Use the Slept Framework to Analyse the Current External Business

A. Written Report (25%) You are required to analyse the business environment of a UK based manufacturer of a luxury product of your choice. Please note that: * The actual company is hypothetical. * It is assumed to supply to the upmarket department stores and boutiques around the world but its main market is the UK. * You must agree your specific product with your tutor. * By luxury product, we mean an expensive product that is not a basic necessity. To complete this assessment task, you must: a. Use the SLEPT framework to analyse the current external business environment for issues that may affect your company.Attach this in the Appendix. No word limit for this section. b. Drawing on your analysis of the external business environment, explain and justify the three most important issues currently facing your company. Word limit is 2000 words for this section. Word Limit The word limit is 2000 words (excluding any items in the appendix**). Students are advised to stick to the word lim it – if you exceed the word limit, it should be within the 10% rule. Work submitted that exceeds the word limit may be penalised on the basis of failure to demonstrate academic discipline. *The Appendix should only be used to support your discussion (which is what is being marked) with reference materials e. g. diagrams, scanned images, Internet printouts, articles etc. It should not be used to supplement your essay so that more words can be squeezed into your assignment! In other words, a poorly written essay with a fantastic appendix is not going to achieve a good grade. Referencing To get a good grade, your discussion must be underpinned by a wide selection of secondary sources and academic materials (e. g. books and journal articles) throughout your work or where appropriate.All work must be fully referenced (preferably using the Harvard Referencing System) to acknowledge sources used or consulted for the production of your report otherwise it would be considered as plagi arism. Correct referencing is a vital skill you will need to master for any academic writing. Please DO NOT USE references taken from Wikipedia, MarketingTeacher. Com, QuickMBA. Com or similar websites that allow students to do a quick ‘copy and paste’ quotations of academic concepts. These websites may be useful for initial research and/or reading but they should not end up in any part of your work as they are not legitimate academic sources.This kind of practice does not encourage deep learning. Deep learning can only come about if you invest time and effort into in-depth reading in original sources. A) Use the SLEPT framework to analyse the current external business environment for issues that may affect your company. Attach this in the Appendix. No word limit for this section. I will be using SLEPT in order to analyze the external business environment for key issues that may affect my hi-fi firm. ‘Rich Sounds' is a luxury selling Hi-fi Company based in the Uni ted Kingdom. The company does compete internationally, however its main trade mainly takes place within the UK.The market is estimated to be worth ? 2 billion in 2007 compared with a peak value of ? 2. 1 billion in 2005. The growth of the market for portable music players and, more recently, for home docking stations has offset a decline in home hi-fi system sales. The arrival of the iPod marked a sea change in the audio equipment market. Sales of MP3 players have grown dramatically at the expense of other portable music players, especially CD players. In the home, CDs remain the dominant format but are increasingly played on PCs and laptops – this change has adversely impacted the sale of conventional home audio equipment (Mintel. Rich Sounds does compete at the higher end of the hi-fi market with brands such as ‘Sony’ and ‘Panasonic’. SLEPT framework is used to analyze the current external business environment for issues affecting a business such a s Rich Sounds. The luxury hi-fi market has many external influences which can affect it. Technology is one of the main external influences from the SLEPT analysis. Development in technology has meant that smaller and sleeker devices such as iPods are selling instead of traditional hi-fi systems. Advances in technology, for example advertising has hugely helped the growing sales in the hi-fi market.Many electronics companies tend to have huge celebrity endorsements which in return boost their sales as people nowadays tend to favour electronics which are advertised by celebrities and follow the trend. It is said that companies such as Rich Sounds need to spend at least ? 1million on advertising in order to compete at the top level. (Mintel) Also more and more people tend to download their music nowadays and this means an increase in competition for Rich Sounds as more people would buy computers and laptops rather than hi-fis.Ownership of PCs has now reached high levels and the majorit y of consumers are accessing the Internet at least once a week at home. Another issue in SLEPT is economic factors. The current ‘credit crunch' has resulted in more and more people having less disposable income and this knock on effect means electronic sales could suffer. It is thought that due to this, people are less likely to buy hi-fi's, but instead buy necessities. The credit crunch has also reduced the amount of affluent people and this means it could reduce the market size and this means Rich Sounds could become more competitive.It could be said that spending on repairs has fallen dramatically over the last five years, as lower product prices mean it is often more cost-efficient to replace than repair. The final issue linked to economic factors is society. Hi-fi's are associated as being a seasonal product especially at Christmas time when people are buying them for presents so this is when Rich sounds would expect a huge increase in sales. Also people that work long ho urs and work further away from home can help boost Rich Sounds sales. Nowadays, commuting to work is tedious to a lot of people and so they can listen to audio equipment at this point.The final issue in SLEPT is political issues. Although there is not much to say for this point, I can briefly say that tax issues affect my firm. B) Drawing on your analysis of the external business environment, explain and justify the three most important issues currently facing your company. Word limit is 2000 words for this section. I will now discuss the three most important issues from the SLEPT analysis and these are the technological, social and economical issues. Trends are an important aspect of the economic environment.Nowadays it is becoming increasingly more fashionable to follow celebrity trends and those celebrities who advertise electronics such as hi-fis tend to sell the most. An example of this is when Sony used Justin Timberlake dancing on their adverts to help promote their goods and this saw a huge increase in sales. Research suggests that the two most popular hi-fi companies are Panasonic and Sony and these spend millions and millions on advertising. This means Rich Sounds could advertise new equipment with different celebrities to help promote it hugely. Another economic factor is the ‘credit crunch'.It has resulted in people having a lot less disposable income and so therefore hi-fi sales will fall dramatically. Due to this people will not splash out on luxury goods like hi-fis, however they will buy necessities instead. This provides a knock on effect and therefore Rich Sounds sales may fall. Also the credit crunch has seen a reduction in the amount of wealthy people and this can reduce the size of the market and therefore make Rich Sounds more competitive. http://academic. mintel. com. lcproxy. shu. ac. uk/sinatra/oxygen_academic/search_results/show&/display/id=271602/display/id=299002#hit1

Facebook’s Stock? Essay

Social networking has played a prominent role in allowing users to connect with each other around the world over the past decades. Social network sites are used in order to improve intimate communication and build better relationships with family, old and new friends. Facebook in particular is one of the most popular social networking sites. It provides a wide range of connection methods for users to interact with those people that they care about and to update status or photos on the website. The website was established by Mark Zuckerberg and his college friends in February 2004. It is owned and operated by Facebook Inc. The company has continued to develop and increase potentiality over the last eight years (PrivCo, 2011). As of March, 2012, there were more than 900 million Facebook users, more than 125 billion friend connections and there were an average of 300 million photos uploaded each day on the website (Facebook’s S-1 Filing, 2012). In this sense, Facebook has become the largest social networking sites in the world. Additionally, when the company started trading stock to public on 18 May, 2012, it was also recorded as the third largest IPO in the history of the United States (Hammond, 2012). However, the stock price has been significantly falling since selling the stock to public. Although social networking is a growing market and the company plans to continue developing its productions and services, investors remain worried about the ability of the company and they have doubted that the stock will not be able to turn profit margins in both short-term and long-term period. Therefore, the stock of Facebook should not be invested in because it is overvalued and overpriced and the company might struggle with commercial revenue and be restricted in many areas. This paper will describe the stock market and Facebook’s situation before and after trading to the public and will also discuss the question of investment in the stock of the company. It will then anticipate the future of Facebook.

Lcci Passport to Sucess Level 1 Book-Keeping Answer

Level 1 Book-keeping Solutions Booklet For further information contact us: Tel. +44 (0) 8707 202909 Email. [email  protected] com www. lcci. org. uk London Chamber of Commerce and Industry (LCCI) International Qualifications are provided by EDI, a leading international awarding body. Passport to Success Level 1 Book-keeping Solutions Booklet The initials LCCI and the words LONDON CHAMBER OF COMMERCE AND INDUSTRY are registered trademarks belonging to the London Chamber of Commerce and Industry and are used under licence.Every effort has been made to trace all copyright holders, but if any have been inadvertently overlooked the Publishers will be pleased to make the necessary arrangements at the first opportunity.  © EDI 2008 First published in 2008. All rights reserved. Apart from any use permitted under UK copyright law, no part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying and recording, or hel d within any information storage and retrieval system, without permission in writing from the publisher or under licence from the Copyright Licensing Agency Limited.Further details of such licences (for reprographic reproduction) may be obtained from the Copyright Licensing Agency Limited, Saffron House, 6–10 Kirby Street, London EC1N 8TS. Cover photo: www. fotolia. com TABLE OF CONTENTS 1. 2. 3. 4. The Accounting Equation and the Balance Sheet Double entry system for assets, liabilities and capital Recording double entry for stock The double entry system for Expenses and Revenues and the Effect of Profit (or loss) and drawings upon capital 1 4 7 11 5. 6. 7. 8. 9.Balancing accounts and the Trial Balance Trading and Profit & Loss Accounts: An introduction The Balance Sheet Final Accounts with further considerations The Division of the Ledger and Books of Original Entry 16 25 28 31 38 39 41 44 48 53 56 59 62 68 71 75 77 81 82 10. Bank Facilities 11. Cash Books 12. The Sales and Purchases Day Books 13. The Returns Day Books 14. The Journal 15. The Petty Cash Imprest System 16. Adjusting for accruals and prepayments 17. Depreciation of Fixed Assets 18. Bad Debts 19. Bank Reconciliation Statements 20.Capital and Revenue Expenditure 21. Errors in the accounts and their corrections 22. Control Accounts 23. Final Accounts and year end adjustments Chapter 1 The Accounting Equation and the Balance Sheet Answers to ‘Think about it’ Questions Page 5 – Why are liabilities shown on the right hand side of the balance sheet and not on the left? Because based on the accounting equation it has to be on the same side as capital. Answers to Activities Activity 1. 1 (a) (b) (c) (d) L A A A (e) L (f) A (g) C Activity 1. 2 ASSETS ? 5 000 4 200 4 100 3 500 6 900 CAPITAL ? 000 2 500 2 800 2 400 4 100 LIABILITIES ? 2 000 1 700 1 300 1 100 2 800 (a) (b) (c) (d) (e) Solutions to Target Practice Questions Question 1 (a) (b) (c) (d) (e) (f) ‘†¦assets l ess liabilities equals capital’. assets liabilities debtor creditor Balance Sheet 1 Question 2 ASSETS ? 3 100 800 2 200 LIABILITIES ? Shop fittings Cash register Stock of goods Creditors Loan – T Armani Bank 1 000 1 800 870 6 970 2 800 Capital = Assets – Liabilities Capital = 6970 – 2800 = ? 4170 Question 3 M Williams Balance Sheet at 30 June 20X6 ?Cash at Bank Stock of goods Fixtures and Fitting Debtors Motor vehicles 2 614 5 860 1 900 3 750 4 200 18 324 Creditors Loan – D Wong Capital (missing item) ? 4 150 3 600 10 574 _____ 18 324 Question 4 Transactions (a) The owner borrows ? 5000 from L Pole and the money is put into the business’ bank account. A debtor pays the business ? 250 by cheque. The owner buys a motor vehicle on credit ? 6200. The owner withdraws ? 160 from the business’s bank account for his personal use. The business sells goods on credit for ? 840. The owner puts a further ? 000 in cash into the business. The money is put into the business’s bank account. The business pays a creditor ? 290 by cheque. Assets + Bank Effect upon Liabilities + Loan Capital (b) (c) (d) + Bank – Debtors + Motor Vehicle – Bank + Creditors – Capital (e) (f) – Stock + Debtors + Bank + Capital (g) – Bank – Creditors 2 Question 5 W Mandrake Balance Sheet at 30 June 20X5 ? 5 360 4 500 1 845 2 800 5 100 19 605 ? 2 900 3 000 13 705 _____ 19 605 Stock of goods Debtors Cash at Bank Fixtures and fittings Motor vehicles Creditors Loan – L Walter Capital (balancing figure)W Mandrake Balance Sheet at 31 July 20X5 ? Stock of goods Creditors (5360 + 700 – 600) 5 460 (2900 + 700 – 400) Debtors Loan – L Walter (4500 – 1100 + 600) 4 000 Capital Cash at Bank (balancing figure) (1845 – 400 + 1100) 2 545 Fixtures and Fittings 2 800 Motor Vehicles 5 100 19 905 ? 3 200 3 000 13 705 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 19 905 Question 6 D Duncan Balance Sheet at 21 January 20X7 ? 20 000 2 100 500 100 700 123 300 ______ 123 300 ? 120 000 3 300 Motor Vehicles Stock of goods (1500 + 600) Debtor – A Gianna Cash at Bank (101 000 – 300) Capital Creditor – Stax Suppliers (3000 + 600 – 300)Question 7 The difference between a cash transaction and a credit transaction is based on when payment is made. With a cash transaction, payment is made immediately for goods and/or services purchased while in a credit transaction payment is made 3 Chapter 2 Double Entry System for Assets, Liabilities and Capital Answers to ‘Think about it’ Questions Page 16 – Why is it necessary to keep separate accounts for each debtor and creditor? So it can clearly be seen how much is owed to individual creditors and how much is owed by individual debtors. Answers to ActivitiesActivity 2. 1 (a) Bought office furniture for cash (b) Sold some office furniture on credit to C Bing (c) Bought motor vehicles on credit from Wong Ltd (d) A debtor, P Butler, pays the business by cheque (e) The owner puts a further amount into the business by cheque (f) Returned one of the motor vehicles to Wong Ltd (g) Paid a creditor, T Bird, by cash (h) Paid by cheque for the motor vehicle bought from Wong Ltd Debit Office Furniture C Bing Motor Vehicles Bank Bank Wong Ltd T Bird Wong Ltd Credit Cash Office Furniture Wong Ltd P Butler Capital Motor Vehicles Cash BankSolutions to Target Practice Questions Question 1 The left hand side of a ‘T’ account is the debit side and the right hand side is the credit side. To ‘debit’ an account the transaction is entered on the left hand side and to ‘credit’ an account, the transaction is entered on the right hand side. Question 2 There must be a debit entry and a corresponding credit entry of the same value (and vice versa) for every transaction that occurs. Question 3To know when to debit or credit an account, you will first need to determine the type of the account and decide how the transaction will affect the account ;( whether increase or decrease) and then apply the double entry rules as below: To increase an asset, DEBIT the account To decrease an asset, CREDIT the account To increase a liability or capital, CREDIT the account To decrease a liability or capital, DEBIT the account 4 Question 4 Bank ? 20X2 6 000 July 15 July 29 20X2 July 01 Capital Office Machinery Elstead Garage ? 420 2 900 Capital 20X2 July 01 Bank ? 6 000 20X2 July 06Motor Vehicle ? Elstead Garage 2 800 20X2 July 29 Bank Elstead Garage ? 20X2 2 800 July 06 Motor vehicle ? 2 800 20X2 July 15 Bank Office Machinery ? 420 20X2 July 23 Office Equipment ? Longmore & Sons 70 Longmore & Sons 20X2 July 23 Office equipment ? 370 Question 5 Cash ? 20X9 2 000 April 08 300 April 30 20X9 April 01 April 29 Capital Bank Bank Furniture World ? 1 000 800 5 Bank 20X9 April 01 April 03 April 08 Capital Loan – S Lee Cash ? 8 000 3 000 1 000 20X9 April 14 April 23 April 29 Delivery Van Loan – S Lee Cash ? 1 500 1 200 300 Capital 20X9 April 01 April 01Cash Bank ? 2 000 8 000 20X9 April 23 Loan – S. Lee ? 20X9 1 200 April 03 Bank ? 3 000 20X9 April 14 Bank Delivery Van ? 1 500 20X9 April 20 Furniture World Office Furniture ? 20X9 1 100 April 26 Furniture World ? 200 20X9 April 26 April 30 Office Furniture Cash Furniture World ? 20X9 200 April 20 800 Office Furniture ? 1 100 6 Chapter 3 Recording Double Entry for Stock Answers to Activities Activity 3. 1 Debit Office Furniture Cash Purchases A Litton D Penarth Motor Van Returns Inwards Purchases Credit Cash Sales A Litton Returns Outwards Sales Grange Garage D Penarth Bank a) Bought office furniture for use in the business by cash (b) Sold goods for cash (c) (d) (e) (f) Bought goods on credit from A Litton Returned to A Litton some of the goods bought Sold goods on credit to D Penarth Purchased motor van on credit from Grange Garage (g) D Penarth returned some goods to us (h) Bought goods paying immediately by cheque Solutions to Target Practice Questions Question 1 ‘Purchases’ means goods bought by the business with the intention of reselling them for profit as a part of its trading activities. ‘Sales’ means oods sold by the business that were originally bought for resale purposes. In other words, the sale of those goods in which the business trades or deals. Question 2 (a) This is not good practice. Parts returned to suppliers should be credited to a Returns Outwards Account and parts returned from customers should be debited to Returns Inwards Account. This is necessary to provide information on the totals of the returns and to assess whether these are increasing or decreasing over time. (b) Goods sold for cash is recorded by debiting the cash account and crediting the sales account.Goods sold on credit is first recorded by debiting the debtor account and crediting the sales account; when the debtor pays for the goods his account is credi ted and the bank/cash is debited. Question 3 (a) (b) (c) (d) (e) (f) Sold goods on credit to F. Winter N. Armour returns goods to you You settle a creditor’s account by cheque F. Winter pays his account You pay Grange Garages by cheque the amount due on the delivery vehicle previously purchased You return goods to B. Smart Debit F Winter Returns Inwards Creditor Bank Grange Garages B Smart Credit Sales N Armour Bank F Winter Bank Returns Outwards Question 4 20X7 March 01 Capital March 30 B Wright Bank ? 20X7 10 000 March 03 Office Furniture 70 March 23 Scales Motors March 26 T Hunt ? 460 3 600 320 Capital 20X7 March 01 Bank ? 10 000 20X7 March 03 Bank Office Furniture ? 460 20X7 March 05 Purchases Purchases ? 375 T Hunt 20X7 20X7 ? March 08 Returns Outwards 55 March 05 March 26 Bank 320 Purchases ? 375 Returns Outwards 20X7 March 08 T Hunt ? 55 20X7 March 12 Sales B Wright 20X7 ? 156 March 19 March 30 Returns Inwards Bank ? 26 70 Sales 20X7 March 12 B Wright ? 56 8 20X7 March 15 Scales MotorsMotor Vehicle ? 3 600 20X7 March 23 Bank Scales Motors ? 20X7 3 600 March 15 Motor Vehicle ? 3 600 20X7 March 19 B Wright Returns Inwards ? 26 Question 5 20X7 October 01 Capital October 17 Cash Cash 20X7 ? 8 600 October 02 80 October 07 ? 8 000 179 Bank Purchases Capital 20X7 October 01 Cash ? 8 600 20X7 October 02 Cash October 23 Loan – R Nandha October 31 J Durrant Bank ? 20X7 8 000 October 21 October 29 1 200 303 Motor Vehicle M Price ? 1 990 100 20X7 October 03 October 07 M Price Cash Purchases ? 250 179 20X7 October 13 Returns Outwards October 29 Bank M Price ? 0X7 October 03 32 100 Purchases ? 250 9 Fixtures & Fittings 20X7 October 05 Display Ltd ? 2 750 20X7 October 07 Display Ltd ? 730 Display Ltd 20X7 ? 20X7 ? October 09 Fixtures & Fittings 30 October 05 Fixtures & Fittings 2 750 20X7 October 11 Sales J Durrant 20X7 ? 345 October 26 Returns Inwards October 31 J Durrant ? 42 303 Sales 20X7 October 11 J Durrant October 17 Cash ? 345 80 Returns Outwards 20X7 October 13 M Price ? 32 20X7 October 21 Bank Motor Vehicle ? 1 990 Loan – R Nandha 20X7 October 23 Bank ? 1 200 20X7 October 26 J Durrant Returns Inwards ? 42 10Chapter 4 The Double Entry System for Expenses and Revenues and the Effect of Profit (or Loss) and Drawings upon Capital Answers to ‘Think about it’ Questions Page 36 – What kinds of expense and revenue accounts would you expect to see in the books of a Bank? Revenue Accounts Loan interest receivable Commission receivable Service charges (eg. bank charges) Expense Accounts Interest payable Salaries and wages Insurance Stationery Utilities Answers to Activities Activity 4. 1 Transactions Paid general expenses in cash ? 150 Received commission by cheque ? 230 Paid for office stationery by cash ? 5 Paid telephone by cheque ? 230 Received interest of ? 350 by cheque Accounts General Expense Cash Bank Commission Receivable Office Stationery Cash Telephone Bank Bank Interest Receivable Type of acco unt Expense Asset Asset Revenue Expense Asset Expense Asset Asset Revenue Transaction effect Increase Decrease Increase Increase Increase Decrease Increase Decrease Increase Increase Action in the account Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Solutions to Target Practice Questions Question 1 (a) Revenue (b) The entries are on the credit side of the account. 11Question 2 Expense accounts should be debited and revenue accounts should be credited. Question 3 20X3 April 01 April 24 April 30 Bank 20X3 ? 5 000 April 03 85 April 05 1 000 April 14 April 21 April 27 ? 370 260 130 20 385 Capital Sales Capital Office Equipment Rent Cash Stationery A Smart Capital 20X3 April 01 April 30 Bank Bank ? 5 000 1 000 20X3 April 03 Bank Office Equipment ? 370 20X3 April 05 Rent Rent ? 260 20X3 April 08 A Smart Purchases ? 420 20X3 April 11 April 27 Returns Outwards Bank A Smart ? 20X3 35 April 08 385 Purchases ? 420 Returns Outwards 20X3 April 11 A Smart ? 35 12 0X3 April 14 Bank ? 130 Cash 20X3 April 15 Wages ? 115 20X3 April 15 Cash Wages ? 115 20X3 April 18 Sales R Squires ? 175 Sales 20X3 April 18 April 24 R Squires Bank ? 175 85 20X3 April 21 Bank Stationery ? 20 Question 4 Bank 20X4 ? 7 000 May 02 100 May 08 May 19 May 24 May 26 May 31 Capital 20X4 May 01 20X4 May 01 May 28 Capital D Langford Rent Fixtures & Fittings Drawings Cash R Lester Office Equipment ? 280 170 160 240 470 215 Bank ? 7 000 20X4 May 02 Bank Rent ? 280 13 20X4 May 05 R Lester Purchases ? 520 20X4 May 12 May 26 Returns Outwards Bank R Lester 20X4 ? 45 May 05 475 Purchases 520 20X4 May 08 Bank Fixtures & Fittings ? 170 Returns Outwards 20X4 May 12 R Lester ? 45 Sales 20X4 May 15 D Langford ? 32 20X4 May 15 Sales D Langford 20X4 ? May 22 32 May 28 Returns Inwards Bank ? 24 100 20X4 May 19 Bank Drawings ? 160 20X4 May 22 D Langford Returns Inwards ? 30 20X4 May 24 Bank Cash ? 20X4 240 May 30 Wages ? 80 14 20X4 May 30 Cash Wages ? 80 20X4 May 31 Bank Office Equipment ? 215 Question 5 Drawings are defined as money, goods, or services withdrawn from the business by the owner(s) for their personal use. Drawings reduce the capital of the business. Question 6 a) Answer = ? 2500 Workings: 1 February 20X7 Assets Equipment Stock Bank Liabilities Creditors Loan Capital ? 8 000 6 000 2 000 ? 2 000 1 000 ?16 000 ?3 000 ?16 000 – ? 3000 = ? 13 000 28 February 20X7 Assets Equipment Stock Bank Liabilities Creditors Loan Capital ? 8 000 2 000 8 500 ? 2 000 1 000 ?18 500 ?3 000 ?18 500 – ? 3000 = ? 15 500 Therefore, Opening Capital + Profit = Closing Capital ? 13 000 + ? = ? 15 500 ? 15 500 – ? 13 000 = ? 2500 (b) Profits increase capital whereas losses reduce it. 15 Chapter 5 Balancing Accounts and the Trial Balance Answers to ‘Think about it’ QuestionsPage 49 – How the double entry principle relates to the balancing of accounts. For every ‘balance c/d’ there is a corresponding ‘balance b/d’ of the same amoun t on the opposite side of the account. Answers to Activities Activity 5. 1 (a) An account will have a debit balance if the total of the debit entries is greater than the total of the credit entries. This means that the balance brought down from the last month (balance b/d) is on the debit side of the account. (b) An account will have a credit balance if the total of the credit entries is greater than the total of the debit entries.This means that the balance brought down from the last month (balance b/d) is on the credit side of the account. (c) The ‘balance c/d’ is the amount transferred (carried down or carried forward) from one accounting period to the next; this is the balance at the last date of the accounting period (e. g. a month). The ‘balance b/d is the amount transferred (brought down or brought forward) from a previous accounting period to the current one; this is the balance at the first date of the accounting period. (d) The double lines are necessary to show that the account has been balanced and that the totals are final figures. e) Accounts are closed off when there is no balance on the account at the end of the accounting period. Activity 5. 2 20X9 July 01 July 04 July 09 July 13 July 15 July 19 July 22 July 24 July 29 Capital Equipment Wages Sales Computers Wages Sales Motor vehicles Wages Debit ? 55 000 Credit ? 5 000 900 Balance ? 55 000 50 000 49 100 58 650 50 650 49 750 53 630 47 630 46 530 9 550 8 000 900 3 880 6 000 1 100 16 Solutions to Target Practice Questions Question 1 E. Appleby 20X6 ? 650 October 07 Returns Inwards 276 October 18 Bank 190 October 31 Balance c/d 1 116 506 0X6 October 03 Sales October 12 Sales October 24 Sales November 01 Balance b/d ? 120 490 506 1 116 Answer – There is a debit balance of ? 506. Question 2 N Small ? 145 215 185 ___ 545 365 20X3 March 04 March 18 March 23 Sales Sales Sales 20X3 March 13 March 26 March 30 March 31 Returns Inwards Returns Inwards Bank Balance c/d ? 20 35 125 365 545 April 01 Balance b/d 20X3 March 21 March 31 Bank Bank A Smith 20X3 ? 70 March 10 290 360 Purchases ? 360 ___ 360 20X3 March 07 March 28 March 31 T Dove 20X3 ? Returns Outwards 35 March 02 Bank 235 March 15 Balance c/d 310 580 April 01 Purchases PurchasesBalance b/d ? 270 310 ___ 580 310 N Small is a debtor and T Dove is a creditor. A Smith is neither. 17 Question 3 T Dove 20X3 March 02 March 07 March 15 March 28 Purchases Returns Outwards Purchases Bank Debit ? 35 310 235 Credit ? 270 Balance ? 270 Cr 235 Cr 545 Cr 310 Cr N Small 20X3 March 04 March 13 March 18 March 23 March 26 March 30 Sales Returns Inwards Sales Sales Returns Inwards Bank Debit ? 145 215 185 35 125 Credit ? 20 Balance ? 145 Dr 125 Dr 340 Dr 525 Dr 490 Dr 365 Dr A Smith 20X3 March 10 March 21 March 31 Purchases Bank Bank Debit ? 70 290 Credit ? 360 Balance ? 360 Cr 290 Cr NILQuestion 4 (a) 20X5 January 01 January 23 January 26 January 31 Capital Cash S Lee Capital Bank ? 20X5 25 000 January 01 6 000 Janua ry 25 5 500 January 29 5 000 January 30 January 30 January 31 _____ January 31 41 500 23 000 ? Rent 2 000 Cash 500 Midland Motors 4 000 D. Terry 8 000 E. Appleby 2 000 Electricity 2 000 Balance c/d 23 000 41 500 February 01 Balance b/d 20X5 January 31 Balance b/d Capital ? 20X5 30 000 January 1 Bank .. †¦Ã¢â‚¬ ¦. January 31 Bank 30 000 February 01 Balance c/d ? 25 000 5 000 30 000 30 000 18 20X5 January 1 Bank February 01 Balance b/d Rent 20X5 ? 2 000 January 31 2 000 2 000Balance c/d ? 2 000 2 000 20X5 January 03 January 05 January 15 D Terry E Appleby D Terry February 01 Balance b/d Purchases ? 20X5 5 000 January 31 3 000 10 000 18 000 18 000 Balance c/d ? 18 000 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 18 000 20X5 January 22 January 30 January 31 Returns Outwards Bank Balance c/d D Terry 20X5 ? January 03 Purchases 2 000 January 15 Purchases 8 000 5 000 15 000 February 01 Balance b/d ? 5 000 10 000 _____ 15 000 5 000 Motor Car 20X5 20X5 ? January 04 Midland Motors 4 000 January 31 February 01 Balance b/d 4 000 Balance c/d ? 4 000 20X5 January 29 Bank Midland Motors 20X5 ? 4 000 January 4 4 000 Motor Car 4 000 4 000 20X5 January 30 January 31 Bank Balance c/d E Appleby 20X5 ? Purchases 2 000 January 5 1 000 3 000 February 01 Balance b/d ? 3 000 †¦Ã¢â‚¬ ¦.. 3 000 1 000 19 20X5 January 10 January 25 Sales Bank February 01 Balance b/d Cash 20X5 ? 6 000 January 23 500 January 28 †¦Ã¢â‚¬ ¦.. January 31 6 500 250 Bank Office expenses Balance c/d ? 6 000 250 250 6 500 20X5 January 31 Balance c/d Sales 20X5 ? 14 000 January 10 Cash †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ January 20 S Lee 14 000 February 01 Balance b/d ? 6 000 8 000 14 000 14 000 20X5 January 20 Sales February 01 Balance b/d S Lee 20X5 ? 8 000 January 24 January 25 †¦Ã¢â‚¬ ¦.. January 31 8 000 1 500Returns Inwards Bank Balance c/d ? 1 000 5 500 1 500 8 000 20X5 January 31 Balance c/d Returns Outwards 20X5 ? 2 000 January 22 D Terry 2 000 February 01 Balance b/d ? 2 000 2 000 2 000 20X5 January 24 S Lee February 01 B alance b/d Returns Inwards 20X5 ? 1 000 January 31 1 000 1 000 Balance c/d ? 1 000 1 000 20 Office Expenses 20X5 ? Cash 250 January 31 250 February 01 Balance b/d 250 20X5 January 28 Balance c/d ? 250 250 20X5 January 31 Bank February 01 Balance b/d Electricity 20X5 ? 2 000 January 31 2 000 2 000 Balance c/d ? 2 000 2 000 (b) Steve Trial Balance at 31January 20X5 DR CR ? Bank Capital Rent Purchases D Terry Motor Car E Appleby Cash Sales S Lee Returns Outwards Returns Inwards Office Expenses Electricity 23 000 30 000 2 000 18 000 5 000 4 000 1 000 250 14 000 1 500 2 000 1 000 250 2 000 52 000 _____ 52 000 Question 5 Bank 20X8 ? 5 000 May 16 700 May 27 May 30 †¦Ã¢â‚¬ ¦.. May 31 5 700 1 300 20X8 May 01 May 18 Balance b/d Bank Dodd Delivery Van Cash Balance c/d ? 2 900 1 200 300 1 300 5 700 June 01 Balance b/d 21 20X8 May 31 Balance c/d Capital 20X8 ? 20 000 May 01 20 000 June 01 Balance b/d Balance b/d ? 20 000 20 000 20 000 20X8 May 01 May 04 May 30 June 01 Balance b/d Sales Bank Balance b/d Cash 20X8 ? 000 May 07 2 000 May 23 300 May 31 3 300 900 Purchases Office Expenses Balance c/d ? 1 500 900 900 3 300 20X8 May 16 May 31 Bank Balance c/d Dodd 20X8 ? 2 900 May 01 2 100 May 02 5 000 June 01 Balance b/d Purchases Balance b/d ? 2 000 3 000 5 000 2 100 20X8 May 01 May 10 June 01 Balance b/d Sales Balance c/d Fish ? 20X8 6 000 May 18 5 000 May 31 11 000 10 300 ? Bank Balance b/d 700 10 300 11 000 20X8 May 01 June 01 Balance b/d Balance b/d Furniture ? 20X8 10 000 May 31 10 000 10 000 Balance c/d ? 10 000 10 000 20X8 May 02 May 07 June 01 Dodd Cash Balance b/d Purchases 20X8 ? 3 000 May 31 1 500 4 500 4 500 Balance c/d 4 500 †¦Ã¢â‚¬ ¦.. 4 500 22 20X8 May 31 Balance c/d Sales 20X8 ? 7 000 May 04 ____ May 10 7 000 June 01 Cash Fish Balance b/d ? 2 000 5 000 7 000 7 000 20X8 May 23 June 01 Cash Balance b/d Office Expenses 20X8 ? 900 May 31 900 900 Balance c/d ? 900 900 20X8 May 27 June 01 Bank Balance b/d Delivery Van 20X8 ? 1 200 May 31 1 200 1 200 Balance c/ ? 1 200 1 200 (b) Tom Trial Balance at 31 May 20X8 DR CR ? ? Bank Capital Cash Dodd Fish Furniture Purchases Sales Office Expenses Delivery Van 1 300 20 000 900 2 100 10 300 10 000 4 500 7 000 900 1 200 29 100 †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 29 100 23 Question 6 (a) T. Lennon Trial Balance at 31 December 20X9 DR CR ? Motor Vehicle Purchases Sales Stock of Goods Cash at Bank Fixtures and Fittings Wages Debtors Creditors Rent Drawings General Expenses Loan from D. Waller Capital 4 500 2 960 4 230 1 800 6 740 7 900 2 310 1 960 2 600 1 250 180 930 2 000 21 700 30 530 30 530 (b) A trial balance checks the arithmetical accuracy of the double entry. (c) Errors not revealed by the trial balance: 1. A transaction that has been completely omitted 2. A transaction that was entered correctly but using the wrong amount Errors revealed by the trial balance 1. Entering only one side of a transaction 2. Addition errors Question 7 a) (b) (c) (d) (e) (f) Credit Debit Debit Credit Credit Debit 24 Chapter 6 Trading and Profit & Loss Accounts: An Introduction Answers to Activities Activity 6. 1 Year Sales ? Cost of goods sold ? 23 230 23 900 21 500 Gross Profit/Loss ? 5 890 2 889 7 000 Operating Expenses ? 3 311 3 600 2 900 Other Revenue ? 600 200 – Net Profit / Loss ? 3 179 (511) 4 100 2005 2006 2007 29 120 26 789 28 500 Solutions to Target Practice Questions Question 1 Andrew Gordon Trading and Profit & Loss Account for the year ended 31 December 20X2 ? 26 200 3 100 23 100 11 570 34 670 6 100 1 200 160 380 3 730 11 570 ? 34 670 _____ 34 670 Gross profit b/d 11 570Purchases Less Stock at 31 December 20X2 Cost of goods sold Gross profit c/d Wages Rent Insurance Lighting and heating Net profit Sales ______ 11 570 25 Question 2 A. Darnell Trading and Profit & Loss Account for the year ended 30 September 20X7 ? 23 380 3 650 19 730 11 140 30 870 900 320 860 4 200 165 4 695 11 140 ? 30 870 _____ 30 870 Gross profit b/d 11 140 Purchases Less Stock at 30 September 20X7 Cost of goods sol d Gross profit c/d Rent Insurance Motor vehicle expenses Wages General expenses Net profit Sales _____ 11 140 Question 3 B. Betty Trading and Profit & Loss Account for the year ended 30 June 20X5 ? 1 160 2 800 18 360 10 280 28 640 2 240 5 100 190 315 2 435 10 280 ? 28 640 _____ 28 640 Gross profit b/d 10 280 Purchases Less Stock at 30 June 20X5 Cost of goods sold Gross profit c/d Rent Wages Insurance Office expenses Net profit Sales ______ 10 280 26 Question 4 Ada Cheung Trading and Profit & Loss Account for the year ended 31 March 20X3 Purchases Less Stock at 31 March 20X3 Cost of goods sold Gross profit c/d Wages Rent Advertising Lighting and heating Sundry expenses Net profit ? 46 820 9 140 37 680 16 020 53 700 7 360 2 370 840 765 1210 3 475 16 020 Sales ? 53 700 _____ 53 700 Gross profit b/d 16 020 _____ 16 020 Question 5 (a) 1. Comparing performance with other businesses or with previous periods of time to see if the business is growing. Planning ahead – profits will all ow the firm to expand so information about how much profit has been made and how it was made will be important in deciding what to do in the future. To help the business to control and monitor its expenses. 2. 3. (b) This means that his cost of goods sold was more than the sales revenue; he sold the goods for less than he paid for them. 27 Chapter 7 The Balance Sheet Answers to ‘Think about it’ QuestionsPage 72 – Why the balance sheet is prepared at a specified date while the trading and profit and loss is prepared for a period of time. Because it shows the financial position of a business at a particular date and not for a particular period of time. It shows the value of assets and liabilities as they are at a specific date. Solutions to Target Practice Questions Question 1 1. Fixed assets are presented in order of decreasing permanence while current assets are presented in increasing order of liquidity. Question 2 J Robinson Balance Sheet at 31 March 20X7 ? Fix ed Assets Buildings Fixtures and fittings Motor vehicle ?Capital (missing figure) ? 47 020 35 000 2 860 6 400 44 260 Current Assets Stock Debtors Bank Cash 4 360 7 200 2 950 80 14 590 58 850 Current Liabilities Creditors Long-term Liabilities Loan 6 830 5 000 ______ 58 850 28 Question 3 Andrew Gordon Balance Sheet as at 31 December 20X2 ? Fixed Assets Premises Fixtures and fittings Motor vehicle ? Capital Add: Net profit Less: Drawings ? ? 68 660 3 730 2 600 1 130 69 790 Current Liabilities Creditors 54 000 1 200 5 600 60 800 Current Assets Stock Debtors Bank 3 180 3 460 4 130 10 690 71 490 1 700 _____ 71 490 Question 4 A Darnell Balance Sheet as at 30 September 20X7 ?Fixed Assets Premises Fixtures and fittings Motor vehicle ? Capital Add: Net profit Less: Drawings ? ? 34 555 4 695 3 200 1 495 36 050 Current Liabilities Creditors 24 000 850 4 200 29 050 Current Assets Stock Bank Cash 3 650 2 130 70 9 900 38 950 2 900 38 950 29 Question 5 B Betty Balance Sheet as at 31 June 20X5 ? Fi xed Assets Office furniture Motor vehicle ? Capital Add: Net profit Less: Drawings ? ? 7 500 2 435 1 230 1 205 8 705 Current Liabilities Creditors 1 870 650 2 800 ____ 3 450 2 800 2 360 1 890 75 _7,125 10 575 Current Assets Stock Debtors Bank Cash _____ 10 575 Question 6 Ada Cheung Balance Sheet as at 31 March 20X3 ?Fixed Assets Premises Fixtures and fittings Motor vehicle ? Capital Add: Net profit Less: Drawings ? ? 68 335 3 475 3 700 __(225) 68 110 Current Liabilities Creditors 43 000 5 700 5 300 54 000 Current Assets Stock Debtors Bank 9 140 8 200 1 710 19 052 73 050 4 940 _____ 73 050 30 Chapter 8 Final Accounts with Further Considerations Answers to Activities Activity 8. 1 T Antonio Trading Account for the month ending 30 April 20X8 Opening Stock Purchases Add Carriage inwards Less Returns outwards Less Closing Stock Cost of goods sold Gross profit c/d ? 3 855 2 680 102 2 782 139 Sales Less Returns inwards Turnover ? 280 139 5 141 2 643 6 498 2 631 3 867 1 274 5 141 5 141 Solu tions to Target Practice Questions Question 1 (a) Carriage Inwards is associated with the cost of getting goods into the business and ready for resale so it is always added to the cost of purchases in the Trading Account. Carriage Outwards is a necessary cost of ‘distribution’ of sales to customers and so it is debited to the Profit & Loss Account with other expenses. (b) It is necessary to include returns inwards and returns outwards in the trading account to adjust the purchases and sales figures to find the amounts actually bought and sold. c) It shows the amount of resources a business has that can be readily turned into cash. 31 Question 2 R Knight Trading and Profit & Loss Account for the year ended 31 October 20X6 ? Sales Less: Returns inwards Turnover Less: Cost of goods sold Opening stock Purchases Add: Carriage inwards Net purchases Less: Closing stock Gross Profit Less: Expenses Carriage outwards Wages Sundry expenses Net Profit ? ? 120 500 740 119 760 15 200 75 400 2 150 77 550 92 750 13 600 79 150 40 610 3 200 28 500 2 230 33 930 6 680 32 Question 3T Pearl Trading and Profit & Loss Account for the year ended 31 August 20X7 ? Sales Less: Returns inwards Turnover Less: Cost of goods sold Opening stock Purchases Add: Carriage inwards Less Returns outwards Net purchases Less: Closing stock Gross Profit Add: Rent Receivable Less: Expenses Carriage Outwards Rent Payable Lighting and heating Telephone Net Profit ? ? 34 350 1 230 33 120 4 360 26 500 940 27 440 1 050 26 390 30 750 4 210 26 540 6 580 600 7 180 540 2 100 430 215 3 305 3 875 33 Question 4 P Franks Trading and Profit & Loss Account For the year ended 28 February 20X8 ?Sales Less: Returns Inwards Turnover Less: Cost of goods sold Opening stock Purchases Less: Returns outwards Net purchases Less: Closing stock Gross Profit Less: Expenses Lighting and heating Salaries and wages Sundry expenses Rent and rates Net Profit ? ? 221 300 5 200 216 100 12 600 155 400 6 650 148 750 161 350 16 100 145 250 70 850 3 900 48 500 4 650 2 300 59 350 11 500 34 P Franks Balance Sheet at 28 February 20X8 ? Fixed assets Premises Equipment Motor vehicle Current assets Stock Debtors Bank Cash Less: Current liabilities Creditors Net current assets Long-term liabilities Loan ? 04 000 28 000 21 000 153 000 16 100 23 750 960 76 40 886 15 716 25 170 178 170 32 000 146 170 Financed by: Capital Balance b/d Add: Net profit Less: Drawings 145 270 11 500 156 770 10 600 146 170 35 Question 5 T Williams Trading and Profit & Loss Account for the year ended 31 May 20X8 ? Sales Less: Returns inwards Turnover Less: Cost of goods sold Opening Stock Purchases Add: Carriage inwards Less: Returns outwards Net purchases Less: Closing stock Gross Profit Less: Expenses Wages and salaries Rent Insurance Sundry expenses Carriage Outwards Net Profit ? 139 200 430 138 770 27 230 103 500 630 104 130 960 103 170 130 400 30 580 99 820 38 950 15 320 5 400 325 475 2 340 23 860 15 090 36 T Williams Balance Sheet at 31 May 20X8 ? Fixed assets Buildings Fixtures and fittings Current assets Stock Debtors Bank Cash Less: Current liabilities Creditors Net current assets Long-term liabilities Loan Financed by: Capital balance b/d Add: Net profit Less: Drawings ? 32 000 4 250 36 250 30 580 21 460 4 450 195 56 685 12 240 44 445 80 695 15 000 65 695 62 005 15 090 77 095 11 400 65 695 37 Chapter 9 The Division of the Ledger and Books of Original Entry Answers to ‘Think about it’ QuestionsPage 93 – What have you noticed about the Cash Book? It is a Book of Original Entry as well as a Ledger. Answers to Activities Activity 9. 1 1. 2. 3. 4. 5. 6. General Ledger Sales Ledger General Ledger General Ledger General Ledger or Private Ledger General Ledger Solutions to Target Practice Questions Question 1 (a) They provide documentation (proof) that a transaction has occurred. (b) 1. 2. They save time as they summarise similar transactions for the period, resulting in less information and les s frequent postings to the General Ledger.They allow a business to have different individuals responsible for different journals therefore increasing internal control. Question 2 (a) Debtors Ledger (b) Creditors Ledger (c) Nominal Ledger Question 3 (a) (b) (c) (d) (e) Real Nominal Nominal Real Real Question 4 (a) (b) (c) (d) (e) (f) Cash Book Cash Book Cash Book Cash Book Purchases Day Book Cash Book 38 Chapter 10 Bank Facilities Answers to Activities Activity 10. 1 Payee Cheque number Drawer Counterfoil Crossed cheque Mary White is writing a cheque for ? 200 to John Blue.As she is the drawer she must make sure that she signs the cheque. Her book-keeper told her to always fill out the counterfoil so she will have a record of the payment. As the cheque number is on the counterfoil as well as the cheque it will help her to trace the payment. She has decided to give John a crossed cheque as she is worried that the cheque might get lost. John is not very happy about this. As he is the p ayee it means he will not be able to get the money from the bank immediately. Solutions to Target Practice Questions Question 1 Bank 20X7 ? 45 December 15 December 22 20X7 November 30 Interest receivable Interest payable Bank charges ? 320 45 Interest Receivable 20X7 November 30 Bank ? 145 20X7 December 15 Bank Interest Payable ? 320 20X7 December 22 Bank Bank Charges ? 45 Question 2 A bank overdraft occurs when the bank allows a current account holder to withdraw more money from the account than is actually in the account. For example, the account holder only has ? 800 in the account but with the permission of the bank is allowed to withdraw up to a maximum of ? 1500. 39 Question 3A standing order is used for payments of fixed amounts at regular intervals at the request of the account holder while a direct debit is made at the request of the payee (the person/organisation that is owed) and can be used for either fixed or changing amounts and for payments at irregular intervals. Que stion 4 (a) Interest receivable is the interest received on the balance of an interest bearing account; the amount the bank pays the account holder for the use of the money in the account. (b) Interest payable is the cost of borrowing; it is the payment to the lender (the bank) for the use of its money. c) Bank charges is a charge by a bank for the services it provides. Question 5 (a) (b) (c) (d) Direct Debit Credit transfer Standing order Dividend Question 6 (a) 1. 2. Current account Deposit account (b) Current accounts do not always earn interest, deposit accounts do. Question 7 (a) (b) (c) (d) ? 2738. 57 – ? 206. 05 = ? 2532. 52 Credit column Credit transfer Loan repayment through a standing order 40 Chapter 11 Cash Books Answers to ‘Think about it’ Questions Page 111 – Is it possible for the cash columns to have a credit balance? Give reasons for your answer. No – because it is impossible to spend more cash than is available.If the business has cash in hand of only ? 50 then it cannot spend more than this amount. Solutions to Target Practice Questions Question 1 (a) As a book of original entry it is the first place where all the cash and cheque transactions are recorded; it is also one side of the double entry. (b) Where the debit and credit entries for a transaction are in the same ledger or book. Question 2 F. Patel – Cash Book Bank 20X3 Details ? Bank (C) Nov 02 Rent 2 800 Nov 03 Purchases Nov 07 Stationery 230 Nov 10 Wages Nov 12 Cash (C) 200 Nov 14 Carriage in Nov 20 Drawings Nov 26 Bank (C) Nov 28 Purchases Nov 30 Balances c/d †¦Ã¢â‚¬ ¦..Nov 30 3 230 2 130 20X3 Nov 01 Nov 02 Nov 14 Nov 17 Nov 23 Nov 28 Details Capital Cash (C) Bank (C) Sales Sales Cash (C) Cash ? 3 000 160 220 Cash ? 2 800 46 120 Bank 140 370 160 34 60 200 120 3 380 430 2 130 3 230 Dec 1 Balances b/d †¦Ã¢â‚¬ ¦.. 3 380 120 41 Question 3 T. Karekla – Cash Book Cash Bank 20X9 Details ? ? Motor vehicle 6 000 July 3 150 Cash (C) Ju ly 4 Rent 2 000 July 8 100 Purchases July 10 390 Carriage in July 18 Cash (C) 540 July 20 Purchases 300 July 24 Wages July 24 Bank (C) July 30 Balances c/d July 31 ___ ____ 640 8 840 95 4 460 0X9 July 1 July 4 July 15 July 20 July 23 July 29 July 30 Details Capital Bank (C) Loan Bank (C) Sales Sales Cash (C) Cash ? 85 Bank ? 3 000 150 460 40 100 20 300 95 670 100 4 460 8 840 Aug 1 Balances b/d Question 4 Maria Metaxa – Cash Book Cash Bank 20X7 DETAILS ? 65 ? 3 196 2 610 1 250 2 730 2 945 1 760 Feb 02 Feb 06 Feb 06 Feb 12 Feb 12 Feb 15 Feb 16 Feb 19 Feb 21 Feb 25 Feb 27 Feb 28 Feb 28 Feb 28 Postage Purchases Wages Cash (C) Wages Electricity Stationery Wages Travelling expenses Telephone Wages P Barratt D Smart Balances c/d 20X7 Feb 01 Feb 04 Feb 08 Feb 10 Feb 12 Feb 19 Feb 23DETAILS Balances b/d Sales D Pole Sales Bank (C) Sales E Holme Discount Allowed ? 30 Discount Received ? Cash ? 50 Bank ? 1 075 2 167 100 1 964 53 100 40 38 1 840 19 132 1 920 1 240 2 145 1 855 14 491 __ 7 0 Mar 1 Balances b/d ___ 165 58 _____ 14 491 1 855 20 55 __ 75 58 165 (b) Discount Allowed ? Total for the month 70 20X7 February 28 42 Discount Received 20X7 February 28 Total for the month ? 75 Question 5 (a) 20X2 Oct 01 Oct 02 Oct 10 Oct 12 Oct 18 Oct 20 Oct 21 Oct 21 Oct 26 DETAILS Balances b/d P Mace Sales G Lai Bank (C) Sales Loan interest Cash (C) B Chalke Discount Allowed ? 150 1 120 60 16 1 120 704 Sally Foon – Cash Book Cash Bank 20X2 DETAILS ? 68 ? 160 2 086 560 Oct 01 Oct 12 Oct 14 Oct 16 Oct 18 Oct 21 Oct 22 Oct 22 Oct 24 Oct 28 Oct 30 Oct 30 Oct 31 Balances b/d W Eastern Stationery F Samway Cash (C) Bank (C) Wages G Lai Telephone Office Expenses L. Hall Interest paid Balances c/d Discount Received ? Cash ? 35 4 1 120 35 560 147 40 13 __ 17 247 20 1 618 14 491 86 150 Bank ? 1 692 75 __ 24 Nov 1 Balances b/d ____ 1 398 203 _____ 4 630 1 618 203 1 398 (b) The ? 24 discount allowed will be posted to the debit side of the discount allowed account.The ? 17 discount re ceived will be posted to the credit side of the discount received account. (c) 20X2 October 31 Discount Allowed ? Total for the month 24 Discount Received 20X2 October 31 Total for the month ? 17 43 Chapter 12 The Sales and Purchases Day Books Answers to ‘Think about it’ Questions Page 125 – Why do you think the invoice numbers are not sequential in S French’s Purchases Day Book? Because S French has not assigned unique numbers to each invoice but is instead using the invoice numbers as received from the different sellers.Solutions to Target Practice Questions Question 1 (a) Sales Day Book Date 20X8 Oct 01 Oct 04 Oct 09 Oct 15 Oct 23 Oct 29 Oct 31 Details F Law G Harding S Wilks L Ryle F Law G Harding Transferred to Sales Account Net Amount ? 612 436 370 810 354 508 3 090 (b) Sales Ledger 20X8 October 01 F Law ? 612 Sales 20X8 October 04 Sales G Harding ? 436 20X8 October 09 Sales S Wilks ? 370 44 L Ryle 20X8 October 15 Sales ? 810 20X8 October 23 Sales F Law ? 354 20X8 October 29 Sales k G Harding ? 508 General Ledger (c) Sales 20X8 ? October 30 Credit sales for the month 3 090 Question 2 (a)Sales Day Book Date 20X5 July 02 July 07 July 12 July 18 July 23 July 30 July 31 Details D Smith T Ronald N Smithers L Malt D Smith T Ronald Transferred to Sales Account Net Amount ? 488 480 256 186 221 435 2 066 (b) Sales Ledger 20X5 July 02 D Smith ? 488 Sales 45 20X5 July 07 July 30 Sales Sales T Ronald ? 480 435 N Smithers ? 256 20X5 July 12 Sales 20X5 July 18 Sales L Malt ? 186 20X5 July 23 Sales D Smith ? 221 General Ledger Sales 20X5 July 31 Credit sales for the month ? 2 066 Question 3 (a) Purchases Day Book Date 20X3 April 01 April 03 April 10 April 14 April 21 April 27 April 30

Partisan Politics Essay Example | Topics and Well Written Essays - 750 words

Partisan Politics - Essay Example This thereby led to the establishment of two different political factions the republicans and the federalists. The republicans were proponents of limiting the federal government powers and giving the state more authority thereby expanding popular participation in politics. The federalists on the other hand strongly supported the national government and international ties especially with Great Britain and pushed for more power to be handed to the federal government. This paper looks at the Federalists views and the main motivator or the reasons why the Federalists pushed for a central government in the United States. The Federalist Party was supported mainly because of seven main issues which the party members deemed important for a great American nation. First there was the funding of the public debt which the Federalists saw necessary for the greater American nation. The Federalist asserted that the fund would help in times of public danger especially from foreign war and to increase the respectability of the American nation (Kincaid, 2011). The consolidated fund of the American nation would also promote trade and also agriculture and manufacturing. The economic advantages also included the lowered interest of money due to the huge pool of money thereby reducing the ratio. The Federalists argued that the public funding would not only benefit the American nation but also the states as the-y were also beneficiaries of the fund. The second aspect was the U.S relations with Great Britain and France who contributed hugely to the economy of United States (Sawyer, 1952). The taxation on imports and i nternal tax on some of the goods raised government revenue. It was therefore the responsibility of the national government to maintain ties with Great Britain and France who contributed largely to the economy of the United States and the Federalists were proponents of this platform. In

Teaching Strategies Article Example | Topics and Well Written Essays - 250 words

Teaching Strategies - Article Example The content knowledge in this strategy is the encouragement of peer to peer communication and interaction. This strategy enables learners to interact with students who speak English as the primary language s that they are enabled to clarify the essential concepts. The instructor uses various activities which helps the learners to go through he guided interaction successfully by grasping key language skills and concepts. This strategy helps learners to practice their pre-reading and also pre-writing skills so that they could have a meta-cognition of English language. This strategy helps the learners to express their thinking processes in verbal and written language. The assessment activities that teachers use in this strategy include think aloud and guides for complete chapter readings (Tissington and LaCour, 2010). Explicit instruction involves teaching the essential language concepts with an aim of building the background knowledge of the learners. At this stage, learners are given tasks which require cognitive skills of English reading. The teacher employs tools and activities which enable learners to classify, analyze, compare, interpret and synthesize the language concepts. This strategy aims at introducing learners to concepts which emanate from familiar themes, prompts and resources. The instructor aims at motivating the learners to link various ideas from their linguistic and social cultural backgrounds so that the interest of the student in learning English is determined. The motivation of the teacher will enable students to overcome the learning challenges (Tissington and LaCour,

Market Segmentation and Muslim Loyalty Assignment

Market Segmentation and Muslim Loyalty - Assignment Example The purpose of this literature review is to investigate published literature on general market segmentation theory, the impact of that segmentation practice upon loyalty and customer satisfaction within various constituencies, the application of those principles specifically to the Muslim community, as well as frame a research inquiry to test the theory of the segmentation approach to the Muslim market within a specific retail setting. Within any market, there are many different constituencies with commonalities in product need; and these varied customers can be divided or segmented into groups which may share a similar need for any particular product. As Claycamp and Massy point out, "markets and the customers who make up those markets are not homogeneous" (1968, p. 34), and any company utilizing a successful business model will need to group those customers according to their similarities so that products can be tailored to meet demand. As early as the middle of the 20th century, the idea of dividing a market into groups of customers who share a similar need or desire for a particular product, i.e., segmentation, was advanced (Smith, 1956, pp. 3-8). The principle of segmentation is relatively straightforward; by successfully targeting a specific consumer group with particular needs, the company can focus its product development and promotional strategies into meeting those needs and gain a competitive edge (Abel l, 1980, p. 8). While there are those who see an overemphasis on segmentation as "ironic" and "lead[ing]...in a direction that is opposite of what is really needed to build brand loyalty" (Anshuetz, 1997, p. 65), the vast majority of scholars would concur with Swenson that market segmentation experts are carefully regarded in the corporate world and that the "continued segmentation" of markets can certainly be expected to propel business forward "well into the twenty-first century" (1990, p. xiii). It should be noted that product differentiation is an important aspect of gaining market share and, because market segmentation should be used to increase the market share of a product within those segments as well, "product differentiation and market segmentation should be used together" (Greco, et al., 2003, p. 210). While these principles are true within domestic markets, they are particularly applicable to those companies engaged in international retail business. As Craft notes, prior to the mid-1970s, "market segmentation was viewed primarily as a domestic strategy" (2004, p. 40) and there was little scholarship with regard to international marketing theory. In 1972, however, Wind and Douglas recognized the nature as well as direction of global business and argued that segmentation was not just for domestic sales, but might be even more important in international markets due to the fact that they are more diverse (1972, pp. 17-25). As will be demonstrated in subsequent sections, the segmentation of the Muslim market by international companies, particularly those in the retail grocery industry, is critical. In Craft's study, it was noted that the organizations under

What are the special challenges and opportunities presented by working Essay

What are the special challenges and opportunities presented by working in the Third Sector - Essay Example The term third sector has currently been substituted in Government practice by the name ‘Civil Society’ or more frequently the phrase ‘Big Society’, which was invented by political consultants and which featured significantly during the traditionalist party's election campaign of year 2010. The existence of a large non-profit division is at times observed as a sign of a strong financial system within local as well as nationalized economic capacity. With an increasing amount of non-profit associations persistent on social services, the surroundings, teaching and other unmet requirements all over the society, the non-profit division is more and more essential to the wellbeing and security of society. The non-profit sector offers an outstanding channel for a range of society's labour and abilities (Peltenburg, p. 78, 2007). The third sector became the leading sector in society, as the well-informed class prevail over the effects of the private sector. This is true in a number of European nations. In accordance with a latest study, Netherlands has the biggest third sector of 20 nations across Europe. Social benefit structures are usually diverse in different nations. These systems take care of components of social defence, family unit strategy and individual dependability in a different way, and all over the Europe, a combination of these components can be found. Their individual characteristics still control nationalized social exchange of ideas, even though globalisation, altering financial conditions, progressive EU legislative and increased stress on resources appears to direct towards ‘convergence’ (Berridge, p. 62, 2010). Although in some European nations, civil society - even if the phrase itself is of current derivation - has been a venerable happening, other nations’ experien ce with them is fresh. Global commonality either has brought active establishments in Europe to start non-governmental organizations or help their counterparts in rising parliamentary governments do this, and their support is usually ongoing. There is no established description of the expression 'civil society establishment'; however, it is normally implicit to take account of the social associates, NGOs, mutual interest organizations and local establishments (Comaroff, p. 99, 2009). What all establishments have in common is their ‘not for profit’ nature, which does not indicate they cannot produce in excess, but does indicate they have to be reinvested in and utilized for the common use of the establishment. Many of them take advantage of unpaid assistants and definitely, volunteering could be their second most essential trait. In various nations, the global year of volunteers 2001 has evidently been an incentive to reorganize as well as develop volunteering directive. In all European nations, third sector organisations are present, although they vary in a substantial number of characteristics. In the United Kingdom only, they can be ‘shared interest’ establishments or philanthropic, from the subdivision or horizontal, intending at limited or broader target groups, nationalized or global, working entirely at local, provincial or nationalized level or all over them, distinct at regional level or linked, racially, conscientiously, ideologically, linguistically separated (Francois, p. 193, 2008). They can be ‘members’ umbrella establishments, associates of EU and worldwide bodies, working together with the commercial sector, providing services, moderately or completely subsidized by legislative authorities, have infrastructural sustenance establishments, be with or without

Credit Risk Essay Example | Topics and Well Written Essays - 3000 words

Credit Risk - Essay Example There has to be experience to scrutinize all the credit information and interpret the same. However good the analyses may have been, the bank will be in no position to distinguish a good borrower from a bad borrower, who has no intention of repaying the loan. Despite all the caution, bad loans do creep into the banks accounts. Thus, evaluation and pricing decisions should be followed up with periodic review of the account and the credit rating of the borrower. Any fall in the rating will increase the credit risk. Credit risks persist from the time the loan is granted throughout its life period and continuous review during this period will help in the early detection of the problem loans. The above information is for monitoring the credit risk exposure at a micro level. If a broader outlook of the credit risk exposure and its position is to be determined, then a macro level approach has to be adopted. This is made possible through the use of the Capital Adequacy Ration (CAR). The capital adequacy of a bank, which is the ratio of its capital to its risk weighted assets (RWAs), provides information about the extent to which the possible losses can be absorbed by the capital. Normally, the ultimate defense against credit risk that a bank possesses will be its equity capital or net worth. If from an earnings position, it turns out into an operating losses position, it would be the equity capital account that absorbs such losses, thereby giving management time to reach to the situation. Therefore, it can be said that the higher the CAR the better it is for the financial institution. The main aim of the credit policy of a bank will be to screen out the best proposals for acceptance. The Capital Adequacy rate provides a benchmark for monitoring the risk level considering the total assets of the company. Commercial banks provide capital market related services, depository services, advises on portfolio management or investment counseling, etc. Many banks have now started offering investment services to the retail customer, which is essentially advice and execution of mutual fund investments and redemptions. CAPITAL MARKET PRODUCTS Advice on debt and equity is restricted primarily to new issues, with secondary market investments being discouraged. There are no charges for this service; in fact, customers are paid incentives/commissions for investing through them. The bank essentially gets its income from the mutual fund/broker directly and also cross-sells other banking products. Arbitrage, stock lending are products, which are beyond traditional asset management but still many banks are offering them to retain their customers ((ICMR), Commercial Banking, 2003). Portfolio Management Services offered by banks can be differentiated into discretionary and non-discretionary services. Discretionary portfolio management allows the portfolio manager to take investment decisions on behalf of his/her clients within the broad parameters of asset allocation. Non-discretionary services of the type provided by banks essentially mean that the client has to authorize, every transaction done on his/her behalf. The non-discretionary services offered by a banker can be listed as follows: Advisory services - Flexible, unbiased

Medicare Approved Accreditation Agency Research Paper - 1

Medicare Approved Accreditation Agency - Research Paper Example When a healthcare organization has met the set standards of a government agency, it referred to as certification while on the other hand if the healthcare organization has met the set standards and processes of a non-governmental agency then it is referred as accreditation (Ellis & Hartley, 2004). Healthcare companies such as pharmacies, clinics and hospitals they are required to be approved by specific organizations for them to be eligible to receive third party payment. This paper examines the roles of one Medicare approved accreditation agency and further describes the regulations and standards of care that are associated with pharmacy practice. The centers for Medicare and Medicaid Services (CMS) is charged with the responsibility of ensuring that Medicare beneficiaries have access to medical equipment that are of high quality, right price and that they receive high quality service from the suppliers of medical equipment. In order to achieve the above mandate, CMS has the right to chose national accreditation organizations that in turn accredit healthcare organizations and agencies (Ellis & Hartley, 2004). The accreditation organization that is discussed in this paper is the Joint Commission on Accreditation of Healthcare Organizations (JCAHO). The center for Medicare and Medicaid Services (CMS) has also approved National Integrated Accreditation for Healthcare Organizations (NIAHO) as the new hospital accreditation option. NIAHO offer quality management system for healthcare organizations, medical staff and administrative officials and further ensures that healthcare organizations comply and achieve the standards. The accreditation standard for NIAHO is the ISO 9001:2000 and it provides options for healthcare organizations to adhere conform and comply with the Medicare conditions of participation (NIAHO, 2012). Joint Commission on Accreditation of Healthcare Organizations (JCAHO) offers accreditation to hospitals, nursing homes,

The American West Essay Example for Free

The American West Essay The American West was a main focal point of the elections and American society during the Jacksonian period. It was an idea that stirred emotions and the imagination of Americans around the country, and in the end it would represent a period in American history of transition into a new era of politics. This period would see more changes in the American way of life than any other period because the very geography of the nation was changing, which in turn changed the political aspects of American society, particularly in regards to the idea of a relatively equal North, free states versus South, slave states. As America expanded into the west, with fewer and fewer American territories accepting slavery at their birth, the country was divided even more and would begin the process of disunion in many ways. The Jacksonian society was really the first time in American history that the west was opened widely to expansion, and many Americans were desperate to leave the overpopulated, over-hunted, and overly expensive cities and towns of the East. People sought a better life in the west, where land was free for the taking as long as you were willing to work for it. The lore of the west added to the interest in settling the new frontiers, and Jacksonian society would have found the tales of outlaws and Indians, free land and the adventures of the Oregon Trail as fascinating, fueling their imagination. To Northerners who were stuck in large, over-populated areas where land was hard to buy the west represented their ability to live their dreams. To the South, the west represented America’s ability to create more states that were agrarian based like themselves, and the possibility of more slave states to help give them power in the American government. During the period of American history that spanned 1820 through 1857 the issue of slave versus free states became increasingly important. Western expansion created the political opportunity to either create more free states, which would mean that slave states felt they could not get equal say in government, or more slave states, which the majority of Northerners were against because they despised the institution of slavery. It was a battle of the industrialized North versus the agrarian, slave labor based South. The issue of slavery had become a hot topic in American government. For many years the country had been divided pretty equally in terms of free versus slave states, but with the western territories beginning to grow, expand and seek statehood, the concept of allowing states to enter the Union as a slave state or a free one became increasingly important. The North did not feel any of these states should be allowed to enter the Union as slave states, because the majority of Northerners favored abolition or, at the very least, the ability to not allow slavery within their direct borders. The South did not want the western states to be allowed to enter as free states because it would unfairly balance the scales in favor of abolition. Talk of secession emerged partly because of the westward expansion that was so important of a movement during the Jacksonian period. In the end, American society and, in particular, Jacksonian society saw many changes that would eventually lead to the secession of the South from the Union and the American Civil War. These changes began primarily because of Westward expansion, a phenomenon that stemmed from factors happening in the Industrialized North, the agrarian South, and the over-population and lack of affordable land in the East in general. Disunion would be the eventual outcome, but it very much can trace its beginnings to the migration into the American West.

Compare and contrast the theories

Compare and contrast the theories Part I 1. Compare and contrast the theories and basic treatment models of Albert Ellis and Aaron T. Beck. Include a discussion of the structure, theoretical/philosophical positions, therapist activity, demands on the client, and empirical support. Albert Elliss basic treatment model is rational emotive behavior therapy (REBT). The theoretical basis of Elliss model is that individuals routinely cope with life issues by reconstructing their beliefs, affect, and behaviors in adaptation to the problem (Ellis, 2000). While this psychological process seems like a positive way to adapt in regards to an issue, many individuals inevitably construct poor beliefs and behave in a repetitive and maladaptive manner. Meaning, that not only does the problem still exist in one way or another, but that the behavior, or more specifically the schematic agenda, created by this poor cognitive process only adds to a schema that is poorly built. In this regard, the future result of the next problem will be dealt with poorly all over again due to a lack of introspection of the past consequences or possibly simply due to a lack of individual skills. Additionally, REBT considers that most individuals bring about problems for themselves by creating personal imperatives (Ellis, 2000). These personal imperatives involve internal statements that include: I will perform well to gain others approval, my life should be trouble-free and enjoyable, and everyone should treat me well (Ellis, 2005). In this manner, when these expectations (demands) are not met, individuals create their own affective misery. In response to this, therapists using REBT are expected to use a more directive manner than when using a psychodynamic approach, for example. Clients are shown how to acknowledge and then dispute within themselves their irrational beliefs. In addition, therapists not only give the clients unconditional acceptance, but the therapist must gives themself Unconditional Self-Acceptance (aka USA) (Ellis, 2005). Becks Cognitive therapy rests on the principle of collaborative empiricism (Hollon Beck, 2000). Cognitive therapy theorizes that clients have automatic thoughts and that these thoughts are incorrect beliefs, therefore, they create maladaptive behaviors (Wenzel, Brown, Beck, 2009). A cognitive therapist would teach their clients how to think more like a scientist by showing them that their beliefs are not necessarily facts. Meaning, client would collect data from their issues, their behaviors, and their consequences, and pseudo-empirically test their possibly irrational beliefs. Within this process, the hope is that the automatic thoughts will be addressed and corrected. Though, Becks Cog ­nitive therapy is somewhat different than Elliss Rational Emotive-Behavior Ther ­apy (REBT). While they both have their basis in the processes of cognition and how those thoughts motivate behavior, one could argue that REBT uses the influence of logic reasoning to change the clients schema (Hollon Beck, 2000). Also, Becks Cog ­nitive therapy differs from REBT because there is an emphasis in the testing of beliefs in-vivo from an empirical point of view. In either type of cognitive-based therapy, there are a large degree of empirical data that supports how effective CBT is. In fact, there are studies that suggest CBT is more effective than medication for depression (McGinn, 2000). 2. The First Wave was behavior therapy. The Second Wave was Cognitive and cognitive-behavioral therapy. The Third Wave includes the works of Hayes and Linehan. Is the Third Wave a wave, a tsunami, or just a gentle lapping at the shore? How are these waves different? The first wave, Behavior therapy, is based upon the theories of classical conditioning and operant conditioning developed by B.F. Skinner and Ivan Pavlov. Behavior-based therapy considers the behaviors antecedent and reaction, then viewing how the consequence is processed to influence the occurrence and the repetition of the same behavior (Skinner, 1969). The second wave involves the addition of the cognitive model. This model is based on how interpretations or misinterpretations are created and how they eventually relate to the individuals affective experiences and the behavior that is manifested. (Wenzel, Brown, Beck, 2009). The combination of behavioral and cognitive aspects in this wave is the use of reinforcers that are directly related to personal experiences. Meaning, that the exposure of thoughts, reinforcers, and behaviors to the client will help in the realization of negative thought patterns in relation to their situation. Thus, in the true essence of CBT, they will be ab le to scrutinize themselves, the world, and the future. The hope is that the client will work, with the therapist, towards beneficial life changes. The third wave is its own wave. This wave of Cognitive therapy was developed as a consequence of the restructuring process of the second wave of Cognitive Therapy. As described by Linehan Dimeff (2001), Dialectic Behavioral Therapy (DBT) was created due to the failures of standard Cognitive and/or Behavioral therapy. It is suggested that too much emphasis was put on change the of individual which resulted in an invalidation of the client; an invalidation of the ability of the client to succeed when they have, in their perception, failed so much already. Therefore, a large conceptual part of DBT is skills training of emotion regulation, interpersonal effectiveness, mindfulness, and distress tolerance (Linehan Dimeff, 2001, p. 1). DBT purposefully takes into account not only the change that needs to occur cognitively, but also the in the moment affect of the client. Concurrently with DBT, Acceptance and Commitment Therapy (ACT) was created by Steven Hayes as a psychological intervention that also uses mindfulness but has a spotlight on personal acceptance (Hayes, 2009). Hayes coins a term called psychological flexibility, in where an individual is able to fully connect to themselves in spite of the changing situations and personal mood. With this flexibility in mind, the third wave CBT and the mindfulness concept differs from traditional second wave CBT due to highly dynamic approach that is expected from the therapist towards the client. Maybe too simply put, 2nd wave CBT focuses highly on »Ã‚ ¿ cognition while DBT focuses more on behavior and skills (or lack of). Therefore, the central aspect of the new third wave CBT is helping clients review and accept their thoughts in order to alter the maladaptive automatic reactions they have been using to cope. CBT is not just how your cognitions effect your behavior, but an attempt to understand the complex interconnection of schemas that produce reactions in all areas of functioning including: affect, physiology, and behavior (Claessens, 2010). 3. From your reading and research what would be the main points of agreement and difference between: 1) CBT, 2) psychodynamic therapy, and 3) family systems therapy. While psychodynamic therapy and family systems therapy agree that human development is largely determined by significant interpersonal relationships, and that this understanding is crucial to treatment, CBT places greater emphasis on the individual. The main focus of CBT is placed only on the person in therapy, their schemas, automatic thoughts, and cognitive distortions (Freeman Eig, n.d.). Conversely, psychodynamic theory revolves around feelings and behavior being determined by interactions with others. Transference plays a key role in understanding present patterns of behavior which originated in previous attachment-based relationships (Leichsenring, Hiller, Weissberg, Leibing, 2006). Psychodynamic psychotherapy aims to identify problematic relationships from the past and to provide the client with a safe, therapeutic relationship, as well as helping them build additional positive relationships. While family systems therapy also works within the context of attachment-based rela tionships, the focus is on the relational dynamics taking place in the moment. Family and couples therapists work with all affected people, together and separately, in order to address intrapersonal and interpersonal dysfunction (Liddle, 2010). CBT and psychodynamic therapy both address the clients core beliefs, though how these beliefs were formed is not necessarily crucial to CBT based treatment. Family systems puts the focus on developing positive interactions between family members. Meanwhile, relationships in family systems therapy are already established and occurring in the present (Liddle, 2010). Psychodynamic therapy focuses on harmful relationships of the past and understanding them, but not always focusing on building positive relationships in the future. While both the CBT and Psychodynamic approach attempt to diminish psychopathological symptoms and grief, a very central difference between CBT and psychodynamic therapy is that psychodynamic therapy attempts to determine at why you feel or behave the way you do. Specifically, psychodynamic therapy concentrates on trying to uncover the deep and often unconscious motivations for feelings and behavior whereas CBT does not necessarily consider this a priority you cant see whats ahead of you when youre looking over your shoulder (Freeman, 1993, 2011). In practice, CBT attempts to lessen the clients suffering as quickly as possible training their mind to replace maladaptive thought patterns, perceptions, and conduct with helpful ones in order to modify behavior and affect. Part II 1. How is structure used in CBT? What is the purpose of structuring the sessions? What techniques would be used to achieve the structure for the therapy and for the sessions? Structure in therapy can have several meanings. Structure could mean the format of the therapy as a whole, whether it would be very brief, short-term, or long-term. Structure could mean the environment of where therapy takes place, such as in a hospital or in a private office. However, the most relevant and crucial meaning of structure within CBT is the structure of the session. 45-50 minutes a week is not a great length of time, so the structure of CBT in practice should be designed to be as efficient as possible. Each session should be a meaningful exchange between therapist and client. The therapists and clients collaborative goals should always be center stage, but the set agenda needs to take precedence. As Freeman, Pretzer, Fleming, Simon (1990) notes, spending a few minutes each session is an asset to the therapeutic milieu and is possibly the most valuable technique in creating a environment of progression instead of digression. A typical structure of a session as described by Freeman, Pretzer, Fleming, Simon (1990) involves: agenda setting, a review of clients current status, consideration of events of the past week, requesting feedback regarding previous session, review any homework from the previous session, a focus on main agenda issues, develop any new homework, and once again looking for feedback regarding current session (p.17). Taking into consideration how the client and therapist envision the sessions while creating a agenda allows redirection of the client when the discussion goes off the expect path, but also reduces the likelihood that the client will feel pushed around or invalidated (Freeman, Pretzer, Fleming, Simon, 1990). Additionally, a client who is defensive, aggressive, or always in crisis may make the progression of the weekly session unstable when a joint program is not set (Persons, Davidson, Tompkins 2001). Therefore, the collaboration between client and therapist when setting the main agenda is essential. If this teamwork does not occur, in where the therapist decides completely the topic of the session, the client may not effectively grasp the meaningfulness of the session due to a lack of motivation because they do not feel involved. Additionally, a lack of review of the agenda with the client may also put the inexperienced therapist unsure of where to go next in the session (Persons, Davidson, Tompkins 2001). The termination of a session should not be an unexpected and sudden event for the client. A therapist must bring some sort of closure in relation to goals of the session while allowing sufficient time to address the ending of therapy and any issues the client still has. (Joyce, Piper, Ogrodniczuk, Klein (2007). Therefore, even with an opportunity for feedback about the previous session toward the beginning of a session, there should be a set time for feedback about the curren t session at the end of the therapy. In both instances, this time allows for a discussion of problems that may have occurred, such as errors in communication, misunderstandings, or general feedback from the client (Freeman, Pretzer, Fleming, Simon, 1990). 4. How is Narcissistic Personality Disorder defined, assessed, conceptualized, and treated? How does a therapist deal with this resistant patient? Narcissistic Personality Disorder is defined by cognitive processes that involve selective attention of the meaning of events and dichotomous thinking (Freeman, n.d.). This dysfunctional internal thought arrangement is due to the postulation that the individual considers themselves as special, or just better than others. However, from a psychodynamic perspective, the definition of the disorder changes a bit. Ledermann (1982), describes the disorder as something of an opposite of an individual who considers themselves as special or has a proclivity to engage in self-worship, it is the inability to love oneself and hence the inability to love another personThey are fixated on an early defense structure which springs into being in infancy-when, for whatever reasons, there is a catastrophically bad fit between the baby and the mother, frequently compounded by the lack of an adequate father and by other inimical experiences in childhood. Babies, thus deprived, grow into persons who lack t rust in other peopleThey experience their lives as futile and empty, and their feelings as being frozen or split off (p.303). This psychodynamic perspective is a bit extremist and obviously over-analyzed. To say that the narcissistic individual is unable to love is akin to calling an individual with low self esteem a sociopath. On second thought, it has been noted that a narcissistic individuals is very similar to a sociopath due to a lack of empathy for others and no desire to do what is right (Freeman, Pretzer, Fleming, Simon, 1990). Regardless, one could argue that the narcissistic individual really does suffer from low esteem. That maybe they are grasping at the straws of the world looking for someone to approve of them. The more likely reality is that on a day by day, second to second process, the narcissistic individual is looking for aspects of their lives and environment that feed or fit into their own schema of how great they are. This could also entail an ignoring of any evidence that goes contrary to their belief structure. Therefore, the treatment and the goal of therapy for the narcissistic individual is not to necessarily expose the cognitive flaws and the interpersonal manipulations that have occurred. Doing so would go against the foundation of the narcissistic individuals schematic structure and probably prematurely end therapy (Freeman, Pretzer, Fleming, Simon, 1990). First, a realization of the difficulty that lies ahead must occur for the client and the therapist. There must be a observed equalization of power between the therapeutic alliance because preventing a power struggle is generally the first step that must be taken. Freeman, Pretzer, Fleming, Simon, (1990) allude to the idea that homework assignments may not be the best approach with these individuals due to the likelihood of noncompliance because of the patients belief that they are special. Instead the therapist must present the therapy to the client as something of great value to them instead of a type of humiliation (Freeman, n.d .). A resistant patient such as this is not only opposing to feedback or questioning, they see it as a fundamental aggressive criticism that attacks their very existence. Due to their innate response to invalidate a therapists statement or view, a therapist must be dynamic and hold an absolute positive regard towards the individual and appear to appreciate deeply what is stated by the client.

Explication of Ogichidag by Jim Northrup Essay -- Explication Essays P

Ogichidag I was born in war, WW Two. Listened as the old men told stories of getting gassed in the trenches, WW One. Saw my uncles come back from Guadalcanal, North Africa and the battle of the Bulge. Memorized war stories my cousins told of Korea. Felt the fear in their voices. Finally it was my turn, my brothers too. Joined the marines in the time for the Cuban Missile Crisis Heard the crack of rifles in the rice paddies south of Da Nang. Watched my friends die there then tasted the bitterness of the only war America ever lost My son is now a warrior. Will I listen to his war stories or cry to his open grave. This is the poem that Jim Northrup wrote about war. I am going to Explicate the poem and examine the message that he is trying to express and th...

Faith and Reason in The Nineteenth Century Essay -- Essays Papers

Faith and Reason in The Nineteenth Century Throughout history, there have been many trends and patterns that have allowed humankind to learn from its mistakes. This reflection on the past is an important characteristic that distinguishes humans from all other life on earth. To make sure that humans do not fall into the same evil devices that our forefathers did, we must examine how our faith and reason has progressed through the past few centuries. Reason began to be the sole factor that effected the direction life was taking. This rationalism even crept into the sphere of religious influence. In Europe during the nineteenth century, human reason made strides toward modernism by shifting focus onto the individual, and by applying what we had learned as a whole, thinkers intellectual advancements were used for the betterment of industry and society. During this same period in time, the church's power was subordinated to that of the state for the first time. In Europe, and especially in the tumultuous nation of France, the church faced fierce attacks from the governments of the nations. In France, this was more apparent than anywhere else. When the new government of Robespierre and the council of public safety came to power, they put vast restrictions on the power held by the Roman Catholic Church in France. To begin with, the government took church owned lands to pay off large amounts of debt that existed prior to the revolution. This was not an overly popular decision with the church. To further control the church, the National Assembly issued the Civil Constitution of the Clergy. This document placed the church below the state in the overall hierarchy of power. To put the loyalties of the divided clergy to the tes... ... found in Aspects of Western Civilization, 180. 7 Child Labor as found in Aspects of Western Civilization, 130. 8 Child Labor as found in Aspects of Western Civilization, 130. 9 Marx, Karl and Fiedrich Engels. The Communist Manifestoà ® as found in Aspects of Western Civilization, 149. 10 Marx and Engels. The Communist Manifesto as found in Aspects of Western Civilization, 150. 11 Owen, Robert. Utopian Socialism as found in Aspects of Western Civilization, 148. 12 Mazzini, Guiseppe. The Duties of Man as found in Aspects of Western Civilization, 166. 13 Mazzini, Guiseppe. The Duties of Man as found in Aspects of Western Civilization, 166. 14 Mazzini, Guiseppe. The Duties of Man as found in Aspects of Western Civilization, 165. 15 Mazzini, Guiseppe. The Duties of Man as found in Aspects of Western Civilization, 165.

Free Catcher in the Rye Essays: The Fake Holden :: Catcher Rye Essays

Fake Holden in The Catcher in the Rye  Ã‚   In The Catcher in the Rye, a boy named Holden Caulfield is faced with the obstacles of both society and life as he struggles to find direction as well as his relationship with the world. From page one, the reader can both understand and relate to what Holden has to say about the society in which we live and the way in which people in that society govern themselves. The more we read the more we identify with Holden Caulfield. It seems like the typical, adolescent dilemma: How do I find my place in this life? Well, in most respects, Holden is not unlike the typical teenager. He, too, is on his own quest in order to find himself. He needs to find acceptance. Going to school at Pency, Holden becomes the manager for the fencing team. In doing so, he tried to gain friends as well as social status within his peers. Even then the whole team ostracized" (pg. 3) him. Like most teens at that age, Holden was having trouble gaining acceptance and making friends. It seems like the typical, adolescent dilemma: How do I find my place in this life? Well, in most respects, Holden is not unlike the typical teenager. He, too, is on his own quest in order to find himself. He needs to find acceptance. Going to school at Pency, Holden becomes the manager for the fencing team. In doing so, he tried to gain friends as well as social status within his peers. Even then the whole team ostracized" (pg. 3) him. Like most teens at that age, Holden was having trouble gaining acceptance and making friends. I'm the most terrific liar you ever saw in your life. It's awful. If I'm on my way to the store to buy a magazine, even, and somebody asks me where I'm going, I'm liable to say I'm going to the opera. It's terrible. (pg.16) Holden's ability to lie is one of the first traits that he reveals about himself. He takes pride in saying that he is a good liar. His inability to have normal conversations and relationships is possibly one of the factors that has him shunned by his peers. Holden's insecurity is one of the reasons for his compulsive lying. This, in turn, is why he can't find his place in the world.

How Society Shapes Your Decision for College

Peter Berger refers to the sociological perspective as seeing the general in the particular, meaning sociology helps one see the general patterns in particular people. Well we all know that society can affect our choices in life, whether it be the jeans you buy, the food you eat or the path you choose for your future, society always has a say in it even if it isn't welcomed. My choice to go to college wasn't much of a choice, as far back as I can remember my parents and teachers alike were constantly grooming me for exams and tests and everything I would need to get accepted into and succeed at whatever higher institution I chose. Not that this was a bad thing at all, I'm more than grateful for all of it considering without it I would not be where I am today. The point is, society embeds in your mind that the only way to be successful in todays business world is to go to college, get a degree, and then search for a desk to sit behind for the greater part of the remainder of your life. If that wasn't encouragement enough to keep my grades high and my sights set even higher, looking around at the other students at my school certainly did it for me. I told myself that I would not allow myself to slip and fall into the pattern that all the others around me had or soon would. I was bound and determined to get out of that school, out of my hometown, and away from any negative people or negative energy those people might be harboring. So the easy part was done, my choice had been made, but now the big question: What university do I choose? Being from a middle income family in Texas I knew I wasn't going to attend any Ivy League Institution, but I still wanted to go to an amazing University without bankrupting my parents of course. When I looked at my parents, along with other parents who were equally successful in their careers I noticed they had all gone to Big 12 schools. Again, keeping my parents bank accounts in mind I decided it would be the wisest decision to choose a Big 12 University that was still in Texas to avoid the $30,000 + fee for out of state tuition. Based on my major and who had accepted me so far I had it narrowed down to my top three universities; Texas A&M, University of Texas, and good ol' Texas Tech University. The deciding factor was that Texas Tech and the University of Texas were the only two schools with their own college of communication, but Texas Tech came out on top as the only University in Texas that offered advertising as its own major in its own college. It also didn't hurt that all the people I had grown to dislike from my hometown, if they were even graduating, were going on to UT or A&M, so the fact that Texas Tech was ten hours away from home was just the cherry on top.

Leadership And Management Skills Portfolio

Introduction This reflective work focuses on assessing my personal weaknesses in different areas. It starts by a self –assessment of my personal development needs.The next section looks at the difficulties I experienced on various issues. Finally, the action plans for self-development in the various areas are suggested. Portfolio Section 1Planning and personal management skills Using a paper exercise, I assessed my planning and personal management skills to determine areas of development. Concerning planning, I scored 13, which is a relatively low score. This indicates an area for development because my score was less than 24, which was the score I had to attain to show that I did not further development. I knew this was a weakness and a concern for me prior to starting my postgraduate studies while working full time. On the time management dimension, I scored 15 and this demonstrated a need for further development. I should have a score of above 24 to demonstrate that this area did not require further development. The issue of time management was a concern for me because of starting my postgraduate studies and working full time. I have had challenges in the past characterized by attempting to do too much at work and not managing my time effectively. The low scores on both planning and time manageme nt reveal that I have challenges with task prioritization. An action plan for self-development in these areas is presented later under task prioritization.Learning style Honey and Mumford designed a Learning Styles Questionnaire that is used in assessing the learning styles of individuals, and these are categorised into activists, theorists, pragmatists, and reflectors (Jarvis, 2005). When I completed this questionnaire, the results showed that I have a strong preference for the activist learning style and a moderate preference for the pragmatist learning style. As an activist, I enjoy novel experiences, I am active and depend on intuitive decision making and I have an aversion to structure (Jarvis, 2005). I learn best from learning activities that provide new problems and experiences, role playing and working together with others in group tasks and opportunities for dealing with challenging tasks. In addition, I prefer tasks with high visibility including presentations, leading discussions, and chairing meetings.However, I learn less when I have to listen to lectures, think, write or read on my own, or absorb and understand a lot of data. Furthermore, my learning is impaired when I have to follow precise instructions without any form of flexibility. As a pragmatist, I prefer risk-taking, group work and application and testing of concepts (Jarvis, 2005). I learn best when there is a clear association between the learning topic and actual issues in life. Learning activities should be structured around demonstrating techniques for accomplishing tasks with clear, realistic advantages. Furthermore, I prefer to be provided with opportunities for trying out and practicing techniques with feedback or coaching from a reliable expert. Similarly, I need examples or models that I can emulate, and I should be taught techniques that are presently applicable to my work context. I also prefer being offered with opportunities for immediately applying any new knowledge that I have learnt. As a pragmatist, l learn less when the learning activities are not associated with an immediate need, lack clear guidelines, and when there are obstacles to implementation of acquired knowledge. Such obstacles can be personal, managerial, organisational or poli tical in nature. These learning styles have an important influence on the learning activities undertaken in the action plan for developing different skills as demonstrated later. Assessment of how I work In a paper exercise, I assessed the way I work and the results revealed that I procrastinate when faced with tasks that I do not really like, I spend a lot of time attempting to perfect things, and I am unable to find things and notes whenever I require them. This is an indication that I have poor prioritization skills, and this will be addressed through an action plan on task prioritization that is explained later.Personality indexI assessed my personality index using an online exercise, and the results demonstrated that I possess various traits. First, I demonstrate low assertiveness as I do not need to be in constant control, and I have a higher orientation toward teamwork than tasks. Second, I am an extreme extrovert because I need to discuss issues in detail with other people. Third, I am extremely impatient as I find it challenging to concentrate on repetitive tasks, and I have a high sense of urgency. Finally, I am highly detailed because I want to acquire knowledge and become an expert. These traits of my personality affect how learning activities will be structured in the action plan to improve learning. Portfolio Section 2Group leadershipIn the first week of my course work, I was leader of my group. I did not know my fellow colleagues very well as we had just started on the course. Therefore, stepping up and being a leader of people I did not know was tough considering that I am not a manager or leader at work. I had to lead the group in the preparation of a group presentation on a case study of someone else’s leadership skills and present with them. I needed to take control and set the direction for the team more rapidly, and a lot of time was wasted as I did not know what was expected of me as a leader. For instance, a group or team leader is required to set the goal of the group and establish performance expectations (Morgeson, DeRue & Karam, 2010). This was a challenging undertaking as I decided to choose an informal approach to this activity where the group members actively facilitated the process of setting goals and determining how the members would be held responsible in relation to the performance expectations. This approach resulted in wastage of time because it was difficult for consensus to be achieved among the group members on the goals and performance expectations. Similarly, I had challenges in structuring and planning the group in terms of developing a shared understanding among the group members on the best approach for coordinating action and working together to achieve the established goals (Morgeson et al., 2010). I faced difficulties in determining how the activities would be performed, the individual’s responsible for specific tasks, and when the group activities would be done. On the issue of when the group activities would be performed, it was challenging to achieve consensus because the group members had conflicting schedules that interfered with choosing an appropriate time for the group meeting to determine the progress of the tasks. Although I faced various challenges during the initial process of forming group, I eventually embodied the role of the group leader. However, I did not always allow everyone to have input. It is suggested that soliciting and using continuing feedback from the group members is vital for achievin g the group objectives (Morgeson et al., 2010). By failing to allow the group members to offer their input into the group presentation, I ended up not including their diverse and useful perspectives on the group activity.Coaching sessionI acted as a coach on how to reactively write. There are specific skills required of coaches including social competence, emotional competence, listening, questioning, framing and contributing (Maltbia, Marsick & Ghosh, 2014). Social competence is associated with establishing relationships with individuals being coached by increasing a supportive and a safe environment that is characterized by freedom in expression thoughts, mutual respect, and trusted partnership (Goleman, 2006). However, I lacked in this competency as I did not allow the individuals I was coaching to freely express their opinions on reactive writing. Rather than encouraging engagement with my peers, I monopolized the coaching process. Emotional competence is associated with having self-awareness of one’s emotions and those of other people to ensure that the coaching relationship is experienced as productive, flexible, and open (Maltbia et al., 2014). I had a difficult time managing my own emotions when coaching others as I got angry whenever any person I was coaching did not understand what I was communicating to him or her. Furthermore, I did not recognize the effects of my actions on the emotions of the people I was coaching. For instance, some of the people I was coaching were visibly frustrated during the coaching process but I did not take time to address these issues. Listening involves understanding the meaning of what the person under coaching is saying with regard to achieving desired outcomes (Maltbia et al., 2014). When I started the coaching session, I did not ask the person I was coaching the specific outcomes they desired from this activity. It is suggested that a hierarchy should not exist in the relationship between the coach and the p eople being coached (O’Broin & Palmer, 2009). By failing to include the objectives of the people being coached into this relationship, their agenda failed to take precedence in the coaching process. As a coaching skill, questioning entails inquiry for revealing the information necessary with the highest benefit to the client (Maltbia et al., 2014). I was lacking in this competence as I rarely asked the person I was coaching questions related to the coaching process. I took on the role of an active coach and required the people I was coaching to assume a passive role in this process.Framing is characterized by expanding the world views of the people being coached through an examination of whether learning is rooted in experience (Maltbia et al., 2014). This skill requires the coach to establish whether the coaching process has had a positive effect on learning in terms of addressing the initial challenge or problem that influenced this activity to be undertaken. During the coaching sessions, I did not frame the coaching process to establish if the people I was coaching had benefited from this activity. Finally, contributing entails effective communication during the coaching sess ion as a mechanism for achieving balance between the support and challenge required for facilitating growth and learning (Maltbia et al., 2014). As initially mentioned, I monopolized conversations, and this prevented the people I was coaching from effectively contributing to the coaching process. Moreover, I failed to offer adequate challenges to promote learning in relation to reactive writing.Role playing as a manager in an appraisalPerformance appraisal is an important process as it is utilised in assessing recent performance and addressing future opportunities and objectives (Chartered Institute of Personnel and Development, 2014).). When conducting a performance appraisal, employees have to be provided with sufficient notice of the expected performance standards and timely and regular feedback about their performance (Heslin & VandeWalle, 2011). During my role play as a manager in an appraisal, I did not offer timely and regular feedback on individual performance toward the ach ievement of expected performance standards. It is also suggested that employees should have an input in the appraisal process and be provided with opportunities for challenging it if they view it as being unfair (Heslin & VandeWalle, 2011). Conversely, during the appraisal, I did not allow the individuals with opportunities for presenting their views and opinions in relation to assessment of their performance. In this regard, I failed to consider the voice of these individuals that would have provided a deeper understanding of the performance achieved.Acting as a consultantI took up the role of as a consultant in a team of two individuals to pitch to a client our ideas for their people strategy of their new business. According to the Institute of Management Consultants (2014), consultants need competencies to deliver consulting services. Some of these competencies are balanced judgment, awareness of the organisational context and external environment, and listening (de Caluwe & Re itsma, 2010). Balanced judgment entails a comparison of potential courses of action and evaluating available information and using relevant criteria, which leads to realistic decisions (de Caluwe & Reitsma, 2010). In the role of consultants, my colleague and I only focused on a single course of action for the organisation in relation to the people strategy for the new business. Consequently, when the clients asked us any alternative courses of actions that might be undertaken, we were unable to provide satisfactory responses because we were unprepared. Furthermore, external environment awareness is related to being adequately informed about issues in the business environment that have influences on strategies and utilising such knowledge for the benefit of the organisation (de Caluwe & Reitsma, 2010). In our case, we considered legal, economic and technological factors that affect an organisation’s people strategy. However, we failed to consider trends influencing human reso urces in the organisation and political issues. Thus, the clients were dissatisfied as the people strategy we developed did not take into consideration all the factors in the business environment that have impacts on the organisation’s human resources management strategy. Listening skills are important in management consultancy as they provide the client with the space for expressing their opinions, focusing on their reactions, responding suitably and posing further questions (de Caluwe & Reitsma, 2010). Regarding this, my colleague and I did not focus on the clients’ reactions. We were focused on pitching our strategy and thus we were unable to capture nonverbal signals that would have communicated to us whether the clients were in agreement with the arguments we had made in the people strategy that the organisation had to adopt. Regarding organisational context, management consultants are expected to understand how an organisation operates and considering these issues when developing an action (de Caluwe & Reitsma, 2010). We strived to develop a people strategy that reflected the organisation’s current practices related to management of human resources. However, the information related to this issue was not easily available. Therefore, we ended up pitching a people strategy that we considered as non-existing in the organisation. We later discovered that some aspects of the people strategy were already present in the organisation, which means that we had not provided a more effective solution to the clients.Task prioritisation I had two finance classes but missed the first one but then I attended the second class. It was only after attending the second class that I realised that I should have attended the first one. The content covered in the second class was only a continuation of the issues addressed in the first class. Therefore, by failing to attend the first class, I missed out on the necessary context for understanding the topics covered in the second class. This negatively interfered with my learning. Upon reflection, I learned that I did not attend the first class because I did not prioritise the things that I had to do. I have to deal with conflicting demands of working full time and pursuing my postgradu ate education (Armstrong, 2012). In this regard, I missed the first finance class because I was attending a meeting at work where I was presenting an important report to senior management.Negotiating as a ClientMy colleague and I assumed the role of a client negotiating with a software vendor on delivery times and price. As clients, we argued and debated with the software vendor on the relevant issues. For instance, there was prolonged argument and debate on the delivery times because we were considering small insignificant factors on this issue. The outcome was that the arguments related to the main issue of delivery times were largely neglected. Indeed, it is suggested that it is important to have awareness of any insignificant arguments that might derail the negotiation process (Pinet & Sander, 2013). In our case, we concentrated on being right rather than winning the arguments associated with the price and delivery times. The negotiation process deviated from the agenda establi shed prior to the meeting with the software vendor. Consequently, a lot of time was wasted on these arguments and compromises were achieved after a protracted process.Portfolio Section 3This section presents an action plan for developing my postgraduate, management and leadership skills further. The action plan covers skills required for group leadership, management consultant, appraisal manager, coaching, negotiation, and task prioritization as presented below.Action plan for group leadership skillsObjective To improve my skills in leading and managing groups in completion, of course, related tasks Tasks Read and brainstorm with my peers on available literature including books, reputable online articles and journal articles about team leadership. I will focus on literature that looks at leadership functions on the different phases of teams namely the transition and action stages. The transition stage is a time when a group or team focuses on activities associated with the team’s structures, planning tasks, and assessing the performance of the team in terms of the whether the team has the ability of achieving its objectives (Marks, Mathieu & Zaccaro, 2001). The specific leadership skills that I will learn about for this phase include defining the mission of the team, goals, and performance standards, structuring responsibilities and roles in the team, and promoting feedback processes (Morgeson et al., 2010). The action stage is where the team or group members are focused on tasks that directly contribute to goal achievement (Marks et al., 2001). In this phase, I will learn rele vant leadership skills including creating a positive climate in the group, encouraging autonomous actions by members, resource acquisition for the group, problem solving, involvement in the group’s work, and monitoring the group(Morgeson et al., 2010). Discuss with managers and leaders in my workplace about effective approaches for leading and managing groups or teams Evaluation After acquisition of the necessary leadership skills, I will apply to future group assignments in my course work. I will evaluate the acquired group leadership skills by asking my peers to rate my performance as a leader. I will design a checklist where the group members will provide their responses about my overall leadership skills and areas that require improvement. Review date The reading of literature, applying the relevant knowledge to actual practice, and evaluating leadership skills will be reviewed on a regular basis whenever there is a group assignment.Action plan for coaching skillsObjective To become a very effective coach Tasks Read books, journal articles, and online publications on the coaching process and the required skills and competencies for this activity followed by a brainstorming exercise with my colleagues. Participate in training in coaching provided by my organisations to equip with necessary skills. Ask a senior manager in my workplace to act as my coach to enable me to understand this process from a practical perspective and model it. Evaluation The knowledge acquired from literature, training, and on-the-practice will be utilised in coaching my peers in coursework on different topics. The performance data that will be collected to establish the level of my effectiveness as a coach will be obtained from interviewing the individual that I will be coaching. Review date Ongoing throughout my course work.Action plan for management consultant skillsObjective To enhance my skills as a management consultant Tasks Read available literature on management consultancy and look at case studies on the process of management consultation. After reading alone, I will brainstorm these issues with my study group. Discuss with management consultants within and outside my organisation to learn the criteria for success. Evaluation Evaluation will be based on establishing the extent to which the client is able to achieve desired outcomes in relation to the consultation services I will offer them. This will be achieved by using a questionnaire to ask the clients whether I demonstrate the skills of a management consultant. Review date Ongoing based on management consultancy projects.Action plan for managerial skills in appraisalsObjective To improve my skills in conducting performance appraisals Tasks Read widely and brainstorm on skills for performance appraisals. Role playing with my peers on posing the right questions to the individual under appraisal. Discuss with senior managers in my workplace about successfully performing performance appraisals. Evaluation The assessment of my skills in this area will be based on determining to which I successfully complete a performance appraisal. This will involve asking individuals involved in the appraisal process to rate my performance using a checklist. Review date This activity will be completed on a monthly basis.Action plan for negotiation skillsObjective To improve my negotiation skills as a client Tasks Reading widely and brainstorming with colleagues on negotiation skills for clients to understand negotiation skills, negotiation phases, and sources of conflict in negotiation process. Engage in role play to assist in clarification of responsibilities and roles in working in a negotiating team. Evaluation Evaluation will involve collecting evidence indicating whether I applied competencies and skills required in negotiating as a client. This will be achieved by interviewing the other parties to the negotiation process to determine the level of my skills in negotiating as a client. Review date This will be completed by February 2015.Action plan for task prioritizationObjective To enhance my skills in prioritizing both work and education tasks. Tasks Listing all the tasks that I have to perform on a daily basis in my work and college and categorising them based on their impacts on my work and educational pursuits. Using a personal calendar to plan my tasks. Using a checklist to determine completion of tasks on daily basis. Evaluation Performance in task prioritisation will be evaluated by assessing the extent to which I complete all the tasks required in my workplace and at college. Review date This activity will be completed on a daily basis. Conclusion This reflective work has identified areas that require further development in improving my managerial and leadership skills. Based on this reflective work, it is evident that I lack skills in different areas including leadership, task prioritization, effective coaching, managerial skills in performance appraisal and management consultancy. Therefore, these skills have to be improved to ensure that I am effective as manager and leader. Therefore, action plans for improving the different skills have been presented. It is expected that implementation of the action plans will equip with skills that are applicable to my workplace and educational setting. References Armstrong, M. (2012) Armstrong’s handbook of management and leadership: developing effective people skills for better leadership and management. PA: Kogan Page. Chartered Institute of Personnel and Development (2014). Performance appraisal. [Online]Available from: http://www.cipd.co.uk/hr-resources/factsheets/performance-appraisal.aspx (Accessed: 15 Dec. 14). De Caluwe, L., & Reitsma, E. (2010) `Competencies of management consultants: a research study of senior management consultants’, In Buono, A., & Jamieson, D (Eds), Consultation for organisational change, pp. 15-40. NC: Information age publishing. Goleman, D. (2006) Social Intelligence: the new science of human relationship. NY: Banam books. Heslin, P., & Vandewalle, D. (2011) `Performance appraisal procedural justice: the role of a manager’s implicit person theory’. Journal of Management, vol.37, no.6, pp.1694-1718. Institute of Management Consultants (2014) The management consultancy competency framework. [Online] Available from: http://www.imcusa.org/?page=CONSULTINGCOMPETENCY (Accessed: 15 Dec. 14). Jarvis, M. (2005) The psychology of effective learning and teaching. UK: Nelson Thornes Ltd. Maltbia, T., Marsick, V., & Ghosh, R. (2014) `Executive and organisational coaching: a review of insights drawn from literature for inform HRD practices’. Advances in Developing Human Resources, vol.16, no.2, pp.161-83. Marks, C., Mathieu, J., & Zaccaro, S. (2001) `A temporally based framework and taxonomy of team processes’, Academy of Management Review, vol.26, pp. 356-76. Morgeson, F., DeRue, S., & Karam, E. (2010) `Leadership in teams: a functional approach to understanding leadership structures and processes’. Journal of Management, vol.36, no.1, pp.5-39. O’Broin, A., & Palmer, S. (2009) `Co-creating an optimal coaching alliance: a cognitive behavioural coaching perspective’. International Coaching Psychology Review, vol.4, no.2, pp.184-94. Pinet, A., & Sander, P. (2013) The only negotiation book you’ll ever need. Littlefield Street, MA: Adams Media.