Friday, August 23, 2019

The need for appropriate performance measures and management has been Essay

The need for appropriate performance measures and management has been a recurring theme in management and accounting over the la - Essay Example Current paper focuses on the examination of the need for appropriate performance measures and management for organizations operating in the healthcare industry; reference is made especially to the UK National Health Service. The review of the literature published in the specific field led to the assumption that the performance measures and the management policies currently used by managers in NHS cannot respond to the organization’s needs – as identified through its daily activities. Moreover, it has been made clear that the above failure is related not only to the external but also to the internal organizational environment – referring to employees of all levels. It is suggested that measures are taken for the improvement of these policies trying to keep close control on the resources engaged and the time required. 2. Performance measurement and management of hospitals and other healthcare organizations The understanding of the criteria used for measuring the pe rformance of healthcare organizations requires the reference to the characteristics and the needs of performance measurement – as a strategic tool for checking the level of achievement of organizational goals. At the same time, reference should be made to the challenges that managers face within modern organizations, as these challenges can negatively affect the quality and the effectiveness of the relevant management practices. All these issues should be also taken into consideration when evaluating the performance measurement and the management policies of NHS. 2.1 Performance measurement and management – overview, role One of the key characteristics of performance measurement is the fact that the specific activity has different forms across firms of different size and culture. This fact is made clear in the study of Taticchi (2010). In the above study emphasis is given on the limited scope of performance measurement in SMEs – implying that the effectiveness o f performance measurement in large enterprises is expected to be higher, probably because of the support provided to the individuals involved (Taticchi 2010). On the other hand, the potential barriers that performance measurement systems and plans face in SMEs cannot reduce the value of these systems as key strategic tools. Of course, in large organizations the resources available for the development of advanced management and performance measurement plans are significant; thus, in organizations of such size the effectiveness of performance measurement methods is expected to be high, a fact that will be taken into consideration further on where the effectiveness of the performance measurement systems used in NHS will be discussed. At this point it would be necessary to refer to the characteristics of performance measurement – as part of the strategic process of organizations in all industries; in accordance with Rose (2005) ‘performance measurement is the language of pr ogress for the organization’ (Rose 2005 in Taticchi 2010, p.3). In each organization, performance measurement needs to be combined with appropriate management techniques –

Thursday, August 22, 2019

Teenage Pregnancy Essay Example for Free

Teenage Pregnancy Essay Teenage pregnancy has proven itself to be a global problem that places both the mother and child at risk. This paper will examine studies about the risk factors for pregnancy in women under the age of 19 and comparing them to risk factors for women between 19 and 35 inclusively to determine if there is indeed some correlation existing between health and social issues, and teenage pregnancy. To accomplish this task, studies citing a correlation between the above mentioned issue and associated risks will be examined and evaluated to help determine if the correlation is true or spurious in order to validate or dismiss the risk assessment. Statement of the Problem Teenage pregnancy is a relevant issue because of its implied correlation to health issues, social issues, educational issues, and financial issues. It is a stigma that brings with it many repercussions that follow both the parent and the child and can place them at a disadvantage or stunt their growth potential. According one study, teenage mothers are more likely to develop health issues such as anemia, hypertension, delivering pre-term, and having underweight babies. The same study shows a correlation between poor socio-economic conditions, low literacy rates, and lack of awareness as some of the underlying factors contributing to teenage pregnancies (Mahavarkar, 2008). Literature Review Correlation is defined as a relationship in which two or more things are mutual or complementary, or one thing is caused by another. In doing a follow up case study on teenage pregnancy, Spear (2004) discovered that the majority of the studies on the subject have been â€Å"qualitative in nature with relatively few studies that examine the personal perspective and worldview of the adolescents who experience pregnancy and childbearing† (Pediatric Nursing, 30.2). Conducting studies on the subject is one matter but failing to understand and shed light on the underlying factors or repercussions is in no way advising others on how to deal with or avoid being caught in the proverbial trap of teenage pregnancy. In Mirowsky’s study he not only found that the ratio of health problems expected given first birth under age 18 versus around age 34 equals that from currently being 14 years older at age 48. He states that the risk of dying in child birth also declines with having delayed first birth well beyond the end of puberty and a comparison to non-mothers of similar age and race/ethnicity shows that the correlation of motherhood with health problems and mortality hazard switches from detrimental to beneficial with delay beyond about age 22 (Journal of Health and Social Behavior, 46.1). Talking out of context, it is easy to conclude from his findings that delaying child birth and pregnancy to an age over 22 will not only prolong life, but put us in a better position to pursue needed social, educational, and financial needs. Mirowsky also enlightens us in the same issue, of some of the medical issues faced when dealing with teenage pregnancy. These issues are more common to mothers under the age of 20 compared to mothers in their 20s or 30s, including lung disease, eclampsia, kidney disease, fevers, seizures during labor, and congenital anomalies which may result from incomplete development of the reproductive system. The study also shows that first-time teenage mothers who receive proper pre-natal cares, which are more mature, and more stable than most of their counterparts, faces a higher risk of birthing premature and low birth weight babies than older first-time mothers with the same characteristics. Not to be discounted but â€Å"mothers older than 35 or 40 have a higher probability of developing gestational diabetes, placenta previa, breech presentation, postpartum hemorrhage, birth asphyxia, delivery before 32 weeks, birth weight below the 5th percentile, down syndrome, and stillbirth† (Jou rnal of Health and Social Behavior, 46.1). One study tells us that pregnancy at any age involves developmental change, and usually this spells disaster for a teenager because â€Å"when the stress of two developmental stages, adolescence and young adulthood are compressed, successful completion of both sets of tasks is compromised† (Rodriguez, 1995). This can put both the teen mother and their children at risk for social, developmental, and psychological retardation. Rodriguez seems to have the solution for these issues. He recommends that there be a â€Å"correlation of positive father/daughter relationships with feeling good about self, and the more positive relationships with mother and father† and â€Å"family involvement, regardless of how it is defined and measured† (Rodriguez, 1995). The study done by Spear (2004) does show that some teenage mothers who are sometimes forced to grow up and face their responsibilities actually do so. Two of her subjects have moved on and have come into their own, educationally, financially and socially and based on their experience, they can advise their children on the issue at hand. Conclusion Taking into consideration the global concern for teenage pregnancy and the literature studied, it is easy to surmise that that the group is indeed at a higher risk level for medical issues, social stagnation and educational retardation. The studies show that an underdeveloped body is in no way prepared to sustain another especially when poor diet, lack of knowledge, or lack of proper medical care are the most prominent factors to contend with. Social stagnation is possible since the age of both the child and parent in such close proximity of each other. Educational retardation is also most certainly a possibility for both the child and the parent since the basic needs will most likely be centralized around food, clothing, and shelter. The studies are in no way conclusive but it sheds a great deal of light on the issue at hand and provides information that can be used as a tool for guidance in curbing the problem.

Wednesday, August 21, 2019

The IFAC code of ethics for profession accountants

The IFAC code of ethics for profession accountants Introduction Nowadays, independence is major issues to attain highest level of performances to meet the public interest requirement. (Messier et al, 2006) Therefore, International Federation of Accountants (IFAC) has its mission to provide consistently high quality of service in the public interest by continues establish and strengthen the worldwide economic development and enhancement the accountancy profession with harmonized standards. (ICEAW ¹, 2005)[Online].An IFAC Ethics Committee which also known as The International Ethics Standards Board for Accountants (IESBA) has been established by IFAC Board to develop the issues of the mission and therefore published the Code of Ethics for professional accountants to emphasize the independences and principle-based approach to its professional ethics. (IFAC ¹, 2010)[Online] The Code of Ethics for Professional Accountants (The Code) is guidance for professional accountants identify, evaluate and respond to threats in providing independent audit and assurance service. Independence in assurances services are always being discussed in the Code in terms of a principles-based approach which takes into account threats to independence, accepted safeguards and the public interest.(Rick Hayes et al,2005) It is very important since they implicitly set limit for unethical behaviour and provide guidance in auditing.( Gary Pflugrath,2007) IFAC code always focuses on the issues of independent. Auditing is virtually worthless without independent as it is referred as cornerstone of auditing. An auditors should unbiased, and unaffected by conflict of interest in their viewpoint to provide a true and fair view of the entitys audit report. (Brenda Porter, 2008) It is important to independent to avoid possible threats and access to confidential and sensitive information when carry out their work with professional and due care. Public always rely on the auditors knowledge, skills and expertise in order to form an independent opinion when providing assurance engagement. (ACCA ¹, no date)[Online] Main Report 2.1 The role of IFACs code of ethics is strengthening the independent of external auditors to provide reasonable assurance service. With comply with fundamental principles and the conceptual of framework, the Code can provides information that is more confidential and reliable in public practise while maintaining professional competence and independence. (Graham W.Cosserat, 2009) .These fundamental principles fulfil their obligation for public interest and achieve objective of accounting profession. The conceptual framework of professional conduct and ethics also provided to identify evaluate and respond to threats with compliance with the fundamental principles are not compromised. (ICAEW ¹, 2005)[Online]. The Code also prohibiting members from incompatible activities like allowing commission or brokerage that soliciting clients or encroaching upon other members work. (Emmanouil Dedoulis, 2006) For positive aspect, the code of ethics provides high quality standards and strong professional accounting to serve public interest in a transparent, efficient, and effective manner. Independence plays a vital role for truthfulness and confidentiality financial reporting to investor to serve public interest. (IFAC ², 2004) [Online]. As the public interest continually increase in demand, the revised Code of Ethics has been issued and maintain in principles-based approach to strengthen independent requirement. The revised code is regarding the ethical responsibilities of the auditors who encounter illegal acts and fraud by developing additional guidance. Newer safeguard also has been applied into the revised safeguard to provide guidance for more quality framework from professional accountants. (IFAC ³, 2008)[Online] The revised code is addressing relationships and previous and current interest which related to new entity that may affect independence. Relationship and interest may create significant threats that objectivity could be compromised. (IFACà ¢Ã‚ Ã‚ ´, 2009)[Online] Apart from that, Mr. George has point out that the Code also helps in facilitate the global harmonisations. (IFACà ¢Ã‚ Ã‚ µ, 2010)[Online].Global harmonisation is important because it is to reduce complexity and provides decisive strategic for future global capitals market. It provides greater confidence and sensitive in reliable and transparent information for individual companies. Therefore, it needs high quality accounting framework to develop the truly global set of the standards.(PWC,2007)[Online] Independence helps to provide high quality work which are meeting the information needs for capital market to allow the market operate efficiency, smoothly and effectively. This has improves the ability for investor and stakeholders to global basis to achieves substantial benefits from capitals market and lowers their risk and error of judgement. (ACCA ², 2006) [Online] On the other hand, the revised code of ethics has its negative side. It takes times to adopt the revised Code of ethics as all the professional accountants needs to absorb new information, knowledge, technical and skills in order to strengthen up the requirement of independent. It is also need to incur extra costs to provide training and preparation to adopt the newer information and requirement. Besides that, it needs to have extra communication for clearly understood all the requirement involving in revised Code of Ethics to minimise uncertainty and confusion. (ACCA ², 2006) [Online] The practice of professional accounting may create loopholes activities which may discredit the profession. Independent of profession accountants will hard to resolve this situation because the code is difficult enforcing by legally. (ACCA P1, 2008) [Online] Because the IFAC is not in a legislative position, the Code of Ethics contains no formal sanctions. (Hansrudi Lenz, 2008). Therefore, the auditors can choose to accept and comply with such a code without coercion. In such situation, the Code will fail to comply because they appear out-of-touch on ethics as they are unwilling or too busy to take the responsibility. (ACCA P1, 2008) Other than that, the code of ethics consists moral norm in provides guidance to strengthen up independence. Unfortunately, it has been fundamentally questioned about the moral base of the profession. It is neither a pure-lip-service nor a strict self-binding agreement in the sense of the Code of ethics. The independence may fail to maintain via the Code as there are self-binding that create opportunity to transgress a moral norm since independence of mind are difficult to observe. (Hansrudi Lenz, 2008)There is empirical evidence that shows moral norm are useless if the human natural are neither truly altruistic nor truly egoistic of the human behaviour. A selfish person will leave no rooms for moral obligations and maximise self-interest in decisions making which creates the ethical conflict of interest. (Sara Ann Reiter, 2000) 2.2 The IFAC code of ethics for profession accountants is essentially to maintain the principles-based approach in applying the fundamental ethics principles and conceptual framework. The IESBA have highlighted the principles-based approach as vital roles in auditing which gives guidance to resolving conflicts of interest. (ACCA P7, 2007). IFAC are more preferable to principles-based approach rather than rules-based approach as rules-based approach professional conduct and ethics cannot provide for all circumstances. There may result in inappropriate or inadequate safeguards for fundamental principles of ethics when the rules-based approach lead to unquestioning compliance to rules. (Philomena Leung, 2009) In positive aspect, the IFAC code with accordance with principles-based approach provides numerous set of specific rules for each ethical situation that had been identified. There are varied in the nature of engagement and work environment to professional accountants. (Messier, 2006)Therefore, the code with principles-based approach provides suitable guidance for every possible identified situation that involves ethical consideration with compliance with the fundamental principles that are not compromised. It is therefore the principles-based approach is acts as a driver to provide high quality work of audit. (IFACà ¢Ã‚ Ã‚ ¶, 2004) [Online] According to IFAC, external auditors independences are more preferable to principles-based approach because it creates the robust structures and applied to varied and diverse circumstances faced by professional accountants as it is continues to applicable in the rapid change of environment. (IFACà ¢Ã‚ Ã‚ µ, 2010) [Online] As it is applicable to global environment, it helps professional accountants to avoid technical evasion of detailed rules. The Code is more robust and capable of more consistent application as the IFAC code clarifies the absolute restrictions or prohibition. (IFACà ¢Ã‚ Ã‚ ·, 2009) [Online] The principles-based of the Code are potentially very flexible because it provides flexible framework for multi-culture, multi-lingual, and multi-jurisdictional environment. (IFACà ¢Ã‚ Ã‚ ¶, 2004) [Online] This approach also provides best suited to the rapid change in business environment which allows multitude circumstances that may arise in practise. As such, the standards of the Code can be responsive to the changing needs of the public interest and serves better for the requirement and interests for both user and financial markets. (Intosai, no date) [Online] Conversely, principles-based approach in the Code of ethics may have potential drawbacks. Although the Code provides basic principles to guidance, it is however that a lack of precise guidelines may create inconsistencies. (IVSC, 2007) [Online] As there are many similar circumstances to follows, the illustrative examples can be mistakenly interpreted.(ACCA P1,2008) The professional accountants may covey the false impression in descriptions of situation where it may be misguide the work in practise. Hence, they may not establish any basic principles or essential procedures to be followed in audit review, other assurance and related services engagement. (IFACà ¢Ã‚ Ã‚ ¸, 2009) [Online] The Code with principles-based approach does not and cannot capture all ethical circumstances and dilemma unless the professional accountants have very good and clear understanding in the underlying principles. (ACCA P1, 2008) Ethical dilemma can be inevitably occurring when the code cannot be honoured without apparent breach of another. (FIG, 2007) [Online] As there are argue in the regional variations in cultural, social and ethical norms, the IFAC code cannot capture important differences in emphasis in some part of the world. In additional, the Code of ethics is not technically enforceable in any legal manner although there are sanctions exists in breach of the code in some jurisdiction. Therefore, the voluntary and perhaps for the ethical code is less effective. (ACCA ³, no date) [Online] Principles-based approaches are required auditors to exercise or apply judgement because specific audit may apply laws and regulations that impact on the audit objectives. However, it is depends in the ethical conduct of the auditors. (Gary Pflugrath, 2007) Fairness expression are necessary require in the audit opinion which limits of the consistent application. Auditor may not to be able to express unqualified opinion and judgement if there are uncertainties affecting in the financial statement. Materiality by nature or by context may found in consideration. (Intosai ², no date) [Online] 2.3 Other recommendations Apart from Code of ethics, there is support evidence that shows positive relationship between audit committees and auditors independence which means that audit committee can enhance auditors independence. (Nur Barizah Abu Bakar, 2005) Audit Committee is a committee of independent non-executive directors that provide independent point of reference to auditors with view of a companys affairs other than executive directors. By providing additional channel of communication, the audit committee are strengthening the independence of external auditors. (United Nations, 2006) [Online] The audit committee might provide an impartial body for auditors to consult conflict of interest. Audit committee will also lead to increasing public confidence in the credibility and objectivity of financial report. (ACCA P7, 2009) Besides that, audit effectiveness and independently can be raised through audit quality control process. The international Standard on Quality Control (ISQC) further enhancing confidence in independent audit by encourage stakeholders work together with open and constructive dialogue in order to contribute the work of government and regulators by generating practical ideas. (ICEAW ², 2006) [Online]. ISQC also provides guidance for auditor to acquire required capabilities and competences by impose quality control in perform audit and reviews financial statement and other assurance and services engagement. The ISQC require all professional accountants perform all professional responsibilities with integrity and maintain objectivity which gain the publics confidence in the credibility of their work. (Brenda Porter, 2008) In additionally, IFAC also issued the Continuing Professional Education programme (CPE) to enhancing the professional technical skills and competences which help to develop independent of professional accountants. CPE provides high level of training to helps it members acquire the knowledge they need to face the contemporary rigors and challenges of the professional. (MIA, 2007).CPE provides rapid development in legislation, accounting standards and guidelines, technology development and increase public expectations of the services to maintain professional competence and ensure due care at all times. (MIA, 2005) [Online] By developing the higher professional standards and fostering greater sharing information between member and expert of the industry, it geared enhancing the quality of the profession. (MIA, 2007) Conclusion IFAC code of ethics plays an important element for professional accountants to serve public interest. The Code has emphasize the important for external auditors to be independent in provide reasonable assurance engagement. With guidance by the Code, the professional accountants can provide high-quality standards works with access of truthfulness and confidentiality financial reporting. From positive view, the independence can be strengthen up by the code of ethics with comply with the fundamental principles and conceptual of framework which allow professional accounting achieve their objective of accounting profession and maintain competences in practices. Besides that, the code of ethics had been revised in order to strengthen independences requirement. The code also helps in facilitate harmonisation. The code always based on principles-based approach to provide flexible for professional accountants. Principles-based approach in the Code also provides numerous set of guidance for every possible situation. Apart from that, the principles-based approach of IFAC code provides robust structure to many different circumstances. It is also suitable for business environment that rapid in changing to allows multitude circumstances. Whereas from negative view, the Code needs time consuming and cost incurred to absorb the new information, new technologies and knowledge and skills. The Code also creates loopholes from professional accountants which will possible discredit the profession. Independent cannot be strengthening because of pure-lip-service and self-binding agreement that transgress moral norm. The principles-based approach of IFAC Code has some deficiencies. The guidances examples may mistakenly interpret as it is lack of precise guidelines. IFAC Code also does not and cannot capture all ethical circumstances and dilemma. The principles-based approach also requires the professional accountants provides too many judgement which may brings to uncertainties of financial statement. Thus, besides the IFAC code of ethics, the professional accountants are advices to further develop other international standards or regulated body such as audit committee, ISQC and provide CPE to strengthen independent of auditors in providing assurance service.

Tuesday, August 20, 2019

Cost Benefit Analysis Economics Essay

Cost Benefit Analysis Economics Essay Introduction Cost Benefit Analysis (CBA) is a technique which seeks to bring greater objectivity into the decision making. It is a well known evaluation technique that is extensively engaged by both public and private organisations to support the decision making process. It can be useful to almost any kind of decision in any kind of field. It is helpful to identify all the relevant benefits and costs of a particular scheme and to quantify them in monetary terms. The practice arrived in the United Kingdom in 1960s for use in the transportation sector. CBA techniques were extended to cover a wide range of applications, such as water resource management, motorways, nationalized industries, airport locations, forestry, recreational facilities and a wide range of urban investment projects (Paul, 2000). Private sector, direct monetary costs and benefits determines the profitability and increases the output and investment. All costs and benefits in public sector, affected by an investment must be evaluated in some other way. Welfare economics helps to resolve such issues as how to assess costs and benefits of a non-monetary environment how to assess the community benefits when no charge made for public facility and how to fiddle with the market failure. Cost Benefit Analysis CBA rests on the recognition of a potential Pareto development. The basis for this is the proposition that, a decision is justified if those who benefit from it could compensate by those who lose by it. Compensation needs not really occur. What is essential is that the expenses of a policy to those who suffer the costs are exceeded by the value that beneficiaries place on it. This may still remain on an adequate basis for judgment because CBA attempts to ascertain whether the resources are being used efficiently. It will often be the case that the occurrence of costs and benefits, i.e. who bears them, will moreover be very important. CBA may provide a framework designed to identify accurately where the costs and benefits fall, so that a political judgement may be completed as to their satisfactoriness. CBA is a widely used technique which evaluates public spending and aims to avoid inappropriate distribution of public resources. In theory, it helps public decision-makers to invest only in the projects that create more profitability from the viewpoint of the community. To function perfectly, the CBA procedure needs to be engaged prior to the decision is made, so that the potential of the range of project proposals can be compared and evaluated. It aims to evaluate the set of direct and indirect effects of a project, its financial and non- financial effects on the set of economic agents concerned with the investment. These effects are then synthesized, after monetary evaluation, to assure a socio-economic balance which establishes the return on the investment, with this return being estimated on the basis of specific indicators (Auzannet, 1997). According to Boardman et al. (2006) the major steps in CBA are as follows; Specify the set of alternative projects Decide whose benefits and cost count Catalogue the impacts and select measurement indicators Predict the impacts quantitatively over the life of the project Monetize (attach dollar values to) all impacts Discount benefits and costs to obtain present values Perform sensitivity analysis Make a recommendation History and Uses of CBA At present, CBA is being used in both government and international organization. While certain concepts of the technique oriented from Europe in 1840s, the use of CBA in environmental economics is relatively a new incidence which is becoming recognized after regulations were set by the US government. And this made the use of CBA compulsory in the 1930s (E.J. Mishan and Euston, 2007). It was used to generate a solution toward the problems of water provision. After World War II, there was pressure towards the efficiency in government and the search was on for ways to make sure that the public funds were efficiently utilised in major public investments. This resulted in the beginnings of the fusion of the new welfare economics, which was essentially a Cost-Benefit Analysis and practical decision-making. This particular process arrived in the United Kingdom in 1960s in support of the transportation sector. It was applied to the construction of M1 motorway and the Victoria line on the und erground (Economic Labour Market Review, December 2008). In recent years, it is recognised as the major appraisal technique for public investments and public policy. Principles of CBA There are eight basic principles under this CBA ((S.L. Kirama, 2010). These are; There must be a common unit of measurement CBA valuations should represent consumers or producers valuations as revealed by their actual behaviour. Benefits are usually measured by market choices Some measurements of benefits require the valuation of human life The analysis of project should involve a with or without comparison CBA involves particular study area Double counting of benefits or costs must be avoided Decision criteria projects Emergence of CBA CBA allows different projects to be ranked according to highest expected net gains in social wellbeing. This gives important limitations of government spending. The main stages in CBA approaches are (Geoff Riley, 2006), Calculation of social costs and benefits. This includes direct costs, indirect costs and the benefits Sensitivity analysis of event occurring Discounting the future value of benefits Comparing the costs and benefits Comparing the net rate of benefits The Application of CBA In the private sector, financial CBA is used to justify equipment and technology investment, measure life cycle costs, meet regulations cost-effectively and quantify hidden costs and intangible benefits. It is also useful to demonstrate how outsourcing and leasing can result in cost savings and how quality improvements can affect returns. Social CBA is being used to evaluate the social merit of projects or policies. In practice CBA vary between countries and sectors within countries. The main differences include the types of impacts that are being included as costs and benefits within the assessment procedure. This is an extent to which the impacts are expressed in monetary terms and difference in discount rate between countries. The public CBA may also vary from private CBA (S.L. Kirama, 2010). CBA is likely to have its main usage within the public sector where (J. Harve and E. Jowsey, 2004); Price signals are insufficient to guide investment decisions Spill-over benefits and costs are important owing to the magnitude of the schemes The wellbeing of unborn generations has to be allowed Key Concepts in CBA There are some key concepts in CBA. There are; present value, discount rates, opportunity costs, cost and benefits, discounting, net present value, shadow prices, etc. (J. Harve and E. Jowsey, 2004). Government Decision- making Government may take the form of regulation such as building regulation to reduce fire hazards, taxes or subsides or providing goods and services. The main difficulty in many public-sectors is that the goods are provided free of charge or below the market price. So they are forced to focus on short-term special effects of the financial system and the long-standing sustainability of the public finances. Government decisions depend on subjective political considerations. For example, obtaining a social mix council housing may be providing an expensive residential area. However, public investments have serious defects. The one-man, one-vote principle does not weight votes according to the intensity of welfare gain or lost. Therefore, majority of the decision allow two voters marginally in favour of a scheme to outvote one who strongly opposes it in spite of the fact that the sum of their benefits is less than the costs impose on the single opponent. Political decisions are important one-sided. Economic efficiency in resource allocation requires that objective criteria should be used as far as it is feasible. The extension of government involvement in the economy has increased the weight and complexity of decisions which needs to be made at government level. Many argument says that decentralisation of decision-making is desirable. Application to Construction Industry Government is basically responsible for roads, bridges, airports, parks, amenity land, new urban areas and housing. CBA is normally being favoured by many transportation economists. It assesses the entire benefits and costs associated with highway project, including both capital and user costs. In this case, project requires less cost but provides more benefits right through the analysis period which are chosen first. CBA estimates the costs in monetary terms. Traditionally, a benefit-cost ratio, net present value or internal rate of return is being used. Recent research suggests that the net present value (NPV) may provide the best project selection measure if the transportation program is under financial constraints (Reed and Rutherford, 1997). The Use of Cost-Benefit Analysis in Transportation Sector Transportation policy and scheduling decisions often engage tradeoffs between conflicting objectives. Most highway cost allocation and investment evaluation studies are primarily concerned with direct market costs, such as road construction and maintenance, travel time, vehicle operating costs and crash damages. These vary depending on vehicle type and roadway conditions. They assume that the total amount of vehicle travel does not change, so were unconcerned with vehicle ownership and parking costs. Other types of studies incorporate environmental impacts, primarily air pollution, but sometimes it also includes noise and water pollution, and various other categories of land usage impact. Some studies have only considered external costs avoiding the internal ones. CBA is extensively used within the transportation segment. CBA of transportation investment projects tend to neglect long-term environmental consequences and needs among the community group with a low ability to pay. It has been emerged as one of the most used tools in deciding the viability of proposed infrastructure projects. The predictions regarding the impact of such projects are often problematic uncertain. The transport modelling tools are used in order to estimate positive as well as the negative impacts. Case Study Heathrow Terminal 5 In this case, the British Airport Authority (BAA) planning to build terminal 5 the cost is approximately around  £4 billion. Planning application was submitted in February 1993 (Heathrow T5, October 2005). They were considering the following benefits, such as Economic growth: Demand for air travel in south-east England is forecasted to be doubled in the next 20 years, making the expansion seems to be essential within the Air travel industry. This in turn might create thousands of jobs and businesses depending on the Heathrow airport expansion in order to provide sufficient supply capacity to meet the growing demand. An increase in the capacity of Heathrow will make maximum usage of airports existing infrastructure and land. The economy and trade: if it does not meet demand, UK will lose its airlines and foreign investments within the other European regions. The benefits of a world-beating industry would be reduced. Therefore, many sectors of our aviation industry will have a comparative advantage and might add huge sums to our balance of payments. Jobs: This project will create job opportunities which are estimated to be around 16,500. And it may also create 6,000 construction jobs during the building phase. This will have multiplier effects on the local / regional and national economy. Transport: The terminal will be the centre of a world-class transport exchange, with new Tube and rail links. Car traffic would rise only slightly. The social costs of increased traffic congestion have been exaggerated by the environmentalists. Environment: The site which has been allocated for terminal 5 is currently a disused sludge works. And any displace wildlife and plant life will be carefully relocated. The noise climate around Heathrow Airport has been improving for many years, even despite the fact that the number of aircraft movements has increased considerably partly due to the phasing out of older, nosier aircraft. Noise and night flight: BAA promises no increase in overall noise levels or in night flights. The number of flights will be increased by 8%. (Source: http://tutor2u.net/economics/revision-notes/a2-micro-cost-benefit-analysis.html) Objections are being raised against this project but those were not enough to refuse the planning permission. Conclusion CBA provides a rational technique for the evaluation of projects where market information is either non-existent or deficient. But it should not make false claims for objectivity by dealing in precise sums. However it is helpful for decision-making purposes, it is not an alternative for it. Further, CBA is potentially a useful aid towards planning decisions and it does not avoid the need to make value judgements in the evaluation of intangible arising from different projects. The overall conclusions are to be drawn from the assessment of costs and benefits. However, such value judgements are made clear in the evaluation decision making process.

Monday, August 19, 2019

Subject Placement in American Gothic, The Third of May, Acrobat’s Fami

Subject Placement in â€Å"American Gothic,† â€Å"The Third of May,† â€Å"The Acrobat’s Family,† and â€Å"The Waterseller† Besides bright or dim colors, and fine or rough brush strokes, artists use centralized composition to convey their interpretations in "The Acrobat's Family with a Monkey," "Amercian Gothic," "The Water-Seller," and "The Third of May,1808.† Grant Wood strategically places objects and characters to emphasize the central object, the pitchfork, expressing an atmosphere of unwelcomness, in his painting "American Gothic." The pitchfork attracts the viewer's attention as the most prominent feature of the painting. Its sharpness and rigidity cause the viewer to feel uncomfortable and uninvited. The elderly couple behind the pitchfork further exemplifies Wood's placement technique. Wood gives the pitchfork more significance by placing it in the center in front of the couple. The pattern in the man's overalls resembles the pitchfork, which is a reference back to the pitchfork, further supporting the theme of the painting. The couple becomes analogous to a "No Trespassing" sign. They do not want anyone to be around. At the top of the painting, the windows of the house resemble a church's windows. The sharpness and straightness in the windows refer to the pitchfork again. Although the house resembles the actual church it is also used to continue the theme of unwelcomeness. A hard to notice aspect of the painting is the cactus near the front door of the home. The cactus replaces the traditional welcome mat. No one would go near the front door due to the possible harm. The sharpness from the thorns of the cactus reminds the viewer again of the pitchfork in the center of the painting. Wood's ... ... lesser experience than the water-seller causes him to defer to the water-seller's maturity; therefore, he stands in the background, watching the process and increasing his knowledge. The water-seller himself stands to the far right of Velazquez’s painting, occupied with pouring water into a glass for the boy. He has lived longer than the other males in the painting and therefore has the most knowledge and the most experience of them all. The water-seller also appears to be the most distinguished of the three: dressed in red robes, which are similar to those that might be worn by a Cardinal, thereby reflective of his position in life. Many of these artists' works contain subtle hints to the author's opinion on the subject. By analyzing their central compositional effects, the viewer can obtain a greater appreciation and understanding for the art.

Sunday, August 18, 2019

Symbolism in Trifles by Susan Glaspell Essay -- Sybolism Trifles Susan

Symbolism in Trifles by Susan Glaspell In today's society, we generally view upon everyone as equal beings who deserve equal rights. At the turn of the 20th century, this particular view didn?t exist. Men clearly dominated almost every aspect of life and women were often left with little importance. The Wright?s embody this view of roles in Susan Glaspell?s play Trifles. Mrs. Wright was a typical woman who suffered the mental abuse from her husband and was caged from life. In Trifles, a mixture of symbolism of oppression illustrates Mrs. Minnie Wright?s motives to kill her husband and to escape from imprisonment. In the play, the setting takes place in an "abandoned" and "gloomy" farmhouse out in the country. Almost immediately does the reader get the impression that it is a very secluded and cold place. The coldness of the setting in many ways resembles the aloofness of Mr. Wright who is described as "hard man" and "a raw wind that gets to the bone." Most of the play revolves around the women and the kitchen. While the men scramble throughout the house looking for evidence or hints of a motive for death, the women stumble upon the entire mystery while remaining at the place where they were told to remain and gather items Mrs. Wright. The kitchen too seems like a remote place and much resembles the marriage between Mr. and Mrs. Wright. The kitchen is the spot where Mrs. Wright (and most women of the time) spent most of their time in. Like the cage to the canary, ...

Computer Processors :: essays research papers fc

Processors: Which is the best ?   Ã‚  Ã‚  Ã‚  Ã‚  A processor is the chip inside a computer which carries out of the functions of the computer at various speeds. There are many processors on the market today. The two most well known companies that make processors are Intel and AMD. Intel produces the Pentium chip, with the most recent version of the Pentium chip being the Pentium 3. Intel also produces the Celeron processor (Intel processors). AMD produces the Athlon processor and the Duron processor (AMD presents).   Ã‚  Ã‚  Ã‚  Ã‚  Processor speeds are measured in megahertz (MHz) and now come in speeds of up to 1000 MHz (1 GHz), which is very fast. This is almost ten times faster than the speed of most home computers, which average from 133 MHz to 166 MHz. Intel and AMD have been in a race to break the 1 GHz speed barrier, and the number of megahertz in the newest processors is not as significant as it was in earlier processors. For example, the difference between a 133 MHz processor and a 166 MHz processor is rather large, but the difference between a 533 and a 566 is barely noticeable. This is because the companies are becoming more concerned about the number of megahertz in a processor that the actual speed is not keeping up with the megahertz number (AMD/Intel).   Ã‚  Ã‚  Ã‚  Ã‚  So, which processor is the best? It depends on what the computer is being used for. The AMD Athlon processor is the best processor when it comes to 3D games and handles games quite well (Athlon Processor Quotes). The Pentium 3 processor is not quite as good at handling games. From personal experience with a Celeron 566 processor, the Celeron does not do a very good job at handling 3D games and will often freeze during a game, but otherwise is a very good processor. The Pentium 3 is the best processor for handling office applications, but the Celeron and the AMD do a good job as well. In consideration of the price, the Celeron processor is the best priced processor and offers good performance (P3 vs. Celeron 2). The Celeron is about half the price of the Pentium 3 processor (P3 vs Celeron 2).