International Issues in Accounting and Audit Essay

International Issues in Accounting and Audit - Essay Example Considering the growing complexity of accounting work, many countries have adopted IFRS as their basis for financial reporting as it is expected that IFRS can significantly improve the quality of information on corporate finance. Although there are numerous potential advantages associated with a common set of global reporting standards, it is difficult to implement IFRS in a way that the benefits of a harmonised reporting system could be achieved. This paper will critically explore and discuss the potential benefits as well as negative impacts/limitations of adopting the IFRS in the United Kingdom. International Financial Reporting Standards, commonly abbreviated as IFRS, are designed as a common global reporting framework for businesses so as to make company accounts well understandable and comparable despite cross-border barriers. The growing international shareholding and trade activities make it necessary to establish a common global language for business affairs with regard to accounting and reporting. Such a common global framework is also particularly important for firms that have a presence in several countries. Today the IFRSs increasingly replace different national accounting standards as multinational corporations wish to keep their accounts easily understandable and comparable across the globe. IFRS are authorised on the ground of historical cost paradigm with the exception of IAS 29 and IFRIC 7, which are authorised on the ground of constant purchasing power paradigm (Legardere, 2007). Although IFRS was initially introduced as a framework to harmonise accounting practices and procedures across the European Union, this concept has progressively become attractive around the world due to the increased value of harmonisation. IFRS are sometimes referred to as the original name of International Accounting Standards (IAS). The International Accounting Standards Committee (IASC) issued IAS over the period 1973-2001. On 1st April 2001, the new International Accounting Standards Boards (IASB) undertook the responsibility for setting international accounting standards from the IASC (Value based management.net, n.d.).  

Dumping And Anti Dumping In International Trade

Dumping And Anti Dumping In International Trade Introduction International trade in the 21st century is a highly competitive area, with every nation trying its best to attain the competitive advantage. The benefits of being the dominant player in the game of trade are sufficient enough to lure even the least developed nation to embark on an aggressive trade strategy. The trade element provides benefits not only on the economic front but also has the unlimited potential of providing vital political advantage. The examples of such benefits have changed the course of human history for several centuries. The European power bloc enjoyed the trade advantage till the World Wars destroyed their mainland, following which the advantage shifted to the United States. But even US felt the heat of Japanese trade policies in the 1960s and 1970s, while during the last decade of the 20th century world saw the short-lived prominence of the Asian tigers. With the new century came a new set of players known as the emerging markets along a handful of prominent pla yer, who were tagged as the BRIC bloc by Jim O Neil of the Goldman Sachs. The trans-national trade has always had its effect on the international relations mainly because it took the a zero-sum game form rather than the win-win situation, thus going against the theories advanced by Adam Smith, Frederick von Hayak and Milton Friedman. Maintaining the dominance in trade became essential as monetary benefits in the form of current account and capital account surplus became more critical for furthering the growth of various national economies. Hence countries have been forced to engage themselves in a series of trade-distortion techniques like dumping, currency devaluation and so on. China, the export behemoth, supported its export oriented industrial units through the simplest monetary tool depreciation of the domestic currency against the global currencies. This depreciated Chinese Yuan made exports more attractive and provided adequate trade surplus for China against global importers like US and European countries. The other nations also attempted to use t his tool, but only a few were able to reap the right benefits. Currency manipulation was a serious crime according to International Monetary Fund (IMF) and the various central banks across the world. Hence exporting countries including China resorted to other mechanisms to support its exports. With the national Governments providing adequate subsidies to the manufacturing concerns, low-cost production was achieved by the exporters. The cost-advantage helped the exporters to push their goods into overseas markets and break the existing dominant industries in the overseas markets. This led to the scenario known as dumping and enraged importing countries, mainly in the West, used customized anti-dumping measures to counter this wave of dumping. The emergence of World Trade Organization (WTO) in 1995 and a series of agreements in the late 1990s and in the first decade of the 21st century provided a standardized framework for countering the anti-dumping worldwide. This report examines the scenario of dumping and also analyses the anti-dumping measures taken up by various nation-states, supported by various trade blocs. The measures provided by WTO to support anti-dumping rules and to prevent its abuse are also critical to the study done in this report. The report would also accommodate some cases in anti-dumping, with respect to India, China and Developed countries, inorder to further explain anti-dumping as a prevalent trade measure. Dumping Anti-Dumping Exporters who sell their products at a price lower than the domestic market prices and production costs are guilty of dumping. With nations getting more and more tuned towards protecting their domestic industries against foreign competitors, more and more cases of dumping are being reported world wide. The main tool against dumping for most sovereign states is the use of national laws pertaining to trade in the form of Anti-Dumping Measures. Like in case of any regulation initiated with good intentions, abuse of these regulations has also risen with time. Thus World Trade Organization was forced to take up the issue of dumping and anti-dumping through a series of regulations using the General Agreement of Tariffs and Trade (GATT) clauses. ANTI-DUMPING: TERMS Normal Price/Comparable Value It is the price of the product when sold in the ordinary course of trade for consumption in the exporting country. A fair comparison is required to be made between the normal price and the export price and it should be made at the same level of trade at ex factory level and in respect of sales made at as nearly possible the same time. In certain circumstances, there may be no sales in the domestic market to enable comparison, in which case, it may not be possible to determine normal value. In such circumstances, there are two alternative methods which have been provided for determination of the normal value. The price at which the product is sold to a third country. The constructed value of the product, which is calculated on the basis of the cost of production plus selling, general and administrative expenses and normal profits. Insufficient volume of sales: if certain sales are made below their cost, then they are to be ignored for computation purposes and the normal value would be determined based on remaining sales. The remaining sales would normally be considered as sufficient if they constitute 5% or more of the export sales made to the country conducting the investigation against dumping. De-minimis rule: In case the remaining sales are insufficient on account of insignificant volume of sales in the home market, then the normal value would be computed based on the alternative methods provided. Indirect exports: If products are not imported directly from the country of manufacture but from an intermediate country, the normal value is to be determined on the basis of sales in the market of the originating country unless this may result in an inappropriate or impossible comparison. Export Price The export price is generally based on the transaction price at which the foreign producer sells the product to an importer in the importing country. However, in certain cases the transaction price may not be appropriate for purposes of comparison with normal value. These circumstances may arise in case of: Internal transfers i.e. transfer between the same entities from one location to another, where there is no transaction value; Barter or exchange transactions, where the money value is absent; Where the relationship existing between the exporter and the importer may have an influence or bearing on the price negotiated or For such other reasons where the transaction price may not be considered to be at arms-length. In such cases, the transaction value cannot be adopted and the export price needs to be determined based on an appropriate alternative method. However, the construction of the export price should be reasonable and based on facts and circumstances, which are warranted in each case. The export price may be constructed based on: Price at which the imported product is first resold to an independent buyer The constructed price should have allowances for costs including duties and taxes, incurred between the importation of the product and its resale to an independent purchaser, as well as for reasonable profits accruing there from. The constructed price should also give allowances for factors such as different levels of trade, conditions and terms of sale, taxation, quantities, physical characteristics, and other matters demonstrated to affect price comparability Conversion of currency: The comparison of the normal value with that of export price would require conversion of currency. Normally, when the base currency is different from USD or Euro, they are converted into USD or Euro for the purpose of calculations. In such cases, the exchange rate to be used should be one on date of sale. In case of a forward currency sale, the exchange rate adopted for the forward transaction should be used for conversion. Like Product The term like product is defined as a product that is identical, i.e. alike in all respects to the product under consideration, or in the absence of such a product, another product which although not alike in all respects, has characteristics closely resembling those of the product under consideration. Sales in ordinary course of Trade In order to enable comparison of the export price and the normal price, the anti dumping investigations need to determine whether the sales in the domestic market of the exporting country are made in ordinary course of trade or not. In case the price at which the goods are sold in the domestic market is below its cost, then prima facie, it would mean that the sales made in the domestic market are not in the ordinary course of trade. Accordingly, such sales may be disregarded in the determination of normal value. However, sales made below costs may not be disregarded for determination of normal value where they allow for recovery of costs within a reasonable period of time, which may normally be one year or are insignificant. Anti dumping: WTO Regulations The WTO is the only International body dealing with the rules and regulations of trade between nations. The WTO Agreements negotiated and signed by bulk of the worlds trading ratified in their parliaments. WTO took over the reins from GATT in the year 95 and its objective is no different. It is focused on maintaining trade balance between the developed, developing and under developed countries. Some of its objectives are That international economic relations should be conducted with a view to raising standards of living, ensuring full employment and a large and steadily growing volume of real income and effective demand; Expanding the production of trade in goods and services; While allowing for the optimum use of the worlds resources in accordance with the objectives of sustainable development, seeking both to preserve the environment and to enhance the means of doing so in a manner consistent with their respective needs and concerns at different levels of economic development. WTO, seen from the past, intends to achieve the stated objectives by one or more of the following mode or means: Administering trade agreements Acting as a forum for trade negotiations and settlement of trade disputes Reviewing national trade policies Assisting developing countries in trade policy issues, through technical assistance and training program Co-operating with other international organization In an effort to bring cross border transactions and free trade between nations it signed a lot of agreements in this regard. As a result of it lead to the implementation of the article VI of GATT 1994, which is popularly known as the Anti- dumping Agreement. Wherever WTO seeks for free trade it also makes sure that the trade fair and full. Article of VI of GATT: It states that the practice of exporting goods from one country to another at less than the normal value should be strictly condemned if it causes or threatens to cause material injury to an established industry in the territory of a contracting party or materially retards the establishment of a domestic industry. In order to seek implementation of the said Article, member nations at WTO have entered into an agreement called the Agreement on implementation of Article VI and more-popularly referred to as the Anti-dumping Agreement. A product is considered as being dumped i.e. introduced into the commerce of another country at less than its normal value if the export price of the product from one country to another is less than the comparable price, in the ordinary course of trade, for the like product when destined for consumption in the exporting country. The activity of throwing goods at less than their normal value into another country would be called dumping. When dumping causes or threatens to cause material injury to domestic industry of the importing country, the action undertaken to counteract the said dumping, by the importing country, is called as anti-dumping. WTO lays down the basic principles on how a Nation can or cannot react to dumping. In this regard, it would be essential for a member country to prove that there should have been a material and genuine injury to its competing domestic industry, before in any manner, taking steps against dumping. The importing country is allowed to take action against dumping, when: Dumping is not only said but also shown to have taken place by the importing country; On the basis of dumping, being said to exist, the importing country is able to establish from reliable information and considering all possible factors that such dumping has actually caused or could cause, material injury to its domestic industry; and Lastly, as a reasonable justification for any action against dumping, the importing country should be able to present the calculation stating the extent of dumping i.e. the difference between the export price and the normal price in the exporters home country. The agreement has given three ways to calculate the case of dumping Difference between the price in the exporters domestic market (called normal value) and the price charged for export to the subject nation, in the absence of the price in the domestic market. The second method is to compare the price charged by the exporter for exports to another country that to the price charged on export to the subject nation. In the absence of the comparable price , the price in the exporters market is derived from the cost incurred by the manufacturer and then it is subjected to the importing nation Approach adopted to counter Dumping An action imposing and collecting dumping would require a three step approach; The establishment of evidence in favour of dumping. In India, the following conditions need to be fulfilled before initiating an action against dumping: The product which is said to have been dumped, has been imported into India from a country outside India The export price is less than the comparable price Consequent to being dumped, it has caused or the effect of causing material injury to manufacturers of like product in India. The transaction alleging dumping is undertaken in the ordinary course of trade The establishment of evidence in respect of its injury In the context of dumping, the term injury has been defined to mean either material injury to a domestic industry, threat of material injury to a domestic industry, or Material retardation of the establishment of a domestic industry. The determination of injury must be based on positive evidence which would normally involve an objective examination of the volume of the dumped imports and the effect it has on the prices in the domestic market for like products and the consequent impact of these imports on domestic producers of such products. Also, in certain circumstances, producers who are related to the exporters or importers of the product under investigation and producers who are themselves importers of the allegedly dumped product. In this regard, a producer would be deemed to be related to the exporter or importer if: one of them directly or indirectly controls the other both of them are directly or indirectly controlled by a third person together they directly or indirectly control a third person, subject to the condition that there are grounds for believing or suspecting that the effect of the relationship is such as to cause the producers to behave differently from non-related producers Evaluation of Injury The investigating authorities have to develop analytical methods for consideration of these factors such as volume and price which may be regarded as relevant in the light and circumstances of each case. The authorities need to evaluate all relevant economic factors having bearing upon the state of the domestic industry. In this regard, a number of factors have been listed such as actual or potential declines in sales, profits, output, market share, productivity, return on investments, utilization of capacity, actual or potential effects on cash flow, inventories, employment, wages, growth, ability to raise capital or investments, and the magnitude of the margin of dumping. In evaluating the injury to the domestic industry, the investigating authorities are required to consider whether there has been significant price undercutting in respect of the dumped imports as compared to the price of the like product in the domestic industry of the importing country. Causal Link: As regards the establishment of material injury, it needs to be demonstrated that there is a causal relationship between the article that is alleged as being dumped and the injury it seeks to cause to the domestic industry manufacturing or producing like product. The investigating authorities need to analyze factors such as change in technology and change in the pattern of demand etc. which can cause material injury to the domestic industry but these factors are not arising on account of dumping, as they need to be excluded in evaluating the injury on account of dumping. Therefore, the investigating authorities are required to develop analytical methods for determining only those factors which have a causal link between dumping of alleged goods and its consequent injury to the domestic industry. Cumulative Analysis: In cases where an article is found to be dumped into the importing country from more than one country, it is possible to undertake a cumulative analysis of the article being dumped. In this regard, it is provided that the authorities must be required to determine the margin of dumping from each country and that such margin should not be less than 2%, expressed as a percentage of the export price for each country and that the volume of imports from each country should not be less than 3% of the imports of like articles. In this regard, if the imports from one country is less than 3%, then such investigation may be possible if the collective imports from all such countries is not be less than 7% of the import of like articles. Dumping Calculation: The margin of dumping is normally calculated as the difference between the weighted average normal value and the weighted average price of all comparable exports. In certain cases, this comparison may be done on a transaction-to-transaction basis. The difference between the normal value and export price is called as the margin. In case the export price differs significantly among different purchasers, regions or time periods, then comparison based on weighted average export price may not be appropriate. In such cases, the investigating authorities would compare the weighted average normal value with that of the export price on individual transaction basis. This situation is referred to as targeted dumping. Assessment of Duty: Normally, the assessment of dumping margin for the purpose of the levy of anti-dumping duty is to be calculated with respect to each exporter or producer of the product concerned under investigation. However, such a system may not be practically feasible in all cases and thus the investigating authorities may limit the number of exporters, importers, or products individually considered and impose the anti-dumping duty even on uninvestigated sources, on the basis of the weighted average dumping margin established with respect to exporters or producers actually examined. ANTI-DUMPING: Procedures Initiation of Investigation The investigations against dumping are required to be normally initiated on the basis of a written request submitted by or on behalf of a domestic industry and it needs to be supported by those domestic producers whose collective output constitutes more than 50% of the total production of the like product. However, the investigation would not be initiated when domestic producers expressly supporting the application account for less than 25% of total production of the like product produced in the domestic industry of the importing country. The application is required to contain the following information: Evidence of dumping, injury and the causal link The identity of the applicant and a description of the volume and value of the domestic production of the like product by the applicant. Complete description of the allegedly dumped product, the names of the country or countries of origin or export in question, the identity of each known exporter or foreign producer and a list of known persons importing the product in question Information on prices at which the product in question is sold when destined for consumption in the domestic markets of the country or countries of origin or export Information on the evolution of the volume of the allegedly dumped imports, the effect of these imports on prices of the like product in the domestic market and the consequent impact of the imports on the domestic industry On receipt of the application the investigating authorities would examine the accuracy and adequacy of the evidence provided for determining whether there is sufficient evidence to justify the initiation of an investigation and before initiating investigation, the authorities need to notify the exporting country. Conduct of Investigation The authorities are required to guarantee the confidentiality of sensitive information and verify the information on which determinations are based. In order to ensure transparency, the authorities are also required to disclose the information on which determinations are to be based to all interested parties and to provide them with adequate opportunity to make or provide their comments. The investigating authorities are required to give notice to all interested parties viz. Exporter, the government of exporter and the producers of like products, about the investigation. The procedure of investigation is as follows: Preliminary Screening: The application is scrutinized to ensure that it is fully documented and provides sufficient evidence for initiating an investigation. In case of any discrepancy, a deficiency letter is issued. Initiation: the designated authority, after examining the accuracy and adequacy of the evidence regarding dumping, injury and causal link, issues a public notice initiating an investigation. The initiation notice is ordinarily to be issued within 5 days from the date of receipt of a properly documented application. Access to Information: The authority provides access to the non-confidential evidence presented to it by various interested parties in the form of a public file, which is available for inspection to all interested parties on request after receipt of the responses. Preliminary Findings: Based on the information available before it and based on further information collected by the authority, a preliminary finding is made, which would also contain the reasons behind the determination made by the authority. In this regard, the preliminary finding is undertaken normally within 90 days from the date of initiation. Provisional Duty: In case the authority considers it necessary, it may recommend the Central Government to impose a provisional duty, not exceeding the margin of dumping, on the basis of the preliminary finding recorded by it. The provisional duty can be imposed only after the expiry of 60 days from the date of initiation of investigation. Further, such duty will remain in force for a period not exceeding six months but which may be extended to nine months under certain circumstances. Oral Evidence Public Hearing: Interested parties are allowed to request the designated authority to afford them an opportunity to present their case and relevant information orally. However, the designated authority would consider the oral information only when it is subsequently reproduced in writing. Disclosure of Information: The designated authority, based on the submissions and evidence gathered during the investigation and verification would proceed to make the determination of the final findings and formulate the basis thereof. Final Determination: The interested parties would submit their response to the disclosure and the authority would consider such submissions before taking a final position on the matter. Time-limit for investigation process: the normal time allowed for completion of the investigation process is one year from the date of initiation of the investigation. The Central Government is empowered to extend such period by another six months. Price Undertaking Price Undertaking refers to a voluntary undertaking by exporters to revise the price or to cease exports to the area in question at dumped prices so that the authorities are satisfied that the injurious effect of the dumping is eliminated. However, the Central Government would be allowed to accept the price undertakings from exporters only after preliminary affirmative determination has been made that dumping exists and that consequent to dumping, injury has also been caused to the domestic industry. The investigating authorities are required to complete their investigation on the dumping and its consequent injury, in the event it is desired by the exporter or by the investigating authorities despite accepting the price undertakings. In case the investigation leads to a negative determination of dumping or injury, then the undertaking given shall automatically lapse. Special Status Anti dumping duty is not applicable for imports made by export oriented units unless the intention to levy on their imports is specifically stated in the notification. Export Oriented Units specifically include: Free trade zone means a zone which the Central Government may, by notification in the Official Gazette, specify in this behalf; Hundred per cent export-oriented undertaking means an undertaking which has been approved as a hundred per cent export-oriented undertaking by the Board appointed in this behalf by the Central Government in exercise of the powers conferred by section 14 of the Industries Act, 1951; Special economic zone means a zone which the Central Government may, by notification in the Official Gazette, specify in this behalf. Provisional Measures The investigating authorities are allowed to take certain provisional measures in the form of levy of provisional duty for import of goods alleged to be dumped. These provisional measures are allowed only when the following conditions are fulfilled: The investigating authorities have initiated the investigation giving proper public notice and interested parties have been given adequate opportunities to submit information and make their comments; The investigating authorities have a preliminary affirmative determination in favour of dumping and its consequent injury to the domestic industry; The investigating authorities judge that such provisional measures are necessary to prevent injury being caused during the investigation period. ANTI-DUMPING: Indian Context Indian laws regarding trade, including anti-dumping laws were amended with effect from 1st January 1995, following Indias entry into the WTO. The anti-dumping provisions were amended keeping in line with the WTO Agreement. The investigations regarding anti-dumping duty are under Sections 9A of the Customs Tariff Act, 1975. Even though, anti dumping duty provides for countering the issue of dumping, countervailing duties are more useful for countering the direct and indirect subsidies by various national governments on their respective industries. In any case, the Indian Government has to prove injury and causal link need to be proved in front of the WTO panel on anti-dumping. The investigations pertaining to dumping are governed by the amended provisions of Customs Tariff act of 1975. Safeguards in the form of tariff increases or quantitative restrictions were earlier used to counter the increased imports due to dumping, but nowadays such measures invite compensation payment to tradi ng partners in appropriate cases. The Customs Tariff Act, 1975 Sections 9A, 9B and 9C, amended in 1995 and the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, were framed to provide the legal basis for anti-dumping investigations and for the levy of anti-dumping duties, based on the Agreement on Anti-Dumping which is in pursuance of Article VI of GATT 1994. The investigations and recommendations on dumping issues are handled by Designated Authority, under the Ministry of Commerce, while the imposition and collection of anti-dumping duties are handled by Ministry of Finance. The Indian industry must be able to show that dumped imports are causing or are threatening to cause material injury to the Indian domestic industry. Material retardation to the establishment of an industry is also regarded as injury. The material injury or threat thereof cannot be based on mere allegation, statement or conjecture. Sufficient evidence must be provided to support the contention of material injury. Injury analysis can broadly be divided in two major areas: The Volume Effect The Designated Authority examines the volume of the dumped imports, including the extent to which there has been or is likely to be a significant increase in the volume of dumped imports, either in absolute terms or in relation to production or consumption in India, and its affect on the domestic industry. The Price Effect The effect of the dumped imports on prices in the Indian market for like articles, including the existence of price undercutting, or the extent to which the dumped imports are causing price depression or preventing price increases for the goods which otherwise would have occurred. The consequent economic and financial impact of the dumped imports on the concerned Indian industry can be demonstrated, inter alia, by : decline in output loss of sales loss of market share reduced profits decline in productivity decline in capacity utilization reduced return on investments price effects adverse effects on cash flow, inventories, employment, wages, growth, investments, ability to raise capital, etc. Application Procedure Applications can be made by or on behalf of the concerned domestic industry to the Designated Authority in the Ministry of Commerce for an investigation of any alleged dumping. The designated Authority may initiate an investigation when there is sufficient evidence that dumped imports are causing or are threatening to cause material injury to the Indian industry producing like articles or are materially retarding the establishment of an industry. Copies of the prescribed application pro-forma are available from the Ministry of Commerce. Applications should be submitted to the Designated Authority in the Ministry of Commerce in the prescribed form. Guidelines on how to complete a questionnaire are a part of the prescribed

The Terrorist’s Extradition Loophole Essay -- Terrorists Terrorism Ter

The Terrorist’s Extradition Loophole Most extradition treaties between states call for an exemption for crimes that are political in nature. The political offense exemption was originally created to allow states to protect those that another state may wish to prosecute for crimes that are politically committed against that government. R. Stuart Phillips, a Judge Advocate in the United States Army, distinguishes between â€Å"pure† political offenses and â€Å"relative† political offenses. â€Å"Pure† political offenses are directed specifically against the state and do not directly affect civilians. They also do not contain acts that would normally be considered a common crime. This can include efforts to overthrow the government, treason, and espionage. These types of crimes should be protected by a political offense exemption. A problem with the extradition exemption comes up with the â€Å"relative† political offenses. These offenses are not entirely political in nature. These crimes tend to be common crimes that are committed for a political purpose. The reason behind the crime is not enough to warrant an exemption from prosecution for the crime itself (Phillips 340-343). Terrorists should not be allowed to find the loopholes in a system that enables them to continue to terrorize those whom they blame for their problems. This problem is a direct result of the â€Å"gray areas† that make it difficult to tell the difference between a common crime and a political crime. It combines the two acts into one, blurring the line of distinction (Anderson). The government being attacked sees it as a common criminal attack on its sovereignty, while the terrorist sees it as a legitimate means to an end. The government behind which the terrorist is trying to... ...d for. Bibliography Anderson, James H. â€Å"International Terrorism and Crime: Trends and Linkages.† James Madison University. http://www.jmu.edu/orgs/wrni/it.htm (8 Mar. 2002). Kash, Douglas A. â€Å"An International Legislative Approach to 21st-Century Terrorism.† The Future of Terrorism: Violence in the New Millennium. Ed. Harvey W. Kushner. London: Sage Publications, 1998. Phillips, R. Stuart. â€Å"The Political Offense Exception and Terrorism: Its Place in the Current Extradition Scheme and Proposals for its Future.† Dickenson Journal of International Law Winter 1997. 337-359. Van den Wyngaert, Christine. â€Å"The Political Offense Exception to Extradition: How to Plug the ‘Terrorists’ Loophole’ without Departing from Fundamental Human Rights.† International Criminal Law and Procedure. Eds. John Dugard and Christine van den Wyngaert. Aldershot: Dartmouth, 1996.

Tjs Product Mix

Summary of the Problem: TJ’s, Inc. , makes three nut mixes for sale to grocery chains located in the Southeast. The three mixes, referred as the Regular Mix, Deluxe Mix, Holiday Mix. Now TJ’s is committed to using the available nuts to maximize profit of the fall seasons, and they must satisfy the received orders. Problem Solving Approach: This problem was solved using Excel Solver LP Programming. The decision variables are pounds of each type of Mix. The objective function was a formula of profit contribution for each Mix.The constraints are the nuts purchased the following shipment and the orders that need to be satisfied. The following summarizes the variables and coefficients of the mathematical model: Variable or CoefficientUnit of MeasureDescription RPoundsPounds of Regular Mix DPoundsPounds of Deluxe Mix HPoundsPounds of Holiday Mix DescriptionRegularDeluxe HolidayShipment amountCost per shipment Orders (Pounds)1000030005000 Almond Consist percentage0. 15 0. 20 0 . 25 60007500 Brazil Consist percentage0. 5 0. 20 0. 15 75007125 Filbert Consist percentage0. 25 0. 20 0. 15 75006750 Pecan Consist percentage0. 10 0. 20 0. 25 60007200 Walnut Consist percentage0. 25 0. 20 0. 20 75007875 Profit (Dollars) ( Not include cost of nuts) 1. 6522. 25 The following is the mathematical formulation of the problem: Maximize1. 65R+2D+2. 25HObjective function Subject to: 0. 15R+0. 2D+0. 25H= 10000 Deluxe 10625>= 3000 Holiday5000>= 5000 Constrains2Nuts Used Available Almond6000

Pecha Kucha

Alison Angell Sullivan English 1105B 2 December 2009 Odd Occurrences in Nature How we got started When presented with the task of making a pecha kucha, my partner and I brainstormed topics that interested us and then looked to see if we found any that were related. Giovanni and I both agreed that nature was a fascinating topic and at first thought we would take pictures of different parts of nature around campus and describe them in a photo essay.After realizing the topic was too vague, we narrowed our focus to interesting facts about animals and plants found in nature. I was unsure of how interesting our topic would be until Giovanni sent his list of strange facts he found on the Internet. I was astounded at the many things I was unaware of, one of my favorites being a praying mantis can turn its head 360 degrees, the only animal to be able to do so. The research portion of the project was by far one of the most interesting I have done for a project. I found myself wanting to look f or more.Giovanni and I mutually decided that the most logical way to present our topic would be in the form of a photo essay. We did most of our communication through Facebook messages and an occasional email. Giovanni and I worked independently to find the facts for our pecha kucha but messaged back and fourth daily to give each other feedback. Content The content for the pecha kucha my partner and I designed included interesting facts about a variety of animals and a few plants that we thought would be new information for the audience.The animals and plants we researched ranged all the way from birds in caves to the plants in the ocean. The content includes attention-grabbing facts such as penguins are able to jump six feet in the air, praying mantis’ are the only animal that are able to turn their heads 360 degrees, flamingos are pink because their diet is composed of mainly shrimp, mosquitoes are attracted to the color blue more than any other color, a snail can sleep up to three years at a time, a sea squirt eats its own brain and snakes can see through their eyelids.The facts I found most interesting were the praying mantis’ can turn their heads 360 degrees, some species of birds can dive 15 feet underwater to capture a fish, a headless cockroach can survive for a couple of weeks, and sea cucumbers eviscerate themselves when in danger so the predator will eat their insides while the cucumber scurries. The information we provided on our pecha kucha was found online from various websites except for the information about the swiftlet birds that compose their nests of saliva, which we learned from Mrs. Sullivan. FormBased on the content my partner and I chose for the project, we decided that something like a photo essay would be most appropriate to present the information. An actual photo essay would not work because we did not tell a story but instead, made a presentation about different plants and animals that all relate through nature. Also, we ruled out using a memoir format or a public service announcement seeing as our topic did not correspond with those two forms. The pecha kucha covers fifteen different organisms, some having more than one slide because of the amount of substance there is on those topics.The pecha kucha was made using Powerpoint and Windows Movie Maker. Both Giovanni and I were familiar with Powerpoint so I was able to make my slides through that processor and Giovanni, who is knowledgeable with Windows Movie Maker, was able to transfer my slides. Lastly, there was writing on each slide that Giovanni added using Paint on his computer to help give an overview of each slide. Why we chose the slide material My partner and I wanted to pick a topic that interested both of us. After deciding on elements of nature, we met with Mrs.Sullivan who sparked an idea to focus on interesting, unknown things about different organisms in nature. We were both intrigued by the subject, which made us want to choose it for our topic. After knowing that we were content with our topic, we knew that we had to present a pecha kucha that was going to be interesting to the audience. Giovanni and I agreed that since we were so amazed by the research we found, the class would most likely be as well. Both Giovanni and I split up to do research and messaged our findings to one another.After we had more than enough information, we chose what we thought were the most interesting facts that would surprise the audience the most. How we chose the design elements present in the slides The pecha kucha was made using Powerpoint because both Giovanni and I were familiar with how to use it and also Windows Movie Maker. We added writing to each of our slides to highlight what the slide was on to help the audience summarize what we were covering. There are two movies included in our presentation and a few topics that required more than one slide.For the design, we made sure to space the topics that required two slides and the movies evenly throughout the pecha kucha so that we would not have two similar groups of two slides next to each other or a movie next to another movie, to provide variety for the audience. Audio Component For the sound component of our pecha kucha, we chose to use pre-recorded audio. My partner has a fear of public speaking, which led us to using pre-recorder audio. Luckily, Giovanni has a headset and microphone, which we used to get the narration on the computer.After we recorded our audio, Giovanni used sound-editing computer software to format the audio and create an eloquent narrative. Giovanni and I did not use audio during the two slides that had videos, in order for the audience to be able to focus on the video. Due to the fact that our audio is pre-recorded and may not get as much attention as a live narration would, we used wording on each slide to give people a summary of what our audio was about. Compromises due to working with a partner I have never been a huge fan of partner projects because of my obsessive-compulsive personality.I am very controlling and feel that if things are not done by me, they will not be correct. I realize I am stubborn about these things and that working with a partner has upsides too. However, I usually like to take control and when working with a partner I am not always able to do that. Also, there had to be a compromise in scheduling. Giovanni and I had to compensate for each other’s schedules and find times to work together. Though I may have not had better ideas than my partner, I had to rid of some ideas because he did not agree and my partner had to rid of some of his ideas because I did not agree with them.Also, I compromised in the way our pecha kucha was presented. I found it much easier to present our project orally in front of the class, however, since my partner was shy about public speaking, we went with pre-recorded audio. Lastly, though not a compromise, I am not a fan of partner projects b ecause I am not a fan of confrontation. When I work on partner projects, I will rarely disagree with another person’s ideas because I try to avoid conflict, a flaw I need to work on. Benefits of having a partnerThough I am not interested in partner work, it does have benefits that can sometimes outweigh the compromises. Based off the saying â€Å"two heads are better than one,† working with a partner on this project helped lead to working on a very interesting topic that I would most likely not have thought of on my own. Also, since there were two people working on research, we were able to have an overflow of ideas and pick from those the most interesting, to create an intriguing pecha kucha. Whenever working solo on a project, it is hard to tell if your ideas make sense or have substance.By working with a partner, I was able to consult him on whether or not my ideas were going to benefit the project. Working with a partner benefitted me greatly when it came to the te chnical work of doing pre-recorded audio and inserting movies. My partner was able to put together the audio to fit with each slide and integrate movies into two of the slides, two things I would not have been able to do on my own. Why I enjoyed the project The pecha kucha assignment was one of the more enjoyable group projects I have had to do throughout school.What I liked most about the project was that we, the students, had the opportunity to basically create our own project. We were able to work with information we found interesting and had the opportunity to put it into several different forms. I sometimes find it challenging to start an assignment with as little reservations as this one, but with the help of a partner, the project came together smoothly. Overall, the ability to work with information that we found interesting made the pecha kucha assignment enjoyable. Pecha Kucha Alison Angell Sullivan English 1105B 2 December 2009 Odd Occurrences in Nature How we got started When presented with the task of making a pecha kucha, my partner and I brainstormed topics that interested us and then looked to see if we found any that were related. Giovanni and I both agreed that nature was a fascinating topic and at first thought we would take pictures of different parts of nature around campus and describe them in a photo essay.After realizing the topic was too vague, we narrowed our focus to interesting facts about animals and plants found in nature. I was unsure of how interesting our topic would be until Giovanni sent his list of strange facts he found on the Internet. I was astounded at the many things I was unaware of, one of my favorites being a praying mantis can turn its head 360 degrees, the only animal to be able to do so. The research portion of the project was by far one of the most interesting I have done for a project. I found myself wanting to look f or more.Giovanni and I mutually decided that the most logical way to present our topic would be in the form of a photo essay. We did most of our communication through Facebook messages and an occasional email. Giovanni and I worked independently to find the facts for our pecha kucha but messaged back and fourth daily to give each other feedback. Content The content for the pecha kucha my partner and I designed included interesting facts about a variety of animals and a few plants that we thought would be new information for the audience.The animals and plants we researched ranged all the way from birds in caves to the plants in the ocean. The content includes attention-grabbing facts such as penguins are able to jump six feet in the air, praying mantis’ are the only animal that are able to turn their heads 360 degrees, flamingos are pink because their diet is composed of mainly shrimp, mosquitoes are attracted to the color blue more than any other color, a snail can sleep up to three years at a time, a sea squirt eats its own brain and snakes can see through their eyelids.The facts I found most interesting were the praying mantis’ can turn their heads 360 degrees, some species of birds can dive 15 feet underwater to capture a fish, a headless cockroach can survive for a couple of weeks, and sea cucumbers eviscerate themselves when in danger so the predator will eat their insides while the cucumber scurries. The information we provided on our pecha kucha was found online from various websites except for the information about the swiftlet birds that compose their nests of saliva, which we learned from Mrs. Sullivan. FormBased on the content my partner and I chose for the project, we decided that something like a photo essay would be most appropriate to present the information. An actual photo essay would not work because we did not tell a story but instead, made a presentation about different plants and animals that all relate through nature. Also, we ruled out using a memoir format or a public service announcement seeing as our topic did not correspond with those two forms. The pecha kucha covers fifteen different organisms, some having more than one slide because of the amount of substance there is on those topics.The pecha kucha was made using Powerpoint and Windows Movie Maker. Both Giovanni and I were familiar with Powerpoint so I was able to make my slides through that processor and Giovanni, who is knowledgeable with Windows Movie Maker, was able to transfer my slides. Lastly, there was writing on each slide that Giovanni added using Paint on his computer to help give an overview of each slide. Why we chose the slide material My partner and I wanted to pick a topic that interested both of us. After deciding on elements of nature, we met with Mrs.Sullivan who sparked an idea to focus on interesting, unknown things about different organisms in nature. We were both intrigued by the subject, which made us want to choose it for our topic. After knowing that we were content with our topic, we knew that we had to present a pecha kucha that was going to be interesting to the audience. Giovanni and I agreed that since we were so amazed by the research we found, the class would most likely be as well. Both Giovanni and I split up to do research and messaged our findings to one another.After we had more than enough information, we chose what we thought were the most interesting facts that would surprise the audience the most. How we chose the design elements present in the slides The pecha kucha was made using Powerpoint because both Giovanni and I were familiar with how to use it and also Windows Movie Maker. We added writing to each of our slides to highlight what the slide was on to help the audience summarize what we were covering. There are two movies included in our presentation and a few topics that required more than one slide.For the design, we made sure to space the topics that required two slides and the movies evenly throughout the pecha kucha so that we would not have two similar groups of two slides next to each other or a movie next to another movie, to provide variety for the audience. Audio Component For the sound component of our pecha kucha, we chose to use pre-recorded audio. My partner has a fear of public speaking, which led us to using pre-recorder audio. Luckily, Giovanni has a headset and microphone, which we used to get the narration on the computer.After we recorded our audio, Giovanni used sound-editing computer software to format the audio and create an eloquent narrative. Giovanni and I did not use audio during the two slides that had videos, in order for the audience to be able to focus on the video. Due to the fact that our audio is pre-recorded and may not get as much attention as a live narration would, we used wording on each slide to give people a summary of what our audio was about. Compromises due to working with a partner I have never been a huge fan of partner projects because of my obsessive-compulsive personality.I am very controlling and feel that if things are not done by me, they will not be correct. I realize I am stubborn about these things and that working with a partner has upsides too. However, I usually like to take control and when working with a partner I am not always able to do that. Also, there had to be a compromise in scheduling. Giovanni and I had to compensate for each other’s schedules and find times to work together. Though I may have not had better ideas than my partner, I had to rid of some ideas because he did not agree and my partner had to rid of some of his ideas because I did not agree with them.Also, I compromised in the way our pecha kucha was presented. I found it much easier to present our project orally in front of the class, however, since my partner was shy about public speaking, we went with pre-recorded audio. Lastly, though not a compromise, I am not a fan of partner projects b ecause I am not a fan of confrontation. When I work on partner projects, I will rarely disagree with another person’s ideas because I try to avoid conflict, a flaw I need to work on. Benefits of having a partnerThough I am not interested in partner work, it does have benefits that can sometimes outweigh the compromises. Based off the saying â€Å"two heads are better than one,† working with a partner on this project helped lead to working on a very interesting topic that I would most likely not have thought of on my own. Also, since there were two people working on research, we were able to have an overflow of ideas and pick from those the most interesting, to create an intriguing pecha kucha. Whenever working solo on a project, it is hard to tell if your ideas make sense or have substance.By working with a partner, I was able to consult him on whether or not my ideas were going to benefit the project. Working with a partner benefitted me greatly when it came to the te chnical work of doing pre-recorded audio and inserting movies. My partner was able to put together the audio to fit with each slide and integrate movies into two of the slides, two things I would not have been able to do on my own. Why I enjoyed the project The pecha kucha assignment was one of the more enjoyable group projects I have had to do throughout school.What I liked most about the project was that we, the students, had the opportunity to basically create our own project. We were able to work with information we found interesting and had the opportunity to put it into several different forms. I sometimes find it challenging to start an assignment with as little reservations as this one, but with the help of a partner, the project came together smoothly. Overall, the ability to work with information that we found interesting made the pecha kucha assignment enjoyable.