Shareholder Wealth Maximization And Corporate Social...

Examining Globalization From The Viewpoints Of Shareholder Wealth maximization And Corporate Social Responsibility Theories â€Å"Sell a stock rather than try to change the company’s policy.† Introduction Are the goals of globalization, the primary driving force for international economic and financial development, best supported by the paradigms of shareholder wealth maximization or do they match the ideas of corporate social welfare as exemplified by Catholic social teaching? Globalization in the modern day is impacting each and every aspect of today’s society, from poverty to corporate riches. Can the theory of corporate social responsibility solve some of the defects with globalization, or on the contrary, is it possibly illegal? Without globalization, society would not be capable of advancing and bestowing on its inhabitants the luxuries and security that we live with today. Due to its mass importance, is the corporate world held accountable to provide for the less fortunate or do they have a responsibility to their corporation and to nobody else. This essay will address the apparent dichotomy between shareholder wealth maximization using Milton Friedman’s classic defense of it (‘The Social Responsibility of Business is to Increase Its Profits’, by Milton Friedman, The New York Times Magazine, September 13, 1970) and catholic social thought, which argues for a stakeholders view (‘A Decade after Economic Justice for All: Continuing Principles, ChangingShow MoreRelatedMaximizing the Corporate Objective with the Stakeholder Theory1039 Words   |  4 Pagesmain contender to value maximization as the corporate objective is stakeholder theory, which argues that managers should make decisions so as to take account of the interests of all stakeholders in a firm, including not only financial claimants, but also employees, customers, communities, and governmental officials. Because the advocates of stakeholder theory refuse to specify how to make the necessary tradeoffs among these competing interests, they le ave managers with a theory that makes it impossibleRead MoreArgument For And Against Profit And Wealth Maximization1421 Words   |  6 Pages ARGUMENT FOR AND AGAINST PROFIT AND WEALTH MAXIMIZATION GOALS IN LIGHT OF CORPORATE FINANCE Every individual firm in any market segment has well set goals that it aims to achieve. These goals may be set by the owners or shareholders who must collaborate closely with the agents whom they have given the responsibility to manage the firm. The agents are basically the managers who through the agency theory must ensure that the firm is meeting its strategic goals. A firm with noRead MoreThe only legitimate objective of any firm is Maximization of Shareholder Wealth2220 Words   |  9 Pages 1. Introduction â€Å"Corporate finance theory, teaching and the typically recommended practice at least in the US are all built on the premise that the primary goal of a corporation should be the maximization of shareholder value.† (Krishnan, 2009) One often stumbles upon such statements while reading about shareholders value or maximization of shareholders wealth. This is also a typical answer to questions such as â€Å"what is the best and primary objective of a company in a competitive market†Read MoreStakeholder4051 Words   |  17 PagesStakeholders, Shareholders and Wealth Maximization V. Sivarama Krishnan, University of Central Oklahoma ABSTRACT This paper attempts reconciliation between the two somewhat extreme views espoused by the shareholder wealth maximization paradigm and the stakeholder theory. The stakeholder theory challenges the basic premise built into corporate finance theory, teaching and practice. Corporate finance theory, teaching and the typically recommended practice are all built on the premise that theRead MoreStakeholder Theory and Competing Concept1707 Words   |  7 PagesIntroduction Stakeholder theory was given by R. Edward Freeman, which was expressed many ways to represent the stakeholder as an important part of the corporate responsibility. According to Stenberg (1996), this stakeholder theory, is basically not capable to provide better corporate governance. He also stated that, this theory is unable to provide a better view of business performance (Edward Reed, 1983). Currently, the stakeholder theory has been grown up from its origin and seen as the conceptRead MoreTransparency Is Key Aspect of Corporate Governance1331 Words   |  6 Pagescompany reporting. Transparency is key aspect of corporate governance because of implementing corporate governance this will allow stakeholders and shareholders to review and evaluate performance of management and the company this ensures that the board of directors and the executive directors of corporations act in the best interest of shareholders and the corporations. It is implemented like a form of company law it is put in place so shareholders are protected and also so that the company is runRead MoreShareholder Value14482 Words   |  58 PagesThe purpose of the corporation: Shareholder-value maximization? Finance Working Paper N °. 95/2005 Revised version: February 2006 Petra Joerg Institut fà ¼r Finanzmanagement, Università ¤t Bern Claudio Loderer Institut fà ¼r Finanzmanagement, Università ¤t Bern Lukas Roth The Pennsylvania State University Urs Waelchli Institut fà ¼r Finanzmanagement, Università ¤t Bern  © Petra Joerg, Claudio Loderer, Lukas Roth and Urs Waelchli 2006. All rights reserved. Short sections of text, not toRead MoreTheories for Profit Maximization for Corporate Directors Essay650 Words   |  3 PagesCorporate directors have an important job of representing interests of stakeholders ranging from profit maximization in interest of shareholders, to a broader set of stakeholder interests such as creditors, employees and customers. These are governance systems with competing interests because you cannot focus on profit maximization for shareholders whilst keeping in mind stakeholders needs for employment and stability. The answer perhaps is found in â€Å"enlightened shareholder value† approach that providesRead MoreAnalysis Of William Allen s The Dodge Brothers 1896 Words   |  8 Pagesprovide increasing employment at good wages and to only incidentally make money.† (Allen 38) In contrast, the Dodge brothers, (the Founders of the Dodge division of Fiat) who owned roughly ten percent of the equity in Ford’s company, argued that the shareholders owned the enterprise and were entitled to force the directors, in this case Ford, to distribute some of the firm’s accumulated profit. The Justices of the Supreme Court ultimately ruled that Ford must pay the Dodge brothers dividends and not useRead MoreProfit Maximization vs Wealth Maximization5736 Words   |  23 PagesA PROJECT REPORT ON â€Å"PROFIT MAXIMIZATION V/S WEALTH MAXIMIZATION† Submitted to In requirement of partial fulfillment of Master of Business Administration (MBA) Submitted on Submitted by PREFACE As a part of the curriculum of the MBA Program of the _________________, the students are required to undergo project work in addition to their theoretical study so as to enable them to have the knowledge of theoretical aspects taught in the class room with its practical application. As students of management

Cultural Sensitivity On The Part Of Nurses Towards Jewish...

It may seem that there would not need to be much cultural sensitivity on the part of nurses towards Jewish people. After all, Jews have been intricately involved in American culture and history almost from the beginning of America. This melding of the Jewish culture into popular American culture is shown in many ways. For example, many Yiddish words are part of American colloquial English. Shalom is a Hebrew word that is commonly used by Jewish people to mean â€Å"peace†, â€Å"hello†, or â€Å"good-bye† (Bralock Padgham, 2017, p. 513). Shalom may be a common Jewish word, but it has been read, heard, and even used by non-Jews. In fact, a number of Yiddish words have made it into popular and colloquial English usage. These include words such as†¦show more content†¦514). My interviewee, Elyssa, a young Jewish woman of twenty-eight, however believes that this generality is not true of the younger generation of Jews who tend to be more reserved with their demeanor, expressing themselves more with a sense of humor and sarcasm. According to Culture Vision (n.d.) Jewish dogma teaches that â€Å"It is everyone s duty to maintain and preserve his or her own good health (both physical and mental)†. This does not mean that even Orthodox Jews avoid medical assistance. It merely means that their approach may be limited by Jewish beliefs. For example, Elyssa states, â€Å"more religious Jews may want to consult a rabbi with certain medical decisions, especially if more ethically questionable. Also, even Jewish people who strictly observe the Sabbath are able to break it for life saving measures. However, the needed medical treatment is not lifesaving they may well refuse to participate in it on the Jewish Sabbath. For example, a patient in the hospital might prefer to delay a test or even a procedure if it is not literally emergent and likely necessary to preserve life and health permanently† (E. Jankelovitz, person communication, January 20, 2017). Despite this it is important to remember that Jewish people not only want immediate relief during illness but also worry about what theShow MoreRelatedCultural And Religious Considerations During End Of Life Care1686 Words   |  7 Pages Cultural and Religious Considerations During End-of-Life Care Geraldine Barron Denver School of Nursing â€Æ' Abstract There are many cultural and religious beliefs in the world in which many individuals base their end of life care according to those beliefs. As a nurse it is important to be aware of the different varieties of religious and cultural beliefs and be open minded when caring for these individuals. It has been shown that individuals who are dealing with end of life are better able to copeRead MoreTeaching Sustainability For Children : A Transdisciplinarity Inquiry3779 Words   |  16 Pagestranspersonal experiences as a child, as well as an adult noticing the need for an improved curriculum (in which area, be more precise here). The purpose of my creative project is to engage children in holistic, nature-based, learning experiences to become cultural leaders and ecologically mindful members of society. Children are the future, and the time is now to start them on a journey of sustainable learning. Research has shown that when families become more involved with schools, the students in thoseRead MoreAdvancing Effective Communicationcommunication, Cultural Competence, and Patient- and Family-Centered Care Quality Safety Equity53293 Words   |  214 PagesAdvancing Effective Communication, Cultural Competence, and Patient- and Family-Centered Care A Roadmap for Hospitals Quality Safety Equity A Roadmap for Hospitals Project Staff Amy Wilson-Stronks, M.P.P., Project Director, Health Disparities, Division of Quality Measurement and Research, The Joint Commission. Paul Schyve, M.D., Senior Vice President, The Joint Commission Christina L. Cordero, Ph.D., M.P.H., Associate Project Director, Division of Standards and Survey Methods, The JointRead More`` France Virile : Des Tondues A La Liberation, Sexuality, And Sadism8413 Words   |  34 Pagespower, to be bald deprives a woman of the ability to fit into our society, to be a woman in the public sphere. Hair as a symbol of virility for men and attractiveness for women is found in widely separated cultures throughout the ages and in all parts of the world. It is surprising to find such a difference of meaning between women and men’s hair, as no one has yet found a way of sexing human hair: â€Å"There is no way of telling whether a hair comes from a man’s head or a woman’s. It seems a curiousRead MoreHigh School Student Essay20272 Words   |  82 Pageshome; they possess a range of abilities and talents; and issues involving differences between boys and girls are receiving increased attention. In this chapter we examine this diversity as we try to answer the following questions: â™ ¦ â™ ¦ â™ ¦ â™ ¦ â™ ¦ What is cultural diversity, and how does it influence student learning? How are the educational experiences of boys and girls different? How do schools accommodate ability differences in learners? What are learning styles, and how should teachers respond to themRead MoreSSD2 Module 1 Notes31223 Words   |  125 Pagescommunication. You communicate to learn more about others. Much of what other people do and say influences you; you tend to behave in relation to how you see others behaving. You can choose to be like them or unlike them, but much of the time people communicate to find out how others are communicating or what they feel or think. How does it feel to be six-feet tall and female? Are left-handed people different from right-handed people? What is it like to be the only one in a dorm or neighborhood with a differentRead MoreInternational Management67196 Words   |  269 PagesEDITION Published by McGraw-Hill, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY 10020. Copyright  © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Previous editions  © 2009, 2006, and 2003. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies, Inc., including, but no t limited to, in any network or otherRead MoreOrganisational Theory230255 Words   |  922 PagesPearson Education Limited 2007 The rights of Joanne Duberley, Phil Johnson and John McAuley to be identified as authors of this work have been asserted by them in accordance with the Copyright, Designs and Patents Act 1988. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without either the prior written permission of the publisher or a licenceRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 PagesJean H. Quataert 116 5 The Impact of the Two World Wars in a Century of Violence †¢ John H. Morrow Jr. 161 6 Locating the United States in Twentieth-Century World History †¢ Carl J. Guarneri 213 7 The Technopolitics of Cold War: Toward a Transregional Perspective †¢ Gabrielle Hecht and Paul N. Edwards 271 8 A Century of Environmental Transitions †¢ Richard P. Tucker 315 About the Contributors †¢ 343 _ IN TR OD UC TIO N Michael Adas B y any of theRead MoreLogical Reasoning189930 Words   |  760 Pagesby Bradley H. Dowden This book Logical Reasoning by Bradley H. Dowden is licensed under a Creative Commons AttributionNonCommercial-NoDerivs 3.0 Unported License. That is, you are free to share, copy, distribute, store, and transmit all or any part of the work under the following conditions: (1) Attribution You must attribute the work in the manner specified by the author, namely by citing his name, the book title, and the relevant page numbers (but not in any way that suggests that the book

A Reflection on Plan Evaluation Free Essays

Topic: PLAN EVALUATION REFLECTION In this topic plan evaluation, I now understand why we always have visitors from the division, region and even from the central office visiting our school to evaluate and observe how things are being carried out. In my three years of service in the government, there was no school year that there was no evaluation. Seeing them holding some checklists made us tremble while asking us things and observing our classes. We will write a custom essay sample on A Reflection on Plan Evaluation or any similar topic only for you Order Now Being new in the system I wondered and ask myself, is it proper that after evaluation they will have feed backing so that we will be able to know what areas we need to improve and what are their suggestions for the betterment of our school and children. That is one thing that I had observed that after evaluation, results of the observation were not discussed for improvement sake. As I go over with my topic in plan evaluation I was enlightened why they regularly conduct evaluation and why we were not informed about the results of the evaluation. It was then that the results were for the policy makers, program directors and direct program staff consumption only. If given a chance in the future to plan for an evaluation, I would suggest that any corrections or any part of the program that need some improvement, during the onset of evaluation, feed baking should took place right after the evaluation so that the implementers of the program (teachers) will be able to know where they need some polishing that will be congruent with the objectives of the program. During the design of the evaluation process it would be better if local persons and all those who are involved in the implementation of the program will be present during the discussion period so that opinions are expressed and be validated, for everybody has its part to the success of the program. All evaluation plans should identify both participants and stakeholders, and should include the relevant items developed in the evaluation process. In the monitoring aspect, I would go with the combination of performance evaluation and evaluation done on a continuing program because this will measure the impact of the program on the society or on the people. This is done to improve continuously the performance of the program period after period and in the same way this will enable planners identify shortcomings and can devise remedial actions while the plan/program is still in progress. Thorough studies should be done on what evaluation design will be best applicable to a program and I would recommend applying it or testing first the evaluation design on small population prior to the piloting. Through this, monitoring and evaluation will be manageable and any unexpected occurrences in the program will be observed right away and be given solution. Revisions of the program can be done as early as this stage. Lastly, ensure that the evaluation will be as fair, accurate, and effective as possible. The use of specific tools can help in the success of the project like annual reports, quarterly or monthly reports from the monitoring system, and anything else should equally agreed between the organization and the evaluation team. How to cite A Reflection on Plan Evaluation, Essay examples

Validity Consumer Physical Activity Monitor -Myassignmenthelp.Com

Question: Discuss About The Validity Consumer Physical Activity Monitor? Answer: Introduction The suitability of the Time Driven Activity Based Costing has been aimed to be evaluated and examined in this particular study. The essentialities of the study have been looked at from the viewpoint of a graduate consultant who has been readily employed in a management consultancy firm. For the purpose of the study, it has been assumed that the organization named Boral Limited is an important client of the consultancy firm. Boral is one of the top manufacturing firms of the nation. The first segment of the report stresses the business activities that are essentially carried out by the leading manufacturing firm. The next part of the study executes the scrutiny of the Time Driven Activity Based Costing and its essential characteristics. Lastly, the differences between the three different systems of costing namely activity based costing system, traditional systems of costing and Time Driven Activity Based Costing has been discussed. Furthermore, it has been analyzed whether the Time Dr iven Activity Based Costing is suitable for implementation in Boral Limited (Rasouli and Timmermans 2014). An insight into Boral Limited Boral Limited is a leading manufacturing firm and is essentially a multinational company. The company is based out of Australia and has its branches in USA and Asia as well. The entity primarily deals in the construction and manufacturing materials. The financial year of 2017 marked the organization generating sales revenue of 4.39 billon AUD with a number of employees ranging around 16,000 and more than 700 operating sites. There are three operating divisions in Boral, which include Boral Australia, USG Boral and Boral North America. The management of Boral Limited in considering the implementation of the TDABC system in the organization and that is the reason this organization has been chosen for this study. The main products of the organization include concrete, quarry, asphalt. Cement, concrete placing, bricks, roofing, masonry, softwood and hardwood timber. This particular division of the organization deals in and is a major supplier of the products or materials that are required for the purpose of construction that may be residential or commercial in nature along with engineering markets and roads (Hill caes et al., 2016). Time Driven Activity Based Costing system its characteristics The sole purpose of the development of the Time Driven Activity Based Costing system is that there a number of issues associated with the activity based costing system. The existence of these issues has resulted in a cheaper, more convenient and clarified costing system that is the TDABC system. The major benefit provided by this particular system of costing is that it removes the need to conduct a survey or interview the staff of the organization for the apportionment of the costs related to resources to the associated activities prior to the formulation of the cost objects. The cost objects may be orders, customers or products (Weygandt, Kimmel and Kieso 2015). The TDABC system facilitates the essential apportionment of the costs related to the resources to the cost objects. This is fundamentally executed with the help of a framework that is of optimum quality. The major characteristics of the TDABC system are as follows: The TDABC system is utilized in the computation of the cost in regards to the supply of resource capacity. To understand this in a better way, the operation of a particular department of Boral Limited can be considered. The department that handles customers has been taken into account. In carrying out the costing system of such a department, the TDABC system will compute the costs that are related to supervision, resource staff, departmental equipment and technology implemented. The system facilitates the disintegration of the total cost by the capacity of time available from the staff, executing the departmental proceedings in order to reach the cost capacity rate (Weygandt, Kimmel and Kieso 2015). The TDABC system facilitates the optimum utilization of the cost capacity rate in order to convert the resource costs in regards to the particular department by the projection of the demand of the resource capacity that is needed for all cost objects. In regards to the customer-handling department in Boral Limited, the TDABC costing system essentially needs a measurement of time that is required for the order by a particular customer, to be processed. However, it should be noted here the Time Driven Activity Based Costing system has been designed in such a way that it is not required to match each order of the customers. The uniqueness of this particular costing system lies in the fact that it permits the estimated time for each order to vary depending on the demands by the customers. These orders may be manual or automated orders, expedited orders, global orders, orders for fragile products and orders of the new customers not having any existing credit record. Thus, the TDABC system leads to the effective simulation of the processes that are employed for the execution of various works in an organization. The TDABC system also has enough capability to capture the complicated costs in comparison to the activity based costing system. The system can achieve this without the facilitation of the required data estimates and processing or storage capacities (Weygandt, Kimmel and Kieso 2015). Comparison between the traditional system of costing, ABC costing and TDABC The founder of the ABC and TDABC systems of costing has been Robert Kaplan who had developed these systems in the year of 1980. Many experts believe that the traditional system of costing has not been able to divide the overhead related to the costs in an effective manner and has failed to identify the potential band of profitable customers. This is the major reason behind the introduction of the TDABC and ABC systems of costing. It should be noted here that both the ABC and TDABC have the capacity to identify and measure the customer profitability. Thus, both these costing systems lead to the effective development of reliable cost drivers for allocating the costs to the particular activities. A comparative study of the three systems of costing has been drawn below: Traditional System of Costing A huge number of firms are using the traditional system of costing in the recent times for the allocation of manufacturing overheads to the total units that have been produced. The most essential assumption taken in by the users of the traditional costing system is that the volume of production is the major cost driver related to the manufacturing overhead. In this particular system of costing the cost accountants, carry out the allocation of the costs of manufacturing only in the case of the products. The traditional system of costing does take into account, the non-manufacturing expenses that have been incurred while producing the similar product. Moreover, it should be noted here that the conventional systems of costing is no more used by the manufacturing firms. This is due to the fact that the manufacturing firms have been using the latest technology like the computers and automated machines that outdate this particular system of costing. The traditional costing system also igno res the cost drivers that the total cost of production constitutes. Therefore, the utilization of this particular system by the manufacturing firms may lead to a faulty cost management system as this particular system does not consider the non-manufacturing costs (Christopher 2016). ABC system of costing The activity based costing system gives a perfect overview into the cost structure of a particular organization. However, it should be noted here that the companies all over the world use this particular system as a supplement. The activity based costing system facilitates the computation of cost related to the activities that are associated with the production of a particular item by linking them with an activity cost. The major advantage provided by the activity based costing system is that this particular system of costing facilitates the allocation of cost to only those products that are essentially required for production. The system results in the removal or elimination of the irrelevant costs. This particular costing system also facilitates the better extraction and interpretation related to management within the organization and better understanding of the process of costing by the non-consideration of the irrelevant costs. However, the particular disadvantage posed by this technique is that this costing system is expensive in nature and cannot be afforded by small-scale organizations (Balakrishnan, Labro and Soderstrom 2014). TDABC Costing system The TDABC system has been introduced as a further development of the Activity based costing system. The benefits provided by the TDABC system are as follows: The TDABC system has the capacity to work in association with customer relationship management and enterprise resource planning The TDABC system has the capacity to deal with a humongous number of transactions at a high processing speed by the effective utilization of the ERP system The major benefit provided by this particular system of costing is that it removes the need to conduct a survey or interview the staff of the organization for the apportionment of the costs related to resources to the associated activities prior to the formulation of the cost objects This particular system of costing provides an overview into the time capacity of business Lastly, the TDABC system can be utilized without the availability of a suitable ERP system within the organization Appropriateness of the TDABC system to Boral Limited The above analysis that has been carried out effectively indicates that the TDABC system is appropriate for Boral Limited. The major reason behind this recommendation is that this particular system of costing provides a better overview into the efficiency and the capability of the company in terms of predicting the future resource demands. Moreover, this particular firm has been facing high degree of competition from its competitor firms. Thus, it is high time that the organization considers the need to cut down its cost of production, which can only be achieved, with the help of TDABC system. This is because this particular system of costing will enable the organization to reduce the costs of production by identifying the resources that are both relevant and irrelevant in relation to the products or services of the firm. It should also be noted here that the facilities provided by the Time Driven Activity Based Costing System in regards to online services have been commendable. The administration of Boral Limited can consider creating a market online that will efficiently reduce the costs of production and also eliminate the limitations imposed by the physical or geographical boundaries. The TDABC model could facilitate the development of a suitable cost driver in regards to the cost incurred while providing services online. Moreover, the TDABC costing system provides an effective overview into the overhead costs that could be effectively utilized for monitoring and evaluating the different activities that are undertaken in order to carry out the online services of the firm. The TDABC system irrespective of the nature of business conducted by the firm will result in a number of benefits that will ultimately increase the profitability of the firm. Thus, the TDABC system is effective and appropriate fo r Boral Limited as it will provide the organizations with a number of advantages like expand the potential band of customers, minimization of costs and improve the online services by the organization. Conclusion From the discussion in the preceding paragraphs it can be concluded that the TDABC system enhances the complete costing system of a firm by removing the need to conduct a survey or interview the staff of the organization for the apportionment of the costs related to resources to the associated activities prior to the formulation of the cost objects. This particular costing system facilitates the reduction in the total cost of production by increasing the capability of the firm to estimate future resource demands. Thus, it can be evidently concluded that the TDABC system is the most appropriate costing system for Boral Limited. References Balakrishnan, R., Labro, E. and Soderstrom, N.S., 2014. Cost structure and sticky costs. Journal of management accounting research, 26(2), pp.91-116. Christopher, M., 2016. Logistics supply chain management. Pearson UK. Cooper, R., 2017. Target costing and value engineering. Routledge. Haz?r, ., 2015. A review of analytical models, approaches and decision support tools in project monitoring and control. International Journal of Project Management, 33(4), pp.808-815. Hill, R., Below, B. and Bruns, K., Boral Ip Holdings (Australia) Pty Limited and BORAL IP HOLDINGS (AUSTRALIA) Pty Ltd, 2016. Building material. U.S. Patent D755,990. Himmelstein, D.U., Jun, M., Busse, R., Chevreul, K., Geissler, A., Jeurissen, P., Thomson, S., Vinet, M.A. and Woolhandler, S., 2014. A comparison of hospital administrative costs in eight nations: US costs exceed all others by far. Health Affairs, 33(9), pp.1586-1594. Lee, J.M., Kim, Y. and Welk, G.J., 2014. Validity of consumer-based physical activity monitors. Medicine Science in Sports Exercise, 46(9), pp.1840-1848. Plank, P., 2018. Introduction. In Price and Product-Mix Decisions Under Different Cost Systems (pp. 1-5). Springer Gabler, Wiesbaden. Rasouli, S. and Timmermans, H., 2014. Activity-based models of travel demand: promises, progress and prospects. International Journal of Urban Sciences, 18(1), pp.31-60. Weygandt, J.J., Kimmel, P.D. and Kieso, D.E., 2015. Financial Managerial Accounting. John Wiley Sons.