The Socio-Political And Cultural Context of Nursing Essay

The Socio-Political And Cultural Context of Nursing - Essay Example There are various patterns of knowing in case of nursing practices that address the â€Å"who†, the â€Å"how† and the â€Å"what†. However, it has been understood that the pattern of the socio-political knowing tries to address the â€Å"wherein†. This pattern picks up views of the nurse from the thoughtful nurse-patient relation and tries to position it at the broader context where the nursing takes place. The sociopolitical knowing may be perceived as being understood at two levels. The first level is the sociopolitical context of the persons while the second one is the sociopolitical context of nursing as a profession (Barker, 2009). The term cultural competence can be defined as the capability to understand and respond in an effective manner to the needs such as cultural and linguistic that is brought to the healthcare experience by the health care providers and the organizations (Seright, 2007). Sex can be termed as the various biological and physiol ogical characteristics of male and female whereas the gender can be defined as the socially constructed behaviors, relationships, norms that are considered as appropriate by the society for men and women. The gender inequalities are considered to be a serious issue. The issue is not about the socially constructed differences between men and women. However, it is about that this difference provides rise to discrimination and inequalities. Since both men and women are biologically different, therefore differences in health risk, needs and conditions tend to arise. Social, Political and Cultural Context of Health and Inequalities across a Range of Groups and Contexts It has been found in the history of social work that there have been growing concerns regarding the social inequalities and also upon the focus to diminish systems of oppression. In the case of the British context, the approaches of anti-racist to social work appeared during the year 1980. This was in response to the conce rns over discrimination, inequalities, and injustice in providing the service and delivery along with the racism within the profession itself (Graham & Schiele, 2010). Both the terms oppression and discrimination are grounded on the belief of superiority of one group over the other along with the consequent rights of greater power and opportunity in the society. Oppression can be termed as political, economic and cultural actions and the behaviors that may harm the individuals through exploitation. In nursing, there are various patterns of knowing. However, two more patterns of knowing have also been found and it would be beneficial to include these within the reflection. One of the patterns of knowing is unknowing. Unknowing signifies awareness that the nurse doesn’t understand the patient when they first meet. When the nurse recognizes this unknowing then she tends to remain attentive to the clients’ perspectives. There has been a debate in the nursing literature reg arding the place that sociology occupies in nursing. According to the view of Cooke, nurses tend to have negative attitudes.  Ã‚  

Race & the workplace Essay Example for Free

Race the workplace Essay The information derived from the empirical manipulations of race of worker also revealed that depicted race has an influence to the childrens own aspirations in performing different jobs. Primarily, children ranked their own levels of interest in engaging themselves in the depicted novel jobs as notably lower when the jobs had been solely performed by African Americans than when the jobs are exclusively executed by their European counterparts or by both races. Additionally, this information are exceptionally illustrative in the sense that they clearly signify that race of occupational models – independent from the content and operations of these jobs themselves (held constant) – influences the childrens job preferences (Bigler, Averhart Liben, 2003, p. 578). To supplement the manifestation of racial hints in the childrens assessment about jobs at the group levels, the current information also contribute to our comprehension of influential and group differences in the African American childrens job stereotyping, assessments and aspirations. In conformity with the reality theory developed by Hale (1980) which states that the socio – economic factors do appear to affect the childrens job assessments, especially during their adolescent stage. The older children (11 – 12 years of age) coming from families with lower socio – economic backgrounds exhibited less interest in engaging themselves in common jobs that were dominated by their European counterparts, therefore conceived to be higher in rank. Probably, economic factors are significant in this finding, with children from lower socio – economic backgrounds recognizing that they are financially challenged to seek occupations that demands higher educational attainment (Bigler, Averhart Liben, 2003, p. 578). Conforming with the patterns for familiar jobs, children 11 – 12 years of age from higher – but not lower socio – economic backgrounds, were notably more attracted to engage themselves in novel jobs that they deemed to be exclusively carried out by their European counterparts or represented both races than they were in jobs that appear to be exclusively carried out by African Americans. Apparently, it is not feasible to identify the determinant of race of occupational worker in children from various age brackets and economic class solely on the grounds this set of information (cited in Bigler, Averhart Liben, 2003, p.578).. In reference to the findings of Spencer (1985), primarily and in occupational context, the older African American childrens occupational aspirations are affected by their awareness of race prejudice in the society. Financially challenged children may be significantly unprepared to confront the recognized racial prejudice made by the majority (cited in Bigler, Averhart Liben, 2003, p. 578). There is a possibility that the African American childrens economic constraints concepts lessen their interest in the so – called high – status and difficult – to – reach jobs. Nonetheless, it is certain that as young as 6 years of age, African American children have already formed racial foundations that integrate ideals about occupations. Such foundations substantially influence their job concepts and goals. Then again, these foundations significantly vary in relation to the childrens socio – economic status (Bigler, Averhart Liben, 2003, p. 578). Acknowledging the presence of the two types of vicious cycles to race and jobs, the comparison shown between the ratings of status as well as the race of workers is disturbing. For one, African American children, specifically the impoverished ones, may be more inclined to aspire low – status jobs. Such jobs were minorities are overrepresented in. As a result, the dominance of the minorities is kept. However, this can result to another generation of twisted models of impoverished African American. In addition, while there may be jobs made available for more privileged African Americans, in time, just because of their race, they may be dismissed as lower in status in society. Furthermore levels of pay and prestige may also be brought down low (cited in Bigler, Averhart Liben, 2003, p. 578). Ultimately, it is essential to note that this study is but one of the many steps to take in the development of an understanding of how occupational assessments are influenced by race. Socio – economic status is but an estimated indicator of the family incidents that may influence occupational stereotyping and ambitions. Additional studies should be administered to thoroughly observe how financial restrictions formed vocational hopes and ambitions. Moreover, additional studies should encompass considerations of how families talk about occupations, the kinds of role models presented by parent’s own job and how school and neighborhood context influence occupational stereotyping (Bigler, Averhart Liben, 2003, p. 578). Investigating these issues among other samples of African American children and children from other ethnic and racial groups is also vital. Evidently, additional research is required to provide a deeper understanding of the long – term consequences of children with the aid of racial indication as a factor in shaping their opinions on and interests in employment (Bigler, Averhart Liben, 2003, p. 578). Race, gender and ethnicity in the workplace must not be an issue. Rather is must be a goal (Ishimaru, 2005). A wide array of skills is very much needed in the American workplace today. Nonetheless, it cannot be delivered by selected group of people alone. This is where workplace diversity serves its purpose. Different people from different culture must share and respect each other’s views and opinions to be able to work out a solution to a problem and eventually affect success (cited in Ishimaru, 2005). Every business must aim to diversify. Simply put, it is the right thing to do after all. Workplace diversity makes a sound business sense. This commands attentiveness, conceptualization and dedication to be meaningful. Moreover, it demands willingness to examine the traditional way of transacting business and what is valued in its workers (Ishimaru, 2005). To be able to create an improvement in the workplace diversity, it is important to reassess one’s values and be able to articulate what merit means. As society continues diversify further, promoting employees who exhibited â€Å"diversity ability† to relate well with co –workers setting aside social demarcation must be stressed (Ishimaru, 2005). Hope must not be lost. Hope in the possibility that life in the midst of cultural diversity is possible. More than a possibility, this kind of life is a must. A life lived in harmony between people of different races is a life lived well. This translates and transcends race lines previously demarcated, all for the purpose of the common good (Racebridges. net, 2007). Researches validate that working in a diversified environment is linked with more substantial interracial relations. In addition more interracial friendships are also built here. A culturally mixed neighborhood is also an example of a diversified environment (Estlund, 2003, p. 10). There are grounds to believe that the noticeably increased prevalence of recounted friendship among different races stems mainly from increased relations and integration in the workplace. However, for the most part, it is not plainly a story of friendship. It is also about the mutual but scattered sense of connectedness that surfaces out of our everyday collaboration, casual amiability, common interests, complaints and triumphs and disappointment among co – employees. Even so, their potential asset is suggested by the incidence with which they build authentic friendship beyond social demarcation. Racial friction and discrimination did not disappear. Nevertheless, they were certainly lessened and combined with feelings of unity, deference, friendship and likeness (Estlund, 2003, p.11). In reality, it is only in the workplace where a more sustained and collaborative interaction can be feasible. It is only there when we can witness this kind of scenario. Everyone must seek ways to be able to collaborate with one another at any given time. This kind of collaboration must be made between people of different races, cultural background and sexual hierarchies. Workplace diversity, relations and collaboration that transcend social demarcation can be counted on to produce increased acceptance and affinity. Moreover, it can possibly create less aggression and stereotyping between different races, culture and tradition (Estlund, 2003, p. 12). In contrast to other generations, we now live in a society characteristically more diverse, mobile and incorporated than ever before. Today we share the world with not just complete strangers but significantly unique individuals (Estlund, 2003, p. 20). On one hand, the chance to establish thick and multi – strand bonds founded on likeness does not come as often. On the other, chances to establish bonds that transcend social demarcation abound. Yet forming the kind of bond that transcends social demarcation is not at all easy. Without the aid of some degree of compulsion, this kind of bond is impossible. Even so, when it does, it is more probably to be slender and more fractious than the kind of bond founded on likeness (Estlund, 2003, p. 20). In effect, these bonds can build trust. It can create a feeling of togetherness, unity for a cause. In time, compounded with the progress towards impartiality and incorporation within the workplace and beyond, trust may be fostered too (Estlund, 2003, p. 20). After all, no man can live alone. It is a dictate of human nature that we need other people in order to survive. The world is a melting pot of different cultures and that thing will remain certain. Other than separating oneself from those he deems to be different, may all people just learn to love and embrace each other’s uniqueness. There is much more to the diversity of this world. It is there to remind man of his individuality. It exists to teach the lesson that differences can indeed be a venue to learn other things and see the beauty of the world from another perspective. References (1989). Racism. In The World Book Encyclopedia (Vol. 19, p. 62). USA: The World Book, Inc. Bigler, R. S. , Averhart, C. J. Liben, L. S. (2003). Race and the Workforce: Occupational Status, Aspirations, and Stereotyping Among African American Children. American Psychological Association, 39, 572 – 580. Estlund, C. (2003). Working Together: How Workplace Bonds Strengthen a Diverse Democracy. Oxford: Oxford University Press. Ishimaru, S. J. Employment Rights and Responsibilities Committee.(2005, August). Value of Racial Segregation of the workforce today. Retrieved February 27, 2008, from www. bna. com/bnabooks/ababna/annual/2005/001. pdf. Racebridges. net. (2007). We All Have a Race: Addressing Race and Racism. Retrieved February 27, 2008, from www. racebridges. net/schools/2006_2007_lessons/WeAllHaveARace. pdf. Williams, F. T. Gibbsmagazine. com. (2001, April 9). Racism is Still Alive. Retrieved February 25, 2008, from http://www. gibbsmagazine. com/Racism%20Still.

Properties of Some Ayurvedic Bhasmas

Properties of Some Ayurvedic Bhasmas Investigation of Structure, Microbiological and Cytotoxic Properties of Some Ayurvedic Bhasmas Introduction Ayurveda is the traditional Hindu medicine system practiced extensively in South Asia. In Sanskrit, the word Ayurveda is basically made of two components, Ayush life and Veda science and knowledge. This states clearly that science of life is Ayurveda. From ancient period Ayurvedic medicine is in use with the objectives: i) to enhance health status physically, mentally and spiritually free of illness and ii) to cure disease with the help of natural diet, medicine. In ancient period if people get sick and injured there was a trend of use of medicine which is also known as folk medicine. Use of Bhasmas as Ayurvedic medicine has been known from as an alternative medicine. Use of traditional medicine includes Ayurveda, Ancient Iraninan, Korean and African medicine. But recently WHO has noticed that use of these medicines in inappropriate way may give some negative and toxic results. And research work is to be done for its safety and ascertinity. These days microorganisms are common org anisms for causing disease (Shubha Hiremath, 2010). Some of them can be cured with daily hygienic processes but most of them can be removed and recovered with the use of medicines. Ayurveda is the traditional Hindu medicine system practiced extensively in South Asia. Ayurvedic medicine has wide range of composition, which also includes Bhasmas. Literally, Bhasma is something that is obtained from the process of calcination. Generally, calcination and incineration of any gem or metal substance is performed to prepare such formulations and used in any medicinal purpose as Ayurvedic medicine (Kumar Pal, 2015). The Bhasmas are prepared from metals like gold, silver, iron, lead, mercury and arsenic and so on (see Tables 1 and 2). Metal constituent are supposed to have positive impact to human health through Ayurvedic perspective. However, in modern synthetic medicine heavy metal are considered toxic. The objective of this study is to test the impacts of these drugs on growth of microorganism. Lead, mercury and arsenic is considered as the harmful compound that may lead to different kinds of disease especially cancer (Patra, Bhattacharya, Mukhopadhyay, Mukherjee, 2010). The aim in this work is to analyze the selected Bhasma drugs with respect to their structure, perform their antimicrobial susceptibility tests and also to analyze the cytotoxic effect towards the cell lines. Furthermore, if there is any antimicrobial and cytotoxic behavior of the drugs, the attempts will be made to answer the following questions: Is the given Bhasmas effect related to the presence of heavy metal compound? Is the effect the result of other materials that has been added for the preparation of that Ayurvedic Bhasma? Table 1. Some of the Bhasmas intended to be studied in the proposed work S. No. Name of Bhasma Content (metal) 1 Parad Mercury 2 Hartal Arsenic 3 Manoshila Arsenic 4 Naag Lead 5 Shisak Lead 6 Kajjali Mercury 7 Ras sindur Mercury 8 Kajjali Mercury 9 Jasada Zinc 10 Loha Iron 11 Rajat Silver 12 Sworna Gold Tabl 2: Some Bhasmas that are produced by calcination of corresponding mineral compounds S. No. Name Source 1 Coury Cowry shell 2 Abraka Mica 3 Muga Coral 4 Sankha Conch shell 5 Sipi Oyster shell 6 Moti Pearl shell Ayurveda is an ancient Indian system of medicine dating back to 5000BC. Literally the science of life, it uses animal, plant, mineral and metal based medicines to cure diseases. (Barve, Mashru, Jagtap, Pargiri, Prajapati, 2011) (Patwardhan Mashelkar, 2009) A part of Ayurveda called Rasasatra is concerned with drugs of the metal-mineral origin, their processing technique, properties and therapeutic applications (Sarkar, Das, Prajapati, 2010). In Ayurveda, the drugs with mineral origin are considered more effective than those of animal and plant origin. Generally, metal minerals in the original form are toxic, non-absorbable and dont have medicinal significance. Therefore, are transformed by various standard protocols before being used as drug. Pharmaceuticals with the metal minerals origin are called Bhasmas. Bhasmas is a calcined powder of mineral, metal, gems (Sangale, Suryawanshi, Chikate, Khot, 2014). Sworna (Gold) Bhasmas, Rajata (Silver) Bhasmas, Tamra (Copper) Bhasma, Loha (Iron) Bhasmas, Jasada (Zinc) Bhasmas and ashes of the minerals like Caury (cowry shells), Muga (corals), Sankha (conch shell), Sipi (oyster shell) and others have been extensively used as Bhasmas in Ayurvedic medicine (Adhikari, 2014) (Krishnamachary, et al., 2012) (Sarkar, Das, Prajapati, 2010) (Wadekar, Rode, Bendale, Patil, Prabhune, 2005). The importance of the proper dose and way of administration of Ayurvedic drugs has been studied. It has been found that improper application of the Bhasmas lead to the death of the patients. The death is due to the accumulation of the heavy metals in the soft cells (Sarkar, Das, Prajapati, 2010) (Kapoor, 2010). However, heavy metals are drugs if they are supplied within recommended limits on their labels for plant and animal. Preparation methods determine the therapeutic efficiency as well as level of toxicity of the Bhasmas (Nagarajan, Rajan, Krishnan, Sethuraman, 2014). Formulation of Bhasmas based on standard protocol reveals nanostructured morphology. These metallic nanoparticles are taken along with milk, butter, honey, ghee which eliminate their harmful effects and intensify their biocompatibility (Formulation, 2014). Jasada Bhasma has been used for treatment of diabetes, arthritis and tuberculosis. Rajata Bhasma is used to cure muscles wasting, brain diseases and nervous disorder. Similarly, Sworna Bhasma is used for arthritis and rheumatoid (Adhikari, 2014) (Patwardhan Mashelkar, 2009). These are the ancient formulation of the metal and minerals based drugs in Ayurveda. In modern medicine, the trend of the using the metal nanoparticle is increasing for curing diseases. Modern nanoparticles through a several chemical modifications are used in the preparation of the nanodrugs. Recent trend on modern medicine shows that nanoparticles from gold, silver, iron, zinc can be used against several chronic diseases. Gold nanoparticles have high therapeu tic potential to fight against cancer and act as drug delivery vehicles (Khan, Vishakante, Siddaramaiah, 2013) (Dobrovolskaia McNeil, 2007) (Patra, Bhattacharya, Mukhopadhyay, Mukherjee, 2010). Therefore, the systematic studies of the many Bhasmas are still behind the horizon. Such Bhasmas may have potential for higher therapeutic values for curing chronic diseases. So, to investigate the science behind the different Ayurvedic Bhasmas, in particular with respect to their structiure-properties correlations, and their medicinal values will be the topic of the proposed project. The proposed research will encompass different interesting questions which will be attempted to solve in the course of the study. What is the physico-chemical and microscopic structure of the given Bhama? Is it a kind of nanomedicine with respect to its structure? What is the real chemical compositions? How do Bhasmas differ with respect to their microbiological effects on the human body? Will the Bhasma show significant cytotoxic effect only towards diseased cells? How will the normal cell lines respond? Can a correlation be established between the structure and properties of the Bhasmas? Although heavy metals have proved poisonous effects and have a predominantly unfavorable reputation in the modern scientific society, these have been used as pharmaceutical agents since first century B.C. Traditional literature like Rasatarangini, Charaksamita, Rasratnasammuchaya compiled the processing, manufacturing and therapeutic application of heavy metal containing drugs. Different studies show that formulation with heavy metal has toxic effect. The toxicity level depends upon various factors such as processing of raw materials, method and amount of consumption. Heavy metals with nanoscopic structure are generally absorbable inside cell. Recent trend also shows that nanoparticles of gold, arsenic, silver have pharmaceutical potentiality. Thats why well documented study on Bhasmas prepared from heavy metals is needed for their appropriate use as well as for the proper understanding of their structure-properties relationships. Preliminary works have been performed in a variety of Ayurvedic drugs including some drugs comprising Arsenic compounds (Harital) by the research group comprising the some of these members of the present consortium (Panta, Bhandari and Lamsal, and Adhikari 2017). Microscopic, spectroscopic and antibacterial tests were performed on some of the drugs. The compounds exhibited quite strong antibacterial activities again gram positive and gram negative bacteria. Nanomechanical aspects of the Bhamsa drugs were also review some time ago to find the parallel between modern nanomedicine and ancient ayurvedic Bhasma (Adhikari, 2014). Thus, there is a sufficient background information and nalaytical skill in the research group to perform successfully the proposed research works. The proposed work is aimed at the investigation of physico-chemical structure as well as microbiological and cytotoxic properties of different Bhasmas. To elucidate the composition and structure of Bhasma. To see the positive effect of components, present in Bhasma. To study the toxicity of Bhasma on microorganisms and cell lines. To bridge the gap between modern medicine and traditional medicine practice. The research will begin with detail literature survey to eliminate the possibility of duplication and to determine possibility of conflict of interest. The commercial Bhasma will be collected and sample preparation will be done in accordance to the availability of Bhasma in the market while strictly following the procedure described in the Ayurvedic books. Pertinent physical and chemical properties will be studied and the sample will be sent for characterization. X-Ray Diffraction, Optical Microscopy, Electron Microscopy and Spectroscopic Analysis will be performed. After characterization, based on the composition, the proper solvent for the drugs to enter the cell will be selected. Biological assay will then be carried out according to standard protocol. The assays include anti-microbial, cytotoxicity and antidiabetic. The obtained results of all above tests will be compile and analyzed manually or using computer software wherever applicable. The report will then be prepared. The ab ove process is illustrated in the flowchart below. The research plan including the anylytical procedure is depicted in Scheme 1. Scheme 1: Flowsheet depicting the analytical and research plan for the proposed work         Ã‚   It has been proved by earlier studies that the Bhasmas prepared after using standard protocol should reveal nanoparticles which are thus expected to show anti-microbial activity against pathogenic bacteria and fungi. It is the topic to explorer the opportunities that the Bhasmas might exhibit pharmaceutical potentiality against cancer, diabetic and HIV/ AIDS. This study is expected to deliver the following outcome after completion of the works. Provide necessary scientific foundation for structure and composition of the Bhasmas. This study may be able to clarify the issue of contradiction related to the statement telling Ayurvedic formulations with heavy metals are toxic to health. The study will deliver the structure-antibacterial properties correlations of very important traditional medicinal practice of the country. Limitations This study does not cover any Ayurvedic formulation based on herbs and animals. This research does not include detail mechanism of action of the Bhasmas on tested parameters. This work does not associate in any way to the psychological, psychiatric and social impacts that might arrive after the use of Bhasmas. Delimitations This project will bring Ayurveda from supplemental medicine to main stream treatment practice. This work may change the notion that heavy metals in all form are detrimental to health. The facilities available in the laboratory in the REACST will be primarily sufficient for performing major part of the study. Some of the samples have to be sent to other laboratories. This study associates with a variety of people who have been working with Bhasmas as family business for many generations. The result of this work, if contradicting with their practices, might affect their livelihood. The formulation of Bhasmas will be done in isolated condition using standard protocol and also focus to minimize metal hazards during study. This project does not incorporate all the aspects of heavy metals impact in body. Thus, any action based solely on this work might cause on foreseen effects. S.N Task to be done Tentative time 1 Literature review 8 weeks 2 Chemical and instrument collection 4 weeks 3 Commercial sample collection 4 weeks 4 Sample preparation 16 weeks 5 Characterization 16 weeks 6 Biological Assay Antimicrobial test 4 weeks Cytotoxicity (Anti-cancer) 6 weeks Anti-diabetic 10 weeks 7 Data Analysis 8 weeks 8 Preparation of initial draft of report 8 weeks 9 Finalization of report 12 weeks Total Time 96 weeks = 1 year 10 month Estimated Budget S. No. Title Amount (Rs.) 1. Chemical Formulation Rs. 30,000/- Antimicrobial test Rs. 30,000/- Cytotoxicity test Rs. 40,000/- Antidiabetics test Rs. 40,000/- 2. Instruments Rs. 1,50,000/- 3. Commercial Sample Rs. 10,000/- 4. Transportation and Courier for Characterization Rs. 40,000/- 5. Stationary and Logistics Rs. 30,000/- 6. Miscellaneous (printing, binding, communications etc.) Rs. 20,000/- 7. Laboratory chemicals Rs. 60,000/- Total Rs. 4,50,000/- Today nano-medicine is emerging as new revolution worldwide and has several promises. The exploration of nano-formulations in medical field has made us to dream of several opportunities. The study of the Bhasmas will help to gain those goals. There is higher chance of innovation of new drugs by mixing the indigenous knowledge with modern technology of drug discovery and delivery. These efforts on Bhasmas are directed toward finding solution to crucial issues of infectious disease and in particular tackling with more vulnerability the comeback of diabetics, HIV/AIDS and the devastating spread of cancer in world. However, more effort has to be done to uplift the potentiality of Bhasmas to that of modern nanodrugs. More research is desirable which explore the co-relation between structural nature and mechanism associated with their therapeutic activity. This study can provide pathway to enhance the use of traditional Ayurvedic medicine and helps to preserve the traditional knowledge. References       Adhikari, R. (2014). Ayurvedic Bhasmas: Overview on Nanomaterialistic Aspects, Applications, and Perspectives. Infectious Diseases and Nanomedicine I, 23-32. doi:10.1007/978-81-322-1777-0_3 Barve, M., Mashru, M., Jagtap, C., Pargiri, B. J., Prajapati, P. K. (2011). Therapuetic potentials of metals in ancient India: A review through Charaka Samhita. Journal of Ayurveda and Intregative Medicine, 2(2), 55-63. Retrieved from http://imsear.hellis.org/handle/123456789/172982 Dobrovolskaia, M. A., McNeil, S. E. (2007). Immunological properties of engineered nanomaterials. Nature nanotechnology, 2(8), 469-478. doi:10.1038/nnano.2007.223 Formulation, c. a.-m. (2014). Rasheed, Arun; Naik, Madhu; Haneefa, Kotappadath Pillanayil Mohammed; Kumar, Raveendran Pillai Arun; Azeem, Abdul Kharim. Pak. J. Pharm. Sci, 27(4), 793-800. Retrieved from http://applications.emro.who.int/imemrf/Pak_J_Pharm_Sci/Pak_J_Pharm_Sci_2014_27_4_793_800.pdf Kapoor, R. C. (2010). Some observations on the metal-based preparations in Indian systems of medicine. Indian Journal of Traditional Knowledge, 9(3). Retrieved from http://hdl.handle.net/2248/3544 Khan, M. S., Vishakante, G. D., Siddaramaiah, H. (2013). Gold nanoparticles: a paradigm shift in biomedical applications. Advances in colloid and interface science, 199, 44-58. doi:10.1016/j.cis.2013.06.003 Krishnamachary, B., Rajendran, N., Pemiah, B., Krishnaswamy, S., Krishnan, U. M., Sethuraman, S., Sekar, R. K. (2012). Scientific validation of the different purification steps involved in the preparation of an Indian Ayurvedic medicine, Lauha bhasma. Journal of ethnopharmacology, 142(1), 98-104. doi:10.1016/j.jep.2012.04.021 Kumar Pal, S. (2015). The Ayurvedic Bhasma: The Ancient Science of Nanomedicine. Recent Patents on Nanomedicine, 5(1), 12-18. Nagarajan, S. a., Rajan, K., Krishnan, U., Sethuraman, S. (2014). Scientific insights in the preparation and characterisation of a lead-based naga bhasma. Indian journal of pharmaceutical sciences, 76(1), 38-45. Retrieved from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4007254/ Panta, P, Bhandari, T. R, Lamsal B., and Adhikari, R. unpublished results (2017) Patra, C. R., Bhattacharya, R., Mukhopadhyay, D., Mukherjee, P. (2010). Fabrication of gold nanoparticles for targeted therapy in pancreatic cancer. Advanced drug delivery reviews, 62(3), 346-361. doi:10.1016/j.addr.2009.11.007 Patwardhan, B., Mashelkar, R. A. (2009). Traditional medicine-inspired approaches to drug discovery: Can Ayurveda show the way forward. Drug discovery today, 14(15), 804-811. doi:10.1016/j.drudis.2009.05.009 Sangale, M. D., Suryawanshi, M., Chikate, C., Khot, R. (2014). Comparative studies and analysis of Jasandand Nag bhasma prepared by different Ayurvedic pharmaceuticals. International Journal of Advanced Scientific and Technical Research, 2(4). Retrieved from http://rspublication.com/ijst/2014/april14/29.pdf Sarkar, P. K., Das, S., Prajapati, P. K. (2010). Ancient concept of metal pharmacology based on Ayurvedic literature. Ancient science of life, 29(4), 1-6. Shubha, S. H., Hiremath, R. S. (2010). Evaluation of antimicrobial activity of Rasaka Bhasma. AYU: An International Quarterly Journal of Research in Ayurveda, 31(2), 260-262. Wadekar, M. P., Rode, C. V., Bendale, Y. N., Patil, K. R., Prabhune, A. A. (2005). Preparation and characterization of a copper based Indian traditional drug: Tamra bhasma. Journal of Pharmaceutical and Biomedical Analysis, 39(5), 951-955. doi:10.1016/j.jpba.2005.06.015 Association to national Priority Ayurvedic drugs are indigenous technology of Nepal. The practice incorporates a wide variety of social groups during the raw material collection, purification, processing, delivery and prescription of medicine. Moreover, the need of raw materials opens door to industrial and entrepreneur investment. The work we have proposed thus can impact a variety of national priority which will be described in detail below Bhasma is found to have significant effect on the cure of tuberculosis. They are also expected to cure diabetes, cancer and other non-communicable diseases. The reduction of these communicable and non-communicable disease is a part of the Sustainable Development Goal (SDG). The formulations studied in our work can play a major role in meeting the SDG as well as in improving the health indicators not covered in SDG but is a common health problem in Nepal such as rheumatic and skin disease [SDG] The production and dissemination of Bhasma is a multi-step process requiring a variety of manpower. It demands unskilled manpower for labor works necessary in all steps, semi-skilled manpower for the production and distribution of medicines as well as skilled manpower like doctors, chemists, administrators to supervise the whole operation. Hence understanding and commercialization of Bhasma can significantly contribute to employ not only local manpower but also help bring back the manpower currently outside Nepal. Bhasma is unquestionably the local intellectual property of Nepal which requires protection before it becomes the victim of modern medicine hegemony and foreign trademark. This work will be a step to the documentation, standardization and recognition of the ancient knowledge which is not yet accepted as a scientific truth. Understanding and patenting the rights in the country will prevent local knowledge from being foreign property. This project is also a step towards proper documentation and preservation of rare and endangered books. Preparation of Bhasma is a traditional example of top-down nanofabrication. Nanoscience and nanotechnology is a burning research field. However, only a handful of work has been done in this field. Government as well as private investors are reluctant to investment on nanoscience. This project can be an invitation to industries as well as academia to focus on nanomaterial synthesis and use to solution of everyday problem.

Physics of Robots :: physics robot robots

Definition of a Robot A Robot is a reprogramable, multi-functional manipulator designed to move material, parts, tools, or a specialized devices through variable programmed motions for the performance of variety of tasks. In order to make a robot do anything it has to have a program or a set of programs that tell it to do certain tasks. Robots come in all different shapes and sizes. Some robots have been used to try and look and behave physically like a human being. Other robots are used for home entertainments. For example there is a robotic dog that now for sale that can behave and act like a dog. The nice thing about having a robotic dog is a person could shut it off when they get tired of it. Different Kinds of Robots Some robots have arms, legs, heads, wheels, and etc. There are robots that are used in big industrial factories. General Electric uses robotic arms to weld. The robotic arms can weld with such great precision that it looks perfect. There are also robots that have been used in movies such as Mighty Joe Young, Star Wars, and Jurrasic Park. Then there are also miniture robots that are designed like small insects such as horseflys and ladybugs. You can read about the insect robots in the National Geographics Magazine. The Structure of the Robotic Hand A robotic hand can be designed in different ways. The most important is that there is a wrist, fingers, and a way to move an object. The wrist will give the twisting motion. The fingers will be able to grab an object. Some people use grippers. The grippers work like sicorrs. There are also devices that act like sensory nerves. These devices are either light sensitive or switch activated. That way a robot would be able to tell where a light source is coming from or when it was running into a wall. The hardest part about making a robotic hand do something is to make the open and closing motion with the fingers. Humans have nerves and muscels that alow them to retract and contract their fingers. With a robot cables, motors, or pneumatic hydralics can be used. Strong cables can be used to give easy and quiet movements. Motors used with different gear ratios can make the fingers stronger when gripping or faster. By determining how much work would have to be done on the gear to make it spi n would make the gear lift an object with force.

A Case Study on Cost Estimation and Profitability Analysis

ISSUES IN ACCOUNTING EDUCATION Vol. 26, No. 1 2011 pp. 181–200 American Accounting Association DOI: 10. 2308/iace. 2011. 26. 1. 181 A Case Study on Cost Estimation and Pro? tability Analysis at Continental Airlines Francisco J. Roman ABSTRACT: This case exposes students to the application of regression analyses to be used as a tool pursuant to understanding cost behavior and forecasting future costs using publicly available data from Continental Airlines. Speci? cally, the case focuses on the harsh ? nancial situation faced by Continental as a result of the recent ? ancial crisis and the challenges it faces to remain pro? table. It then highlights the importance of reducing and controlling costs as a viable strategy to restore pro? tability and how regression analysis can assist in this pursuit. Students are next presented with quarterly data for various categories of costs and several potential cost drivers, which they must use to perform regressions on operating costs using a variety of cost drivers. They must then use their regression results to forecast operating costs and conduct a pro? tability analysis to project quarterly pro? ts for the upcoming ? scal year.Finally, students must summarize the main results of their analysis in a memorandum addressed to Continental’s management, providing recommendations to restore pro? ts. In particular, the concept of mixed cost functions is reinforced, as is the understanding of the steps required to perform regression analysis in Excel, interpreting the regression output, and the underlying standard assumptions in regression analysis. The case has been tested and well received in an intermediate cost accounting course and it is suitable for both undergraduate and graduate students. Keywords: cost estimation; pro? ability analysis; cost behavior; regression analyses; cost functions. Data Availability: All data are from public sources and are available in hard copy inside the case. Data are also availabl e in electronic form by the author upon request. INTRODUCTION n 2008, the senior management team at Continental Airlines, commanded by Lawrence Kellner, the Chairman and Chief Executive Of? cer, convened a special meeting to discuss the ? rm’s latest quarterly ? nancial results. A bleak situation lay before them. Continental had incurred an operating loss of $71 million dollars—its second consecutive quarterly earnings de-I Francisco J. Roman is an Assistant Professor at Texas Tech University. I thank Kent St. Pierre editor , Michael Costa, and two anonymous referees for their suggestions on previous versions of the case. Editor’s note: Accepted by Kent St. Pierre Published Online: February 2011 181 182 Roman cline that year. Likewise, passenger volume was signi? cantly down, dropping by nearly 5 percent from the prior year’s quarter. Continental’s senior management needed to act swiftly to reverse this trend and return to pro? tability. Being the fourth largest airline in the U.S. and eighth largest in the world, Continental was perceived as one of the most ef? ciently run companies in the airline industry. Nonetheless, 2008 brought unprecedented challenges for Continental and the entire industry as the United States and much of the world was heading into a severe economic recession. Companies cutting deeply into their budgets for business travel, the highest yielding component of Continental’s total revenue, together with a similar downward trend from the leisure and casual sector, combined to sharply reduce total revenue.Concurrent with this revenue decline, the price of jet fuel soared to record levels during 2008. 1 Thus, while revenue was decreasing, Continental was paying almost twice as much in fuel costs. Interestingly, fuel costs surpassed the ? rm’s salaries and wages as the highest cost in Continental’s cost structure. This obviously had a negative impact on the bottom line, squeezing even fur ther the already strained pro? t margins. The outlook for a quick recovery in the U. S. economy and, consequently, an upturn in the demand for air travel in the short term did not seem likely.Continental’s internal forecasts indicated that a further decline in passenger volume should be anticipated throughout 2009, with a recovery in travel possibly occurring by the middle of 2010. To summarize, adverse economic conditions in the U. S. , coupled with the rise in fuel costs, were dragging down Continental’s pro? ts and relief was unlikely through the foreseeable future. THE DECISION TO REDUCE FLYING CAPACITY AND THE IMPACT ON OPERATING COSTS Given the situation described above, management needed to act swiftly to restore pro? tability. Several strategic options were evaluated.Since the U. S. and much of the world was facing a severe recession, the prospect for growing revenues by either raising airfares or passenger volume seemed futile. Contrary to raising revenue, Con tinental’s managers believed that raising fares could potentially erode future revenues beyond the present level. Discounting fares did not seem a plausible solution either, because given the severity of the economic situation a fare cut could fall short in stimulating additional passenger demand and lead to lowering revenues. Thus, because management anticipated that revenues would remain ? t for most of the year, the only viable short-term solution to restoring pro? ts was a substantial and swift reduction in operating costs. This could most effectively be accomplished in two ways. First, through a reduction in ? ying capacity adjusted to match projected passenger demand. With this in mind, Continental’s management agreed to reduce ? ying capacity by 11 percent on domestic and international routes. 2 As a result of this action, Continental would eliminate the least pro? table or unpro? table ? ights and, accordingly, would ground several planes in the ? eet.Managemen t anticipated that this decision would reduce several of the ? rm’s operating costs. Apart from this, Continental could achieve further reductions in costs by implementing several cost-cutting initiatives and through operational ef? ciencies. For example, management pro- 1 2 To illustrate, jet fuel is tied to the price of oil and, over the past year, oil prices surged from about $70 to $135 per barrel. Consequently, the price of jet fuel increased markedly, from an average of $1. 77 per gallon to $4. 20 by the mid-summer of 2008. Speci? cally, on June 13, 2008, Continental Airlines announced that it planned to reduce its ? ght capacity by 11 percent. By shrinking capacity, Continental expected to reduce the number of domestic and international ? ights from its three major hubs in Houston, Cleveland, and Newark Maynard 2008 . Issues in Accounting Education American Accounting Association Volume 26, No. 1, 2011 A Case Study on Cost Estimation and Pro? tability Analysis at Conti nental Airlines 183 jected that it could achieve reductions in Passenger Services expenses by consolidating several tasks during passenger check-in and by reducing food and beverage waste served during ? ights. Additionally, the ? m could reduce various miscellaneous expenses through targeted cuts in discretionary spending. In sum, to close the gap in pro? tability, Continental’s strategy was geared toward slashing operating costs by cutting capacity and through aggressive identi? cation and implementation of cost-cutting initiatives. The next step would be for management to know precisely how their decision to downsize capacity would impact the ? rm’s future operating costs, and also identify speci? c areas in which the ? rm could achieve additional cost reductions. Additionally, the cost analysis would help forecast the ? m’s operating costs and projected pro? ts or losses for the upcoming ? scal year. However, before we can proceed with such analysis, an exam ination of how the various categories of Continental’s costs behave is in order. Before we begin, let us prepare with an overview of the airline industry and its competitive landscape, and an understanding of why cost behavior bears particular relevance in this case. Relative to other industries, airlines are a very dif? cult business to manage. In particular, they are exposed to tremendous risks brought by volatility inherent in their business model, as they deal with high ? ed costs, labor unions, instability in fuel prices, weather and natural disasters, passenger safety, and security regulations. These aspects bring a large burden to airlines’ cost structures. Moreover, competition within the industry is ? erce; the proliferation of discount carriers, such as Southwest Airlines and, most recently, Jet Blue, and the end of fare regulation in 1978, has hindered airlines’ pricing power and their ability to spur revenues. For these reasons, cost containment is a critically important aspect of pro? tability in this industry.In order for Continental to restore pro? tability in this harsh environment of weak demand for air travel, it must be able to contain its operating costs, especially its massive ? xed costs, which are visible in several ways. For example, salaries for pilots, ? ight attendants, and mechanics, as well as aircraft leasing costs, are typically ? xed, varying little with shifts in passenger volume. Because ? xed costs typically embody the amount of operating capacity of a ? rm, they are commonly referred as â€Å"capacity† costs. Since ? xed costs do not self-adjust to ? ctuations in passenger volume, the only way in which they can be decreased or increased is if management adjusts them in accordance to the level of operating capacity. In contrast, other costs, such as passenger services and reservation and distribution costs, behave as variable and would self-adjust with variations in volume or operating activity. He nce, to assess the impact of this strategic decision to alter Continental’s cost structure, and identify the areas that could achieve the greatest reduction in costs, we must resolve how Continental’s operating costs behave and what drives them.In what follows, we learn how to apply regression analyses to examine cost behavior and forecast future costs, and then use that knowledge to assess how the reduction in ? ying capacity would affect Continental’s operating costs and pro? tability in the near term. ESTIMATING COSTS USING REGRESSION ANALYSES The previous discussion highlighted the importance of examining the behavior of Continental’s operating costs to pave the way for a cost and pro? tability analysis using regression analysis. Regression analysis is a powerful statistical tool that is frequently used by ? ms to examine cost behavior and predict future costs. The idea behind regression analysis is straightforward: historical data for costs, and the various activities that could potentially drive operating costs, are inserted into a mathematical calculation which yields the average amount of change in that particular cost that has occurred over time. Average values provided by regression calculations may then be applied to estimate future change that will occur in that cost given a one-unit change in one or Issues in Accounting Education Volume 26, No. 1, 2011 American Accounting Association 184 Roman ore of the business activities which drive that cost. 3 More precisely, in a regression model, cost is a function of one or more business activities or factors underlying a business operation. Simply put, the business activities are the drivers of operating costs. Therefore, since activities drive costs, our ? rst step in the estimation of a cost function is to identify the underlying activities or other potential factors that drive the cost in question—the cost drivers. This requires extensive knowledge of the business ope ration. In the case of Continental Airlines, the potential drivers of operating costs vary greatly.For instance, as previously noted, the number of passengers that Continental ? ies may drive the costs related to Passenger Services. Likewise, Aircraft Maintenance and Repairs costs could be driven by the number of aircraft in the ? eet and by the level of ? ying capacity set by Continental i. e. , available seat miles . In synthesis, to predict how Continental’s operating costs would be affected by the decision to reduce capacity, and to identify those areas in which additional room is available for cost cutting, we need to identify which costs in this ? rm’s cost structure behave as variable, ? ed, or mixed in which elements of both variable and ? xed are observable . Equally important, we should also identify the speci? c drivers if any of each cost. Your job is to assist management in their quest to restore pro? tability at Continental Airlines. Speci? cally, you mus t conduct regression analyses to examine cost behavior and then use this information to forecast operating costs and pro? tability for the upcoming year. As part of your cost analysis, you should investigate how the decision to cut ? ying capacity would impact the ? rm’s future operating costs and, equally important, identify those speci? expense categories or operating areas in which this ? rm could attain additional costs saving by implementing cost-cutting initiatives. Your conclusions should be outlined in a memorandum directed to Continental’s Executive management team. You are provided next with a description of Continental’s operating costs and the potential drivers of costs so you can conduct regression analysis to estimate the corresponding cost functions. To help you in estimating the regressions, a comprehensive set of instructions for performing regression analysis using Microsoft Excel is provided in the Appendix.Immediately following the descriptio n of costs, a series of questions is provided that should help guide your analysis. Additionally, to help you estimate your regressions, Exhibit 1 presents past quarterly data for all of the above expenditures for the period of January 2000 through December 2008, while Exhibit 2 provides quarterly operations data for the same period of time. CONTINENTAL’S OPERATING COSTS AND POTENTIAL COST DRIVERS As shown in Exhibit 1, there are ten categories of operating costs.These include salaries and wages, aircraft fuel and related taxes, aircraft rentals, airport fees, aircraft maintenance and repairs, depreciation and amortization, distribution costs, passenger services, regional capacity purchases, and other expenses. Of these, some represent a single expense item. For example, the cost of aircraft rentals and airport fees together comprise a single cost item. Other costs represent cost pools comprising several cost items. Such is the case of passenger services and other expenses. T he following provides a detailed description of each cost, along with the potential cost drivers. 3 4 For ease in exposition, cost functions and regression analyses are discussed brie? y here. For further insight on cost functions and on the mechanics of regression analyses, I refer the reader to the Appendix. A cost driver represents a particular business activity, which usually tends to have a cause-and-effect relationship with a given cost. For example, for airlines, a typical cost driver for landing fees is the number of daily ? ights carried by the airline, as well as the number of passengers ? own. An increase decrease in the number of ? ights or passengers ? own would increase decrease landing fees.Issues in Accounting Education American Accounting Association Volume 26, No. 1, 2011 A Case Study on Cost Estimation and Pro? tability Analysis at Continental Airlines 185 EXHIBIT 1 REVENUES AND OPERATING COSTS DATA Obs. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 Obs. 1 2 3 4 5 6 Period 1Q-2000 2Q-2000 3Q-2000 4Q-2000 1Q-2001 2Q-2001 3Q-2001 4Q-2001 1Q-2002 2Q-2002 3Q-2002 4Q-2002 1Q-2003 2Q-2003 3Q-2003 4Q-2003 1Q-2004 2Q-2004 3Q-2004 4Q-2004 1Q-2005 2Q-2005 3Q-2005 4Q-2005 1Q-2006 2Q-2006 3Q-2006 4Q-2006 1Q-2007 2Q-2007 3Q-2007 4Q-2007 1Q-2008 2Q-2008 3Q-2008 Q-2008 Revenues Fuel Salaries and Wages Capacity Purchases Aircraft Rentals Landing Fees 2,277,000,000 334,000,000 672,000,000 — 206,000,000 2,571,000,000 313,000,000 719,000,000 — 210,000,000 2,622,000,000 354,000,000 748,000,000 — 215,000,000 2,429,000,000 392,000,000 736,000,000 — 213,000,000 2,451,000,000 345,000,000 758,000,000 — 214,000,000 2,556,000,000 349,000,000 800,000,000 — 223,000,000 2,223,000,000 322,000,000 779,000,000 — 230,000,000 1,739,000,000 213,000,000 684,000,000 — 236,000,000 1,993,000,000 208,000,000 732,000,000 — 228,000,000 2,192,000,000 254,000,000 746,000, 000 — 231,000,000 2,178,000,000 76,000,000 743,000,000 — 227,000,000 2,039,000,000 285,000,000 738,000,000 — 216,000,000 2,042,000,000 347,000,000 778,000,000 — 223,000,000 2,216,000,000 302,000,000 762,000,000 — 224,000,000 2,365,000,000 316,000,000 778,000,000 — 225,000,000 2,247,000,000 290,000,000 738,000,000 158,000,000 224,000,000 2,307,000,000 333,000,000 688,000,000 317,000,000 220,000,000 2,553,000,000 387,000,000 711,000,000 328,000,000 222,000,000 2,602,000,000 414,000,000 703,000,000 347,000,000 224,000,000 2,437,000,000 453,000,000 717,000,000 359,000,000 225,000,000 2,505,000,000 470,000,000 715,000,000 353,000,000 227,000,000 2,857,000,000 75,000,000 649,000,000 382,000,000 229,000,000 3,001,000,000 684,000,000 646,000,000 406,000,000 234,000,000 2,845,000,000 714,000,000 639,000,000 431,000,000 238,000,000 2,947,000,000 672,000,000 661,000,000 415,000,000 245,000,000 3,507,000,000 744,000,000 791,000,000 454,000,000 248,000,0 00 3,518,000,000 858,000,000 743,000,000 475,000,000 249,000,000 3,156,000,000 760,000,000 680,000,000 447,000,000 248,000,000 3,179,000,000 684,000,000 726,000,000 430,000,000 248,000,000 3,710,000,000 842,000,000 821,000,000 444,000,000 248,000,000 3,820,000,000 895,000,000 836,000,000 446,000,000 249,000,000 3,523,000,000 33,000,000 744,000,000 473,000,000 249,000,000 3,570,000,000 1,048,000,000 729,000,000 506,000,000 247,000,000 4,044,000,000 1,363,000,000 704,000,000 589,000,000 246,000,000 4,072,000,000 1,501,000,000 765,000,000 553,000,000 244,000,000 3,471,000,000 993,000,000 760,000,000 425,000,000 240,000,000 129,000,000 138,000,000 133,000,000 132,000,000 141,000,000 153,000,000 139,000,000 148,000,000 161,000,000 160,000,000 163,000,000 149,000,000 152,000,000 152,000,000 165,000,000 151,000,000 160,000,000 163,000,000 171,000,000 160,000,000 171,000,000 181,000,000 182,000,000 174,000,000 185,000,000 198,000,000 195,000,000 86,000,000 193,000,000 190,000,000 209,000,00 0 198,000,000 207,000,000 210,000,000 225,000,000 210,000,000 Period Distribution Costs Aircraft Maintenance Depreciation Passenger Services Other Expenses 1Q-2000 2Q-2000 3Q-2000 4Q-2000 1Q-2001 2Q-2001 248,000,000 261,000,000 255,000,000 217,000,000 243,000,000 230,000,000 159,000,000 171,000,000 167,000,000 149,000,000 160,000,000 162,000,000 95,000,000 98,000,000 102,000,000 107,000,000 105,000,000 111,000,000 85,000,000 91,000,000 97,000,000 89,000,000 91,000,000 96,000,000 286,000,000 284,000,000 288,000,000 277,000,000 318,000,000 295,000,000 (continued on next page)Issues in Accounting Education Volume 26, No. 1, 2011 American Accounting Association 186 Obs. 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 Obs. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Roman Period Distribution Costs Aircraft Maintenance Depreciation Passenger Services Other Expenses 3Q-2001 4Q-2001 1Q-2002 2Q-2002 3Q-2002 4Q-2002 1Q-2003 2Q-2003 3Q-2003 4Q-2003 1Q-2004 2Q-2004 3 Q-2004 4Q-2004 1Q-2005 2Q-2005 3Q-2005 4Q-2005 1Q-2006 2Q-2006 3Q-2006 4Q-2006 1Q-2007 2Q-2007 3Q-2007 4Q-2007 1Q-2008 2Q-2008 3Q-2008 4Q-2008 194,000,000 142,000,000 172,000,000 158,000,000 138,000,000 124,000,000 27,000,000 138,000,000 131,000,000 135,000,000 137,000,000 140,000,000 139,000,000 136,000,000 138,000,000 154,000,000 154,000,000 142,000,000 160,000,000 178,000,000 157,000,000 155,000,000 161,000,000 176,000,000 171,000,000 174,000,000 182,000,000 194,000,000 182,000,000 159,000,000 142,000,000 104,000,000 114,000,000 119,000,000 119,000,000 124,000,000 133,000,000 126,000,000 135,000,000 115,000,000 112,000,000 102,000,000 107,000,000 93,000,000 112,000,000 106,000,000 116,000,000 121,000,000 127,000,000 140,000,000 140,000,000 140,000,000 144,000,000 169,000,000 166,000,000 142,000,000 159,000,000 167,000,000 52,000,000 135,000,000 120,000,000 131,000,000 106,000,000 112,000,000 112,000,000 114,000,000 116,000,000 110,000,000 110,000,000 108,000,000 104,000,000 105,0 00,000 104,000,000 102,000,000 99,000,000 98,000,000 97,000,000 95,000,000 96,000,000 97,000,000 99,000,000 99,000,000 99,000,000 101,000,000 106,000,000 107,000,000 106,000,000 108,000,000 112,000,000 111,000,000 89,000,000 71,000,000 77,000,000 73,000,000 78,000,000 68,000,000 70,000,000 73,000,000 81,000,000 73,000,000 69,000,000 76,000,000 84,000,000 77,000,000 77,000,000 84,000,000 91,000,000 80,000,000 82,000,000 90,000,000 97,000,000 87,000,000 90,000,000 9,000,000 105,000,000 95,000,000 96,000,000 107,000,000 113,000,000 91,000,000 121,000,000 166,000,000 382,000,000 454,000,000 276,000,000 277,000,000 320,000,000 91,000,000 250,000,000 455,000,000 304,000,000 279,000,000 287,000,000 278,000,000 316,000,000 280,000,000 282,000,000 305,000,000 293,000,000 323,000,000 313,000,000 333,000,000 340,000,000 357,000,000 357,000,000 328,000,000 356,000,000 427,000,000 461,000,000 372,000,000 Period Total Aircraft 1Q-2000 2Q-2000 3Q-2000 4Q-2000 1Q-2001 2Q-2001 3Q-2001 4Q-2001 1Q-200 2 2Q-2002 3Q-2002 4Q-2002 1Q-2003 2Q-2003 514 522 535 522 548 557 501 522 538 570 570 554 562 70 OPERATIONS AND COST DRIVER DATA Leased Aircraft Flights Passengers Available Seat Miles 403 410 414 398 406 416 377 393 400 404 401 410 419 428 98,820 97,871 97,967 98,378 98,590 99,018 98,564 81,109 81,883 82,815 81,737 78,809 75,178 75,617 11,201,000 12,084,000 12,155,000 11,456,000 11,220,000 12,256,000 11,254,000 9,508,000 12,062,000 13,099,000 13,006,000 12,874,000 11,518,000 13,044,000 20,951,000,000 21,384,000,000 22,356,000,000 21,409,000,000 21,459,000,000 22,813,000,000 21,994,000,000 18,219,000,000 20,375,000,000 22,286,000,000 22,626,000,000 21,054,000,000 20,843,000,000 21,241,000,000 Available SeatMiles Regional — — — — — — — — — — — — 1,767,000,000 2,073,000,000 (continued on next page) Issues in Accounting Education American Accounting Association Volume 26, No. 1, 2011 A Case Study on Cos t Estimation and Pro? tability Analysis at Continental Airlines Obs. 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 Obs. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 Period Total Aircraft 3Q-2003 4Q-2003 1Q-2004 2Q-2004 3Q-2004 4Q-2004 1Q-2005 2Q-2005 3Q-2005 4Q-2005 1Q-2006 2Q-2006 3Q-2006 4Q-2006 1Q-2007 2Q-2007 3Q-2007 4Q-2007 1Q-2008 2Q-2008 3Q-2008 4Q-2008 187 OPERATIONS AND COST DRIVER DATALeased Aircraft Flights Passengers Available Seat Miles 570 579 586 587 592 594 598 604 611 622 630 634 648 648 630 625 631 628 641 630 653 632 428 434 437 440 445 448 453 459 466 477 483 484 482 480 446 418 415 415 414 390 412 397 76,297 75,650 74,859 75,816 74,211 74,443 71,494 74,651 74,630 75,886 74,962 77,729 77,468 79,030 78,601 82,582 81,118 80,850 76,719 76,096 78,599 76,000 Available Seat Miles Regional 13,727,000 13,769,000 12,810,000 14,558,000 14,862,000 14,252,000 14,122,000 15,540,000 15,905,000 15,448,000 15,594,000 17,596,000 17,328,000 16,601,0 00 16,176,000 18,120,000 17,901,000 16,733,000 16,440,000 7,108,000 17,962,000 15,183,000 22,819,000,000 21,907,000,000 22,670,000,000 24,150,000,000 24,674,000,000 23,588,000,000 23,585,000,000 25,482,000,000 26,833,000,000 25,720,000,000 26,117,000,000 28,259,000,000 29,262,000,000 27,280,000,000 27,250,000,000 29,592,000,000 30,346,000,000 28,550,000,000 28,376,000,000 30,304,000,000 30,383,000,000 26,448,000,000 1,605,000,000 2,980,000,000 2,400,000,000 2,603,000,000 1,999,000,000 3,408,000,000 2,740,000,000 3,026,000,000 3,112,000,000 3,095,000,000 3,082,000,000 3,374,000,000 3,503,000,000 3,292,000,000 3,126,000,000 3,177,000,000 3,193,000,000 3,104,000,000 3,098,000,000 ,450,000,000 3,390,000,000 3,046,000,000 Period Passenger Miles Flown Employees Fuel Price Fuel Consumed 1Q-2000 2Q-2000 3Q-2000 4Q-2000 1Q-2001 2Q-2001 3Q-2001 4Q-2001 1Q-2002 2Q-2002 3Q-2002 4Q-2002 1Q-2003 2Q-2003 3Q-2003 4Q-2003 1Q-2004 2Q-2004 3Q-2004 4Q-2004 1Q-2005 2Q-2005 15,005,000,000 16,491,000,000 17,325,000,000 15,340,000,000 15,114,000,000 17,053,000,000 16,206,000,000 12,767,000,000 14,867,000,000 16,489,000,000 16,960,000,000 17,252,000,000 14,352,000,000 16,129,000,000 18,041,000,000 16,412,000,000 16,255,000,000 18,735,000,000 19,922,000,000 18,239,000,000 18,112,000,000 20,292,000,000 45,000 45,500 46,000 5,944 38,396 39,000 39,500 39,461 40,229 41,011 41,809 40,244 38,960 39,000 39,500 39,000 38,240 37,496 36,766 38,255 41,831 45,742 $0. 829 $0. 797 $0. 865 $0. 885 $0. 856 $0. 815 $0. 824 $0. 826 $0. 644 $0. 723 $0. 760 $0. 740 $1. 029 $0. 881 $0. 857 $0. 872 $1. 041 $1. 787 $1. 199 $1. 190 $1. 453 $1. 670 377,000,000 386,000,000 398,000,000 372,000,000 369,000,000 391,000,000 373,000,000 369,000,000 308,000,000 332,000,000 340,000,000 316,000,000 305,000,000 308,000,000 330,000,000 314,000,000 320,000,000 347,000,000 345,000,000 321,000,000 324,000,000 344,000,000 (continued on next page) Issues in Accounting EducationVolume 26, No. 1, 2011 American Accounting Associ ation 188 Roman Period 23 24 25 26 27 28 29 30 31 32 33 34 35 36 Passenger Miles Flown Employees Fuel Price Fuel Consumed 3Q-2005 4Q-2005 1Q-2006 2Q-2006 3Q-2006 4Q-2006 1Q-2007 2Q-2007 3Q-2007 4Q-2007 1Q-2008 2Q-2008 3Q-2008 4Q-2008 Obs. 21,762,000,000 20,033,000,000 20,336,000,000 23,367,000,000 24,042,000,000 21,772,000,000 21,450,000,000 24,623,000,000 25,422,000,000 22,670,000,000 22,280,000,000 24,836,000,000 24,746,000,000 20,825,000,000 50,018 42,200 42,600 43,450 41,500 38,033 41,800 43,300 41,400 39,640 43,000 40,100 43,500 42,490 $1. 880 $1. 776 $1. 904 $2. 10 $2. 215 $2. 064 $1. 895 $2. 079 $2. 206 $2. 499 $2. 797 $3. 856 $3. 450 $2. 925 364,000,000 344,000,000 347,000,000 375,000,000 387,000,000 362,000,000 361,000,000 395,000,000 406,000,000 380,000,000 375,000,000 389,000,000 395,000,000 339,000,000 EXHIBIT 2 PROJECTIONS OF REVENUES AND OPERATING ACTIVITY FOR YEAR 2009 Variable Revenues Available seat miles Available regional seat miles Number of passengers Number of planes Number leased planes Price of fuel per gallon Gallons of fuel consumed Quarter 1 Quarter 2 Quarter 3 Quarter 4 $2,962,000,000 26,323,000,000 2,971,000,000 14,408,000 634 398 $1. 82 403,000,000 2,767,000,000 28,007,000,000 3,044,000,000 16,348,000 617 394 $2. 07 430,000,000 $2,947,000,000 28,933,000,000 3,130,000,000 16,795,000 604 380 $1. 99 369,000,000 $2,462,000,000 26,291,000,000 3,002,000,000 15,258,000 601 379 $1. 98 479,000,000 All ? nancial and operational data represent quarterly data for the quarter beginning January 2000 Observation 1 through December 2008. Data have been compiled from Continental’s 8-K and10-K reports, submitted to the Securities and Exchange Commission. De? nitions of Operations Variables: Available seat miles the number of seats available multiplied by the number of miles ? wn; Available regional seat miles available seat miles on regional routes; Number of passengers number of paying passengers ? own; Number of planes number of planes in the ? eet, including regional routes aircraft; Number of leased planes number of leased planes; Price of jet fuel average price per gallon of jet fuel in the respective quarter; and Gallons of fuel consumed number of gallons of fuel consumed in the respective quarter. Salaries and Wages This account represents costs related to salaries and wages, as well as fringe bene? ts, of Continental’s workers. These include salaries for pilots and wages for ? ght attendants and ground crew, as well as wages for Continental’s mechanics. Additionally, a signi? cant portion of this salary pool represents wages of reservation specialists, customer service representatives at airports, and the salaries for administrative and support personnel e. g. , ? ight schedulers, technology Issues in Accounting Education American Accounting Association Volume 26, No. 1, 2011 A Case Study on Cost Estimation and Pro? tability Analysis at Continental Airlines 189 personnel, accountants, and division managers . A possible cost driver of salaries is the available seat miles. Aircraft Fuel and Related Taxes This represents the cost of jet fuel and related fuel taxes. Jet fuel cost tends to be driven by the current price of jet fuel and gallons of jet fuel consumed. Aircraft Rentals These are expenses for capital leases of aircraft. The main driver is the number of leased planes in Continental’s ? eet, including regional jets operated on behalf of Continental by four regional airlines under various capacity purchase agreements. Airport Fees Represents landing fees and passenger security fees paid to the various domestic and international airports where Continental ? ies.Landing fees are driven by the number of passengers. Aircraft Maintenance and Repairs These are expenses associated with the service and maintenance of planes. These include expenses related to scheduled maintenance, spare parts and materials, and airframe and engine overhauls. The main drivers of these cost s are the number of planes in the ? eet and the number of miles ? own. Depreciation and Amortization This represents depreciation and amortization expenses of aircraft, ground equipment, buildings, and other property. It must be emphasized that the largest portion of depreciation expense relates to the depreciation of aircraft.Although depreciation expenses are driven by the acquisition cost of Continental’s capital assets, depreciation is greatly in? uenced by both company policy and accounting principles, such as the depreciation method, that a ? rm adopts. Distribution Costs These expenses represent credit card discount fees, booking fees, and travel agency commissions, all of which are affected by passenger revenue. Therefore, the driver of these costs is total revenue. Passenger Services This is also a cost pool that includes expenses related to processing and servicing passengers prior to take-off, during ? ight, and after arrival at their destination.A signi? cant port ion of these costs is generated by Continental’s Field Services Division, the main function of which is to provide service to planes prior to take-off. Some of these expenses relate to checking in passengers, handling luggage on and off planes, cleaning planes, stocking planes with beverage and food, and refueling the aircraft prior to take-off. The potential cost driver of these costs is the number of passengers. Regional Capacity Purchases These are costs related to the purchase of regional routes served by several regional airlines on behalf of Continental ExpressJet, Chautauqua, CommutAir, and Cogan .These costs are 5 Available seat miles is calculated as the number of seats available for passengers multiplied by the number of scheduled miles those seats are ? own. Issues in Accounting Education Volume 26, No. 1, 2011 American Accounting Association 190 Roman driven by the combined ? ying capacity of the four airlines: available regional seat miles. Other Expenses This is a cost pool that comprises many ancillary and discretionary expenditures, including technology expenses, security and outside services, general supplies, and advertising and promotional expenses.Further, this cost pool contains various special charges for gains and losses from the sale of retired aircraft and costs of future leases. Given the large variety of miscellaneous items, there is no clear driver of these expenses; however, a large portion of them, such as advertising and promotional expenses, are driven by total revenue. DISCUSSION QUESTIONS 1. 2. 3. 4. 5. 6 Using the quarterly data for operating costs and the various cost drivers of costs provided by Exhibits 1 and 2, estimate regression for cost category of costs.Then, write the appropriate cost function for each category of cost and then interpret your regression results. Based on your regression results, where do you see the largest reductions in costs if ? ying capacity is lowered by 11 percent? Also, in which areas d o you see opportunities to achieve further cost reductions and why? Exhibit 2 provides a quarterly forecast of revenues, jet fuel prices,6 and the projected operating activity for 2009. Using the information from your regressions and the forecast information provided in Exhibit 2, estimate Continental’s operating costs and expected pro? for the upcoming ? scal year. Based on the results of your pro? tability analysis, what can you say about the ? rm’s ? nancial outlook? Would Continental be earning an operating pro? t in 2009? If not, what should Continental’s management do to restore pro? tability in 2009? Summarize your conclusions in a memorandum addressed to Continental’s CEO. In the memo, you must clearly communicate your main ? ndings, emphasizing speci? c areas in which you see the greatest potential to achieve further reductions in costs and, based on your pro? tability analysis, sum up the ? nancial outlook for 2009.You should note that Continent al has entered into several future contracts to hedge the exposed risks of rising fuel prices. The projected costs for jet fuel on exhibit re? ects the value of the various future contracts which guarantee Continental a ? xed price for jet fuel at various maturity dates in 2009, as well the estimated gallons of fuel that Continental plans to use during the year. Issues in Accounting Education American Accounting Association Volume 26, No. 1, 2011 A Case Study on Cost Estimation and Pro? tability Analysis at Continental Airlines 191 CASE LEARNING OBJECTIVES AND IMPLEMENTATION GUIDANCECost estimation is a fundamental aspect of managerial/cost accounting Datar et al. 2008; Eldenburg and Wolcott 2005 . For example, cost estimation is critical for developing budgets, setting up cost standards, inventory valuation, product costing, and many other applications. Ultimately, ? rms’ ability to accurately predict production and operating costs has a profound impact on decision-making. A dditionally, given the frequency with which ? rms downsize or expand their operations in response to economic or market-wide conditions, knowing how this strategic decision of scaling output impacts ? ms’ future operating costs, and which tools can facilitate this task, has become increasingly relevant for ? rms. Nonetheless, despite its importance, cost estimation is a topic that merits further discussion in accounting textbooks. Although several managerial/cost accounting textbooks provide rich theoretical discussions of cost estimation, including cost behavior, cost functions, and, to some extent, regression analyses, the examples that are typically used to illustrate such an important concept often lack a sense of realism. Either ? titious data are commonly used in cost estimation, or the examples covered fail to capture realistic situations faced by ? rms in a â€Å"real world† context. Accordingly, this case aims to close this gap. The objective is to support stu dents in learning how to apply regression analyses to understand cost behavior and forecast future costs using real data from ? rms. The case focuses on the harsh ? nancial situation faced by Continental Airlines as a result of the recent ? nancial crisis and the challenges it faces to remain pro? table.It then highlights the importance of reducing and controlling costs as a viable strategy to restore pro? tability, and how regression analysis can assist in this pursuit. Students are next presented with quarterly data for various categories of costs and several potential cost drivers, which they must analyze and then perform regressions on operating costs using a variety of cost drivers. Based on these results, students have to examine how costs behave and then use the regression output to forecast the ? rm’s operating costs for year 2009. As part of the cost analysis, students must also identify speci? areas in which Continental could achieve the largest cost savings as a re sult of cutting capacity and implementing other cost-cutting measures. Apart from this, they must conduct a pro? tability analysis to project quarterly pro? ts for the upcoming ? scal year. The learning objectives of the case are as follows: 1. 2. 3. Students learn to conduct regression analysis in Excel and use this technique to study cost behavior and forecast future costs. Students also learn how to use actual ? rm-level data from public sources for estimating costs, and apply cost estimation in a â€Å"real world† context that involves a widespread decision among ? ms: downsizing capacity. Moreover, learning to use public ? nancial information in cost estimation could have implications that reach beyond accounting; learning to access public ? nancial information exposes students to the possibilities of applying regression analysis for business analysis in general, including cost and pro? tability analyses. The case requires students to synthesize their ? ndings in a memor andum addressed to Continental’s CEO; thus, students are also exposed to re? ning their writing skills in a business setting. Implementation GuidanceThis case is primarily designed for use in an intermediate managerial/cost accounting undergraduate class; however, it could also work well in a graduate-level managerial accounting course, at either the master’s level or M. B. A. Issues in Accounting Education Volume 26, No. 1, 2011 American Accounting Association 192 Roman The realistic nature of the setting everyone can easily identify with the business model of airlines makes a particularly appealing environment for students to learn how regression analyses can be applied in cost estimation in a real-world context.The questions presented in the case include both practical and theoretical questions. As an augmentation of the principles contained in the application of this case, instructors could enhance the student experience by devoting time to reviewing the concepts o f cost functions and cost estimation, as well as discussing the fundamentals of regression analyses, so students can be exposed to these concepts prior to receiving the case. Alternatively, students can review these concepts on their own.The Appendix provides a detailed explanation of cost functions and regression analysis and describes the steps to perform regression analysis in Excel. Additionally, it provides students with broad guidelines to write an effective memorandum. Student Feedback The case was administered to two sections of an upper-level intermediate undergraduate cost accounting class at a major U. S. university. Seventy-seven students responded to an evaluation survey to assess whether they improved their understanding of the concepts illustrated in the case, as well as to whether the case illustrated a â€Å"real world† application in predicting operating costs.As shown in Table 1, students agreed that the case enhanced their understanding of the use of regre ssion analyses in predicting future costs mean of 4. 17, based on a ? ve-point scale , the case encouraged them to think critically about the behavior of operating costs in a â€Å"real world† context mean of 4. 03, based on a ? ve-point scale ; plus, they found the case interesting and recommended it for use in teaching cost estimation via regression analyses mean of 4. 07, based on a ? ve-point scale; see also Table 2 . Similar positive responses are shown in Table 2. For example, Table 2 reports students’ knowledge on the use of regression

The Untold Story essays

The Untold Story essays Womens Studies September 21st The Untold Story: An In-class Critique It is truly mind boggling how one could spend twenty years in a province and have no true concept of the struggle those before her went through so that she can sit in her big, spacious, nicely decorated room with my laptop and write about them. What it must have been like to be a woman at that time. To be considered the property of someone. To work endlessly next to men building a community and receive nothing while the men were paid in alcohol and drank in heated taverns while the women sat at home with no heat and freezing, starving children. Or to put in endless hours of fund raising to rebuild a community destroyed by fire only to have no say on where the money was spent. When Jessie O and Emma Peters led the first march to the House of Assembly in 1891, I wonder if they realized their fight would take thirty-four years and continue into another generation. I realize that men are often stubborn but thirty-four years seems a little extreme. I found it very ironic and interesting that while all this was going on a Queen was ruling Britain and the colonies. A women was trusted enough to rule but not to vote. Hmmm... Try as the first suffragists did the wave of the movement ended when Jessie O moved to Montreal with her husband. It would be nearly a decade before the movement caught the current again. The early 1900s brought about the second wave of the movement. I never thought of how much harder it was for Newfoundland women to rally support since, unlike Britain and America they had to get to the women in outports, of which there were many spread over vast land. In this new era women formed their own club to discuss important issues, since while they could attend the mens meeting, they could not talk. They called it the Reading Room and made use of their time by reading about other parts of the world and their st...