Fundamentals of Research Essay - 1596 Words

It has always been human nature to seek answers, find solutions to problems, observe, and bring awareness of discoveries. This process of inquiry has become more sophisticated and daunting throughout time. Nevertheless, curiosity and the need to progress remains the same. Many regard research as gathering information and using facts to support findings (Leedy Ormrod, 2010, pg. 1-2). Nevertheless, Leedy and Ormrod (2010), define research as a systematic process of collecting, analyzing, and interpreting information (data) in order to increase our understanding of a phenomenon about which we are interested or concerned (Leedy Ormond, 2010, pg. 2). Nunans definition (as cited in Mustafa, 2011), describes research as having a†¦show more content†¦Beyer (1985) describes critical thinking as evaluating information or arguments in terms of their accuracy and worth (as cited in Leedy Ormrod, 2010, p. 31). For example, music teachers face the challenge of managing large cla sses with a variety of learning and behavioral needs. Music teachers do not have the proper training or resources to support students with disabilities and depend on other curriculum to plan according to the various learning needs in the class. Another challenge is optimizing time to plan appropriate music activities for various grade levels, and musical events in a tight schedule. The research will be based on critical thinking skills that will focus on the goal, thus finding alternative methods to improve and adapt the music curriculum (Leedy Orrod, 2010, pg. 32). Nevertheless, to attain the goal, the researcher needs to have and design a plan. The origin of the subproblems lead to possible hypotheses. Using class size as an example, administrators have the freedom to create an instructional schedule in order to support the instructional needs of the school. Based on the state assessment, schools receive a grade, thus placing unnecessary stress on the students, teachers and administrators. As a result, schedules are designed around the core subjects giving language arts and math teachers’ instructional support and commonShow MoreRelatedFundamentals of Research Methodology1135 Words   |  5 PagesFundamentals of Research Methodology Monique Vann PSYCH 540 March 24, 2013 Jeanne Henry, Ph.D. Fundamentals of Research Methodology This paper will explore the fundamentals of research methodology in the Psychology field and discuss the importance of psychology. The answers to these questions are the basis for the theories that led to research. Research is the groundwork performed by Psychologists in order to answer questions about behavior and the mind. The outcome of the research willRead MoreFundamentals of Research Methodology1216 Words   |  5 PagesFundamentals of Research Methodology Paper Psychology is a discipline which seeks to study the thoughts and actions of men in a scientific way. Science is a marvelous development in the history of human thought. The American Heritage Dictionary defines psychology as the science dealing with the mind, mental and emotional processes, and the science of human behavior. It defines science as systemized knowledge derived from observations and study. Scientific study is a way of understandingRead MoreEvaluation Of A Research On The Fundamentals Of Good Research2113 Words   |  9 PagesResearch Paper At some point during their college careers, most students will have to face the challenge of learning how to do good research. As those who have done research before know, it is no easy task. But the amount of research note taking process should not intimidate students. Even those who research well do so only after many attempts and by practice. Many students come to college unprepared to know how to research simply because, they have not had the opportunity to do so correctly duringRead MoreAnimal Experimentation Is Fundamental For Medical Advancement And Cancer Research909 Words   |  4 Pagesnecessary for medical research. Where this agreement usually ends, however, is on the question of morality. Whereas some are convinced that it’s unethical and scientifically unnecessary, others maintain that it’s needed for medical progress. My stance on the subject is animal experimentation is fundamental for medical advancement and cancer research. An ample amount of human deaths are being avoided every single day due to the studies found through animal experimentation. 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Research purpose This research was aim to discover the beliefs and actions of the trader in the foreign exchange (Forex) market, then adding to our knowledge about the microstructure of the Forex as well as trader’s view on exchange rate determination. Hence, it pointed out the divergence between economists’ and trader’s view. 1.2. Research method Authors used survey methodology with sample on UK-based foreign exchange dealers to collect analysis data. Specifically, 110Read MoreHeading : Fundamental Analysis And Analysis Essay772 Words   |  4 PagesHeading: Fundamental Analysis URL: http://www.avatrade.com/resources/fundamental-analysis Content Additions/Changes †¢ Add a â€Å"Softer† introduction; include statement that addresses AvaTrade, along with referring to the nature of the following â€Å"Guide†. †¢ Add {Fundamental Analysis Defined}, use â€Å"When doing fundamental analysis, a trader studies the overall state of the economy†¦Ã¢â‚¬  paragraph as a lead-in. †¢ Change â€Å"Why do Fundamental Analysis† to â€Å"Why conduct Fundamental Analysis† †¢ â€Å"Some of the world’sRead MoreSources Of Knowledge : Understanding Students And Their Behaviors And Achievements796 Words   |  4 Pagesauthority, logic, or research. Personal experience, intuition, traditions, and logic are valuable sources of knowledge, but many times cannot show enough evidence to support the theory. These sources of knowledge may not be valid or reliable for various reasons. Expert authorities on subjects are another valuable source of knowledge, but these experts can lead one to believe what they want you to believe, not necessarily the facts. The true source of knowledge is research – where studies involveRead MoreThe Expectation For Duration Of The Rhyme1484 Words   |  6 Pagesseparated 3.2 Fundamental frequency The expectation for the fundamental frequency was that this would be lower in the phrase-final position than in the phrase-medial position, due to declination. This was indeed the outcome of the tests. However, as the declination of fundamental frequency is a wide studied phenomenon, it was expected that the difference between fundamental frequency in phrase-final and phrase-medial position would be big. This was not the case. Graph 3: Mean fundamental frequency

The Influence of Pop Culture on our Teenagers - 1419 Words

At a young age, the minds of teenagers are easily influenced by pop culture. They are easily misguided by the portrayals in pop culture as well as the media. Both pup culture and media use this to their advantage to manipulate their young minds. Teenagers are notorious for mimicking violent activities as shown in video games. This violence transmits from videogames to the top story on the local news. Equally important, alcohol portrayals in pop culture are generally positive as they direct teenagers to participate in drinking. As teenagers being a big portion size of their consumers, they try to create an environment in advertisements that give them the notion that drinking is fun. Even though that is not always the case, we cannot forget how it affects the developing mind of the young person. In addition, Sex in the media that is aimed towards teens encourages promiscuity. As teenagers are going through a confusing time in their life, they are misled to believe that promiscuity is t he best way to express their feelings. This also leads to a breakdown of their moral decisions and behaviours. The media manipulates the minds of young people and it has a negative impact on their behaviours by resenting these immoral actions in society. Body Paragraph 1 Media promotes violence as if it is the right way to handle situations leading teenagers to commit such hateful acts. The usage of video games has become overwhelming popular among young people. The exposure to violence in theShow MoreRelatedPop Cultures Influence on Teenagers Essay1403 Words   |  6 PagesPop culture, a phenomenon, that has taken root all across the nation. 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It has helped shape the pop culture into what it is today. What is popular culture? The ideas, activities or products, which are popular among the general mass. In today’s pop culture, one subject that is at the top of the list is hip-hop/rap. Hip-Hop music highlights verses consisting of slang and catchy phrases, which some

Western Education Romans Free Essays

ED 6000 Philosophical Foundations in Education Beginning Questions ! ? ! ? ! ? ! ? ! ? 2-3 sentence responses foundation of your philosophy paper reflects your current stance/belief 30 minutes keep a copy for your final personal philosophy paper Scriptural Focus Deut. 6:1-9 Now this is the commandment, the statutes and the judgments which the LORD your God has commanded me to teach you, that you might do them in the land where you are going over to possess it, so that you and your son and your grandson might fear the LORD your God, to keep all His statutes and His commandments which I command you, all the days of your life, and that your days may be prolonged. Scriptural Focus Deut. We will write a custom essay sample on Western Education Romans or any similar topic only for you Order Now 6:1-9 Israel, you should listen and be careful to do it, that it may be well with you and that you may multiply greatly, just as the LORD, the God of your fathers, has promised you, in a land flowing with milk and honey. Hear, O Israel! The LORD is our God, the LORD is one! Scriptural Focus Deut. 6:1-9 You shall love the LORD your God with all your heart and with all your soul and with all your might. These words, which I am commanding you today, shall be on your heart. You shall teach them diligently to your sons and shall talk of them when you sit in your house and when you walk by the way and when you lie down and when you rise up. Scriptural Focus Deut. 6:1-9 You shall bind them as a sign on your hand and they shall be as frontals on your forehead. You shall write them on the doorposts of your house and on your gates. A HISTORY OF WESTERN EDUCATION ! ? Big Ideas: ! ? ! ? ! ? What are the enduring principles that have stood the test of time? To what extent are the principles being applied in today s classrooms? List the big ideas that you have experienced in today s classrooms and or those that should, from your perspective, be a part of current educational practice. A HISTORY OF WESTERN EDUCATION ! ? Hebrews ! ? ! ? longest recorded western history teaching of religion and moral training A HISTORY OF WESTERN EDUCATION ! ? Greeks ! ? ! ? ! ? ! ? ! ? ! ? city-state civilization based on slavery achieve elegant leisure ignity of the citizen letters, music, gymnastics conscripted military service A HISTORY OF WESTERN EDUCATION Romans ! ? ! ? ! ? patricians, plebeians, freed men and slaves piety, courage, honesty, dignity, sobriety A HISTORY OF WESTERN EDUCATION ! ? Christian ! ? ! ? ! ? change of heart attain peace and growth in body, mind, and spirit underground schools ! ? A HISTORY OF WESTERN EDUCA TION Renaissance (New Birth) ! ? ! ? Seven Liberal arts ! ? trivium: grammar, rhetoric, and dialectic or logic ! ? quadrivium: arithmetic, geometry, astronomy, and music Renaissance Man da Vinci ! ? oastfulness, individualism and a resentment toward authority A HISTORY OF WESTERN EDUCATION Reformation (1500-1750) ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? ! ? educated class advocated reform Germany-moral indignation England-remove wealth from the church Geneva-strictly theologicals England became largely Protestant back to the basics grammar/spelling Inquisition court of heresy Heliocentrism (Copernicus) A HISTORY OF WESTERN EDUCATION ! ? Jan Amos Comenius (1592-1627) ! ? developmental stages ! ? infant, child, youth, adult ! ? Orbis Pictus 1653-54 – the first picture book for school children A HISTORY OF WESTERN EDUCATION ! ? The purpose of education is that which every gentleman desires for his sons, virtue, wisdom, breeding and learning. I place virtue as the first and most necessary. I put learning last, especially if I tell you I think it the least part. Some Thoughts Concerning Education, p. 147. John Locke (1632-1704) A HISTORY OF WESTERN EDUCATION John Locke (1632-1704) ! ? ! ? Tabula Rasa ! ? There would be no problem, †¦ if the human intellect were even, and like a fair sheet of paper with no writing on it. A HISTORY OF WESTERN EDUCATION United States Old Deluder Satan Act (Massachusetts 1647) ne chief project of the old deluder, Satan, to keep men from a knowledge of the Scriptures, as in former times by keeping them in an unknown tongue, so in these latter times by persuading from the use of tongues†¦ A HISTORY OF WESTERN EDUCATION †¦. it is therefore ordered, that every township in this jurisdiction, after the Lord hath increased their number t o fifty thousand, shall then forthwith appoint one within their town to teach all such children as shall resort to him, to write and read, whose wages shall be paid either by the parents or masters of such children, or by the inhabitants in general. A HISTORY OF WESTERN EDUCATION ! ? Enlightenment Revolution (1750-1830 ! ? Jean-Jacques Rousseau (1712-78) ! ? Romanticism ! ? Emile ! ? On Education ! ? The Social Contract A HISTORY OF WESTERN EDUCATION ! ? Friedrich Froebel (1782-1852) ! ? ! ? The child will come to understand the world through creative play facilitated by the use of geometric objects (labeled by Froebel as gifts ) in which pure form is dominant. 1840 Pedagogics of the Kindergarten A HISTORY OF WESTERN EDUCATION ! ? Maria Montessori (1870-1952) ! ? 1896 University of Rome s first woman physician graduate ! 1912 Montessori Method: Scientific Pedagogy ! ? If one fails to learn, there is a natural punishment that takes place as a loss of the consciousness of our own power and greatness, which constitute the quality of manhood. A HISTORY OF WESTERN EDUCATION ! ? Maria Montessori (1870-1952) ! ? ! ? ! ? The classroom must be a prepared environment The classroom must always contain stimulating apparatus, objects, toys, and literature in order to capture the child s inner drives to be active. sensitive periods A HISTORY OF WESTERN EDUCATION ! ? John Dewey (1859-1952) ! ? ! ? ! ? ? psychologist, philosopher, educator, social critic and political activist Progressivism moral relativism applied evolutionary theory to ! ? biology ! ? geology ! ? anthropology A HISTORY OF WESTERN EDUCATION ! ? John Dewey (1859-1952) ! ? Morality is learned within a social context by observing appropriate rules, which emerge from shared experience. ! ? Values are defined through use of the scientific method as one selects a choice of action and how it will effect self, others, the community, and the environment. A HISTORY OF WESTERN EDUCATION Catholic Church (1929) ! ? Every method of education founded, wholly or in part, on the denial or forgetfulness of original sin and grace, and relying on the sole powers of human nature, is unsound†¦ A HISTORY OF WESTERN EDUCATION ! ? †¦Such, generally speaking, are those modern systems bearing various names which appeal to a pretended self-government and unrestrained freedom on the part of the child, and which diminish or even suppress the teacher s authority and action, attributing to the child an exclusive primacy of initiative, and an activity independent of any higher law, natural or divine, in the work of his education. Catholic Church (1929) A HISTORY OF WESTERN EDUCATION ! ? Scientific or Logical Positivism (1950-1967) ! ? ! ? ! ? purpose of education national development stand against the threat of communism ! ? U. S. Department of Education ! ? ! ? ! ? President Jackson signed legislation that created the first Department of Education in1867 (non-cabinet level) that lasted less than a year President Charter signed Public Law 96-88 The Department of Education Organization Act in 1979 Reagan established it as a cabinet-level agency in 1981 A HISTORY OF WESTERN EDUCATION ! ? Burrhus Frederic Skinner (1904-1990) ? ! ? ! ? operant behavior teaching machines Beyond Freedom and Dignity A HISTORY OF WESTERN EDUCATION ! ? Multiculturalism Private Schools (1980-1990) ! ? Mortimer Adler (1982) ! ? ! ? ! ? The Paideia Proposal: An Educational Manifesto liberal, non-specialized education without electives or vocational classes three purposes ! ? ! ? ! ? use leisure time well earn their living ethically teac h people to be responsible citizens in a democracy ! ? A Nation at Risk (1983) ! ? ! ? ! ? National Commission of Excellence in Education The Imperative For Educational Reform If an unfriendly foreign power had attempted to impose on America the mediocre educational performance that exists today, we might well have viewed it as an act of war. As it stands, we have allowed this to happen to ourselves†¦ A HISTORY OF WESTERN EDUCATION ! ? †¦We have even squandered the gains in student achievement made in the wake of the Sputnik challenge. Moreover, we have dismantled essential support systems which helped make those gains possible. We have, in effect, been committing an act of unthinking, unilateral educational disarmament. A Nation at Risk (1983) ! ? A Nation at Risk (1983) ? ! ? ! ? ! ? strengthen graduation requirements five new basics: English, mathematics, science, social studies, and computer science adopt higher and measurable standards for academic performance significantly increase time students spend engaged in learning Strengthen the teaching profession through higher standards for preparation and professional growth ! ? A HISTORY OF WEST ERN EDUCATION ! ? Standards (1998-present) ! ? ! ? ! ? ! ? Academic Content Standards for Students No Child Left Behind Academic Performance Indicator (API) scores National Board for Professional Teaching Standards How to cite Western Education Romans, Papers

Case Study about Financial Planning Big Red Cycle Company

Question: Discuss about the Financial Planning for Big Red Cycle Company. Answer: Introduction Big Red Cycle Company is currently working with the objective to increase its sales revenue, which in turn necessitates the importance of financial budgeting by a large extent. However, the prepared budget is likely to have certain flaws, with estimated sales of $4,000,000 in addition to a net profit of $1,000,000 in the next quarter. According to the budget produced, the sales team also re-negotiated the commission rate at 2.5% on the sales and 5% on the expenses. Correspondingly, this paper intends to examine the budget from a critical perspective to identify whether the budget gives achievable, accurate, understandable and fair objectives for the future performances of the organization, in order to meet estimated sales and net profit goals. It is therefore divided into three tasks, wherein Task 1 elaborates on the flaws and the rectifications required in making the budget more realistic, Task 2 provides a precise contingency plan based on the scenario and Task 3 denotes the traini ng plan to guide Bill Goodale to take up the responsibilities of keeping a track of the expenses and petty cash transactions of the organization. After the review of the budget, it was clearly observed that the accountant department of the company lacked focus on collecting the previous year data. The accountant department has provided with an unrealistic budget, which lacks accurate estimation of sales and expenses for the company, having no resemblance with its previous five year financial statements. For instance, the budget estimated to have equal sales in the first, third and the fourth quarters, which is unrealistic as the company sales depends on factors such as sales of bicycles according to the seasons. The sales may differ in each quarter. This is because the sales of bicycles may change with the ups and downs in the seasonal demand of customers. The sales of the bicycles may rise during the summer season, as compared to the rainy season, when the company may not be able to sale the estimated amount. Hence, the accountant department also miscalculated the sales. The accountant department of the company also did not consider taking any data from the previous few years financial statement, which made the budget faulty and inappropriate to respond well to the seasonal or quarterly fluctuations of customer demand. However, after reviewing the budget it was observed that the objectives are not adequately achievable, as a result of which, preparation of a new budget will needed. An error could also be located in the budget presented by the accountant department that adds to its lack of reliability (Penner, 2001). Accordingly, necessary steps should be performed in order to provide the correct estimation, so that objectives can be determined in an achievable and realistic manner, which would influence the overall net profit of the company. The new master budget should be prepared by studying the previous years financial statements of the company, which can then be used to review and adjust the funding to process and submit to the work flow. The new budget should be more accurate as compared to the previous budget prepared by the accountant department, wherein the negative variances should also be removed. All financial accounts should be taken into consideration to prepare the new budget, including sales, production, direct labor budget as well as cash budget. AGENDA Meeting Title Review of Financial Budget Date DD.MM.YYYY Attendees Accounting and Sales Department, Chairman, CFO Agenda Items Details of Agenda Items Recommendations on the Course of Action Planning Proper planning is to be done to meet the requirements of the budget including materials needed, labor force requirement and seasonal fluctuations. All managers from the finance, sales, and production departments should communicate clearly regarding concerns and goals to be aligned with the budget to avoid any future miscommunication. Training Training of accountants will be important to discuss in the agenda, so that any misstatement of the figures can be prevented in future budgeting practices. Proper training should be given to the accountants on-the-job. The company, in this regard, can employ individuals who have past experiences in accounting to train the present team for better efficiency. Use of historical information It was identified that the budget prepared by the accountant department was faulty, which can hamper the synchronization between the strategic intents and practices of the company. To avoid such mistakes in future, the company should use the historical data of at least 2 to 5 years old, which would give the accountant department a more accurate presentation of its future growth prospects and budgets. Identification of risks It is expected that the company will be facing sales decrease by 20% below the targeted sales in the next fiscal year due to present economic climate of the country (Cambridge University Press, 2016). The risk of having low sales will have a negative effect on the companys sales and profitability. The company can use risk minimizing strategies to avoid sales reduction and achieve the target. In this regard, the use of the historical data can help the managers to identify the current trends and changes occurring in the consumer market and take decisions accordingly. Use of active sales forecasting will help the company to estimate its sales, as it is highly measurable. Furthermore, managing risks on the basis of historical insights will help the company to be more flexible and accurate in its strategic measures. The active sales forecast will make the company able to keep a track and analyze changes that are taking place within the company. This will result in providing the managers w ith more accurate and dependable estimations regarding the company performances in the long run (Kuo, Wu Wang, 2002). Contingency planning will also help the company to act quickly and respond to the changing economic climates, which will reduce the risk of losses (Little, 2009). Contingency Plan Company Name: Big Red Bicycle Pty Ltd Person developing the plan: Name: Position: Risk identified: 20% possible decrease in the estimated sales and 10% possible decrease in the estimated profits for the year 2015-16 Details of strategies/activities to minimize risk of falling sales revenue By when By whom Intelligent Sales forecasting will help the company to forecast the sales on the basis of information generated by using historical data This strategy is used when the companys sales is estimated to decrease by the end of a financial year The intelligent sales forecast will be performed by the managers to reduce the risk of falling sales Understanding competitive advantage The company should focus on the competitive advantages that it has against the competitors, which will maximize its sales by attracting greater revenues from the customers The departments related to the budget needs to have a complete list about the competitors pricing strategies that will influence the sales in the company Implementation of plan The company should implement the plan from the very beginning of the sales process The sales department will be responsible for managing the sales revenue of the company Bill Goodale can be appointed as the personnel responsible for tracking all the expenses and petty cash throughout the next financial year. A good financial management team would support him and the company in tracking the resources utilized, for the accountant department to make the best use of the funding. Bill and his team will look after all the finance related expense in the budget of the company. Bills role will be to prepare the budget, with due significance to the flaws identified within, as it will support the company to evaluate the overall plan regarding the costs to be incurred in a given financial year. The information provided by him will further draw implications for future planning, for more lucrative operations leading to high profits by reducing the risks of incurring losses (National Treasury Republic of South Africa, 2000). Training Sheet Concepts Relevant Information Record keeping requirements for ATO While keeping the records, Bill should note the information disclosed in the bills of transactions, including the name of the payer, supplier or the receiver of the payment, the licensed business number held by the other entity receiving or paying the bill, the cost of expense of purchase incurred, the classification of goods purchased and expenses incurred along with the date of transaction and its documentation. It will also be mandatory to ensure that the records are true and original in order to ensure adequate accuracy and legitimacy of the process (ATO, 2016). GST In the company, GST is charged along with the cost of the goods and therefore, Bill will need to segregate between the actual costs of the product from the GST charged. This estimation can help the company forecast if a return can be filed for GST, if the GST turnover is above or equal to $75,000. In such case, the company will need to register for the exemption, along with the details of taxable sales, tax invoices, make claims for GST credits, prepare a different accounting record for GST transactions and lodge for annual refunds based on the expenditure (ATO, 2015). Cash flow Cash flow includes inflow and the outflow of the cash in the company. Income includes revenue, GST collected, general inflow of cash from rebates, miscellaneous, income from previous year. The cash inflow also includes interest, loan repayments. Capital income includes assets disposal such as land, plant machinery, transfers from other accounts and capital inflow. Personal income, such as tax deductible and non-tax deductible are included. Expenses includes general administration expenses, accounting fees, legal fees, bank charges, office supplies, dues subscription, telephone bills, postage printing, repairs maintenance, payroll tax, advertising, employment expenses, superannuation, self amenities, wages salaries, occupancy costs, electricity bill, insurance, rates, rent, water bills, waste removal, input tax credits, unallocated casual labor, unallocated freight, fuel lubricants, sundry, plant vehicles, structures and overheads. Financial expenditure includes tax-deductible fees, non-taxable deductible fees and principal. Capital expenditure s includes land, plant equipments, transfer capital outflow and personal expenditure. Profit and loss statement The profit and loss statement of the company can prove highly beneficial to gain an insight of the current financial transactions and plan the budget accordingly. Divided into separate heads to maintain transparency and adequacy, the Sales Marketing dimension of accounts include advertising, direct expenses and other expenses which gives the total sales and marketing expenses. The research and development head includes technology licenses, patents and other specified expenses. General and administrative expenses includes wages salaries, outside services, meals entertainment, rent, telephone, utilities, depreciation, insurance and other specified expenses, which gives the company a total general and administrative expenses. By calculating sales marketing and general administrative expenses total operating cost of the company can be calculated. It also includes income tax, payroll tax, real estate taxes and other taxes, which can be used to calculate the net profit of the company at the end of the financial year. Balance sheet The balance sheet of the company includes assets, liabilities and capital. The current assets include cash, accounts receivable, reserve for bad debt merchandise expenses and notes receivable. Fixed assets, similarly, include vehicles and equipments and other assets include goodwill. These three types of assets make the total assets that the company owns. Subsequently, its current liabilities include accounts payable, sales taxes payable, income tax payable, payroll taxes payable, accrued wages payable and unearned revenues. Long-term liabilities thus include long-term notes payable and mortgage payable. These current and long-term liabilities make the total liability the company owes to its stakeholders. In the balance sheet, capital of the company includes owners equity, investment. By calculating the total assets, liabilities and capital Bill would obtain its net worth. Budgeting process According to the policies implemented by ATO, Bill should also note the information disclosed in the bills of transactions, which should include the name of the payer, supplier or the receiver of the payment, the licensed business number held by the other entity receiving or paying the bill, the cost of expense of purchase incurred, the classification of goods purchased and expenses incurred along with the date of transaction and its documentation. It will also be mandatory to ensure that the records are true and original in order to ensure adequate accuracy and legitimacy of the process (ATO, 2016). Using spread sheet for accounting Bill Goodale can use excel sheet to record company transactions, offering an updated and accurate view of its financial positioning based on which, future budgetary planning can be performed. Using of excel will also help Bill Goodale to work simultaneously with the other users, allowing him to make proper utilization of time and information. This will allow Bill and other members of the accountant department to brainstorm with sufficient data to produce a realistic budget. Conclusion It has been observed that the misstatement of the data in the budget was a result inaccuracy of the records maintained by the accountant department in Big Red Bicycle Company. It is therefore essential to develop and follow a more accurate and precise format of record keeping that would allow more accurate budget forecasts and projections for the future years. In doing so, it is also important to maintain alignment with the ATO regulations of record keeping so that the company can attain advantages from taxation policies and frameworks. It is thus that Bill Goodale is suggested as the most appropriate personnel to be bestowed with the job roles of record keeping for the company, at least for the next fiscal year. However, as he is a relatively less experienced professional in the field, he might require training assistance, which has been delivered through the cheat sheet produced in the paper. 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