Sunday, February 16, 2020

Strategic Accounting Essay Example | Topics and Well Written Essays - 1500 words

Strategic Accounting - Essay Example One of the major developments in the area of managerial accounting is the product life cycle costing which has gained serious recognition during recent periods to meet the challenges of changes in the production systems and procedures. Product life-cycle costing being the new development in the management accounting system has been defined as "a new area of reporting in cost management systems which is the accumulation of costs for activities that occur over the entire life cycle of product"(Hilton, 1994, p.230). Product life cycle examines the life of the product from its development stage to the stage till the removal of the product from the usage. According to Horngren & Foster (1991), product life-cycle covers the life of the product from the time of initial research and development to the time when sales and support of the product to the customers is withdrawn. Burstein (1988) observes that the life cycle costing becomes more and more crucial and important in the light of rapid changes in technology and the shortening of the product life cycle. There is a sharp distinction between the product's life cycle costs and the whole life cycle costs. Life cycle costs cover all the costs that the manufacturer will have to incur and whole life cycle cost includes the costs at the hands of the consumer like installation, operation, maintenance, revitalization and disposal (Shields & Young 1991.) Adamany & Gonsalves (1994) have identified the following seven stages in the life cycle of a product: 1. Analysis Stage - involving a critical assessment of the concept and the effects of investing on the concept 2. Start Up Stage - comprising of prototyping, dedication of the manufacturing facilities and practical assessment of the effects of the investment 3. Entry Stage - where the entry into the market with a new product or service is planned 4. Growth Stage - during which the firm receives back the returns on investment as potential sales revenues 5. Maturity Stage - at which the firm harvests the profit from the product or service 6. Decline Stage - signifying the tampering down of the sales which necessitates moving to the withdrawal stage or revitalizing the product 7. Withdrawal Stage - the product is withdrawn from the market It is also vitally important that the managers gather all the required information at the different stages of the life cycle and the life cycle concept introduces an integrated approach to planning and budgeting. Mapping of Key Information Requirements Life Cycle Phase Time Customer Requirement Satisfaction Target Pricing Resource Requirement Continuous Improvements Cash Flow Analysis Critical Critical Critical Critical Critical Start up Critical Critical Critical Critical Critical Entry Critical Critical Critical Critical Critical Growth Critical Critical Critical Critical Critical Critical Maturity Critical Critical Critical Critical Decline Critical Critical Withdrawal Critical Source: (Adamany & Gonsalves 1994) Actions under Life Cycle Costing for Generating Revenue and Reducing Costs Revenue Generation Cost Reduction Product Improvement: New Processes Features Cumulative Volume Performance Experience

Sunday, February 2, 2020

Naval Ground Strategy Assignment Example | Topics and Well Written Essays - 500 words

Naval Ground Strategy - Assignment Example t, the security of a large and expanding system of international trade in the 20th century would depend on the creation of a transnational consortium of naval power (i.e., the U.S. and Britain).2 Mahan advocated for application of sea power through a big navy which according to him was significant in commerce and economic warfare. He believed that the nation or a group of nations that commanded the sea could be in a good position to draw trade, wealth, and economic resources of the world and was most likely to win wars3. During the civil war, naval weaknesses of the southern states led to seaborne assault. In the course of the four years of conflict, the territorial integrity and economic vivacity of the south were compromised by the union army and navy.4 In this regard, Mahan’s view of navy power could be seen as accounts of truth that were to happen. On the case of Britain, Mahan believed that in late 18th and 19th centuries, Britain had been better placed because parliament had been dominated by men with close ties to maritime commerce. In his view of naval supremacy in the 20th century, he believed that not a single democratized nation would be capable of commanding such supremacy and that this would only be exercised by a transnational group of navies.5 However, he insisted that the basis of such an arrangement would not be formal agreement but absence of political conflict. In his view, he believed that Britain and the United States would constitute such cooperation. However, in quest for superpower supremacy, the US has predominantly set its programs and doctrines to enable it attain this dream. In September 2002, the bush administration issued its national security strategy, which advocated for use of force to get rid of any apparent challenge to US global hegemony.6 This could be analyzed as grand strategy by the US to maintain its world dominance. However, in many situations, the US mission can be termed as a failed one. In fact, due to its dominance