Bitcoin Is Becoming Too Stronger - 955 Words

Due to the rapid development of a cryptocurrency environment, the value of Bitcoin is becoming even stronger. Unlike other digital currency, Bitcoin is constantly showing its positive dynamics in terms of price and public acceptance. It becomes obvious after recent exchange rate increase, which is 1113.5$ now according to CEX.io. However, the ever-widening popularity of Bitcoin has resulted in more frequent hacking attempts towards cryptocurrency-related service providers. Cryptocurrency exchanges are no stranger to various hacker attacks aimed at activity disruption and virtual money theft. Being a major bitcoin pool, they are always subject to cybersecurity risk and threat. Breaking news from cyber security world Hardly had the†¦show more content†¦CryptoCurrency Security Standard can make a real breakthrough in the world of digital money if approved by the public. While this one-for-all security approach is under consideration, bitcoin exchanges are working their way forward. They are getting to grips with the hackers by all appropriate means. Caution is the parent of safety Following the lead of the most trusted and reliable platforms, one may define essential security aspects, which are obligatory for implementation. Multi-factor authentication Most Bitcoin exchanges employ this strategy to add another level of security to their systems and thus set additional barriers for intruders. To access the wallet a user needs to go through several phases of the verification process to be approved by the system. Authentication credentials include information about something a user knows, possesses and is identified by. Generally, the user identity is validated after providing a proof in the form of a secret token or one-time code together with his username and a password. Multisignature To make Bitcoin transactions safe and hard to intercept, it is essential to apply multi-signature approach. This technology requires the participation of several users while transferring bitcoins from one account to another. The transaction is finalized only when all involved users confirm it with a uniqueShow MoreRelatedThe Current Banking Industry Environment Essay1960 Words   |  8 Pagesthem a good reputation, and all have differentiation strategies in place to create competitive advantage for themselves. Using these strengths, the banks reduce business risk. A key relative weakness of these top four firms are that some banks relied too much on the US bank market rather than be completely global, which increased their business risk because now, if the market is affected negatively in some way, these banks lose money because their revenue diversification is limited. Other key relativeRead MoreMarketing and E-commerce Business65852 Words   |  264 PagesCase Study: Orbitz Char ts Its Mobile Trajectory CHAPTER 5 E-COMMERCE SECURITY AND PAYMENT SYSTEMS Opening Case: Cyberwar: MAD 2.0 Insight on Business: We Are Legion Insight on Technology: Think Your Smartphone Is Secure? Insight on Society: Bitcoin Case Study: Online Payment Marketplace: Goat Rodeo CHAPTER 6 E-COMMERCE MARKETING AND ADVERTISING CONCEPTS Opening Case: Video Ads: Shoot, Click, Buy Insight on Business: Are the Very Rich Different From You and Me? Insight on Technology: The

Persuasive Speech For Cheerleading - 791 Words

Thank you for your interest in PJH cheerleading! We are excited to begin a fun year with your cheerleader. PJH cheerleading has welcomed two new coaches to the family! Get ready for a fun-filled year, as well as a great opportunity to represent PJH. Practices: We are planning on having practices every Tuesday and Wednesday, from 3:15-4:30. We will meet in the front lobby prior to each practice to determine where practice will be held. Attendance: All absences must be discussed with the coaches. An excused absence is considered the following: illness, doctor appointment, absence from school, and any other situation approved by the coaches. Failure to report to the coaches, or continuous unexcused absences, will not be tolerated. Games:†¦show more content†¦September 28 vs. Bunger 4:00 Thurs. October 5 vs. Hoover 4:00 Tues. October 17 vs. Waverly-Shell Rock 4:15 Wrestling: Thurs. November 9 vs. Hoover/Waverly-Shell Rock 4:00 Thurs. November 16 vs. Central/Carver 4:00 Girls Basketball: Thurs. November 16 vs. Hoover 4:00 Tues. November 21 vs. Holmes 4:00 Tues. November 28 vs. Mason City 4:30 Tues. December 5 vs. Central 4:00 Thurs. December 7 vs. Bunger 4:00 Boys Basketball: Tues. January 23 vs. Bunger 4:00 Thurs. January 25 vs. Central 4:00 Tues. January 30 vs. Hoover 4:00 Tues. February 6 vs. Holmes 4:00 Tues. February 13 vs. Mason City 4:30 9th Grade Games Football : Thurs. August 31 vs. Iowa City West 5:00 Thurs. September 14 vs. Western Dubuque 6:30 @ CFHS Thurs. September 28 vs. Iowa City, City High 5:30 @ CFHS Thurs. October 5 vs. Waterloo West 5:30 @CFHS Wrestling: Thurs. November 9 vs. Hoover/Waverly-Shell Rock 4:00 Thurs. November 16 vs. Central/Carver 4:00 Girls Basketball: Thurs. December 7 vs. CR Kennedy 5:30 Mon. January 8 vs. Waterloo Columbus 4:00 Thurs. January 18 vs. Waverly-Shell Rock 5:30 Sat. January 20 vs. New Hampton 3:00 @CFHS Sat. January 27 vs. CR Jefferson 9:30 Boys Basketball: Fri. December 1 vs. Waverly-Shell Rock 4:00 Thurs. December 7 vs CR Prairie 5:00 Sat. December 9 vs CR Jefferson 9:00 Thurs. December 14 vs Waterloo Columbus 4:00 Thurs. January 4 vs Waterloo East 4:00 Tues. January 9 vs. Waterloo West 4:00 Tues. January 23Show MoreRelatedPersuasive Speech About Cheerleading773 Words   |  4 Pagesknocked down,† (Unknown). This quote never really meant anything to me until the day I discovered a sport that I came to love. Sometimes things come into your life that completely alter you as a person, whether they mean anything to others or not. Cheerleading is a life changing sport that teaches you a variety of skills, including hard work and determination. When you first join cheer, it can be an extremely intimidating experience. No one could ever really explain to you what to expect when you walkRead MoreInvestigating The Rise Of The Nazi Party During The Weimar Republic Essay2220 Words   |  9 Pageswhen Hitler was in power did favor the preservation of the Nazis but their persuasive powers and their ideologies depended on the audiences and people who were more or less susceptible to mass media and propaganda. No regulations or restrictions on mass media in a dictatorship like Germany, did help create effective popular support. In this source the authors evaluate the program that is used to censor any freedom of speech in China, at the same time we will learn how it exposes information aboutRead MoreDeveloping Management Skills404131 Words   |  1617 Pagestime? 3. Would the students start protesting even more if the principal stopped the newspaper? 4. When the welfare of the school is threatened, does the principal have the right to give orders to students? 5. Does the principal have the freedom of speech to say no in this case? 6. If the principal stopped the newspaper, would he be preventing full discussion of important problems? 7. Would the principal’s stop order make Rami lose faith in him? 8. Is Rami really loyal to his school and patriotic toRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesCommunication 341 †¢ Nonverbal Communication 341 Organizational Communication 342 Formal Small-Group Networks 343 †¢ The Grapevine 343 †¢ Electronic Communications 345 †¢ Managing Information 349 Choice of Communication Channel 350 xiv CONTENTS Persuasive Communications 351 Automatic and Controlled Processing 351 †¢ Interest Level 352 †¢ Prior Knowledge 352 †¢ Personality 352 †¢ Message Characteristics 352 Barriers to Effective Communication 353 Filtering 353 †¢ Selective Perception 353 †¢ Information

Evaluation and Application of Thesis Free Essays

MMS DBA Student-Walden University Introduction Christopher and Towill in the article, â€Å"Developing Market Specific Chain Strategies†, developed the thesis that there are three feasible pipeline designs for supply chain (Christopher Towill, 2002). These designs resulted from the analysis of the relations between, demand, product, supply lead-times, as main factors in global supply chain, and, cost and agility, as results from the market requirements. Christopher and Towill adopted a notion of total cost that reflects more the unit cost than the traditional way of limiting cost to manufacturing cost (Christopher Towill, 2002). We will write a custom essay sample on Evaluation and Application of Thesis or any similar topic only for you Order Now Hewlett-Packard (HP) along with its early integrated process supply chain management has adopted that notion of total cost (Lee Billington, 1995; Edmondson Wheelwright, 1989). In fact total integrated inventories with retailers adopted by HP correspond to the quick response model developed by Christopher and Towill (Billington et al. , 2004). The predictable demand model may fit the decentralized incorporated system adopted by HP (Edmondson Wheelwright, 1989). Analysis and Findings Based on the assumptions that demand is either predictable or volatile, product is either standard or special, and supply lead-times are either long or short, and all are applicable in the global supply market, Christopher and Towill induced eight possibilities for the supply chain based on demand, product, and supply lead-times (Christopher Towill, 2002). The findings of eight possibilities based on the characteristics of demand, product, and lead-times specified is coherent to the mathematical combination formulae associated, the number of possibilities to combine three sets of two elements each. The analysis of these eight possibilities, in respect with agility and cost effectiveness, led Christopher and Towill to conclude on the representativeness of the three pipelines, lean pipeline, agile pipeline, and quick response model, as supply chain models (Christopher Towill, 2002). These models fit well the global supply chain for, an expected demand is either predictable or volatile corresponding to the two first pipelines and an unexpected demand requires a quick response, hence the quick response model fits that kind of demand. Christopher and Towill provided in that study examples and tables supporting the findings and developed a concise theoretical basis for the quick response model. The tables may have been supported with more mathematical concepts within the text. The research findings by Christopher and Towill in this study are intended for managers of global supply chain as a whole in order to achieve competitive advantage for their companies. The lean supply chain that applies the lean model to the entire supply may be a modern view of the quick response model developed by Christopher and Towill (Mentzer, Myers, Stank, 2007, p. 288). Applicability to HP Hewlett-Packard (HP) started to tackle the global supply cost related problems back in late 1980s, and implemented integrated processes (Lee Billington, 1995; Edmondson Wheelwright, 1989). HP company leaders continued research for competitive advantage through supply chain models adopting the concept of total cost and resulted in massive cost savings (Billington et al. 2004). The adoption of the total cost of the supply chain framework mentioned shows that the quick response model as developed by Christopher and Towill is consistent to the HP Company supply model at least for pioneering in viewing the cost of a unit not only in term of manufacturing but in term of supply, building and distribution (Christopher Towill, 2002). The electronic market is changing rapidly an d HP had since 1991 implemented a decentralized and incorporated system that allowed localized divisions to operate more independently (Lee Billington, 1995). This incorporated and decentralized system adopted by HP leaders is consistent to the predictable demand pipeline developed by Christopher and Towill. Conclusion Christopher and Towill concluded, suggesting that: Generally the preferred solution will be that predictable demand for standard items will be met via a lean pipeline probably fed from overseas manufacturers. Volatile demand for special items will then be met via an agile pipeline probably fed from home manufacturers. A third pipeline design is for quick response to top-up standard products for which there are an unexpected demand for specific colors, sizes, and volume. References Billington, C. , Callioni, G. , Crane, B. , Ruark, J. D. , Rapp, J. U. , White, T. , Willems, S. P. (2004, Jan/Feb). Accelerating the Profitability of Hewlett-Packard’s Supply Chains. Interfaces, 34(1), 59-72, from Business Source Premier, doi: 10. 1287/inte. 0103. 0054 Edmondson, Harold E. , Wheelwright, Steven C.. (1989). Outstanding Manufacturing In The Coming Decade. California Management Review, 31(4), 70-90, from ABI/INFORM Global. (Document ID: 289046). Lee, H. L. , Billington, C. (1995, Sep/Oct). The Evolution of Supply-Chain-Management Models and Practice at Hewlett-Packard. Interfaces, 25(5), 42-63. Martin Christopher, Denis R Towill. (2002). Developing market specific supply chain strategies. International Journal of Logistics Management, 13(1), 1-14, from ABI/INFORM Global. (Document ID: 196608131). Mentzer, J. T. , Myers, M. B. , Stank, T. P. (Eds. ). (2007). Handbook of global supply chain management. Thousand Oaks, CA: Sage Publications. How to cite Evaluation and Application of Thesis, Papers

Finance in Hospitality Industry

Question: Describe about theFinance in the Hospitality Industry?. Answer: 1. Sources of Funding for Businesses Service Industries:- The term funding can be described as offering financial support for any program, project, business or personal need. In the business sector, funding can be classified into two segments. The owners of the business can provide the required financial support from their own reserve. In case of companies, the requirement is fulfilled from the various reserves of the company. It can be referred as internal funding. On the other hand, external funding can be described as the funding provided by the outsiders, mainly banks, other financial organizations and personal investors. In most of the time, the businesses have to bear additional expenses for the external funding, such as, interest (Nyide et al. 2014). Various sources of business funding are discussed below:- Personal Funding:- As discussed above, business owners can fund the businesses from the personal resources. The owners can collect the fund from personal savings and other family members. They can also borrow the required amount from family members or friends. Most of the time, this kind of funding are used to be interest-free (Jones et al. 2012). Loan from Financial Institutions:- The funds are also collected through loans from various financial institutions, such as, banks, insurance, other financial companies etc. The owner has to convince the investors about the profitability of the venture for taking the loan. In many cases, the loans are granted by keeping any asset as mortgage to the loan givers. The owners have to repay the loan amount in terms of monthly, quarterly or annuals repayments along with the interest. Issue of Shares:- Fund generation by the issue of shares is possible only if the business is registered as a company. In that case, the entrepreneurs use to publish the prospective of the business and issue share in the open market. It must be noted that the purchaser of the equity shares are considered as owners of the company and the dividend, paid to them, is the share of profit, not any kind of interest. Income Generation Method for Businesses Service Industries:- Generally, the income of any business is used to be generated various means. For purpose of disclosure, these various methods of income generation have been classified on the nature of the financial activities. The business activities related to the generation of income, can be differentiated into two groups Operating and Non-operating activities. The Non-operating activities are further categorized into two groups Financing and Investing Activities. The methods of income generation are discussed below:- 2. Operating Activity:- According to the International Accounting Standard, the operating activities can be defined as the main income generating activities of an entity and other activities, which cannot be categorized as financing or investing activities. Incomes, generated from such activity, are described as operating income (Brtland 2012). Operating income is mainly earned from the basic or primary activities of any business. For example, for any manufacturing business, the operating income is the revenue, generated by the sale of manufactured products, whereas, for any service related business, it is earned by rendering service to the customers. The various sources of operating income are as follows:- Income from the sale of products or service, rendered Income from other activities, such as, royalties, discounts, commissions etc. These type of incomes are not the direct income but closely related with the operating activities Income from refunds, especially, taxes, if the tax was not paid for any financing or investing incomes. Financing Activities:- Financing activities are related to the capital acquiring processes. It reflects the amount of capital, collected from various sources and also the amount of expenses, incurred for acquiring and maintaining the capital. The main financing activities for income generation include two methods. The business can generate financing income by either equity financing or debt financing. Equity financing is the method to raise capital by issuing shares in exchange of the ownership of the company. The income from debt financing are generated by borrowing loans from market at certain interest rates. It should be noted that the income generated by debt financing is the liability for the business (Drury 2012). Investing Activities:- Investment activities are linked with the various investments made by the business entity in different type of assets. Incomes, generated from such activities, are called as Investment incomes. Generally, the term investment is meant to invest money in other business or deposit money in banks or same type of institutions. In business sector, investment activities not only include the normal investment but also the purchase of fixed assets or acquisition of other firm. The various sources of investment incomes are- Sale of equity or bonds of other businesses Sale of fixed assets Interest earned from loans given to other entities Dividend received for the equities of other businesses 3. Assessment of the Sources Structure of Trial Balance:- Trial Balance is the financial statement, prepared in the end of an accounting period for an accounting entity, by listing the closing balances of all the accounts in the debit and credit columns properly to check the accuracy of the accounting system of that entity. Though the purpose of Trial Balance is to verify the accurateness of the accounting system, it has been observed that there are many accounting errors, which cannot be detected from trial balance. The trial balance provides better results for ensuring the mathematical accuracy and detecting the single-sided errors (Mroczkowski and Flanders 2015). Sources of the Trial Balance:- The main sources of the Trial Balance are the various ledger accounts of the accounting entity, which have balances. The sources of the given trial balance are Credit balances of Capital A/c., Bank Loan A/c., Accumulated Depreciation on Fixture Fittings A/c. Trade Payables A/c. and, Debit balances of Bank A/c., Cash Cash Equivalent A/c., Furniture Fittings A/c. Trade Receivables A/c. Structure of the Trial Balance:- The basic structure of the trial balance is given below:- Accounts Type Allocated column in Trial Balance Assets Debit Column Liabilities Credit Column Revenue Credit Column Expenses Debit Column Profit Credit Column Loss Debit Column Capital Credit Column Reserve Credit Column In the given trial balance, all the accounts are either asset type or liability type, except the Capital A/c. Hence, the balances of the assets are allocated in the debit column and the liabilities Capital A/c. are listed in the credit column (Bragg 2013). Evaluation of Business Accounts, Adjustments and Notes:- Evaluation of Business Accounts:- From the accounting extracts of Faith Restaurant, it can be stated that:- The accounts are not differentiated into debit and credit columns The administrative and distribution expenses are marked differently, but the cost of sales, though being an expense item, not marked separately. There is no amount given for capital or any type of liabilities The profit and assets are different type of accounts, but in the extract these items are listed together The furniture fixture is shown at the cost price, but there is no accumulated depreciation account created for the asset Adjustments:- The adjustment entries for the transactions mentioned in the notes are as follows:- Capital A/c..Dr. 2250 [(25000-2500)x10%] To, Furniture Fixtures A/c. 2250 (Being the depreciation for the previous year charged on Furniture Fixture and adjusted with the Capital A/c.) Furniture Fixture A/cDr. 2500 To, Cost of Sales A/c. 2500 (Being the purchase of furniture, wrongly included in Cost of Sales, adjusted with Furniture Fixtures A/c.) Distribution Expenses A/c.Dr. 250 To, Administrative Expenses A/c. 250 (Being the diesel cost for distribution, wrongly included in the administrative expenses, adjusted with the Distribution Expenses A/c.) Note on Adjustments:- The adjustments entries, made above, is affecting the accounts of the business in the following manner:- According to the accounting standards taxation acts, depreciation should be charged on the assets from the first year of purchase. As, the depreciation was not charged on furniture in previous year, the profit of the firm had become overvalued and as the profit is used to be added with the Capital A/c., the Capital A/c. would also reflect an overvalued amount. Hence, in the current year, the Capital A/c. is debited to reduce it to the actual amount and the Furniture Fixtures A/c. is reduced also by crediting it for amount of depreciation, which should have been charges on the furniture previous year. The wrong entry made for purchase of furniture, has increased the amount of Cost of Sales, which in result has reduced the amount of Gross Profit, whereas, the total amount of assets has also become undervalued. Therefore, the necessary adjustment entry has been made to reduce to cost of sales and increase the value of furnitures. The last entry does not have any material effect on the business. But as per the accounting rules, the cost of diesel, used for distribution purpose, should be included in the distribution expenses rather than administrative expenses (Box 2013). Purpose Processes of Budgetary Control:- Budgetary control is the method, where the management uses to estimate certain budgetary goals, compare the goals with the actual performance and, if required, make necessary adjustments to maintain the budget (Jones 2012). Purpose of Budgetary Control:- The purposes for budgetary control are described below:- Better planning for future cost, performance and requirements of an enterprise Cost effective and efficient operations through several departments or cost centres Reduction of wastage and labor idle time Estimation of future capital expenses Amendments for the disparities in the budgeted and actual performances Centralization of the cost control system Increase in the total profitability by cost effective operation Proper job allocation and distribution of responsibility amongst the staffs (Marginson 2013) Processes of Budgetary Control:- The processes of any type of budgetary control include the following basic steps:- Preparation of Budget according to the requirements, policies and future planning of the enterprise, Comparison of the estimated budgetary performance with the actual performance of the project or business in a continuous and systematic manner Modification in the budget in accordance to the changes in the actual circumstances (Nunes and Machado 2014) Analysis and Suggestions for Variation in Budget:- Variation from Budgeted Performance:- The variation between the budget and actual performances are shown in table:- Budget Actual Budgeted Standard for Actual Participants Variance % of Variance Number of participants 20,000 15000 -5,000 -25.00% 000 000 000 000 Revenue 2000 1700 1500 200 13.33% Cost of sales -1500 -1390 -1125 265 23.56% Gross profit 500 310 375 -65 -17.33% Administrative expenses -200 -210 -150 60 40.00% Distribution expenses -150 -90 -112.5 -23 -20.00% Net Profit 150 10 112.5 103 -91.11% Many of the cost items use to vary according to quantity of the output. Therefore, the differences are calculated on the basis of budgeted standard for actual participants and actual amounts. The differences in the amounts are represented in the following chart:- The rates of variance for different items are also shown in the following chart:- From the above graphs, it can be stated that though the revenue earned from event was higher than the budgeted standard, the gross profit and net profit were significantly lower than the standard. It is mainly caused because of the drastic increase in the administrative expenses and the cost of sales. Suggestion for Future Management Actions:- As the business operation is related to event management services, the output should be budgeted in conservative manner. The administrative expense was not only higher than the budgeted amount for actual performance, but also from the budget made for 2000 participants. Hence, in future the administrative expenses should be estimated properly. Moreover, this expenses are more or less fixed type of costs. If, the output changes from the budget, these costs remain quite unchanged. The cost of sales uses to vary according to the output. In this case, the number of participants has reduced but the cost of sales has increased significantly. In future, the management should control the cost of sales more effectively (Whitecotton et al. 2013). 4. Calculation and Analysis of Ratios:- Calculation of Ratios:- a) Gross Profit Margin Ratio Paticulars 2015 2014 Sales revenue A 100,000 80,000 Gross Profit B 60,000 50,000 Gross Profit Margin Ratio B/A x 100 60.00% 62.50% b) Operating Profit Margin Ratio Paticulars 2015 2014 Sales revenue A 100,000 80,000 Operating profit C 10,000 4000 Operating Profit Margin Ratio C/A x 100 10.00% 5.00% c) Current Ratio:- Paticulars 2015 2014 Trade Receivables 9500 9200 Inventories 10000 8000 Current Assets D 19500 17200 Trade Payable 9000 9000 Current Liabilities E 9000 9000 Current Ratio D/E 2.17 1.91 d) Return on Capital Employed:- Paticulars Amount Capital Employed in 2014 F 35000 Capital Employed in 2015 G 60000 Average Capital Employed H = (F+G)/2 47500 Profit before Taxation I 5000 Interest on Loan J 5000 Profit before Interest Tax K= I+J 10000 Return on Capital Employed K/H x 100 21.05% e) Trade Receivables Period:- Paticulars Amount Opening Balance of Trade Receivables L 9200 Closing Balance of Trade Receivables M 9500 Average Trade Receivables N = (L+M)/2 9350 Sales Revenue O 100000 Trade Receivable Period N/(O/365) 34.13 f) Trade Payables Period:- Paticulars Amount Opening Balance of Trade Payables P 9000 Closing Balance of Trade Payables Q 9000 Average Trade Payables R = (P+Q)/2 9000 Cost of Sales S 40000 Trade Payable Period R/(S/365) 82.13 g) Gearing Ratio:- Paticulars 2015 2014 Bank Loan T 50000 30000 Closing Balance of Capital Employed G 60000 35000 Gearing Ratio T/G 0.83 0.86 Ratio Analysis:- The financial performance of the business is analyzed below on the basis of the ratios, calculated above:- The gross profit margin ratio is above 60%, which clarifies that the business is running quite well. But the ratio has declined from the previous year, which is matter of concern. The Operating profit margin ratio has increased to 10%. The ratio is quite low in comparison to the gross profit margin ratio. The current ratio is 2.17. It indicates that the current asset of the company is more than two times of current liabilities, which can be regarded as an ideal ratio. Return on Capital Employed rate is 21.05%. It explains that the owner is earning more than 20% on the invested capital. The business seems to be quite profitable for the owners (Muradolu and Sivaprasad 2014). The trade receivables period is 34.13 days, which can be regarded as normal average period for credit recovery. But for a restaurant business, the period is little higher than the average. The trade payables period is 82.13 days. The period is too longer for restaurant businesses. Though the gearing ratio in the current year has decreased to 0.83 from 0.86 of previous year, it is very high. It denotes that most of the business capital, invested is collected by debt financing. Recommendation for Future Management Strategies:- From the above ratio analysis, the following recommendations are suggested for the businesses:- The management should detect the reasons for decrease in the gross profit margin ratio. The operating profit ratio is very low in comparison to gross profit margin ratio. It indicates that the operating expenses other than cost of sales, are very high. The management should reduce the other operating expenses to increase the amount of operating profit. The trade payables period are quite longer. Though, it will not affect the profits of the business, to maintain proper business ethics, the management should repay their creditors earlier than the average period. The owners should decrease the amount of bank loans and rely more on personal funding (Healy and Palepu 2012). 5. Categorization of Costs:- The costs, provided in the information are categorized in the following table: Cost Details Type of Cost Reasoning Cost of Wages Variable Cost The total amount of these cost items are totally depended on the numbers of tickets. If the number of ticket varies, then it will also change accordingly. Cost of Printing Cost of Popcorn per Ticket Rent for the Hall Fixed Cost The rent of hall use to be paid as per agreements. The quantity of output does not create any imact on it. If the organizer cannot sell a single ticket, he still have to bear this cost. Electricity Bill Semi-Variable Cost In this cost item, there are some fixed amounts, which have to bear by the business as fixed costs and balance amount depends on the consumption of electricity and number of phone calls (Weygandt et al. 2015). Telephone Bill Calculation of Contribution and Estimated Sales:- Contribution per Ticket:- Calculation of Contribution Per Ticket:- Particulars Amount Per Unit Total Unit Total Amount (no. of Tickets) TOTAL SALES (A) 30 5000 150000 Variable Costs: Cost of Wages 10 5000 50000 Cost of Printing 1 5000 5000 Cost of Popcorn 2 5000 10000 TOTAL VARIABLE COST (B) 13 65000 CONTRIBUTION (A-B) 17 85000 As per the above calculation sheet, the contribution per ticket should be 17 per ticket. Estimation of Number of Tickets Sold:- The numbers of tickets, required to be sold, for achieving the targeted profit of 20,000, are calculated in the following table:- Calculation of the Number of Tickets:- Particulars Amount Per Unit Total Unit Total Amount (no. of Tickets) TOTAL TARGETED PROFIT (A) 20000 Fixed Cost: Rent of Hall 45,000 p.a. 45000 Semi Variable Cost:- Electricity Bill 7000 7000 Telephone Charge 1000 1000 TOTAL FIXED SEMI-VARIABLE COST (B) 53000 CONTRIBUTION [ C= (A+B)] 73000 Contribution Per Ticket (D) 17 Required Number of Tickets (C/D) 4294 Break Even Analysis:- If the selling price per ticket would cost to 14, then the Break-even Point in units will be, Calculation of Break-Even Point in Units:- Particulars Amount SELLING PRICE PER UNIT (A) 14 Variable Costs per unit: Cost of Wages 10 Cost of Printing 1 Cost of Popcorn 2 TOTAL VARIABLE COST PER UNIT(B) 13 Fixed Cost: Rent of Hall 45000 Semi Variable Cost:- Electricity Bill 7000 Telephone Charge 1000 TOTAL FIXED SEMI-VARIABLE COST ( C) 53000 BREAK-EVEN POINT in UNITS [C/(A-B)] 53000 The Break-Even Point in units for the selling price of 14 per ticket, would be 53000 tickets. Hence, it can be advised that the management should not go ahead with the concert, as it would generate huge loss (Kaplan and Atkinson 2015). Reference List:- Box, N. 2013,Accounting, News Limited, Melbourne, Vic Bragg, S.M. 2013,Accounting Best Practices,7. Aufl.;7th;7; edn, Wiley, US Brtland, J. 2012, "Entrepreneurial strategy v. accounting accuracy in calculating capital and income",The Review of Austrian Economics,vol. 25, no. 2, pp. 93-114 Drury, C. 2012,Management and cost accounting,8th edn, Cengage Learning, Andover Guilding, C. 2009,Accounting essentials for hospitality managers,2nd edn, Elsevier/Butterworth-Heinemann, Amsterdam;London;Boston; Healy, P. and Palepu, K., 2012.Business Analysis Valuation: Using Financial Statements. Cengage Learning. Jones, T. 2012,Strategic Managerial Accounting: Hospitality, Tourism Events Applications,6th edn, Goodfellow Publishers Limited, GB Jones, T., Atkinson, H. and Lorenz, A., 2012.Strategic managerial accounting: hospitality, tourism events applications. Goodfellow Kaplan, R.S. and Atkinson, A.A., 2015.Advanced management accounting. PHI Learning Marginson, D., 2013. Budgetary control.The Routledge Companion to Cost Management, p.9 Mroczkowski, N.A. Flanders, D. 2015,Accounting: to trial balance,11th edn, Cengage Learning Australia, South Melbourne, Victoria Muradolu, Y.G. and Sivaprasad, S., 2014. The impact of leverage on stock returns in the hospitality sector: evidence from the UK.Tourism Analysis,19(2), pp.161-171 Nunes, C.R. and Machado, M.J.C.V., 2014. Performance evaluation methods in the hotel industry.Tourism Management Studies,10(1), pp.24-30. Nyide, C.J., Zwane, B.K. and Nxumalo, B.H., 2014. Financial Accounting 1 Module II Weygandt, J.J., Kimmel, P.D. and Kieso, D.E., 2015.Financial Managerial Accounting. John Wiley Sons Whitecotton, S., Libby, R. and Phillips, F., 2013.Managerial accounting. McGraw-Hill Higher Education.