Price adjustment clauses in construction contracts are intended to reduce the financial risk to project owners and contractors if the input costs rise or fall sharply during construction when the contract period is long. In theory, if a contractor knows at the bidding stage that payments for his work will be periodically indexed, he will have less of a need to add a premium to the bid price for possible cost increases during construction. This reduces his risk of losing the contract by adding the premium. Adjustment provision in a contract also lowers the risk of contractors underestimating cost increases, and later experiencing financial difficulties and defaulting on their obligations. A project owner, on the other hand, ideally can benefit from lower bid-prices, less likelihood of contractors going into bankruptcy mid stream of a project, and lower final Contract Price, especially when costs are declining. These rationales, which were postulated more than 30 years ago, have led to theprice adjustment clause becoming a standard feature in most construction contracts worldwide. It is also a standard clause (Clause 13.8 — Adjustments for Changes in Cost) in the General Conditions of Contract prepared by the International Federation of Consulting Engineers (FIDIC) for Multilateral Development Banks (1). The standard bidding documents of eight donors are based on this contract form since 2005, when its first version was released.
This research is to find out how the role and influence of marketing stimuli (advertising, pricing, and sales promotion) as well as the role of family and brand awareness, brand associations, perceived quality of Pepsodent toothpaste. Thebenefitsof this research study is expec- ted to be considered in developing a marketing mix that ultimately led to the formation of perceived qualitys. Second, updating the theory of consumer behavior and marketing theory. This research method is accomplished by using a descriptive study using survey. The popula- tion in this study is consumer of Pepsodent toothpaste. Samples done by accidental sampling. For data collection questionnaire used closed type. Operationalization variable using descriptive and quantitative analysis variable (GSCA and SEM). The results showed the influence of very low ranging from 0.00 to 0.19 for the relationship of advertising and brand awareness variables, thepriceand brand association variables, promotion and brand awareness variables, relationship between fami- ly variable and brand awareness and brand association. While family variable and perceived quality variable had reverse effect. The low but definite effect ranged from 0.20 to 0.39 for the advertising variable, brand associations variable, and perceived quality as well as variable promotion, promotional variable to variable brand associations and perceived quality variables. The effect was ranged from 0.40 to 0.60 for brand awareness and perceived quality variables. Recommenda- tions to PT Unilever should deliver more competitive promotion thus proving that good quality is always supported by good and great pro- motion, low price version. Pepsodent should promote impressed with quality, still showing the previous experience ofthe people who have benefited from Pepsodent, while providing marketing and advertising top of mind to their customers so that they lose sight ofthe Pepsodent, still suggested best quality can be compared with its competitors, the evidence suggests that the quality is always the best
Taylor & Francis m akes ever y effor t t o ensur e t he accuracy of all t he infor m at ion ( t he “ Cont ent ” ) cont ained in t he publicat ions on our plat for m . How ever, Taylor & Francis, our agent s, and our licensor s m ake no r epr esent at ions or war rant ies w hat soever as t o t he accuracy, com plet eness, or suit abilit y for any pur pose of t he Cont ent . Any opinions and view s expr essed in t his publicat ion ar e t he opinions and view s of t he aut hor s, and ar e not t he view s of or endor sed by Taylor & Francis. The accuracy of t he Cont ent should not be r elied upon and should be independent ly ver ified w it h pr im ar y sour ces of infor m at ion. Taylor and Francis shall not be liable for any losses, act ions, claim s, pr oceedings, dem ands, cost s, expenses, dam ages, and ot her liabilit ies w hat soever or how soever caused ar ising dir ect ly or indir ect ly in connect ion w it h, in r elat ion t o or ar ising out of t he use of t he Cont ent .
relies on the VV II. Table 8 gives an unweighted average of 14 firms, among which are the (formerly) eight VUs. As explained in Section 2, the precise charges depend on network-connection level, maximum load and load duration. The access charges have been calculated exclusive of metering costs. Because the Eurostat-cate- gorization appears to have gained wide acceptance, this categorization has been used to calculate access charges for different users. The table compares the access charges with the end-user prices, which for reasons of consistency are taken from eurostat. The Eurostat end- user prices relate closely to the national average of incumbent prices used in Figs. 1 and 2; the end-user prices of entrants (nationwide suppliers) would, at least for domestic users, be significantly lower. Column 8 ofthe table presents the ratio of network access charges to the end-user price; in this calculation the end-user price has been cleaned for the electricity tax andthe con- cession fee. Similar ratios have been calculated for England and Wales for domestic and commercial users. A calculation for industrial users will be left for further research, because the available data are not sufficiently reliable to make such a comparison. The figures are without VAT.
33. Refer to Value Pro. In the upcoming year, Value Pro estimates that it will produce and sell 4,000 units. The variable costs per unit andthe total fixed costs are expected to be the same as in the current year. However, it anticipates a sales priceof $16 per unit. What is Value Pro's projected margin of safety for the coming year?
Observed impacts and future risks posed by global warming are more serious than believed even a few years ago. Further knowledge on thecostsandbenefits associated with lower temperature scenarios, the timing of peak emissions, the gap between science and ambition, and how to close this gap, are critical to taking needed action in a cost-effective and responsible manner that does justice to future generations and vulnerable populations.
criterion that the bene ﬁ ts derived from information should exceed thecostsof providing it, along with two qualifying statements: (1) the evaluation of bene ﬁ ts andcosts is essentially a judgmental process; and (2) costsand bene ﬁ ts may be borne by different groups. In reaching its judgment, the IASB considers thecosts incurred by preparers of ﬁ nancial statements and their comparative advan- tage in developing information relative to thecosts users would incur to develop substitutes for missing information; thecosts incurred by users of ﬁ nancial statements when information is not available; the bene ﬁ t of better decision-making as a result of improved ﬁ nancial reporting. The IASB concluded that the revised IFRS 3 confers bene ﬁ ts by ‘ converging to common high quality, understand- able and enforceable accounting standards for business combinations in IFRSs and US GAAP. This improves the comparability of ﬁ nancial infor- mation around the world and it also simpli ﬁ es and reduces thecostsof accounting for entities that issue ﬁ nancial statements in accordance with both IFRSs and US GAAP ’ (para. BC436). As I read this statement, the IASB identi ﬁ es two bene ﬁ ts: (1) a converged standard that increases comparability among entities that apply IFRS and US GAAP; (2) a standard that is high quality, understandable and enforceable. I interpret the second bene ﬁ t as encompassing both quality ofthe standard, pre- sumably captured by its ability to produce decision- useful information when properly implemented, and implementation, presumably captured by understandability and enforceability.
Given this background, it is appropriate to investigate the potential impact of changing input and output prices on a typical UK dairy system. Emphasis in this paper is given to changes in the milk to milk-quota-leasing price ratio, the cost of concentrates andthe cost of nitrogen fertiliser. Assuming pro®tability to be the major concern of producers, the analysis uses a farm-level linear programming (LP) model to establish optimum adjustment strategies under the assumption that producers are `technically ecient', i.e. producers are operating on the technically feasible dairy production frontier for a given combination of inputs (e.g. Wilson et al., 1998). Following Rams- den et al. (1996), thecostsof non-adaptation are also calculated to quantify the incentive that exists to adapt to changes in relative prices. The paper is arranged as follows. Section 2 discusses some pre- vious LP models of livestock systems and draws out the relationships that are important to capture in modelling farmer adaptation strategies; Section 3 gives an overview ofthe model structure. In Section 4, a comparison of model results with actual farm data for England and Wales is given for validation purposes and model results for dif- ferent input±output price combinations and adap- tation strategies are presented. Section 5 concludes the paper and considers the implications ofthe results for the eective management of dairy farms within the UK.
Hawkeye Cleaners has been considering the purchase of an industrial dry-cleaning machine. The existing machine is operable for three more years and will have a zero disposal price. If the machine is disposed now, it may be sold for $120,000. The new machine will cost $400,000 and an additional cash investment in working capital of $120,000 will be required. The new machine will reduce the average amount of time required to wash clothing and will decrease labor costs. The investment is expected to net $100,000 in additional cash inflows during the year of acquisition and $300,000 each additional year of use. The new machine has a three-year life, and zero disposal value. These cash flows will generally occur throughout the year and are recognized at the end of each year. Income taxes are not considered in this problem. The working capital investment will not be recovered at the end ofthe asset's life.
An experimental approach could also ex-tend the obtained findings. As mentioned earlier in this article, part ofthe rationale ofthe present investigation was to shed some insight into the link between relational benefitsandcosts on the one hand and motivation to enter and/or maintain a relation-ship on the other. This link can be further explored through laboratory experimenta- tion. Romantically uninvolved subjects could be brought into the laboratory, presented with different patterns ofbenefitsandcosts, and asked how these patterns might affect their decision to enter a rela tionship; alternatively, romantically in- volved subjects could be presented with varying patterns ofbenefitsandcostsand asked to report the likelihood of maintain ing their relationship. Finally, both longitudinal and experimental approaches can be enriched through the use of interviewing techniques. In the pre-sent investigation, subjects listed the bene-fits andcostsof romantic involvement in a laboratory setting. Although this procedure certainly afforded increased levels of control over extraneous variables, it may also have led subjects to produce less well thought-out or "top-of-the-head" (Taylor & Fiske, 1978) responses. Our procedure may ha ve failed to uncover less common costs or benefits— those that would result from pro-longed introspection on the part of subjects. Thus, future research will do well to consider using interviewing techniques to elicit more detailed and in-depth reports from subjects.
One measurement ofthe benefit of an investment is the value ofthe information provided. The value of information is the difference between the net benefits information is the difference between the net benefits (benefits adjusted for costs) of decisions made using information andthe net benefitsof decisions made
First, financial analyses to date have not demonstrated an overwhelming economic gain through the adoption of BMPs. Most scientific experiments examine how new practices affect farm productivity, with only a few enterprise budgets suggesting the innovations are profit- neutral rather than highly profitable. A recent experiment in Ecuador showed that the internal rate of return of a low water exchange system just equaled that ofthe higher exchange methods (Stanley, 1999). This is because although reduced water exchange decreases diesel-pumping ex- penses, algae growth and lower oxygen levels may compromise pond productivity resulting in smaller (lower-priced) animals and disease risk. And farmers often tend to overestimate these short-run pond productivity losses of reduced ex- change. Returning to Fig. 2, the intersection ofthe reduced exchange costsandbenefitsof lines 1 and 2 at 10% incorporates such an overvalua- tion. If farmers knew the true marginal cost curve of reduced exchange (line 1 % ), a 6% water exchange rate could be both socially and pri- vately optimal.
The instrument also can be invalid if incarceration itself affects child well-being. If incarceration has negative effects on the home communities of prisoners and therefore on child outcomes, this would lead to bias in the instrumental variables estimate in the direction of stronger negative effects of never-married motherhood. However, our instrumental variables estimates indicate less adverse effects of never- married motherhood than do the OLS estimates, so eliminating this type of bias would only strengthen our conclusions. Suppose, conversely, that incarceration has a positive effect on the home communities of prisoners, perhaps by removing crim- inals from those communities who, for example, draw teenagers into crime and hence out of school. In this case, we might find that the instrumental variables estimates point to weaker adverse effects of never-married motherhood, or even positive ef- fects, compared to the OLS estimates (and compared to the true effect). Given that we find such evidence, our results could be explained by a direct positive effect of incarceration on child outcomes. This alternative explanation of some of our results is difficult to disentangle from the effects of incarceration via marriage, although we present some results that attempt to do so by including contemporaneous incarcer- ation rates as controls and instrumenting with the ten-year lagged incarceration rates that may better measure marriage market conditions.
The duties of internal auditors are generally determined by the organisation that has set up the internal audit department and employs the internal auditors. Internal auditors normally have a general responsibility to perform their work and their reviews of systems with the possibility of fraud and error in mind.