA Programs There are many advantages to studying part-time. Some of the biggest pros of part-time MBA programs include: Part-time MBA programs are more flexible for working professionals; classes are usually scheduled outside normal business hours.Some part-time MBA programs require fewer course credits than their full-time counterparts.Part-time programs are typically favored by employers who offer  tuition reimbursement.Many part-time MBA programs schedule courses all year long.Part-time programs tend to cause less strain financially because tuition is sometimes cheaper.Part-time MBA students can apply what they learn as they learn it.There are many high-quality part-time MBA programs inside and outside the United States. Read more about the best part-time MBA programs. Cons of Part-Time MBA Programs Although there are advantages to part-time MBA programs, there are drawbacks as well. The biggest cons of part-time MBA programs include: Not every school offers a part-time MBA program, which means you may not be able to attend your first school of choice.Some part-time programs offer fewer course selections than their full-time counterparts.Part-time programs require fewer class hours each week but sometimes take as long as two to five years to complete.Credits that are earned through a part-time MBA program are not always transferable to other programs.Many part-time MBA programs schedule courses all year long.Working while you earn your part-time MBA can be exhausting - especially if it will take you more than two years to earn your degree.Not all part-time MBA programs offer a study abroad option or international experience, which is increasingly valuable in todays global business world. Should You Study Part-Time? Part-time programs may be the perfect solution for students who want to work while they earn their degree, but they arent for everyone. Be sure to take time to evaluate all of your business degree program options, including accelerated MBA programs, specialized masters programs, and executive MBA programs, before you commit yourself to any one program option.

Developing A Credit Scoring Model - 2203 Words

INTRODUCTION The dataset used for the project is the German credit dataset that consists of customers’ financial and credit information and the resulting classification of customers as â€Å"good† or â€Å"bad† credit risks. This is a well-known publicly available dataset containing observations on 20 variables of 1000 past applicants of which 700 are classified as â€Å"good† credit risk and 300 are classified as â€Å"bad† credit risk. This report lists the detailed steps involved in developing a credit scoring model that can be used to determine if a new applicant is a good credit risk or a bad one, based on their predictor variables. Tools Used: SAS Enterprise Miner 4.3 IBM SPSS Statistics 22 Modeling Techniques Used: Decision Tree DATA PREPARATION AND EXPLORATION The modeling process incorporated in this project is based on the Enterprise Miner SEMMA methodology which stands for Sampling, Exploring, Modifying, Modeling, and Assessing data. The goal of this project is to develop a credit score model that can be used as a prediction model for any prospective customers. Hence, the next step was to prepare the collected data. The German credit score dataset was provided in a comma separated values (.csv) format. When the dataset was opened through MS Excel, the values of the variables were displayed as numbers without any logical understanding of what they meant. A screen shot of the data viewed through Excel is provided in Figure 1. The description of the data was provided separately (SeeShow MoreRelatedThe Financial Crisis Of The Subprime Mortgage Crisis2261 Words   |  10 Pagesput financial institutions at the centre of harsh debate and massive critism,†¦Ã¢â‚¬ ¦banks had gradually relaxed their screening and monitoring standards before the crisis, especially in the US subprime mortgage market. Then, they sharply curtailed new credit and forced ï ¬ rms to reduce their investments, hence propagating the financial crisis to the real economy,† (J.Godlewski, 2013, p1). The financial crisis which has been mentioned is the financial crisis occurred in 2008. Majority of consumers, companiesRead MoreTypes Of Collateral Used For Business Lending1474 Words   |  6 Pagespersonal and bank guarantees. When banks across developed and developing countries are compared, it was observed that developed countries rank real estate as the most important type of collateral more frequently than the developing countries. About 56% of the developed country banks rank real estate as the most important collateral type for business lending to small firms compared to only 37 % of the developing country banks. In case of developing countries, the banks consider a higher variety of collateralsRead MoreDevelopment Of Rad Tokens983 Words   |  4 Pagesfacilitate the development of our p2p lending platform and a line of credit products. What is RAD token? RAD token is issued to fund the development of RAD Lending Platform and a family of credit products built on it. RAD Lending platform is based on a concept of peer-to-peer (p2p) lending with credit products secured by borrower’s crypto assets. †¢ A family of credit products will start with: †¢ RAD credit card with grace period and a credit limit secured by borrower’s crypto assets †¢ Personal loan securedRead MoreData Mining in Banking Industry2778 Words   |  12 Pagesthe financial behavior before and by the time the client was given the credit. The bank clients are classified into four classes. The first class clients contain all those clients who pay back the bank credit without any problems. The second class clients contain all those clients who pay back the bank credit with little problems here and there. The third class clients contain all those clients who should only get a bank credit after detailed checks because substantial problems occurred in the pastRead MoreEvaluation And Applied Research Methods1068 Words   |  5 Pageshealth programs could be evaluated. Webb (1975) proposed an objective scoring system that enables individual programs to evaluate their capabilities objectively in relation to a realistic, albeit theoretical, model occupational health program. In order to evaluate a program’s capability to fulfill its mission and c ommitment to short range and long range health interests of its employees, Webb (1975) illustrated that having a scoring system in which weights were assigned to different components of aRead More Data Mining in a Nut Shell Essay1701 Words   |  7 Pagespre-process the data† (SAS Institute). There are several different types of models and algorithms used to â€Å"mine† the data. These include, but are not limited to, neural networks, decision trees, rule induction, boosting, and genetic algorithms. Neural networks are physical cellular systems which can acquire, store, and utilize experiential knowledge (Zurada). Neural networks offer a way to efficiently model large and complex problems. Decision trees are diagrams used for making decisionsRead MorePestel Factors Affecting Credit Card Industry1422 Words   |  6 PagesThe political and legal environment In the aftermath of the credit crisis, governments and regulators are strengthening consumer protections and promoting the concept of responsible lending; new developments are being made with the customer’s interests in mind, ensuring that the customer is in control of their own finances,. The Consumer Credit Act section 75 provides added protection to consumers, offered for transactions over  £100. It is notable that higher earners, are among the financially savvyRead MoreA Report on Sme Financing in India3287 Words   |  14 Pagestheir service of SMEs is a major factor in increasing SME access to finance. Although, numerous issues surface when it comes to SME lending, banks, by employing a range of measures, such as risk adjusted pricing, credit scoring models, and SME-tailored non-lending products are developing ways to mitigate risks, lower costs, and increase the overall benefit accrued from SME banking. Question 1: Why Banks should lend to SMEs? SME banking is an industry in transition. From a market that was consideredRead MoreThe Dictionary Of Banking And Finance1471 Words   |  6 Pagesto include a critical place in the field of money related administrations in India in the changed period. This field of money related administrations could turn out to be more imperative in the years to come. The always expanding modernity and developing of the monetary markets from one viewpoint, and the quick changing corporate scene from a defensive foundation to a globalized commercial center on the other, would prompt more unpredictable corporate exchanges and hence, the part of speculationRead MoreIntroduction. Predictive Analytics Is Quantitative Analysis1371 Words   |  6 Pages costs, headcount, metrics; customer churn; credit scoring; cross sell / up sell opportunities; market campaign response; anomalies, fraud. SAP Predictive Analytics is business intelligence software from SAP that is designed to enable organizations to analyze large data sets and predict future outcomes and behaviors. For example, SAP Predictive Analytics can help make sense of big data and the Internet of Things by building predictive analytics models to identify unforeseen opportunities, better

Ban Cell Phones While Driving Free Essays

Ban Cell Phones While Driving Almost every American has one. Some people use them strictly for business while others strictly for leisure. Most of us use them for both. We will write a custom essay sample on Ban Cell Phones While Driving or any similar topic only for you Order Now They are always at our side ready to be answered, receive text messages, check email, or update our Facebook status. Cellphones have almost become a necessity in society. People regularly engage in a wide variety of multitasking activities when they are behind the wheel. Data from the 2000 U. S. census indicates that drivers spend an average of 25. min each day commuting to work, and there is a growing interest in trying to make the time spent on the roadway more productive (Reschovsky, 2004). Unfortunately, this leads to drivers being distracted on the road. I was a victim of an accident caused by a distracted driver on the telephone. I was in a parking lot about to park and a woman backed into me while she was talking on the phone. She profusely apologized and said she didn’t see me. It wasn’t that she couldn’t see me; she wasn’t paying attention because she was on the phone. Luckily, no one was hurt and there was minimal damage to my car. It’s just annoying and disheartening that people can be so careless. Cellphone use while driving needs to be banned in order to protect drivers and pedestrians alike. This isn’t just my personal opinion on the matter. The National Transportation Safety Board (NTSB) recommends that states to  ban drivers from any non-emergency use of cell phones and other electronic devices that aren’t built into their automobile (Alhers, 2011). It also called on wireless companies to create technology that would â€Å"disable the functions of these portable electronic devices within reach of the driver when a vehicle is in motion† (Alhers, 2011). The recommendation came out of an investigation of a 2010 pickup truck-school bus pileup in Missouri last year that killed two people and injured 35. The investigation found that the pickup driver who caused the accident sent 11 text messages in the 11 minutes leading up to the accident, including some just before impact. The NTSB lacks the authority to impose regulations, but its safety recommendations are highly regarded and have led to many state and federal laws and regulations (NTSB 2011). On Oct. , 2009, President Barack Obama issued an executive order banning the use of text messaging while driving for federal government employees on official business or while using government-supplied equipment. He said, â€Å"text messaging causes drivers to take their eyes off the road and at least one hand off the steering wheel, endangering both themselves and others† (Obama, 2009). Texting while driving is banned in 37 states and the District of Columbia. 30 states ban all cell ph one use for beginning drivers. Ten states prohibit all hand-held cell phone use while driving; however, no states currently ban the use of hands-free phones while driving. Most people don’t put Bluetooth or Sync in their cars anyway because it’s too expensive. Talking on the phone, hands-free or not, puts the driver’s focus on the conversation and not what is going on around them. It’s impossible to accurately gauge how many car accidents nationwide are cell-phone related, but according to the Department of Transportation, distracted driving killed 3,092 people in the United States in 2010. David L. Strayer, a professor in the Department of Psychology at the University of Utah, stated the following in their Summer 2006 study comparing cell-phone use and intoxication while driving: It is now well established that cell phone use impairs the driving performance of younger adults. For example, drivers are more likely to miss critical traffic signals (traffic lights, a vehicle braking in front of the driver, etc. ), slower to respond to the signals that they do detect, and more likely to be involved in rear-end collisions when they are conversing on a cell phone. In addition, even when participants direct their gaze at objects in the driving environment, they often fail to ‘see’ them when they are talking on a cell phone because attention has been directed away from the external environment and toward an internal, cognitive context associated with the phone conversation†¦ (p. 382) Strayer and his colleagues, with respect to traffic safety, found that the impairments associated with cell phone drivers may be as great as those commonly observed with intoxicated drivers. The National Highway Traffic Safety Administration (NHTSA) and the Ad Council have launched the new Stop the Texts. Stop the Wrecks. This is a public service advertising public service announcement campaign nationwide. All of the PSAs direct audiences to StopTextsStopWrecks. org, a new campaign website where teens and young adults can find facts about the impact of texting while driving, and tips for how to curb the behavior. The website also has an area where individuals can post and share their solutions to stop texting and driving on Facebook. The NHTSA also reported that pilot projects in Syracuse, New York, and Hartford, Connecticut, produced significant reductions in distracted driving by combining stepped-up ticketing with these high-profile public education campaigns. Before and after each enforcement wave, NHTSA researchers observed cellphone use by drivers and conducted surveys at drivers license offices in the two cities. They found that in Syracuse, hand-held cellphone use and texting declined by a third. In Hartford, there was a 57 percent drop in hand-held phone use, and texting behind the wheel dropped by nearly three-quarters (Wellenbach, 2011). There are many arguments against banning cell phone use infringes on the personal rights of motorists. Receiving a cell phone traffic ticket may negatively reflect on your driver record and can increase your insurance premiums. Those opposed to the ban feel it’s impossible to enforce because a police officer can mistake a driver for texting someone when they are really changing a song on their MP3 player. Another counterargument is that holding a conversation on a cell phone while driving is no more distracting than being engaged with a passenger or rowdy kids in the back seat, eating fast food or messing around with the radio. Motorists know that using a cell phone while driving is distracting and should refrain from doing so. Another argument against banning cell phones is the use of Global Positioning Systems (GPS). Most GPS’s displays three-dimensional renderings of virtual surroundings. At least 10 states that ban texting while driving offer some type of service that allows motorists to get information about traffic tie-ups, road conditions or emergencies via Twitter (DeMillo, 2009). There is also an argument to implement hands free devices in all motor vehicles. Enforcing such advanced technology to be built would be extremely expensive. This technology, built-in speaker phones or no use of cell phone if driving over 30 miles per hour is not cheap. It is not cheap for the manufacturers or for the customers. The average prices of cars would rise, and if there are be technical errors, it would cost more to repair the car. Assume that the United States did enforce this law upon manufacturers in their country. What if someone drove to the United States from neighbor countries, where cars are not equipped with this technology? Should those drivers from the neighbor countries, then, be allowed to use cell phones? No. The best thing to do is having a strict law, banning cellphone while driving until such advanced equipment in cars becomes basic technology, and fairly priced. In a survey I conducted revealed that 80% of drivers between the ages of 16 to 24 use a cell phone while driving. 90% percent of 16 to 24 year olds have been on the road and noticed drivers swerving and talking/texting on the phone while driving. My research indicates that only 20% of drivers 55 and over admitted they use a cell phone while driving. This shows that younger people are more at risk to be involved in some sort of collision or accident. The last question of the survey was have you ever been at a red light and have someone honked at you while you were at a red light looking at phone? Even though the survey was anonymous I don’t think people wanted to admit that this has happened to them. Only 40% of all who took the survey answered yes to this question. I think if had a larger survey pool my information would have supported my argument further. Here is a graph of the results of the question Have you used a cell phone while driving: Several technology start-ups will release new products for phones that can detect when a car is in motion and automatically log incoming calls and texts much as a personal assistant would. All the products have provisions that allow both incoming and outgoing calls during emergencies. The following products are services available to reduce driver distraction. The first one is Key2SafeDriving. Parents can set up a password-protected profile that won’t allow calls or texts when a Bluetooth device detects that the car is in motion. Next, there is Aegis Mobility Drive Assist. This is downloaded software will use a phone’s GPS to determine whether it is in a moving vehicle, then log incoming calls and texts, and respond with a message that you’re driving. And finally the least restrictive of these three products, ZoomSafer, is downloadable software that lets you dictate text messages and updates to social-networking sites while you’re driving (Cruz 2009). This is similar to the talk-to-text program that my Droid phone has. I have tried to use it while driving and it hasn’t been too successful. I have to push a button that records what I want to say and then â€Å"listens. The majority of the time the words are totally wrong and I’m more distracted because I have to go back and delete everything. I know technology will evolve and create a safe way to communicate while operating a vehicle. The evidence from studies showing the negative effects of cellphone use while driving is overwhelming. People need to be less concerned with emails, social networks, and texting and be more focused on the road. There is no simple solution to get everyone to agree or follow the rules if such as ban was put into action. It will take a long time to give up their right of cellphone privileges, but the outcome is worth the sacrifice. References Ahlers, Mike. (2011, December 13). NTSB recommends full ban on use of cell phones while driving. Cable News Network. Retrieved from http://articles. cnn. com/2011-12-13/us/us_ntsb-c ell-phone-ban_1_smart-phones-texting-pickup-truck-driver? _s=PM:US Cruz, Gilbert. (2009, August 24). Distracted Driving: Should Talking, Texting Be Banned? Time Magazine. Retrieved from http://www. time. com/time/magazine/article/0,9171,1916291-1,00. html DeMillo, A. (2009, Sept 19). Mixed Messages on Texting and Driving. Retrieved from Associated Press and Fox News website: http://www. foxnews. com/us/2009/09/19/states-send-mixed-message-texting-driving/ National Transportation Safety Board. (2011). No call, no text, no update behind the wheel: NTSB calls for nationwide ban on PEDs while driving [Press release]. Retrieved from http://www. ntsb. gov/news/2011/111213. html Obama, Barack. (2009, October 1). Executive Order 15313. Retrieved from http://www. whitehouse. gov/the-press-office/executive-order-federal-leadership-reducing-text-messaging-while-driving Strayer, D. L. amp; Drews, F. A. (2006). A Comparison of the Cell Phone Driver and the Drunk Driver Vol. 48, No. 2, pp. 381–391. Reschovsky, C. (2004). Journey to work: 2000, Census 2000 brief. Retrieved May 19, 2012 from http://www. census. gov/prod/2004pubs/c2kbr-33. pdf Wellenbach, P. (2011, Dec. 8) More American drivers are texting while driving despite additional legal measures. New York Daily News. Retrieved from http://www. nydailynews. com/news/national/american-drivers-texting-driving-additional-legal-measures-article-1. 988991#commentpostform How to cite Ban Cell Phones While Driving, Papers

Accounting Theory & Issues Bio-Sustainable Feeds (BSF) Ltd

Question: Describe about the Accounting Theory Issues for Bio-Sustainable Feeds (BSF) Ltd . Answer: Introduction In the recent years, the focus of the organizations on the research and development activities has been more than ever before. The organizations are spending a lot of money on researching new products and finding new ways of doing business. The primary objective of undertaking a research is to explore something new and unique that the other organizations do not have (ACCA, 2016). The benefits of the research are not one time; the organization is benefited over the number of years. For the accounting purposes, it is an issue that the benefits of the research accrue over the number of periods. Due to the accrual of the benefits over the number of periods, the expenses incurred on the research and development activities are not immediately written off in the income statement. Thus, it becomes necessary for the organizations to capitalize the appropriate proportion of the research and development expenses and recognize that as an asset in the books of accounts (Weygandt, Kimmel, and Kies o, 2009). In the above context, a report has been presented here that focuses on the accounting treatment of the research and development expenses incurred by Bio-sustainable Feeds (BSF) Ltd, which is a company engaged in the research and development activities in Australia. Further, the report also covers the impact of the research being undertaken by the company on the society. Additionally, the report also covers the valuation of patent of Bio-sustainable Feeds (BSF) Ltd, along with the discussion on critical issues in relation to such valuation. The Nature of the Research being done by BSF Ltd and Its Value to the Society In the current case study, Bio-sustainable Feeds (BSF) Ltd is a company listed on the Australia Stock Exchange (ASX). The company undertakes the researches in the field of Bio-technology and currently it is engaged in researching sustainable aqua culture feeds. The research on the plant based feed is under process, which involves exploration of the fish feed material that is to be produced using the plants such as canola, corn, soya-bean and sunflower. This research involves a total resource outlay of approximately $360 million AUD and till now the company has incurred $120 million AUD on this research. Through this research, the company is endeavored to find out the fish feed material that is more energetic and powerful. The plant based fish feed involves diversion of 30 kg material in producing 1 kg high value fish. Though, the research on the plant based fish feed was taken up with the primary purpose of reducing the problems with the fish based feed, however, it could not happen. The problems got even more severe as the fish dying rate increased from 1/20th to 1/3rd from the use of plant based fish feed. Further, the environmentalists also alleged that the plant based fish feed is causing miss-utilization of the good quality human food. The environmentalists alleged that putting 30 kg of human food in producing 1 kg high value fish is not justifiable. The consumption of the human food in the production of fishes would get increased at a large scale if the plant based fish feed is used. This situation is expected to affect the poor people of the society adversely as they would not be able to get the good quality food. Further, the plant based fish feed would eliminate the use of small fishes in production of the high value fishes, which is also not favorable for the society (Lichfield, 2005). The poor people of the society, who earn their livelihood by capturing and selling small fishes to the big production houses, will lose 3that opportunity after implementation of the plant based fish feed. Further, it is also alleged by the environmentalists that this research is expected to make poor the poorer and rich the richer. This way, the research will cause imbalance in the society and economy. Thus, the impact of the plant based research being undertaken by the company on the society is evaluated to be negative (McGee, 2012). However, the company has responded to the concerns of the environmentalists positively by stopping the pant based fish feed research. The company has now undertaken a research, which will explore the bacteria based fish feed. In this research, the company is finding a new fish feed that will be produced using bacteria, thus, it will eliminate the need for consumption of the good quality human food in feeding fishes. In the bacteria based fish feed, the company will use dumps, sewage, food processing plants. Problems with the Early Research Done by BSF Ltd The early research conducted to explore the plant based fish feed was alleged to be adversely affecting the society and the environment. The environmentalists accused that the plant based fish feed is as bad as the fish based feed was, thus, there is no additional benefit emanating from the use of food based fish feed. The major problem with the plant based fish feed was the increase in the dying rate of the fishes. The use of plant based fish feed increased the dying rate of the fishes from 1/20th to 1/3rd of the total fishes being produced. The increased dying rate of the fishes was the huge loss to the fish producers and thus, this research could not sustain. Further, the consumption of the good quality human food in producing the plant based fish feed was also very high, which increased the problems of the poor people of the society. The human food, which should have been reached to the people, was now being diverted to the production of fish feed. Research and Development: Nature, Differences, and Accounting Treatment The research and development activities and innovations have become the corner stone of the strategy formulation for the organizations (Harris Trainor, 2009). In the present era, the firms are concentrating more on gaining the competitive advantages through exploring new products and finding out new ways of running the business. The competition is so stiff that the firms need to endeavor continuously to adopt new things and maintain uniqueness in the operations to survive. Thus, the research and development activities are critical to maintain sustainability of the business operations in this cut throat competition (Harris Trainor, 2009). For accounting purposes, the research and development activities are divided into separate segments or phases. The separation of the research and development activities is necessary to identify the revenue and capital nature of the expenses incurred on the research. The accounting standard 1011 provides the description and the definitions of the activities that are to be included in the research and development (AASB 1011, 1987). As per the accounting standard, the research and development implies a work carried out to acquire new knowledge, developing a new product, or finding out a new process design. The major element in the research and development activities is the involvement of the innovation and technology (AASB 1011, 1987). The research activities are the preliminary activities performed in relation to any research undertaken by an entity. These activities are performed in the initial phase of the entire research program. The research activities are preliminary and as basic that on completion of these activities, the entity can not be sure of getting an intangible asset developed. Thus, for recognition of the intangible assets in the books of accounts, the entity needs to complete the activities of the development phase (AASB 1011, 1987). The development activities are taken up upon completion of the research activities, which are basic and necessary. The accounting standard bifurcate the research activities into two parts such as basic and applied research activities. The basic research is conducted by an entity for the advancement of the knowledge. Further, the basic research is undertaken by the entity without having fixed any aim or goal, thus, it may be in certain circumstances a never ending process. Due to this reason, the expenses incurred on the research activities in a basic research are always charged to the profit and loss account (AASB 1011, 1987). These expenses are never considered for deferral because the estimation of the future benefits associated with the expense being incurred can never be made reliably. The applied research is conducted with the predefined goals and thus, the outcome of the research is identifiable at the time of initiation of the research. However, it should be noted that though the outcome of the research is identifiable, but the probability of its achievement is not known. In order to consider the deferment of the cost incurred on the research and development activities, it is necessary to establish with the strong probability that the research outcome will be achieved (AASB 1011, 1987). Therefore, the expenses incurred on the research activities in the applied research are also generally charged to the profit and loss account unless the circumstances warrant otherwise. In regard to development activities, the accounting standard states that the same are undertaken to take the preliminary research findings to the next level and reach to the research outcome (AASB 1011, 1987). The activities performed in the development phase of the research are by nature indicative of the future benefits. As far as the research goes into the development phase, the likelihood to avail the future benefits by the entity increases. Therefore, the cost incurred on the development activities is considered for deferral and amortization in the books of accounts. The development cost is not charged to the profit and loss account as soon as it is incurred but it is accumulated and amortized in the proportion of the benefits of research received by the entity over the number of years (AASB 1011, 1987). Fair Market Value of Patent Patent gives intellectual property right to the holder to use the product or process in respect of which the patent has been registered. The benefits of patent are received by the holder in the form of revenues over the number of years, thus, it is essential to recognize it as asset in the books of accounts (AICPA, 2016). The patent is recognized as intangible asset in the books of accounts. The principles of accounting provide that the purchased patent is recognized as intangible asset in the books based in the amount paid to the seller. Thus, the recognition of the purchased patent does not give rise any issues, but the measurement of the internally generated patent is critical. The accounting principles require that the internally generated patent is recognized based on the costs incurred in developing the patent (De Vries, 2012). The initial recognition of the patent is made on cost basis; however, the entity may adopt the fair value based recognition of the patent later on. The fair value of the patent is determined based on the estimation of the amount that the entity would fetch by selling the patent in the open market. Alternative, the fair value of patent could also be ascertained by discounting the benefits expected to be received by the entity over the number of future periods (De Vries, 2012). In the case of Bio-sustainable Feeds (BSF) Ltd, the benefits to be received from the use of patent by the company have been given. Thus, the fair value of the patent in this case has been computed by discounting future benefits from the use of patent as follows: Year Cash Flows PVF@8% Present Value 1 - 0.93 - 2 700.00 0.86 600.14 3 200.00 0.79 158.77 4 200.00 0.74 147.01 5 200.00 0.68 136.12 6 200.00 0.63 126.03 7 200.00 0.58 116.70 8 200.00 0.54 108.05 9 200.00 0.50 100.05 10 200.00 0.46 92.64 Total 1,585.50 The fair value of patent is worked out to be $1585.50 million AUD for Bio-sustainable Feeds (BSF) Ltd. Journal Entries for RD Transactions and Explanation for Treatment of Grant Journal Entries for the RD Transactions From 2013 to 2016 Year Description Debit (AUD$ M) Credit (AUD$ M) 2013 Research and Development Expense 360.00 Cash 360.00 (Research expense on plant based fish feed paid) Profit and Loss Account 360.00 Research and Development Expense 360.00 (Research expense on plant based fish feed charged to profit and loss account) Cash 500.00 Government Grant 500.00 (Grant received from CSIRO) Government Grant 340.00 Profit and Loss Account 340.00 (Grant credited to profit and loss account to the extent of expenditure on research) 2014 Nil 2015 Nil 2016 Research and Development Expense 160.00 Cash 160.00 (Research expense on bacteria based fish feed paid) Profit and Loss Account 160.00 Research and Development Expense 160.00 (Research expense on bacteria based fish feed charged to profit and loss account) Government Grant 160.00 Profit and Loss Account 160.00 (Grant credited to profit and loss account to the extent of expenditure on research) Bio-sustainable Feeds (BSF) Ltd is engaged in the research and development operations for more than two decades. Currently, the company is undertaking a research for exploration of sustainable aqua-culture feeds. In relation to this research, the company has received grant amounting to $500 million AUD from CSIRO, a government agency. The grant was received in the year 2013 and till the end of the year 2016 the company has expensed an amount of $520 million AUD ($360+$160 million AUD). The accounting treatment in respect of the government grant is prescribed in the AASB 120 issued by the Australian Accounting Standard Board (AASB 120, 2009). As per the relevant provisions, the government grant is credited to the profit and loss account to the extent the cost incurred on the research and development activities has been charged to the profit and loss account. Further, if the development cost is deferred, the grant received is deducted from the carrying amount of the deferred costs of r esearch and development. In the case of Bio-sustainable Feeds (BSF) Ltd, the grant was received by the company in the year 2013 for an amount of $500 million AUD, but the cost incurred on research activities out this amount was $340 million AUD, therefore, only $340 million AUD of the total amount received as grant has been credited to the profit and loss account. In the years 2014 and 2015, the company did not incur any cost on the research and development activities, thus, nothing has been credited to the profit and loss account from the government grant account. In the year 2016, the company started a new research for exploration of bacteria based fish feed and incurred $160 million AUD. Against this cost, an equivalent amount of $160 million AUD has been credited to the profit and loss account in the year 2016. It has been observed that the company has not yet undertaken the development activities in relation to the bacteria based research. Therefore, the entire cost incurred on the research has been charged to the profit and loss account. In respect of the bacteria based fish feed research, the company estimates to incur an amount of $200 million AUD in the upcoming years. Thus, as the company has not incurred cost on the development phase yet, no intangible asset like patent can be recognized in the books of accounts. Therefore, the value of patent in the books of Bio-sustainable Feeds (BSF) Ltd should be nil. Evaluation of the Managements Assertion Made in the Prospectus in Regard to Patent The management of Bio-sustainable Feeds (BSF) Ltd has asserted in the prospectus that company holds exclusive control over the bacteria based feeds technology. As an accountant of the company, it is essential to determine the fairness of the assertion made by the management in the prospectus. The valuation, measurement, and recognition of the intangible assets are the sensitive matters and require the proper and adequate consideration of the accounting principles. In respect of internally generated intangibles, the accounting principles state that an entity can not recognize patent (or other intangibles) in the books of accounts until the development activities has been initiated (Bragg, 2011). Further, it is necessary to ensure that the value of the intangible can be measured reliably and with required precision. In the case of BSF Ltd, it has been observed that the previous research conducted to explore the plant based fish feed has been found to be worthless. Thus, the expenditure incurred by the company on this research can not be capitalized in the books of accounts. On this research, the company y incurred $360 million AUD, which all have to be charged to the profit and loss account. After stopping further activities on this research, the company imitated a new research, which was to explore the bacteria based fish feed. In respect of this research, it has been observed that the company has incurred $160 million AUD on the research activities till the end of the accounting year 2016. The development activities on this are yet to start and the company estimates an amount of $200 million AUD to incur in the upcoming years. The provisions of the AASB 1011 require that the substantial part of the development activities in respect of a research should be completed before considering the same for recognition in the books of accounts as intangible asset (AASB 1011, 2016). Thus, Bio-sustainable Feeds (BSF) Ltd could hold or control the intangible asset like patent in respect of bacteria based research only when the research is substantially completed. Taking into account the provisions of the accounting standard, it could be inferred that Bio-sustainable Feeds (BSF) Ltd does not hold control over the bacteria based fish feed technology as yet. The expenditure incurred on the bacteria based research by the company does not meet the criteria for recognition in the books as patent. Therefore, the assertion made by the management in the prospectus that the company holds exclusive control over bacteria based feed technology appears to be grossly wrong. Summary The report presented here deals with the accounting treatment of the research and development expenditure incurred by Bio-sustainable Feeds (BSF) Ltd. The company is engaged in research and development operations for exploration of the sustainable aqua-culture feeds. This report addresses various issues pertaining to the accounting treatment of the research and development expenditure and suggests criteria to the management of the company to identify the revenue and capital part of the research and development expenditure. Further, the report also covers the accounting treatment of the government grant received in connection with the research operations. Apart from this, the report also covers the valuation, measurement, and recognition of the patent. References Weygandt, J.J., Kimmel, P.D., and Kieso, D.E. (2009). Financial Accounting. John Wiley Sons. Lichfield, N. (2005). Community impact evaluation: principles and practice. Routledge. McGee, J.P. (2012). Best practices in assessment of research and development organizations: summary of a workshop. National Academies Press. Harris, R. Trainor, M. (2009). Why Do Some Firms Undertake RD Whereas Others Do Not? Retrieved September 16, 2016, from https://www.spatialeconomics.ac.uk/textonly/serc/publications/download/sercdp0020.pdf AASB 1011. 1987. Accounting for Research and Development Costs. Retrieved September 17, 2016, from https://www.aasb.gov.au/admin/file/content102/c3/AASB1011_5-87.pdf AICPA. (2016). Practical Applications of Patent Valuation Approaches and Methods. Retrieved September 17, 2016, from https://www.willamette.com/pubs/presentations/reilly_patent_valuation_methods_aicpa_110711.pdf De Vries, D. (2012). Leveraging patents financially: a company perspective. Springer Science Business Media. AASB 120. (2009). Accounting for Government Grants and Disclosure of Government Assistance. Retrieved September 17, 2016, from https://www.aasb.gov.au/admin/file/content105/c9/AASB120_07-04_COMPjul08_01-09.pdf Bragg, S.M. (2011). Wiley GAAP 2012: interpretation and application of generally accepted accounting principles. John Wiley Sons. ACCA. (2016). Research and Development. Retrieved September 16, 2016, from https://www.accaglobal.com/in/en/student/exam-support-resources/fundamentals-exams-study-resources/f7/technical-articles/rd.html