Summer Camp Vacation Essay Example | Topics and Well Written Essays - 1000 words

Summer Camp Vacation - Essay Example But when it comes to children living in foster care, having no real families to bond with they feel isolated and ignored. Therefore, we have programmed a three months free summer vacations camp for 50 children, to support foster parents who cannot afford to plan such involving activities for their adopted children that aim to keep them connected, busy and thus happy, by the help of our volunteer sponsors. Imagine that one day a stranger come and drag you out of your own home, separating you from your family, your room, your pets and your belongings, throw you into the car’s back seat and drives you to some strange place. Now it’s not been more than a day and you are again taken by another stranger to another new place†¦and you are only 5 years old!!! The foster care society helps such disturbed and misplaced children to accept, adjust and feel comfortable by giving them yet not another â€Å"stranger† to add into their lives but a â€Å"family† to bind with, parents to love and siblings to relate to. It also provides the support to the foster parents to â€Å"own† these kids and not only â€Å"adopt† them. We have been working since many years to provide such kids not only a shelter but a place that they call â€Å"home†. Our majority finances are provided by the government under its donations policy and from generous people like you who are ready to provide little comfort and contribute a small smile in the lives of others. You have a chance to be that special someone who could make a little change to the lives of these innocent souls. You could be that magic which brings smiles to their face, contribute a little towards giving them a better life and ultimately to give this society civilized individuals, the society that you, we and our children lives in! Let’s make this society a better place for our coming generations to live and let’s join hands in this noble mission and be a light of hope for them. Let’s make them better humans and not

Cost Accounting Essay Example | Topics and Well Written Essays - 2500 words

Cost Accounting - Essay Example Absorption cost (also known as full costing) is costing systems which includes direct materials, direct labour and variable and fixed manufacturing overhead as product cost (Duruy, 2011).This costing method is normally required for external reporting purposes under GAAP since accountants believe that fixed overhead is a crucial component in the manufacturing process (Deo, 2009).. A reason for this is that stock valuation include all production cost under UK SAAP9 so that when profit increases the stock also increase (Pong, & Mitchell, 2004) On the other hand, Marginal or variable costing is costing system which includes all manufacturing cost that vary according to the number of units produced, which includes direct materials, direct labour and variable manufacturing overhead (Bhimani, 2011). Economists favour the use of marginal costing since it enhances profit maximisation (Deo, 2009) since stock increases lower the profit (Pong, & Mitchell, 2004). Theoretically, it is easy to iden tify the effects of the costing method used by an organization on profit. The costing method used in stock valuation therefore has an implication on profit as shown in the table below: Movement increase decrease Valuation method used Full costing Variable costing High profit Low profit Lower profit Higher profit Several principles were put forward in attempts of supporting either of these costing methods. For instance, the matching principle, which holds that during profit calculation, revenues, must be matched with the costs incurred in generating the revenue (Pong and Mitchell, 2004). Assuming prices are constant, the variable costing method results in a time series of profits that is in synch with the sales. This is considered an advantage of variable costing. The profit generated in this case is not subjected to any movements influence by changes in the stock level as the fixed costs are written off. This is found to concur with the realization principle that recognises profits as they occur (Pong and Mitchell, 2004). On the other hand, carrying forward fixed costs in the full costing method can boost profits in the case of rising stock. It is acknowledged that production activities can affect profitability via the levels of stock. However, this claim has been on the spotlight as it encourages managers to increase profitability by increasing stock which may be dysfunctional to the firm (Pong and Mitchell, 2004). The main difference between absorption costing and managerial costing is the treatment of the fixed manufacturing overhead cost, which are treated as a period cost in variable costing (Durury, 2011, p.195). The two costing methods will be compared using the given data below. Year 1 Year 2 Sales Price 50 52 Direct Materials 10 10 Direct Labour 7 8 Variable Production overhead 5 5 Fixed Production overheads 4800 5700 Administration costs 4000 5000 Sales Volume 900 1400 Production 1100 1300 The unit cost for the absorption costing method was higher at ?26.36 than the ?22.00 for the marginal costing due to the addition of ?4.36 per unit in the first year. The unit cost for the second year was also high for the absorption costing at ?27.38 when compared to the ?23.00 for the marginal costing. This comparison discovered that the unit cost for absorption costing was higher than the marginal costing because of the addition of the fixed manufacturing cost. The benefit of a two year comparisons is that it reveals how manufacturing cost are transferred in the absorption and managerial costing (Lere, 2000, p.29). The benefit of marginal costing is that fixed manufacturing overhead is already incurred even if there is no production for the period. (Durury,