Saturday, December 28, 2019
Replacement of Fossil Fuels with Nuclear Energy for...
Replacement of Fossil Fuels with Nuclear Energy for Electricity ABSTRACT Our nation is on the brink of an energy crisis and alternative means to produce electricity must be found. Fossil fuel resources are declining sharply and nuclear energy is the leading form of replacement. Our research shows that the advantages to this new energy source are extraordinary and that there are many ways to minimize its negative aspects. Due to the overwhelming advantages, we have concluded that nuclear energy is indeed the best solution to the nations energy crisis and with more advanced research and technology any future problems can be solved. INTRODUCTION The effects on the United States would be enormous if nuclear energy was to†¦show more content†¦However, it seems Nuclear Energy for Electricity 3 that with increased research and experimentation the downsides of nuclear energy could be minimized to such an extent that in the future all electricity could be produced though nuclear turbines. RESULTS/DISCUSSION There are many advantages associated with the usage of nuclear energy for electricity. While nuclear energy may seem like an expensive replacement for fossil fuels, in the long run it will cost no more than coal. Though the construction of nuclear power plants is far more expensive and time consuming than that of coal burning plants, the cost of actually running nuclear plants is far less. In the following years the total budget will even out to equal that of coal plants. The construction costs of nuclear plants comes out to be approximately two to six billion dollars (Nuclear energy in the United States, 2003) but according to studies by NEI the average production costs of nuclear energy have been decreasing in the past decade. In 1987 the price was at 3.63 cents per kilowatt-hour but by 2004 the cost had come down to 1.68 cents per kilowatt-hour (Nuclear energy and the environment, February 2005). This low price is not subject to fluctuations as it is not dependent upon foreign pol itics. While both coal and nuclear energy cost about the same in the long run, nuclear energy is devoid of theShow MoreRelatedNuclear Energy As A Power Source1322 Words  | 6 PagesThe choice of whether or not to use nuclear energy as a power source is admittedly a controversial one. When people think about nuclear energy it can often be from a negative point of view. People are concerned about nuclear energy, perhaps even rightfully so, because of the potential for deadly accidents to occur, the generation of toxic radioactive waste, and release of radiation into the environment if such waste is improperly stored. However, many consider these concerns to be overly exaggeratedRead MoreAlternative Energy Sources And The Future Of Those Sources1223 Words  | 5 PagesEnglish 150 28 September 2015 Alternate Energy Sources and the Future of those sources Some of the major on-going controversies in this decade are Keystone XL pipeline , fracking and climate change. These issues are co-related to each other and they all have one thing in common i.e energy from fossil fuels . Proponents for the Keystone XL pipeline fracking argue that it would reduce the energy dependence on foreign oil. Although they are good for the energy security of the US, it may be a step backwardsRead MoreThe Pipeline, Fracking, And Climate Change1477 Words  | 6 PagesAlternate Energy Sources and the Future of those sources Some of the major on-going controversies in this decade are Keystone XL pipeline , fracking, and climate change. These issues are co-related to each other and they all have one thing in common, energy from fossil fuels . Proponents for the Keystone XL pipeline fracking argue that it would reduce the energy dependence on foreign oil. Although they are good for the energy security of the US, it may be a step backwards in terms of controllingRead MoreNuclear Energy Essay1449 Words  | 6 Pagesdiscovery of nuclear energy began in the 1980’s with Rontgen’s discovery of the X-Ray soon after scientists unraveled the structure of the atom and made the discovery that all atoms have neutrons and protons. The last major component o the atom was discovered in 1932 the neutron. Another important discovery was made in 1938 Germany; the Germans were the first to carry out the fission of uranium atoms. The energy that fission created opened the possibility of two things, powerful weapons, and energy for civilianRead MoreThe Controversial Source of Nuclear Power1275 Words  | 5 Pages †¢ Nuclear Power is widely regarded as a viable choice in enabling sustainable development, especially when renewable energy sources remain in their growing stage of development and distribution. Nuclear Power has many benefits compared to f of However, nuclear power also remains one of the most controversial sources of energy. The debates on it are mainly based along the lines of environmental, safety and security. History †¢ Since 1939 when Hahn and Strassman found that fission released energyRead MoreNuclear Power Is The Most Viable Replacement For Fossil Fuel1590 Words  | 7 PagesHallerbach Mr. Munson 5* Honors English 7 March 2016 Nuclear Power is the most Viable Replacement for Fossil Fuel The use of fossil fuels as a primary source of power is poisoning our world, and nuclear power is just the way to stop this. Nuclear power is using the process of nuclear fission to create electricity. Nuclear fission is the splitting of a uranium atom to release massive amounts of energy. When this process takes place in a nuclear reactor, the energy is used to superheat water which is pumpedRead MoreNuclear Energy Should Not Be The Solution For Our Energy Crisis1252 Words  | 6 PagesNuclear energy should not be the solution for our energy crisis problem because of the catastrophic possibilities it may cause. About 20% of our nation’s electrical use is supplied by nuclear power per year. It is a main source of energy because of how cheap and effective it is and the government has declared it â€Å"safe†. Several countries are starting to increase their dependence on nuclear energy because of its high energy output and the power to bring electricity to everyoneâ €™s home. Although nuclearRead MoreHeat947 Words  | 4 Pagesdiscuss how energy can be converted from one form to another, giving specific examples. The seven major forms of energy are: sound, chemical, radiant (light), electrical, atomic (nuclear), mechanical, thermal (heat). Remembered as â€Å"SCREAM Today†The two states of energy are potential and kinetic. (Clarkson, edu.2008). Energy can be converted to useful forms by various means. Energy and its conversion between forms can be expressed quantitatively. When converting energy, a significantRead MoreNuclear Energy : Nuclear Power1251 Words  | 6 Pages What is Nuclear Power? Nuclear power uses nuclear fission to release nuclear energy which creates heat that can then be used in nuclear power stations to provide electricity. In nuclear fission, the nucleus splits apart generating large amounts of energy. Nuclear fusion is also an excellent energy source because it produces no greenhouse gases or combustion products which are not radioactive. The drawback is that it takes too much energy so we are sticking to nuclear fission. Nuclear power a controversialRead MoreSolar Energy : The Ultimate Renewable Resource Manish Kumar1264 Words  | 6 PagesSOLAR ENERGY IS THE ULTIMATE RENEWABLE RESOURCE                                           Manish Kumar (EE B.Tech)                                                                                                               Universal Institute of Technology, Garhi (Hisar)                                                                                                                manishboora13@gmail.com   Abstract-The energy availability is essentially needed for all living beings in life .The
Thursday, December 19, 2019
Essay on The Mortal Sin Of Pride - 838 Words
The Mortal Sin of Pride nbsp;nbsp;nbsp;nbsp;nbsp;In The Cask of the Amontillado; Edgar Allan Poe uses symbolism, imagery, and the atmosphere to help fully explore the sinful nature of pride and its serious consequences within the short story. The character of Fortunato is the main capsule for the explanation of the dangers of being prideful of ones self. By examining Poes use of symbolism, images, and effective backdrops around Fortunato the reader may begin to understand the importance of the deadly sin of pride. nbsp;nbsp;nbsp;nbsp;nbsp;Poe deliberately explains to the reader early on within the short story, The Cask of the Amontillado;, that Fortunato takes extreme pride in himself on his connoisseurship in wine;†¦show more content†¦Furthermore the reader can clearly see that Fortunato must have said what he did out of pride in his wonderful abilities. nbsp;nbsp;nbsp;nbsp;nbsp;Given the knowledge that the reader understands Fortunato and the simple fact that he is driven by opportunities to boost his egotistical self. Fortunatos hidden motive to satisfy; (153) Montresor doubts; about the cask of Amontillado is to obtain bragging rights;, the ability to insult Montresor about how he was taken by a merchant that attempted to passed imitation Amontillado off as actual pure Amontillado. Fortunatos high sense of pride is one character flaw that will eventually leads to the reason for Montresors rage for revenge with impunity; (153). nbsp;nbsp;nbsp;nbsp;nbsp;Fortunatos pride shines brightly throughout him, even down to his clothing. During the supreme madness of the carnival season; (153). Fortunato was wearing motley; (153) or multicolor clothing in Poes short story displaying himself with pride and energy for the carnival. Fortunato wears brightly multicolor clothing because he is proud of himself, his abilities, and his achievements. Standing out in crowds of people and having them recognize him, as Fortunato; would only boost his overpowering sense of self-pride. In reading, Fortunato appears to be dress in clothing that a Jester might wear as part of his uniform. With the multicolor tight-fittingShow MoreRelatedDostoevsky s Crime And Punishment1483 Words  | 6 PagesWorks in Translation: The Manifestation of Deadly Sin and its Physical Damages in Crime and Punishment Christianity defines deadly sins as those which, when unrepented, cause the eternal damnation of the soul. This idea is a truth to any devout Christian, including Fyodor Dostoevsky. Additionally, in his novel Crime and Punishment, Dostoevsky argues that mortal sins condemn not only the soul, but also the physical body. He uses the mortal sins of pride, lust, and sloth in Katerina, Svidrigailov, andRead MoreHester Prynne In The Scarlet Letter Essay906 Words  | 4 PagesD.H. Lawrence’s criticism, â€Å"On the Scarlet Letter,†criticizes Nathaniel Hawthorne’s portrayal of Hester Prynne in The Scarlet Letter. Lawrence finds fault in how Hester’s sin of adultery is glorified in the novel. D.H. Lawrence argues that Hawthorne mischaracterizes Hester Prynne as a heroine by using choppy syntax, biblical allusions, and a sarcastic tone. One rhetorical device Lawrence effectively uses to argue that Hester is mischaracterized as a heroine is choppy syntax. This is evident whenRead MoreTragic flaw in Hawthorne’s â€Å"The Birthmark†Essay1201 Words  | 5 Pagesattitudes performed by Aylmer, the hero. The tragic flaw in â€Å"The Birthmark†is addressed to the religion and science, specifically the morality and sin (to defy nature, to play God), highlighted issues in novels and short stories of the American writer, â€Å"The theme of sin, especially secret sin. Hawthorne was fascinated with the idea of sin and punishment†(Smith, 2011). Aylmer, the hero is a scientist and philosopher passionate about his labor, until one day he develops a passion for a womanRead MoreBible Stories598 Words  | 3 Pagesdefinition of Sin. In Abrahamic contexts, sin is the act of violating Gods will. Sin can also be viewed as anything that violates the ideal relationship between an individual and God; or as any diversion from the ideal order for human living. To sin has been defined as to miss the mark. What are the 7 Capital Sins? Pride – Pride is an unrestrained and improper appreciation of our own worth. This is listed first because it is widely considered the most serious of the seven sins; pride often leadsRead MoreChuks1022 Words  | 5 PagesCatholic Church emphasized the issue of seven capital sins knowing fully well that it is a cankerworm to spirituality. Thus, Bishop Fulton Sheen calls them the seven pall-bearers of the soul and gives them the following names: self-love, inordinate love of money, illicit sex, hate, jealousy, over-indulgence and laziness.(FULTON SHEEN, The Seven Capital Sins) Thomas Aquinas called them â€Å"vainglories†in his Summa Theologica (1-11, 84:4) Pride is a spiritual cancer that eats and consumes the vitalRead MoreThe Seven Deadly Sins Of Othello1086 Words  | 5 PagesThe Seven Deadly Sins of Othello Throughout church history, the Seven Deadly Sins, or Seven Mortal Sins as they are also known, have been seen as those that threaten everlasting life. In early times, a list was help for the people who could not read (Douglas). One cannot help but to see these sins throughout the drama of Othello. Christians in the past used the seven deadly sins to instruct on how to live a holy life and to show how easily we are inclined to a sin nature. Shakespeare incorporatesRead MoreIs Oedipus Rex a Story of Tragedy or Fate? Essay1272 Words  | 6 PagesOedipus who Trilling sees as being admirable, wise, and courageous with the flaw of his pride, Trilling ultimately says that the tragic disaster is not brought upon by Oedipus’ flaw. Closer inspection of the requirements for a hero in a tragedy shows that Oedipus does not fulfill the aspect of bringing the disaster through a characteristic of his own, and therefore Oedipus Rex is not a tragedy of fate. Oedipus’s pride caused him to kill Liaos and fulfill a foreseen prophecy, but he acted like any otherRead MoreThe Scarlet Letter, By Nathaniel Hawthorne1560 Words  | 7 PagesSin and innocence both are found evident in life, with one marking the dark transgression imprinted upon every aching being and the other embellishing the pure, lighter essence every creature has at birth. The two are sharp contrasts that may seem incapable of holding together a single complex being, yet are found in all humans and generally constitute the basis of morals and human nature. Nathaniel Hawthorne’s The Scarlet Letter beautifully weaves a tale of blind revenge, unintentional hypocrisyRead More Essay on The Holy Bible - Role of God in the Book of Job1131 Words  | 5 Pages           As the book opens, Job is Gods pride and joy, so to speak. Job was free of sin, he feared God and shunned evil(1:1). God apparently thinks higher of Job than any other mortal. This is evidenc ed when he tells Satan that There is no one on Earth like him; he is blameless and upright . . .(1:8). When Satan questions Jobs faith God allows him to test Job, as if to show off his favorite servant. This is an almost human quality in God--pride. Satans test involves the total destructionRead More Summary of Ethan Brand by Nathaniel Hawthorne Essay705 Words  | 3 PagesSummary of Ethan Brand by Nathaniel Hawthorne In the short story Ethan Brand, Ethan Brand lusts for knowledge that leads him on a quest for the unpardonable sin. The unpardonable sin, as one may interpret, is pride and self-gain. It is a loss of the brotherhood with man, and a loss of respect for God. Once this knowledge is gained, he faces alienation from all those around him. In searching for this sinful knowledge, Ethan Brand leads himself into intellectual isolation. He cannot
Wednesday, December 11, 2019
Simon Kimmes (920 words) Essay Example For Students
Simon Kimmes (920 words) Essay Simon KimmesThe Benefits of HuntingHunting is a sport that is loved by some, overlooked by many and opposed by few. In the world today, the popularity of hunting has declined by an astonishing amount, and now more than ever people are opposing hunting. We as a people cannot let that occur; hunting plays a vital role in our nation because it benefits the economy, conservation efforts, and animal populations. Just like any other sport in America there are people who actively participate in hunting. According to the U.S. Fish and Wildlife about four percent of the United States population hunt that amounts to about12. 5 million people. (Hunting statistics and Economies) These 12.5 million hunters support the economy through buying a variety of item like: guns, bows, clothes, vehicles, ammunition, gas, food, hunting dogs and tags. Through purchasing these items, all the hunters in America spent a total of twenty-four point seven billion dollars in two thousand and one. We will write a custom essay on Simon Kimmes (920 words) specifically for you for only $16.38 $13.9/page Order now Hunters alone spent six hundred and five million dollars on their hunting dogs in 2001, which is ninety-two million dollars more than skiers spent on their skiing equipment. On average, a single hunter spends approximately one thousand nine hundred and seventy-six dollars on hunting every year. The money that is spent by hunters supports over half a million jobs. (Economic Importance of Hunting in America 1-11)The image of the typical American hunter was once an image of a respectable person, unfortunately, it has now decayed to an image of a group of drunken bums driving around in the forest shooting anything and everything they see. Why in some instances this may be true, it is more of an exception than a rule, in fact many hunters stand for and support conservation efforts. For many, this may seem like an oxymoron, after all hunting is killing and conservation is preserving. As paradoxical as it may seem, if hunting were to disappear, a large amount of the funding that goes to restore all sorts of wildlife habitat, game and nongame species alike, would disappear, (As Hunting Declines, Conservation Efforts Suffer). Sportsmen and women have historically funded most of the conservation efforts in America. (Hunter and Conservation). Organizations such as Ducks Unlimited and Pheasants Forever are two organizations that are devoted to the protection and use of lands for hunter and the public. Ninety percent of both these organizations are supported by hunters (Pheasants Forever Land Acquisition). Combined, these two organizations have conserved over twelve point five million acres (Ducks Unlimited and Hunting). However, hunters are not the only people who benefit from the land that is conserved by these conservation organizations, The same open spaces that hunters use and in which wildlife thrive are just as available to the non-hunting public for its enjoyment and recreation. (Hunter and Conservation).Hunters also help to support animal populations. For many people, this is also an oxymoron, because hunters kill animals and how would this benefit the animal populations? Wild animals arent something that we can save for the future, as a result if there are too many animals nature usually takes over by starving the animals to death (Hunter and Conservation). That is why hunters have certain rules pertaining to what animals can be hunted and the quantity of animals that can be harvested. Through these rules hunters can help the animal populations stay at a reasonable number so there is a plentiful amount of food and optimal living conditions. Because of the food and optimal living conditions animal populations havent just grown they have exploded! As a result, Many species of wildlife that are hunted are not only secure today, but even, in many instances, far more numerous than they were before the turn of the last century. (Hunter and Conservation). .uea5a7bf83459e6dbd6b51b551e13c819 , .uea5a7bf83459e6dbd6b51b551e13c819 .postImageUrl , .uea5a7bf83459e6dbd6b51b551e13c819 .centered-text-area { min-height: 80px; position: relative; } .uea5a7bf83459e6dbd6b51b551e13c819 , .uea5a7bf83459e6dbd6b51b551e13c819:hover , .uea5a7bf83459e6dbd6b51b551e13c819:visited , .uea5a7bf83459e6dbd6b51b551e13c819:active { border:0!important; } .uea5a7bf83459e6dbd6b51b551e13c819 .clearfix:after { content: ""; display: table; clear: both; } .uea5a7bf83459e6dbd6b51b551e13c819 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uea5a7bf83459e6dbd6b51b551e13c819:active , .uea5a7bf83459e6dbd6b51b551e13c819:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uea5a7bf83459e6dbd6b51b551e13c819 .centered-text-area { width: 100%; position: relative ; } .uea5a7bf83459e6dbd6b51b551e13c819 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uea5a7bf83459e6dbd6b51b551e13c819 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uea5a7bf83459e6dbd6b51b551e13c819 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uea5a7bf83459e6dbd6b51b551e13c819:hover .ctaButton { background-color: #34495E!important; } .uea5a7bf83459e6dbd6b51b551e13c819 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uea5a7bf83459e6dbd6b51b551e13c819 .uea5a7bf83459e6dbd6b51b551e13c819-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uea5a7bf83459e6dbd6b51b551e13c819:after { content: ""; display: block; clear: both; } READ: Meaning of Life Essay One such species is the white-tailed deer. In 1900 the white-tailed deer population was estimated at less than 500,000 deer, then because of the rules that hunters had the deer population increased dramatically. Today there are over 36 million white-tailed deer in America and they are now more abundant than they have ever been. Similar events have occurred to other species such as the pronghorn antelope, rocky mountain elk, and wild turkey. (Economic Importance of Hunting in America). Like baseball and apple pie, hunting is an American tradition shared by young and old, rich and poor, regardless of social or economic status. Hunting is not Democratic or Republican; it knows no geographic or congressional boundaries. Its history and heritage crosses all racial and ethnic boundaries. (Economic Importance of Hunting in America). Hunting has shaped the world that we live in. If we were to stop hunting, America would suffer, because hunting is extremely beneficial to the economy, conservation efforts and animal populations. Hunting is part of our heritage, and we simply cannot throw it away. Works CitedUnited States. Fish and Wildlife Service. Hunting statistics and Economies. 2008. Web. .United States. Fish and Wildlife Service. What do hunters do for conservation? 2007. Web. .Economic Importance of Hunting in America. International Association of Fish and Wildlife Agencies, 2002. Web. 21 Mar 2012. . The New York Times. As Hunting Declines, Conservation Efforts Suffer. The New York Times 12/12/2010. Web. 21 Mar 2012. .Pheasants Forever. Pheasants Forever Land Acquisition. Pheasants Forever, n.d. Web. 21 Mar 2012. .Ducks Unlimited. Ducks Unlimited and Hunting. Pheasants Forever, n. d. Web. 21 Mar 2012. . The Hunter and Conservation. National Shooting Sports Foundation, n.d. Web. 21 Mar 2012. .
Wednesday, December 4, 2019
Journal Of Business And Management Studies - Myassignmenthelp.Com
Question: Discuss about the Journal Of Business And Management Studies. Answer: Introduction Every organization wants to increase its productivity and manage the time and resources taken by each activity. Nestle Company is one of them who always want to improve its productivity and profit. Nestle is known as the largest company of food and beverages and a well-known brand recognized across the world. This report is going to be prepared in order to identify whether the Time-Driven Activity-Based Costing (TDABC) will be suitable for the process and function of the business. The report will provide the brief description of the Nestle Company along with the model of Time-Driven Activity-Based Costing (TDABC) and its features. Further, the report will differentiate between the Activity-based Costing (ABC), Traditional Costing, and Time-Driven Activity-based Costing (TDABC). Company Profile Nestle is an international company dealing in the sector of food and beverages. Headquarter of the company is in Vevey, Switzerland. It is known as the worlds biggest company of food, evaluated by metrics and revenues, since 2014. In 2014, the company was ranked on No. 72 by the Fortune Global 500 and in 2016; it was ranked on No. 33 in the Forbes Global 2000 which involve the list of biggest companies. The product line of Nestle includes breakfast cereals, Maggie, baby food, tea and coffee, medical food, ice cream, confectionery, bottled water, snacks, pet foods, dairy products and frozen food (Nestle, 2018). Twenty-nine brands of Nestle have yearly sales over CHF1 billion, comprising Nesquik, Maggie, Nespresso, Vittel, Nescafe, Stouffers, and Kit Kat. Company operates in 194 countries with 447 factories, and 330,000 employees. Nestle company is the major shareholder of worlds biggest company of cosmetics i.e. LOreal. Purpose of Nestle The purpose of Nestle is improving the life's quality and contributing to a better and improved future. They want to contribute in shaping a healthier and better world by encouraging society to have better and healthier lives. This is their way to contribute to society and fulfill their corporate social responsibilities and confirming the success of the company for long-term (Nestle, 2018). Values of Nestle The values of Nestle are imitated by their way of pursuing business; they always follow and respect the rules and regulation implemented by the government. They always give equal respect to the people with whom they work. Strategy of Nestle In today's scenario nutrition act as an important aspect of everyone's life. The strategy of the Nestle Company is focused towards delivering various benefits to every individual through the products and services they offer. The company is working hard from last 150 years and now they have succeeded in attaining the top position by anticipating and understanding the society needs, and constantly familiarizing themselves to grab the presented opportunities (Nestle, 2018). The fast-changing expectations and needs of the society reconfirm the strength of our wellness, health and nutrition strategy. The world is at the point of change. The rapidity, strength and the range of change are extraordinary. The digital disturbance is redesigning the whole industry, relations with the companys retailers and suppliers, and customers. Technology and science developments are providing opportunities to the Nestle Company in order to play a major role in considering the challenges faced by the society. In the world there are millions of people who do not receive proper nutrition, it the duty of Nestle Company to help them and provide proper solutions (Nestle, 2012). Strategic Roadmap Of Nestle Source [https://www.nestle.com/aboutus/strategy] Time-Driven Activity-Based Costing (TDABC) The Time-Driven Activity-based Costing (TDABC) method is a new technique which is introduced for overcoming the problem with Activity-based Costing. Activity-based Costing (ABC) has supported many organizations in recognizing necessary opportunities of profit and cost enhancements by re-presenting the loss-making customer relationships, procedure developments on the shop floor, less cost of the design of the product, and modernized product diversity (Ayvaz and Pehlivanli, 2011). The method provides probable large scale opportunities for the companies. Luckily, the explanation is now conceivable by a method which is named as time-driven activity-based costing (TDABC). This method has helped many companies who have implemented this method in their system. In this new method, management of the company can directly evaluate the demand of the resources obligatory by every activity, deal, service, product or transaction rather than first allocating the cost of the resource to the activities and then to customers or products (Basuki, 2014). For every resources group, estimation is required only for two parameters: per unit cost of delivering capacity of resources and the unit time consumption of capacity of resources by customers, products, and services. At the same time, the Time-Driven Activity-based costing or (Time-Driven ABC) offers precise rates of cost-driver by permitting unit times to be projected even for multifaceted, particular dealings (Kaplan and Amderson, 2007). Assessing the per time unit cost of capacity- As an alternative to measure the time spent by the employees, for this the managers will firstly identify the practical capacity of the supplied resources as a percentage of hypothetical capacity. There are numerous ways to identify this. According to the thumb rule, it can be easily assumed that applied capacity is 80 to 85% of hypothetical full capacity. Therefore, if a machine or employee is ready to do the job of 40 hours for per week, then its applied capacity for per week is 32 to 35 hours. Accessing the unit time of events- After calculating the per time unit cost of delivering assets to the activities of the business; managers then determine the time consumed by a unit of each activity. These figures can be attained by direct observation or by employees interviews. There is no requirement of the surveys, even though employees survey might help in big organizations. It is necessary to strain, however, the matter is not the time spend by employee completing an activity but the time taken to finish one unit of particular activity. Once, again accuracy is not dangerous; bumpy accuracy is enough (Kaplan and Anderson, 2007). Driving the rates of the cost drivers- The rates of the cost-driver can be computed by multiplying the variables i.e. two input variables, it is just has been projected. Examining and reporting costs- The managers of the company are permitted by the time-driven activity-based costing that their cost can be reported on a continuing base in a mode that discloses the activitys cost and time spent on those activities. Updating the model- The Time-driven activity-based costing (TDABC) method can be updated by the managers of the company to show variations in operating circumstances. In order to add more activities in a department, there is no need for personnel interview, they can just guess the required unit time for every activity. The rates of the cost-drivers can also be updated by the managers. Time Equation to Capture Complication It has been assumed simply that every order or transaction of a specific type are similar and need the same time duration to process. But Time-Driven Activity-Based Costing doesnt ask for this explanation. It can accommodate the difficulty of real-world processes by integrating time equations, a different and attracting characteristics that allows the method to imitate how order and action characteristic which affects the time of processing (Kaplan and Anderson, 2006). Time equation highly simplifies the assessing procedure and creates a far more precise cost model which will make the possibility of consuming traditional ABC techniques. The key point is that the transaction can simply become complex, management of the company can normally recognize how they are becoming complicated. The variable elements that influence most of the activities can frequently state and classically record in the information system of a company. Features of Time-Driven Activity-Based Costing (TDABC) Time-Driven Activity-based Costing (TDABC) is less expensive and can be easily installed in the functioning of the business and can also be maintained properly. There is no need to make additional expenses in this method. Multiple time driver methods are implemented in this new method which will hold the complexity of the Nestle Company in an improved way. With the support of Time-Driven Activity-based costing the costing process becomes simple because it supports the organizations management in eliminating events like interviews and survey and use applicable and significant information. Organizations can enhance their system of cost management by explaining their process capacity and application of cost and effectiveness of the orders, customers or products. Time-Driven Activity-based Costing method is different because it uses time equation in which the consumption of time is evaluated on each activity. This new approach identifies the opportunities for the competencies of the process and supervision of capacity. Time-Driven Activity-based Costing (TDABC) method is an exact and profit making method because it is fast and simple to construct. Difference between Time-Driven Activity-Based Costing (TDABC) and Activity-Based Costing (ABC) Time-Driven Activity-based Costing (TDABC) Activity-based Costing (ABC) A method which simplifies the process of costing by removing the employees survey and interview needs for assigning the activities with resources cost is known as Time-Driven Activity-based Costing (TDABC). Activity-based costing or Traditional ABC is considered as a methodology which recognizes the activities of an organization and allocates the cost to every activity along with the resources to every service and product as per the genuine consumption by each (Johnson, 2018). Under the time-driven activity-based costing (TDABC) the maximum priority is given to the time driver for assigning a cost to every services and product (Hooze and Hansen, 2014). Under Activity-based costing (ABC) maximum priority is given to cost drivers for assigning a cost to every product and service (zyrek and Din, 2014). Difference between Time-Driven Activity-Based Costing (TDABC) and Traditional Costing Time-Driven Activity-based Costing (TDABC) Traditional Costing The method which assists in identifying the capacity of each department and allocates the cost of the capacity of integrated resources over the cost object maintained on the required time element in order to start an activity is known as Time-Driven Activity-based Costing (TDABC). The assigning of production overhead to services or products depending on the volume metric like production machine hours or direct labor hours is known as Traditional Costing (Accounting Coach, 2018). The Time-Driven Activity-based Costing (TDABC) method is very capacity sensitive and evaluates the activitys standard cost with the support of standard rates. The traditional costing method allocates indirect cost provisional to the volume. It results in products cost overvaluation with high volume; on the other side services or products become underrated which are of less volume (Houghton Mifflin Harcourt, 2016). The new approach is cost saving as it does not involve more cost in its installation and implementation, along with this it includes all different features of a particular activity. Traditional costing method takes other cost drivers into account that might be able to increase the cost of the item (Wilkinson, 2013). Reason for why Time-Driven Activity-Based Costing is suitable for Nestle Company The Nestle Company involves various departments in its function of the business who implement various procedures and activities for appreciating the productivity and growth of the business. This new approach is created for this type of organization so that the management can handle every activity and function. Time-Driven Activity-based Costing (TDABC) is cost saving and easy to implement. Therefore, this method will not disturb the budget of Nestle Company. This method is an improved version of Traditional Activity-based Costing and it supports company in guessing the basis demand of every single customer, product and procedure with the support of necessary time to attain the events and the cost unit time capacity. Conclusion In the conclusion, it can be suggested that Time-driven Activity-based Costing (TDABC) is an effective technique or method which estimates the time and cost of the activities implemented in an organization. This new approach is suitable and appropriate for Nestle Company because it will help them in increasing their businesss productivity. Along with this it is an inexpensive method and can be easily installed. As Nestle is the leading company in the sector of food and beverages, therefore, it is important for the company to have an improved and enhanced costing system. The above report has explained in detail about the model of Time-Driven Activity-based Costing and its features along with the brief description of the Nestle Company. The report has also identified some dissimilarity between the Time-Driven Activity-based Costing (TDABC) and Activity-based Costing (ABC) and the differences between Time-Driven Activity-based Costing (TDABC) and Traditional Costing. 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Nestle, 2012, Nestl in society, Accessed on: 12 January 2018, Accessed from: https://www.nestle.com/asset-library/documents/library/documents/corporate_social_responsibility/nestle-csv-full-report-2012-en.pdf Nestle, 2018, About the product, Accessed on: 12 January 2018, Accessed from: https://www.nestle.in/brands/mpn/ceregrow/about-the-product Nestle, 2018, About us, Accessed on: 12 January 2018, Accessed from: https://www.nestle.com/aboutus Nestle, 2018, Strategy, Accessed on: 12 January 2018, Accessed from: https://www.nestle.com/aboutus/strategy zyrek, H., and Din, Y., 2014, Time-driven activity based costing, International Journal Of Business And Management Studies, 6(1), pp. 97-117. Wilkinson, J., 2013, Activity-based Costing (ABC) vs Traditional Costing, Accessed on: 12 January 2018, Accessed from: https://strategiccfo.com/activity-based-costing-abc-vs-traditional-costing/
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