What You Dont Know About Term Paper Writing Might Shock You

What You Don't Know About Term Paper Writing Might Shock You Term Paper Writing - Is it a Scam? What you have to do is to fill out the purchase form, make a payment, and in a couple minutes, you'll get your individual essay helper. Such research can take a great deal of time and energy, which isn't always possible, particularly if your deadline is right around the corner and you need to receive your work done whenever possible. When you're assigned a term paper in nearly every course you take, and the majority of them are due within the exact same timeframe (usually at the conclusion of a semester), you're facing a tremendous burden at precisely the same time that you're attempting to begin your reviews for either mid-terms of finals. After all, should you not get your term paper delivered on time you are only wasting your money and you'll get a poor grade for not turning in your assignment in time. 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Is Abortion A Criminal Act Or Not - 936 Words

Is abortion a criminal act or not? Is abortion a criminal act or not, it depends entirely on the laws of each country regulations, countries have national prohibition and permission. However, it is permissible to be understood that abortion must be done at the medical facility and have a valid state license, rather than have an abortion right in anywhere and by any way. Question title of this article: Abortion is still a crime? not to target the legal aspects of the problem of abortion, which is the moral aspect, the moral. Said the law cannot allow abortion, but conscience and human morality always said that demolished a fetus is an act of destroying life, was an act of murder. A fetus when the mother figurative heart has a human and†¦show more content†¦The casually kill and throw away the corpse with cold blood that made people accidentally witness be stunned. The number of such cases keep increasing constantly, makes many people cannot help wondering about the moral decadence of society. Tiger could not bear to eat their own child is saying how life ethic has been handed down in the time to talk about the heart of the mother. The image of monkey fighting back fiercely the hawk to protect their little baby is a beautiful and sacred images of the love from parents, went to the heart of people through generations. Yet, now they seem to have been quite a lot of people forget when they behave far below both the animal. There is a paradox that the more civilized society, the more science advances, the life is improved, people more casually than in the cancellation of the life of the fetus. Always have plenty of reasons to be cited to justify every crime that is produced on this earth, but to kill the fetus, there is one thing the killer indisputable: They did not see the fetus other children are human. Inhuman way of thinking and life against it is clearly the result of alienation of the human way of life and the erosion of human conscience. How can it be acceptable to enhance the quality of life of individuals by elimination of the life of another human being! Fetus is human? Clearly, the heartless destruction fetus

Free Sample for Analysis of Etisalat Strategies

Question: Discuss about theEtisalat Strategic Analysis. Answer: Company Description Historically, Etisalat or Emirates Telecommunication Corporation was founded as a joint-stock between a British company, International Aeradio Limited and local partners in 1976. Later, the companys ownership structure changed when the United Arab Emirates acquired 60% ownership and the remaining percentage traded to the public. The corporations privileges to offer wireless and wired services across UAE region was granted by central government through the Federal law No. 1 in 1991. The Law also allowed the company to issue licenses for importing, owning, and operating or manufacturing telecommunication equipment making it a telecom giant in the region (ETISALAT, 2016). The law which was aimed at facilitating countrys economic growth provided a platform for telecommunication progress across UAE region. As a result, the corporations network progress and intensification improved trade lines in the region from 36,000 to 737,000 1976 to 1998. Etisalats growth is evident in January 2001 when it extended its operations to the global market. Under brand name Ufone, Etisalat entered markets outside Islamabad offering mobile services. By 2011 the company was ranked 140th among the Top 500 Global Corporations by Financial Times regarding market capitalization (ETISALAT, 2016). Furthermore, it was ranked the sixth largest company by Middle East Magazine regarding revenue and capitalization. Additionally, the corporation was considered the major provider of growth programs in the United Arab Emirates besides oil sector. The Corporation has played an important role as a major business hub in UAE for more than forty years. It is also among the pioneers of the international telecommunication trade supporting the region into new top innovations especially in the technology sector. For instance, the company made UAE appear among the first five five countries to own 3D television service in the globe (ETISALAT, 2016). The corporation has also become the pacesetters of the next generation networks for both fiber optic cables and wireless services. Etisalat is also in the process of launching 4G LTE network in UAE and Saudi Arabia. Apparently, the company owns the fastest broadband and fixed-line network at a speed of 30mbps in the Middle East. Its broadband services are also considered one of the most efficient and fastest globally with speeds of about 300Mbps. Etisalat has high and effective technological expertise which has enabled it to capture substantial market share extending across UAE. It also has a huge presence in Egypt and Saudi Arabia where it has acquired more markets due to markets dynamics resulting from the introduction of broadband services and internet access and mobile television. In addition to its wide market, the company has been recognized as the best wholesale provider four times in a row and the best operator in the region since 2006 (ETISALAT, 2016). Due to its remarkable performance, Etisalat has won numerous accolades for best brand and the best customer service among others in the region. Porters Five Forces Analysis Threats of New Entrants It is safe to argue that the biggest barrier to entry in the capital-intensive telecom industry is access to finance. Serious contenders usually require a large amount of capital to cover the high fixed cost. However, if capital markets including the banks are generous, the threat resulting from competition posed by new entrants increases. Nonetheless, the rate of entry into the industry is relatively low when there are less financial opportunities for potential investors (LUFTMAN, 1993). Meanwhile, owning a telecom license especially in the region can bar new entrants. For example, in countries like Pakistan, there is a small amount of good radio spectrum lending itself to data applications and mobile voice. Moreover, there is scarce solid management experience and operating skills which may make entry more difficult. Power of Suppliers Considerably, suppliers of telecom equipment have substantial bargaining power over operators. This is because operators would not be able to transmit data and voice without switching equipment, mobile handset, fiber-optic cables and billing software. However, there are numerous equipment makers or supplier around the globe including Cisco, Nortel, Lucent, Alcatel, Nokia, Tellabs and Ericsson among others. Additionally, there are enough vendors in the business to dilute bargaining power thus giving operators an upper hand. Nonetheless, the industry is faced with the limited number or talented engineers and managers well versed in new technologies, and this minimizes the companies ability to hire and offer competitive salaries (LUFTMAN, 1993). In a nutshell, Supplier power is controlled by the fact that there are many manufacturers around the world, therefore, giving telecom operators many options to choose from. Power of Buyers There is increased the choice of telecom products and services hence increased bargaining power for buyers. The emergence of competitors in the UAE region offer disparate data and telephone services presenting buyers with various options (ANONYMOUS, 2010). Nevertheless, the variance of data and telephone services from one company to another is not much. This is because most telecom companies treat the basic services as a commodity. Therefore, most customers tend to go for low price services rather than reliable services. However, the power of a buyer can also vary based on different market segments. For example, residential telecom customers have low switching cost whereas they can be higher for the enterprise of large business customers such as those relying on customized services and products. Availability of Substitutes There has been the emergence of numerous non-traditional telecom industries which pose substitution threat. Satellite operators and Cable TV are now competing for buyers. Cable TVs have direct lines to peoples homes providing broadband internet services. Moreover, satellite links offer high-speed internet access suitable for large enterprises hence may substitute the traditional telecom industry. New players in the market also include energy utility companies and railways who have laid miles of large telecom networks along the tracks as well as the pipeline assets. As a result creation of high-speed Internet poses significant substitute to telecom operators as it is being used for cut-rate voice calls. Internet telephone which is being offered by the new industries could snatch buyers from the traditional telecom companies thus limiting revenue. Similarly, the introduction of internet-based messaging services like whatsApp has also eaten up a portion of revenue earned by the traditional telecom companies (UAE, 2011). Such like application which relies on the internet to ensure instant messaging have reduced the use of traditional expensive messaging. However, it can also be argued that the traditional telecom companies have a stake in internet provision and hence for such applications. Nonetheless, that does not guarantee a hundred percent revenue realization since non-traditional satellite operators and Cable TV have a share in internet provision. Competitive Rivalry Competition, especially in the UAE region, is a cut throat. This is attributed to the receptive capital market in the region as well the industrial deregulation that occurred during the late 2000s (UAE, 2011).It gave way for new entrants to rush in and occupy part of the market which was initially controlled by the giant Etisalat. Additionally, the emergence of new technologies has also led to the development of substitute services which rival those provided by Etisalat. Currently, almost everybody in the region pays for phone services; it is thus upon the providers to attract customers through quality services and low prices. As a result, price wars lead to the decline in industry profitability. Alongside reduced profits, the industry has high exit barriers because of its specialized equipment. The broadcasting and switching equipment are not easy to transfer from one location to another making it difficult exit a particular market for another. Swot Analysis Etisalat Telecommunications enjoys a healthy position. The company has significant strengths that balance out its weaknesses. There is fast growing the need for internet and services in the region presenting great market opportunities. On the other hand, the company also faces an immense competitive threat as new competitors are joining the market whereas key competitors are scrambling for new opportunities. Strengths The first strength of Etisalat telecommunications is its control for almost all aspects of telecommunication services. It thus limits both local and foreign investment in Internet gateways as well as telecommunications. Being the main service provider in UAE gives Etisalat the monopoly advantage where it controls various major resources in telecommunication thus barring potential entrants. Secondly, UAE consists of small population and country which makes it easy for deploying latest telecommunication infrastructure. Installation of telecommunication infrastructure on a smaller region is also cost effective due to reduced coverage area. It is easier to serve a small concentrated population compared to scattered one since network signal broadcasting would be utilized effectively. Third, Etisalat has received overwhelming support from the governed through heavy investments in the industry infrastructure. Furthermore, the government has set up policies aimed at allowing foreign technolo gy firms into UAEs free trade zones like Jebel Ali and Dubai Internet City free trade zones (AL ANSARI, 2009). This will enable the region to diversify further in by adopting new telecommunication technologies hence boosting Etisalat services. Access to new technology infrastructures would also help the company gain a competitive advantage against its substitutes aiming to rely on superior technology to oust them. The company does provide customer training services which may escalate its expenses further. However, the introduction of Internet services has made some operations complicated forcing the company to formulate ways of making it customer friendly. Such plans could help train its users on the usage of Internet services without having to incur further lose on direct customer training. Furthermore, providing user-friendly systems would give the company a competitive edge against its close competitors. This is because it would improve the quality of service provision above its competitors which is preferred by most customers. Etisalat telecommunications is capable of attracting and retain highly qualified and competent sales, technical, financial, marketing and management personnel to satisfy its growth challenges (ETISALAT, 2016). The company has gained an effective reputation in the region and is thus able to attract and train potential personnel to catapult its growth. Additionally, it also has a reputation for effective compensation programs which may enable it to attract the best technical team in the industry both in the region and globally. The company has an efficient product roadmap to facilitate its development and growth through the creation of new functionalities (ETISALAT, 2016). Etisalats comprehensive product roadmap can also enable it to improve the existing system modules to satisfy customer expectations. For instance, the companys investment on broadband internet services such as the introduction of 4G can enable it to stay afloat in the industry. High-speed internet through 4G will help the company compete with others in the provision of internet telephone an area that is being explored by most ISP companies in the region. Furthermore, the company is planning on investing in cloud storage as well as web hosting. This would enable it to attract large enterprises looking to invest in cloud storage. Hosting services are widely used by both individuals and firms looking to host their content online like websites. This would enable the company to attract or grab more customers from the existing companies offering the same services. Such lucrative product roadmap would enable the company increase its profitability and expand further to other countries. Weaknesses Etisalat is suffering from modernization or under development in the UAE region. For some areas such as Ajman, Al-Khaimah, Umm al Qaywayn and Al Fujairah internet access is still considered expensive and unaffordable to many (AL ANSARI, 2009). However, other modernized administrative emirate such Dubai, Sharjah, and Abu Dhabi can afford modern technologies and form a substantial portion of its customers. Nonetheless, unless the modernization gap is filled, the company would not be able to realize the maximum benefit and profitability. Additionally, there is stiff competition in the modernized areas where international companies have joined to offer substitute products and services thus limiting its customer base. Opportunities Etisalat telecommunications enjoys a sound reputation for its service efficiency and high technology both locally and internationally. It, therefore, has an upper hand regarding oversea investment. Additionally, the company has received generous financial support from financial institutions and banks. The banks are ready to finance its strategies on international expansion hence increasing its opportunities to explore the global market. Threats Apparently, there is strong growing competition in the industry in UAE. Other companies have invested in more comprehensive customer care services to boost their service quality, and this is expected to increase even more in the coming future. Alongside stiff competition from independent service providers, it also competes with system integrators as well as the internal billing departments serving various telecommunication carriers (LUFTMAN, 1993). System integrators have been able to improve Etisalats services beyond the traditional ones thus attracting more buyers. The telecommunication industry expects increased competition due to continued growth creating opportunities for new potential entrants. As the telecommunication industry grows most, investors are expected to join the market with more competitive products and services. The three developed regions such as Abu Dhabi, Sharjah and Dubai have attracted international market with many people flowing from different parts of the world for business (UAE, 2011). Therefore, the region is experiencing an increase in general population which converts to market. De-regulation of the trade policies in the region has also contributed to increasing flow of businesses in the industry thus creating cut throat competition. There has been an increase in third party relationships consisting of numerous system integrators and consulting firms to improve marketing, customer support and sales. However, such relationship is beneficial to the company through lead generation and handling of joint sales and marketing efforts to create new business opportunities. Therefore, failure to create such relationships would hinder the companys ability to meet target sales growth. Total excoriation of the market also poses a threat to the growth of the industry due to scattered population as compared to investment in infrastructure. Global Expansion Telecommunications has become a significant part of economic, social, and political factors of the world. The main advances witnessed in technology have enhanced the range of services offered by network substantially. The introduction of technologies such as satellites, optical cable links, microwave radio, transmission and digital switching have boosted network quality as well as extending access to remote places (LUFTMAN, 1993). This has made the world a fully integrated information network allowing the flow of information from one point another. Moreover, there is an increase in the rate of technological change with increasing magnitude of local and global demand. In the future, creativity will have to adapt to increased demand for more than just superior technology. Customers will demand the need to have full control over their lives and access to easily affordable information. Additionally, alongside seeking for technologies that would enable them to stay competitive and product ive, businesses will also demand technologies that would give them a return on investment. Being among the worlds best telecommunication industries, Etisalat is well-placed to satisfy these needs and meet the challenges (ETISALAT, 2016). According to the 2004 public relation press, the company promised to continue contributing to providing assistance, guiding and creating cost-effective services to satisfy varied needs of both domestic and international customers. The company is currently introducing new services tailored to meet customers dynamic need as they upgrade the existing ones regularly. Such improvements and much more are aimed at enabling their customers improve and streamline their communication needs, compete globally and stay productive. The company is also working on compensating the loss of local market by expanding the international market. PestelAnalysis This analysis examines the companys political, economic, social, technological, environmental and legal factors. Political Sector It is important to consider legal or political factors in strategy formulation for the success of a company. It is evident that Etisalat since its initiation stage has observed business ethics and headed to legal issues in all its actions. The company makes sure that their services are useful regarding their social responsibilities. Politically, the company has been helpful to the society by supporting numerous technological and science advancements in the region (ETISALAT, 2016). Economic Sector Etisalat exudes continuous economic growth rate every year. The company has established economic stability through innovation of its services to continue serving individuals and corporate sectors both locally and globally. Sociocultural Sector Culture has played an important role in dictating market features and is thus crucial in understanding an industry. This is because a company needs a general set of believing on the influence of culture on its failure or success to operate effectively. Etisalat thus ensures that the opinions of its employees are considered regardless of their nationality. As an international expansion strategy, the company has employees from different cultures which help in decision making (ETISALAT, 2016). Moreover, the companys international managers have developed a positive relationship with the local managers to help in decision making as well as business operations. Technology Sector Technology has been a crucial factor in achieving business success through enhanced effectiveness, efficiency, competitiveness as well as the development of innovative applications. Historically, Etisalat has invested in high-quality technology to meet customers demands in communications (ANONYMOUS, 2010). The company also carries out regular monitoring of its physical resources to maintain efficiency and hence improve its position in the industry. Challenges and Recommendations Etisalat faces numerous challenges that require proper formulation and implementation of strategies. One of the major challenges facing the company is its contrasting response process to changes. There have been numerous industrial changes which have created opportunities to be taken by new companies. For example, the shift to internet telephone through audio and video calls has greatly changed the industry with increasing demand for high-speed internet connection (UAE, 2011). The demand for high-speed internet connection has grown from individual to corporate use creating a market void. Quick integration to the provision of the fast internet has been a challenge to the company especially due to strong competition from other contenders. One solution to such challenges would be the development of strategic alliances with both local and global suppliers to enhance the integration process. Acquiring state-of-the-art technologies especially in internet provision would enable the company to adapt to the increasing demand. Secondly, to explore international market, the company should alter its strategic direction with the aim of including changes in new management approaches. This will enable it to profile different target markets regarding demands and preferences. Besides, it should develop a human resource management strategy that will enable it to enhance communication, efficiency, team building and productivity. References List ETISALA. (2016).About Us. [Online] Accessed: July 7, 2016. Available at https://www.etisalat.ae/index.jsp?lang=entype=channelcurrentid=a79a8e621187b010VgnVCM1000000c24a8c0____parentid=ed38800d1f52a010VgnVCM1000000a0a0a0a LUFTMAN, J.N.; LEWIS, P.R; OLDACH, S.H. (1993). Transforming the Enterprise: The alignment of Business and Information Technology Strategies.IBM Systems Journal32(1): 198-221. AL ANSARI, M. S. O., (2009). High Performance Teams in the UAE: a Case Study in Etisalat. Dubai. ANONYMOUS, (2010). Etisalat focuses on enabling UAE enterprises leverage growth opportunities through ICT. Al Bawaba. ETISALAT: Company Profile. [Online] Available at https://www.etisalat.ae/en/aboutus/ etisalatcorporation/corporation/profile/company-profile.jsp [Accessed 7th July. 2016]. Strategic Management Approaches for Managing change. [Online] Available at https:// www. ukessays.com/essays/management/strategic-management-approaches-for-managing-change-management-essay.php [Accessed 7th July 2016]. UNITED ARAB EMIRATES: (2011). Etisalat Launches the Third Cohort of the Future Leaders Programme in Etisalat Academy to Empower UAE National Skills and Develop their Capabilities. MENA Report.

Termpaper on Joint product costing Essay Example

Termpaper on Joint product costing Essay A new paradigm has been emerged in the present industrial sector where a manufacturing organization uses a single process to produce more than one product. This paradigm adds complexity in the simultaneous production of more than one product from a Joint process. Their determination at the cost of such products, individually, hence posses a difficult task to the cost accountant especially because they are of such varied nature characterized by many varieties. Despite difficulty it is possibly essential to make a fair and equitable allocation of cost to each product nice this is critically important not only for stock valuation and income determination but also increasingly for assessment of excise duty, transfer pricing etc, and also for divisional profitability etc. This study concentrates to explore the area not so much conceptually, but more as a practical guide to illustrate some of the methods adopted in practice by the manufactures. We will write a custom essay sample on Termpaper on Joint product costing specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Termpaper on Joint product costing specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Termpaper on Joint product costing specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The methods fall under two broad categories a) Market value basis and b) Physical measurement basis. The market value basis adopts the accepted cost concept of what the product can bear while the physical measurement basis is based on physical measures as weight, illume etc. Literature survey has highlighted certain other methods as techno commercial factor evaluation basis and input based cost driver basis. Robert Kaplan and Antonym Atkinson have given an illustration as how the Joint and by-products costing method can be used as a tool in the resource allocation process. The paper aims to generate further discussion, with illustration from more industries to help formulate proper guidelines on this complex issue of Joint and by-product costing. 2. 0: Acknowledgement Going through various sources of information we arrived at the generally accepted cost accounting practices where the vital inputs on concepts along with practical examples were compiled from the articles and textbooks of reputed authors as stated in the references. We are grateful to Tanzania Hues, Assistant Professor, department of Accounting Information Systems, who germinated the idea of bringing out such a special paper on Joint Product and By-product Costing. We would like to convey our heartiest gratitude to the entire information provider for their valuable suggestions, information and contributions that have helped us much in preparing this report. 3. : Origin of the report In case of identifying, allocating and apportioning common costs to several products or output services the multi-product or multi-process and multi service industries always face an uncertainty. The final product or service cost will reflect the full cost only if these common costs are allocated or apportioned in some way to the individual final product. In the case of process industries, where the process flow is common up to a stage and then segregates into two or more process lines to produce more than one product then the problem of allocation or apportionment of common r Joint cost becomes significant. The essence of Joint product or by-product costing lays in the allocation or apportionment of Joint processing cost to the individual products in as equitable a manner as possible. Although the allocation or apportionment of Joint costs to determine the full cost of individual products may not be of much help from the point of view of management decision-making, it is very much essential for external financial reporting, reporting under various statutory requirements, valuation for tax legislation and also for valuation of inventories for horn period profit determination. The phenomenon of a production process, producing simultaneously, more than one product could be observed in a wide variety of industries, For example: Coal mining washing and Coke production resulting in the production of Coal, Coke, Gas, Tar and Ammonia. Petroleum refining resulting in the production of Petrol, Kerosene, Diesel, Furnace oil etc. In this industry a very large number of Joint and byproducts occur in cracking or refining crude oil. Agricultural Product industries such as vegetable oil crushing of oil seeds resulting in production of oil and cake. From the process of refining oil, soap stock arises which could be further processed into soap and allied products. In Milk industry, the three joint products are Cream, Liquid Milk and Skim. The cream is again processed into Butter and ghee. The liquid milk and skim is processed to produce whole milk, full cream milk and standard milk. 3. : Purpose of the report The objectives of this term paper is to identify the principles to be followed in the recognition of products as Joint product or by-products and to prescribe some generally accepted methods to determine more accurate and reliable cost of ND uniform basis to provide better transparency in the ascertaining the cost of Joint and by-products. The ascertainment of the cost of Joint products and by-product can be used for the following purposes: (I) Uniform basis of Valuation of manufactured products, Work -in-pro cess and intermediate products. For assessment of excise duty and other value based taxes relating to Joint products and by-products. (iii) Assessment of value of specific products under various measures such as anti- dumping, transfer pricing etc. , (v) Determining the value and responding to regulatory authorities for Joint products or services. V) Measuring product performance and internal reporting for segment profitability. 3. 3: Methodology: In order to prepare this term paper we have applied our classroom knowledge as well as taken help from different writers books preferably from the book of Cost Accounting by Charles T. Horned et al. This term paper also comprises the combined effort of all group members. We have tried to present the concept of Joint production cost in variety of organizational situation and how this cost can be allocated to different products from the Joint production process. Along with Joint cost ND its allocation we have also tried to present how the by product from a production process can be recognized and presented in the financial statements specially in the income statement of the company. 3. 4: Limitation of the Paper The report may encounter the shortcomings due to the following reasons: Lack of practical knowledge to link up with theories. Probability of skipping any material items. Dependency on the secondary information. Time constraints 3. 5: Terminology used in the term paper Joint-products: Two or more product that have high total sales value compared with he total sales values of other products yielded by Joint production process (Horned) or in other words -Two or more products separated in the course of processing, each having a sufficiently high sellable value to merit recognition as a main product. Example: Ethylene and Propylene arising from the cracking of Naphtha. By-product: A product, which is secondary to the main product and obtained during the course of manufacture of recognized main product. It is called a by-product because of the relatively lower importance it has as compared with the main product or products. By-product cost is commonly regarded as difficult to determine. By-product is usually subjected to further processing after separation from the main product, if such processing will increase the value added or promote the sale of the main product. For example, in a Petroleum Refinery, gas was earlier considered as a by-product. Now, it has assumed importance like petrol, diesel, etc. And it is being treated as a Joint product. Scrap: Residual material left over when making a product. Waste: Discarded substances having no significant value (as distinct from scrap)- ECMA. Joint Cost: Joint cost are defined as common cost of facilities or services employed in the output of two or more simultaneously produced or otherwise closely related operations, commodities or service. Split off point: The point in the common production process at which the separate products are identifiable. There may be process and the total numbers of products that emerge from the process. 4. 0: Body of the report 4. 1: The nature of Joint Product 4. 1. 1 . Fixed and variable proportions Although Joint products have a definite quantitative relationship to each other, this relationship may take different forms. The nature of the Joint products output can either be in fixed or variable proportions. The relationship between the products is fixed if an increase in the output of one product of a group results in a proportionate increase in the output of the other products. In contrast, if the increase in output of one product results in either a decrease or has no effect on the output of one or more of the remaining products then the relationship between the outputs is one of variable proportions. This variation in output proportions may only be controlled within certain limits and only arises in certain processes. 4. 1. 2. Intermediate and final products: Joint products arise from a common process or series of processes, the latter giving rise to intermediate products. Intermediate products can be defined as those products to be further treated and processed to produce main product, where the main products in a multi-purpose operation may take the form of intermediate products at a certain stages of production and finished products at the final stage of production. 4. 1. 3. Joint and Separation costs: The fundamental feature of Joint product is that they incur Joint cost up to a certain stage of production, known as the split off point, where they become recognizable as operate products. The costs incurred in the Joint process cannot be separately traced to the individual product output Subsequent to the split-off point any cost incurred e. G. The additional processing costs, can be identified with specific products and may be termed separable or attributable cost. For a cost to be separable, it must be possible to trace it with reasonable certainty to a single product. 4. 2. Joint Product By-product costing principles 4. 2. 1 . There are two basic approaches to costing of Joint product and by-products, which are given below: Joint Product Approach: Under this approach, more than one reduce is treated as Joint product and the Joint processing costs are allocated between the products on an appropriate basis. Main Product / By-product Approach: Under this approach, only one product will be given the status of a main product and all other products arising from the process will be treated as by-products. In this method, the Joint costs are not allocated between the products instead; the net revenue (sales value less further processing expenses, selling expenses, etc. F any) generated from the products is credited to the Joint costs and the remaining Joint cost is totally absorbed by the main product. . 2. 2. Recognition off product as Joint product or by-product: There are no hard and fast rules to determine whether a product is a Joint product or by-product. Normally, products which are incidental to the produc tion of main products and products which are insignificant in value product changes from by-product to main product or vice versa due to a number of factors like changes in market price, competition, demand or technology may suggest a re-classification. Therefore, the classification between the main product and by- product has to be reviewed continuously. 4. 2. 3. Identification of Joint and By- Products: Recognition of Joint products and by-products is purely by relative commercial values. Further, such relative values are not permanent as their relative importance of Joint and by-products is evanescent in nature, as can be seen by the following two examples. In the sugar industry, till about four decades back, press mud was Just a waste product of nuisance value, that needed continuous disposal at additional costs or else it will create contamination. Subsequently, through research, it was found that the press mud contained rich nutrients which stimulate plant growth, as a result f which it became a commercially valuable product. 4. 3. Methods of Apportionment of Joint Costs: The generally accepted cost apportionment methods are of two principal types. They are broadly, Market Value Bases: Bases assumed to measure the ability to absorb joint costs, where the resulting product costs are related to some market value of the products. Under this method, Joint cost allocations are made based on the individual products ability to absorb, as indicated by the sales prices. While choosing a selling price, it is important to choose a representative period considering the normal cycle f fluctuations. Such a representative figure may be the daily average of the past month or quarterly average as may be appropriate. In case the products are sold to different markets, the adjusted market value, eliminating freight and brokerage or commission elements or any other cost is to be taken. Horned rightly points out that market based measure are difficult to use in the context of rate regulation. It is circular reasoning to use selling process as a basis for selling prices (rates) and at the same time use selling prices to allocate the cost on which prices (rates) are based. To void this circular reasoning the physical measures method may be used in rate regulation environment. Physical Unit Bases: Where individual products are from a common input, and none of the products, can be categorized as a by-product, this method is followed. Under this method, the Joint costs are allocated to individual products on some physical measurement basis, biz. Weight, volume, or some other common unit used to measure output. (Egg: calorific content. ) This method is suitable under circumstances where the units of measurement of the final products are the same or capable of being measured in similar units. In industries where Joint products emerge in different physical state and are therefore measured in differing physical units, a problem arise in establishing a common denominator. However, even in case where the outputs emerges as solids, liquids and gases, a common unit or physical co-efficient such as weight, can normally be found as a conversion factor (the weight of a gas is calculated given the volume, temperature and pressure). Another form of physical unit basis is the weighted average method based on pre- determined standards. Some technical estimation is used to reduce all output to a moon denominator. The weights may possibly be based on size of units, time consumed in making them, material consumption etc. The actual numbers of output the Joint cost apportionment is based. Cost drivers as a base: The development and implementation of Activity Based Costing in many enterprises have made available cost drivers, as an integral part of the Cost Management System. Therefore, the cost drivers can be used as a logical basis for cost allocation. 4. 4. Market value basis 4. 4. 1 . Apportionment of Joint cost on the basis of sales value: The apportionment of mint costs on the basis sales value of the products will be followed when no other rational basis for apportionment of Joint cost is available and the Joint products are sold without any further processing at split off point.