=GH¢ 60‚000 (Implicit cost) TOTAL ECONOMIC COST =Total explicit cost +Total Implicit cost =1‚586‚000 + 60‚000 =GH¢1‚646‚000 B. ACCOUNTING PROFIT The Accountant takes into consideration explicit costs but does not take into consideration implicit costs: PROFIT=TOTAL REVENUE- TOTAL COST Total Revenue=GH¢1‚940‚000 Total Explicit cost=GH¢1‚586‚000 Accounting profit=Total Revenue - Total Explicit cost =1‚940‚000- 1‚586‚000 =GH¢ 354‚000 C. ECONOMIC PROFIT The Economist takes into consideration
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Discuss the relationship between entrepreneurship‚ innovation and economic development. What role do creativity and problem solving play in this relationship? Refer to both theory and examples from the business world to support your discussion. Date of submission: 26 November 2010 Name: Chen Wanxin School: the University of Nottingham‚ Ningbo‚ China Module convenor’s name: Maris Farquharson Module title: Entrepreneurship and Business Module code: P11440 (2010) Length: 1885 words Entrepreneurship
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ACT 5733 – Advanced Managerial Accounting Fall 2012 HW #3 Question #1 Consider the following potential investment‚ which has the same risk as the firm’s other projects: Time Cash Flow 0 -$95‚000 1 $20‚000 2 $24‚000 3 $24‚000 4 $24‚000 5 $24‚000 6 $32‚000 a) What are the investment’s payback period‚ IRR‚ and NPV‚ assuming the firm’s WACC is 10%. b) If the firm requires a payback period of less than 5 years‚ should this project be accepted? Answer: Yes it should accept
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Chapter 5: DISCIPLINE 1. Definition. a. According to the dictionary‚ discipline is: 1. Training that is expected to produce a specific character or pattern of behavior‚ especially training that produces moral or mental improvement. 2. Controlled behavior resulting from disciplinary training. 3. A systematic method to obtain obedience. 4. A state of order based upon submission to rules and authority. 5. To train by instruction and control. b. Discipline is a learned behavior. It is much more than
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The financial activities regard running a corporation. In other words‚ Corporate Finance is mainly concerned with maximizing shareholder value through long-term as well as short-term financial planning along with the implementation of different strategies. Thus‚ this includes everything from capital investment decisions to investment banking falls under the domain of corporate finance. On the other hand‚ the shareholders own a corporation or you could say corporations are owned by its stockholders
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Discipline means abiding by‚ or adhering to‚ certain rules or norms of social life. Discipline is what a person imposes on himself taking it as his duty to God‚ to society‚ or to some other institution. It remands a strict control over an individual’s rights and privilege‚ which if allowed swelling uncurbed and unregulated may result in disorder and anarchy in social and political life of a country. Discipline is vital to a successful life. Without discipline army is reduced to a disordered mob
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Discipline Leadership Responsibilities and Duties Importance to the Military Discipline: Training that corrects‚ molds or perfects the mental facilities or moral character; the discipline to a superior authority. [Defined by Webster]. Discipline to me means that you are capable of accepting the norms. You respect the commands given from a higher authority or the leader in charge. Training your mind to think in a routine way of life‚ being able to accept the responsibilities of what you do
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Determination vs. Discipline In the game of sports determination and discipline are the two key factors needed in order to succeed aside from team work. "The price of success is hard work‚ dedication to the job at hand‚ and the determination that whether we win or lose‚ we have applied the best of ourselves to the task at hand." Vince Lombardi. The world of athletics is filled with countless aspects and which the two strongest and most meaningful are determination and discipline. “The difference
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The word discipline connotes a negative image of a strict caregiver enforcing rules upon a child to instill order. It gives one the impression that discipline has to be exerted forcefully upon a person. This differs greatly from the Montessori perspective of discipline being created from within a child rather then being imposed from the outside. Discipline rises naturally within a child when s/he is given freedom within limits. Montessori says that freedom in intellectual work is found to be the
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PSYC 2301. Introduction to Psychology Paper #1 " Parenting- How To Discipline A Child " Assignment: Parenting- How To Discipline A Child Raising a child is never easy. However‚ what is the most appropriate way of raising a child? Experts and researchers in the field of parenting hold many diverse opinions and perspectives on this issue. The definition of what is the "most appropriate" method or style of discipline continues to be debated. Your assignment is to research and write about one
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