Jin Kim

Satisfactory Essays
Jin Kim, manager of Taejon City branch of Korea Auto Insurance in South Korea discovered that there was big problem in the headquarters' overhead cost allocation when he was preparing for the branch operation report.

Taejon was a rapidly growing city. with the hard work Kim, the Taejon branch raised insurance revenues. However, the net income of the Taejon branch was much lower than for the prior year. And this attributed to the inappropriate cost accounting systems.

For the underlying cause of applying this accounting method, it was believed that the Korean government imposed heavy regulation and over-protection over financial industry by providing specific operating guidelines. And the management of auto insurance company was therefore deprived of operating autonomy, tending to loosely adopt the simplest or least controversial methods.

Differences in the cost structure of each branch were not considered in the process. Consequently, some branched were allocated a large portion of overhead, but they actually did not benefited much from headquarters' resources. This costing method also led to penalization to expansion of branch, resulting in lower net income.

To solve this problem, Kim prepared a more relevant and accurate operating report based on an alternative overhead allocation method that used more appropriate cost drivers that current revenue amount.

Jin Kim, manager of Taejon City branch of Korea Auto Insurance in South Korea discovered that there was big problem in the headquarters' overhead cost allocation when he was preparing for the branch operation report.

Taejon was a rapidly growing city. with the hard work Kim, the Taejon branch raised insurance revenues. However, the net income of the Taejon branch was much lower than for the prior year. And this attributed to the inappropriate cost accounting systems.

For the underlying cause of applying this accounting method, it was believed that the Korean government imposed heavy

You May Also Find These Documents Helpful

  • Good Essays

    Kim Kim

    • 914 Words
    • 4 Pages

    What is the difference between motivators and hygiene factors and motivators? Answer: Hygiene factors are the factors which should provided to any employee and they are the primary ones in order to fulfill their needs. They are very necessary so that the employee is able to obtain the other needs in his or her being. These are the factors which can be also regarded to as those of physiological needs in Abraham Maslow's hierachy of needs. On the other hand, motivational factors are those factors…

    • 914 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Ha Jin

    • 850 Words
    • 4 Pages

    Ha Jin is a contemporary Chinese author and poet who grew up in China during the Cultural Revolution and has written many books of short story collections. “The Bane of the Internet” is fairly new and part of a collections of stories published in his 2009 book “A Good Fall”. Characters like the eldest sister in “The Bane of the Internet”, immigration to the land of opportunities shows the loss and gain of her life. Jin created the character of the eldest sister to dramatize the lives of the Chinese…

    • 850 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Manchu-ruled Qing Dynasty and to restore the Han Chinese rule in China. In 1955, Jin Yong published his first Wuxia novel in Hong Kong; it called “The Book and the Sword”. Which talks about during the rule of Qianlong Emperor, a secret society called The Red Flower Society which was trying to overthrow the Dynasty (The Book and the Swords, 2010). Jin Yong used a method called cultural nationalism to write this novel; in this story, Jin Yong expresses the cultural nationalism in four ways: Martial Arts, Imperial…

    • 1133 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Kim Kardashin

    • 1150 Words
    • 5 Pages

    Reality TV Star Romantic Life Quotes "Your reputation is all that you have, and if people prejudge you over something that you did, than that kind of sticks with you a long time." – Kim Kardashian Growing Up in Beverly Hills Born October 21, 1980, in Beverly Hills, California, Kim Noel Kardashian is a model, reality television star, entrepreneur and socialite. She is the second of four children born to the late Robert Kardashian and his first wife, Kris. In recent years, the…

    • 1150 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    amazing idea to start the book off with such powerful words. Ha Jin included this as an important inspiration for the character Shao Bin. It leads him to speak out against the unjust ways of his supervisors. “As an artist and scholar I ought to expose those corrupt leaders… A good piece of work should be as lethal as a dagger to evildoers.” These words fuel Bin throughout the entire novel. They are the match that lights the flame. Jin tactfully placed them in the beginning as a form of foreshadowing…

    • 1913 Words
    • 8 Pages
    Powerful Essays
  • Good Essays

    The Kim Dynasty

    • 239 Words
    • 1 Page

    the unrelenting rule of Kim Jon-Un the voice of the North Korean people has been significantly silenced. The freedom of speech is virtually non-existent in North Korea, and what the people are exposed to by foreign media is strictly regulated. For decades the Kim dynasty has controlled what the North Korean see, hear, and say, and that control has allowed North Korea to continually oppress its people. The Kim dynasty has led a very oppressive regime ever since Kim II-Sung took position as…

    • 239 Words
    • 1 Page
    Good Essays
  • Good Essays

    Kim Kiduk

    • 742 Words
    • 3 Pages

    Kim Ki-duk is one of the most controversial but also well-known directors of the Korean New Wave, whose films have received accolades at almost every major international film festival from Cannes to Berlin to Venice. According to the Korean Film Council, more requests for help with Kim Ki-duk retrospectives are being sent in every year than for all other Korean cinema projects put together. However, while Kim's pictures continue earning him critical acclaim overseas, South Korean audiences are less…

    • 742 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Bridegroom Ha Jin

    • 714 Words
    • 3 Pages

    of unpleasant used by homosexuals. On other hand, we know Eastern culture is different from the Western one on society and people understandably. In the Asian countries often society effects on the way people thinking. The Bridegroom written by Ha Jin is a good example for the Western readers who have chance to take a journey back to contemporary China by showing conflicts between the value of the society and individual preference. The story starts off with the narrator by Old Cheng; He’s telling…

    • 714 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Ha Jin The Saboteur

    • 692 Words
    • 3 Pages

    the concept of revenge clearly and effectively. “Mr. Chiu and his bride were having lunch in the square before Muji Train Station” (Jin 179). The young couple had taken a trip to Muji on their honeymoon and were about to head home on the train. “[Mr. Chiu] was glad that the honeymoon was finally over and that he and his bride were heading back for Harbin” (Jin 179). He also stated his joy for avoiding and conquering a long battle with hepatitis during the trip. Mr.…

    • 692 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Ha Jin – The Bridegroom

    • 1157 Words
    • 5 Pages

    Ha Jin – The Bridegroom Described as utopian in nature, the Chinese culture is often in pursuit for the perfect individual, a harmonious and structured society where the citizens as a whole create the ideal culture. In a collection of short stories entitled The Bridegroom, author Ha Jin documents this aspect of reality in homeland China. Primarily for the purposes of instruction and satirical verse, Ha Jin, shows how people are trying to find themselves in a society that focuses on the ‘whole’…

    • 1157 Words
    • 5 Pages
    Good Essays