Survey on Teenagers Pocket Money Essay Example for Free

Survey on Teenagers Pocket Money Essay Pocket Money is not just representing how much money that teenagers’ get; it also represents teenagers’ buying tendency, marketing size of teenagers, their finance method and possible reasons of stress because of financial problem. It’s worth to make a statistic on the topic teenager’s pocket money, for the reference of further studies on social research. In this report, the following data would be collected and analyzed. Firstly, we want to compare the pocket money teenagers how to spend their pocket money in past and that in nowadays (e. 2006 vs. 1999), then we should reveal the differences by our statistic figures like mean , mode etc, so that we can know whether they get more money or not, and other statistical information. Secondly, we also are interested in the relation between the teenagers’ ages and the amount of money they get, and then how this found out changes from 1999 to 2006. Thirdly, we want find what kind of things teenagers prefer to buy and whether they can handle their financial overload effectively by themselves. After that, we will try to find the reasons for those phenomena and then generate the conclusion. Objective To build up an online survey, to collect sample data about teenager’s pocket money, how they use it, and any financial problem they faced. Questionnaires In this project, we use internet survey instead of questionnaire survey in collecting samples from teenagers. There are few reasons for us to choose such survey method: First, teenagers are very sensitive to the money they own and they feel too nervous when other people ask about the amount of their pocket money. For those results, they prefer to refuse to answer this questionnaire by face to face method. Secondly, teenagers have a low incentive to do the survey on the street; they think it is wasting their time. This increases the difficulties in sampling from them directly. Thirdly, as a result, we choose internet survey which should be a more effective sampling method since teenagers are easier to access to computers and more willing to answer questionnaire as they feel that they can help other people. The online survey http://freeonlinesurveys. com/rendersurvey. asp? id=o2ve66ut8bs9gh7252868 was posted to HK newsgroup and forums to invite teenagers to fill the online survey since 1st December, 2006. We end the online survey and collected the data at 20th December, 2006. The Hard Copy of the online survey as follows: Result At 20th December, 2006, we collected 111 valid online questionnaires. Result of each question is shown respectively: Over 80% interviewers are in-range below 24, which stated that most interviewers are student. It shows most teenage have around $1000-$2000 pocket money, where around 36% teenage have $1001-$1500 pocket money. Around 34% students have $1501-2000 pocket money per month, which is second highest. 68% teenagers gain their pocket money from parents, where 29% teenagers gain their money pocket by part time job. The others which stated they gained by investment or gambling. But it seems there’s not reliable. In this chat rank 5 represent the highest value option to interviewee while rank 1 is refer to the lowest value option, it show that about 50% of teenagers put ‘studying’ as the last priority(rank 1) in their consumption, after that it will come to ‘saving’ at 25 %. On the other side, ‘entertainment’ is the option which people most willing to spend their money on it and it take 30% in rank 5, beside that ‘dressing ‘also an option that’s less prefer 25% in rank 5. 32% students think that they spent more than they get, which need to pay attention. In the 36 student who said that they spent more than they get, 52% of them would borrow from the money, 42% would borrow from friend. It is need to be concern that 6% of teenagers would borrow from financial company. 37% teenagers think that they can’t handle their financial problem effectively. This data seems reliable as from this survey, 32% cannot control their expanses. Calculation As it is important of founding out statistic factors of nowadays teenagers’ pocket money, calculation of sample mean, mode and median , standard deviation and coefficient of skewness and coefficient of variation are calculate as follows Assumption: Since we don’t know the exact number of â€Å"below $500† and †above 2000†, also number of this two sample is little compare with sample size, so these figures are neglect when calculation. Group Mean: = ? fimi/? fi = (750. 5*29+1250. 5*40+1750. 5*38) / 107 =1292. 5 Median = (107/2) = 53. th, so we know that the median should be in the class 1001-1500 = Lm + [(n/2-Cum Freq. )/f]*w) =1000. 5 + [(107/2 – 29) /40]*500 =1306 Mode Modal Class: 1001-1500 =Lmo+ (d1/d1+d2)*w =1000. 5+ (11/11+2)*500 =1423. 58 We are considering 107 samples. So sample standard deviation = 395. 2638 Coefficient of skewness =3(mean-media n)/standard deviation =3*(1292. 5-1306)/395. 2638 =-0. 1025 The curve is slightly skew to the left Coefficient of variation = standard deviation/ mean *100% = 395. 2638/1292. 5*100% =30. 5813% Discussion From the data posted by education department, mean of teenagers’ pocket money are 151*4 = $604 per month. Compared with sample mean we found, difference between two samples is 1292. 5-604=$688. 5. The difference due to change of HK economic environment and more teenagers earn their pocket money from attending part time job. It is advised that performing a larger survey if analyzing the relationship of teenagers and their pocket money more deeply. According to the survey data, it points out that teenagers are more concerned in materialism spending. And also, over 32% teenagers spending their pocket money is always greater than income, and teenagers are lack of ability to have their personal planning. Lower than 10% teenagers think that saving is important when they received pocket money. They spend a lot either entertainment or dressing. The government should pay more attention to this problem, and educate teenagers how to spending their money effectively, and prevent they will have the thought of ‘Using the future money’. Hong Kong teenagers usually have some part-time jobs income, to satisfy their needs on materialism. The main reason influences teenagers’ shopping style is brand, which is a teenager like to pursuit for famous brand name. Conclusion Via this survey, basically we has the expected proposes. We understand how teenagers get their pocket money and how to spend it, and also understand consumer behavior, including their mental characteristics. As a studies’ data, it can be used in the further studies in the social science. However, since the quantity of questionnaire is relatively few, so the result cannot fully reflect the fact of pocket money spending of teenagers.

Systems Development Life Cycle

Systems Development Life Cycle Introduction SDLC, The systems development life cycle (SDLC) is a conceptual model used in project management that describes the stages involved in an information system development project, from an initial feasibility study through maintenance of the completed application. Hence an array of system development life cycle (SDLC) models has been created: Fountain, Spiral, rapid prototyping, synchronize and stabilize and Incremental. Although in the academic sense, SDLC can be used to refer to various processes followed during the development of software, SDLC is typically used to refer to the oldest of the traditional models a waterfall methodology. Software Engineering Process The SDLC supports a list of important phases that are essential for developers, such as planning, analysis, design, and implementation, and are explained more in detail later in this report. Traditionally the waterfall model was regarded as the original: which adhered to a sequence of stages in which the output of each stage became the input for the next. No definitive models exist, but the steps can be describe and divided as follows: Project planning, feasibility study, Initiation: A feasibility study is a quick examination of the problems, goals and expected cost of the system. Projects are usually evaluated in three areas of feasibility: economical, operational, and technical. In addition, it is also used as a guide to keep the project on track and to evaluate the progress of project (Post Anderson, 2006). Thus the goal of the feasibility studies is to evaluate alternative systems solutions and to propose the most feasible and desirable business application for development, (Obrien Marakas, 2006) states that the feasibility of a proposed business system can be evaluated in four major categories Organizational Feasibility: An illustration of how a business supports the strategic business priorities of the organization. Economic feasibility: Identifies whether expected cost savings, increase revenue, increase profits and reductions in required investments will exceed the cost of developing and operating a proposed system. Technical feasibility: can be demonstrated if reliable hardware and software capable of meeting the needs of a proposed systems can be acquired or developed by the business in the required time. Operational feasibility: can be measured by the ability and willingness of management, employees, customers, suppliers and others to operate, use, and support a proposed system. for example if Tescos was to change its software platform at the tills to something entirely different, employees may begin to make to many errors and find ways around using it or just all together quite, thus it will fail to show operational feasibility. Requirements gathering and Systems Analysis: (Hawrzyszkiewycz 2004) This step defines the proposed business solutions and any new or changed businesses processes. The goal at this stage is to find any problems and attempt to fix the system or improve its productivity and efficiency. The technique here is to break the system into smaller pieces as it is easier to be explained to others and can be split up amongst different development team. A draw back of this though is that it takes time and effort to reintegrate all of the pieces (Post Anderson, 2006). Systems design: Functions and operations are described in detail during the design stage, including screen layouts, business rules, process diagrams and other documentation. The output of this stage will be to describe the new system as a collection of modules or subsystems. (Hawrzyszkiewycx 2004) states that system designs is a two step process, Broad design: which indentifies the main architecture of the proposed system which may include the language use to develop the databases, network configurations, software requirements and whether programs are to be developed using internal programmers or external contractors. Detailed design: only after the design phase is completed the detailed design phase can be initiated, during this phase the database and program modules are design and detailed user and system interaction procedures and protocols are documented. Build: Software developers may install (or modify and then install) purchased software or they may write new or custom design programs (Senn 1989). Just like the design phase, this phase is broken up into two separate sub phases, development and implementation. During the implementation phase the components built during the development are put into operational use. Usually this means that the new and old systems run parallel until users are trained in system operations and existing processes converted to the new system. (Hawrzyszkiewycz 2004) Testing: During the integration and test stage, the software artefacts, online help, and test data are migrated from the development environment to a separate test environment. At this point, all test cases are run to verify the correctness and completeness of the software. Successful execution of the test suite confirms a robust and complete migration capability. In addition, reference data is finalized for production use and production users are identified and linked to their appropriate roles. The final reference data (or links to reference data source files) and production user list are compiled into the Production Initiation Plan and the system is used experimentally to ensure that the software does not fail, also the code is tested iteratively at each level (Senn 1989). Installation, Implementation and Deployment: Implementation is a vital step in the deployment of information technology to support employees, customers, and other business stakeholders, the system implementation stage involves hardware and software acquisition, software development, testing of programs and procedures, conversion of data resources and additionally involves the educating and training of end users and specialist who will operate the new system. All together this is the final stage where the project is finally used by the business (Obrien Marakas, 2006). Maintenance: Once a system is fully implemented and is being used in business operation, the maintenance function begins; this involves the life of the system which may include changes and enhancements before its decommissioning. (Obrien Marakas, 2006) states that the maintenance activity includes a post implementation review process to ensure that newly implemented systems meet the business objectives establish for them. (Hawrzyszkiewycx (2004) supports the argument that maintenance is required to eliminate errors in the system during its working life and to improve the system in the light of changes by monitoring, evaluating and modifying operational business systems to make desirable or necessary improvements. Evaluation and Reason for Adopting SDLC for a small Pc Application The adoption of the SDLC for the development of a small application on a pc will not be appropriate because the SDLC is just what is says it is the Life Cycle of the system software. The SDLC is a process use to manage time and resources on a project, from the identification of a need for the system Initiation) to rolling it out to the user (Implementation) to de-supporting or no longer needing it (Disposition), Each phase of the SDLC requires documentation, reporting, and approval. This assures that a project cannot get out of hand either by changing the direction or becoming a financial black hole and the project sponsors are aware at every step of exactly what is going on as it is documented. Therefore it is reasonable to assume that the development of a small application on a pc does not require the adoption of the SDLC model whereas a large systems which have teams of architects, analysts, programmers, testers and users must work together to create the millions of lines of cust om-written code that drive enterprises today, will without a doubt need to adopt an SDLC solution to manage the resources of such a project. Evaluation Of the Traditional SDLC Strengths Limitations The Waterfall Model The waterfall model is the most classical sequential life cycle; each phase must be completed in its entirety before the next phase can begin. (Post Anderson, 2006) states that one advantage of the SDLC is the formality aspect which makes it easier to train employees and to evaluate the progress of the development as well as ensuring that steps are not skip, such as user approval, documentation and testing. In addition with eighty percent of MIS resources spent of maintenance, adhering to standards whilst building the system makes it easier to modify and maintain in the future because of the documentation generated and the sustain consistency, however the formality of the SDLC approach can be problematic as it increases the cost of development and lengthens the development time (Post Anderson, 2006) The formality of the SDLC method also causes problems with projects that are hard to defined, unlike newer methods like Agile which helps software development teams to respond to the unpredictability of building software through incremental, iterative work cadences, known as sprints (Cohn, Mike 2006). Agile Methods aim at allowing organizations to deliver quickly, change quickly and change often. While, agile techniques vary in practice and emphasis, they share common characteristics, including iterative development and a focus on inter-action and communication. Maintaining regularity allows development teams to adapt rapidly to changing requirements, and working in close proximity, focusing on communication, means teams can make decisions and act on them immediately, rather than wait on correspondence. It is also important to reduce non-value adding intermediate artefacts to allow more resources to be devoted to product development for early completion. The SDLC however works best if the entire system can be accurately specified in the beginning. That is, users should know what the system should do long before the system is created. (Post Anderson, 2006) further explains that because of the rigidity of the SDLC, the development of more modern applications are difficult, hence the combination of existing SDLC models and the creation of other alternatives models and methodologies are adopted as outlined later in this paper. Advantages Easier to use. Easier to manage because of rigidity Phases are completed at specific phase intervals Requirements are very well understood. Disadvantages scope adjustment during the life cycle can kill a project Working software is not produced until the life cycle is complete. Not suited for long and ongoing projects. In appropriate where requirements are at a moderate to high risk of changing Alternative development mythologies One management advantage of the traditional SDLC method is the sequential series of tasks; on the other hand using the traditional SDLC has many drawbacks. For example, when adopting a traditional SDLC methodology, the rigid chain of phases may subsequently make it impossible for developers to improved ways to provide functional requirements as the project is being built, which results in the designers redoing their work. Instead programmers should be involved in the planning and design phases, so that they may be able to identify improvements much earlier in the process, thus enhancing the effectiveness of project activities, (FFIEC IT Handbook (2009). Development solutions such as iterative and Rapid prototyping address many of the shortcomings of a traditional SDLC. And a brief description of two the newer methodologies are outlined below along with some advantages and disadvantages for comparison purposes. Agile Development Model Agile software development is a conceptual framework for undertaking software engineering projects. Agile methods attempt to minimize risk and maximize productivity by developing software in short iterations and de-emphasizing work on secondary or interim work artefacts. The key differences between agile and traditional methodologies are as follows: Development is incremental rather than sequential. People and interactions are emphasized. Working software is the priority rather than detailed documentation. Customer collaboration is used, rather than contract negotiation. Responding to change is emphasized, rather than extensive planning. Rapid Prototyping model Rapid prototyping is a process for creating a realistic model of a products user interface (Najjar, L. J. (1990) ,Using rapid prototyping, you model the look and feel of the user interface without investing the time and labour required to write actual code (Najjar, L. J. (1990). Advantages Saves time and money Promotes consistency in user interface design Allows early customer involvement Reduces time required to create a product functional specification Disadvantages Usually does not produce reusable code Lacks an obvious stopping point Conclusion It can be seen from the above comparison that differing philosophies can produce radically different views of a system. Nevertheless, both the Traditional SDLC and the alternatives produce valid working systems as well as their share in drawbacks The one size fits all approach to applying SDLC methodologies is no longer appropriate. Each SDLC methodology is only effective under specific conditions. (Traditional SDLC methodologies are often regarded as the proper and disciplined approach to the analysis and design of software applications but the drawback is that it takes a considerable amount of time and all of the system details have to be specified upfront. Methodologies like Rapid Prototyping alternatively are a compromise of rigidity and no rigidity. These new hybrid methods were created to bridge the gap with the evolution of more modern application developments requirements. Newer the less methodologies like Agile are most appropriate when volatility and uncertainty exist in the development requirements, and the SDLC is good when the requirements are already defined. Bibliography Najjar, L. J. (1990). Rapid prototyping (TR 52.0020). Atlanta, GA: IBM Corporation. http://www.lawrence-najjar.com/papers/Rapid_prototyping.html FFIEC IT Handbook (2009). Alternative development methodologies http://www.ffiec.gov/ffiecinfobase/booklets/d_a/02.html Senn James A. (1989), Analysis Design of Information Systems, Introduction to Information Systems, pg27 32 Ch1 McGraw-Hill Co- Singapore Post. G Anderson. D (2006), Management Information Systems, Organizing Business Solutions, pg 448 459 Ch 4 McGraw-Hill Co- New York Igor Hawryszkiewycz. (1998), Introduction to System Analysis Design, The Development Process, pg120 136 Ch 7 Prentice Hall- Australia Obrien A. O Marakas .M. (1989), Management Information Systems, Introduction to Information Systems, pg27 32 Ch1 McGraw-Hill Co- Singapore Systems development life cycle Systems development life cycle 1. Introduction SDLC, The systems development life cycle (SDLC) is a conceptual model used in project management that describes the stages involved in an information system development project, from an initial feasibility study through maintenance of the completed application. Hence an array of system development life cycle (SDLC) models has been created: Fountain, Spiral, rapid prototyping, synchronize and stabilize and Incremental. Although in the academic sense, SDLC can be used to refer to various processes followed during the development of software, SDLC is typically used to refer to the oldest of the traditional models a waterfall methodology. 2. Software Engineering Process The SDLC supports a list of important phases that are essential for developers, such as planning, analysis, design, and implementation, and are explained more in detail later in this report. Traditionally the waterfall model was regarded as the original: which adhered to a sequence of stages in which the output of each stage became the input for the next. No definitive models exist, but the steps can be describe and divided as follows: †¢ Project planning, feasibility study, Initiation: A feasibility study is a quick examination of the problems, goals and expected cost of the system. Projects are usually evaluated in three areas of feasibility: economical, operational, and technical. In addition, it is also used as a guide to keep the project on track and to evaluate the progress of project (Post Anderson, 2006). Thus the goal of the feasibility studies is to evaluate alternative systems solutions and to propose the most feasible and desirable business application for development, (Obrien Marakas, 2006) states that the feasibility of a proposed business system can be evaluated in four major categories Organizational Feasibility: An illustration of how a business supports the strategic business priorities of the organization. Economic feasibility: Identifies whether expected cost savings, increase revenue, increase profits and reductions in required investments will exceed the cost of developing and operating a proposed system. Technical feasibility: can be demonstrated if reliable hardware and software capable of meeting the needs of a proposed systems can be acquired or developed by the business in the required time. Operational feasibility: can be measured by the ability and willingness of management, employees, customers, suppliers and others to operate, use, and support a proposed system. for example if Tescos was to change its software platform at the tills to something entirely different, employees may begin to make to many errors and find ways around using it or just all together quite, thus it will fail to show operational feasibility. †¢ Requirements gathering and Systems Analysis: (Hawrzyszkiewycz 2004) This step defines the proposed business solutions and any new or changed businesses processes. The goal at this stage is to find any problems and attempt to fix the system or improve its productivity and efficiency. The technique here is to break the system into smaller pieces as it is easier to be explained to others and can be split up amongst different development team. A draw back of this though is that it takes time and effort to reintegrate all of the pieces (Post Anderson, 2006). †¢ Systems design: Functions and operations are described in detail during the design stage, including screen layouts, business rules, process diagrams and other documentation. The output of this stage will be to describe the new system as a collection of modules or subsystems. (Hawrzyszkiewycx 2004) states that system designs is a two step process, Broad design: which indentifies the main architecture of the proposed system which may include the language use to develop the databases, network configurations, software requirements and whether programs are to be developed using internal programmers or external contractors. Detailed design: only after the design phase is completed the detailed design phase can be initiated, during this phase the database and program modules are design and detailed user and system interaction procedures and protocols are documented. †¢ Build: Software developers may install (or modify and then install) purchased software or they may write new or custom design programs (Senn 1989). Just like the design phase, this phase is broken up into two separate sub phases, development and implementation. During the implementation phase the components built during the development are put into operational use. Usually this means that the new and old systems run parallel until users are trained in system operations and existing processes converted to the new system. (Hawrzyszkiewycz 2004) †¢ Testing: During the integration and test stage, the software artefacts, online help, and test data are migrated from the development environment to a separate test environment. At this point, all test cases are run to verify the correctness and completeness of the software. Successful execution of the test suite confirms a robust and complete migration capability. In addition, reference data is finalized for production use and production users are identified and linked to their appropriate roles. The final reference data (or links to reference data source files) and production user list are compiled into the Production Initiation Plan and the system is used experimentally to ensure that the software does not fail, also the code is tested iteratively at each level (Senn 1989). †¢ Installation, Implementation and Deployment: Implementation is a vital step in the deployment of information technology to support employees, customers, and other business stakeholders, the system implementation stage involves hardware and software acquisition, software development, testing of programs and procedures, conversion of data resources and additionally involves the educating and training of end users and specialist who will operate the new system. All together this is the final stage where the project is finally used by the business (Obrien Marakas, 2006). †¢ Maintenance: Once a system is fully implemented and is being used in business operation, the maintenance function begins; this involves the life of the system which may include changes and enhancements before its decommissioning. (Obrien Marakas, 2006) states that the maintenance activity includes a post implementation review process to ensure that newly implemented systems meet the business objectives establish for them. (Hawrzyszkiewycx (2004) supports the argument that maintenance is required to eliminate errors in the system during its working life and to improve the system in the light of changes by monitoring, evaluating and modifying operational business systems to make desirable or necessary improvements. 3. Evaluation and Reason for Adopting SDLC for a small Pc Application The adoption of the SDLC for the development of a small application on a pc will not be appropriate because the SDLC is just what is says it is the Life Cycle of the system software. The SDLC is a process use to manage time and resources on a project, from the identification of a need for the system Initiation) to rolling it out to the user (Implementation) to de-supporting or no longer needing it (Disposition), Each phase of the SDLC requires documentation, reporting, and approval. This assures that a project cannot get out of hand either by changing the direction or becoming a financial black hole and the project sponsors are aware at every step of exactly what is going on as it is documented. Therefore it is reasonable to assume that the development of a small application on a pc does not require the adoption of the SDLC model whereas a large systems which have teams of architects, analysts, programmers, testers and users must work together to create the millions of lines of cust om-written code that drive enterprises today, will without a doubt need to adopt an SDLC solution to manage the resources of such a project. 4. Evaluation Of the Traditional SDLC Strengths Limitations The Waterfall Model The waterfall model is the most classical sequential life cycle; each phase must be completed in its entirety before the next phase can begin. (Post Anderson, 2006) states that one advantage of the SDLC is the formality aspect which makes it easier to train employees and to evaluate the progress of the development as well as ensuring that steps are not skip, such as user approval, documentation and testing. In addition with eighty percent of MIS resources spent of maintenance, adhering to standards whilst building the system makes it easier to modify and maintain in the future because of the documentation generated and the sustain consistency, however the formality of the SDLC approach can be problematic as it increases the cost of development and lengthens the development time (Post Anderson, 2006) The formality of the SDLC method also causes problems with projects that are hard to defined, unlike newer methods like Agile which helps software development teams to respond to the unpredictability of building software through incremental, iterative work cadences, known as sprints (Cohn, Mike 2006). Agile Methods aim at allowing organizations to deliver quickly, change quickly and change often. While, agile techniques vary in practice and emphasis, they share common characteristics, including iterative development and a focus on inter-action and communication. Maintaining regularity allows development teams to adapt rapidly to changing requirements, and working in close proximity, focusing on communication, means teams can make decisions and act on them immediately, rather than wait on correspondence. It is also important to reduce non-value adding intermediate artefacts to allow more resources to be devoted to product development for early completion. The SDLC however works best if the entire system can be accurately specified in the beginning. That is, users should know what the system should do long before the system is created. (Post Anderson, 2006) further explains that because of the rigidity of the SDLC, the development of more modern applications are difficult, hence the combination of existing SDLC models and the creation of other alternatives models and methodologies are adopted as outlined later in this paper. Advantages Easier to use. Easier to manage because of rigidity Phases are completed at specific phase intervals Requirements are very well understood. Disadvantages scope adjustment during the life cycle can kill a project Working software is not produced until the life cycle is complete. Not suited for long and ongoing projects. In appropriate where requirements are at a moderate to high risk of changing Alternative development mythologies One management advantage of the traditional SDLC method is the sequential series of tasks; on the other hand using the traditional SDLC has many drawbacks. For example, when adopting a traditional SDLC methodology, the rigid chain of phases may subsequently make it impossible for developers to improved ways to provide functional requirements as the project is being built, which results in the designers redoing their work. Instead programmers should be involved in the planning and design phases, so that they may be able to identify improvements much earlier in the process, thus enhancing the effectiveness of project activities, (FFIEC IT Handbook (2009). Development solutions such as iterative and Rapid prototyping address many of the shortcomings of a traditional SDLC. And a brief description of two the newer methodologies are outlined below along with some advantages and disadvantages for comparison purposes. Agile Development Model Agile software development is a conceptual framework for undertaking software engineering projects. Agile methods attempt to minimize risk and maximize productivity by developing software in short iterations and de-emphasizing work on secondary or interim work artefacts. The key differences between agile and traditional methodologies are as follows: Development is incremental rather than sequential. People and interactions are emphasized. Working software is the priority rather than detailed documentation. Customer collaboration is used, rather than contract negotiation. Responding to change is emphasized, rather than extensive planning. Rapid Prototyping model Rapid prototyping is a process for creating a realistic model of a products user interface (Najjar, L. J. (1990) ,Using rapid prototyping, you model the look and feel of the user interface without investing the time and labour required to write actual code (Najjar, L. J. (1990). Advantages Saves time and money Promotes consistency in user interface design Allows early customer involvement Reduces time required to create a product functional specification Disadvantages Usually does not produce reusable code Lacks an obvious stopping point 5. Conclusion It can be seen from the above comparison that differing philosophies can produce radically different views of a system. Nevertheless, both the Traditional SDLC and the alternatives produce valid working systems as well as their share in drawbacks The one size fits all approach to applying SDLC methodologies is no longer appropriate. Each SDLC methodology is only effective under specific conditions. (Traditional SDLC methodologies are often regarded as the proper and disciplined approach to the analysis and design of software applications but the drawback is that it takes a considerable amount of time and all of the system details have to be specified upfront. Methodologies like Rapid Prototyping alternatively are a compromise of rigidity and no rigidity. These new hybrid methods were created to bridge the gap with the evolution of more modern application developments requirements. Newer the less methodologies like Agile are most appropriate when volatility and uncertainty exist in the development requirements, and the SDLC is good when the requirements are already defined. 6. Bibliography Najjar, L. J. (1990). Rapid prototyping (TR 52.0020). Atlanta, GA: IBM Corporation. http://www.lawrence-najjar.com/papers/Rapid_prototyping.html FFIEC IT Handbook (2009). Alternative development methodologies http://www.ffiec.gov/ffiecinfobase/booklets/d_a/02.html Senn James A. (1989), Analysis Design of Information Systems, Introduction to Information Systems, pg27 32 Ch1 McGraw-Hill Co- Singapore Post. G Anderson. D (2006), Management Information Systems, Organizing Business Solutions, pg 448 459 Ch 4 McGraw-Hill Co- New York Igor Hawryszkiewycz. (1998), Introduction to System Analysis Design, The Development Process, pg120 136 Ch 7 Prentice Hall- Australia Obrien A. O Marakas .M. (1989), Management Information Systems, Introduction to Information Systems, pg27 32 Ch1 McGraw-Hill Co- Singapore

Accounting Concepts for Borrowing Costs

Accounting Concepts for Borrowing Costs Abstract To prescribe the accounting treatment for borrowing cost incurred irrespective of its nature either capital or revenue and to interpret the said accounting standard in a fairly manner with the help of accounting standard interpretation as issued by ICAI. Introduction With the advent of Industrialisation, Organisations need more resources so as to compete in the Industry which it pertains as well as to achieve its vision. Among those resources, Money is foremost and it is needed for various reasons which may include meeting its working capital requirement, construction of asset, etc. Most of the organisation opts for borrowings from banks, other financial institutions for the same. Borrowings may include some outflow of cash even before such borrowings are made, which we may call as borrowing cost such as interest, loan processing charges by banks, other charges other than the principal amount while repaying. Definitions Borrowing Cost Interest charges on bank borrowings including short term and long term borrowingsBorrowing cost can be illustrated with many interpretations. But AS 16 provides an inclusive definition comprising of, Amortisation of discounts, premiums Ancillary costs in connection with arrangement of borrowings Finance charges in respect of assets acquired on finance lease Exchange difference arising in foreign currency borrowings to the extent they are regarded as an adjustment to interest costs. Qualifying asset There are certain exceptions to qualifying asset. They are, Investments other than investment properties Inventories that are routinely manufactured over a short period of time How to interpret? In order to guide for a proper interpretation ICAI has issued ACCOUNTING STANDARD INTERPRETATION (ASI). With reference to ASI-1, Substantial period of time dependents on the facts and circumstances of each case. However, ordinarily, a period of 12 months is considered, unless a shorter or longer period can be justified on the basis of circumstances of the case. With reference to ASI-10, Adjustment to interest cost means the difference between the interest cost on foreign currency loan and interest that would have been paid on local currency loan had this loan been in local currency Recognition: Borrowing cost will be recognised only if such cost or expense is absolutely and directly attributable to acquisition, construction or production of qualifying asset and its is also important that the cost incurred only be capitalised when it is probable that they will result in future economic benefits to enterprise and can be measured reliably Borrowing cost that are not recognised and as a result it is not eligible for capitalisation can be charged to the profit and loss account in the period which it occurs. Interrelation of AS-16 with other accounting standards AS-11 Exchange differences arising from foreign currency borrowing are considered as borrowing cost for which the increase in liability towards principal amount should be capitalised to the extent of increase in the interest would be paid if loan was taken in Indian currency and the balance has to be treated as exchange difference as per AS-11, The effects of changes in foreign exchange rates. Illustration: ABC ltd Company has taken a loan of USD 10,000 on April 1, 20X3, for a specific project at an interest rate of 5% p.a. On April 1, 20X3, the exchange between the currencies was Rs.45 per USD. The exchange rate as at March 31,20X4 was Rs.48 per USD. The corresponding amount could have been borrowed by ABC ltd in local currency at an interest rate of 11% p.a. Solution: (i) Interest = USD 10,000 X 5% X Rs.48 = Rs.24000 (ii) Increase in liability towards the principal amount = USD 10,000 X (48-45) = Rs.30,000. (iii) Interest that would have resulted if the loan was taken in Indian currency =USD 10,000 X 45 X 11% = 49,500 (iv) Difference between (iii) and (i) = 49500 – 24000 = 25,500. 30000 AS-16 AS-11 25,500 4,500 Therefore out of Rs.30,000 increase in liability towards principal amount, only Rs.25,500 will be considered as borrowing cost and the remaining Rs.4,500 will be considered as exchange difference and charged to Profit and Loss as per AS-11 Total Borrowing cost as per AS-16 = 24,000+25,500 = Rs.49,500 Additional Illustration How will you answer change in the above case it the local interest rate is 13% Solution: (i) Interest = USD 10,000 X 5% X Rs.48 = Rs.24,000 (ii) Increase in liability towards the principal amount = USD 10,000 X (48-45) = Rs.30,000. (iii) Interest that would have resulted if the loan was taken in Indian currency =USD 10,000 X 45 X 13% = Rs.58,500 (iv) Difference between (iii) and (i) = 58,500 – 24,000 = Rs.34,500. Therefore, whole 30,000 will be considered as borrowing cost. Total Borrowing cost as per AS-16 = 24,000+30,000 = Rs.54,000 What will be the situation under Income-tax act? Sec.43A Income-tax act explains how to deal with exchange rate differences arising from acquiring asset from a country outside India for the purposes of business or profession as a result increase or reduction in liability for making payment or for repayment of loan borrowed in foreign currency specially acquiring for asset. It clearly states that exchange difference has to be treated in Income tax only in relation to payment, and not on accrual basis as required under AS-16. Therefore, only the exchange differences arising from the assets acquired or loan borrowed from outside India is to be capitalised. It never speaks about the concept of adjustment of interest costs. So, even if one has followed AS-16 for treating exchange difference as an adjustment to interest cost, it has to be nullify that effect while arriving at the block of assets as per Income tax act and instead, adjustment of assets only to the extent of exchange differences has to be made. AS-12 Expenditure on a qualifying asset comprises of only those that has resulted in payments of cash, transfers of other assets or the assumption of interest bearing liabilities. Such expenditure has to be decreased for any progress payment received and grants received in connection with asset .This is also similar in the case of Accounting standard-12, Government grants, as it prescribes that asset has to be accounted after deducting the amount of monetary grant received from the gross value of the asset. AS-19 In the inclusive definition of borrowing cost, it says that finance charge arising on account of assets acquired on financial lease is to be capitalised to the extent of such finance charges. Such finance charges will be computed as per the Accounting standard-19, Leases. Measurement Measurement of borrowing costs includes such costs incurred in both specific and general borrowing. In case of specific borrowing, the money borrowed is used particularly for the purpose of acquiring a qualifying asset. Such cost has to be capitalised less any income on temporary investment made on such borrowings On the other hand, it is general borrowing for which the money is borrowed generally for the purpose of various qualifying assets, the amount of borrowing cost to be capitalised to be determined by applying an appropriate capitalisation rate on the expenditure of the capitalisation rate. Capitalisation rate is the weighted average of the borrowing cost applicable to the borrowings of the enterprise outstanding during the period other than the borrowings made specifically for the purpose of obtaining qualifying asset. Capitalisation Rate = Total Interest on borrowing Total Borrowings Therefore, the relationship is, Specific borrowings one loan with one asset or many assets General borrowings – Many loans with many assets Expenditure on qualifying asset Payment of cash XX Transfer of other assets XX Interest bearing liabilities XX Less: Receipt of progress payment (XX) Grant received in connection with asset (XX) ________ Expenditure XX Another important note is that the amount of borrowing costs capitalised during the period should not exceed the amount of borrowing cost incurred during the period. Commencement Capitalisation of borrowing coast will be commenced on the basis of three conditions. They include that the expenditure for acquisition, production of asset has been actually incurred and activities necessary to prepare the asset for which the asset has been originally assessed to be used and actual borrowing cost has been incurred for the same. Suspension Borrowing costs in relation to qualifying assets are normally continuous for capitalisation. But in certain case they are suspended as prescribed when there is interruption in the active development of the asset. But there is exception to such suspension is not necessary in these cases, When substantial technical and administrative work is being carried out. When temporary delay is a necessary part of process of getting an asset ready for its intended use or sale. (E.g. Interest on loan taken to finance working capital requirement for a vineyard) Cessation There is a point in which the capitalisation of borrowing cost should to be stopped. Such capitalisation should be ceased if construction of a certain portion of the asset is completed and such asset can be used independently for its intended use or sale. On the other hand, if the assets are completed in parts and cannot be used independently, then the capitalisation should continue till the asset is ready for its intended use. The other kind of situation is that the capitalisation should be stopped if the asset is physically completed and only the routine administrative work is going on. Even if decoration work is remaining then the asset is deemed to be completed and the capitalisation of borrowing cost should be stopped for such asset. Disclosure Borrowing costs are disclosed in financial statements in terms of the particular accounting policy adopted and the amount of borrowing costs capitalised during the financial year. What are the significant differences between AS-16, IAS, and US GAAP? There is a marked difference in the way US GAAP and IAS deal with capitalisation of borrowing costs. Under IAS-23, there are two treatments that are allowed, The benchmark treatment which requires borrowing cost to be expensed when incurred Alternative treatment which requires capitalisation of borrowing cost when certain rules and conditions are fulfilled. But AS-16 does not allow dual treatment, i.e. borrowing costs are compulsorily capitalised when certain conditions are fulfilled and compulsorily not capitalised when certain conditions are not fulfilled. The same situation exists in the case of US GAAP-FAS-34 interest cost is capitalisable for all assets that require a period of time for their intended use, unless they are not material. Conclusion In spite of various accounting policies and financial reporting framework, AS-16, Borrowing costs are important to prepare those financial statements and so that the accounting information presented to the management is accurate and discloses material facts.

The Fall of the House of Usher :: essays research papers

In "The Fall of the House of Usher", Poe uses the life-like characteristics of the decaying house of Usher as a device for giving the house a supernatural atmosphere. This not only makes the story act upon the reader in a grabbing way, but it also creates an impression of fear, mystery and horror, typical for Poe’s literary works. For example, from the very beginning of the story, the reader can tell that there is something unusual and bizarre about the old house. As the narrator approaches the home of his long-time friend, Roderick Usher, he refers to the house as the "melancholy House of Usher". This description in the beginning of the story prepares the reader for the mysterious events that will follow. Upon looking at the building, he even feels some sense of intolerable darkness which pervades his heart. The windows appear to be "vacant† and "eye-like† as if watching at the narrator and wandering through his mind. With an insecure feeling he goes to observe the "rank sedges," and the "black and lurid tarn," in which he sees the reflection of the house. He later says, "when I again uplifted my eyes to the house itself, from its image in the pool, there grew a strange fancy...". Although, the narrator tries to view everything he sees in a rationa l manner, upon seeing the house and its surroundings, he has an elevated sense of dread. He goes on to say that, "about the whole mansion and domain there hung an atmosphere peculiar to themselves and their immediate vicinity". This statement indicates that perhaps the house does indeed have some thrilling and spiritual nature. The narrator observes the details of the house once more and finds that the house has mold growing all over it and the masonry of the building is decaying. He says, that " there appeared to be a wild inconsistency between its still perfect adaptation of parts, and the utterly porous, and evidently decayed condition of the individual stones". This observation suggests that perhaps something eerie is holding the house whole, otherwise it would have fallen to the ground long ago. With this description, the house is also represented as a witness of many fates and a long period of history. It is as a mute observer of the time, knowing more, tha n anybody who lives in there. Later on, when the narrator enters the house, he sees its inside as well as the odd behavior and personality of its inhabitants and is increasingly convinced that the house has some strange impact on the people living in it.

IVF - In Vitro Fertilization :: essays research papers

10, 000 Australian couples are treated with IVF each year. The expensive and rather risky program (costing around $4000 excluding overheads) allows infertile couples to achieve pregnancy when conventional therapy has failed or is unacceptable. The procedure involves placing eggs that have been fertilised in a cultured dish directly into the uterus. A successful procedure will go as follows: - Couples are counselled about their situation and informed on the procedure, their obligations and rights. - Medical history, physical examination and other related tests are taken to determine candidacy. - The woman receives hormone injections (Human Menopausal Gonadotropin and recombinant Follicle-Stimulating Hormone) to stimulate development of the ovarian follicles which contain eggs. Frequent blood tests are taken to monitor hormone secretion from the ovary and pituitary gland. - When eggs are ripe, they are retrieved by transvaginal needle aspiration, guided by ultrasound. At the same time, semen samples from the husband (or donor) are obtained. The most active and healthy sperm are selected by forcing them to swim through a culture medium. - The egg and sperm are placed together in a suitable medium for fertilisation to occur in a culture dish. If fertilisation does not occur after 72 hours, the oocytes (incompletely developed eggs) and sperm are disposed of. The resulting embryos are observed for the next few days. - A small plastic tube is inserted through cervix to place embryos into the uterus. The patient is able to go home a few hours later with minimal discomfort. During the first two weeks after embryonic transfer, hormones (such as Progesterone or HCG) may be administered. The procedure above can bring either joy or disappointment. A successful patient from the Atlanta Reproductive Healthcare Center states: “For all of us, hearing that we are pregnant will be the most wonderful news. But remember, as easily as they told you that you are pregnant, it can be just as easy for them to tell you that you have lost your child.'; Of the 10,000 people treated each year in Australia, there is a 92% failure rate. More often than not, something goes wrong and couples are left with a hefty medical bill, no pregnancy and compounded emotional stress. Every stage of IVF contains and element of risk, from the administration of drugs to the actual birth of the child. Woman who undergo IVF are at risk of experiencing serious side effects. Many of these are caused by the

Uc Regents vs Bakke Case Brief Essay

Allan Bakke. a thirty-five-year-old white adult male. had twice applied for admittance to the University of California Medical School at Davis. He was rejected both times. The school reserved 16 topographic points in each come ining category of one 100 for â€Å"qualified† minorities. as portion of the university’s affirmatory action plan. in an attempt to right longstanding. unjust minority exclusions from the medical profession. Bakke’s makings ( college GPA and trial tonss ) exceeded those of any of the minority pupils admitted in the two old ages Bakke’s applications were rejected. Bakke contended. foremost in the California tribunals. so in the Supreme Court. that he was excluded from admittance entirely on the footing of race. Issue: Did the University of California violate the Fourteenth Amendment’s equal protection clause. and the Civil Rights Act of 1964. by practising an affirmatory action policy that resulted in the perennial rejection of Bakke’s application for admittance to its medical school? Opinion: The particular admittances plan is unconstitutional. but race may be considered as a factor in the admittances procedure. Justice Lewis Powell ( J. Powell ) . composing for the tribunal. says that the Supreme Court of the United States ( Supreme Court ) should non pay attending to past favoritism in reexamining the policies of the University. as this is tantamount to leting political tendencies to order constitutional rules. J. Powell determines that accepting a minimal figure of minorities merely to cut down the traditional shortage of such persons in the medical profession is unconstitutional. as it gives penchant to an person on the footing of race entirely. The major finding of the Supreme Court is whether or non racial penchant may be used to advance diverseness of the pupil organic structure. J. Powell argues that puting aside a specified figure of minority slots is non congruous to the purported end – minority pupils in themselves do non vouch a diverseness of point of views in the educational environment. Significance: Although race may be a factor in finding admittance to public educational establishments. it may non be a exclusive determining factor.

International Journal of Retail & Distribution Management Essay

Introduction Sales promotion is the offer of an incentive to induce a desired sales result (Gilbert, 1999). For our purposes promotional techniques, within UK supermarkets, have been taken to be â€Å"value increasing† promotions (i. e. coupons and price deals) and â€Å"value adding† (i. e. premiums, prizes/contests/sweepstakes, samples, point of purchase display, demonstration and loyalty cards). Sales promotion consists of a wide variety of short-term tactical promotional tools aimed at generating a desired response from customers. Although there is a shift in marketing communications, away from advertising towards sales promotions, there is no consensus among researchers that sales promotions lead to repeat purchase. It is agreed, however, that price promotions can result in a short-term increase in sales (Smith and Sinha, 2000; Banks and Moorthy, 1999; Kopalle and Mela, 1999; Diamond, 1992; Gupta and Cooper, 1992; Bawa and Shoemaker, 1987). It is also important to note that studies of price promotions also show that customers who take advantage of a price promotion often return to their favourite brands (Ehrenberg et al. 1994; Brandweek, 1994). There is a large body of literature, which has examined consumer response to sales promotions, especially coupons (Krishna and Zhang, 1999; Huff and Alden, 1998; Leone and Srinivasan, 1996; Bawa and Shoemaker, 1987, 1989; Gupta, 1988, 1993; Blattberg and Neslin, 1990). Coupons and discounts are the most widely used promotional tools. However, relatively little research has focussed on value adding promotions. In coupon promotions retailers maintain the original price of the product and it is only coupon holders who are entitled to a discount. As buyers are not subject to a reduction in sales price there is no need for them to adjust their internal reference prices downwards, as is the case with discount promotions. Therefore, coupon promotions should be more attractive than discount promotions in improving the transaction value of the product. However, consumers must keep track of the coupons and produce them at the place of purchase. If consumers are used to utilising coupons then they are likely to have a more positive attitude towards them (Huff and Alden, 1998). Also, if a The authors D. C. Gilbert is Professor of Marketing and N. Jackaria is a Researcher, both at Surrey European Management School, University of Surrey, Guildford, UK. Keywords Sales promotion, Retail trade, Food industry, Marketing Abstract UK supermarkets need to be able to assess the current efficacy of the budget they allocate to promotional activities aimed at boosting sales. Therefore, the main objective of this article is to investigate consumer response to the four different promotional deals most commonly used in UK supermarkets: coupons, price discounts, samples and â€Å"buy-one-get-one-free†. Multi discriminant analysis was used on a study of 160 respondents to analyse whether there was an association between the four consumer promotional approaches and respondents’ reported buying behaviour. The findings indicate that only price discount promotions proved to be statistically significant on consumer’s reported buying behaviour. Purchase acceleration and product trial are found to be the two most influential variables related to a discount. For â€Å"buy-one-get-one-free†, while the result is not significant, the two variables, brand switching and purchase acceleration are statistically significant.