CkBooks Online – Free Online Books

These are integral part of the Financial Statements, which provide summary of accounting policies, adopted by Management in preparation of Accounts and preparing Financial Statements there from. These also present details about particular accounts (e.g. inventory, investments etc). Notes to Financial Statements also include other information e.g. leasing arrangements, pending legal proceedings, income taxes etc. [...]

This course is a continuation of the first course on Software Engineering. In order to set the context of our discussion, let us first look at some of the definitions of software engineering. Software Engineering is the set of processes and tools to develop software. Software Engineering is the combination of all the tools, techniques, [...]

Graphics Applications Due to rapid growth in the field of computing, now computer is used as an economical and efficient tool for the production of pictures. Computer graphics applications are found in almost all areas. Here we will discuss some of the important areas including: User Interfaces Almost all the software packages provide a graphical [...]

Inventories Inventories: • IAS 2 – Inventories are assets: Held for sale in the ordinary course of business; In the process of production for such sale; or • In the form of materials or supplies to be consumed in the production process or in the rendering of services IAS-2 lays out the required accounting treatment [...]

Transportation Problems INTRODUCTION Many practical problems in operations research can be broadly formulated as linear programming problems, for which the simplex this is a general method and cannot be used for specific types of problems like, (i)transportation models, (ii)transshipment models and (iii) the assignment models. The above models are also basically allocation models. We can [...]

VITAMIN CONTRIBUTION Vitami n Wheat (mg./oz.) Oats (mg./oz) Rice (mg./oz.) Milligrams Required/Box A 10 20 08 100 D 07 14 12 70 The cost of one ounce of wheat is Rs. 0.4, the cost of an ounce of oats is Rs. 0.6, and the cost of one ounce of rice is Rs. 0.2. Decision Variables [...]

LINEAR PROGRAMMING Linear programming is a mathematical technique designed to aid managers in allocating scarce resources (such as labor, capital, or energy) among competing activities. It reflects, in the form of a model, the organization’s attempt to achieve some objective (frequently, maximizing profit contribution, maximizing rate of return, minimizing cots) in view of limited or [...]

Brain and Motivational States Objectives: To familiarize the students with the Brain and motivational states Homeostasis, include temperature regulation, Cellular and brain controls of Thirst, Reward  systems and addictions, Fear, aggression, attachment Hunger, Body weight set point (Theories), Obesity, Anorexia Nervosa, thirst, bio-rhythms,Sleep and awakening. Pathology related to sleep cycles Sleep disorders and treatment Neurophysiology [...]

MARKET REPORTS The place where we go to buy or sell commodities is commonly known as market. Technically speaking, market is not a place or bazaar where we go to buy or sell, but it is indeed a contact of buyer and seller. The world has become a global village making buying and selling possible [...]

Project Dimensions ⇒ Product and Technology – The 80:20, rule was originated by Vilfredo Pareto, an Italian economist who studies the distribution of wealth in a variety of countries around 1900. He discovered a common phenomenon: about 80% of the wealth in most countries was controlled by a consistent minority — about 20% of the [...]

Project Characteristics 1. Temporary Temporary means that every project has a definite beginning and a definite end. The end is reached when the project’s objectives have been achieved, or it becomes clear that the project objectives will not or cannot be met, or the need for the project no longer exists and the project is [...]

Examples of projects include Developing a new product or service. Effecting a change in structure, staffing, or style of an organization. Designing a new transportation vehicle. Developing or acquiring a new or modified information system. Constructing a building or facility. Building a water system for a community in a developing country. Running a campaign for [...]

SUPPLY CHAIN Supply chain includes all the activities associated with the flow and transformation of goods from the raw materials stage all the way to the end user. Supply chain can be broken into three parts, that is, upstream activities, internal activities and downstream activities. Upstream activities relate to materials/services or the input from suppliers [...]

INVESTMENT THEORIES (CONTINUED) INVENTORY INVESTMENT Inventory investment, the goods that businesses put aside in storage, is at the same time negligible and of great significance. It is one of the smallest components of spending, yet its volatility makes it critical in the study of economic fluctuations. In recession, firms stop replenishing their inventory as goods [...]

INVESTMENT THEORIES Investment is the most volatile component of GDP. When expenditure on goods and services fall during a recession, much of the decline is usually due to a drop in investment spending. Economists study investment to better understand the fluctuations in the economy’s output of goods and services. The models of GDP, such as [...]

ECONOMIC GROWTH (CONTINUED) Previously, in the Solow model, • The production technology was held constant • Income per capita was constant in the steady state. Neither point is true in the real world TECHNOLOGICAL PROGRESS IN THE SOLOW MODEL A new variable: E = labor efficiency. Assume: Technological progress is labor-augmenting: it increases labor efficiency [...]

CLOSED ECONOMY, MARKET CLEARING MODEL KEY QUESTIONS TO BE ADDRESSED What determines the economy’s total output/income? How the prices of the factors of production are determined? How total income is distributed? What determines the demand for goods and services? OUTLINE OF MODEL (A closed economy, market-clearing model) SUPPLY SIDE includes factor markets (supply, demand, price) [...]

NATIONAL INCOME ACCOUNTING (CONTINUED) COMPUTATION OF NOMINAL AND REAL GDP Compute nominal and real GDP in each year using 2001 as the base year. Years 2001 2002 2003 Price (Rs) Quantity Price (Rs) Quantity Price (Rs) Quantity Good A 30 900 31 1,000 36 1,050 Good B 100 192 102 200 100 205 Nominal GDP [...]

NATIONAL INCOME ACCOUNTING GROSS DOMESTIC PRODUCT (GDP) Gross Domestic Product is the total market value of all goods and services produced within the political boundaries of an economy during a given period of time, usually one year. This is the government’s official measure of how much output our economy produces. It includes: Total expenditure on [...]

THEORY OF COSTS INTRODUCTION The production technology measures the relationship between input and output. Given the production technology, managers must choose how to produce. To determine the optimal level of output and the input combinations, we must convert from the unit measurements of the production technology to dollar measurements or costs. MEASURING COST: WHICH COSTS [...]

THE FOUR BIG MACROECONOMIC ISSUES AND THEIR INTER-RELATIONSHIPS (CONTINUED) EXOGENOUS GROWTH THEORY The Exogenous growth model, also known as the Neo-classical growth model or Solow growth model is a term used to sum up the contributions of various authors to a model of long-run economic growth within the framework of neoclassical economics. The most important [...]

THE FOUR BIG MACROECONOMIC ISSUES AND THEIR INTER-RELATIONSHIPS (CONTINUED) THE CONCEPT OF ECONOMIC GROWTH AND GROWTH RATE Economic growth is increase in an economy’s level of production, output or income. We can talk about production or output in two broad definitional contexts. One, we can compare real GDP with some other measure of welfare (for [...]

MACROECONOMIC EQUILIBRIUM; THE DETERMINATION OF EQUILIBRIUM INCOME (CONTINUED) KEYNESIAN AD & AS APPROACH TO EQUILIBRIUM WITH THE 450 LINE APPROACH P As the aggregate expenditures increases, AD also increases and output will also increase. Change in expenditures is less but change in income is higher due to the multiplier effect. This is the case of [...]

MACROECONOMIC DATA & NATIONAL INCOME ACCOUNTING (CONTINUED) GDP at factor and market prices: Factor price is the price at which firm sells its final output to the consumers. While market price includes factor price plus the indirect taxes imposed by the government. GDP at market price is higher than the GDP at factor price. GDP [...]

MACROECONOMIC DATA & NATIONAL INCOME ACCOUNTING THE USE OF MACROECONOMIC DATA As said: “there are lies, damned lies and statistics.” Likewise, macroeconomic statistics are also susceptible of both manipulation and misinterpretation. In order to ensure that you understand what a particular number or data representation really means, the following need to be considered: i. Data [...]

MARKET STRUCTURES (CONTINUED) & WELFARE ECONOMICS PRICE STABILITY IN NON-COLLUSIVE OLIGOPOLIES: KINKED DEMAND CURVE A kinked demand curve explains the “stickiness” of the prices in oligopolistic markets. The theory of kinked demand curve rests on the two assumptions that if one firm raises prices, no one else will raise their prices and so the firm [...]

MARKET STRUCTURES (CONTINUED) OLIGOPOLY Similar to monopoly in the sense that there are a small number of firms (about 2-20) in the market and, as such, barriers to entry exist. It is similar to perfect competition in the sense that firms compete with each other, often feverishly, which may result in prices very similar to [...]

MARKET STRUCTURES (CONTINUED) PRICE DISCRIMINATION (PD) happens when a producer charges different prices for the same product to different customers. A seller with a degree of monopoly power has the ability to price discriminate. This means being able to charge a different price to different customers. TYPES OF PRICE DISCRIMINATION PD can be of three [...]

PRODUCER BEHAVIOR: PRODUCTION SIDE ANALYSIS FIRM A firm is any organized form of production, in which someone or collections of individuals are involved in the production of goods and services. An organization that combines resources for the production and supply of goods and services. The firm is used by entrepreneurs to bring together otherwise unproductive [...]

DEMAND, SUPPLY & EQUILIBRIUM ANALYSIS (CONTINUED) EQUILIBRIUM CAN SHIFT IF Demand Curve Shifts. Supply Curve Shifts. Both Shift. This gives rise to eight possibilities. These eight possibilities can be summarized as following: D Æ , S ~, PÇ Q• D ~ , S • , P• Q• D Æ , S • , P ? [...]