Effects of Globalization Globalization and the Effects on...

Globalization has affected every aspect of the business community in one way or another. Globalization in a simple sense is a business’s movement from one country to another. This is done for a number of reasons; amount of readily available resources, labor market, increased number of customers, and to ultimately become more profitable. There is a decisive advantage for a business to move overseas, but there are a number of drawbacks globalization creates on the local economy. When businesses become an international entity the home country experiences increased unemployment rates, the human resource department now has to manage across borders, prices of goods fluctuate, and forcing wages to decrease for unskilled workers and increase†¦show more content†¦The idea behind globalization is to increase the profits of the business. In many cases globalization has allowed various companies to lower their operating costs by employing a cheaper labor force, locating less costly materials, and taking advantage of less strict policies. History Many individuals correlate the term globalization with the recent expansion of many United States based companies to overseas locations. Globalization has actually been occurring for many hundreds of years. Looking back to the first explorers, they can be defined as the ones who started the movement. The world has been witnessing a globalization process at least for the last four centuries (Ates, 2008). Globalization still remains to be a phenomenon which nobody can agree on a clear definition. It has been responded to as a movement from one country to the next, an expansion into a foreign region to reap the benefits of untapped resources, or merely a location which offers a broader range of individuals to fill the needs of a business. No matter how it is defined or labeled, globalization has been occurring since modes of transportation have been available. When Christopher Columbus embarked on his journey to the new world, he was in search of a new region which had been untap ped by other explorers. Many early explorers were merely in search ofShow MoreRelatedGlobalization And The Global Migration903 Words   |  4 Pagesthe country. Globalization is the global economic integration of the global market. In recent time, there were many migrations because of the process of globalization. In order for us to understand the causes and the effects of these migrations, we need to understand the relationship between globalization and global migration. Globalization is the primary reason why global migration occurs. Globalization is the (process of integration and development in the global market.) Globalization is a majorRead MoreImpact Of Globalization On The Economy And Foreign Producers, Or Globalization1698 Words   |  7 Pagesreliant on the global economy and foreign producers, or globalization. Globalization, according to the Merriam-Webster dictionary, is â€Å"the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets† (Merriam-Webster). Many people in the world see globalization as either being a blessing or a curse, and necessary or completely unnecessary. This paper will explain that globalization has both benefittedRead More The Disadvantages of Globalization1567 Words   |  7 Pages Globalization is a term that is difficult to define, as it covers many broad topics in the global arena. However, it can typically be attributed to the advancement of economic, social, and cultural interactions among the companies, citizens, organizations, and government s of nations; globalization also focuses on the interactions and integration of countries (The Levin Institute 2012). Many in the Western world promote globalization as a positive concept that allows growth and participation in aRead MoreGlobalization : The World Of Politics And The Human Population1648 Words   |  7 PagesGlobalization influences many aspects of human life, it is a process of change, the process of collaboration and integration among the people and businesses of different nations, it is a process propelled by trade, investment and technology. The process of globalization has great purpose for bring people together and sharing ideas however, it has effects on the environment, culture, the economy, politics and the human population (Globalization 101). Globalization has effected the environment dueRead MoreThe World s Economy Was Devastated1732 Words   |  7 Pagesthe western world’s economy was devastated. With the crash of the United States Wall Street, the realm drove into what is now known as the â€Å"Great Recession†. Its neighbour to the north, Canada also felt these affects as unemployment and poverty grew. After a decade of despair, the massive rise in government spending for the Second World War and the reductions in taxes, the economies returned to prosper. With decades of industrialization, population growth and surging economies, the Western WorldRead MoreImpact Of Globalization On The World Economy934 Words   |  4 Pagesâ€Å"Globalization refers to all those processes by which the people of the world are incorporated into a single world society, global society.† Definition by Martin AL brow, 1990, a British Sociologist. Globalization helps to under developed countries by increasing their economic. On the other side, researchers and experts are saying that, globalization helps in increasing gap between poor and rich people in all around the world. The impact of the globalization is so wide and board , it is difficultRead MoreDisadvantages Of Globalization794 Words   |  4 Pagesdo. Don’t we have enough labor? Yes, we do. So why are we using foreign labor for manufacturing products that will be sold in USA. Globalization is the way recourses, businesses are expanding globally. Globalization started to become real popular after World War 2, when small and large businesses started to grow and expand. Globalization, the word in the modern economy that can explain why companies expand globally and using foreign manufactures resources to make goods and services that will be soldRead MorePositive and Negative Effect of Globalization744 Words   |  3 PagesTopic: Discuss the positive and negative effects of globalization on the world today. The term globalization is the process of transformation of local phenomena into global ones. It is when different countries start to connect together as a whole, when people around the world are more linked to each other than ever before, when information and money flow more speedily and when goods and services produced in one part of the world are increasingly obtainable in all parts of the world. And it hasRead MorePositive Effects Of Globalization1361 Words   |  6 Pages Economic globalization refers to the â€Å"increasing interdependence of world economies† (Shangquan, 2000), as a result of free movement of goods, services, technology, capital, and information between countries and across borders. It is one of the three main areas of globalization; economic globalization moves at an increasingly fast pace as movement across borders progresses. While economic globalization has had many benefits and positive effects on both developed and under developed countries, itRead MoreHow Globalization Affects Developing Countries?1504 Words   |  7 PagesHow Globalization Affects Developed Countries The phenomenon of globalization began in a primitive form when humans first settled into different areas of the world; however, it has shown a rather steady and rapid progress in the recent times and has become an international dynamic which, due to technological advancements, has increased in speed and scale, so that countries in all five continents have been affected and engaged. What Is Globalization? Globalization is defined as a process which, based

Depression And Teenage Depression - 1308 Words

Teenage Depression Depression has a major impact on the lives of teenagers; And through analysis it says that teen girls have a higher risk at suffering depression. Depression grows more and more everyday in todays society. While researching more about depression realized that teenage girls are at a higher risk for depression. Depression is a common and serious medical illness that negatively affects how you feel, the way you think and how you act. Statistics show that more than three million adolescents are aged between 12-17 reported at least one major depressive episode in the past year, and more than two million reported severe depression that impeded†¦show more content†¦Cyberbullying is connected to depression in teenagers, according to research that analyzed multiple studies of the situation. Ten studies examined the link between social media victimization and depression, and they all found a connection. A recent study by the US Nationa l Institutes of Health, reported by Reuters, found that cyberbullying victims showed more signs of depression than other bullying victims. That is mainly because cyberbullying can be more frightening, especially if the bully is unknown. Cyberbullying can cause so much hurt to a person and it can cause a person to become so emotionally hurt because of how much was said. There are many causes of depression and theres a low amount of people aware of teen depression, which creates a serious matter in the world. Teens are under many of pressure to succeed in school. Stressing over classes, grades and tests can cause someone to be depressed, especially if they are struggling. Fifteen point eight percent of teens have considered suicide, within the past year,due to their major depression going unnoticed. Deaths, illnesses, rejection, relationship issues, and disappointment present passages down the negative path of teen depression. Depression is a mental disorder that involves being eithe r bitter or irritable nearly all the time, or losing interest or enjoyment in almost everysituation.† Fourteen percent ofShow MoreRelatedTeenage Depression And Teen Depression792 Words   |  4 Pages Teen depression, which is also known as adolescent depression, is a growing problem in today’s society. Depression among teenagers is overlooked by many and is often mistaken for â€Å"normal† teenage behavior. This mental illness is one of the most common psychiatric disorders. Depression is predominantly seen amongst young women who are transitioning into adulthood. Teenagers are at a point in their lives where they come face to face with the reality of peer pressure and a milestone in becomingRead MoreTeen Depression : Teenage Depression1477 Words   |  6 Pages Teenage Depression Depression has a major impact on the lives of teenagers; And through analysis it says that teen girls have a higher risk at suffering depression. Depression grows more and more everyday in today s society. While researching more about depression realized that teenage girls are at a higher risk for depression. Depression is an common and serious medical illness that negatively affectsRead MoreCauses of Teenage Depression1538 Words   |  7 Pagesthey list depression among the side effects of cancer. But, in fact, depression is not a side effect of cancer. Depression is a side effect of death (â€Å"The Only Thing Worse†).† Occasional bad moods or acting out is to be expected, but depression is something different. Depression can destroy the very essence of a teenager’s personality, causing an overwhelming sense of sadness, despair, or anger (â€Å"A Guide for Parents†). The depression rate in the teenâ⠂¬â„¢s generation is rising every day. Teenage depressionRead MoreTeenage Depression and Suicide1246 Words   |  5 Pagescancer.† — These descriptions are how Cait Irwin, who suffered from depression as a teenager, described it. Teenage depression is a common but serious illness that can ultimately send some on a downward spiral towards suicide that can be averted if recognized and given the proper treatment. Countless teenagers experience some type of depression in their lifetime, but what exactly is depression and just how common is it? â€Å"Depression is a mental disorder that involves being either sad or irritable nearlyRead MoreAnalizing Teenage Depression589 Words   |  2 PagesThe nation’s adolescent population, the future, is depressed. Most adults, and even some teenagers, brush off this dilemma as â€Å"the teenage phase.† However, as a variety of studies indicate, 15 to 20 percent of teenagers are affected by depression annually- and the number only increases. According to the National Institute of Mental Health (NIMH), depression has no single cause, generally resulting from a combination of factors. However, the number of depressed adolescents has spiked in the past twentyRead MoreTeen Depression : Causes And Effects Of Teenage Depression1074 Words   |  5 PagesTeenage Depression Hopeless, lonely, insecure, empty, suicidal; these are all words that people hope never come out of a teenager’s mouth, but sadly they do often. Many teenagers struggle with depression on a daily basis. The severity of depression ranges anywhere from crying every night to attempting suicide. About 3.5 million teenagers suffer from depression and about 3 million of them think about committing suicide each year (Martin 6). There is a huge increase of teen depression, especially inRead MoreTeenage Depression Essay849 Words   |  4 PagesDepression is a common mental health issue in adolescents worldwide. However, a variety of different symptoms, risk factors, and treatment methods have a roll on how the child copes and recovers from their depressive disorder. Nonetheless, Adolescent depression is a disorder that affects teenagers. This disorder can lead to several negative feelings such as disappointment, sadness, and a loss of self-worth. However, when do parents know the diff erence between their child facing challenges that mayRead MoreTeens And Teenage Depression892 Words   |  4 Pagesâ€Å"In America, every year, thousands of teenagers suffer depression due to barriers in their day to day life. Depression is the leading cause of suicide, more than thousands of have been successful at attempting and committing suicide.†(Depression in Teens 2) In today’s generation, teenagers are growing up in the world that is for more different than their parent’s youth. Teenagers are suffering from stress that is not understandable by people from the previous generations since this wasn’t as bigRead MoreTaking a Look at Teenage Depression1434 Words   |  6 PagesDepression: severe despondency and dejection typically felt over a period of time and accompanied by feelings of hopelessness and inadequacy. Depression: a debilitating mental and physical disorder. Depression: an illness that has an uncountable amount of treatments within rea ch of anyone who suffers, yet in the US alone over 2000 children between the age of 10 and 19 completed in ending their life (National Alliance on Mental Illness). As Kevin Breel speaks about his struggle with trying to allowRead MoreAn Effective Treatment For Teenage Depression1705 Words   |  7 Pagesof energy, and suicidal thoughts or actions. Of these 2.8 million American adolescents suffering from depression less than 33% actually receive treatment (Teen Help 2015). Depression is a highly treatable disease with treatments ranging from therapy to the use of prescribed medication. Recent studies have shown that healthy lifestyle changes can also be an effective treatment for teenage depression and is a much cheaper alternative to more expensive treatment options. A healthy lifestyle can alter

Newly Adopted Accounting Practices Rules †Myassignmenthelp.Com

Question: Discuss About The Newly Adopted Accounting Practices Rules? Answer: Introducation This report reflects the key understanding on the accounting practices and particular changes arise after implementation of newly adopted accounting practices and rules. In this report, key area of management accounting is related to the management accounting practice and benefits arise from the newly introduced accounting practice on the business organizations. With the increasing ramification of economic changes, management accounting practice has been changing throughout the time and it is becoming cumbersome process for accountant to comply with implemented rules and regulations in determined approach. In this report, various newly introduced accounting rules and adopted management process system have been taken into consideration. It is considered that management department has to ensure all the changes in accounting rules and regulation with a view to adopt new process system and process management in determined approach. These accountants have to evaluate whether company is co mplying with all the rules and applicable standard while running its business effectively in organization (Muckstadt Sapra, 2010). Changes in the focus of management accounting practices As per the perception of Muckstadt Sapra, (2010) it is reflected that with the increasing ramification of economic changes, management accounting practice has been changing and it is becoming cumbersome process for accountant to comply with implemented rules and regulations in determined approach. These changing factors are imposing the requirement on business to change their ways of operating a management of business. There are several big organizations such as G.E. capital, Wesfarmers, Woolworth and Morrison plc. That has adopted changed management accounting practice in their accounting and reporting frameworks. These changed have been adopted with a view to strengthen the accounting and reporting frameworks of organization and increasing transparency of business functioning to their shareholders. As per the perception of Christ, Burritt (2013) it is reflected that there are several management accounting techniques which have been adopted by organizations such as cost management technique, ABC accounting technique, LIFO, FIFO methods, overhead absorption and apportions accounting technique and costing technique. However, accountants have become aware about these accounting techniques to manage their accounting practice in determined approach. Nonetheless, Multinational organizations set up different big rules and regulations for the management accounting practices with a view to strengthen the accounting and reporting frameworks and increasing transparency of business functioning to their shareholders. Ideally, when companies adopt different management accounting practice, then they have to evaluate various factors such as life cycle of business, size of business, regulatory requirements, modernisations of techniques and inventory management techniques. Management Accountants role in the contemporary business world As stated by Needle, (2010) it is reflected that with the changes in economic factors and business conditions, accountant has various responsibilities of management accountant and other executives of management. Management accountant has covered not only accounting task to manage the business transactions but also play important role in playing financial tasks in determined approach. However, there are several reporting and analysis work which are played by accountant in an organization. Reporting and analysis work: As per the views of Hada, Chakravarty Mukherjee, (2014) it is divulged that Reporting of financial statement to stakeholders is an important functioning of organizations. The management accountant is responsible for preparation the management accountant is responsible for preparation of reports on the functioning of various operations and to identify the root causes of any deficiency in the operations. Also the accountant is required to apply the analytical skills to the data of the company to compare the actual results with the benchmarks and to report the deviations, if any with the suitable recommendations. Formulation of Strategies: The management accountants are responsible to formulate the strategies for the management and the effective implementation of the same so as to achieve the targets and the goals effectively. Decision Making: The decision making function is the most crucial function in any organization as it require good amount of information to take important decisions for the company. The management accountant provides material and necessary to the top level management. Interpretation of Information: Management accountant helps in the interpretation of financial information provided to the management so that it becomes easy for the managers to understand the operating results. Advisor: Cost management is supposed to provide the best advice relation to various crucial matters on which management has to take firm decisions. The accountant is required to provide the advice which is best suitable to the company so as to improve the overall performance of the different functions of the company. Change Manager: As organization has to adapt to the changes that are rapidly occurring in the environment in which it is operating, the management accountant will help the firm to cope up with the changes by identifying and assessing the need and implications of changes through provision of updated information (Christ, Burritt 2013) Performance measurement: The management accountant helps the organization in measuring the performance of overall organization as well as the performance of individuals of the management such as employees and the managers. Customers value and Shareholders wealth As per the views of Iyer, et al. (2015) it is divulged that creation of customers value is very important business functioning of organization. It is considered that if amount paid by customer to buy goods and services from the market is high as compared to the satisfaction they get from the market then customers value would be high. It is further observed that in case if customers get high satisfaction from the purchased goods and services then in this customers value would be high. It is observed that accountant management could increase the overall client satisfaction if they implement proper management accounting system to record financial and non-financial transactions in determined approach. There are several companies such as G.E. capital, Wesfarmers, Woolworth and Morrison plc. who have created core competency in creation of customers value and shareholders wealth. These companies have developed organization culture by implementing proper level of policies and frameworks and delivering best level of services to clients. Customers in the market could evaluate the brand image and value chain activities of organization by understanding financial statements in determined approach. Application of different level of accounting practice and developed accounting plans has helped G.E. capital, Wesfarmers, Woolworth and Morrison plc. to creation customers value in the market. This has not only increased overall clients buying habits but also enhance the brand image of company in market. This creation of customers value is key pillar for the success of organization and it could be created by increasing the overall quality of client and production efficiency in determined approach (Iyer, et al. 2015). Shareholders wealth Shareholders are the key persons of company who make investment and provide capital to run the business. With the help of effective accounting management practice, company could increase the overall transparency of business and showcase the real earning to its stakeholders. It is further observed that if company increase the earning per share then it will eventually increase the overall shareholders health. Companies like G.E. capital, Wesfarmers, Woolworth and Morrison plc. have been offering high amount of earning per share to its shareholders. Morrison plc. offered 1.23 points average EPS to its shareholders since last five years data. On the other hand, Woolworth and Wesfarmers shared approximately 1.92 points average EPS to its shares. Company could increase the shareholders health by offering dividend, bonus shares and other retained earnings for the betterment of shareholders earning. However, various companies such as BP Billiton and Rio Tinto instead of offering dividend to its shareholders plug back all the profit earned in the business functioning of organization. This process will not only increase the overall value capital of the organizations but also provide high level of value creation to shareholders who invested their money in organization. It is observed that if company must focus on maximization of companys performance and increasing the overall value of capital. If companies fail to create value of investment then it will decrease the value of company in shareholders mind. However, each and every companies issues dividend, shareholders rights issues and other right to its shareholders with a view to establish proper level of nexus between companys welfare and shareholders wealth in effective manner. This shareholders wealth could be increased if company have proper level of harmonization in plugging back of profit and distributing overall earning to its shareholders (Iyer, et al. 2015). As stated by Muckstadt Sapra, 2010 it is reflected that after evaluating these two issues given above, it could be inferred that if organizations are making proper level of efforts then these two issues could be mitigated in determined approach. It is evaluated that company needs to identify the best possible efforts method such as issues of stock options, issues of right shares, dividend and other benefits to shareholders to increase the overall shareholders wealth. It is considered that shareholders wealth is completely dependent upon two factors such as distributions of companys benefits to shareholders and increase in the invested capital of company. Another issue is related to providing customers satisfaction to clients in the market. If company re-engineering its value chain activities to increase the effectiveness of overall efficiency of business then it will also increase the client satisfaction and brand image of company in the market. Contemporary techniques of resource management: It is observed that if company manages its resources such as financial, operating and other resources in effective manner then it will result to following benefits to organization such as creation of synergy in market, development of core competency and offering high level of quality and management of business (Muckstadt Sapra, 2010). Resources management is the system of management of resources of company in easy and determined approach with a view to create value of investment and efficiency of business. With the help of this resources management of business, company could reduce the wastage and by products of business. However, there are several techniques and methods which are very crucial for the management of business resources in company such as ABC costing technique, cost management method and absorption and appropriation of expenses in different department and determining the economic batch quantity by establishment of Economic order quantity of business. However, management of resources is done by using LIFO and FIFO method in inventory management technique (Hansen, 2011). It is considered that LIFO, FIFO and setting economic order of quantity is the most common method which company could use with a view to reduce the wastage and overburden of inventories in warehouse of the business. There are several c ompanies such as G.E. capital, Wesfarmers, Woolworth and Morrison plc. who have been using inventory management business technique to maintain proper level of inventory in warehouse. Target costing: This is the technique which is used to determine the margin company needs to earn after selling products and services. This target costing also helps company to reduce the complexity of business and reduce the byproducts (Baker English, 2011). Activity Based Budgeting- This is the budgeting process which helps organization to prepare budgeting process to analysis the cost attributable for the different department of organization. This Activity based budgeting assists company to evaluate the revenue and other associated cost of particular department and organizations in determined approach. This Activity based budgeting will help company to evaluate the historical budget information and prepare an effective inventory management plan. This will not only help in reducing overall cost of particular process system but will organization to create core competency in the production of organization This Activity based budgeting provide effective control on the management of expenses and inventory management of business. Nonetheless, this is very costly process and may result to increment in overall production cost for the particular time period (Lambert Pezet, 2011). Total quality management: This technique is developed with a view to increase the total quality of offered goods and service for the better satisfaction of clients. This TQM assists in increasing the overall efficiency of business and customized overall goods and services in determined approach. This TQM method is used by organization to set up particular standards and quality benchmark to increase the overall efficiency of business. Resource levelling: This technique is developed with a view to increase the overall efficiency of company to increase the satisfaction of clients managed in order to handle the constraint effectively. Six sigma: This is the set standard which is used by company for the quality check or proof reading of work. This Six sigma process is highly used by GE capital to evaluate its value chain activities (Hirst, Thompson Bromley, 2015). Logistic management: This process is used to manage the flow of goods and services from one place to another place. This logistic management implement efficient business functioning and decrease the complexity of value chain activities. Cost allocation Methods: Allocation of cost is different department is very necessary task for determining the cost of productions and units produced. However, there are several methods such as ABC costing, traditional costing and other methods to make bifurcation of cost in different department in determine approach (Dunning, 2014). Direct Method: This method is most common method in which all the cost is directly bifurcated into different department of organization. Step down Method: In this method all the associated department and functions share the expenses and overhead cost in different particular department. Reciprocal Method: With the help of this method, proper allocation of expenses in different department is based on the recognition of corresponding services to the service departments. However, this method is complicate and result to high level of complexity to determine the reciprocal allocation of indirect expenses in concerned department (Needle, 2010). However, it is evaluated that direct cost is allocated directly to the concerned department but allocation of indirect cost is based on the different cost drivers such as variable cost, number of hours and labour machinery working (Boxall Purcell, 2011). The cost is allocated by using cost actual labour or machinery working in the business process of organization. References Abdullah, Y. H., Jadhav, K. D., Borhade, S. (2014). The Effect of Applying Activity Based Costing Technique on Financial Performance of Service Industry: A Case Study of Levare Consultants Pvt. Ltd.Asian Journal of Multidisciplinary Studies,2(4). Aminian, V., Nejad, A., Mortaji, S., Bagherpour, M. (2016). A modified earned value management using activity based costing.Journal of Project Management,1(2), 41-54. Baker, H. K., English, P. (2011).Capital budgeting valuation: Financial analysis for today's investment projects(Vol. 13). John Wiley Sons. Bayati, M., Ahari, A. M., Badakhshan, A., Gholipour, M., Joulaei, H. (2015). Cost Analysis of MRI Services in Iran: An Application of Activity Based Costing Technique.Iranian Journal of Radiology,12(4). Boxall, P., Purcell, J. (2011).Strategy and human resource management. Palgrave Macmillan. Cassettari, L., Mosca, M., Mosca, R., Rolando, F., Costa, M., Pisaturo, V. (2016). IVF cycle cost estimation using Activity Based Costing and Monte Carlo simulation.Health care management science,19(1), 20-30. Cuguer-Escofet, N., Fito, M. (2016). The Impact of ABC Costing Systems to Solve Managerial Cost Problems: A Real Improvement, a Fad or a Fashion?. Cuguer-Escofet, N., Fito, M. (2016). The Impact of ABC Costing Systems to Solve Managerial Cost Problems: A Real Improvement, a Fad or a Fashion?. Dunning, J. H. (2014).The Globalization of Business (Routledge Revivals): The Challenge of the 1990s. Routledge. Ebrahimian, H., Taheri, B., Yousefi, N. (2015). Optimal operation of energy at hydrothermal power plants by simultaneous minimization of pollution and costs using improved ABC algorithm.Frontiers in Energy,9(4), 426-432. Hada, M. S., Chakravarty, A., Mukherjee, P. (2014). Activity based costing of diagnostic procedures at a nuclear medicine center of a tertiary care hospital.Indian journal of nuclear medicine: IJNM: the official journal of the Society of Nuclear Medicine, India,29(4), 241. Hansen, S. C. (2011). A theoretical analysis of the impact of adopting rolling budgets, activity-based budgeting and beyond budgeting.European Accounting Review,20(2), 289-319. Hirst, P., Thompson, G., Bromley, S. (2015).Globalization in question. John Wiley Sons. Iyer, P., Liu, Y., Sadeghpour, F., Brennan, R. W. (2015). A fuzzy-logic based resource levelling optimisation tool.IFAC-PapersOnLine,48(3), 1942-1947. Lambert, C., Pezet, E. (2011). The making of the management accountantBecoming the producer of truthful knowledge.Accounting, Organizations and Society,36(1), 10-30. Mashayekhi, B., Ara, M. (2017). Activity-Based Costing in the Hospitality Industry: A Case Study in a Hotel.World Academy of Science, Engineering and Technology, International Journal of Social, Behavioral, Educational, Economic, Business and Industrial Engineering,11(9), 2072-2076. Muckstadt, J. A., Sapra, A. (2010). EOQ Model.Principles of Inventory Management, 17-45. Needle, D. (2010).Business in context: An introduction to business and its environment. Cengage Learning EMEA. Raab, C., Zemke, D. M. (2016). Activity-Based Costing in the Restaurant Industry: What's Past Is Prologue.The Journal of Hospitality Financial Management,24(2), 133-146.