Sales Procedures and Logistics of Usha Martin - 6181 Words

ON SALES PROCEDURES amp; LOGISTICS PREPARED FOR AND PRESENTED TO (WIRE amp; WIRE ROPE SPECIALITY DIVISION, RANCHI) UNDER THE GUIDANCE OF Mr. ARUN KUMAR DEY (Assistant Manager) (Sales Co-ordination) SUBMITTED BY NIKHIL KIRAN BBA, BIT MESRA, RANCHI.(2008-11) ANKIT KHANDELWAL BBA, BIT MESRA, RANCHI.(2008-11) VIKASH KUMAR DUBEY BBA, BIT MESRA, RANCHI.(2008- 11) DECLARATION CERTIFICATE This is to certify that the work presented in the project entitled â€Å"SALES PROCEDURES AND LOGISTICS OF USHA MARTIN†Ã¢â‚¬ ¦show more content†¦In this year Usha Martin Limited has awarded for excellence in consistent TPM (Total Productive Maintenance) in 2008 by Japan Institute of plant maintenance (JIPM), and CII (Confederation of Indian Industries) 2009- In this year company sets some more plants inside the Tatisilwai wire and wire rope plant and the construction and upgradation is continued, like 20MW power plant is under construction which will increase the monthly production of the unit. A 3000 tn capacity LRPC plant was established in this year at Tatisilwai plant. The company acquired Netherland based distribution and Rigging Company De Ruiter Stackable B.V.Successfull commissioning of wire rope plant at Houston, America. Other Particulars IN USHA MARTIN L.T.D Location Chotanagpur Plateau Plant Area 112 Acres Nearest Town Ranchi (13 Km) Nearest Railway Station Tatisilwai (1 Km) Nearest Airport Ranchi (17 Km) Nearest Highway N H-33 (8 Km) Nearest Port Kolkata (412 km) Power Contracted demand 8000 KVA Source-JSEB Water 2400-3200 m3/day Sources Subernekha River . Competitors for Usha Martin Ltd. GLOBAL COMPETITORS IN INTERNATIONAL MARKETS COMPANY COUNTRY Kiss wire Korea British Rope U.K. Haggier rand South Africa Fedger Switzerland Austria drought Austria Casar Germany Bridon Germany Dietz Germany John Shaw U.K. Redaelli Italy SFE SpainShow MoreRelatedSales Procedures and Logistics of Usha Martin6187 Words   |  25 Pages ON SALES PROCEDURES amp; LOGISTICS PREPARED FOR AND PRESENTED TO (WIRE amp; WIRE ROPE SPECIALITY DIVISION, RANCHI) UNDER THE GUIDANCE OF Mr. ARUN KUMAR DEY (Assistant Manager) (Sales Co-ordination) SUBMITTED BY NIKHIL KIRAN BBA, BIT MESRA, RANCHI.(2008-11) ANKIT KHANDELWAL BBA, BIT MESRA,

My Views On Education And Education - 2124 Words

Being aware of what shapes our views on education and our desire to teach is important in understanding our goals and motives as teachers. In this essay, I will recall three memorable learning experiences and critically reflect on them while identifying how my interest in teaching arises from these experiences. The first learning experience relates to my desire in becoming a math teacher. Whenever I told people in China who had known me before I came to Australia that, they would always give me raised eyebrows. What I find interesting and rather sad is that I p. In China, I had always been considered, whether by teachers, peers or even parents, ‘poor’ at maths. To this day, a small part of me still am not convinced I am capable of becoming a qualified maths teacher, even when my current academic results tell otherwise. Reflecting on it now, I believe my lack of confidence and indelible perception that I’m bad at this strong subject of mine arises from my schooling experience in China. In middle school back when I was in China, maths was never something I thought I could develop an interest in. The constant testing on knowledge beyond syllabus content to differentiate students made it hard for me to have anything to work towards as it was impossible to know what would be in the test. I remember feeling disheartened as I thought I had made no progress despite a large amount of time invested. These assessments did not â€Å"promote equity† as they ought to, as espoused by EwingShow MoreRelatedMy Views On Education And Education1154 Words   |  5 PagesCompulsory Education. In this paper, I am going to examine and compare my views on education to the great philosophers Aristotle, Socrates and Plato. Education should not be something forced on people from a very young age. We are educating our children to be master test takers who conform to the norm and not to think outside the box. My position is supported by Socrates in Plato s The Republic and Aristotle in his Nicomachean Ethics, Book II. Because students waste too much time on testing,Read MoreMy Views On Education And Education1304 Words   |  6 PagesCompulsory Education In this paper, I am going to examine and compare my views on education to the great philosophers Aristotle, Socrates and Plato. Education should not be something forced on people from a very young age. We are educating our children to be master test takers who conform to the norm and not to think outside the box. My position is supported by Socrates in Plato s The Republic and Aristotle in his Nicomachean Ethics, Book II. Because students waste too much timeRead MoreMy View Point On Education915 Words   |  4 PagesI have a different view point on education as a whole but I also appreciate the education that I have been lucky enough to have. Yes, I have had days and maybe even weeks during my years of schooling where I have wanted to quit and never sit in a classroom again. However, after going through this class I wish I could go back and tell my younger self to appreciate all the opportunities my education has given me because not everyone has what I had as far as scho oling. An education is so important andRead MoreMy Views On Education 2051182 Words   |  5 Pages Education 205 has taught me so much and opened my eyes on so many different opinions and views that others have. It also opened up my thoughts and views I have on the world. I not only learned so much about different bias’ and assumptions but changed my view on one. I had a few assumptions and biases. I didn’t think frisking was a good thing and didn’t know it was still going on in New York city. I also found out the real definition of frisking. Another assumption I had was that Muslim’s believedRead MoreMy Views On Philosophy Of Education1294 Words   |  6 PagesPhilosophy of Education Let us remember: One book, one pen, one child, and one teacher can change the world. Teaching is a very important responsibility that is crucial to our children in society. Not only does teaching give the teachers responsibility to teach the children school subjects but they also open the children’s minds to create and imagine a world on their own. Teachers not only open the minds of children to open opportunities in their lives but they also provide students with the experienceRead MoreMy Views On Education And Policy Cycles1390 Words   |  6 Pagesexplains her changed views on education and policy cycles. Ravitch talks about the evolution of her experience from public schooling to politics. She discusses education and how it transformed to a testing movement. The two main focuses in American education were accountability and choice. Educational differences began with the transition of the Clintons administration to the Bush administration. Her career enhanced within educat ion when she was asked to work for the Department of Education. She joined theRead MoreMy Views On Education Is Not Just A Right868 Words   |  4 PagesMy Views on Education Education is not just a right, it’s truly a blessing to be able to learn new things every day. We should be very thankful for the opportunity to get an education, while others are actually forced away from getting an education. The ability to expand your knowledge is something that nobody should ever take for granted. People learn in many different ways. As Americans, the most important kind of knowledge we have to have is learning of statistics and what has happened in theRead MoreMy Views On Education, Sports, And My Readings Of The Bible1142 Words   |  5 Pageshave had through education, organized sports, and my readings of The Bible. I have never been an individual who loves to read. I have read many books, but mainly for school purposes. My values and attributes come from being accepted into the Skip a Book Program in sixth grade, my love for soccer and how it devoured most of my time from the ages of three to sixteen, and my own personal beliefs I have acquired through studying The Bible. To begin, the values I have about education all began from beingRead More My Views On Education Philosophy Essay examples1978 Words   |  8 PagesMy Views On Education Philosophy When I first began college I wanted to be an accountant. I had taken accounting class in high school and really enjoyed it. Accounting is finite and rigid in terms of how it is structured. The rules did not change in regards to how you went about learning and applying it. Once you mastered the principles of accounting you would be able to do your assignments in class or your work in the real world proficiently. As I began taking the core accountingRead MoreReflection About Education In China1077 Words   |  5 PagesWe get education everyday. It can not seen or touched. But education obviously has a huge impact on our individual, society, nation, and all aspects of our lives. I am a student from China. I think the understanding of education is very different under different cultures. In this essay, I will combine my educational experience in China and the learning experience in module 1 to objectively analyze education from different perspectives. And Ill explain what Ive changed in understanding and thinking

Immigration And The United States Essay - 1951 Words

Immigration as a whole is not the problem of focus but instead it is the system that is in place to regulate immigration and prevent the negative aspects of immigration influencing the United States. The Obama Administration recognizes the system is broken and knows it is a big deal for the country not only are we aware of the situation but there are things we would like to put into action in order to fix the system, sooner rather than later. The Obama Administration would like to do things such as place focus on deporting felons and not hardworking families and ensuring that those who do immigrate to the United States do their fair share within the country. We believe the United States citizens are not losing their jobs solely because of the immigration but because of the illegal immigration and undocumented workers who are employed largely because they are exploited and will work for much lower wages. We see this as hazardous to our economy. The Obama administration has taken execu tive actions in order to try and fix the system however powers are still limited and it is ultimately up to congress on whether these such actions can be executed successfully. Such actions would include tackling immigration at it source , the border, and strengthening security, earned citizenship, streamlining immigration, and using immigration to grow our economy. As stated before the Obama Administration unlike some others arguments recognize the benefits of immigration to the United StatesShow MoreRelatedImmigration And The United States986 Words   |  4 PagesImmigration in the United States continues to increase rapidly year by year. According to an analysis of monthly Census Bureau data by the Center for Immigration Studies, the immigration population in the United States, both legal and illegal, hit a record of 42.1 million in the second quarter of this year, an increase of 1.7 million since the same quarter of 2014 (CIS.org). Clearly, Immigrants make up a large part of th e population in the United States, and for most immigrants, migrating to theRead MoreImmigration Of The United States1399 Words   |  6 Pages Michelle Faed English 126 Immigration in the United States The United States of America, being a country established by immigrants, is known all over the world as the land of great opportunities. People from all walks of life travelled across the globe, taking a chance to find a better life for them and their family. Over the years, the population of immigrants has grown immensely, resulting in the currently controversial issue of illegal immigration. Illegal immigrants are the people whoRead MoreImmigration And The United States965 Words   |  4 Pages Immigration is a highly controversial and big problem in the United States today. â€Å"While some characterize our immigration crisis as solely an issue of the 11 to 12 million unauthorized immigrants living in this country, our problems extend beyond the number of undocumented people to a broader range of issues. The lack of a comprehensive federal solution has created a slew of lopsided, enforcement-only initiatives that have cost the country billions of dollars while failing to end un authorizedRead MoreImmigration On The United States1302 Words   |  6 PagesImmigration Rights in the U.S. Immigration has occurred in the U.S. for for many years. Some say it’s the foundation of our country. America is the country where people leave their own country to live. People would leave due to mistreatment, hunger issues or job opportunities. America is known for starting over or accomplishing dreams, so immigrants travel over to follow those dreams. People emigrate from one country to another for a variety of complex reasons. Some are forced to move, due to conflictRead MoreThe Immigration Of The United States1711 Words   |  7 PagesThe vast majority of people living in the United States are descendants of immigrants, and yet majority of them are against them. It is quickly forgotten that America was built on immigrants that wanted a new life. A life free from harsh government, and the freedom from forced religion. The original settlers were immigrants that stole this land; immigrants continued to come for years. It is not a newly constructed concept that immigrants have always been a problem, ask any Native American. One usedRead MoreImmigration Of The United States1064 Words   |  5 Pages Camarota (2007, p.1), director of the Immigration Studies Center, reports there are 1.6 million documented and undocumented migrants take up residence in the United States every year. Camarota goes on to say that the immigrants occupy one-eighth of the total population who settled in the U.S. The flood of aliens, to a significant degree, hinders the development of the United States. Therefore, the issues which relate to immigration must not be neglected, and the government should keep the numberRead MoreImmigration And The United States Essay1377 Words   |  6 Pages Immigration has been a large conversation topic for such a long time in our country. We have worked on policies for immigration, and have made changes to them throughout the duration of our country’s existence. This topic is always worth mentioning and important, but has become a bigger topic once again due to presidential elections and the conversations being had about immigration from said elections. It is not necessarily easily seen if the concern with immigration is who is here legally or limitingRead MoreImmigration : The United States1087 Words   |  5 PagesThe United States is a popular and powerful which many people admire. It is very true that the country prospect and is more enrich. Opening the border might improve the economy or can impact the job market for American citizens. It is the jobs of American citizens to be given more to this illegal immigrant. I believe the U.S. borders should remain closed. While it is clear that opening the borders can have benefits, I believe it is more important to keep jobs available for Americans. In my opinionRead MoreImmigration Of The United States1565 Words   |  7 PagesA native of Mexico, Gonzalez came to the United States using a visa, to visit family members and in 1994, police convicted Gonzalez of the abduction and rape of a Waukegan, Illinois woman. During his conviction his attorney, Vanessa Potkin, addressed that at twenty years old, Gonzalez spoke very little English, had no criminal record, and yet the police wanted to pin the crime on him. Twenty years later, DNA from the crime cleared him of both charges, and Gonzalez is now threatened with deportationRead MoreThe Immigration Of The United States1632 Words   |  7 PagesFrench and European to settle in the New World. Since the colonial era, America has seen a wave of immigrants migrate in search of freedom and equality. Is this the same immigration today? Nearly 11.6 million immigrants from Mexico reside in the U.S. Today Immigration has a significant impact on many aspects of life in the United States, from the workforce and the classroom to communities across the country. Not all immigrants come to America legally whether as naturalized citizens, legal permanent residents

Corporate Accounting In the Leasing Process

Question: Discuss about the Corporate Accounting for the Leasing Process. Answer: 1: (a) In the leasing process lessor allows use of certain assets in lieu of the rent amount. This is a perfect example of the finance lease where Salohcin Ltd leased asset is a specific item of industrial machinery, portable Enamel Drying Room to Ffoeg Ltd, for a period of 4 years. The asset was actually purchased by the lessor and then given on for lease to Ffoeg Ltd for an annual rent of $1,20,000. The owning of the assets and then leased out is considered as the finance lease according to Statement of Standard Accounting Practice 21. (b) Total lease receivable is $1,00,000 x 4 = $4,00,000 The annual lease payment of $20,000 towards insurance and maintenance is not considered here. The present value of lease receivable at the inception of the lease will be $4,00,000 x 3.106= $ 12,42,400. (Assumed that, first lease payment will be due on 30 June, 2006) (c) Date Annual Lease Payment Executory Cost Interest (20% on Liability) Reduction of Lease Liability Lease Liability 30.06.2006 349,160 30.06.2006 120,000 20,000 100,000 249,160 30.06.2007 120,000 20,000 49,832 50,168 198,992 30.06.2008 120,000 20,000 39,798 60,202 138,790 30.06.2009 120,000 20,000 27,758 72,242 66,548 480,000 80,000 117,388 (d) Journals in the books of Salohcin Ltd (Lessor) 30.06.2006 Direct Cost Dr. 15000 Cash Cr. 15000 Cash Dr. 120000 Lease receivable Cr. 100000 Insurance and Maintenance Cr. 20,000 29.06.2007 Interest Receivable Dr. 49832 Interest RevenueLeases Cr. 49,832 (Salohcin Ltd recognizes the interest revenue earned during the first year through the following entry) 30.06.2007 Cash Dr. 120000 Lease Receivable Cr. 50168 Interest Receivable Cr. 49832 Insurance and Maintenance Cr. 20000 29.06.2008 Interest Receivable Dr. 39798 Interest RevenueLeases Cr. 39798 30.06.2008 Cash Dr. 120000 Lease Receivable Cr. 60202 Interest Receivable Cr. 39798 Insurance and Maintenance Cr. 20000 29.06.2009 Interest Receivable Dr. 27758 Interest RevenueLeases Cr. 27758 30.06.2009 Cash Dr. 120000 Lease Receivable Cr. 72242 Interest Receivable Cr. 27758 Insurance and Maintenance Cr. 20000 01.07.2009 Cash Dr. 10000 Gain on Sale of Leased Equipment Cr. 10000 (e) The Portion of the balance Sheet of Salohcin Ltd (Lessor) For the year 2006 Non-Current Assets (Investment) Lease receivable (249160-50,168) $198992 Current assets Interest receivable $49832 Lease receivable $50168 The Portion of the balance Sheet of Salohcin Ltd (Lessor) For the year 2006 Non-Current Assets (Investment) Lease receivable (198992-60202) $198992 Current assets Interest receivable $39798 Lease receivable $60202 2: Introduction: The discussion paper on Initial Accounting for Internally Generated Intangible Assets by the Australian Accounting Standards Board office was represented by Robert Keys and Dean Ardem. The Assets are broadly classified as Tangible Assets and Intangible Assets. Tangible assets are those that we can see and feel or which is having a physical existence like Plant Machinery, Land and Building, Motor Vehicles, Office equipments, etc while Intangible assets are those which we cannot see physically but can be only realised or understandable as in non-physical form or otherwise as mentioned in the AASB 138/IFRS 3 as an identifiable non monetary asset without any physical existence like; Research and development by any company turning into internally generated intangible assets. Customer related intangible assets like Customer contracts, customer relationships, non contractual customer relationships, customer lists, etc. Contract related intangible assets like lease agreements, licensing agreements, broadcast and operating rights, etc. Marketing related intangible assets like internet domain names, newspaper mastheads, trademarks or trade name, etc. Technology related intangible assets trade secrets, computer software, patented technology, unpatented technology, databases, etc. Arts and culture related intangible assets are like literary works, television programmes, playwrights, copyrights, etc. The valuation Process: It is mentioned that only purchased capital items will not be considered as assets in the business but when an assets is created internally over a long period of time is also be termed as an assets and also known for its asset bearing features like it gives future benefits to the business and in the long run business gets to use this as an asset with different benefit bearing capacity. The report also says that there is a close association between the generation of assets and expenditure incurred but always they may not coincide with each other but may have separate existence (aasb, 2009). The large biomedical company making huge expenditure in their research and developments work is not in any single year or period but for the period which is stretched for some time or many years. The main purpose of the high expenditure in research and development is with the purpose of making great breakthrough in more vivid biological and medical discoveries that may be used for further betterment of human life or creating a better environment for mankind for getting over the medical or biological disadvantages the society is under. The internally generated assets may be a result of or arising out of planned usage of development and research phase of an internal project (charteredaccountants, 2016). The cost capitalisation is a mechanism followed for initially recognising different types of internally generated intangible assets under valuation based model. The cost thus capitalised may be adjusted to fair value during reporting time just by making it a certain step for accounting instead of measurement of such assets. This process may affect impairment of capitalised research and development costs other than research and development expenses. Under cost based model historical cost measurement is followed for internally generated assets. Cost based model is not a value indicator but may be used for initial measurement. Under fair value based model is used to determine the value for which the asset could be exchanged. Internally generated assets are of two types Planned assets and unplanned assets. By this manner the feature of such assets are determined for expected future economic benefits and control (DellAtti Pastorelli, 2006). Recognition of the internally generated assets is done if it helps in future economic benefits and the cost of value can be measured with all possible reliability. AASB 138, paragraph 21(b) refers that cost based model is best used for initial recognition of internally generated intangible assets. The future economic benefit to the company should flow from the assets. In the paragraph 22, it is clearly stated that the probability of expected future economic benefit should be valued based on the estimates of the management. AASB initially recognised that, intangible assets internally generated can be valued on fair value. Research costs are always in general concept incurred under IASB with a view to give rise to an asset which has ultimate potential to grow for national interest. Conclusion: The possible advantages and disadvantages of recognising internally generated intangible assets under AASB 138 will be as stated below; The main advantages of internally generated intangible assets is that the assets can be used in deferred manner to generate long term benefits in the business as a going concern which means that till the business is in operation. Another advantage of internally generated intangible assets is that it is in consistent with accountability of management enabling an assessment. The main disadvantages of not recognising internally generated intangible assets are that such assets will have high uncertainty in relation to future treatment of such assets; partial lack of control or excludability, non-recognition can cause serious harm problem and non-tradability. 3: Genesis of the amendment The main objective of the financial reporting is to have basic system of financial information and database for the purpose of control which will be useful to all stakeholders particularly investors existing and new , other creditors , lenders for making or taking decisions. All stakeholders like investors, lenders, creditors, taxpayers, other contributors are members of the community as a whole who wants basic information from all business where they have share and interest. For example that any new decision by parliament may be taken on the basis of information available from an industry so that the taxpayer can also take decision if they need to represent any such entity, also on such information will depend if the government can fund such entities or not. Suppliers will be also using such information to decide to supply further or not and mostly such information is very much useful for investors making investment for further growth of the entity. The net cash inflows for future projection are very important for potential investors as well for existing investors. The general information of an entity is required for the purpose of financial reports which will help to determine the future net cash inflows which will help creditors, lenders, investors, management, board of directors, etc. Financial reports used by management or board are always not useful to all stakeholders like existing and potential investors, lenders, creditors, etc as such reports will be presented to them by making it understandable to them. General purpose of financial reports is to provide all information to existing and potential investors, lenders, the creditors, management and governing board. All individual information seekers from a business have very different purposes (aasb, 2016). Main requirements prescribed by the amendment Economic resource and claims of an entity can help all users to find out the business entities financial strength and weaknesses and such information is very useful to determine the liquidity and solvency status of the entity. It also helps to determine if the entity is required to be financed additionally and if such finance is provided then the entity will prosper to what level and what way the finance will also arrive to the entity. Economic resources and claims determine future cash flows as a result of various outstanding like accounts receivable, etc. Different cash flows may come from several other resources to market and produce goods and services to various clients and customers. Financial performance determines the quantum of return an entity generates and such information is very much important to determine how the management faired to run the entity in the best possible manner. All details and information about the variability and return components will be required to be taken heed of (aasb, 2015). Financial performance is very much detailed by accrual accounting which is a reporting format for entitys economic resource enhancement. The effects of cash receipts and payments taking place in different periods are part of accrual accounting. Information about the entities about cash inflow and outflow, repayment of debt, general cash payments and dividends, repayment of debts and borrowed money determines the entitys operations, assessment of its liquidity, solvency and interpretation about financial performance. The consequential effects of the amendment The financial reports will furnish entitys economic information on its economic resources and conditions. The qualitative characteristics of useful financial information justify the types of information those are extremely useful to lenders, other creditors, existing and would be investors. A few financial reports included self explanatory material information which is just meant for management and board to take decisions for the future operations of the business. The financial information must be understandable, verifying, useful and present on right time and also comparable with previous similar periods for better analysis of the entire financial information provided in such reports for those particular entities (charteredaccountants, 2016). Faithful and relevant financial reports and statements are most important which are useful for taking decisions on the basis of values confirmed and predicted or anticipated. The anticipation value is used to look into the future of the entitys financial status and determines the future financial condition or say outcome of the financial impact in future. The reports should be faithful in nature which means that the reports can be error free, complete and correct or neutral. The reports should be absolutely transparent so that the management can be able to maximise the qualities achieved. Neutral report should be like unbiased reports without any partial inclination. Complete report means like reports with all basic data required understanding the entity correctly. Error free report means freeness from all possible unwanted errors. Thus Faithful report means exact report error free and perfectly accurate. References: aasb, 2009. Intangible Assets. [Online] Available at: https://www.aasb.gov.au/admin/file/content105/c9/AASB138_07-04_COMPjun09_07-09.pdf [30 Augustus 2016]. aasb, 2015. Conceptual Framework for Financial. [Online] www.aasb.gov.au Available at: https://www.aasb.gov.au/admin/file/content105/c9/ACCED264_06-15.pdf [30 Augustus 2016]. aasb, 2016. Conceptual framework. [Online] www.aasb.gov.au Available at: https://www.aasb.gov.au/Pronouncements/Conceptual-framework.aspx [30 Augustus 2016]. charteredaccountants, 2016. AASB 138 Intangible assets. [Online] Available at: https://www.charteredaccountants.com.au/Industry-Topics/Reporting/Australian-accounting-standards/Analysis-of-AASB-standards/AASB-138-Intangible-assets?standard= [30 Augustus 2016]. charteredaccountants, 2016. Conceptual framework. [Online] www.charteredaccountants.com.au Available at: https://www.charteredaccountants.com.au/Industry-Topics/Reporting/Current-issues/Conceptual-framework.aspx [30 Augustus 2016]. DellAtti, A. Pastorelli, E.S., 2006. ACCOUNTING FOR INTERNALLY GENERATED INTANGIBLE ASSETS ACCORDING TO AASB 138. [Online] www.academia.edu Available at: https://www.academia.edu/11781988/ACCOUNTING_FOR_INTERNALLY_GENERATED_INTANGIBLE_ASSETS_ACCORDING_TO_AASB_138 [30 Augustus 2016].