Best Essay Topics - Top Essay Writing Tips

<h1>Best Essay Topics - Top Essay Writing Tips</h1><p>The best article points come in a wide range of arrangements, so you can be certain that your exposition will get the consideration it merits. All things considered, this article is going to offer a few considerations and thoughts that you can use to help make your paper stand apart among the rest.</p><p></p><p>For starters, you should look into on the theme you need to compose an exposition about. To do this, you can do a little research on the web. You will discover a wide range of sites that offer the data you have to assist you with getting started.</p><p></p><p>Next, you will need to consider what it would be a smart thought for your article to address. Is it something that relates to your present or future vocation? What about something that relates to your own life? Consider what the article points that you select will manage and how you will best use them to give you an amazing and powerful essay.</p><p></p><p>After you have figured out what the most significant snippet of data you need to incorporate, you will need to think about composing an unfinished version of the exposition. Keep in mind, a first draft is generally not worth a lot in excess of a scrapbook and is of no incentive to you or your instructor. Thusly, you have to make a note on the themes you are keen on and afterward put forth a purposeful attempt to join those points into your writing.</p><p></p><p>Once you have a framework of the subjects you need to address, you can start to compose. Your first section ought not exclusively be compact yet additionally permit you to utilize probably the best exposition points for your paper. You will need to attempt to remember a curve or a turn for the point and something that will get the consideration of your peruser as well.</p><p></p><p>In expansion to util izing the best article themes, you will likewise need to be certain that your paper is efficient. You wantto ensure that your archive is organized and efficient. On the off chance that you end up experiencing difficulty assembling your exposition, ensure you plunk down and survey it.</p><p></p><p>Finally, you need to ensure that you take complete consideration to your work. Your objective here is to ensure that the result of your work is convincing and ground-breaking. Along these lines, set aside the effort to truly place some idea into your article and ensure you get everything done.</p>

Research Paper Topics On Race In Society

Research Paper Topics On Race In SocietyYou may have considered going into a vocation as an educator, however you don't know where to begin with regards to inquiring about your picked topic. It's anything but difficult to get occupied by all the free assets accessible on the web, or you may be uncertain of which course to turn. There are numerous valid justifications to think about doing some exploration on the web. Here are a couple of the best motivations to look into an article that may intrigue you.First of all, you may discover these articles very enlightening - there are many research papers on the history and family history destinations to investigate. Some history and family history locales give extra data also, for example, documents. These are extremely valuable, particularly on the off chance that you need to become familiar with a particular period or individual.Research paper points can frequently end up being the most intelligent solution to your inquiries. At the point when you choose to compose your own paper, it tends to be trying to think of something you can expound on in your branch of knowledge. For instance, you may have been asking why certain numbers or sorts of occupations were required, and you might want to realize what caused this or why. In the event that you were not keen on scholastic research from the outset, you may discover this sort of data sufficiently intriguing to do the remainder of the paper without requiring an educator to assist you with any of the research.Many times, nonetheless, it is significant data that will influence your vocation or way of life that you might need to get some answers concerning. Additionally, this kind of data can be especially helpful to proficient history specialists and analysts. While they may not discover the data you are searching for, they may know about a subject you have not seen, and it could help you.There are many web indexes online that give some examination paper points on race in the public arena. This implies you don't have to stress over finding the correct site. The internet searcher will give you a rundown of a few important outcomes that you can utilize. In the event that you don't discover what you are searching for, you can generally utilize the manual internet searcher and look over a rundown of subjects that you prefer.In expansion to significant issues influencing our lives, a couple of significant investigations of history and research paper themes on race in the public arena offer a brief look into what the world resembled before the present society developed. These papers investigate what individuals did and how they lived. There are some intriguing stories included, and this may start an extraordinary enthusiasm for you.One of the best parts of research paper subjects on race in the public arena is that you can utilize your own thoughts or sentiments. This permits you to mesh them into an important and ground-breaking story that would be hard t o expound on from a reading material. It additionally permits you to remain absolutely mysterious, and nobody will realize you are the writer of the work.So on the off chance that you are considering composing an examination paper on race in the public eye, you can profit by inquire about paper subjects on race in the public eye. They are helpful, and you can gain proficiency with a ton about the manner in which various societies and social orders have advanced after some time, and what it intends to us today. In the event that you are keen on composing your own exploration paper, you can learn much by looking into investigate papers on race in the public eye.

Topics to Write a 20-Page Paper On

Topics to Write a 20-Page Paper OnTopics to write a 20 page paper include the material that you need to cover in order to get your assignment done. It is good practice to write several different papers, but in reality most people only do one or two. Not having to write a report or research paper each week can save you a lot of time.Many topic paper topics to write a 20 page paper on revolve around the subject of the class. By having the class come to class with an assignment that pertains to their major, students are able to learn and apply what they have learned. Students are also able to use these subjects to help them pass their courses.The easiest way to determine what type of paper to write is to set up a multiple-choice questions. Tell the class that you will be giving them a question, and then ask them to answer it. Once the questions are filled out, turn the sheet over to a fellow student. You can then go over the questions and determine which ones they need to get right in o rder to get an A.If you want to write a paper that requires more thinking than simply copying down the information you have already studied, then you should consider writing a research essay. Research essays are often required to show that a student has a knowledge base of the subject matter. The details can vary; sometimes a student will just need to write about a certain aspect of the subject, other times they will need to write on their own terms. Either way, it is important to show how well they know the subject.Often times you will find that a topic paper is the same as another for other classes. For example, if you want to write a paper on a particular music group, you may need to write about bands in other genres. This can be used as a handy reference, or you can leave your work entirely on the topic and use it as a starting point for your own music writing.When it comes to having a paper written, a computer can make it easier by saving you from having to write everything out and writing on a notepad, rather than using a paper and a pen. Once you are done, it is important to let someone else pick up where you left off. When you are writing, always ask yourself if you need to change something.If you are trying to create an outline for a paper that you have written, it is important to be organized. Write down everything before you put anything down on paper. In addition, always ensure that you have a notepad with you when you are studying.So many people think that they can write a topic paper without spending a lot of time. They are usually wrong and this can be avoided if you just follow some of the suggestions in this article.

Lies Youve Been Told About Comparison Essay Samples Free

<h1> Lies You've Been Told About Comparison Essay Samples Free</h1> <h2> All About Comparison Essay Samples Free</h2> <p>By definition, it's an exposition that is typically composed by understudies in almost every zone of study. Each understudy was relegated a thoroughly analyze article in any event one time in a lifetime. </p> <p>There's no perfect arrangement about how to create a powerful exposition. Before you start any paper, you should get a comprehension of the best approach to compose it. Having great article models gives the peruser an inside and out and on-the-court thought regarding what an all around organized and lucid exposition seems like. It is a hard procedure in paper composing when you don't have a structure to follow. </p> <p>When you buy the absolute first article here, you will before long find that the dread is nothing more than the False Evidence Appearing Real. Henceforth ladies are to some degree progressively expressive concerning their feelings and sentiments. Most men abstain from crying since it's viewed as shortcoming. There has ever been a noteworthy worry about the matter of whether ladies and men are extraordinary. </p> <h2> The Rise of Comparison Essay Samples Free</h2> <p>Cats, on the other side, for the most part chase without an yone else, nor require any company. We'll oversee them, and at a reasonable cost, as we comprehend that understudies by and large don't have a lot of cash to save. Besides, it's been expected that people incorporate a desire to analyze their own suppositions and capacities. The sole thing that should be possible so as to oppose such correlation is to understand the feelings of those people who put their essence in work during the time to manage the cash for both of these celebrations with the goal that their youngsters may appreciate. </p> <p>If this is the situation, you aren't the only one. Ladies have a greater splenium that is a piece of the mind that oversees examination of data. School is a period for understudies to focus on courses that are specific to the understudy's profession targets.</p> <p>From the title as of now the most significant subject of the novel can be resolved isolation, which applies to each character in an unmistakable manner. Words which create diversion can be used with a motivation behind breaking repetitiveness notwithstanding recovering the crowds' advantage. Primary quintessence You could generally compose an agreeable and charming paper. The subject of Latin American political savagery is very essential in the full novel. </p> <h2> New Ideas Into Comparison Essay Samples Free Never Before Revealed </h2> <p>Usually, an official discourse varies from negligible discussions in the manner it's organized. In addition, our English-talking authors ensure each request has unique substance and a fitting structure. Also, references are required to utilize another person's contentions without assuming acknowledgment for them all the while, which is significant to decrease written falsification. Words that are calmly utilized must be changed into formal sounding expressions so as to keep up topical articulations of the discourse. </p> <h2> Comparison Essay Samples Free Explained </h2> <p>Then once more, you might be made to think about things which don't share that much for all intents and purpose. Verify you get the opportunity to gain your point. Now and again, the best technique to learn and see new data is through observing and understanding work which is as of now finished. You ought to have your reasons, and our essential concern is that you end up getting a superb evaluation. </p> <h2> Comparison Essay Samples Free for Dummies</h2> <p>Some acquaintance would in like manner be compelling with the perusers since it would give them an impact on what kind of author you are and which sort of article they are perusing. Understudies need to create papers dependent on the educator's guidelines or their favored style recorded as a hard copy. Here it is conceivable to locate the key proposals on how best to make a triumphant thoroughly analyze exposition. Composing an exposition is a basic job in academe life. </p> < ;h2> The Supreme Approach to Comparison Essay Samples Free </h2> <p>A correlation paper is dedicated to depiction of comparative and different highlights of a few articles. At long last, references ought to be acted in the style that is satisfactory for the article's subjects for the simplicity of unmistakable people in different fields. Before you start composing this sort of article, you should gather however much insights regarding every thing in correlation as could be expected. In the event that you'll compose a relative article, you should get an idea of the effects of unmistakable perspectives to the outcome which you can get at the finish of the composing action. </p> <h2> Whatever They Told You About Comparison Essay Samples Free Is Dead Wrong...And Here's Why</h2> <p>Essay composing is regularly drilled is schools. In spite of the way that you pay for schoolwork, we give those alternatives at no expense. As a result, you get an awesom e arrangement of leisure time and finished schoolwork. Another explanation given by understudies for not being able to complete their articles dependably is insufficiency of adequate time, especially when the task is given close to cutoff time. </p>

Secret Answers to Writing Research Papers for Dummies Uncovered

<h1>Secret Answers to Writing Research Papers for Dummies Uncovered </h1> <h2> Details of Writing Research Papers for Dummies</h2> <p>Apparently, you can't present your outcomes at the period of research proposition. Use your layout to focus on how you are going to structure your last research paper and that which you will address in every individual passage. When it is neither essential nor alluring to give an out and out survey of the writing for an introduction to the investigation, it assists with arranging the examination inside some greater field of enquiry. Useful discourse papers have a layout that has a concise title toward the beginning of the discourse. </p> <p>Students need to guarantee that the nature of Spanish uniquely designed research papers offered to them is certainly justified regardless of the total of charged. Presently you can scan for writing and practice materials that are to be used in your examination. Understudies should utilize a few sources when composing research papers. Moreover, the understudies don't have the foggiest idea about the correct composing styles to utilize while composing their exploration papers. </p> <p>High school look into paper themes are very easy to compose after you've done the basic research. Understudies ought to get their Spanish modified research papers before cutoff time. Numerous understudies don't comprehend where to begin with an examination paper. </p> <p>The article isn't as unnerving as it looks. Composing a proposal requests profound astuteness and master level research capacities. </p> <p>The one most significant feature of having a prevalent research paper composing experience is picking a subject. In case you're popular of theory papers, our internet composing framework is the perfect area to put your buy. You need to invest a specific aggregate of energy sitting in the library or riding the web to have the option to find some accommodating information for your scholastic paper. Being an understudy isn't normally identified with chance to squander spending plan. </p> <p>Not just should you to create a paper that is a specific length, all of that paper must be completely significant. It is urgent to offer exhaustive guidelines for the paper to complete your exploration paper. You should pick a trustworthy help of task writing to complete your proposition paper. Much subsequent to experiencing the example of research paper test you mail to make out the best approach to adhere to a suitable research paper group at that point be certain you are going towards real help from the experts. </p> <h2> Writing Research Papers for Dummies: No Longer a Mystery </h2> <p>Students should search out guidance from their partners on the absolute best composing firms. To start with, they think that its difficult to compose quality research papers since they need more time. A few understudies think that its hard to lead essential or auxiliary research while some basically need comprehension of the subject. Various different understudies are feeling only equivalent to you! </p> <h2> The End of Writing Research Papers for Dummies </h2> <p>An article investigate ought to get a presentation that quickly presents the short article and mentions to the peruser what to foresee. It's subsequently fundamental to do explore in order to distinguish and choose the most reliable article investigate composing organization. In the first place, it's basic to peruse the article which is to be investigated and comprehend it cautiously. The following stage is to begin gathering and perusing the articles. </p> <h2> New Step by Step Roadmap for Writing Research Papers for Dummies</h2> <p>Utilise the help of our administration and don't worry about how you complete the school. The evaluation of the exploration proposition for the most part depends not simply on the evaluation of the venture proposed yet in addition on the bore of research proposition composing. After the inquiry of various assets presents a genuine time smash for understudies, and there might be an exponential sum information out there for the paper. For example, the understudies are relied upon to utilize essential assets and optional assets. </p> <p>Plagiarism is certainly from the inquiry. Understudies must submit Spanish uniquely crafted inv estigate papers which are liberated from literary theft. They can neglect to locate the fitting information and reword them appropriately to maintain a strategic distance from written falsification. </p> <h2>Writing Research Papers for Dummies and Writing Research Papers for Dummies - The Perfect Combination </h2> <p>Otherwise, you can evaluate it yourself. Thus, it's pivotal to confide in your scholastic papers to the local speakers as an approach to locate the normal result. </p> <h2> Using Writing Research Papers for Dummies</h2> <p>There is a collection of organizations that give inquire about paper composing administrations. Our uniquely crafted paper composing administration is truly among the best ever! You can have confidence that whenever you need our composing administration, we'll be accessible to help you process them. 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Our able scholars understand that time is fundamental. </p> <h 2>Life, Death, and Writing Research Papers for Dummies </h2> <p>As soon as you most likely are aware the organizing prerequisites, it is conceivable to discover an application that will empower you to structure your exploration paper so it's agreeable. Notwithstanding what source you require, the creator will survey it and make an exceptionally viable contentious paper contingent upon the significant proof. All writing surveys have an essential structure. You may most likely know that the structure of some scholastic papers is reliant on both arranging and sort of paper. </p> <h2> What Is So Fascinating About Writing Research Papers for Dummies?</h2> <p>If you can find an article connected to your subject, you may revamp it to quicken the methodology. The absolute initial step is to perceive a point on which you wish to make the audit out of writing. Decide on a theme it's conceivable to inquire about completely. A few examines talk about a gen eral theme while some are dealing with something explicit. </p>

The Crucible By Arthur Miller - 1545 Words

In â€Å"The Crucible,† Arthur Miller portrays two females whose characters, when juxtaposed, look to vastly distinction each and every different. Although the specific phrases aren t used, one girl is basically put forth within the story as â€Å"good† and the other woman as â€Å"evil.† Such black and white rulings of these characters would be close to ironic, in view that that Arthur Miller wrote his play to reveal the risks of judging humans with different mindsets or perception systems. Miller portrayed that such illogical reasoning is detrimental or at the very least, counterproductive. Exploring the characters and motives of the 2 predominant women, Abigail Williams and Elizabeth Proctor, a hard microcosm comes into view, paralleling the message of the story as a entire. The reader begins to admire that extra is at play than a floor rendering of â€Å"excellent† versus â€Å"evil.† Abigail Williams, the â€Å"bad† girl, is introduced in the play as the ringleader who led different ladies to a taboo gathering; her principal reason was once so as to solid a spell upon Elizabeth Proctor, the spouse of John Proctor – with whom she had an affair when she lived with them as a servant. Naturally, what to John was once a small detour off the trail of righteousness was once to Abigail the doorway to a brand new world. Abigail is confused, and her reasoning illogical, but that s no exclusive from the logically impaired point of view of many within the city of Salem, even essentially the most strong andShow MoreRelatedThe Crucible By Arthur Miller1269 Words   |  6 PagesAt first glance, the playwright Arthur Miller in The Crucible highlights the historical significance of the Salem Witch Trials of 1692, but in fact it is an allegorical expression of his perception of McCarthyism. If the reader has some background information on Arthur Miller’s vict imization as a communist, it is evident that the play is a didactic vessel illustrating the flaws of the court system in the 1950’s. The communist allegations were launched at government employees, entertainers and writersRead MoreThe Crucible By Arthur Miller1681 Words   |  7 Pagesof their way to the last dying breath to make sure they leave with a good or bad reputation. In one of the recent literature study in class â€Å"The Crucible† by Arthur Miller, Miller uses characterization to illustrate reputation throughout the play. â€Å"The Crucible† takes place in Salem, Massachusetts. It is based upon the Salem witch trails. In â€Å"The Crucible†, we journey through the life of three characters who reputations plays a major role in the play. The three characters are John Proctor, AbigailRead MoreThe Crucible By Arthur Miller1333 Words   |  6 PagesAs the various characters in The Crucible by Arthur Miller interact, the dominant theme of the cons equences of women’s nonconformity begins to slide out from behind the curtains of the play. Such a theme reveals the gripping fear that inundated the Puritans during the seventeenth century. This fear led to the famous witch-hunts that primarily terrorized women who deviated from the Puritan vision of absolute obedience and orthodoxy. Arthur Miller presents his interpretation of the suffering by subtlyRead MoreThe Crucible By Arthur Miller998 Words   |  4 Pagesmotivated by jealousy and spite. The Crucible is a four-act dramatic play production that was first performed on January 22, 1953. Arthur Miller used dialogue within the characters to cover the multiple themes; conflicts and resolutions, plus the few directions for the different actions of the play. The Salem Witch Trials were intended to be performed as the play however, when read, it can be more carefully examined and broken down to analyze the techniques. Miller, the playwright, uses literaryRead MoreThe Crucible By Arthur Miller1145 Words   |  5 PagesUnbalance Through The Centuries In Arthur Miller’s play, The Crucible, the author reflects the persecution of communists in America in the 1950’s through a recount of the Salem witch trials. It is often presumed that Miller based his drama directly off of events that were particularly prevalent in the years surrounding the publication of The Crucible- which was released in the year 1953, towards the conclusion of the Korean War. Although there was not a literal witch hunt occurring during this timeRead MoreThe Crucible By Arthur Miller1063 Words   |  5 PagesIn the English dictionary, there are three definitions of the word crucible. One is a metal container in which metals are mixed and melted. Another is a severe test. But the third definition, and the one that I think fits the best for this book, is a place or situation in which different elements interact to create something new. In my mind, this fits because all of the characters had their little grudges and dirty secrets. But when all th ose seemingly little things interact, they formed somethingRead MoreThe Crucible By Arthur Miller1285 Words   |  6 Pages Rationale, Morality, Stereotypes, Pressure, Self-Censorship, Unanimity, and Mindguards. Groupthink has also taken place in our history a a country. The play, The Crucible by Arthur Miller is about a the real-life Salem Witch Trials that happened in 1692 - 1693, in Salem, Massachusetts. Some symptoms of Groupthink found in the Crucible are Rationale, Pressure, and Self-Censorship. The Groupthink symptom, Rationale, is described as when victims of Groupthink ignore warnings: they also collectivelyRead MoreThe Crucible By Arthur Miller811 Words   |  4 Pages While The Crucible, by Arthur Miller, is only a four act play, it still resembles the format of a five act play. The five-act structure evolved from a three-act structure, which was made famous by Roman Aelius Donatus. Donatus came up with three types of plays: Protasis, Epitasis, and Catastrophe. The five-act structure helped to expand the three act structure, mainly made famous by Shakespeare through his many tragedies. Even though The Crucible contains only four acts, it still has the commonRead MoreThe Crucible By Arthur Miller1052 Words   |  5 PagesBuddy Al-Aydi Ms.Healy English 9 CP 14th October 2014 The Crucible Essay The Crucible was a novel written by Arthur Miller in the 1950’s. It was written in a format of the play, portraying an allegory of the Salem Witch-Hunts led by Senator Joseph McCarthy. The book is known to have a inexplicable plot. This plot is advanced by multiple characters in the book in order to ensure that the reader maintains interest with the material that is being read. The farmer, John Proctor, would be theRead MoreThe Crucible By Arthur Miller841 Words   |  4 PagesThe Crucible is a chaotic play, throughout this American classic Arthur Miller takes the reader through multiple events of terror and insanity. While creating a great on-stage play, Arthur Miller portrays his life through the events, the characters, and plot of The Crucible. Using vivid imagery and comprehensible symbolism, Miller manipulates the real personalities of the characters and events in 1600 Salem, Massachusetts to create a symbolic autobiography. Throughout this play, the reader experie nces

Caltech Essay Samples: No Longer a Mystery

<h1> Caltech Essay Samples: No Longer a Mystery</h1> <h2>The Upside to Caltech Essay Samples </h2> <p>The cost of an exposition rides on the aggregate sum of exertion the author needs to apply. The early on section is maybe the most critical passage in the exposition since it is the underlying and perhaps last chance to create an impact on the peruser. Most determinations are only a section long as the end is anticipated to be a review of the entire exposition. This distinctive trait of this article requests the author to convey his focuses in a succinct technique. </p> <h2>Caltech Essay Samples Options </h2> <p>For occasion, the cost of an enticing paper will vary from a proposition article. The least complex way to deal with make a better powerful article is than picked a subject you're positive about. There are a few decent convincing paper themes to pick from. A timid individual won't ever make an incredible influential articl e. </p> <p>You don't have to come back to class to get ready for the GED test. On the off chance that your point is to pass the GED, at that point you need to find out about test-taking methodologies. Composing has existed for a serious exceptionally prolonged stretch of time. There are times a few instructors aren't proficient or don't clarify a couple of the exercises well. </p> <p>No matter your purposes behind deciding to utilize this sort of article, you should know that the outcomes will in all likelihood be negative. Glance through the rundown of themes carefully and begin making a psychological assortment of the proof it is conceivable to use on points you like. These days there are loads of concerns which are impacting the Maltese organizations. </p> <h2>New Ideas Into Caltech Essay Samples Never Before Revealed </h2> <p>Many understudies look for grant so the budgetary aspects of considering would be to a lesser extent a weig ht as they would like to think. Secondary school understudies must create expositions on a choice of points which from the outset may seem to share nothing for all intents and purpose. In this manner, numerous understudies and workers choose to get reasonable paper instead of composing it themselves. Secondary school, school, and here and there even college understudies from all around the globe are composing influential articles. </p> <h2> What You Don't Know About Caltech Essay Samples </h2> <p>If you wish to make sense of how to form an astounding convincing exposition, you're glancing in the correct area! Above all else it's basic to be certain that you understand the exposition question completely and your article answers each piece of the inquiry enough. A few understudies discover heaps of trouble composing the article, regardless of whether they can find solid focuses. </p> <p>Lots of individuals discover composing as a successful strategy to impart their proposals and insights. If you had contemplated utilizing a representation of an enticing exposition, at that point one of the absolute first things to be aware of is the peril of being gotten for copyright infringement. 1 thing we should state directly from the beginning is that you shouldn't choose to play at a gambling club exclusively due to the rewards which are on offer. Except if you're an incredibly capable bread cook, no doubt the arrangement is no. </p> <h2> The History of Caltech Essay Samples Refuted</h2> <p>The up and coming scarcely any passages will make generally out of your exposition. Remember that any factious paper test you'll find on the web will require a full revamping so as to forestall copyright infringement. On the off chance that you are scanning for an example powerful paper, at that point one of the absolute first places you will in all probabi lity look is the web. Experience the rundown underneath. </p> <p>Be sure your companion realizes that you're not prone to duplicate the paper, simply use it like a model for direction. Experts of picking a minimal effort exposition administration Availability Everywhere on the web, you can get one or other article support. A brilliant occasion of an inquiry a parent may be posed is the manner in which the parent thinks their little one will add to the school. Completely being an upbeat secondary school understudy wouldn't be conceivable without my relatives. </p> <h2> Things You Won't Like About Caltech Essay Samples and Things You Will </h2> <p>Partial models will be on the business site on the off chance that you would prefer not to get an example one. Once more, the best decision is to utilize our specially composed paper support. On the off chance that you are needing a site that will gracefully you with a broad assortment of tests, at that po int you're at the suitable spot. Today, there are a few on-line sites that give test papers. </p>

Tips For Writing An Essay On The Troubles Of Our Times

<h1>Tips For Writing An Essay On The Troubles Of Our Times</h1><p>Tips for composing an exposition on the difficulties of your occasions incorporate the characteristic example that exists in an individual. It's a self-basic segment of each and every person, as it is something that is worked inside them. In any case, this equivalent method of reasoning that prompts one to a 'clarification' of their 'disaster' must be tempered by reality of what the truth is.</p><p></p><p>An article is just a mirror reflecting back to us. Actually, reality of the circumstance must be reflected by the facts of our own encounters, which incorporate the part that we encountered in the past just as the part that we are as of now encountering in the present. By calculating in similar parts, and considering each other as they were, we can utilize these equivalent 'inconveniences' as an approach to comprehend the genuine 'inconvenience' that we are going through.</ p><p></p><p>We must not be credulous when taking a gander at the past. We should take a gander at things as we see them and with their unique setting in the present. By allowing things to stream, as they are and doing whatever it takes not to make an 'answer' out of an 'issue,' we can see the current circumstance as another beginning.</p><p></p><p>This same rule of 'taking the stream' when taking a specific undertaking, including school papers, can likewise be applied to the 'harder' things throughout everyday life. It is important to separate the 'inconveniences' into littler bits, and understand that every one of these bits is a piece of a bigger riddle. On the off chance that we set aside some effort to assess every one exclusively, we will begin to consider the to be picture as an increasingly conceivable and reasonable one.</p><p></p><p>Now that we have wrapped up our paper on the difficulties of our occasions , we have to pause for a minute to ask ourselves what is generally critical to us? Would we like to depict a type of virtuoso, or a disaster? By posing ourselves this inquiry, we can discover the chance to call attention to what is generally imperative to us.</p><p></p><p>One thing to note is that concentrating on only one part of what you need to state may not be sufficient. Imagine a scenario in which you center around one angle for a really long time. You chance getting static and you may not build up the capacity to 'reflect' upon the entire picture.</p><p></p><p>By searching out the path of least resistance, you may wind up leaving it. A great deal of the time, individuals who investigate a specific issue don't understand what they have done. Be that as it may, in the event that we keep this 'simple' approach, we might have the option to assemble an altogether new, complete picture of the 'inconveniences' of our times.</p>

Good Topics For a Reflective Essay

<h1>Good Topics For a Reflective Essay</h1><p>Writing intelligent papers isn't simple, however I trust it is significant in the event that you need to do well throughout everyday life. You can write in various manners, yet for the most part, the essential thought of composing reflection comes down to remembering three things. These are:</p><p></p><p>What is my objective? The principal thing you ought to consider is whether your objective is sure or negative. In an intelligent article, you can generally discuss what might fulfill you, yet some of the time, we don't generally have the chance to live our dreams.</p><p></p><p>Do I have an objective? Truly, you do. What's more, in the event that you will likely rake in some serious cash, at that point we comprehend what I am discussing. I don't have the opportunity to go through the entire day in the rec center or going through ends of the week at the beach.</p><p& gt;</p><p>Is that the correct decision for me? This is something you ought to choose before you begin contemplating how to compose your appearance, however I figure this might be the most significant thing that you consider.</p><p></p><p>Finding the correct subject can be hard, yet you have to pick a point that will assist you with reflecting and fabricate your confidence and certainty. Recollect that we would prefer not to cry all alone on the event of committing an error, since it will without a doubt turn individuals off. Composing a reflection is tied in with acting naturally, which is something that you should recollect while doing this kind of writing.</p><p></p><p>Step two, is to compose a rundown of the considerable number of regions wherein you think you can possibly develop and make progress. Be that as it may, there will be some that are more enthusiastically than others. Now and again, this is the place you need to concentrate on, in light of the fact that occasionally, it takes longer than you expected.</p><p></p><p>Lastly, think of a meaning of progress for yourself and the entirety of your family. Ensure that your objective is reasonable. Obviously, your meaning of progress is the thing that will keep you motivated.</p><p></p><p>Remember, you can generally change your meaning of accomplishment or you can adopt an increasingly solid strategy of what your objective is. On the off chance that you do as such, you will be unquestionably increasingly effective in thinking about your life and composing your appearance in a matter of minutes.</p>

Food Desert Essay Samples - Simple and Easy!

<h1>Food Desert Essay Samples - Simple and Easy!</h1><p>Food desert exposition tests are a simple method to exhibit your insight about a specific theme. This idea depends on the rationale that there are numerous spots in the United States where it is difficult to locate a specific food, which you are desiring. It is therefore that you have to assemble a subject to clarify in the exposition tests that you are going to write.</p><p></p><p>You can begin composing your food desert paper tests with an inquiry. You can wonder why there is nothing of the sort as a specific food, in your place. You will find that your inquiry might be something that you have never thought of before.</p><p></p><p>Once you have planned your question and have made the inference that there is a specific food, you have to assemble the synopsis and the meaning of the food. You should have the option to set out the essential principles that are perti nent in your general vicinity and how these standards apply to the specific food you need to explain.</p><p></p><p>Be sure to incorporate the name of the food that you are tending to in the sentence that follows. Incorporate the word 'each' or the expression 'which exist'. This will assist you with remaining inside the limits of the United States or some other nation's laws.</p><p></p><p>Write the synopsis, or the prologue to the article test too. This will give you the establishment from which you can extend to different pieces of the essay.</p><p></p><p>In the sentence following the rundown, you have to give insights regarding what you think about the food that you need to discuss. You have to incorporate the name of the food, its fundamental parts, what makes it novel and why you are needing the food in the first place.</p><p></p><p>The next sentence should set out the diagram of the e xposition. You should can start with the most significant focuses that you need to get over, and afterward proceed onward to the remainder of the article, which can occupy some time, however that is your choice.</p>

Expository Essay Samples For EOC Review

Expository Essay Samples For EOC ReviewWhen it comes to writing an EOC release test, expository essay samples can be a very helpful tool. These types of essays are sometimes used for formal exams and need to be read very carefully. They can also be used in the classroom when conducting experiments. Whatever your reason for using this type of essay, expository essay samples can help you take the time to perfect your paper.There are many expository essay samples available to write for. These can be found on a variety of websites online. Many people have found that using the free e-books available online are a good way to get started with a good first draft. Others may want to pay a small fee to obtain high quality and professional written samples.Sometimes people use their imagination when they start writing an EOC test. The truth is though, that it is much easier to use an expository essay sample that already exists and polished. This can actually work out very well for students who h ave not written an expository essay before. The goal here is to create a unique piece of literature. Students will need to break down all of the different parts of the essay and put them all together to create a well-structured essay.Students should be careful to use some expository essay samples as references for their own work. A student can use these to help them learn and work at creating their own thoughts. This can be a great way to get students up to speed on the various methods and techniques that can be used to present information and ideas to the reader.There are many factors to consider when creating an EOC. Many of these factors include grammar, word usage, spelling, sentence structure, and other elements that need to be in place for a good reading. When a student has their basic outline ready they can move forward to actually write the first draft. With this in mind it is always good to have a first draft of your EOC ready and available to reference when necessary.Writi ng an EOC does not have to be a difficult task. With the right materials and practice it can be a very easy and satisfying project. One thing that can be done to help students work on their drafts is to have a daily to do list. With this list students can easily remember where they left off, as well as where they need to go next.Expos do not have to be hard or complicated. They can be fun and exciting. Students should not feel that they are being forced to put in a lot of work in order to write an EOC.In order to create a great EOC, it is important to use resources that have been prepared for your use. These resources can come in many different forms. The best resources will have been analyzed and fully documented so that they can easily be accessed and utilized by the student. These resources are often offered through a school or college.

Characteristics of Topics in Economic Research Berkeley Final Paper

<h1> Characteristics of Topics in Economic Research Berkeley Final Paper </h1> <h2> The Importance of Topics in Economic Research Berkeley Final Paper </h2> <p>Some involvement in PC programming may likewise be very helpful. In case you're mistaken for a determination of fascinating subjects to inquire about on the web, it's far superior to pick what intrigues you the most. Sum up what you find in the web sites. Additionally, you would get the opportunity to seek after your own examination and become distributed on our blog. </p> <p>As an understudy at Micron, you will get the opportunity to work adjacent to some of the innovation business' best, most regarded experts consistently. Moreover, there are associations on the web that can help you in your inquiry. Papers in person to person communication. </p> <p>Possessing a degree in financial matters is incredible, however to verify that you take full advantage of your training an entry level position is critical. Temporary positions give certifiable experience, which is something your classes can never genuinely offer you. Understudies get the opportunity to get firsthand comprehension of these fields. </p> <h2>The Good, the Bad and Topics in Economic Research Berkeley Final Paper </h2> <p>You should flexibly the genuine tables either at the end of the content or inside a particular record and the genuine figures as independent documents. Figures in shading aren't permitted and must be submitted clearly. </p> <p>You should be scanning for the two measurements and conversation on those themes. Indeed, it would be much easier that you become familiar with the subject that is associated with the territory of your advantage. Our monetary history theme recommendations can be utilized to make one of a kind tips for your own exploration papers. Textual style related issues can be dodged by utilizing standard text styles like Times Roman and Helvetica. </p> <h2> Definitions of Topics in Economic Research Berkeley Final Paper</h2> <p>Secondly, it's a field which has some great future possibilities. On the off chance that your presentation is respected to be extraordinary, you'll be considered for a spot on the Graduate program. As expressed by the Bureau of Labor Statistics, the assortment of financial matters employments is foreseen to become 6% during the following ten years, which is about normal. 70% of respondents likewise imagine that supportability ought to be managed by their college class. </p> <p>His paper proposes a basic system to isolate these 2 impacts, and he finds that for French wheat, there's a distinction in the two reactions, despite the fact that the qualification is altogether more reduced than recently suspected. There are a ton of studies which take a gander at the outcomes of pay disparity on execution. Fragmented applications won't be thought of. </p> <p>On the other side, imbalance may positively affect execution by providing impetuses. Subsequently, the association between pay imbalance and execution will most likely contrast across sports. A negative impact of pay imbalance would then help the idea that pay disparity adds to strains which influence execution. The impact of disparity on execution doesn't look colossal. </p> <p>There is a superb work to public activity equalization, and you may genuinely be in charge of how you might want to dedicate your time in HK. Homer Jones is likewise popular for the core value that everyone should be in a situation to get to information exactly the same way a specialist scientist can. Simply sign in the framework as Author. </p> <p>Now like never before we need to make a move to ensure an extremely supportable future for all. Look at the occasions the 2 objectives were scored. At IEDC, everyone is anticipated to contribute, and you're considered responsible for your work. Try not to be frightened to pick the street less voyaged. </p>

Research Paper Writing Service

<h1>Research Paper Writing Service</h1><p>A inquire about paper composing administration is extraordinary compared to other approach to guarantee that your exploration paper has a progressively proficient appearance. You can get an incredible framework, and research discoveries that you make certain to use in your composed scholastic paper. By recruiting an expert to compose the exploration paper for you, you will have the option to get a diagram of your theme, and the examination results.</p><p></p><p>A inquire about paper is a significant piece of your scholastic or expert profession. It will help give your scholarly papers' validity and furthermore fill in as a decent reference material. It is the motivation behind why such a large number of individuals are attempting to complete their examination papers by experts. It is on the grounds that they need to capitalize on their examination papers.</p><p></p><p>Since it will set aside effort for you to complete this, you should be arranged and can be on time when individuals take a gander at your exploration paper. By letting your examination paper author to carry out the responsibility, you will have a progressively intensive layout. This will permit you to get all the foundation data in your subject. You will have the option to do your examination successfully without agonizing over being excessively short or additionally insufficient data. This can likewise be useful on the off chance that you are simply beginning to look into about a specific topic.</p><p></p><p>It will likewise be acceptable on the off chance that you employ an examination paper composing administration to accomplish the work for you. Despite the fact that the general administrations can get you a quality blueprint, which you would then be able to use in your paper, you can likewise request an extra assessment of the essayist who is composing the paper for you. This can assist you with getting an increasingly exact duplicate of your point, and research findings.</p><p></p><p>Since it might set aside effort for them to get your paper completed, and edit, you can generally hear a second point of view. Obviously, this must be done in the event that you can pay the charge that the essayist needs. In any case, from that point onward, you can generally check and check whether the piece composed by the essayist is precise and modern. All things considered, you may simply send it back to the author and get a discount for it.</p><p></p><p>Aside from this, the examination composing administration we just talked about, you can likewise ask your companions, family members, or associates for some great tips on the most proficient method to compose a composed research paper. It might be difficult to do this without anyone else, however when you request that individuals give you their insight and m astery, it can truly help you out.</p><p></p><p>As you know, finding an examination paper composing administration is a simple undertaking. There are a significant number of them out there in the web, so ensure that you invest some energy inquiring about and see which one you believe is going to work best for you.</p><p></p><p>After you have done all the exploration work, you should have the option to alter and complete the examination paper. This is the reason you need a dependable research composing administration that you can trust to complete the examination work for you. This is the reason you have to look at their online audits or tributes first before recruiting any organization for your examination paper composing services.</p>

Essay Writing Sites - A Sign Of Success

Essay Writing Sites - A Sign Of SuccessYou must have heard about online essay writing sites, those sites that offer free services to write your essays online. Do you know what is the main reason for these online essay writing sites?Mainly they exist to generate income for the owners of these online essay writing sites. In order to earn income the owners of these online essay writing sites charge you a certain amount of money for writing your essay. But what if you do not have any extra cash?It would be a waste of money as you will not be able to use these online essay writing sites. There are lots of online essay writing sites available in the market and you should take the liberty of choosing the one that suits your needs. However, before selecting a site, you should be aware of how much you are charged.There are some sites that charge you for every word you write. These sites charge you high amount per word and may go as high as hundreds and thousands of dollars for the same amount of words. However, if you decide to opt for the free essay writing sites, you will get huge savings and a lot of time to spend on other things.The benefit of opting for free essay writing sites is that they will offer you some basic assistance so that you can save money. Some sites offer basic writing services free. You just need to provide them with your text and they will give you writing tips and grammar support so that you can complete your assignment easily.Most of the online essay writing sites will offer you essay editing services and this is really beneficial. If you find yourself repeating a lot of words and punctuation marks, you can always ask the site owner to correct it for you. This will definitely help you save time as you can focus on other more important issues. Before selecting a site, you should also consider the reputation of the site. You should check the reviews of the site that you want to choose. Most of the popular websites are quite costly and as a result, only those sites that have really good reputation are availed.Now you know that the main reason for the existence of these essay writing sites is not only to make money but also to enhance the skills of the people. Although it is true that some writers get paid through the free sites, many of the good writers earn a decent amount through these sites. So, be careful and select a good site.

Common App Essay Examples - Family Issues

Common App Essay Examples - Family IssuesWriting a common app essay can be as difficult as any other essay if you're not familiar with the basics of grammar. Using family issues to write an app is a great way to get your points across in a compelling manner. There are no wrong answers in a common app, just different opinions.To make this article easier to read, I will first discuss the importance of using family issues to write an app. You have the option of using either a short story or a poem to tell the family's perspective on a particular topic. The best part about this is that you don't have to use any particular story or poem in order to tell your point. I will cover several common issues and the best way to use them.If you would like to get more out of your family app essay examples, I suggest that you take a look at 'The Future of Our Family'. This story has been published in numerous publications and is considered one of the most famous family app essays. If you look closely , you'll notice that the entire family has an opinion, which makes it even more interesting.Some of the most commonly used family issues are friendship, emotional support, dedication, joy, and healthy communication. Using the problems of your family, you can provide ample content to support your point. Additionally, many of these problems could also be used as a springboard for your story or poem. I would suggest taking your time and writing as much as you want, but I recommend starting with just one or two issues.Take advantage of every opportunity to include personal information such as the nature of the problem, the problems that have brought about the problem, what your family is all about and so forth. Every story and poem must have a unique point of view. This is because any one of the family members could make a better argument.When I was in writer's block, I would just sit in my car and pull over. Sometimes, a simple image would help me through my day. You may want to sit in the same spot every time you write an app essay. It will help you focus more on your topic and may even help you write faster!Writing a common app essay can be as difficult as any other essay if you're not familiar with the basics of grammar. Using family issues to write an app is a great way to get your points across in a compelling manner. There are no wrong answers in a common app, just different opinions.

A Motivation Letter to Apply for a Master in Intercultural...

Motivation Letter â€Å"Studying for a Master in Intercultural Management Leadership – What is in it for me?† In everyones life there comes a time to make important decisions that determine our future. Matter of choosing the path is undoubtedly very important. Despite the fact that many graduates in Russia find themselves in the areas of non- professional occupation, after graduation I managed to start professional career and business, and used my knowledge received during excellent educational process in my Institute. Looking to myself today, I recall being freshly graduated from secondary school and choosing next institution. I have made a decision to leave my hometown and enroll to Institute of International Entrepreneurship and Management in Krasnodar(Russia) in 1996. Thanks to my parents who were great support and have opened up a whole new world of opportunities for me. When I was a child, my parents have always been an example for me, they taught me to be purposeful and to be eager to get decent education to be able to use all great potential any person has. My father was first student who passed his academic course paper work(essay) in English, for that time being it was nonsense and quite challenging. Once I heard that, I realized that to be successful and ‘stand out from the crowd’, one should have own aptitude along with fundamental knowledge obtained in institution. 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Include special achievements: You might include literary or researchRead MoreRole of Media in Tourism9761 Words   |  40 Pagesapplications   of   communications   technologies   embody   social   values   and   are   imperatives   for   achievement   of   the   African   millennium   development  goals  and  objectives.  At  the  same  time,  these  technologies  have  become  the   engine  spurring   the  letter  and  spirit  of  global  cultures  with  remarkable  impacts  on  the   African   society   today.   The   influence   of   globalisation   on   worldwide   culture   is   rapidly   spreading.  Globalisation  employs  efficient  and  effective  mass  communication  tools  such  Read MoreProject Mgmt296381 Words   |  1186 PagesCross Reference of Project Management Body of Knowledge (PMBOK) Concepts to Text Topics Chapter 1 Modern Project Management Chapter 8 Scheduling resources and cost 1.2 Project defined 1.3 Project management defined 1.4 Projects and programs (.2) 2.1 The project life cycle (.2.3) App. G.1 The project manager App. G.7 Political and social environments F.1 Integration of project management processes [3.1] 6.5.2 Setting a schedule baseline [8.1.4] 6.5.3.1 Setting a resource schedule 6.5.2.4 ResourceRead MoreReed Supermarket Case32354 Words   |  130 Pagesbringing cutting-edge thinking and best learning practice to a global market. 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Acca Notes Free Essays

S T U D Y T E X T PERFORMANCE MANAGEMENT BPP Learning Media is the sole ACCA Platinum Approved Learning Partner – content for the ACCA qualification. In this, the only Paper F5 study text to be reviewed by the examiner: †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ We discuss the best strategies for studying for ACCA exams We highlight the most important elements in the syllabus and the key skills you will need We signpost how each chapter links to the syllabus and the study guide We provide lots of exam focus points demonstrating what the examiner will want you to do We emphasise key points in regular fast forward summaries We test your knowledge of what you’ve studied in quick quizzes We examine your understanding in our exam question bank We reference all the important topics in our full index BPP’s i-Pass product also supports this paper. FOR EXAMS IN 2011 First edition 2007 Fourth edition November 2010 ISBN 9780 7517 8921 8 (Previous ISBN 9870 7517 6367 6) British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library Published by BPP Learning Media Ltd BPP House, Aldine Place London W12 8AA www. We will write a custom essay sample on Acca Notes or any similar topic only for you Order Now bpp. com/learningmedia Printed in the United Kingdom We are grateful to the Association of Chartered Certified Accountants for permission to reproduce past examination questions. The suggested solutions in the exam answer bank have been prepared by BPP Learning Media Ltd, except where otherwise stated. All our rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of BPP Learning Media Ltd. Your learning materials, published by BPP Learning Media Ltd, are printed on paper sourced from sustainable, managed forests.  © BPP Learning Media Ltd 2010 ii Contents Page Introduction Helping you to pass – the ONLY F5 Study Text reviewed by the examiner! Studying F5 The exam paper v vii xi 3 21 33 41 49 63 73 95 123 157 173 199 215 233 267 287 319 337 365 387 403 419 463 Part A Specialist cost and management accounting techniques 2a 2b 2c 2d 2e 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Costing Activity based costing Target costing Lifecycle costing Throughput accounting Environmental accounting Cost volume profit (CVP) analysis Limiting factor analysis Pricing decisions Short-term decisions Risk and uncertainty Objectives of budgetary control Budgetary systems Quantitative analysis in budgeting Budgeting and standard costing Variance analysis Behavioural aspects of standard costing Performance measurement Divisional performance measures Further performance management Part B Deci sion-making techniques Part C Budgeting Part D Standard costing and variances analysis Part E Performance measurement and control Exam question bank Exam answer bank Index Review form and free prize draw Contents iii A note about copyright Dear Customer What does the little  © mean and why does it matter? Your market-leading BPP books, course materials and e-learning materials do not write and update themselves. People write them: on their own behalf or as employees of an organisation that invests in this activity. Copyright law protects their livelihoods. It does so by creating rights over the use of the content. Breach of copyright is a form of theft – as well as being a criminal offence in some jurisdictions, it is potentially a serious breach of professional ethics. With current technology, things might seem a bit hazy but, basically, without the express permission of BPP Learning Media: †¢ †¢ Photocopying our materials is a breach of copyright Scanning, ripcasting or conversion of our digital materials into different file formats, uploading them to facebook or emailing them to your friends is a breach of copyright You can, of course, sell your books, in the form in which you have bought them – once you have finished with them. Is this fair to your fellow students? We update for a reason. ) But the e-products are sold on a single user licence basis: we do not supply ‘unlock’ codes to people who have bought them second-hand. And what about outside the UK? BPP Learning Media strives to make our materials available at prices students can afford by local pr inting arrangements, pricing policies and partnerships which are clearly listed on our website. A tiny minority ignore this and indulge in criminal activity by illegally photocopying our material or supporting organisations that do. If they act illegally and unethically in one area, can you really trust them? iv Helping you to pass – the ONLY F5 Study Text reviewed by the examiner! BPP Learning Media – the sole Platinum Approved Learning Partner – content As ACCA’s sole Platinum Approved Learning Partner – content, BPP Learning Media gives you the unique opportunity to use examiner-reviewed study materials for the 2011 exams. By incorporating the examiner’s comments and suggestions regarding the depth and breadth of syllabus coverage, the BPP Learning Media Study Text provides excellent, ACCA-approved support for your studies. NEW FEATURE – the PER alert! Before you can qualify as an ACCA member, you do not only have to pass all your exams but also fulfil a three year practical experience requirement (PER). To help you to recognise areas of the syllabus that you might be able to apply in the workplace to achieve different performance objectives, we have introduced the ‘PER alert’ feature. You will find this feature throughout the Study Text to remind you that what you are learning to pass your ACCA exams is equally useful to the fulfilment of the PER requirement. Tackling studying Studying can be a daunting prospect, particularly when you have lots of other commitments. The different features of the text, the purposes of which are explained fully on the Chapter features page, will help you whilst studying and improve your chances of exam success. Developing exam awareness Our Texts are completely focused on helping you pass your exam. Our advice on Studying F5 outlines the content of the paper, the necessary skills the examiner expects you to demonstrate and any brought forward knowledge you are expected to have. Exam focus points are included within the chapters to highlight when and how specific topics were examined, or how they might be examined in the future. Using the Syllabus and Study Guide You can find the syllabus and Study Guide on page xi of this Study Text Testing what you can do Testing yourself helps you develop the skills you need to pass the exam and also confirms that you can recall what you have learnt. We include Questions – lots of them – both within chapters and in the Exam Question Bank, as well as Quick Quizzes at the end of each chapter to test your knowledge of the chapter content. Introduction v Chapter features Each chapter contains a number of helpful features to guide you through each topic. Topic list Topic list Syllabus reference Tells you what you will be studying in this chapter and the relevant section numbers, together the ACCA syllabus references. Puts the chapter content in the context of the syllabus as a whole. Links the chapter content with ACCA guidance. Highlights how examinable the chapter content is likely to be and the ways in which it could be examined. What you are assumed to know from previous studies/exams. Summarises the content of main chapter headings, allowing you to preview and review each section easily. Demonstrate how to apply key knowledge and techniques. Definitions of important concepts that can often earn you easy marks in exams. Tell you when and how specific topics were examined, or how they may be examined in the future. Formulae that are not given in the exam but which have to be learnt. This is a new feature that gives you a useful indication of syllabus areas that closely relate to performance objectives in your Practical Experience Requirement (PER). Introduction Study Guide Exam Guide Knowledge brought forward from earlier studies FAST FORWARD Examples Key terms Exam focus points Formula to learn Question Case Study Give you essential practice of techniques covered in the chapter. Provide real world examples of theories and techniques. Chapter Roundup Quick Quiz Exam Question Bank A full list of the Fast Forwards included in the chapter, providing an easy source of review. A quick test of your knowledge of the main topics in the chapter. Found at the back of the Study Text with more comprehensive chapter questions. Cross referenced for easy navigation. vi Introduction Studying F5 The F5 examiner wants candidates to be able to apply management accounting techniques in business environments. The key question you need to be able to answer is ‘what does it all actually mean? ‘ Modern technology is capable of producing vast amounts of management accounting information but it has to be used to help managers to make good decisions and manage effectively. The emphasis in this paper is therefore on practical elements and application to the real world. The examiner does not want to trick you and papers will be fair. The F5 examiner The examiner for this paper is Ann Irons, who replaced Geoff Cordwell from the December 2010 sitting onwards. Ann Irons has written several articles in Student Accountant, including one on how to approach the paper (September 2010 issue). Make sure you read these articles to gain further insight into what the examiner is looking for. Syllabus update The F5 syllabus has been updated for the June 2011 sitting onwards. The full syllabus and study guide can be found in this Study Text on pages xi to xviii. The main changes are the omission of backflush accounting and the inclusion of environmental accounting and cost volume profit (CVP) analysis. The syllabus order has also been changed, which has been reflected in this Study Text. A full summary of the changes to the F5 syllabus is given on the next page.. Introduction vii viii Introduction Introduction ix 1 What F5 is about The aim of this syllabus is to develop knowledge and skills in the application of management accounting techniques. It covers modern techniques, decision making, budgeting and standard costing, concluding with how a business should be managed and controlled. F5 is the middle paper in the management accounting section of the qualification structure. F2 concerns just techniques and P5 thinks strategically and considers environmental factors. F5 requires you to be able to apply techniques and think about their impact on the organisation. 2 What skills are required? †¢ †¢ †¢ †¢ †¢ You are expected to have a core of management accounting knowledge from Paper F2 You will be required to carry out calculations, with clear workings and a logical structure You will be required to interpret data You will be required to explain management accounting techniques and discuss whether they are appropriate for a particular organisation You must be able to apply your skills in a practical context 3 How to improve your chances of passing †¢ †¢ †¢ †¢ †¢ †¢ †¢ There is no choice in this paper, all questions have to be answered. You must therefore study the entire syllabus, there are no short-cuts Practising questions under timed conditions is essential. BPP’s Practice and Revision Kit contains 20 mark questions on all areas of the syllabus Questions will be based on simple s cenarios and answers must be focused and specific to the organisation Answer plans will help you to focus on the requirements of the question and enable you to manage your time effectively Answer all parts of the question. Even if you cannot do all of the calculation elements, you will still be able to gain marks in the discussion parts Make sure your answers focus on practical applications of management accounting, common sense is essential! Keep an eye out for articles as the examiner will use Student Accountant to communicate with students Read journals etc to pick up on ways in which real organisations apply management accounting and think about your own organisation if that is relevant 4 Brought forward knowledge You will need to have a good working knowledge of basic management accounting from Paper F2. Chapter 1 of this Study Text revises costing and brought forward knowledge is identified throughout the text. If you struggle with the examples and questions used to revise this knowledge, you must go back and revisit your previous work. The examiner will assume you know this material and it may form part of an exam question. x Introduction The exam paper Format of the paper The exam is a three-hour paper containing five compulsory 20 mark questions. You also have 15 minutes for reading and planning. There will be a mixture of calculations and discussion and the examiner’s aim is to cover as much of the syllabus as possible. Syllabus and Study Guide The F5 syllabus and study guide can be found on the next page. Introduction xi xii Introduction Introduction xiii xiv Introduction Introduction xv xvi Introduction Introduction xvii xviii Introduction Introduction xix Analysis of past papers The table below provides details of when each element of the syllabus has been examined and the question number in which each element appeared. Further details can be found in the Exam Focus Points in the relevant chapters. Covered in Text chapter June 2010 Dec 2009 June 2009 Pilot Paper SPECIALIST COST AND MANAGEMENT ACCOUNTING TECHNIQUES 2a 2b 2c 2d 2e 3 4 5 6 7 8 9 9 10 8 Activity based costing Target costing Life cycle costing Throughput accounting Environmental accounting DECISION-MAKING TECHNIQUES Cost-volume-profit analysis Multi-limiting factors and the use of linear programming and shadow pricing Pricing decisions Make-or-buy and other short-term decisions Dealing with risk and uncertainty in decision-making BUDGETING Objectives Budgetary systems Types of budget Quantitative analysis in budgeting Behavioural aspects of budgeting STANDARD COSTING AND VARIANCE ANALYSIS 11 12 12 13 13 14 15 16 Budgeting and standard costing Basic variances and operating systems Material mix and yield variances Planning and operational variances Behavioural aspects of standard costing PERFORMANCE MEASUREMENT AND CONTROL The scope of performance measurement Divisional performance and transfer pricing Performance analysis in not-for-profit organisations and the public sector 4 4 2 4 2 2 1 1 3 2 2 5 3 5 3 3 1, 4 4 4 1 1 2 1 xx Introduction Exam formulae Set out below are the formulae you will be given in the exam. If you are not sure what the symbols mean, or how the formulae are used, you should refer to the appropriate chapter in this Study Text. Chapter in Study Text Learning curve Y = axb Where Y a x b LR = cumulative average time per unit to produce x units = the time taken for the first unit of output = the cumulative number of units = the index of learning (log LR/log 2) = the learning rate as a decimal 10 Regression analysis y = a + bx b= a= 10 n ? xy ? ? x ? y n ? x 2 ? (? ) 2 ?y b? x ? n n (n? x 2 ? (? x)2 )(n? y 2 ? (? y)2 ) 5 r= n? xy ? ? x ? y Demand curve P b a = a – bQ = change in price change in quantity = price when Q = 0 MR = a – 2bQ Introduction xxi xxii Introduction P A R T A Specialist cost and management accounting techniques 1 2 Costing Topic list 1 Costing 2 The problem of overheads 3 A revision of absorption costing 4 Ov erhead absorption 5 Marginal costing 6 Absorption costing and marginal costing compared Introduction Part A of this Study Text looks at specialist cost and management accounting techniques. This chapter serves as a revision of concepts you will have covered in your previous studies. In the following chapter we will be looking at more complex techniques so it is important that you are familiar with the key concepts and terminology in this chapter. If you want to get free study material of CAT, ACCA, CIMA, CFA, CIA visit : freefor911. wordpress. com 3 Exam guide This chapter serves as an introduction to your study of cost and management accounting techniques, as knowledge is assumed from Paper F2 Management Accounting and is still examinable at this level. Questions in this paper will focus on interpretation rather than doing calculations. 1 Costing FAST FORWARD Costing is the process of determining the costs of products, services or activities. Cost accounting is used to determine the cost of products, jobs or services (whatever the organisation happens to be involved in). Such costs have to be built up using a process known as cost accumulation. In your earlier studies you will have learnt how to accumulate the various cost elements which make up total cost. Absorption costing cost accumulation system 2 The problem of overheads FAST FORWARD Indirect costs, or overheads, are costs incurred in making a product or providing a service, but which cannot be traced directly to the product or service. Absorption costing is a means of incorporating a fair share of these costs into the cost of a unit of product or service provided. If a company manufactures a product, the cost of the product will include the cost of the raw materials and components used in it and cost of the labour effort required to make it. These are direct costs of the product. The company would, however, incur many other costs in making the product, which are not directly attributable to a single product, but which are incurred generally in the process of manufacturing a large number of product units. These are indirect costs or overheads. Such costs include the following. †¢ †¢ Factory rent and rates Machine depreciation †¢ †¢ Supervision costs Heating and lighting 4 1: Costing ? Part A Specialist cost and management accounting techniques Key terms A direct cost is a cost that can be traced in full to the product, service or department that is being costed. An indirect cost or overhead is a cost that is incurred in the course of making a product, providing a service or running a department, but which cannot be traced directly and in full to the product, service or department. In some companies, the overheads cost might greatly exceed the direct production costs. It might seem unreasonable to ignore indirect costs entirely when accumulating the costs of making a product, and yet there cannot be a completely satisfactory way of sharing out indirect costs between the many different items of production which benefit from them. 2. Using absorption costing to deal with the problem of overheads Traditionally, the view has been that a fair share of overheads should be added to the cost of units produced. This fair share will include a portion of all production overhead expenditure and possibly administration and marketing overheads too . This is the view embodied in the principles of absorption costing. 2. 1. 1 Theoretical justification for using absorption costing All production overheads are incurred in the production of the organisation’s output and so each unit of the product receives some benefit from these costs. Each unit of output should therefore be charged with some of the overhead costs. 2. 1. 2 Practical reasons for using absorption costing (a) Inventory valuations Inventory in hand must be valued for two reasons. i) (ii) For the closing inventory figure in the statement of financial position For the cost of sales figure in the income statement The valuation of inventories will affect profitability during a period because of the way in which the cost of sales is calculated. Cost of goods sold = (b) Pricing decisions Many companies attempt to set selling prices by calculating the full cost of production or sales of each product, and then adding a margin for profit. ‘Full cost plus pricingâ €™ can be particularly useful for companies which do jobbing or contract work, where each job or contract is different, so that a standard unit sales price cannot be fixed. Without using absorption costing, a full cost is difficult to ascertain. c) Establishing the profitability of different products This argument in favour of absorption costing states that if a company sells more than one product, it will be difficult to judge how profitable each individual product is, unless overhead costs are shared on a fair basis and charged to the cost of sales of each product. cost of goods produced + the value of opening inventories – the value of closing inventories 2. 2 Using marginal costing to deal with the problem of overheads For many purposes absorption costing is less useful as a costing method than marginal costing. In some situations, absorption costing can be misleading in the information it supplies. Advocates of marginal costing take the view that only the variable costs of making and selling a product or service should be identified. Fixed costs should be dealt with separately and treated as a cost of the accounting period rather than shared out somehow between units produced. Some overhead costs are, Part A Specialist cost and management accounting techniques ? 1: Costing 5 however, variable costs which increase as the total level of activity rises and so the marginal cost of production and sales should include an amount for variable overheads. 3 A revision of absorption costing FAST FORWARD Absorption costing is a traditional approach to dealing with overheads, involving three stages: allocation, apportionment and absorption. Apportionment has two stages, general overhead apportionment and service department cost apportionment. Key term Absorption costing is a method of product costing which aims to include in the total cost of a product (unit, job and so on) an appropriate share of an organisation’s total overhead, which is generally taken to mean an amount which reflects the amount of time and effort that has gone into producing the product. You should have covered absorption costing in your earlier studies. We will therefore summarise the simpler points of the topic but will go into some detail on the more complex areas to refresh your memory. Knowledge brought forward from earlier studies Absorption costing †¢ †¢ Product costs are built up using absorption costing by a process of allocation, apportionment and overhead absorption. Allocation is the process by which whole cost items are charged directly to a cost unit or cost centre. Direct costs are allocated directly to cost units. Overheads clearly identifiable with cost centres are allocated to those cost centres but costs which cannot be identified with one particular cost centre are allocated to general overhead cost centres. The cost of a warehouse security guard would therefore be charged to the warehouse cost centre but heating and lighting costs would be charged to a general overhead cost centre. The first stage of overhead apportionment involves sharing out (or apportioning) the overheads within general overhead cost centres between the other cost centres using a fair basis of apportionment (such as floor area occupied by each cost centre for heating and lighting costs). The second stage of overhead apportionment is to apportion the costs of service cost centres (both directly allocated and apportioned costs) to production cost centres. The final stage in absorption costing is the absorption into product costs (using overhead absorption rates) of the overheads which have been allocated and apportioned to the production cost centres. Costs allocated and apportioned to non-production cost centres are usually deducted from the full cost of production to arrive at the cost of sales. †¢ †¢ †¢ †¢ Question Cost apportionment Briefly discuss the type of factors which could affect the choice of the bases an organisation can use to apportion service department costs. 6 1: Costing ? Part A Specialist cost and management accounting techniques Answer (a) (b) (c) (d) (e) The type of service being provided The amount of overhead expenditure involved The number of departments benefiting from the service The ability to be able to produce realistic estimates of the usage of the service The resulting costs and benefits Question More cost apportionment A company is preparing its production overhead budgets and determining the apportionment of those overheads to products. Cost centre expenses and related information have been budgeted as follows. Total $ 78,560 16,900 16,700 2,400 8,600 3,400 40,200 402,000 100 35,000 25,200 45,000 Machine shop A $ 8,586 6,400 Machine shop B $ 9,190 8,700 Assembly $ 15,674 1,200 Canteen $ 29,650 600 Maintenance $ 15,460 – Indirect wages Consumable materials Rent and rates Buildings insurance Power Heat and light Depreciation (machinery) Value of machinery Power usage (%) Direct labour (hours) Machine usage (hours) Area (sq ft) Required 201,000 55 8,000 7,200 10,000 179,000 40 6,200 18,000 12,000 22,000 3 20,800 – 15,000 – – – – 6,000 – 2 – – 2,000 Using the direct apportionment to production departments method and bases of apportionment which you consider most appropriate from the information provided, calculate overhead totals for the three production departments. Answer Total $ Indirect wages 78,560 Consumable materials 16,900 Rent and rates 16,700 Insurance 2,400 8,600 Power Heat and light 3,400 Depreciation 40,200 166,760 Reallocate – Reallocate – Totals 166,760 A $ 8,586 6,400 3,711 533 4,730 756 20,100 44,816 7,600 4,752 57,168 B $ 9,190 8,700 4,453 640 3,440 907 17,900 45,230 5,890 11,880 63,000 Assembly $ 15,674 1,200 5,567 800 258 1,133 2,200 26,832 19,760 – 46,592 MainCanteen tenance $ $ 29,650 15,460 600 – 2,227 742 320 107 – 172 453 151 – – 33,250 16,632 (33,250) – – (16,632) – – Basis of apportionment Actual Actual Area Area Usage Area Val of mach Direct labour Mach usage Part A Specialist cost and management accounting techniques ? 1: Costing 7 4 Overhead absorption FAST FORWARD After apportionment, overheads are absorbed into products using an appropriate absorption rate based on budgeted costs and budgeted activity levels. Having allocated and/or apportioned all overheads, the next stage in absorption costing is to add them to, or absorb them into, the cost of production or sales. 4. 1 Use of a predetermined absorption rate Knowledge brought forward from earlier studies Step 1 Step 2 Step 3 The overhead likely to be incurred during the coming year is estimated. The total hours, units or direct costs on which the overhead absorption rates are based (activity levels) are estimated. Absorption rate = estimated overhead ? budgeted activity level 4. 2 Choosing the appropriate absorption base Question Absorption bases List as many possible bases of absorption (or ‘overhead recovery rates’) as you can think of. Answer (a) (b) (c) (d) (e) (f) (g) (h) A percentage of direct materials cost A percentage of direct labour cost A percentage of prime cost A percentage of factory cost (for administration overhead) A percentage of sales or factory cost (for selling and distribution overhead) A rate per machine hour A rate per direct labour hour A rate per unit The choice of an absorption basis is a matter of judgement and common sense. There are no strict rules or formulae involved. But the basis should realistically reflect the characteristics of a given cost centre, avoid undue anomalies and be ‘fair’. The choice will be significant in determining the cost of individual products, but the total cost of production overheads is the budgeted overhead expenditure, no matter what basis of absorption is selected. It is the relative share of overhead costs borne by individual products and jobs which is affected. Question Absorption rates Using the information in and the results of the question on page 7, determine budgeted overhead absorption rates for each of the production departments using appropriate bases of absorption. 8 1: Costing ? Part A Specialist cost and management accounting techniques Answer Machine shop A: Machine shop B: Assembly: $57,168/7,200 = $7. 94 per machine hour $63,000/18,000 = $3. 50 per machine hour $46,592/20,800 = $2. 24 per direct labour hour 4. 3 Over and under absorption of overheads FAST FORWARD Under-/over-absorbed overhead occurs when overheads incurred do not equal overheads absorbed. The rate of overhead absorption is based on estimates (of both numerator and denominator) and it is quite likely that either one or both of the estimates will not agree with what actually occurs. Actual overheads incurred will probably be either greater than or less than overheads absorbed into the cost of production, and so it is almost inevitable that at the end of the accounting year there will have been an over absorption or under absorption of the overhead actually incurred. †¢ †¢ Over absorption means that the overheads charged to the cost of sales are greater than the overheads actually incurred. Under absorption means that insufficient overheads have been included in the cost of sales. Suppose that the budgeted overhead in a production department is $80,000 and the budgeted activity is 40,000 direct labour hours, the overhead recovery rate (using a direct labour hour basis) would be $2 per direct labour hour. Actual overheads in the period are, say $84,000 and 45,000 direct labour hours are worked. $ Overhead incurred (actual) 84,000 90,000 Overhead absorbed (45,000 ? $2) Over-absorption of overhead 6,000 In this example, the cost of production has been charged with $6,000 more than was actually spent and so the cost that is recorded will be too high. The over-absorbed overhead will be an adjustment to the profit and loss account at the end of the accounting period to reconcile the overheads charged to the actual overhead. Question Under and over-absorption The total production overhead expenditure of the company in the questions above was $176,533 and its actual activity was as follows. Machine shop A Machine shop B Assembly Direct labour hours 8,200 6,500 21,900 Machine usage hours 7,300 18,700 – Required Using the information in and results of the previous questions, calculate the under- or over-absorption of overheads. Answer $ Actual expenditure Overhead absorbed Machine shop A Machine shop B Assembly $ 176,533 ,300 hrs ? $7. 94 18,700 hrs ? $3. 50 21,900 hrs ? $2. 24 57,962 65,450 49,056 172,468 4,065 Under-absorbed overhead Part A Specialist cost and management accounting techniques ? 1: Costing 9 4. 4 The reasons for under-/over-absorbed overhead The overhead absorption rate is predetermined from budget estimates of overhead cost and activity level. Under or over recovery of overhead will occur in the following circumstances. †¢ †¢ †¢ Actual overhead costs are different from budgeted overheads. The actual activity level is different from the budgeted activity level. Actual overhead costs and actual activity level differ from those budgeted. Question Over and under-absorption Elsewhere has a budgeted production overhead of $180,000 and a budgeted activity of 45,000 machine hours. Required Calculate the under-/over-absorbed overhead, and note the reasons for the under-/over-absorption in the following circumstances. (a) (b) (c) Actual overheads cost $170,000 and 45,000 machine hours were worked. Actual overheads cost $180,000 and 40,000 machine hours were worked. Actual overheads cost $170,000 and 40,000 machine hours were worked. Answer The overhead recovery rate is $180,000/45,000 = $4 per machine hour. (a) Actual overhead Absorbed overhead (45,000 ? $4) Over-absorbed overhead $ 170,000 180,000 10,000 Reason: Actual and budgeted machine hours are the same but actual overheads cost less than expected. (b) Actual overhead Absorbed overhead (40,000 ? $4) Under-absorbed overhead $ 180,000 160,000 20,000 Reason: Budgeted and actual overhead costs were the same but fewer machine hours were worked than expected. $ (c) Actual overhead 170,000 160,000 Absorbed overhead (40,000 ? $4) Under-absorbed overhead 10,000 Reason: A combination of the reasons in (a) and (b). 10 1: Costing ? Part A Specialist cost and management accounting techniques 5 Marginal costing FAST FORWARD In marginal costing, inventories are valued at variable production cost whereas in absorption costing they are valued at their full production cost. Marginal cost is the cost of one unit of a product/service which could be avoided if that unit were not produced/provided. Contribution is the difference between sales revenue and variable (marginal) cost of sales. Marginal costing is an alternative to absorption costing. Only variable costs (marginal costs) are charged as a cost of sales. Fixed costs are treated as period costs and are charged in full against the profit of the period in which they are incurred. Knowledge brought forward from earlier studies Key terms Marginal costing †¢ In marginal costing, closing inventories are valued at marginal (variable) production cost whereas, in absorption costing, inventories are valued at their full production cost which includes absorbed fixed production overhead. If the opening and closing inventory levels differ, the profit reported for the accounting period under the two methods of cost accumulation will therefore be different. But in the long run, total profit for a company will be the same whichever is used because, in the long run, total costs will be the same by either method of accounting. Different accounting conventions merely affect the profit of individual periods. †¢ †¢ Question Absorption and marginal costing A company makes and sells a single product. At the beginning of period 1, there are no opening inventories of the product, for which the variable production cost is $4 and the sales price $6 per unit. Fixed costs are $2,000 per period, of which $1,500 are fixed production costs. Normal output is 1,500 units per period. In period 1, sales were 1,200 units, production was 1,500 units. In period 2, sales were 1,700 units, production was 1,400 units. Required Prepare profit statements for each period and for the two periods in total using both absorption costing and marginal costing. Answer It is important to notice that although production and sales volumes in each period are different, over the full period, total production equals sales volume. The total cost of sales is the same and therefore the total profit is the same by either method of accounting. Differences in profit in any one period are merely timing differences which cancel out over a longer period of time. Part A Specialist cost and management accounting techniques ? 1: Costing 11 (a) Absorption costing. The absorption rate for fixed production overhead is $1,500/1,500 units = $1 per unit. The fully absorbed cost per unit = $(4+1) = $5. $ Sales Production costs Variable Fixed Add opening inventory b/f Less closing inventory c/f Production cost of sales Under-absorbed o/hd Total costs Gross profit Other costs Net profit (300? $5) (300? $5) Period 1 $ 7,200 $ Period 2 $ 10,200 Total $ $ 17,400 6,000 1,500 7,500 – 7,500 1,500 6,000 – 6,000 1,200 (500) 700 5,600 1,400 7,000 1,500 8,500 – 8,500 100 8,600 1,600 (500) 1,100 1,600 2,900 14,500 1,500 16,000 1,500 14,500 100 14,600 2,800 (1,000) 1,800 (b) Marginal costing The marginal cost per unit = $4. Sales Variable production cost Add opening inventory b/f Less closing inventory c/f Variable prod. cost of sales Contribution Fixed costs Profit Period 1 $ 7,200 6,000 – 6,000 1,200 4,800 2,400 2,000 400 $ Period 2 $ 10,200 5,600 1,200 6,800 – 6,800 3,400 2,000 1,400 $ Total $ 11,600 1,200 12,800 1,200 11,600 5,800 4,000 1,800 $ 17,400 (300? $4) (300? $4) Question Direct labour Direct materials Production overhead Standard production cost per unit 3 hours at $6 per hour 4 kilograms at $7 per kg Variable Fixed Marginal and absorption costing $ 18 28 3 20 69 RH makes and sells one product, which has the following standard production cost. Normal output is 16,000 units per annum. Variable selling, distribution and administration costs are 20 per cent of sales value. Fixed selling, distribution and administration costs are $180,000 per annum. There are no units in finished goods inventory at 1 October 20X2. The fixed overhead expenditure is spread evenly throughout the year. The selling price per unit is $140. Production and sales budgets are as follows. Six months ending Six months ending 31 March 20X3 30 September 20X3 Production 8,500 7,000 Sales 7,000 8,000 12 1: Costing ? Part A Specialist cost and management accounting techniques Required Prepare profit statements for each of the six-monthly periods, using the following methods of costing. (a) (b) Marginal costing Absorption costing Answer (a) Profit statements for the year ending 30 September 20X3 Marginal costing basis Six months ending 31 March 20X3 $’000 $’000 Sales at $140 per unit 980 Opening inventory – Std. variable prod. cost (at $49 per unit) 416. 5 416. 5 Closing inventory (W1) 73. 5 343 637 Variable selling and so on costs 196 Contribution 441 Fixed costs: production (W2) 160 selling and so on 90 250 Net profit 191 Profit statements for the year ending 30 September 20X3 Absorption costing basis Six months ending 31 March 20X3 $’000 $’000 Sales at $140 per unit 980 Opening inventory – Std. cost of prod. at $69 per unit) Closing inventory (W1) (Over-)/under-absorbed overhead (W3) Gross profit Selling and so on costs Variable Fixed Net profit 586. 5 586. 5 103. 5 483. 0 (10. 0) 473 507 196 90 286 221 224 90 3 14 234 Six months ending 30 September 20X3 $’000 $’000 1,120 73. 5 343. 0 416. 5 24. 5 392 728 224 504 160 90 250 254 (b) Six months ending 30 September 20X3 $’000 $’000 1,120 103. 5 483. 0 586. 5 34. 5 552. 0 20. 0 572 548 Part A Specialist cost and management accounting techniques ? 1: Costing 13 Workings 1 Opening inventory Production Sales Closing inventory Marginal cost valuation (? $49) Absorption cost valuation (? $69) 2 3 Normal output (16,000 ? 2) Budgeted output Difference ? std. ixed prod. o/hd per unit (Over-)/under-absorbed overhead Six months ending 31 March 20X3 Units – 8,500 8,500 7,000 1,500 $73,500 $103,500 Six months ending 30 September 20X3 Units 1,500 7,000 8,500 8,000 500 $24,500 $34,500 Budgeted fixed production o/hd = 16,000 units ? $20 = $320,000 pa = $160,000 per six months Six months ending 31 March 20X3 8,000 units units 8,500 500 units ? $20 ($10,000) Six months ending 30 September 20X3 8,000 units 7,000 units 1,000 uni ts ? $20 $20,000 6 Absorption costing and marginal costing compared FAST FORWARD If opening and closing inventory levels differ profit reported under the two methods will be different. In the long run, total profit will be the same whatever method is used. 6. 1 Reconciling the profit figures given by the two methods The difference in profits reported under the two costing systems is due to the different inventory valuation methods used. (a) If inventory levels increase between the beginning and end of a period, absorption costing will report the higher profit because some of the fixed production overhead incurred during the period will be carried forward in closing inventory (which reduces cost of sales) to be set against sales revenue in the following period instead of being written off in full against profit in the period concerned. If inventory levels decrease, absorption costing will report the lower profit because as well as the fixed overhead incurred, fixed production overhead which had been carried forward in opening inventory is released and is also included in cost of sales. (b) 6. 2 Example: Reconciling profits The profits reported for period 1 in the question on page 11 would be reconciled as follows. Marginal costing profit Adjust for fixed overhead in inventory (inventory increase of 300 units ? $1 per unit) Absorption costing profit $ 400 300 700 Exam focus point Remember that if opening inventory values are greater than closing inventory values, marginal costing shows the greater profit. 14 1: Costing ? Part A Specialist cost and management accounting techniques 6. 3 Marginal versus absorption costing: reporting to management FAST FORWARD Marginal costing is more useful for decision-making purposes, but absorption costing is needed for financial reporting purposes to comply with accounting standards. We know that the reported profit in any period is likely to differ according to the costing method used, but does one method provide a more reliable guide to management about the organisation’s profit position? With marginal costing, contribution varies in direct proportion to the volume of units sold. Profits will increase as sales volume rises, by the amount of extra contribution earned. Since fixed cost expenditure does not alter, marginal costing gives an accurate picture of how a firm’s cash flows and profits are affected by changes in sales volumes. With absorption costing, in contrast, there is no clear relationship between profit and sales volume, and as sales volume rises the total profit will rise by the sum of the gross profit per unit plus the amount of overhead absorbed per unit. Arguably this is a confusing and unsatisfactory method of monitoring profitability. If sales volumes are the same from period to period, marginal costing reports the same profit each period (given no change in prices or costs). In contrast, using absorption costing, profits can vary with the volume of production, even when the volume of sales is constant. Using absorption costing there is therefore the possibility of manipulating profit, simply by changing output and inventory levels. 6. 4 Example: Manipulating profits Gloom Co budgeted to make and sell 10,000 units of its product in 20X1. The selling price is $10 per unit and the variable cost $4 per unit. Fixed production costs were budgeted at $50,000 for the year. The company uses absorption costing and budgeted an absorption rate of $5 per unit. During 20X1, it became apparent that sales demand would only be 8,000 units. The management, concerned about the apparent effect of the low volume of sales on profits, decided to increase production for the year to 15,000 units. Actual fixed costs were still expected to be $50,000 in spite of the significant increase in production volume. Required Calculate the profit at an actual sales volume of 8,000 units, using the following methods. (a) (b) Absorption costing Marginal costing Explain the difference in profits calculated. Solution (a) Absorption costing Sales (8,000 ? $10) Cost of production (15,000 ? $9) Less: over-absorbed overhead (5,000 ? $5) $ 135,000 (25,000) (110,000) (30,000) 63,000 33,000 $ 80,000 Closing inventory (7,000 ? $9) Profit Part A Specialist cost and management accounting techniques ? 1: Costing 15 (b) Marginal costing Sales Cost of sales Cost of production (15,000 ? $4) Closing inventory (7,000 ? $4) Contribution Fixed costs Loss $ $ 80,000 0,000 ((28,000) 32,000 48,000 50,000 (2,000) The difference in profits of $35,000 is explained by the difference in the increase in inventory values (7,000 units ? $5 of fixed overhead per unit). With absorption costing, the expected profit will b e higher than the original budget of $10,000 (10,000 units ? ($10 – 9)) simply because $35,000 of fixed overheads will be carried forward in closing inventory values. By producing to absorb overhead rather than to satisfy customers, inventory levels will, of course, increase. Unless this inventory is sold, however, there may come a point when production has to stop and the inventory has to be sold off at lower prices. Marginal costing would report a contribution of $6 per unit, or $48,000 in total for 8,000 units, which fails to cover the fixed costs of $50,000 by $2,000. The argument above is not conclusive, however, because marginal costing is not so useful when sales fluctuate from month to month because of seasonal variations in sales demand, but production per month is held constant in order to arrange for an even flow of output (and thereby prevent the cost of idle resources in periods of low demand and overtime in periods of high demand). Question Absorption v marginal costing A clothing manufacturer makes a specific brand of jeans which it sells at a standard price of $100 per pair. The manufacturer’s costs are as follows. Standard variable production cost: $16 per pair Total fixed production cost per month: $240,000 (10,000 pairs are planned to be produced per month) Total fixed non-production costs: $300,000 per month In Month 1, when the opening inventory is 1,000 pairs, production of 10,000 pairs is planned and sales of 8,000 pairs are expected. In Month 2, sales are planned to be 9,000 pairs and production is still 10,000 pairs. Required (a) What would be the net profit for Months 1 and 2 under (i) (ii) (b) Absorption costing Marginal costing What comments could you make about the performance of this business? 16 1: Costing ? Part A Specialist cost and management accounting techniques Answer (a) Absorption standard cost per unit = $16 + 240,000/10,000 = $40 Absorption costing Month 1 Month 2 $’000 $’000 $’000 $’000 800 900 Marginal costing Month 1 Month 2 $’000 $’000 $’000 $’000 800 900 Sales 8,000 @$100 Cost of sales Opening inventory (1,000 @ $40) Production (10,000 @ $40) Less: closing inventory* (3,000 @ $40) Gross profit Contribution Less other costs Fixed production Fixed non-production 40 400 (120) (320) 480 120 400 (160) (360) 540 1,000 @ $16 10,000 @ $16 3,000 @ $16 16 160 (48) (128) 672 (240) (300) 48 160 (64) (144) 756 (240) (300) (300) 180 (300) 240 (540) 132 (540) 216 * Closing inventory = 1,000 + 10,000 – 8,000 (b) The absorption costing net profit is higher than the marginal costing net profit in both months because inventories are rising. Under absorption costing, where inventories are increasing, a greater amount of the fixed production cost is carried forward n the closing inventory valuation than was brought forward in the opening inventory valuation. This means that the impact of these costs on profit is delayed under absorption costing. Under marginal costing, the full impact of the fixed production costs on profit is immediate. The busin ess is profitable and sales have increased. However, a build up of inventories in the clothing manufacturing industry is unwise as demand is subject to tastes and fashion. The business needs to respond rapidly to changes in demand or it will become rapidly uncompetitive. Part A Specialist cost and management accounting techniques ? 1: Costing 17 Chapter Roundup †¢ †¢ Costing is the process of determining the costs of products, services or activities. Indirect costs, or overheads, are costs incurred in making a product or providing a service, but which cannot be traced directly to the product or service. Absorption costing is a means of incorporating a fair share of these costs into the cost of a unit of product or service provided. Absorption costing is a traditional approach to dealing with overheads, involving three stages: allocation, apportionment and absorption. Apportionment has two stages, general overhead apportionment and service department cost apportionment. After apportionment, overheads are absorbed into products using an appropriate absorption rate based on budgeted costs and budgeted activity levels. Under-/over-absorbed overhead occurs when overheads incurred do not equal overheads absorbed. In marginal costing, inventories are valued at variable production cost whereas in absorption costing they are valued at their full production cost. If opening and closing inventory levels differ profit reported under the two methods will be different. In the long run, total profit will be the same whatever method is used. †¢ Marginal costing is more useful for decision-making purposes, but absorption costing is needed for financial reporting purposes to comply with accounting standards. †¢ †¢ †¢ †¢ †¢ †¢ 18 1: Costing ? Part A Specialist cost and management accounting techniques Quick Quiz 1 Here are some terms you should have encountered in your earlier studies. Match the term to the definition. Terms Direct cost Prime cost Overhead Classification by function Fixed cost Variable cost Product cost Avoidable cost Controllable cost Relevant cost Cost centre Cost unit (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) (l) 2 3 Definitions (a) Specific costs of, say, an activity, which would not be incurred if the activity did not exist Total of direct costs Future cash flow which will be changed as the result of a decision Product produced by an organisation Dividing costs into production, administration, selling and distribution, research and development and financing costs Cost that can be traced in full to whatever is being costed Organisation’s departments A cost that varies with the level of output A cost that is incurred in the course of making a product but which cannot be traced directly and in full to the product Cost that is incurred for a particular period of time and which, within certain activity levels, is unaffected by changes in the level of activity Cost identified w ith goods produced or purchased for resale and initially included in the value of inventory Cost which can be influenced by management decisions and actions †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ is the process of determining the costs of products, activities or services. How is an overhead absorption rate calculated? A B C D Estimated overhead ? actual activity level Estimated overhead ? budgeted activity level Actual overhead ? actual activity level Actual overhead ? budgeted activity level 4 Over absorption means that the overheads charged to the cost of sales are greater than the overheads actually incurred. True False 5 Fill in the blanks in the statements about marginal costing and absorption costing below. (a) (b) If inventory levels †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ between the beginning and end of a period, absorption costing will report the higher profit. If inventory levels decrease, †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ costing will report the lower profit. 6 Fill in the following blanks with either ‘marginal’ or ‘absorption’. (a) (b) (c) (d) (e) Using †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ costing, profits can be manipulated simply by changing output and inventory levels. Fixed costs are charged in full against the profit of the period in which they are incurred when †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ costing is used. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ costing fails to recognise the importance of working to full capacity. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ costing could be argued to be preferable to †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ costing in management accounting in order to be consistent with the requirements of accounting standards. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ costing should not be used when decision-making information is required. Part A Specialist cost and management accounting techniques ? 1: Costing 19 Answers to Quick Quiz 1 Direct cost Prime cost Overhead Classification by function Fixed cost Variable cost Product cost Avoidable cost Controllable cost Relevant cost Cost centre Cost unit Costing B True (a) (b) (a) (b) (c) (d) (e) Increase Absorption absorption marginal marginal absorption, marginal absorption (f) (b) (i) (e) (j) (h) (k) (a) (l) (c) (g) (d) 2 3 4 5 6 Now try the questions below from the Exam Question Bank Number Q1 Level Introductory Marks 10 Time 18 mins 20 1: Costing ? Part A Specialist cost and management accounting techniques Activity based costing Topic list 1 Activity based costing 2 Absorption costing versus ABC 3 Merits and criticisms of ABC Syllabus reference A1 (a), (b) A1 (c) A1 (c) Introduction Chapter 2 covers Part A of the syllabus, specialist cost and management accounting techniques. It has been divided into five sub-chapters to reflect the examiner’s emphasis that all five techniques are equally important and equally examinable. In this chapter we will be looking at the first alternative method of cost accumulation, activity based costing (ABC). ABC is a modern alternative to absorption costing which attempts to overcome the problems of costing in a modern manufacturing environment. If you want to get free study material of CAT, ACCA, CIMA, CFA, CIA visit : freefor911. wordpress. com 21 Study guide Intellectual level A1 (a) (b) (c) Activity based costing Identify appropriate cost drivers under ABC Calculate costs per driver and per unit using ABC Compare ABC and traditional methods of overhead absorption based on production units, labour hours or machine hours 1 2 2 Exam guide There was a question on ABC in the Pilot Paper for F5. It was also examined in June 2008 and June 2010 and is therefore a crucial topic to understand. 1 Activity based costing FAST FORWARD /08, 6/10 An alternative to absorption costing is activity based costing (ABC). ABC involves the identification of the factors (cost drivers) which cause the costs of an organisation’s major activities. Support overheads are charged to products on the basis of their usage of an activity. †¢ †¢ For costs that vary with production level in the short term, the cost driver will be volume related (labour or machine hours). Overheads that vary with some other activity (and not volume of production) should be traced to products using transaction-based cost drivers such as production runs or number of orders received. 1. 1 Reasons for the development of ABC The traditional cost accumulation system of absorption costing was developed in a time when most organisations produced only a narrow range of products (so that products underwent similar operations and consumed similar proportions of overheads). And overhead costs were only a very small fraction of total costs, direct labour and direct material costs accounting for the largest proportion of the costs. The benefits of more accurate systems for overhead allocation would probably have been relatively small. In addition, information processing costs were high. In recent years, however, there has been a dramatic fall in the costs of processing information. And, with the advent of advanced manufacturing technology (AMT), overheads are likely to be far more important and in fact direct labour may account for as little as 5% of a product’s cost. It therefore now appears difficult to justify the use of direct labour or direct material as the basis for absorbing overheads or to believe that errors made in attributing overheads will not be significant. Many resources are used in non-volume related support activities, (which have increased due to AMT) such as setting-up, production scheduling, inspection and data processing. These support activities assist the efficient manufacture of a wide range of products and are not, in general, affected by changes in production volume. They tend to vary in the long term according to the range and complexity of the products manufactured rather than the volume of output. The wider the range and the more complex the products, the more support services will be required. Consider, for example, factory X which produces 10,000 units of one product, the Alpha, and factory Y which produces 1,000 units each of ten slightly different versions of the Alpha. Support activity costs in the factory Y are likely to be a lot higher than in factory X but the factories produce an identical number of units. For example, factory X will only need to set-up once whereas Factory Y will have to set-up the 22 2a: Activity based costing ? Part A Specialist cost and management accounting techniques production run at least ten times for the ten different products. Factory Y will therefore incur more set-up costs for the same volume of production. Traditional costing systems, which assume that all products consume all resources in proportion to their production volumes, tend to allocate too great a proportion of overheads to high volume products (which cause relatively little diversity and hence use fewer support services) and too small a proportion of overheads to low volume products (which cause greater diversity and therefore use more support services). Activity based costing (ABC) attempts to overcome this problem. 1. Definition of ABC Key term Activity based costing (ABC) involves the identification of the factors which cause the costs of an organisation’s major activities. Support overheads are charged to products on the basis of their usage of the factor causing the overheads. The major ideas behind activit y based costing are as follows. (a) (b) (c) Activities cause costs. Activities include ordering, materials handling, machining, assembly, production scheduling and despatching. Producing products creates demand for the activities. Costs are assigned to a product on the basis of the product’s consumption of the activities. 1. 3 Outline of an ABC system An ABC system operates as follows. Step 1 Step 2 Key term Identify an organisation’s major activities. Identify the factors which determine the size of the costs of an activity/cause the costs of an activity. These are known as cost drivers. A cost driver is a factor which causes a change in the cost of an activity. Look at the following examples. Costs Ordering costs Materials handling costs Production scheduling costs Despatching costs Possible cost driver Number of orders Number of production runs Number of production runs Number of despatches Step 3 Step 4 Collect the costs associated with each cost driver into what are known as cost pools. Charge costs to products on the basis of their usage of the activity. A product’s usage of an activity is measured by the number of the activity’s cost driver it generates. Question Which of the following definitions best describes a cost driver? A B C D Any activity which causes an increase in costs A collection of costs associated with a particular activity A cost that varies with production levels Any factor which causes a change in the cost of an activity Cost driver Part A Specialist cost and management accounting techniques ? 2a: Activity based costing 23 Answer D Any factor which causes a change in the cost of an activity. Exam focus point ABC is a popular exam topic. Questions on activity based costing often require a comparison with more traditional methods. The implications for the business of each approach is often required. 2 Absorption costing versus ABC 6/08, 6/10 The following example illustrates the point that traditional cost accounting techniques result in a misleading and inequitable division of costs between low-volume and high-volume products, and that ABC can provide a more meaningful allocation of costs. 2. 1 Example: Activity based costing Suppose that Cooplan manufactures four products, W, X, Y and Z. Output and cost data for the period just ended are as follows. Number of production runs in the Material cost Direct labour Machine Output units period per unit hours per unit hours per unit $ W 10 2 20 1 1 X 10 2 80 3 3 Y 100 5 20 1 1 80 3 3 Z 100 5 14 Direct labour cost per hour $5 Overhead costs Short run variable costs Set-up costs Expediting and scheduling costs Materials handling costs Required Prepare unit costs for each product using conventional costing and ABC. $ 3,080 10,920 9,100 7,700 30,800 Solution Using a conventional absorption costing approach and an absorption rate for overheads based on either direct labour hours or machine hours, the product costs would be as follows. W $ 200 50 700 950 10 $95 X $ 800 150 2,100 3,050 10 $305 Y $ 2,000 500 7,000 9,500 100 $95 Z $ 8,000 1,500 21,000 30,500 100 $305 Total $ Direct material Direct labour Overheads * Units produced Cost per unit 4,000 * $30,800 ? 440 hours = $70 per direct labour or machine hour. 24 2a: Activity based costing ? Part A Specialist cost and management accounting tec hniques Using activity based costing and assuming that the number of production runs is the cost driver for setup costs, expediting and scheduling costs and materials handling costs and that machine hours are the cost driver for short-run variable costs, unit costs would be as follows. W $ 200 50 70 1,560 1,300 1,100 4,280 10 $428 X $ 800 150 210 1,560 1,300 1,100 5,120 10 $512 Y $ 2,000 500 700 3,900 3,250 2,750 13,100 100 $131 Z $ 8,000 1,500 2,100 3,900 3,250 2,750 21,500 100 $215 Total $ Direct material Direct labour Short-run variable overheads (W1) Set-up costs (W2) Expediting, scheduling costs (W3) Materials handling costs (W4) Units produced Cost per unit Workings 1 2 3 4 $3,080 ? 440 machine hours = $10,920 ? 14 production runs = $9,100 ? 14 production runs = $7,700 ? 14 production runs = Conventional costing unit cost $ 95 305 95 305 44,000 $7 per machine hour $780 per run $650 per run $550 per run ABC unit cost $ 428 512 131 215 Difference per unit $ + 333 + 207 + 36 – 90 Difference in total $ +3,330 +2,070 +3,600 –9,000 Summary Product W X Y Z (a) (b) The figures suggest that the traditional volume-based absorption costing system is flawed. It underallocates overhead costs to low-volume products (here, W and X) and over-allocates overheads to higher-volume products (here Z in particular). It underallocates overhead costs to smaller-sized products (here W and Y with just one hour of work needed per unit) and over allocates overheads to larger products (here X and particularly Z). 2. 2 ABC versus traditional costing methods Both traditional absorption costing and ABC systems adopt the two stage allocation process. 2. 2. 1 Allocation of overheads ABC establishes separate cost pools for support activities such as despatching. As the costs of these activities are assigned directly to products through cost driver rates, reapportionment of service department costs is avoided. 2. 2. Absorption of overheads The principal difference between the two systems is the way in which overheads are absorbed into products. (a) (b) Absorption costing most commonly uses two absorption bases (labour hours and/or machine hours) to charge overh eads to products. ABC uses many cost drivers as absorption bases (eg number of orders or despatches). Absorption rates under ABC should therefore be more closely linked to the causes of overhead costs. Part A Specialist cost and management accounting techniques ? 2a: Activity based costing 25 2. 3 Cost drivers The principal idea of ABC is to focus attention on what causes costs to increase, ie the cost drivers. a) The costs that vary with production volume, such as power costs, should be traced to products using production volume-related cost drivers, such as direct labour hours or direct machine hours. Overheads which do not vary with output but with some other activity should be traced to products using transaction-based cost drivers, such as number of production runs and number of orders received. (b) Traditional costing How to cite Acca Notes, Papers