Write a 2 pages paper on assignment 2b scenario. Joe Morgan, Controller From Me, Accounting Analyst On analyzing two costing methods ie. Job order costing as against Process costing following emerge:

Job Order Costing: In this system of costing, direct and indirect costs are allocated to batches or jobs rather than processes. All the direct costs are recorded on job order cost sheets. Indirect factory overheads (both labor and material) are allocated as per predetermined rates estimated in advance. More suitable for service industry, large order executors, ship builders, computer repair, etc.

Process Costing: This system applies all the manufacturing costs to processes and assumes uniform consumption by all the units produced. It is suitable for continuous / homogeneous production.

Job order costing is more applicable to Pharmafin, for the following reasons:

The production is neither continuous nor homogeneous.

Each equipment is manufactured separately by integrating 20 modules, 15 of which are supplied by third parties. Thus actual cost cannot be assumed to be uniform.

Cost of manufacture of each equipment can be ascertained with more accuracy

Pharmafin can easily determine the overhead allocation rate as the number of units and the overheads are already quantified based on the target orders and past years cost incurred.

The Job Order Costing system for Pharmafin would as follows:

Identify Direct and Indirect Costs

Cost of the modules purchased and manufactured would be the main direct material costs and labor hours spent on assembling and on quality assurance would be the direct labor cost. These can be easily ascertained with the help of job sheets

Estimate the indirect / overhead cost for the manufacture of the equipments for the entire year

Estimate the number of units manufactured for the year ( 100 for this year)

Determine the overhead rate for allocating the overhead rate to know the cost of goods manufactured. This we can take based on last year’s financial reports

Apply the over head rate to the units manufactured.

As we have considerable experience in production process and fairly good idea of the number of units needed, not many issues are seen in the implementation of job order costing system for both the models. The only point to be kept in mind is the comparison of the allocated overheads to actual overheads at the end of the year, if the difference is negligible, then the entire difference can be adjusted to the cost of goods sold otherwise if there has been significant under allocation, the same will have to be allocated to the work in progress, cost of manufacture and cost of goods sold.

The detailed information needed to be tracked by Pharmafin to implement Job Order Costing would be as follows:

Cost of Material-

Cost of construction of 5 in house modules. These include all direct and indirect costs which are already known to us.

Invoices of the 15 modules procured from other vendors. As the shipping cost is included in the invoices there no need to track them separately.

Direct Labor – Man hours in integrating the modules and performing quality assurance procedures.

Indirect costs – The rate determined based on the prior estimate of the overhead cost and production level.

Year end comparison – Actual overhead cost with allocated overheads based on the actual cost and units produced, to see under or over allocation of overheads and take appropriate action.

I hope this memo would help us to take the right decision.

Provide a 18 pages analysis while answering the following question: Understanding the New Digital Economy. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. The rapid development brought about in the areas of technology has also boosted up one crucial factor which cannot be ignored when it comes sustainable and continued economic growth (Gumah & Jamaluddin, n.d.).

This crucial factor can be commonly referred to as the communication process. In relation to the above fact, communication can be considered as a vital factor contributing to the social and cultural development of an economy. Through the effective use of communication, multiple business processes has come up and are expected to flourish in the later years. More specifically, the entire concept of globalization can be stated to have been dependent on technology. As for the current marketing trend, the entire business world has turn digitised. At present, people across the world can be widely seen to be eager to perform digital or online marketing with the sole purpose of saving both time as well as money. Although the concept of digitization is not so old but it has got a great perspective in terms of acting as an economic development factor (Gumah & Jamaluddin, n.d.).

Digitization in general can be seen to be promoting trade which in turn benefiting the economy in myriad ways (Gumah & Jamaluddin, n.d.). The main objective of this discussion is to evaluate and understand the new digital economy. This topic also includes sub parts such as understanding of the aspects which have directly or indirectly contributed towards transition of traditional economy into a new digitised economy.

This section will comprise of the thoughts and ideas of few authors who seem have quoted in context to this topic. As per the Strategy Dynamic Global SA (2013), technology have helped multiple nation in segregating their ‘ previous economic stance’, ‘education system’ and ‘social obligations’.

Write a 1 page paper on project management (heathrow airport). Project Management (Heathrow Airport) Affiliation This project requires a mobile communication technology. Refurbishing Heathrow Airport Terminal&nbsp.1 needs efficient information and data flow between all the agencies, such as staff, contractors, technicians, project manager and engineers. According to Abdel-Wahab and El-Masry (2010), in a renovation project, the information/data framework plays a significant role in the attainment of the set goals. This project encounters some challenges, such as lack of proper communication among the staff members and agencies. Also, it is facing numerous technological, structural, environmental challenges which hamper the delivery process. All these challenges can be addressed swiftly and urgently with an adoption of a mobile communication technology system that will convene ideas, opinions, approvals, procurement and recommendations while on the site. This will save the time that would have been incurred when problems arise, some that may require managerial approvals.

User-friendly mobile communication technology systems are invaluable for the staff members. This will help in formulating a smooth implementation process, besides providing the end users with help and support services if need be. According to Ahuja, Yang and Shankar (2009), the mobile communication technologies are adopted in project management, in the present day. It is apparent that some of these mobile communication technologies are sometimes affected by some factors including harsh locations and sites, staff size or IT capacities. However, this mobile ICT adoption is viable in this project considering that the IT department is capable of adopting and engaging the staff and agencies in the training process and implementation.

An airport construction, expansion or renovation project, operating under a functional and sustainable mobile communication framework integrates project managers and staff members in the entire organisation’s communication system. This further helps in the successful completion of a project (Abdel-Wahab & El-Masry 2010). This is very useful considering that the IT department is facing a major network challenge because. they had to replace the existing within terminal buildings. In this regard, normal communication is hampered and the only way out is an effective mobile ICT.

References

Abdel-Wahab, AG, El-Masry, AAA 2010, Mobile information communication technologies

adoption in developing countries: Effects and implications, IGI Global, United States.

Ahuja, V, Yang, J, & Shankar, R 2009, ‘Study of ICT adoption for building project management

in the Indian construction industry, Automation in Construction, vol. 18, no. 4, pp. 415-

423.

Provide a 14 pages analysis while answering the following question: Strategic Planning For the Establishment of a Professional Firm in the Built Environment. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. The Ever-Green Construction Firm will provide construction services to urban residents. For this purpose, the firm has established the vision and mission statement as well in which it has detailed its core strategic value and objective as well. In addition, the firm will be mainly composed of four departments: construction, finance, human resource, and legal and compliance department. Each department will have its own objectives which will directly serve the strategic objectives of the firm.

The firm will provide construction services to the urban residents in which commercial and residential apartments and buildings will be constructed. Before going to formally enter into the construction market, the firm has developed its vision and mission statement in which the basic foundations of the firm have been laid down. In addition, the firm will ensure that a serene urban living experience will be provided to the residents in which the latest means and methods and commercial and residential facilities will be provided to the clients. In this regard, it is important to mention that globally urban living is increasing as more and more are migrating from rural areas for better living and employment opportunities in the urban parts of the world. Keeping this view in mind, the firm has put in place various departments which will manage different functions within the parameters determined and established by the core values and strategic objectives of the firm.

Resident-centric construction and development approach for designing and constructing modern-day housing living facilities in the built environment will serve as the key objective for all types of construction projects.

The firm will have four departments: construction, finance, human resource, and legal and compliance department. Each department has been established with a specific aim and purpose which directly serve the strategic objectives, core values, strategic goals, mission, and vision of the firm.

Your assignment is to prepare and submit a paper on leader selection. The theory states that one should look for these traits in individuals when attempting to find a good leader. These traits can be adopted as well by individuals who are attempting to improve their leadership skills (Foti & Hauenstein,, 2007). Behaviour theory states that there are a set of particular behaviours that should be seen in a good leader. These behaviours serve to aid the leader in his role as a director of operations and serve to improve his all-round capabilities with regard to the management of his/her team. Both of these theories have their limitations as well as benefits and can be compared to determine which best fits the category of leadership selection in an organizational environment.

Trait theories allow individuals to sieve out their wanted candidates in a relatively efficient process as a clear description of the traits stated should serve to produce a small number of qualified individuals.

The trait theory has also proven to be reliable in leadership situations regarding large responsibilities (Kassin, 2003). The traits that are looked for by an organization are specified to the particular environment that the candidates will be deployed to and thus there is a higher chance of success when individuals are picked out from this process.

The focus on particular traits may lead to less attention being paid to other attributes such as cognitive abilities and expertise as well as their social skills and values which are also important elements in the choosing of a good leader (Kassin, 2003).

The trait theory also does not account for the behavioural diversity that may be necessary for an individual in order to adapt to a large and populated environment. This diversity is, however, necessary for effective leadership, especially in large organizations.

Participative leadership can be considered to be a favored style in democratic environments and deal with the active inclusion of all participants in ongoing operations. This style of leadership involves the inclusion of employees in the daily operations and gives them an opportunity to voice their contributions (Lussier & Achua, 2010). The style also involves the delegating of responsibilities to various individuals in the operation process giving them a freehand to apply their ideas to the project in assurance that the desired result will be achieved (Marlot, 2008). Like any other form of leadership, there are a number of advantages and disadvantages of participative leadership.