The Misunderstood Motorcycle Rider Essay Example | Topics and Well Written Essays - 1250 words

The Misunderstood Motorcycle Rider - Essay Example Initially, relevant statistics would be provided as a brief overview of motorcycle riders in the United States, prior into delving on the reasons for preference in this mode of transportation. The pros and cons of this particular endeavor would thereby be detailed, with specific support and references from riders who are members of identified registered motorcycle clubs in the country. Finally, a concluding portion would highlight the points that were discussed and present personal ideas based on the evaluation of issues that were expounded. Brief Overview of Motorcycle Riding The National Highway Transportation Safety Administration (NHTSA) is an organization that has been tasked to monitor data and information pertinent to motorcycle riders in the United States (NHTSA). Its mission is explicitly stated as â€Å"reducing crash-related injuries and fatalities while ensuring the highest standards of safety on the nation's roadways† (NHTSA par. 1). There were reportedly â€Å"a n estimated 7 million motorcycles on the US roadways each year, compared to approximately 130 million passenger cars† (NHTSA par. 2). ... emergency department (ED) for a non-fatal motorcycle-related injury† (par. 2), noted as an all time unprecedented high for motorcycle deaths that were exhibited and compared to other motor vehicle crash data during the stipulated period. Despite the alarming figures, there are riders who have signified preference for motorcycles for reasons discussed below. Benefits of Motorcycle Riding In a study written by Lawrence, Max & Miller for the NHTSA on â€Å"Costs of Injuries Resulting from Motorcycle Crashes†, the authors effectively revealed that motorcycles are comparatively categorized as one of the most cost efficient vehicles in terms of the amount and volume of fuel consumption needed to cover a destined location. Likewise, motorcycles provide speed and easy options to manuever through tight spaces between vehicles and other travel areas. In addition, joining motorcycle clubs have added benefits in terms of achieving some specifically identified mission or goals. For U .S. Military Vets MC (Michigan) club, for example, their organization which was reportedly established in 1987 explicitly stated the following objectives, to wit: â€Å"* To provide a club for qualified military veterans, which offers brotherhood and an opportunity to establish relationships with other military veterans who have served in the defense of the United States of America. * To establish and support a strong sense of pride in having served in the active military service of the United States of America. * To improve the image of military veterans and bikers to the general public† ( U.S. Military Vets MC (Michigan) 1). From their set of objectives, it was apparent that joining a motorcycle club provides the

Stem cell research Paper Example | Topics and Well Written Essays - 2500 words

Stem cell - Research Paper Example However, in an embryo that is developing, stem cells can differentiate into a large number of specialized cells and may maintain the normal output of those organs, which regenerate such as blood and skin. The main difference between stem cells and other cells in the body is the fact that they are able to differentiate into other types of cells or tissues. This ability allows them to replace the cells that have died, moreover, this has been used by scientists to replace those cells that are defective in patients who have diseases and effects that cannot be effectively cured by other forms of medicine (Dresser 181). â€Å"Scientists believe that stem cells, from which all other types of cells can grow, will help cure Alzheimer's disease, Parkinson's disease, diabetes, spinal injuries, congestive heart failure and other maladies† (Kelley). The usage of stem cells, especially embryonic stem cells in the cure of diseases such as Parkinson’s disease has come to breed a lot of controversy, and there has been a great deal of support for those who are for it and for those who are against it. There are different types of stem cells andmany different terms have been used to describe them, and these descriptions tend to come from the area of the body or the state of development from which they have come. Among the different stem cell forms are the following: tissue stem cells, fetal stem cells, cord blood stem cells, embryonic stem cells and finally, induced pluripotent stem cells. Moreover, many adult stem cells can substitute cells that die or restore tissues that have been damaged in injuries and such adult tissues as skin and muscle have their own stem cells, and in the bone marrow, blood-forming stem cells help in the production of blood cells. It is yet to be determined whether all organs have stem cells and it can, therefore, be said that the term adult stem cells is used very broadly and may contain other categories of stem cells, which are not necess arily found in adults. There are certain accepted stem cell therapies in the medical field, which require the use of stem cells, which are tissue specific. These tissue stemcells used in these therapies include the bone marrow and cord blood stem cell transplantation, which treat diseases related to blood or the restoration of blood after treatments of such conditions as cancer. In this situation, the tissue stem cells are used to mend the parts of the body from which these cells came. Another adult stem cell type is the mesenchymal stem cells, which are found in a number of tissues, and they are speculated to be able to produce bone, cartilage, and fat (Siegel 215). This has yet to be proven for human beings, but there is ongoing research on animals to determine whether these cells can be used to treat such conditions as bone fractures that do not normally heal. In addition, there is a possibility that these cells or cells that are similar to them play a role in altering the immune system in response to injury. Fetal stem cells are those, whichare taken from the fetus, which is a developing baby that has gone approximately ten weeks into gestation. The majority of the tissues in the fetus include cells that can help in the swift growth and maturity of organs and are extremely much like adult stem cells, which are often tissue specific. The fetus stem cells often produce the cell types that are mature inside the organ from which they were

Interpreting and Assessing the Mechanisms of an Award-winning Campaign Essay

Interpreting and Assessing the Mechanisms of an Award-winning Campaign - Essay Example As the report declares Travelocity conducted significant market research and competitive analyses to determine how best to differentiate the business. Qualitative and quantitative research was targeted at mass market consumers to determine the level of spontaneous brand recognition that existed among competitive brands. Survey analyses also indicated that many consumers had never even visited the Travelocity website and that many consumers did not believe Travelocity was differentiated positively against competing travel brands. This market research effort was the primary catalyst for problem recognition: The business needed a voice, needed brand recognition, and a strategy to position the brand effectively against competition. This market research effort, a well-invested activity, also identified the most appropriate target market to give the company its first real sense of direction in promotion. This paper stresses that the proactive market research activities allowed the business to examine competition with a critical and exploratory lens. It identified that the broadest segment of buyers, those who view travel websites and primarily between 24 and 35, were being overlooked by other travel brands. Travelocity realised that lack of competitive emphasis in the 24 to 35-year-old market and their available financial resources could give the business a chance to differentiate and capture this market’s attention. ... This market research effort was the primary catalyst for problem recognition: The business needed a voice, needed brand recognition, and a strategy to position the brand effectively against competition. This market research effort, a well-invested activity, also identified the most appropriate target market (24-35 year old â€Å"novice† travellers) to give the company its first real sense of direction in promotion. 3. Why the 24 to 35-year-old buyer? The proactive market research activities allowed the business to examine competition with a critical and exploratory lens. It identified that the broadest segment of buyers, those who view travel websites and primarily between 24 and 35, were being overlooked by other travel brands (Hall and Nairn 2005). Other markets that consisted of frequent travellers maintained characteristics and attitudes that would have made Travelocity have to invest more capital and human capital into trying to attract and then subsequently retain these buyers, since they were more knowledgeable and discriminating about travel (Hall and Nairn 2005). According to Cui and Choudray (2002), a target market is most desirable when competition is in a weak position to respond to consumer needs and when the demographic maintains adequate resources. Additionally, the market is attractive when the brand has the ability to match a certain segment’s needs and requirements (Cui and Choudray 2002). Travelocity realised that lack of competitive emphasis in the 24 to 35-year-old market and their available financial resources could give the business a chance to differentiate and capture this market’s attention. According to Macrae (2011, p.2), this particular age group faces

Comparative Research Paper of Atman and Anatta Example | Topics and Well Written Essays - 750 words

Comparative of Atman and Anatta - Research Paper Example The term atman is explained in the Upanishads, a collection of philosophical writings written in the period 800-600 BC which provide the underpinning of many Hindu beliefs. Kupperman explains the concept of atman as â€Å"our intuitive sense of an unchanging ‘me’ throughout life †¦ a core of self that has no individual nature of elements that grow and change †¦ a core that underlies (and is separate from) personality, thought patterns, bodily form and so forth† (11). This self is also part of something bigger: â€Å"The Upanishads teach that self and cosmos are one, repeatedly stating that one’s atman is inseparable from all that there is.†(Hamilton, 28). This is a complex theory which tries to understand the inner nature of all beings and things in the universe, and postulates that the universe is â€Å"a field of inner realities that are all at bottom the same†¦ in somewhat the way that a drop of water is the ocean of which it is a part.† (Kupperman, 11). Another way of describing this is the concept of Brahman. This early Hindu way of thinking has implications for the way that people understand themselves and their goals in life: â€Å"Thus, the highest good is self-recognition, not as one’s individual self, but as the larger all-encompassing self that is atman. Atman is not distinctively individual. Atman is immortal and impersonal.† (Solomon, 87). Both human beings and the myriad of Hindu gods and goddesses share in this mixture of specifically personal qualities, which are changeable, and this core selfhood, which is divine and permanent. The related concept of anatta is the Pali language version of the Sanskrit anatman, and it means not-self, or not-soul. It originates in the teachings of Buddha who lived in Northern regions of the Indian subcontinent in the region now known as Nepal. Anatta is one of the key concepts which distinguishes Buddhist thinking from the older Hindu tradition. In some ways it also

Quantitative Methods for Business Report Outline

Quantitative Methods for Business Report - Outline Example Therefore, it is the quality of the employees, rather than their quantity, that affects how the business will perform. To establish which factors is likely to affect business profitability more, between the number of employees and the employees’ turnover in a business, a sample of 30 banking institutions was studied. The reason for selecting banking institutions is the fact that; banking institutions mainly deal with offering financial services to the customers (Gitman & McDaniel, 2009 p188). Additionally, banking institutions operates under a competitive industry, where poaching of employees by other banks, microfinance institutions or insurance companies is highly experienced. The banking sector also entails the offer of services, where the employees of the banks interact directly with the customers, a necessary factor in this study, since the level of customer satisfaction influences their confidence and loyalty to the business, and the consequent performance and profitability of the business (Aamodt, 2010 p395). Thus, the selection of banking institutions as the samples for this study pro vided the most plausible means of assessing how the employee turnover and the number of employees affect the profitability of the businesses. The analysis was undertaken by approaching the 30 different banking institutions, and requesting them for the data regarding the number of employees within the period 2005 to 2010. Additionally, the information regarding the number of employees who have been recruited by the institutions and the ones who have left the institutions, for other reasons other than retirement was collected. The information regarding the profitability of the businesses during this period was also collected. The study also entailed the collection of information regarding the training programs of the banking institutions, and the amount of resources they have been committing towards the training of any single employee. This

Human Behavior Organization Essay Example for Free

Human Behavior Organization Essay Human behavior is important in an organization as it defines how people work together and interact with one another. A co-operative team with an established leader will produce better results than a group of people that have no guidance and dont know how to work with one another. Organizations spend time and effort in the human resources department ensuring human behavior in the workplace is appropriate and productive. †¢ Human behavior and the organization hierarchy Human behavior is of crucial importance in the establishment of a hierarchy. Hierarchies are necessary in every kind of organization, from schools to companies to charities. Some homes even have a hierarchy established. Hierarchies allow workers in an organization to pursue similar objectives by working together. Leaders are needed to guide organization members through day-to-day tasks. Human behavior dictates the strongest will be highest in a hierarchy, as it is for those people organization members have the greatest respect. For instance, in a company, it will be those with the most work experience and highest standard of qualifications who gain high hierarchy positions. †¢ Human behavior and co-operation Human behavior allows members of an organization to work together effectively. As people know the necessary way in which to interact with one another, they can communicate effectively and build good working relationships that allow organization objectives to be pursued with maximum effect. Sometimes it is necessary to influence and change human behavior in terms of cooperation. For instance, a few decades ago it was considered the norm for male colleagues to call female colleagues pet names such as love and hun. Nowadays, this is thought to be unprofessional and even derogatory. Any organization member who treats their colleagues in a way that is deemed inappropriate can face disciplinary procedures if they do not alter their behavior.

Finance and Accounting in the Hospitality Industry

Finance and Accounting in the Hospitality Industry Introduction. According to the Barrows Powers (2009, pp. 3-5) hospitality industry has included hotels , restaurants and other related organisations to the food industry and it has given more emphasis on providing customer sensitive products and services in order to gain profitability and customer satisfaction. Hence, the application of finance and accounting has been done a great deal to achieve such requirements for the hospitality industry. The applications of finance in the hospitality industry has been discussed under several ways of this assignment. Further it has focused to understand the sources of funding and income generation for the business and services industries as well as understand the business in terms of the element of cost. In addition that it has given more intention to evaluate the financial statements of the selected businesses which are in the hospitality industry. Apart from that, this has emphasise the analysis of the performance of the business by using ratio analysis techniques. Finally it has focused to apply the marginal costing concept to evaluate the short term management decisions. Task 01. 01.1 Sources of funding available to business and service industries. Sources of funds are very important to decide management decisions as well as long term strategies of any organisation. As per the Sharan (2005, pp. 210-218) following funding methods should be noted. Retain Profits. Increasing the revenue and reducing the cost this can be increased in a systematic manner. Bank Loans. It is advisable to go for a loan under lower interest rate. Because if the loan interest rate is higher than the companys return on investment, then it will cause liquidity problems in the future. Bank Overdraft facility This is subject to higher interest rate and recommended only for a limited time period. Issuing share to the public Ordinary shares less cost to the organisation but more power has been given to them. But preference share has less controls over the company but subject to a higher cost to the organisation since they have to pay pre-determined dividends on time. Franchise option. This is recommended to expand the business chain with an association with medium scale merchants to promote companys products and goodwill. Hire purchase schemes This also important to manage the cash flow situations of the organisation without investing higher capital for equipments plants. Lease Schemes This also important if the company have not greater funds to invest for their assets. But this is subject to higher interest cost. Credit purchases This is important to manage the working capital position of the organisation . Since agreement with many suppliers can be obtained credit period to pay the cost of goods purchased. Debt Factoring This important to get the cash in early by giving commission chargers to the factoring company to collect their debts very quickly. Sponsorship This is ideal by collecting funds from other organisations and giving chance to promote their names. As per the Banjerjee (2010, pp. 47-58) following funding options also to be considerable. Debenture issue to investors Right issues to shareholders Business Amalgamation Mortgages Venture capital strategies to expand the operations. 01.2 Methods of generating income and contribution to business service operations. According to the Hayes Miller (2011, pp. 5-20) generating income and contribution to the hospitality industry can be identified in following way. Sales In the case of hospitality industry is concerned such as hotels, are providing rooms, foods, beverages and other supportive services in order to generate income from that. Commission. This commission income will be received from the third party supplier to the organisation. Sponsorship This will be received from other organisations to promote their names. Grants Grants are receiving from the government , any other authority. Sub letting This can be generated by sub letting the premises to external parties, such as fancy item shops , flower shops , jeweler shops, etc. Task 02. 02.1 Elements of costs, gross profit and selling prices for products services. Element of Costs According to the Davis Davis (2012, pp. 25-34 ), followings can be identified as the elements of cost in the hospitality industry. Materials Material cost is the cost component in the final product or services which incurred mainly to provide particular products and services. Eg : Linen , Cutlery, Glassware , China , Silverware, Consumables Consumables are the main cost component in the final products in the hospitality industry. This requires further processing to deliver the final product to the customers. Eg : Foods and Beverages Labour Labour cost is the cost which are incurred for the main operating functions of providing final product or services of the organisation. Eg : Salary paid to waiters, kitchen staff front office staff Overheads Overheads are costs which incurred for indirect materials , indirect labour and other indirect cost. These costs cannot be identified specifically with the final product or service. Eg : Salary of admin department, electricity, stationery Selling Price and Gross Profit Margin According to the Kotas R. (1999 , pp 99-107) pricing methods used by the hospitality industry can be identified as follows. Pricing in Tourism ( Peak / Peak off trading price ) Selling price on peak seasons prepared by adding a higher markup to the operational cost as selling price. While in peak off seasons it is adjusting by reducing mark up and offering discounts for the selling price while concerning the competition in the market. Conventional Pricing Method. ( Rate of return pricing ) Here, it is emphasised that setting separate contribution margins to the different revenue segments ( such as foods, beverages, room, other operational segments ). After that it has to select the profit maximising contribution rate. Finally, the selling price will be based on the selected profit maximising sales mix. Gross Profit will be computed by deducting cost of sales from sales. Absorption Pricing Method Here, variable cost per unit has to be computed first and after that overhead cost to be absorbed to the unit cost. Finally markup to be added to the total cost to set as the selling price in order to gain required profit. Contribution Pricing Method. ( Marginal Costing) It is required to categorise the cost as variable fixed. Then the variable cost per unit has to be computed and based on the variable cost per unit, required contribution to be decided to arrive selling price. There is no absorption of overheads and fixed cost to the unit cost of the product. The Gross profit margin will compute after deducting the variable cost of the sales. Backward Pricing Method. This is a method of adjusting the operating cost to a fixed rate. In this case local or national trade organisations has decided fixed selling price and other members have to be accepted this price . Once they need to change this rate, meet again and decide the new price. Product and Service Costing. Selling price decided by adding a predetermined percentage of service charge to the unit cost, after adding the profit mark up to the unit cost. 02.2 Methods of controlling stocks and cash in a business services environment. Stock Controls Proper stock controlling is the way to smooth functioning of daily operations working capital management in an organisation. According to the Ryan B. (2004, pp: 355-361) following inventory controls are recommended. Compute economic order quantity level and re order level of the inventory. Required to avoid the unnecessary stock purchases . Create Just in Time inventory management system. Hospitality industry, mostly dealt with the perishable goods (foods beverages). Therefore it is ideal to maintain a JIT inventory system to eliminate the wastages, losses, and inventory handling cost. Implementation of ERP software programme for the inventory management. This ensures the updated accurate information linkage within the organisation to take proper inventory related decision on time. In other hand Warren et al (2008, pp: 270 271) emphasise important two controls over inventories. Safeguarding the stock from damage and theft. By restricting the store area only to authorised staff members, and it encourages to lock the high value items in a locker while usage of a camera system and security. Reporting the stocks in the financial statements. It is required to conduct a physical stock count at the year end and take the figures into accounts, while identifying any mismatch between system physical figures. Cash Controls Holding considerable cash amount is encouraged to conduct smooth functioning of working capital management. According to the Needles and Powers ( 2011, pp: 399 403) there should be following controls over the cash. Implementation of dual control over the cash. It is important to give authorisation for two persons to verify handle the cash balances to eliminate the cash thefts or manipulations. Preparation of bank reconciliations. Required to identify the reasons for the differences in cash book figure with bank statement balance. Conduct a physical cash count in random basis. This will help to minimise the misconduct by the staff who has handled the cash. Task 03. 03.1 Final accounts analysis of Valentina Hotel Ltd. 03.1.1 Source and structure of the trial balance. Sources of the trial balance are concerned, Kotas and Conlan ( 2007, pp. 101-115) it has been categorised under three ledgers , namely general ledger, sales ledger and the purchase ledger. Purchased ledger consists the personal accounts of suppliers (Creditors). Sales ledger relates to personal accounts of customers (Debtors). While general ledger consists impersonal accounts. Such as nominal accounts and real accounts. Nominal accounts refer to income and expense accounts. While real accounts refer to the assets and equity accounts. The structure of the trial balance is concerned , Jagels (2007, pp. 20-21) it has been categorised under the following way. Current Assets Fixed Assets Contra Assets Current Liability Long Term Liability Owners Capital Contra Capital Contra Revenue Revenue Expenses Therefore the trial balance consists of accounts which having debit credit balances and which all of them are summed up at the end. The trial balance of Valentina Hotel Ltd can be summarised as follows. Current Assets Bank / Cash / Debtors Fixed Assets Contra Assets Building / Equipment / Acc. Depreciation Current Liability Creditors Long Term Liability Long term bank loan / Debentures Owners Capital Ordinary share capital / Retained Profit Contra Revenue Opening Stock Revenue Sales Expenses Salaries / Loan interest / Marketing / Energy / Communication / Rates Insurance / Purchases 03.1.2 Evaluation of final accounts 03.1.2.1 Income Statement. Income Statement of Valentina Hotel Ltd for the year ended 28th February 2010.  £ 000  £000 Sales 2, 040 Less: Cost of Sales Inventory (01/03/2009) 49 Purchases 1, 360 1,409 Less: Inventory ( 28/02/2010) (51) (1,358) Gross Profit 682 Admin Operating Expenses Business rates insurance ( 67 3) 64 Wages salary (262 + 5) 267 Depreciation ( 250 * 25%) 62.5 Communication expenses 36 Energy Cost 49 (478.5) Selling Distribution Expenses Marketing 79 (79) Finance Expenses Debenture interest (200 *6%) 12 Loan interest 4 (16) Profit Before Taxation ( PBT) 108.5 Less: Income Tax (39) Profit After Taxation (PAT) 69.5 Less: Dividend declared ( 100*0.15 ) (15) Retain profit for the period 54.5 03.1.2.1 Balance Sheet. Position Statement of Valentina Hotel Ltd as at 28th February 2010. Assets  £ 000  £ 000  £000 Non Current Assets Cost Acc. Dep. NBV Buildings 400 400 Equipments 250 112.5 137.5 650 112.5 537.5 Current Assets Inventory (28 / 02 / 2010) 51 Debtors 92 Pre -paid Insurance 3 Bank 3 Cash 1 150 Total Assets 687.5 Equity Liability Equity Reserve Stated Capital (  £1 Ordinary shares) 100 Reserves Retained Earnings ( 157 + 54.5 ) 211.5 311.5 Non Current Liabilities 6% Debentures 200 Long Term Bank Loans 60 260 Current Liability Creditors 45 Wages salary payable 5 Debenture interest payable 12 Income tax payable 39 Dividend payable 15 116 Total Equity Liabilities 687.5 03.2 Budget and variance analysis of Valentina Hotel Ltd. 03.2.1 Process and purpose of budgetary controls. According to the Needles et al (2010, pp. 966) budgetary control is the use of a comprehensive system of budgeting to aid the management in carrying out its function such as planning , coordination and controls. Purpose of Budgetary Controls. The purpose of budgetary controls can be recognised, according to the Kotas R. (1999, pp. 177-180) in following manner. Achieving business targets. Delegating responsibilities to the staff. Optimum resource utilisation. To take corrective actions. Well coordination of work. As a basis of future policy Use as a basis of performance measurement Process of Budgetary Controls According to the Needles et al (2010, pp. 966-969) budgetary control process can be identified as follows. Period of Budget. This may be one year or sometimes it can be continuous from previous time to next time. Approach of Budget. Selecting a suitable method to use a budget. Such as zero based budgeting . Implementation of Budget. Implementation should be done after preparing approving the budget for the period. Performance Measurement. Measure the actual performance with budget during the budgetary period. Identification of differences in actual with budgeted performance. By conducting a variance analysis. Take corrective action. Corrective procedures required to produce the performances which are closer to the budgeted performance. 03.2.2 Variance analysis. Computation of RM Variances Raw Material Total Variance = Standard Cost Actual Cost = ( 10,000* $ 10) $ 98, 600 = $ 1,400 F / + Raw Material Price Variance = Qty. Used ( Standard Price Actual Price ) = ( 11,700 * $ 10 ) $ 98,600 = $ 18,400 F / + Raw Material Usage Variance = Std. Price ( Standard Usage Actual Usage ) = $ 10 ( (10* 1,000) 11,700 ) = $ 17,000 (A) / Analysis of variances It has shown $ 1,400 favourable total raw material variance from the budgeted figures. It indicates that actual material cost is less than the budgeted material cost and it is in the, within the controls. Further there is a $ 18,400 favourable raw material price variance from the budgeted figures. This indicates that the actual price is less than the budgeted price. However it has $ 17,000 adverse raw material usage variance from the budgeted figures. This means, RM usage are in out of the controls. Suggestions for appropriate future management actions Take corrective actions to eliminate the over usage of RM. Setting new procedures to reduce the wastage of RM. Implement new controls to monitor the RM usages. Check whether such variance is controllable or not. If it is controllable, then corrective action to be taken. If not a revision of standards is recommended. Task 04. 04.1 Ratio analysis of Audalucia Hotel. Profitability Ratio Gross Profit Ratio of the company has been declined by 15.14% ( Appendix A) compared to the 18.33 % of this year with 21.60 % of last year. Net Profit Ratio also declined by 30.56% ( Appendix A) compared to the 3.59 % of this year with 5.17 % of last year. Apart from that Return On Capital Employed (ROCE) also decreased by 31.73% ( Appendix A) compared to the 8.24 % of this year with 12.07 % of last year. This incurred due to increase in expenses cost of sales. Liquidity Ratios Current Ratio of the company has been increased by 0. 52 times ( Appendix A) compared to the 3.68 : 1 of this year with 3.16 : 1 of last year. Quick Ratio decreased by 0. 50 times ( Appendix A) comparisons to the 2.43 : 1of this year with 2.93 : 1 of last year. This incurred due to over fund usage on closing stock. Efficiency Ratios Inventory Turnover Ratio of the company has been decreased by 36.25 times ( Appendix A) compared to the 17.37 times of this year with 53.62 times of last year. Inventory Turnover Period has been increased by 14 days ( Appendix A) compared to the 21 days of this year with 7 days of last year. Debtors Turnover Period has been decreased by 7 days ( Appendix A) compared to the 39 days of this year with 46 days of last year. Creditors Turnover Period has been decreased by 5 days ( Appendix A) compared to the 25 days of this year with 30 days of last year. This incurred due to over fund utilisation on stock, increase of debtors creditors. Investors / Financial Ratios Earnings Per Share (EPS) of the company has been decreased by  £ 0.21 ( Appendix A) compared to  £ 0.25of this year with  £ 0.46 of last year. This has incurred due to low profit earned during the period and new share issue. 04.2 Appropriate future management strategies for business and service operation. Following strategies to be taken by the management to eliminate the discrepancies identified in the ratio analysis. Reducing the selling price volume of sale should be increased to gain higher revenue. Unnecessary fund utilisation on the stock should be reduced. The JIT stock system to be implemented to minimise the stock handling cost. Take necessary steps to reduce the expenses in regularly. Negotiate with suppliers to obtain longer credit period while asking lower credit period to the customers. Follow proper cash flow management procedure within the organisation. Implement new procedures to attract the customers to the company to increase the sales while conducting discounts promotions. Non Current Asset should have used in very efficient effective manner to generate income from it. Task 05. 05.1 Categorisation of costs of Leicester Square Hotel. Fixed Cost As per the Horngren et al (2009, pp: 28-29) fixed cost is the cost which remained unchanged in total for a given period regardless of changes in volume or activity. Eg : Fixed Cost of the hotel operation  £ 1,600,000 Variable Cost According to the Drury ( 2008, pp. 32-34) variable cost is the cost which changes in direct proportion to the volume of the activity. Eg : VC of Food sales per room  £ 7 VC of Beverage sales per room  £ 2.4 Semi Variable Cost According to the Kinney Raiborn ( 2011, pp. 28-29) semi- variable cost is the cost which consists both fixed and variable components for a given activity. It remains as fixed up to a certain level and beyond that it will be variable based on the volume or activity. Eg : Variable Cost per occupied room  £ 15 VC of Minor operations departments per room  £ 1.2 05.2 Cost / Profit / Volume analysis of Leicester Square Hotel. Computation of Contribution per product / customer ( in  £ ) Description Room Foods Beverages Minor Dept. Total Selling Price 120 20 8 2 150 Variable Cost (Appendix B) (15) (7) (2.4) (1.2) (25.6) Contribution 105 13 5.6 0.8 124.4 (Per product/customer) Net Profit Computation ( in  £ ) Sales ( 150 * 100 * 365) = 5, 475,000 Less : Variable Cost (25.6 * 100 * 365) = ( 943,400 ) Contribution (124.4 *100* 365 ) = 4, 540,600 Less : Fixed Cost = ( 1,600,000 ) Net Profit = 2,940,600 Break Even Point Computation BEP ( in units ) = Fixed Cost Contribution per customer = 1,600,000 124.4 = 12,861.74 ÃŽÂ © 12, 862 ( Customers ) BEP ( in  £ ) = BEP ( in units ) * Selling Price = 12,862 * 150 = 1,929,300 Cost -Volume -Profit Relationship Value (  £ 000 ) TR Total Revenue ( £ 5,475 ) ( £5,475) Profit ( £ 2,940.6) Profit BEP BEP ( £1,929) VC ( £ 934.4) Loss FC ( £ 1,600 ) (Customers ) 0 BEP ( 12,862 ) (36,500) According to the Blocher et al (2006, pp 238-241) Cost-Volume -Profit analysis is the method of analysing how operating decision and marketing decision affects the net income based on the relationship between cost ( VC FC), volume (output level ) and selling price. The hotel is required to sell 12,862 rooms to the customers to achieve breakeven point of sales. According to the Hansen et al ( 2009, pp. 591-595) Breakeven point is the level at which revenue is equal to the total cost and the profit is zero. Since they can obtain  £ 1,929,300 revenue to cover the total cost and beyond that they can earn profit from every additional customers. If the hotel unable to achieve 12,862 customers per annum, they have to suffer with losses. The Hotel can earn contribution of  £ 124.4 from every customer and if they achieve the expected sales level of 36,500 customers , they can achieve  £ 2,940,600 profit for the period. 05.3 Justification of short term management decisions based on CPV analysis. Margin of Safety ( in units ) = Expected Customers BEP Customers = ( 365 * 100) 12,862 = 36,500 12,862 = 23,638 Margin of Safety ( in  £ ) = Margin of Safety ( in units ) * SP = 23,638 * 150 = 3,545,700 Degree of Operating Leverage = Contribution Margin Net Profit = 4,540,600 2,940,600 = 1. 54 ( low risk ) According to the Blocher et al (2006, pp 249-252) margin of safety is the amount or units of sale above the sales. In that case hotel can generate  £ 3,545,700 turnover by 23, 638 customers. It indicates that this hotel investment is worth. As per the Hansen et al ( 2009, pp. 597-598) degree of operating leverage is the ratio of contribution to the profitability. In this case, it shows a lower leverage of 1.54 since it generates lower risk to the future profitability of the hotel. Therefore it is justifiable that management has been taken an optimized and a worth decision regarding this investment. Conclusion. According to the given cases of this assignment is concerned it is clear that practical application of theories in hospitality management is really essential in order to obtain proper decisions to improve the profitability, avoid control deficiencies and smooth functioning of routine operation of the business. References. Book References Banjerjee, B. (2010), Financial policy and Management Accounting, 7 th ed. Prentice Hall Ltd, pp. 47-58. Barrows, C. W. Powers, T. (2009), Introduction to the hospitality Industry, 7 th ed. John Wiley Sons Inc., pp. 3-5. Blocher, E.J., Chen, D., Cokins, S Lin, F. (2006), Cost Management : a strategic emphasis, 3 rd ed. Tata Mc Grow Hall, pp. 238-252. Davis, C. E. Davis, E. (2012), Managerial Accounting, John Wiley Sons Inc., pp. 25-34. Drury, C. (2008), Management and Cost Accounting, 7 th ed. Cengage Learnings, pp. 32-34 Hansen, D. R., Mowen, M. M. Guan, I. (2009), Cost Management : accounting control, 6 th ed. Cengage Learnings, pp. 591-598. 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