Punctuality and Time Essay

Punctuality is being on time or completing something on time. The main thing is time management. Time management is exercising control over the amount of time spent on activities or it is used to manage time when accomplishing specific tasks or goals. With this u can break time management it to categories like Time discipline adding a time limit and the Value of time. Time discipline is the act of planning out time to do something and then sticking to the time u have set to do it or someone else has set for u to do and complete it in that set time. Time discipline can also be using your time wisely and not waiting till the last moment to do it. But allotting time and doing it in that time so you’re not rushed and so u make fewer mistakes on it or no mistakes. Using your time in a manner where u have the time need to finish the task and either turn it in or come back and relay that the task is done to whoever gave u that task that u had just finished. Setting a time limit a time limit or deadline is a narrow field of time, or particular point in time, by which an objective or task must be accomplished. In project management, deadlines are most often associated with easily obtained goals. Setting a time limit and keeping it is a need tool everyone needs to work and function in every day society. Because if u don’t u won’t be able to hold and keep a job because how can your boss count on you to do and get done with what he/she needs for you to do but I kind of got of topic. Punctuality is the habit of doing things exactly in time. A punctual person will be a winner everywhere. A punctual person is always one step ahead of others. Often we say plan work and work plan. But if you are not stick on your work promptly, punctually, how can you become a better person I your life? Punctuality is essential for man in every walk of life. For students it is a great blessing. If you are punctual you will get enough time to do your work according to your plan. In hospitals, punctuality can make all the difference, of course between life and death. You never face any difficulty so far as time is concerned. You command respect and admiration of all who work with you and are an asset. Everybody likes to work with you such a lovely man. On the contrary an unpunctual man sees himself in arrears as days pass and is gradually filled with despair. He generally causes inconvenience to others and is most of the time a liability. Punctuality is inevitable everywhere. In business also this is very important. If you want to be a successful businessman, you have to be very particular in being punctual. The failure to keep up an engagement punctually may mean a setback for his business. If you are not punctual, you can see your washes away between your cup and lip! If we study the lives of our great men, we find that punctuality was one of the secrets of their success in life. The necessity of doing our work punctually should be felt more keenly because we live today in a complicated society where each work is dependent on the other. The smooth working of the modern world is due to an increasing recognition of the necessity of doing our work punctually. Punctuality being so important in life, it is necessary for every man to cultivate this habit from the very beginning. Once we are punctual, our labours will be lightened, our mind disciplined and our life will be much easier and brighter. so I guess what I’m saying is if we be punctual, we can finish up our work at right time. Punctuality checks unnecessary wastage of time. Time is very valuable for us. We can save it only by punctuality. Time and tide wait for none. Seconds, minutes, hours and days pass by in right order. There is a maxim â€Å"We should hold the time by the forelock†. If we be punctual, a single second of us will never go waste. The English men are very punctual. They put on wrist-watches to exercise punctuality. But we, the Indian put on wrist-watches only as ornaments for show. We cannot progress. If we are not punctual. Punctuality helps us in our progress. It also saves money in other ways. There is a saying. â€Å"A stitch in time saves nine†. So, if we take our food punctually, we will never be sick and so we will never have to spend money on medicines and doctors or to worry our near and dear ones in this connection. Everybody should be punctual in his everyday life. Every one should make a habit of punctuality. The people who have become great in their lives are very punctual. Punctuality is the first condition for becoming great in life. So, punctuality should be the motto in our life. We should not only be punctual ourselves but also advise others to be punctual. But when it comes to the military, certain things are just automatically expected of a person. One of the most important expectations is time management and being on time. Every day there are any number of places one is required to be at a certain time and as the saying goes if you aren’t fifteen minutes early then you are late. One may ask, why fifteen minutes though it may seem Extreme, when dealing with the numbers of people that are dealt with in the armed forces, allowances must be made for the unexpected. There will always be unexpected complications to arise; it is just part of life that is why you can’t simply try to be on time because what happens when something does come up? There is no cushion of time for you to adjust however needed to take care of whatever came up. Just one person being late can begin a chain of events to be set back and throw any number of people’s days off schedule. Say you have an appointment for an eye exam and you are five minutes late. Well that is five minutes that the eye doctor had to wait on one person instead of moving on. The person who’s appointment is after yours is then forced to wait five minutes past when his or her appointment was supposed to begin which could in turn make that person five minutes late to pick up his or her child from school. One person can make that much of a splash just by being late, which is why the military is expected to the punctual. Honor is defined as honesty, fairness, or integrity in ones beliefs and actions. When it comes to being on time one should have the sense to be fair to his or her shipmates not being late and wasting their time. A person being frequently late shows that that person does not respect his or her fellows enough to not keep them waiting on a regular basis.

Capital Expenditure and Revenue Expenditure Essay

Revenue expenditure is an expenditure which on cost of doing business on day to day basis and is necessary to be cover to maintain the business going on effectively. Thus, revenue expenditure is the cash or credit that being spent immediate for short-term purpose, example, expenses on assets such as repair and fuel which will or will not improve the value of the given assets. Capital expenditure is an expenditure which will cause future benefit to the company. It’s the money that spends on the fixed assets or improves the value of existing assets which will increase the company’s strength to pull in profit or higher performance level. Unlike revenue expenditure, capital expenditure is more to an investment than a cost, since it create better business for the company. (Stolowy and J.Lebas 2006, p 234) Capital expenditure is expenditure on fixed assets or increasing their earning capacity. Meanwhile, revenue expenditure is to maintain their earning capacity. The difference being that capital expenditure increase the earning capacity, long-term and produce future benefits, while revenue expenditure maintain the earning capacity, short term and produce immediate benefit. (ACCA F3 2009) Capital expenditure defined as expenditure on purchase or improvement of non-current assets. For example that purchases a van to deliver the goods. Other example such as:- -Delivery of fixed assets-Legal cost of buying property -Installation of fixed assets-Demolition costs -Improvement (but not repair) of fixed assets -Architects fees Revenue expenditure defined as expenditure on running or management of business, example, cost of fuel or diesel for vans. Other example such as:- -Maintenance of fixed assets -Administration of business -Selling and distribution expenses The main difference between the two forms of expenditure is that effect it has of the financial statement of business as the Balance Sheet and the Income Statement. Revenue expenditure affects in the income statement since it is fully consume within the period or carry forward to the next period as left over. Capital expenditure improve the net book or obtain value of an asset or getting a new asset on the books. It is a long term expenditure and will be wrong to be set off as an expense in the current period. It is because that that fixed asset will pull in profit to the company for more than one year or accounting period. We can spread the cost of the asset over those accounting period in the form of depreciation since the fixed asset is used for several accounting periods. (Spiceland, Thomas, Herrmann 2009, p308 and p309) Revenue expenditure shown on the income statement as an expense while capital expenditure treated as fixed asset on the balance sheet. It is necessary to classify these expenditure accurately in the accounting system to avoid uncertain errors. For example, if cost of a van was treated as an expense in the income statement, this will affect the net profit to be reduced; in the meantime the value of the van (fixed asset) will not show on the balance sheet. Hence, incorrect treatment of these expenditure will result:- (Wood 2012, p277) Capital expenditure – treated as – Revenue expenditure Income Statement Balance Sheet Expenses increaseNet profit decreaseFixed assets decrease. Revenue expenditure – treated as – Capital expenditure Income Statement Balance Sheet Expenses decreaseNet profit increaseFixed assets increase. Inappropriate asset classification can skew the financial position and profit of a business. Thus, it’s necessary to classify assets correctly and accurately. Decent classification of the expenditure maintains the  fundamental accounting assumption of accrual, reasonable presentation and accuracy of presentation.