E-Budgeting

Allowance trading is an annual, area-wide emission cap (i.e., budget) established over a defined area of air pollution sources. There is a specified time-dependent... 

L. A. Gordon and G. E. Piuches, Improving Capital Budgeting A Dedsion Support System Approach, Addison-Wesley, Reading, Mass., 1984. 

The same money invested in a project with a (DCFRR) of 10 percent would, by Eq. (9-108), obtain an entrepreneurial return i = 8.37 percent on the whole investment, i.e., 8.37/ 100. Investment of the entrepreneur s own money would only achieve an aftertax return of (0.1)(1 — 0.40) = 6 percent on 50, or 3/ 100 of total investment. The incentive to the entrepreneur to manage the projeci thus corresponds to a tax-free income of 5.37/ 100 of total investment. In practice, money is borrowed from more than one source at different interest rates and at different tax liabihties. The effective cost of capital in such cases can be obtained by an extension of the above reasoning and is treated in detail by A. J. Merrett and A. Sykes Capital Budgeting and Company Finance, Longmans, London, 1966, pp. 30 8). 

In Eq. (9-223), Cqh — 0Cboh) E known as the budgeted overhead-cost variance, 0(cboh oh). s the overhead-volume variance, and voh(Q Q ) 3.S the overhead-efficiency variance. The last is analogous to the labor-efficiency variance and is the standard overhead rate multiplied by the deviation in time taken to produce a given output. 

Also in Eq. (9-224), Cboh E simply the flexible budgeted overhead cost in dollars per hour for the actual production rate, and the overhead-volume variance 0(cboh oh) is the actual time taken to produce a given output multiplied by the difference between the flexible budgeted overhead cost and the standard overhead cost in dollars per hour. The budgeted overhead-cost variance (Cqh — 0Cboh) is the difference between the actual overhead cost and the actual time (in hours) required to produce the given output multiphed by the flexible budgeted overhead cost (in dollars per hour). 

Preliminaiy e.stimate (budget-authoiization e.stimate). Requires more detailed information than study estimate probable error up to 20 percent. 

Following development of the study direction, the evaluation describes the efforts of obtaining and validating process information, and then discusses equipment specifications and a cost estimate of the feasibility or budget type i.e., with plant costs factored from major material. Finally, project economics and financing complete the evaluation. 

Facility Operations and Management Assistance (e.g., budget keeping, management records) ... 

A basic goal of the cycle approach is to determine how the fluxes between the reservoirs depend on the content of the reservoirs and on other external factors. In many cases the details of the distribution of an element within each reservoir are disregarded, and for the most simplified calculations, the amounts of material in each reservoir are assumed to remain constant (i.e., there is a condition of steady state). This allows a chemical budget to be defined for the entire cycle. 

Budgets and cycles can be considered on very different spatial scales. In this book we concentrate on global, hemispheric and regional scales. The choice of a suitable scale (i.e. the size of the reservoirs), is determined by the goals of the analysis as well as by the homogeneity of the spatial distribution. For example, in carbon cycle models it is reasonable to consider the atmosphere as one reservoir (the concentration of CO2 in the atmosphere is fairly uniform). On the other hand, oceanic carbon content and carbon exchange processes exhibit large spatial variations and it is reasonable to separate the... 

It can be shown that for a reservoir in steady state. To is equal to t, i.e. the turnover time is equal to the average residence time spent in the reservoir by individual particles (Eriksson, 1971 Bolin and Rodhe, 1973). This may seem to be a trivial result but it is actually of great significance. For example, if tq can be estimated from budget considerations by comparing fluxes and burdens in Equation (1) and if the average transport velocity (V) within the reservoir is known, the average distance (L = Vxr) over which the transport takes place in the reservoir can be estimated. 

Sundquist, E. T. (1993). The global carbon dioxide budget. Science 259,934-941. 

Stedman, D. H. and Shelter, R. E. (1983). The global budget of atmospheric nitrogen species. In "Trace Atmospheric Constituents" (S. E. Schwartz, ed.). Wiley, New York. 

Moreno-Ostos E, Marce R, Ordonez J, Dolz J, Armengol J (2008) Hydraulic management drives heat budgets and temperature trends in a Mediterranean reservoir. Intemat Rev Hydro-biol 93 131-147... 

Otherwise, one is left with the possibility to accept that an individual OOS result constitutes failure, and must be avoided. This can be done by reducing the probability of occurrence of one OOS result out of N measurements to some predefined level, e.g., p < 0.05. The acceptable level of risk is management s decision, because they will have to face the press (Wall Street, FDA, etc.) if scandal errupts, and approve the budget overruns incurred by increased testing and wasted batches. 

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