Urban Economics Assignment 1 - 802 Words

Urban Economics Assignment 1 Student Name: HAO LI Student Number: 997456097 Chapter 2 1. a) The gains from trade are +1 shirts for North and +1 shirts for South. b) A trading city won’t develop because the opportunity cost of exchange for North is 2 shirts, which exceeds the gross gain of 1 shirt. c) Suppose an innovation in transportation decrease the transaction time. A trading city will develop if the transaction time is less than 15 minutes because the opportunity cost of exchange is 1 shirt for the North and 1/4 shirt for South. 2. a) The labor used in transporting products from production sites to trading firms will decrease because the transmitter, with 0 MC, replaces with the wagons. b) The volume of trade in the region will†¦show more content†¦b) The stem of the martini glass is 1/4 loaf and the slope is 1/8 lad per mile, so the market area is 6 miles on each side because 1/4+6/8=1 c) The horizontal cost of home production is now at 1/2 loaf instead of 1 loaf. the market area is 2 miles on each side because 1/4+2/8=1/2. 11 a) Most breweries locate close to their customers because beer production is a weight-gaining activity because breweries add local water to other ingredients. Brewing is a market-oriented industry, so it locates close to its consumers to economize on transport cost. b) Most wineries locate close to their input sources because wine production is a weight-losing activity and the grapes are costly to transport because of the spoilage. Firms in the materials-oriented industry locate close to input suppliers to economize on transport cost. Chapter 3 2 a) In an isolated site, the wage is variable and the firm’s workforce is fixed because the supply of labor perfectly inelastic. b) In a cluster, the wage is fixed and the firm’s workforce is variable because the supply of labor is perfectly elastic. c) Number of Workers Number of Workers 3 a) 40 30 20 50 40 Number of workers 60 Number of workers b) During good time, the benefit of being in the cluster as opposed to being isolated is $550, compute as (40-30)* 50+(1/2)*(40-30)*10. c) During bad time, the benefit of being in the cluster as opposed to being isolated is $450, compute asShow MoreRelatedUsing Gmail With Screen Readers1685 Words   |  7 PagesGLENN Idle Arizona Slim Idle morganh1980@gmail.com Offline smithdesauguste@gmail.com 19549817123 5gw5k-4524026260@sale.craigslist.org 5wjnv-4786966687@sale.craigslist.org atreyu Darbonne, Anita Kosik, Alison mrhwilliam84@gmail.com More 1 of 8,368 Print all In new window Fw: draft Inbox x Danielle Johnson Attachments1:32 PM (39 minutes ago) to me Danielle R. Johnson Florida A M University, College of Law Juris Doctorate Candidate, 2016 On Tuesday, December 9, 2014 5:13 PMRead MoreEssay On Construction Management1057 Words   |  5 Pageswill ensure success in the program. Sustainability is becoming an ongoing trend in construction. This word in reference to construction means to be built sturdy while not depleting the environment around it. 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Personal Statement Why I Want to Be a Mechanical Engineer

My perception for Mechanical Engineering has always been of very high level. Very early from my childhood, I had the passion and enigma to become a successful mechanical engineer. My interest was further enhanced because of my Brother. He had graduated from a reputed university and now works as a senior engineer in a renowned company in the US, His talent, combined with uniqueness and exuberance is something that pushes me to prove myself and that bodes well with my passion for the subject. In my under graduation I’ve experienced the diversity of the stream. Obviously, laboratory’s the place where I could practically experience and implement whatever I learnt in theory classes. I did well in streams like Thermal and Automotive, yet my actual interest has always been in design, testing and production. One thing for sure is that, if the branch is as vast as an ocean, I am certain to have control over a few streams of it. 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Prons and Cons of Corporate Reporting free essay sample

We succinctly lay out arguments put forth both for and against the regulation of corporate disclosure and standard-setting. We then examine current developments suggesting that accounting standard-setting is at risk of becoming entangled in a web of political forces with potentially significant consequences. The crisis has brought into sharp focus the reality that the regulation of corporate reporting is just one piece of a larger regulatory configuration, and that forces are at play that would subjugate accounting standard-setting to broader regulatory demands.Recent actions by the European Commission relating to IFRS 9 and proposed legislation in the US Congress to create a systemic risk council serve to illustrate this point. We conclude by discussing in detail the recent fair value debate as a case study of the way in which bank regulatory policy and accounting standard-setting decisions were jointly determined as a potentially socially optimal means to mitigate the effects of th e financial crisis. We will write a custom essay sample on Prons and Cons of Corporate Reporting or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Keywords: regulation; corporate reporting; politics 1. IntroductionHistory attests to the influence of crisis and scandals as an impetus for regulatory intervention by politicians (Banner, 1997; Reinhart and Rogoff, 2008). After a series of scandals in the UK in the 1990s culminating in the collapse of Barings Bank, there was a dramatic shift in the structure of nnancial regulation that consolidated regulation responsibilities under the auspices of the Financial Services Authority. A wave of financial scandals epitomised by the Enron debacle catalysed swift and sweeping ciianges to US securities regulations with the passage of the Sarbanes Oxley Act of 2002.Today, in the aftermath of the financial crisis of 2007-2009, financial accounting standard-setting finds itself drawn into the orbit of complex political processes focused on restructuring the regulation of the worlds financial markets. The crisis has ignited woddwide debate on issues of systemic risk and the role played by fina ncial regulation in creating and exacerbating the crisis. Proposals abound for how regulation of financial markets and financial institutions should be changed to mitigate the potential †¢The authors are at Kenan-Flagler Business School, University of North Carolina. This paper has been prepared for presentation and discussion at the Information for Better Markets Conference, sponsored by the Institute of Chartered Accountants of England and Wales, 14-15 December 2009. We thank Dan Amiram, Mary Barth, Elieia Cowins, Martien Lubberink, Brian Singleton-Green and Steve Zeff for helpful comments. Correspondence should be addressed to: Professor Robert Bushman, Kenan-Flagler Business School, The Unversity of North Carolina, CB #3490, Chapel Hill, NC 27599-3490, USA. E-mail: [emailprotected] edu. for such large-scale financial meltdowns in the fixture.The scope of regulatory issues under debate spans many aspects of the financial system, including the alleged role played by financial accounting standards in deepening the trajectory of the crisis. The crisis has energised politicians, regulators, and economists to scrutinise financial accounting standards as never before, creating significant pressure for change (see, e. g. G-20, 2009). Given mounting momentum for potentially far reaching regulatory change, this is an opportune moment to step back and carefiilly consider how to organise the analysis of efticient regulatory choice.

Cost Accounting Traditional Costing System

Question: Discuss about the Cost Accountingfor Traditional Costing System. Answer: Introduction: It is the costing technique which is used to allocate all the cost in separate department. Costing technique helps in providing all the required information to top management department and bifurcate all the cost in its relative departments. In this report ABC costing technique has been taken into consideration for the effective management of costing process in traditional costing system. Traditional Costing System: It is the one of the old system which is used by companies to allocate the cost in different departments. This technique is used to evaluate the average cost of overhead. This approach helps in bifurcation of cost in different departments and provides direct and indirect cost to the particular costing departments and evaluates cost in separate department by using cost working hours and labor engaged. (Garrison et al, 2010). Activity Based Costing: It is also ABC costing which is used in all the production houses activities consisted with manufacturing of products. It is used to assign the cost to each and every activity of production departments as per the different nature of cost and other elements it is used to provide exact cost of production and cost per unit. This technique is used to allocate cost to different production department. It is helpful in reducing the cost of production by reducing error chances and mistakes in process system. (Rasiah, 2011). This ABC technique is completely different from its traditional costing approach. Key Differences Between Traditional Costing Approach and ABC Costing Design There are several differences between traditional costing approach and ABC costing design Traditional costing allocates the cost as per the allocated overhead cost and ABC technique allocates cost as per the nature of total cost. Traditional costing technique is not used for dept information to allocate cost in different department but use only nature for the production allocation cost (Kaplan Anderson, 2013). In Traditional costing technique it is simple to allocate cost as per the rules whereas, in ABC technique it becomes hard and complex Traditional costing technique is concerned with considering very few cost elements whereas, in ABC costing several elements are taken into consideration before allocating cost Advantages and disadvantages: Advantages: This technique is easy to evaluate and determine total production cost in effective manner. It consumes less time and cost in its productions department. It provides bifurcation in products and costing department for particular products Helps in increment in overall profitability of organizations. It evaluate non productive factors of costing house Disadvantages: It does not provide correct result Accompanied with several errors Less information is used in this technique (Weygandt, Kimmel Kieso, 2015). It is very challenging and complex Conclusion: Traditional costing technique and ABC costing both are important to organizations. However, in order to reduce the mistakes and errors in present Traditional costing technique companies use ABC technique in its working department for cost allocation. Now in the end it would be concluded that ABC technique is far better technique for allocation of cost in different department by organizations. References: Garrison, R. H., Noreen, E. W., Brewer, P. C., McGowan, A. (2010). Managerial accounting.Issues in Accounting Education,25(4), 792-793. Kaplan, R., Anderson, S. R. (2013).Time-driven activity-based costing: a simpler and more powerful path to higher profits. Harvard business press. Rasiah, D. (2011). Why Activity Based Costing (ABC) is still tagging behind the traditional costing in Malaysia?.Journal of Applied Finance and Banking,1(1), 83. Weygandt, J. J., Kimmel, P. D., Kieso, D. E. (2015).Financial Managerial Accounting. John Wiley Sons.