Sunday, September 22, 2019

Administrative Law Rev Essay Example for Free

Administrative Law Rev Essay Freedom of Information Act 1982 is entirely in the interest of public who can have access to various documents of government of Victoria and its public agencies for verification or for any other useful purpose.   The sole objective of FOI Act is to bring awareness among public whether the functioning and operations of government are in order   and how public analyze the same. Section 22 provides about the charges to be paid for having access to specific documents.   The section provides technical details of payment of fee that is calculated with time that is taken for search of documents.    This is particularly due to the fact that   the time taken for search of documents may vary depending on the date of publication of document. This is also in order to reduce the payment of fee to be paid by public.   All sectors of public may not afford to pay high rate of fees for having access to government documents.   In view of such as these reasons, hourly rate and time taken for search of documents has been included in this section. The section also covers transcription (h)   and routine requests (g)   and in case of inspection of documents no charge shall be calculated (f) in pursuance of Section 8(1) or 11(1). Section 27 clearly states about reasons of refusal of documents by a Minister of state to that effect, applicant shall be informed about the reasons in writing.   This section is somewhat complicated with the fact that a minister or a government official is a servant of public and with that motive, public must be provided access to the documents which is the sole purpose of FOI Act. This section is likely to give rise to conflicts between and may bring a deep dissatisfaction to public. Some of the documents that contain health information are also restricted with the provisions of Health   Records Act 2001, which of these reasons are also to be stated to applicant.   Although there are clauses for applying of review of decisions, launch complain to Ombudsmen, it is both time consuming and   undecisive for applicants to move further with such grievances. Section 50 deals with applications for review which would be pending with Tribunal for decisions.   This may pertain to a request for document, charge made, decision for access, or any other specific request regarding information under FOI Act.  Ã‚  Ã‚   The Tribunal in all respects has to deal with each individual case, giving its due importance of provisions along with genuine reasons. This section is in favor of public, as Tribunal shall reconsiders and reviews the decisions and grants permissions to public in various aspects that are relevant to FOI Act. The Tribunal may refuse the decision of Minister or agency and give an order in favor of public. Those issues or requests for documents which were not considered by Minister, are very well resolved at Tribunal by applicants. Section 51 states that an applicant may apply to Principal officer or Minister for review of decision, which was given in the deemed absence within 28 days   for review of decision or refusing to give access to health documents as per Section 36 of Health Records Act 2001. This section offers powers and opportunities to public   for   reconsideration of requests for having access to documents.   Applicants have to be excessively vigilant in deriving the maximum benefit from the government bodies and officials.  Ã‚  Ã‚   This section is both useful for public and for principal officers to check the veracity of facts in all respects. Section 51A  Ã‚  Ã‚   deals with conciliation of Health Service Commissioner   which state that issues that were deferring in Section 50 and 51 in the matters of health documents, may suitably be taken up by applicant with this section and apply for Health Service Commissioner’s decision.   In case Health Service Commissioner fails to conciliate a request, to that effect an notice in writing must be issued to both applicant and Principal Officer. This appears as a last resort for applicant as the decision of Health Service Commissioner is the final approach for an applicant. Conclusion The enactment of FOI is made with a view of regularizing the functioning and to increase the   working efficiency of governments.   Apart from this fact, the public are also provided an in-depth knowledge about information and working status of governments. Although there are many technicalities involved in FOI Act, each section, sub-section and clause, a significance of reason is attached to it for the benefit of both public and governing bodies.

Saturday, September 21, 2019

Compare and Contrast how Aristophanes depicts Essay Example for Free

Compare and Contrast how Aristophanes depicts Essay Aristophanes and Euripides were poets in Athens during the Peloponnesian War. They had very different writing styles. Euripides was the older and he wrote Greek Tragedy and Comedy. He was one of the three important tragedy writers of the time, the others were Aeschylus an Scophocles. Euripides introduced new methods of handling the traditional myths, for example he used realism in his subject matter and was interested in the way women thought and how they acted. This is shown in his plays Hippolytus and The Trojan Women. Aristophanes wrote comedies in which inventive situations and colourful language were typical. His poems were mainly concerned with situation which was topical at that time. He satirized politicians and scholars and parodied his fellow poets. He used political and social fantasy a great deal as in the womens sex strike in Lysistrata. Aristophanes wrote two parodies which featured the tragic poet Euripides. These were The Poet and the Women and the Frogs. Euripides died before Aristophanes wrote the Frogs and so he was able to make the parody greater. Aristophenes wrote The Poet and the Women while Euripides was still alive and a respected and famous author. Aristophanes was unable to resist making fun of him in his play. He portrayed him as a man who was clumsy and in fear for his life, This day is to decide whether Euripides is to live or die. (Page 102). This was because Euripides was being threatened by the women of Athens who wanted to kill him because his plays showed the worst side of women, the women are meeting up at the Thesmorporia today and theyre going to condemn me to death for slandering them (Page 106). Euripides knew that the Thesmophoria, a religious festival for women, was going to happen soon and he wanted to send a spy to find out how the women were plotting his death. Euripides, with the help of his friend Agathon, therefore, persuaded his elderly relative Mnesilochus to dress up a woman, lend me a dress and a headband for my friend here? You cant pretend that you dont possess such things (Page 108), and attend the ceremony. Mnesilochus was discovered by the women who captured him and threatened to burn him as they believed him to be a spy for Euripides. Mnesilochis remembering one of Euripides plays sent a message A trick out of one of his own plays, The Palamedes. Chap wrote a message on an oarblade (Page 125). Euripides came to the rescue as a character out of that play showing courage he did not have, Thou lookst like Menelaos. (Page 133). In The Frogs, Euripides has been dead for some time and is portrayed as manipulative and greedy, besides, Euripides will be readier to sneak away with me, hes a much more slippery customer (Page 159). The storyline is about the God of Wine, Dionysus, who travels to the underworld to find a poet who will increase Athenian morale and lead them to victory in the Peloponnesian War. After first consulting the hero, Hercules, to find a way to Hades You could go via Rope and Gibbet: thats a very quick way, if you dont mind hanging around for a bit, to begin with (page 160), he sets off with his servant. He arrives in Hades only to find out that position of the best poet in Hades was in dispute, Oh, theres great goings on among the dead these days, great goings on. Civil war, you might call it (Page 185). Aeschylus the older Athenian poet, who wrote at least 50 years before Aristophanes, was being challenged by Euripides, Well then along comes Euripides and start showing off to all the fellers weve got down here cut-throats, highwaymen, murders, burglars, regular rough lot they are, (Page 185) Euripides had the support of the bandits, rogues and the worst men in general while Aeschylus had the sole support of Sophocles, hes sent a message: with this contest coming on, he says, hell stand by for third man if Aeschylus wins hell just go on as before, but if Euripides wins hell take him on himself.(Page 186). Sophocles was a friend of Aristophanes. Dionysus decided that even though Euripides had more support, it was Aeschylus chosen to restore Athens to its former glory, Well in my heart of hearts I have known all the time. No question about it, the man for me is (Page 210). Euripides in The Poet and The Woman is extremely comical especially when he is playing his own tragic heroes as they have heroic qualities which he lacks, other than loyalty which he shows when he tries to rescues Mnesilochus from his Scythian captor. However, Euripides in The Frogs is more sinister and has the ability to manipulate the bandits and rogues. He is therefore portrayed as a demagogue, who were people who played on peoples fears to increase their own political power. Aristophanes depicts Euripides in these ways because I believe that Euripides and Aristophanes were not friends but poetic rivals that respected each other even though they did not agree with each others type of poetry. A version of Ancient Greek professional courtesy. I also feel that the political and social situation at the time that Aristophanes was writing influenced the way in which he portrayed him. Euripides in The Poet and The Woman is a reflection of his Euripidess personality in real-life but has been distorted to make the make the play comical. His clumsiness and cowardliness have been exaggerated for this end. Euripides shows how cowardly he is because he sends Mnesilochus to the Thesmophoria and not himself. His clumsiness is shown through his use of the Deux Ex Machina which he uses to create the parody of Perseus but he cant control it, He must be coming to save me: he wouldnt have flown by just to pass the time of day. (Page 136), and he flies back and forth. However, Euripides does show loyalty to his friends by attempting to rescue Mnesilochus.

Friday, September 20, 2019

2014 Somerset Levels Floods: Causes and Future Strategies

2014 Somerset Levels Floods: Causes and Future Strategies Following the 2014 Somerset Levels floods, Communities Secretary Eric Pickles publicly apologised for the lack of dredging of the Levels and criticised the Environment Agencies management strategy. Examine the causes of the Somerset Levels floods, and evaluate the flood management solutions. During the autumn and winter of 2013 2014, an unusually high frequency of depressions moved across the Somerset Levels, causing both fluvial and pluvial flooding on a prodigious scale. The two main rivers which flow through the Levels, The River Tone and Parrett, burst their banks, spilling into the already heavily saturated flood plain. A major incident was declared and subsequently allowed the Somerset council to request financial, and physical, aid to the region (House of Commons, 2014).This essay highlights the key reasons the Somerset Levels flooded, as well as evaluating the main management solutions that were put forward during the peak of the flooding. The autumn to winter period saw a record-breaking Jet Stream, fuelled by a diving cold Polar Vortex across the United States. With this, brought powerful storms across the United Kingdom (MetOffice, 2014). As the Polar Vortex moved southward, it interacted with the Jet Stream. This caused powerful Jet Streaks to form, thus producing rapid cyclogenesis in the mid-Atlantic. This pattern lasted several months, exacerbating the flooding issues across the Somerset Levels. As the storms became more frequent, the water table filled up exponentially, as the majority of the soil inside in the Somerset Levels consists of clay and, further inland, peat (North Somerset Council, 2008). Every year the area experiences pluvial flooding due to its impermeable calcareous clays, which drains water very slowly (Soilscapes, n.d.). In places, parts of the rivers that run through the Levels sit above farmland, which allowed broken river banks to spill water onto the neighbouring fields. Combined with the waterlogged land, it makes the area incessantly prone to flooding (House of Commons, 2014). The flooding eventually became a serious threat to residents and farmland which coerced the government to initialise flood management in the area, introducing extensive dredging upon the main rivers (Hartwell-Naguib and Roberts, 2014). This process takes silt deposits out from the river bed to increase the volume of the river. There has been a divide amongst the government and the Environment Agency as to whether this is a feasible and financially secure approach to flood management. The Environment Agency rejects that dredging rivers is the most important approach, as Lord Smith, chairman of the EA, claims that dredging the rivers would only make a small difference and that other management solutions would need to be applied (Guardian, 2014). The Environment Agency (Environment Agency, 2014) retains the idea that dredging would only work on a short-term basis, and the silt on the riverbed would soon return and need to be dredged once again, adding to the growing financial cost. Dred ging also has a detrimental effect on the ecosystems that run within the river, as the UK Marine Special Areas of Conservation (SACs) adds that dredging causes a range of potentially damaging environmental effects on our rivers (UK Marine, n.d.). These effects include the removal of certain species and poor quality of water for those species, primarily caused by suspended sediment after the dredging process (UK Marine, n.d.). Although there appears to be a strong basis of negativity towards the process of dredging, it can also reduce the time that flooding occurs due to the increase of water conveyance within the river (CIWEM, 2014). Another idea to limit river levels was to introduce natural filter strips; vegetation is introduced to the banks of rivers to slow down rain water from running into the river. This could in turn slow down the rise of river levels, and limit the amount of water that breaks the river bank (North Somerset Council, 2008). Another flood management solution that was recommended by the Environment Agency during the height of the floods was the use of high-capacity pumps from Holland. These pumps can drain up to 7.3 million tonnes of water each day out of the worst affected areas, into the River Sowey which then feeds into the River Parrett (CIWEM, 2014)(BBC News, 2014). The idea was to relieve pressure on the River Tone, as the surrounding areas were completely underwater. This system was highly effective at reducing water levels, however it unfortunately resulted in the displacement of water to other areas. This concluded in the areas, which previously were less affected, now being at a potential risk of flooding which caused a disposition in government. The government had been heavily criticised by the media, organisations and local residents for not acting sooner. The Committee on Climate Change (CCC) had warned the government that cuts to annual flood risk management had left a hole in financial investment in flood management across the UK, and in particular, Somerset (Hartwell-Naguib and Roberts, 2014). The Environment Agency also commented that the 10-15% cut in funding could overshadow the Somerset Levels as it’s not seen as a main threat (Alex Marshall, 2014). Responding to these concerns, the government have recently announced that a number of temporary flood defences and pumping sites will be made permanent by supporting farmers to manage flood risk better, to ensure all new developments in the area have suitable drainage systems. (Department for Environment, 2014). In summary the flood management solutions that were used to alleviate the Somerset floods came in far too late. The Somerset Levels are prone for flooding, yet only a small amount of preventative measures were put forward to protect those who were in potential danger. The dredging process has been the most popular form of flood management in the area, but due to its high cost and small effect on flood levels, it remains an issue as to whether it can continue as the main preventative system. A more permanent solution will need to be put forward that is both financially economic and suitable for the area, to ensure both residents and farmland are better protected. References: Environment Agency. (2014).Dredging and Flood Risk.Available: Leaflet.pdf. Last accessed 07/12/2014. House of Commons. (2014).Winter Floods 2013/14.Available: [Accessed 06/12/2014.] North Somerset Council. (2008).Strategic Flood Risk Assessment: Level 1.Available: 1 study of North Somerset (pdf).pdf. [Accessed 06/12/2014.] Department for Environment. (2014).New action plan to protect Somerset from flooding.Available: [Accessed 30/11/2014.] BBC. (2014).What are the Somerset Levels?.Available: [Accessed 28/11/20.] BBC. (2014).UK floods: Somerset Levels Dutch pumps start work.Available: [Accessed 25/11/2014.] UK Marine. (n.d.).Dredging and disposal: Suspended sediments and turbidity.Available: [Accessed 27/11/2014.] Landis. (n.d.).Soilscapes.Available: [Accessed 27/11/2014.] Meteorological Office. (2014).MetOffice.Available: [Accessed 22/11/2014.] Hartwell-Naguib, S Roberts, N. (2014).Winter Floods 2013/14.Available: [Accessed 24/11/2014.] CIWEM. (2014).Floods and Dredging a reality check.Available: [Accessed 26/11/2014.] Alex Marshall. (2014).Environment Agency cuts: surviving the surgeon’s knife.Available: [Accessed 29/11/2014.] Guardian. (2014).Lord Smith: EA staff know 100 times more than any politician about flooding.Available: [Accessed 30/11/2014.] Pointers: Structure your paragraphs! One point per paragraph. Make the essay flow. Every paragraph should link to the next. Theoretically you should be able to read it backwards and it’ll make sense. Point – make your point Evidence – give your evidence Explain – explain its relevance Link- link to the next paragraph Be careful with abbreviations. You can abbreviate only after you have written it in full once with the abbreviation after i.e. United Kingdom (UK). Then later you can use UK. Be careful not to be too chatty, be formal! You’re not talking to a friend. Don’t add new points in your conclusion paragraph. This is a summary of what you’ve already discussed. Summarise! Make sure your referencing everything! You can’t just know something, you have to prove how you know it and who it’s from. Try to use credited references from research papers/articles, don’t use Wikipedia or web pages, BBC news isn’t great either. Write all numbers in long hand, i.e. one hundred not 100. Remember 10% of your mark is in presentation. How does your uni want your essays presented? Font. Format etc.

Thursday, September 19, 2019

The Rivalry between Germany and Britain Essay -- Papers world war one

The Rivalry between Germany and Britain The direct cause of the First World War, the spark that set it off in other words, was the assassination of the Austrian archduke Francis Ferdinand, who was heir to the throne of Austria-Hungary, and his wife by a Serbian student in Sarajevo in June 1914. A month later Austria declared war against Serbia. This local warfare brought Russia, Germany and France straight into fight, and in the end got other European Powers such as Britain, and even Japan and America involved thus became a world wide armed conflict. There are many arguments that have been made among historians about grounds of such war. So many theories have been found, and discussed for decades. Yet the controversy has not seen its end and is still growing. Imperialism, militarism, rise of nationalism, and the alliance systems are often named as the major causes. However, when historians come to discuss militarism on this subject, their theme tends to be based around whether or not a sense of rivalry between Germany and Britain was one of the primary causes. The purpose of this paper is answering the essay question above by examining the Anglo-German relations before 1914, and its significance on outbreak of the war. Before start, it should be made clear what it is meant by the words "major cause" in the title above. Examiner's use of the word "major" can be vague. Does she mean the major cause as the factor that has direct and decisive impact upon the incident? If so, the answer to this question is no. The war did not arise originally from between Germany and Britain, and reason for them to join the war, on the surface, appeared to be alliances with the other countries involved. Yet, there is other interpretat... ...y of Europe 1815-1914`. Second Edition. Longman Group Limited. Berghahn, V.R.1987. `Modern Germany`, Society, economy and politics in the twentieth Century. Second Edition. Cambridge University Press. Joll, James. 1990.`Europe Since 1870`, An International History. Forth Edition. Penguin. Larr, Jon. `An Overview of World War 1`. Layton, G.1995. `access to history`, From BISMARCK to HITLER: GERMANY 1890-1933. Hodder & Stoughton. Roberts, J.M.1989. `Europe 1880-1945`, A General History of Europe. Second Edition. Addison Wesley Longman Limited. Wolfson, R. and Laver, J. 1996.`Years of Change, Europe 1890-1945`. Second Edition. Hodder & Stoughton.

Wednesday, September 18, 2019

A Neural Network Primer :: Neural Network Primer Essays

A Neural Network Primer This paper gives the basics of the subject of neural networks. It is recommended for those new to the subject of neural networks and only assumes that the reader has a knowledge of basic algebra. Please feel free to distribute this paper as you wish but please distribute the entire paper without deletions and limit your corrections and additions to the space below the bottom line after the last paragraph of the original text. If you wish for your correction or modification to be changed in the body of the original text, please send your recommendation to one of my computer addresses above. A function is a mysterious black box with inputs and an output. ---------- X --->| | | Function |---> Z Y---->| | ---------- The above function has 2 inputs, X and Y, and one output, Z. Mysterious black boxes that take in inputs and produce an output are called "functions". Sometimes we don't know what goes on inside the function to produce the output from the inputs so that's why we call them "black boxes". X Y | Z ----------- 0 0 | 0 0 1 | 1 1 0 | 1 1 1 | 1 The above table maps out a possible function. It is called the "Or" function. Note that Z is zero when X and Y are both zero and Z is one whenever X "or" Y is a one. Mapping out a function in a table as is shown above is known as creating a "truth-table". X Y | Z ----------- 0 0 | 0 0 1 | 0 1 0 | 0 1 1 | 1 The function mapped out in the truth-table above is known as the "And" function. Note that Z equals 1 only when X "and" Y both equal 1. Note that the numerical values we have used so far for X, Y, and Z have been limited to only "0" and "1". When you only use two values like this you are using a "binary" or "boolean" number system. "Binary" and "boolean" basically mean "two values".

Tuesday, September 17, 2019

Net Present Value and Papa Geo

Papa Geo’s – Restaurant Budget Proposal For 2012 – 2017 BUSN-278 [Term] Professor[name] DeVry University ————————————————- Table of Contents Section| Title| Subsection| Title| Page Number| 1. 0| Executive summary| | | | 2. 0| Sales Forecast| | | | | | 2. 1| Sales Forecast| | | | 2. 2| Methods and Assumptions| | 3. 0| Capital Expenditure Budget| | | | 4. 0| Investment Analysis| | | | | | 4. 1| Cash flows| | | | 4. 2| NPV Analysis| | | | 4. 3| Rate of Return Calculations| | | 4. 4| Payback Period Calculations| | 5. 0| Pro Forma Financial Statements| | | | | | 5. 1| Pro Forma Income Statement| | | | 5. 2| Pro-Forma Cash flow Statement| | | | 5. 3| Pro-Forma Balance Sheets| | 6. 0| Works Cited| | | | 7. 0| Appendices| | | | | | 7. 1| Appendix 1: [description]| | | | 7. 2| Appendix 2: [description] etc| | * 1. 0 Executive Summary 1. 0 Executive Summary * * T his budget proposal is for the starting and running of a single location, sit-down Italian restaurant named Papa Geo’s.The restaurant would be located in Orlando, Florida and would majorly target middle to lower-middle class families with children, as well as adults and seniors, thus making it a friendly and family place. The major product and service provided by the restaurant would be Italian food served buffet style with an all-you-can-eat format with a lot of variety including a salad bar, pizza, several different types of pasta with three or four types of sauces, soup, desserts, and a self-serve soda bar. There would also be a gaming area within the restaurant with gaming machines installed which would be of interest to children.The business would provide wholesome and fresh food, in a simple format, with very good prices and is located in a densely populated area, all of which would help the restaurant to do well and establish itself as a popular and profitable business . * * * Also, provide a second paragraph which describes how the budget supports the company’s strategy. * * Finally, provide a third paragraph where you summarize the key points from your budget, including the planning horizon, the amount of up-front investment, the NPV, Payback and IRR of the project, as well as key figures from your income statement, cash flow statement, and balance sheet. * Remember, this is not a thesis or introduction of what you will talk about – it contains the major, specific content of each section. The second and third paragraph should be written after you have completed all other sections of this template. * * As you complete sections of this template, please remove all italicized text in all sections of this template and replace it with your own or you will lose points! * * 2. 0 Sales Forecast 2. 0 Sales Forecast * * This section forecasts the sales of Papa Geo’s restaurant over a five-year period.Section 2. 1 gives the estimated sa les figures and a brief explanation on the changes in these figures over the planning period. * Section 2. 2 delves into the details of how this sales estimate has been arrived at, calculations involved and the methods and assumptions used in the process. * Overall, this section is useful is providing an estimate of how much the restaurant can make in sales, given its internal specifics and external environment. * 2. 1 Sales Forecast * * The yearly sales forecast for Papa Geo’s restaurant is given below.In $ | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Sales | 933,504. 00 | 1,555,840. 00 | 1,616,517. 76 | 1,679,561. 95 | 1,745,064. 87 | * My methods and assumptions for arriving at the sales figures in the table are detailed in section 2. 2 The sales figure estimated per my calculations is taken as the sale figure for Year 2. This is because the sales figure arrived at from the calculations cannot be assumed to be sales for Year 1 as the restaurant might not be able to reali ze its full potential and attract the estimated number of customers from day one itself.Also, teething problems with marketing, operations etc might not lead to optimum sales. Therefore, we will project only 60% of this figure as first year sales and use the estimated figure as the sales figure for Year 2. Over the planning period, starting from Year 2 onwards, sales are expected to grow at a rate of 3. 9% every year, in line with industry estimates of the average growth of the restaurant industry in the US (Source: Mintel International, cited in section 6. 0). * * 2. 2 Methods and Assumptions * According to the brief given on Papa Geo’s restaurant, there are about 10,000 families living within 15 minutes of the restaurant. Of these, between 3% and 5% are rich households (Phoenix marketing international, Wikipedia) and it is assumed that another 15% comprise of high income and upper middle class households. That leaves about 80% of the 10000 families in the area,that are the target market for the restaurant. * * According to a research paper (in restaurant. org), American families eat out about 4 times a week.However, considering that our target market comprises of mostly middle and lower income families, I’ve assumed that they eat out only about 2 times a week on an average. This means that, about 16000 families [(80%*10,000)*2] eat out in a week in that area in Ohio, Florida. * * In terms of competition, although it is mentioned that McDonalds, Taco Bell and Wendy’s operate in the area, we assume there are other small places that people might visit to eat out. Also, people might venture out beyond their areas to eat out.Keeping these in mind, we’ve assumed that these four places (Papa Geo’s, McDonald’s, Taco Bell and Wendy’s) will be able to capture only about 85% of these families. (16000*85%=13600/week). Of these four places, since the others are fast food and fast food restaurants generally command a larger footfall than other format restaurants we assume the following about their share in the pie of families: Taco Bell: 30%, McDonald’s: 30%, Wendy’s: 30% and Papa Geo’s: 10% * * i. e, Papa Geo’s can expect to capture 1360 (10%*13600) families per week.Since this is a family dining place, we make another assumption about the composition of the family. We assume that out of a family of 4, two are kids and two adults. Which means that about 2720 (1360*2) kids and 2720 adults (1360*2) will eat from Papa Geo’s per week. * * Given that a meal (including drinks) cost about $7, we make the following assumptions: * Adults visiting the restaurant will have meals (@ $7), on an average. * Kids visiting the restaurants with their families will make a bill of about $4 per head. Given this, we now estimate the weekly sales for adults and kids. Therefore, d * Sales from Adults per week: 2720*7 = 19040 * Sales from Kids per week: 2720*4 = 10880 * * Now, the total sal es (both adults and kids, as part of families) per week can be estimated at: 19040+10880 = $29920 * Therefore, average sales per year = 1,555,840 * The sales figure estimated by these calculations is taken as the sale figure for Year 2. This is because the sales figure arrived at from the calculations cannot be assumed to be sales for Year 1 as the restaurant might not be able to realize its full potential and attract the estimated number of customers from day one itself.Also, teething problems with marketing, operations etc might not lead to optimum sales. Therefore, we will project only 60% of this figure as first year sales, and use the estimated figure as the sales figure for Year 2. Over the planning period, starting from Year 2 onwards, sales are expected to grow at a rate of 3. 9% every year, in line with industry estimates of the average growth of the restaurant industry in the US (Source: Mintel International, cited in section 6. 0). * * * * * * * * * * * * * * * * * * 3. C apital Expenditure Budget 3. 0 Capital Expenditure Budget * * Capital Expenditure Budget: * Item| Cost| Quantity| Total cost| Source| Notes and Assumptions| Cost of registering a business| 300| | 300| ehow. com| Cost of registering includes: actual cost of registering ($70), legal fees and misc expenses (approx $230)| Renovation of facility| 15000| 1| 15000| Given| This includes all kinds of beautification etc that the restaurant needs to start operations| Soda fountain bar| 3621| 1| 3621| Soda-dispenser. om| Prices quoted may or may not be the same at later dates| 2 pizza ovens| 849| 2| 1698| ebay| Prices quoted may or may not be the same at later dates| salad and Pizza/dessert bar| 1450| 1| 1450| ebay| Prices quoted may or may not be the same at later dates| Commercial Refrigerator| 3529| 1| 3529| Coldtechcommercial. com| Prices quoted may or may not be the same at later dates| Cash Register| 170| 2| 340| ebay| Prices quoted may or may not be the same at later dates| Video game ve nding machine| | | | | |Type 1| 550| 2| 1100| ebay| Prices quoted may or may not be the same at later dates| Type 2| 750| 2| 1500| ebay| Prices quoted may or may not be the same at later dates| Laptop for management| 275| 1| 275| ebay| Laptop purchased with Warranty, Price quoted may or may not be the same at later dates| desk for mgmt| 25| 1| 25| ebay| Prices quoted may or may not be the same at later dates| Staff Microwave| 319| 1| 319| ebay| Prices quoted may or may not be the same at later dates| Staff cupboard| 100| 1| 100| Assumed| | taff refriferator| 700| 1| 700| ebay| Prices quoted may or may not be the same at later dates| Tables for the restaurant| 279| 20| 5580| tableschairsbarstools. com| Prices quoted may or may not be the same at later dates| Chairs for the restaurant| 55| 80| 4400| restaurant-services. com| Prices quoted may or may not be the same at later dates| Busing cart for restaurant| 50| 1| 50| ebay| Prices quoted may or may not be the same at later dates| Com mercial dishwasher| 2500| 1| 2500| ebay| Prices quoted may or may not be the same at later dates| Restaurant signage| 124| 1| 124| brightledsigns. om| Although this is a form of advertising, this wouldn't be considered as an operating cost given the long term (more than a year) nature of its use| Total|   |   | 42611| | | * * The above table provides an estimate of the capital budget required for Papa Geo’s restaurant. For each item, sources and assumptions used are explained towards the right side of the table. Other generic assumptions beyond those already mentioned are provided below: * Miscellaneous cooking and handling equipment cost will be considered operational expenses and will not be capitalized given the short term (less than a year) use of such assets.Cutlery, drinking cups etc would be considered to fall into the same category| * The total cost of registration is considered as capital expenditure due to its long term nature of use| * Any fixtures like lightin g etc are considered as operational expenses and will not be capitalizedThe total capital budget required is US$ 42,611. Major component of this budget are renovation and equipment costs, which is true of restaurant businesses. | * * * * 4. 0 Investment Analysis 4. 0 Investment Analysis * 4. 1 Cashflows * Year 1| Year 2| Year 3| Year 4| Year 5| Sources of Cash| | | | | | Total income (from food and vending machines)| 9,38,944 | 15,61,492 | 16,22,390 | 16,85,664 | 17,51,404 | | | | | | | Uses of Cash| | | | | | Cost of Food| 282880| 294195. 2| 305963. 008| 318201. 5283| 330929. 5895| depreciation on equipment| 3069. 2| 3069. 2| 3069. 2| 3069. 2| 3069. 2| Salaries| 348636| 362581. 44| 377084. 6976| 392168. 0855| 407854. 8089| employee benefits| 21887. 2| 22762. 688| 23673. 19552| 24620. 2334| 25604. 92827| utilities| 24000| 24000| 24000| 24000| 24000| credit card fees| 23,473. 60 | 39,037. 30 | 40,559. 76 | 42,141. 59 | 43,785. 11 | inventory holding costs| 2,347. 36 | 3,903. 73 | 4,0 55. 98 | 4,214. 16 | 4,378. 51 | advertising and marketing| 15,000| 10000| 10000| 10000| 10000| Rent| 630000| 630000| 630000| 630000| 630000| Insurance| 1000| 1000| 1000| 1000| 1000| interest| 13320| 13320| 13320| 13320| 13320| ncome – opex (for purposes of tax calculation)| (4,26,669)| 1,57,623 | 1,89,665 | 2,22,929 | 2,57,462 | Taxes| – | 42,558. 10 | 51,209. 42 | 60,190. 80 | 69,514. 82 | add back depreciation (non-cash expense)| 3069. 2| 3069. 2| 3069. 2| 3069. 2| 3069. 2| | | | | | | Net Cash Flows| (4,23,600)| 1,18,134 | 1,41,524 | 1,65,807 | 1,91,017 | * * * Highlights and Assumptions: * For this cash flow analysis, only operating activities are considered nd it is assumed that there are no investing and financing cash flows that may have material impact on the business * Average meal cost $4 in materials and labor, costs expected to increase about 4 percent a year — the same as increase in sales. From the sales forecast page, it is assumed that 1360 fami lies eat at the restaurant per week * Equipment cost depreciated over a 5 year period, on a straight line basis * Salaries assumed to grow at about 4 percent per year * Cost of benefits to increase at 4 percent – in proportion to salaries * Utility bills assumed to average out for the year and over the years * Given : 2. % of sales * 10% of following month's sales is given. For the whole year, assumed at 10% of the year's sales of food only. Vending machine sales not included * Assumed to be higher in the first year and then average out at lesser cost over the next 4 years * Rent assumed to be 15 dollars per sq foot * It is assumed that the entrepreneur take a 100k loan * Assumed tax rate to be 27 percent. Actual tax rate is slab-based and may vary * Includes all capex items except costs of registration and renovation expenses 4. 2 NPV Analysis * Interest rate| 15%| | | | | | | | | | |Year| 1| 2| 3| 4| 5| Cash Flow| (4,23,600)| 1,18,134 | 1,41,524 | 1,65,807 | 1,91,017 | PV f actor| 100%| 87%| 76%| 66%| 57%| PV of cash flow| (4,23,600)| 1,02,725 | 1,07,013 | 1,09,021 | 1,09,214 | Cumulative PV| (4,23,600)| (3,20,875)| (2,13,863)| (1,04,842)| 4,373 | Net Present Value| 4,373 | | | | | * * Highlights and Assumptions: * As can be seen from the above table, the net present value for the project is positive which shows that the project should be pursued. Interest rate of 15% has been taken for calculation, assuming that the project would be financed with debt taken at the rate * 4. 3 Rate of Return * Cost of Capital| 6%| | | | | | | | | | | Year| 1| 2| 3| 4| 5| | | | | | | Net Cash Flow| (4,23,600)| 1,18,134 | 1,41,524 | 1,65,807 | 1,91,017 | PV Factor| 100%| 94%| 89%| 84%| 79%| PV of net cash flow| (4,23,600)| 1,11,447 | 1,25,956 | 1,39,215 | 1,51,303 | Cumulative PV| (4,23,600)| (3,12,153)| (1,86,197)| (46,982)| 1,04,321 | Net present value| 1,04,321 | | | | | | | | | | IRR (Internal rate of return)| 15%| | | | | * * Highlights and Assumptions: * The projec t presents a rate of return on 15% which can said to be attractive, as against a cost of capital rate of 6% * 4. 4 Payback Period * Provide a screen shot of your Excel calculation of the payback period for this venture. * Year| 0| 1| 2| 3| 4| Cash Flow| (4,23,600)| 1,18,134 | 1,41,524 | 1,65,807 | 1,91,017 | Payback| NA| N/A| N/A| N/A| 2. 99| * * Highlights and Assumptions: * The project has a payback period of 2. 9 years, essentially it would pay back for itself in about three years’ time. * * 5. 0 Pro-Forma Financial Statements 5. 0 Pro-Forma Financial Statements * * In this section, the future financial statements of Papa Geo’s restaurant are presented based on certain assumed events and transactions. They are an active planning tool and tend to give an indication of the company’s performance in the future based on certain assumptions. * * Pro-Forma Income Statement | Year 1| Year 2| Year 3| Year 4| Year 5| |   |   |   |   |   |Total Sales| 938,944 | 1,561,492 | 1,622,390 | 1,685,664 | 1,751,404 | Total Variable costs| 657,337 | 699,718 | 727,663 | 756,725 | 786,948 | Contribution Margin| 281,607 | 861,774 | 894,727 | 928,938 | 964,456 | Total Fixed Costs| 708,276 | 704,152 | 705,062 | 706,009 | 706,994 | Total Income before Tax| (426,669)| 157,623 | 189,665 | 222,929 | 257,462 | Tax Expense| 0| 42558. 014| 51209. 41996| 60190. 80097| 69514. 82326| Net Income| (426,669)| 115,064 | 138,455 | 162,738 | 187,947 | * * Assumptions and Highlights: * This Pro Forma Income Sheet is prepared in Contribution format. A contribution income statement breaks costs down between variable costs and fixed costs. Contribution income statement is only an internal financial planning tool and cannot be assumed to reflect accounting norms or procedures like IFRS etc. * All sources for figures are the same as mentioned in Cash flow analysis (section 4. ) * Although salaries calculated are based on specifics given in the project description of Papa Ge o's, it is assumed that they will vary according to sales and that the company may hire or fire depending on business volumes * 5. 2 Pro-Forma Cash Flow Statement * Provide a screen shot of the cash flow statement and describe the impact of the budget on cash balances. * 5. 3 Pro-Forma Balance Sheets Provide a screen shot of your balance sheets, and describe key figures they contain. * 6. 0 Works Cited 6. 0 Works Cited Market Research portal: http://www. marketresearch. com/Mintel-International-Group-Ltd-v614/American-Families-Dining-6166418/ Restaurant. org: http://www. restaurant. org/tools/magazines/rusa/magarchive/year/article/? articleid=138 Wikipedia: http://en. wikipedia. org/wiki/American_upper_class Ehow. com Soda-dispenser. com Coldtechcommercial. com Ebay tableschairsbarstools. com restaurant-services. com brightledsigns. com * * * 7. 0 Appendices 7. 0 Appendices * * NOTE: Start this section at the top of a new page. This section of the budget proposal is where youâ€℠¢ll attach all of the supporting materials that you’ve referenced in the preparation of your plan, and that is too detailed or extensive to be included in the body of the report. Use this page to separate the appendices from the text in the body of your report. Make certain that you update the table of contents to include the title of each exhibit in the appendix and its page number. 7. 1 Appendix 1: [put a description here] 7. 2 Appendix 1: [put a description here] 7. 3 Appendix 1: [put a description here] * *

Monday, September 16, 2019

Macpherson Refrigeration Limited

Read the case, and answer the following questions:1.Search in the library (books on Operations Management or Production Management), to find the main components of the â€Å"Aggregate Production Planning† problem and briefly describe which are â€Å"pure strategies† and â€Å"mixed strategies† to solve this problem.The aggregate demand is the total demand for all products/services produced by a production facility without considering size, models, etc., usually there are significant seasonal variations. The objective of the Aggregate Production Plan is to manage production in order to meet the aggregate demand, matching capacity with demand fluctuations.The main components of APP are: external (Market Demand, Economic Conditions, Raw Material Availability and Competitors Behaviors) and internal (Production, Workforce Level, Inventory Level, Subcontracting, Backlog Policy, Physical Plant Capacity, Union Agreement, Capital Limit, among others).The mentioned compone nts can be modified to create production strategies which can be applied to this problem:Pure strategies: Considering one variable at a time to demand fluctuation: 1.Varying Workforce Level (Hiring or Firing). 2.Varying Production Rate (Overtime/Length of Work Hour) 3.Varying Inventory Level (High or Low).Mixed strategies: Considering two or more variables at a time to demand fluctuation: 1.Varying both Workforce Level and Inventory Level. 2. Varying both Production Rate and Inventory Level.2.Find the following parameters of the problem (specify the units involved):Productivity450 app/worker-year Expected for next year: 480 app/worker-year Regular Labour Cost$10.50/hr-worker Overtime Labour Cost1.5 times the regular hourly rate; $15.75/hr-worker Hiring Costs$1,800/worker Layoff Costs$1,200/worker Inventory Holding Costs$8/app-month Initial capacity13,000 app/month Beginning Inventory240 app3) What are the main advantages and disadvantages of each of the actions (page 2, item 6) avai lable to the company to meet demand? How can these actions be combined?1.Building inventory to meet peaks ïÆ' ¼Protection against unforeseen demand changes. ïÆ' ¼Inventory accumulation will be drawn down during peak demand periods. XIn periods of low demand, inventory would be accumulated and it would generate high holding costs.2.Using overtime ïÆ' ¼No inventory carrying costs. ïÆ' ¼Workforce held just to meet average monthly requirements. XExcessive overtime might lead to lower efficiency. XRestricted production might promote poor work habits and low morale.3.Hiring and laying off workers ïÆ' ¼The cheapest alternative. XUnion relations and employee morale could be adversely affected by frequent layoffs. X Hiring and training employees would be a problem (limited labour market).4) Replicate in an Excel spreadsheet, page 4 (Exhibit 1). It's not just to copy the spreadsheet, but to write down the formulas to incorporate the production flow balance. A similar flow balance can be obtained for workers.  There are also formulas to include all the costs involved. Although you may discuss these questions with your team, you must submit your work individually.