Benefits Of Organ Donation For Organs - 1670 Words

Millions of women, children, and men throughout each region of the world die each year due to organ complications; however, donating organs has become widely popular in the medical field to help save hospitalized people. Organ donation is a process in which a healthy individual gives up a working organ to an ailing person in need. A person in decent health can be qualified to donate a kidney, liver, or various other organs. In some cases organ donors are deceased but the donors already planned to donate their organs. Both the person searching for an organ and the donor have to go through a considerable amount of tests to find a match which can take several years. Medical practitioners and civilians worldwide argue whether donors should†¦show more content†¦Hundreds of lives are saved each year from generous organ donations. The gift of a donated organ is not only an organ but is also the gift of a new life for the patient. Though some patients are not lucky enough to experie nce this new life because of the long search for a compatible organ. The shortage of organs is an effect of people not wanting to donate organs because the donor receives nothing in return except a good feeling. For the last several centuries, doctors have been relying on humanities favorable morals to donate organs, but humanity has changed and people do not wish to perform acts of heroism without an award. Sally Satel received a kidney in 2006 and states,† Yet, it is lethally obvious that altruism is not a valid basis for transplant policy. If we keep thinking of organs solely as gifts, there will never be enough of them† (226). In order to increase the number of organs available, a new system needs to be put in place to increase organ donations. The medical field can no longer rely on humanities selflessness to persuade people to donate healthy, working organs. The solution to this problem is to establish a market for organs; the supply of organs people hope for can only be reached by offering benefits to the donor. Kidneys and other organs would become more abundant and the waiting period would decrease for the patient. In the event of organ donors being financiallyShow MoreRelatedThe Benefits Of Organ Donation1300 Words   |  6 PagesThe first successful organ transplant occurred in 1954, when a kidney was donated by a patient’s twin brother. Since then, substantial progress has been made to allow thousands of patients to receive donated organs, but twice as many patients have died waiting for an organ to become available. There is a significant shortage of organs directly caused by the National Organ Transplant Act of 1984, which prohibits financial compensation for donating organs. Because of this act, â€Å"only 15-25 percent ofRead MoreOrgan Donation1090 Words   |  5 PagesTopic: Why organ donation should be mandatory Audience: College Students General Purpose: To persuade Specific Purpose: To persuade people to want to become an organ donor and the benefits of being one Proposition: You should become an organ donor Organizational Pattern: Statement of logical reasoning Introduction: Attention Getter: Organ donation is an amazing thing, saving many lives every year. Roughly 152,000 people die every day and 55 Million die each year yet, there is 116,000 peopleRead MoreOrgan Donation Should Be Mandatory1630 Words   |  7 Pagessubject of organ donation becomes increasingly important. For years, the topic has been the source of many controversial debates regarding its ethical and moral ideations. Organ donation should remain voluntary for several reasons: first and foremost it is still considered a donation. Next, patients and their families should have the right to say no to medical procedures. And, lastly, bodily autonomy should be respected by healthcare professionals. Many argue, however, that organ donation should beRead More Organ Donation Essay740 Words   |  3 PagesOrgan Donation Organ donation is a topic which contains many conflicting views. To some of the public population organ donation is a genuine way of saving the life of another, to some it is mistrusted and to others it is not fully understood. There are some techniques that can be used to increase donation. Of these techniques the most crucial would be being educated. If the life threatening and the critical shortage of organs was fully understood by the public, organ donation wouldRead MorePersuasive Speech : Organ Donor1480 Words   |  6 Pagesaudience of the importance of becoming an organ donor to save lives. Thesis: Becoming an organ donor can give severely ill people another chance at living a normal life. I. Introduction A. Attention Getter: Imagine having a loved one who is in end stage organ failure and has been put on the organ transplant waiting list, in hopes getting the chance to live. B. Reason to Listen: With the long list of people waiting to receive an organ transplant, it is important thatRead MoreOrgan Donation And Its Effects On The Donor Essay1694 Words   |  7 PagesAlongside the benefit of only having one patient to care for after transplantation, post mortal donation also takes away any chance of effects on the donor. Since the donor is deceased, there is no worry of the effects because of two reasons: they are no longer living and they have no use for their viable organs anymore. With the several pros and cons of postmortal donation, comes the different aspects of inter vivos donation. When organs are taken from living donors and are transplanted thereRead MoreAn Analysis Of Organ Donation Essay1509 Words   |  7 PagesAn Analysis of Organ Donation Flashback to when you were sixteen years old. Young, naive, and about to be ruling the streets with your very own Driver’s License. You passed your written and physical driving exams, but before you are able to get your â€Å"right of passage†, you must indicate whether or not you are willing to donate your organs in the case of your death. But how does one know which box to check? It is your responsibility to educate yourself in the matter because ignorance is not alwaysRead MoreOrgan Donation Of The United States937 Words   |  4 Pagesan organ transplant. There are waiting lists for adults and children needing an organ. It may be difficult for some people to decide what would be right, if donation is the correct answer. Some people are not well informed on organ donations. Family members might not want for their loved ones to donate their organs. Why should we donate? If we are born with our own body parts why would we want to destitute them? These questions are a matter of debate, some people want to donate their organs to helpRead MoreArgumentative Essay On Organ Donation716 Words   |  3 PagesWe have an organ donor enigma in the U.S., as more than record number of Americans support organ donation, but half are registered to donate. This year, thousands of Americans will die needlessly for a need of an organ. As the demand for organs is increasing, it is essential to implement policies and strategies to improve organ supply. In the field of organ transplantation, the role of altruism is significant to the welfare of the society. Organ donation is founded on the principles of altruismRead MoreOrgan Donation : Persuasive Speech909 Words   |  4 PagesOrgan Donation Rhetorical Analysis Organ donation has been a major controversy for many years now. There are those people who favor it and the ones who do not. According to the United States Organ and Tissue Transplantation Association, organ donation is defined as tissue or organ removal from a deceased or living donor, for transplantation purposes. Tissues and organs are moved in a surgical procedure. Afterwards, they are transplanted to a recipient to ensure their recovery (Francis 2015). Organ

Disney s Current Published Mission Statement Essay

Disney s Current Published Mission Statement Walt Disney s does not have a distributed vision articulation. On the other hand, their current Statement of purpose can be found on their site (The Walt Disney Company, n.d.). The current statement of purpose peruses as takes after: The mission of The Walt Disney Company is to be one of the world s driving makers and suppliers of diversion and data. Utilizing our arrangement of brands to separate our substance, administrations and customer items, we try to build up the most imaginative, creative and productive diversion encounters and related items on the planet. The statement of purpose is liable to feedback and appears to be just about as though it is obsolete. For illustration, Walt Disney is effectively one of the world s driving makers of the merchandise and administrations it markets. Accordingly, there is no heading or reason inalienable in this announcement other than the upkeep of its present position. Besides, Disney s Media Networks accounts for the biggest income generator (43%) among distinctive SBUs. On the other hand, it just about appears as in the event that the part of data supplier is fairly made light of by the restating of their devotion to stimulation in the second piece of the statement of purpose. With these reactions at the top of the priority list, an upgraded rendition of the statement of purpose will be proposed. The proposed statement of purpose for the organization is somewhat lengthier yetShow MoreRelatedDisneys Brands Success1371 Words   |  6 PagesThe Walt Disney Company has been successfully creating and c apturing value for their customers for over nine decades. With a net worth of 74.9 billion dollars, Disney has claimed the title as of one of the most profitable companies in the world. 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Specific marketing tools designed to build and enhance customer relationships include club marketing programs and frequency programs. Answer True 4.Product, price, place and promotion make up the elements of a firm s marketing mix. Answer True 5. When sellers focus on existing needs and lose sight of underlying customer wants, they suffer from marketing myopia. Answer False 6. The elements of the extended marketing mix are price, place, promotion and productRead MoreDiversity at Disney5774 Words   |  24 Pages1 Disney Disney 2 For more than nine decades, the name Walt Disney has been preeminent in the field of family entertainment. From humble beginnings as a cartoon studio in the 1920s to today s global corporation, Disney continues to proudly provide quality entertainment for every member of the family, across America and around the world. 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Management Accounting Operational Budgets

Question: 1. Discuss the importance of management accounting for your selected organisation and differentiate between management accounting and financial accounting. 2. Evaluate different classifications of costs (types, behaviour, function and relevance) with examples. 3. Explain the meaning of variance analysis and discuss the most commonly derived variances, outlining the problems and limitations. 4. Identify different operational budgets and explain the advantages of preparing different operational budgets. Answer: Introduction Management Accounting is all about giving the right information to the right person at the right time thereby helping the managers in an organisation to make informed business decisions. This better equips the decision makers in their day to day management and control of the functions. The purpose of this report is to throw light on how Management Accounting can help M/s ABC Inc., operating in the manufacturing sector, to improve its operating efficiency by controlling costs and improving profitability. Section I discusses the concept of Management Accounting, its importance and also distinguishes it with Financial Accounting. Section II evaluates the various types of costs, their behaviour, functions relevance. Section III explains the meaning of variance analysis, its relevance limitations. Section IV identifies different operational budgets and the advantages of preparing them. Section I: Management Accounting Importance Relevance Management Accounting can be described as a system of partnering in management decision making by relying on the financial accounting data and presenting it in a manner and format relevant to the requirement of the decision maker. Depending on the need, management accounting reports are generated on a periodic basis viz. weekly/ fortnightly/ monthly etc. For eg. a weekly fund status report can help the treasury function to devise the cash generation plan for the following week. A fortnightly inventory ageing report to the stores manager can help in the procurement planning for the next fortnight. Following are the advantages: Better use of financial data Data shared in a mutually acceptable format gets more acceptance within the organisation Facilitates informed decisions Improves the confidence level of the decision makers There will be more group consensus for every decision taken Management Accounting vs Financial Accounting Difference between both the methods is illustrated in a tabular form below Sl. No. Particulars Management Accounting Financial Accounting 1. User People inside the organization eg. Managers, Employees People outside the organization such as shareholders, Government etc. 2. Purpose Helps in decision making Discloses the end result of the business 3. Is it Optional? Yes No 4. Format No prescribed format There are specific formats for presenting data 5. Periodicity As per need End of every accounting period 6. Reports Detailed reports customised according to need As prescribed by standards such as GAAP or IFRS 7. Rules No legal requirement or rule As prescribed by standards such as GAAP or IFRS 8. Priority focus Current issues and future forecast Past data upto the reporting date 9. Departmental focus Focuses on each department or individual Pertains to the entire organization 10. Flexibility Reporting is flexible according to changing need Reporting requirement is rigid Section II: Costs Types of costs Costs are classified into various categories based on Behaviour Function Relevance Each of these are elaborated below Classification by Behaviour Fixed Cost - Fixed cost is that cost that does not vary with level of production output. This is independent of any business activity or volume of production. Example, Rent, Depreciation Variable Cost - Variable cost is that cost that varies with the level of production output. Example Direct Material, Direct Labor Mixed Cost - Costs which have both fixed and variable components. For example Electricity charges wherein the minimum demand remains fixed based on the connected load and any power drawn beyond a certain limit will vary in proportion to the level of output. All the three above costs can be graphically represented as follows Classification by Function Product cost Product Costs are all those costs incurred towards manufacturing a particular product. Product cost is further classified into the following: Direct Materials All the costs incurred to bring the raw materials into the manufacturing location Direct Labour The cost of labour time spent in manufacturing Manufacturing Overheads All the costs incurred for production of the final product excluding the direct material labour. Period Cost Period cost are all the costs other that the Product cost. Example marketing costs, administrative costs etc. It is the cost of running the business. As these are not necessarily part of manufacturing cost, these cannot be assigned to the products. The above costs can be diagramatically explained as follows Classification by Relevance Sunk Cost Sunk cost is also called as historic cost. This is the cost which has already been incurred and cannot be recovered. This cost is not relevant for decision making. Example fund invested on a project. In practical scenario, an organisation cannot go and restart production of a product which is not profitable only for the sake of justifying the sunk cost incurred in purchasing the equipment which has now become obsolete. Opportunity Cost Opportunity Cost is the cost of the foregone alternative. This helps in really evaluating the various investment opportunities and thereby helps in effective decision making. Though the cost is not incurred in this case, by not selecting an option, the benefit that the company has forgone becomes the opportunity cost. Example, a company has certain spare space in the factory where it can either put up a new manufacturing facility or it can rent it out to outsiders. If it decides to put up a manufacturing facility, then it has to forgo the rent that it would have earned had the space been rented. The foregone rent is the opportunity cost Differential Cost Differential cost refers to the difference between the two available alternatives courses of action. It is the total of all the incremental costs that would be incurred if one alternative is chosen against the other. Differential cost helps in choosing better alternative over the others. In the above example, if a particular fixed cost, say depreciation has to be incurred irrespective of the option selected, then it is not a differential cost. However, consequent to setting up the new manufacturing facility, if the company has to incur Selling Administrative cost or Marketing costs, then such costs are classified as Differential costs. Section III: Variance Analysis Meaning Variance Analysis is the systematic quantitative assessment of the deviations arising in actual performance from the planned performance. This is a very effective controlling tool in any business. Variance Analysis gives clear insights with respect to the deviation of actual performance from plan with specific reasons which led to the deviation. This helps in identifying the root causes, and taking corrective action thereby preventing it from repeating. Types of Variances The main types of variances are explained in the diagram below These broad variances and the further subdivisions are explained below. Sales Variance Sales variance measures change in profit due to a variance in sales. The Sales Volume can be on account of Sales Volume variance Sales Price variance. Sales Volume variance = (Actual Unit Sold Budgeted Units Sold) x Standard Profit Favourable Sales Volume indicates a higher actual profit than the budgeted profit due to more than expected demand for the product in the market Sales Price variance = (Actual price Standard price) x Actual Units sold. A favourable Sales price variance indicates the product has been able to fetch a better price in the market against competition. Material Variance This is the difference between the actual material cost versus the standard material cost. This can be a result of a Material Price variance or a Material Usage variance. Material Price Variance = (Actual Price Standard Price) x Actual Quantity A favourable material price variance indicates a better negotiation done on the material price. It may also indicate an overall fall in material prices due to the effect of market forces. Material Usage Variance = (Actual quantity Standard Quantity) x Standard price. This can be further divided into Material Mix variance Material Yield variance. Material mix variance occurs when there are different type of materials required in the entire production process. In such circumstances, if the costlier material is used less in comparison to the cheaper material due to a change in mix, then it can result in a favourable material mix variance. A positive Material yield variance can be due to lesser usage of material vis a vis the standard design. This may be due to better and efficient usage of machines or due to economies of large scale operation. Labour Variance This is the difference between the Actual Labour cost versus the Standard Labour cost. This can be a result of a Labour Rate variance or a Labour Efficiency variance. Labour Rate Variance = (Actual Rate Standard Rate) x Actual Hours A favourable Labour rate variance indicates an overall fall in the labour rates in the market Labour Efficiency Variance = (Actual hours Standard hours) x Standard Rate A favourable labour efficiency variance indicates an overall improvement in efficiency of the labour employed. This may be due to better supervision and better working environment. Overhead variance This is the measure of variance between the standard overhead expenses versus the actual overhead expense. This may be a result of a wrong estimation of standard overhead or due to real efforts put in by the management team and incurred lesser overheads through operational efficiency and cost saving initiatives. Problems Limitations Though variance analysis is a good tool to identify inefficiencies in the system, the method has certain inherent limitations which are as follows Not practical in non-standard production process/batches Not applicable in industries where there are more overheads than production expenses. Eg. Service sector Analysis can be misleading if standards are not set properly If analysis is not done on a regular basis and learning not applied immediately, the system will not serve its purpose Employees/managers will be more tempted to incorporate budget slack thereby making the whole process ineffective. Possibility of buying substandard quality material resulting in excess consumption/wastage. Section IV: Operational Budget Operational budget is projection of the financial plan of a business for a specified period of time. Operational budget requires planning of all the phases of operations. Types of Operational Budget The most common types of operational budgets are explained below Revenue (Sales) Budget This is a budget of the future sales. It identifies the revenues require by the organisation for the budget period. This involves a detailed market study and potential for penetration and expansion in order to maximise the sales for the period. Production Budget Any manufacturing organisation needs to estimate the volume and timing of production. There needs to be fine balance between excess stock and stock outs as both these extremes will adversely affect the performance. Purchase Budget There needs to be a clear plan with regard to the timing and frequency of purchase of raw materials. Here again a proper balance is required to be maintained in order to avoid extreme situations such as stock out and excessive inventory. Direct Labour Budget The strategy of employing the right quality of labour should be in line with the labour hours required to fulfil the production budget keeping in mind the labour rates and availability. Expense Budget This budget defines the operating expenses required to be incurred during the budget period. The expenses are evaluated broadly based on three criteria namely Fixed, Variable Discretionary Profit Budget Here both the revenue expense budgets are combined to arrive at gross and net profits. In this process the adequacy of revenue vis a vis the expense in evaluated. This helps in allocating managers with their share of organisations performance. Importance of Operational Budget Helps in identifying controllable and discretionary expenses by regular tracking and monitoring A regular review of the actual versus budget helps in projecting future expenses with reasonable level of accuracy. Helps organisations to face the uncertainties and also recover from the unexpected setbacks Operational budgets which get constantly monitored ensure accountability from the managers due to their ongoing involvement. Section V: Recommendation The key success factors for ABC Ltd. are Improving operating efficiency, Controlling costs and Improving Profitability. Management accounting through its process of timely reporting, periodic variance analysis and budgeting perfectly complements towards achieving all three of these factors and beyond. The data is also mostly derived and can be cross checked with the Financial Accounting data. It is hence recommended that a robust Management Accounting system be implemented in ABC Ltd. Section VI: Conclusion ABC Inc., which is in the manufacturing sector has various complexities in the process. Product Quality, On time delivery, Operational efficiency, Timely cash collection, Working capital management, adequacy of raw material, Lean inventory level and focus on Profits are of top most priority. Multiple parameters to monitor and control calls for a team to handle each of the activities which is well informed and is capable of taking objective decision on a day to day basis. A well-defined Operational budget and a regular and ongoing Management Accounting system coupled with Cost focus and regular Variance Analysis can help ABC Inc. in its constant endeavour to improve operating efficiency by controlling cost and improving profitability. References businessdictionary.com, n.d. Management Accounting, [Online], Available at: https://www.businessdictionary.com/definition/management-accounting.html, [Accessed date: March 18, 2016] debitoor.com, n.d. 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