Costing and Information Systems of the Worplestrop Essay - 1

Costing and Information Systems of the Worplestrop - Essay Example Product costs are identified with goods produced or purchased for resale in an organization. In marginal costing, the only variable cost is charged as a cost of sale and we get the contribution is which normally is given by sales revenue less the variable cost of product sold. The closing stock of goods which are work in progress or finished goods in the store is valued at variable production cost. Fixed cost are normally treated as period cost and are charged in full to the profit and loss accounts of the accounting period in which they are incurred. The principle of marginal costing of a product is that in a particular period, fixed cost will always be the same, for any volume of sales and production provided that the level of activity is within the relevant range or the budgeted range, therefore, by selling an extra item of product or service the following will happen. Similar if the volume of sale, if the volume of sales falls by one item, profit will fall by the same amount of contribution earned from the sale of items. Profit measurement should, therefore, base on analysis of total contribution. Since fixed cost relates to a period of time, and do not change with either increase or decrease in the sales volume, it is misleading to charge units of sales with a share of the fixed cost from the total contribution of the period to get the profit figure. When one unit of a commodity is produced then an extra cost must be incurred in its production as a variable cost but the fixed cost will always remain constant. Then it is true to say that it is in order to value the closing stock as a variable cost. It is sometimes called full costing, in this costing, all the manufacturing cost incurred in any particular period is accounted for, and also until the product is sold fixed overheads will remain a product cost.

How will the global communication revolution impact on the development Essay

How will the global communication revolution impact on the development of fashion and fashion-related businesses in the future - Essay Example There are two especially widely used models of the communication revolution implications. The first is termed the "Golden Straightjacket," which has been popularized by Thomas Friedman, in which economic development is regarded as a primary driver to socio-political change. This is different from a parallel vision, popularized by Samuel Huntington, where as an outcome of culture, the "clash of civilizations", rather than economic development, is the primary driver to alter. "Rejecting both concepts as being somewhat too static, a third possibility exits in which economic unrest can take cultural forms, and that an over-emphasis on Western consumerism with hostility towards Westernized elites, can exacerbate even further the cultural dimensions of this conflict" (McChesney 2001) In looking at the convergence of cultural and economic stimuli to unrest, outgrowths of the communication revolution is regarded. In the globalization of information there are the following phenomena in play: In an attempt to explore further the intertwining of cultural and economic forces as part of the communication revolution, we can turn our attention to the "globalization of style." Here we may talk about a wide variety of entertainment products, brand and fashion names, and so forth. For example the globalization of style tends to be largely an American inspired phenomenon making the U.S. a particularly salient object of political resentment and dissent. Such products as Coca Cola, Dell, Baywatch, Google, Tommy Hilfiger and other commodities tend to be American in content and character, and the single largest national purveyor of the mentioned globalization of style is in most cases the United States, which may be challenged because of this reason. The extent to which English language literacy is synonymous with the globalization of information can be identified. That is the case not only in terms of hardware acquisition, installation or repair, but also in the world of software applications. The dominance of the English language in the global communication revolution is accompanied by what is termed the bombardment of Western images. The prevalence of Western images is tempting and frustrating at the same time, as it creates unattainable desires. Additionally the global information revolution has increased social stratification in which those most likely to participate most actively tend to have fluency in the English language, foreign bonds, and high degree of education. Thus, the communication revolution is a phenomenon that is often restricted to the business or political elite. Most people consider that only a limited group can afford to