Budgeting and Alternative Budgeting Techniques - Free Essay Example

Sample details Pages: 10 Words: 3035 Downloads: 2 Date added: 2017/06/26 Category Economics Essay Type Research paper Did you like this example? 1. BUDGETING 1.1Introduction It is critical that business develop plans for the future. It is unlikely that a business will achieve whatever they set out to do unless its managers are clear on what the future direction of the business in going to be. Don’t waste time! Our writers will create an original "Budgeting and Alternative Budgeting Techniques" essay for you Create order According to Atrill McLaney (2012), the development of plans involves, establishing the missions and objectives, undertaking a position analysis, identifying and assessing the strategic options, selecting strategic options and formulating long term strategic plans. The strategic plans are then broken down into short term plans for each business unit. These plans are known as budgets. Weetman (2010, p.317) defines budgets à ¢Ã¢â€š ¬Ã‹Å"as a detailed plan which sets out, in money terms, the plans for income and expenditure in respect of a future period of time. It is prepared in advance of that time period and is based on the agreed objectives for that period of time, together with the strategy planned to achieve those objectives.à ¢Ã¢â€š ¬Ã¢â€ž ¢ Drury (2013), reckons that the multiple functions of budgets include; planning annual operations, coordinating the various functions of the organizations, communicating plans to the various responsibility centres, motivating mangers to ach ieve organizational goals, controlling activities and evaluating the performance of managers. 1.2Traditional Budgeting This form of budgeting is also known as incremental budgeting. As discussed by Atrill McLaney (2012), budget setting is undertaken on the basis of what happened in the previous year with adjustments for factors expected to affect the subsequent period budget such as inflation. For instance If the salaries of doctors in a hospital was GBP 2M, when the budget for next years budget is being prepared and the hospital administrator thinks that we will need three new doctors who will be paid GBP 60,000 each and he will have to give all doctors a payrise of 5%, on the assumption that even the new doctors will get a payrise then budget for doctors salaries in the coming year will be GBP 2.18M = [2 + {60,000*3}]*1.05. This form of budgeting is deemed to have the following advantages; it is easy to prepare and can therefore be allocated to junior members of staff, it is easily understandable, owing to shorter preparation times, It has lower preparation costs, it reduces conflict amongst functions since the same approach is used organization wide, and finally impacts of any changes can easily be traced to its origin, in our example the increase in doctors salary costs can quickly be attributed to the annual increase. There has however emerged criticism to this method of budgeting. As noted by Drury (2013), the major disadvantage of this method is that the majority of expenditure associates with the current level of activity remains unchanged, which makes the costs of support activities to become fixed, and past inefficiencies and waste inherent with the status quo is perpetuated. It also gives insufficient focus on improving efficiency and effectiveness; resource allocation tends to be based on existing strategies with no thought of future strategies; it has excessive focus on short-term financial targets which often leads to arbitrary resource allocations. In considering our scenario of a company (Say Company A), operating in a stable market place with little ch anges in products or demand, and a company (Say company B), operating in a very dynamic rapidly changing environment, it may be partially appropriate though not optimal for company A to adopt traditional budgeting than would be for company B. Budgets based on historical figures suit better companies whose operations are relatively stable on the premise that customer relationships do not necessarily disappear year on year, and that budgets are not made without consideration of external factors such as the current economic situation and anticipated future development. According to Stevens (2007), incremental budgeting will provide accurate budget figures for variable costs since these have a clear link to production or sales, however such an approach will unlikely produce accurate figures for support departments whose costs are largely fixed. Markets have become volatile, and extremely competitive. This has created a shift of emphasis from internal effectiveness, in which traditional budgeting is a useful tool, to external effectiveness or competitive edge (Ekholm Wallin, 2000). It is therefore advisable for both companies to consider alternative budgeting techniques. 2. ALTERNATIVE BUDGETING TECHNIQUES 2.1Zero based budgeting (ZBB) This method is also known as the priority based budgeting, and emerged as an attempt to address the inherent limitations of traditional approach to budgeting. According to Atrill McLaney (2012), it rests on the philosophy that all spending needs to be justified. Budgets start on a zero base and will only be increased above zero if a good cause can be articulated on why the scare resources of the organization should be allocated to an activity. Drury (2013), further states that ZBB involves three stages which are; a description of each organizational activity in a decision package; the evaluation and ranking of decision packages in order of priority; and allocation of resources based on order of priority up to the spending cut-off level. This approach is best suited to discretionary costs such are research and development and training costs, where there is no optimal relationship between input and outputs. Proponents of this method argue that it has the following benefits; it avoid s the deficiencies of budgeting and represents a move towards the allocation of resources by need or benefit. Thus, unlike traditional budgeting the level of previous funding is not taken for granted. ZBB creates a inqusitive attitude rather than a complacent one that assumes that current practice represents value for money hence inefficiencies and wastage are reduced. ZBB rationalizes outputs in relation to value for money; it encourages managers to look at alternative operations plans. However critics of this approach have argued that the processes are too costly and time consuming. The process of identifying decision packages and determining their purpose, cost and benefits is extremely time-consuming (Drury 2013). There are often too many decision packages to evaluate and there is frequently insufficient information to enable them to be ranked. Further managers whose areas of responsibility are subjected to ZBB may feel threatened by it (Atrill McLaney 2012). However benefits o f this approach can be gained by using it on a selective basis, or as advanced by Drury (2013,) by applying it selectively to areas that management is most concerned and used as a one off cost reduction programme. Benefits of ZBB can be captured by using priority-based incremental budgets. Priority incremental budgets require manager to demonstrate the incremental change in their activities if their budgets were to be increased or decreased by a specific percentage. Budget allocations are made by comparing the change in costs with the change in benefits (Drury 2013). 2.2Activity based budgeting (ABB) This approach is an extension of activity based costing. According to Atrill McLaney (2012) under a system of ABB, the budgeted sales of products or services are determined and the activities necessary to achieve the budgeted sales are then identified. Budgets for each of the various activities are prepared by multiplying the budgeted usage of the cost driver for a particular activity (as determined by the sales budget) by the budgeted rate for the relevant cost driver. Budgets under this approach are focused on cost driving activities rather than functions. ). The idea is to create a new budgeting model, which gives the company more flexibility to react to unexpected events, thus emphasizing the importance of operational planning (Hansen, 2011). ABB involves the following steps; estimate the production and sales volume by individual products and customers; estimate the demand for organizational activities; determine the resources that are required to perform organizational activi ties; estimate for each resource the quantity that must be supplied to meet the demand; and finally take action to adjust the capacity of resources to match the projected supply. The aim of ABB is to approve the use of only those resources necessary to undertake activities required to meet the budgeted production and sales volume (Drury, 2013). A definite advantage of this approach is that it overcomes the incremental approach since revenues and costs are linked to activities. It also highlights the external focus such as deriving target costs from customer and market requirements and basing target setting on internal and external benchmarks (Bunce, Fraser Woodcock, 1995). ABB reduces bureaucracy and time associated with budget preparation, meaning the value added by the process increases. Since the ABB budgeting model is usually computer based, it can easily be updated to new circumstances (Hansen, 2011). ABB highlights any imbalances and inefficiencies, by providing information t hat can be used to improve operations since the company can see where the resources are needed; and finally communication of objectives improves since the lower-level managers understand operational terms better than financial. However a major shortcoming of this approach is that if defining cost drivers is not done well, then the result may be vague descriptions of activities which makes it hard to properly analyze the activities and place any kind of values on them (Marcino, 2000). 3. CONCLUSION There has been emergent critics of budgeting with some advocating for the total abolishing of the process and replacing it with Beyond Budgeting. Beyond budgeting central goal is to abolish annual budgeting, replace it with benchmarked metrics and eventually completely decentralize power (Hope Fraser, 2000). It advocates decentralizing the whole organization and giving greater independence to lower level managers, which enables managers to make fast decisions, since they no longer need to base their decisions on budgets alone. Further Drury (2013), suggests rolling forecasts produced on a monthly or quarterly basis as an alternative to annual budgeting. Rolling forecasts should embrace key performance indicators necessary to achieve the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s objectives based on balanced scorecards. However from a survey conducted by Dugdale Lynn (2006), on financial and nonfinancial managers in 40 companies concluded that budgeting was alive and well. These managers thought bud gets were important for planning, control, performance measurement, coordination and communication. Rather than abandoning the budget, it would be better to diagnosis its problems and fix it (Greenberg Greenberg, 2006.) The budget is an inexpensive and ascertained method for guiding action and reducing risk, and therefore likely to remain a ubiquitous feature of management for the foreseeable future. 4. TRANSFER PRICING Procter (2012, p.322) defines transfer pricing as à ¢Ã¢â€š ¬Ã‹Å"the monetary value for which goods and services are exchanged between different responsibility centres of the same organization and if the responsibility centres are in different countries then the exchange value in known as the international transfer price.à ¢Ã¢â€š ¬Ã¢â€ž ¢ The purpose of transfer pricing includes; provision of information that motivates divisional managers to undertake good economic decisions; avail information crucial to evaluating economic and managerial performance of divisions; ensuring that divisional autonomy is maintained; allocation of divisional resources and intentionally moving profits across divisions hence minimizing tax obligations. There are various approaches to setting transfer prices for goods and services across divisions. Some of these methods are discussed below; 4.1Market based transfer prices Market prices are those that exist in an open market (Atrill McLaney, 2012). It would be therefore optimum for both decision making and performance evaluation to set transfer prices at this competitive market price. This condition exist in a perfectly competitive market where products and services sold are the same and no individual buyer or seller can influence the prices (Drury 2013). Divisional profits will most likely be the similar to profits that would be calculated assuming that the divisions are separate organizations. This enables divisional profitability to be compared directly with profitability of similar companies in the same business. Where selling costs for internal transfers are identical to those of selling externally, it would then not matter if the supplying division decides to transfer its product internally or sell externally. This is illustrated by Fig. 1.1 1.2 below; Fig. 1.1 Fig 1.2 Figure 1.1 1.2 illustrate an example where the supplying division either sells to a receiving division or to the external markets. If the supplying division supplies 1000 units at 9,000 and the receiving divisions incurs a further 5,000 in incremental costs and can sell the final product at 20,000, then it is evident that in both scenarios the division and overall company contribution remains unchanged. Transferring products at market prices may result in the selling division making savings relating to selling and distribution costs which may be passed on to the buying division in form of lower prices. When transfer prices are undertaken at market prices, divisional performance is most likely to represent the real economic contribution of a division to the overall company profits (Drury 2013). The use of this approach is objective and has real economic credibility, since the market price represents the opportunity cost of the products. A major challenge with this approach is that an external market price may simply not exist, which is co mmon with goods and services tailored to the needs of the buying division which is the only market. Further if the division has spare capacity basing transfer price on the market price may lead to lost sales, hence in the short run a price higher than the variable costs should be accepted. 4.2Full cost transfer pricing If cost is the basis of transfer pricing, then the selling department will earn no profit and the buying department will have a cost that is lower than it would pay for in an external market (Weetman 2010). This approach can hinder the evaluation of divisional performance. There will be difficulties in making resource allocation decisions concerning the level of output, product mix and investment levels within a division since profit cannot be used as a gauge of efficiency. We will consider an illustration; Simba and Chui are divisions of the Big 5 Group. Simba produces an intermediate product that is used by Chui in manufacture of the final product. Chui has developed a matrix of expected sales of the final product as follows; The costs for each division are tabulated below; A computation of the profits for the Big 5 Group as a unit is represented in Fig 2.0 below; Fig. 2.0 The profits for the Simba division are computed and tabulated in Fig 2.1 Fig. 2.1 The profits for the Chui division are computed and tabulated in Fig 2.2 Fig. 2.2 From the illustration; the optimum output level for the Group is 5,000 units. Drury (2013, p.350) defines net marginal revenue as à ¢Ã¢â€š ¬Ã‹Å"the marginal incremental revenue from the sale of an extra unit or a specified number of incremental units of the final product less the marginal conversion costs excluding the transfer prices.à ¢Ã¢â€š ¬Ã¢â€ž ¢ Thus the net marginal revenue associated with the receiving division is computed on Fig 2.3; Fig. 2.3 Under Full cost transfer pricing, assuming an optimum company output level of 5,000 units per Fig 2.0 the fixed cost per unit of Simbaà ¢Ã¢â€š ¬Ã¢â€ž ¢s intermediate product will be $10 ($50,000/5000 units) thus a full cost of $19 ($10 fixed cost/unit + $9 variable cost/unit). If the transfer price is $19 ($19,000 per 1000 units) the receiving unit will purchase only as long as the net marginal revenue exceeds the transfe r price. The optimal level for the receiving division will be at 4,000 units at which level the net marginal revenue will be $35,000 (Fig 2.3), hence they will not want to operate at 5,000 units which is the optimal level for the whole Group. Further at the selected level of output the Simba division total costs will exceed its transfer revenue. Its transfer revenue will be $ 76,000 ($19*4,000) whilst its costs will be ($36,000+$50,000). (Fig. 2.1). This price therefore does not ensure that optimal output decisions are made and also not suitable for performance evaluation. Under this pricing approach managers often have no incentive to control costs since these will be passed on to the buying division. However if the division has spare capacity and cannot sell externally then this approach could be justified (Weetman 2010). 4.3Cost plus a mark- up transfer prices It is possible to add a mark up to the full cost of the intermediate product to ensure that the supplying division makes a profit. The profit should justified or it will be a matter of contention between the two divisions (Atrill McLaney, 2012). The purpose of transfer pricing is to motivate both the supplying and receiving divisions to operate at an optimum level for the Group. In this case this level is 5,000 units. Assuming that our transfer price (based on cost plus mark-up) is $40, obtained from the summation of the fixed cost per unit, variable cost per unit and a mark-up, the profit computations for each division will be as tabulated in figure 2.1 2.2 above. Whilst the supplying division will maximize profits at 6,000 units (Fig 2.1) the receiving division will maximize at 3,000 units (Fig 2,2), none will be willing to operate at 5,000 units (Fig 2.0) which is the optimum level for the Group. The receiving division will not increase output beyond 3,000 units because the tr ansfer price charged beyond this level $ 40,000 ($40*1000) exceeds the net marginal revenue of $ 35,000 (Fig 2.3). This approach does not offer managers any incentive to control costs since these will passed on the buying division. Operational inefficiencies of the supplying division are passed on to the receiving unit. 4.4Negotiated transfer prices Transfer prices can be set through negotiations between the managers of the selling and acquiring divisions. According to Proctor (2008), this approach works best where there is an active external market for the products as the external market price will signi ¬Ãƒâ€šÃ‚ cantly in ¬Ãƒ ¢Ã¢â€š ¬Ã… ¡uence the transfer price by acting as a reference point. Also in this case divisional managers are free to accept or reject offers made by other divisions. This method may however lead to severe disputes in cases where divisional manager fail to agree on a price which may require the intervention of senior management. It can be time consuming and may distract top management from their strategic role. Senior management intervention may also be interpreted by the divisional managers as undermining the autonomy of divisions (Atrill McLaney, 2012). In other circumstances the negotiated prices may be artificial and misleading; especially in divisions whose managers have poor barga ining skills. For negotiations to work effectively it is important that managers have equal bargaining power. 5. CONCLUSION In the absence of a perfect market for the intermediate product none of the transfer pricing methods can perfectly meet both the decision making and performance evaluation requirements and not undermine divisional autonomy. A solution may be based on marginal cost with a fee added that provides some reward to the selling division without discouraging the buying division. What matters is that both divisions employ decisions that benefit the overall organization.

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Segmentation of Budweiser Free Essays

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Currently, there are thousands and thousands of e-banking web sites all over the world. Botswana is a developing country, located in the southern part of Africa. She has a population of just about 2 million. Being a developing country, internet technology has not been quite a thing for the citizens. Majority of people who get to use the internet are those in tertiary schools, work places and government departments, since they can get to use internet there. â€Å"In October 30th 2008, Botswana completed the multi-million pula Trans-Kalahari fibre-optic project, covering approximately 2000 kilometres. The project is expected to act as a catalyst to the growing ICT industry in the country. †Ã‚  (Botswana Guardian. 2008) This study focused on the information technology (IT) adoption in a developing country; Botswana, where internet technology let alone internet banking is still at its infancy stage, but could offer potential benefits and usefulness to the entire population and to the banking industry in the not so distant future. â€Å"The Botswana government together with that of Namibia recently contributed US$37. 5 million each to secure the West African Cable System (WACS) landin g point. The 14 000 kilometre cable will bring direct and fast connectivity between Namibia, Botswana, West Africa, the United Kingdom and the rest of the world with a design capacity of 5. 12 terabit. These developments are expected to mark the beginning of cheaper bandwidth in the country. Both countries, Namibia and Botswana are at the dawn of an infrastructure revolution on the ICT landscape where broadband communication services will be further enhanced to benefit businesses, ndustry, internet community, academia and the entire population. † (Telecom Namibia, 16 February 2011) For the business industries in Botswana to stay competitive, they would have to implement e-commerce to enable them to be more competitive and efficient. This without any doubt includes the banking industry, which by no means have to implement and manage effectively the Internet banking services. The importance of e-commerce in Botswana is very critical since Botswana is a landlocked country and has no access to sea ports. The Botswana government is looking at making the country the communication harbour in the region. Under the government of Botswana’s plans, developing e-business is a critical step and a vital pillar of the economy. † (Botswana Guardian. , 2011). Given the importance of e-business and of Internet banking, it should be the key strategy of the banking industry in Botswana, just like in other developed and developing countries. Although the Botswana government is willing to spend money to invest on internet technology, thus improving e-commerce infrastructure, the ultimate success of Internet banking is still depending on consumers’ perceptions and whether they are willing to use internet banking. Therefore, users and/or customers ought to be willing to use, adopt and accept the technology. 1. 2 Problem Statement â€Å"Internet usage in Botswana remains very low as a result of the high cost to access it, the high cost of computer hardware and generally low levels of Internet awareness. Botswana remains on the wrong side of the digital divide with little access to development and innovation. The Internet banking service is a new technology in Botswana which means it needs a lot of efforts and sources to be adopted by both banks and customers. † (Chippa Legodimo. , 2007). Although previous studies into internet banking adoption show that Internet banking has been implemented completely in many developed countries such as the United States of America and Europe (Pakkarainen et al. 2004) and thus showing more on the factors affecting Internet banking adoption and/or acceptance on innovation adoption in the context of such developed countries (Daniel, 1999; Mols, 2000), there is a growing trend in the adoption of Internet banking by the banking industry in the developing countries too (Gurau. , 2002). It should be noted, that even though Botswana is one of the developing countries; her economy is not growing at the same rate as those of other developing countries. This could be mainly due to her geographical location. Therefore; e-commerce infrastructure is still less developed, thus the adoption of Internet banking is still at its infancy stage when compared to other developing nations. Given that in several countries, studies have been carried out measuring the factors affecting adoption of Internet business; and since there has never been any research or study on the factors affecting the decision to adopt Internet banking in Botswana, this study tried to study and measure such factors. 1. 3 Research Objectives The primary objective of this study was to comprehend the consumers’ perception towards the adoption of internet banking in Botswana and to identify the factors affecting the decisions to adopt internet banking. The objectives of this research are as follows: 1. To identify the key factors affecting the decision to adopt Internet banking system in Botswana. 2. To examine whether socioeconomic influences the decision to adopt Internet banking in Botswana. 3. To identify the most significant factor that affect the decision to adopt Internet banking in Botswana. 1. 4 Definition of Terms Internet Banking (Internet banking): Computerized service that allows a bank’s customers to get Internet with the bank via internet or telephone lines to view the status of their account(s) and transaction history. It usually also allows them to transfer funds, pay bills, request check books and so on (Business dictionary. , 2011) Internet: Global network of networks using universal standards to connect millions of different networks (Kenneth C Laudon and Jane P Laudon. , 2010). Information Technology (IT): The hardware and software technologies a firm needs to achieve its business objectives (Kenneth C Laudon and Jane P Laudon. 2010). Information System Literacy: Broad-based understanding of information systems that includes behavioral knowledge about organizations and individuals using information systems as well as technical knowledge about computers (Kenneth C Laudon and Jane P Laudon. , 2010). Adoption: The ability to accept and be willing to use. Privacy: The claim of in dividuals to be left alone, free from surveillance or interference from other individuals, organizations or the state (Kenneth C Laudon and Jane P Laudon. , 2010). Computer Literacy: Knowledge about information technology, focusing on understanding of how computer-based technologies work (Kenneth C Laudon and Jane P Laudon. , 2010). Security: Policies, procedures and technical measures used to prevent unauthorized access, alteration, theft or physical damage to information system (Kenneth C Laudon and Jane P Laudon. , 2010). Risk Assessment: Determining the potential frequency of the occurrence of a problem and a potential damage if the problem were to occur. Used to determine cost/benefits of a control (Kenneth C Laudon and Jane P Laudon. , 2010). 1. 5 Scope of Study This study focused on internet banking adoption in a developing country, Botswana; where internet banking is still emerging and seems promising. The study was carried out on individuals comprising of Botswana population, mainly in the two cities; Gaborone and Francistown and the two major towns Jwaneng and Lobatse. The study looked at factors affecting the decision to adopt internet banking services, particularly in Botswana. Some of the developing countries like Malaysia (Suganthi and Suganthi. , 2001) and Turkey (Polatoghu and Ekin. , 2001) have successful implemented and adopted internet banking services. Adoption and implementation of internet banking is on the rising trend among the developing countries (Gurau. , 200). Likewise, Botswana as a developing country ought to implement and adopt internet banking services, therefore, this study looked at factors affecting the decision to adopt internet banking in Botswana. 1. 6 Significance of Study Banks: Comprehending the behaviour and perceptions of the customers is of great concern and importance to the survival of Banks (Devlin, Worthington, and Gerrard. , 2007). The banks and/or financial institutions will use this study to improve their service quality. The study will facilitate useful feedback that will be used for the improvement of the services and facilities rendered by both banks and other financial institutions in Botswana. Internet usage is at its infancy stage in Botswana and this study will permit the banks to position themselves and acquire the necessary knowledge on how to sell the service more to their customers. Understanding the customer’s perception regarding a product and/or service, put the banks at an advantage, thus allowing them to formulate strategy and customize their services to the needs of their customers. Customers/users: Customers/users ought to know and/or be aware of the cons and pros of using this facility. Therefore, the knowledge on the factors affecting the customers’ decision to adopt and use internet banking is a vital asset to all customers and potential customers as they will be in a position to make informed decisions. This study would enable customers to evaluate if they really need this service or not. Research: Since there is no study in previous researches on this topic in Botswana in particular, future and current researchers would be in a position to use it as a point of reference and/or to improve it. It will also encourage other researchers to consider researching more on the adoption and use of internet banking in Botswana. It will serve as a starting point for them. 1. 7 Organization of Study Chapter 1: introduction This chapter inductions the subtopics such as background of study, research objectives, definition of terms, scope of study, significance of study and organization of study; to make the comprehension of the whole study visible and/or viable thus making it easier to comprehend the whole study. It is more of a gate way into the whole study as it gives a brief but detail description and/or summary of the whole study. Chapter 2: literature review Based on the previous studies, this chapter discusses and explains internet banking in details and factors affecting the decision to adopt internet banking in Botswana. It clearly depicts the definitions of dependent variable, independent variables and moderating variables. References from the previous studies are used to enhance comprehension and to see how independent variables influence dependent variable, if ever they do. Chapter 3: Methodology This chapter depicts the whole arrangement of the study. In includes such subtopics as, research framework, hypothesis development, data collection method, questionnaire design, data analysis techniques and summary. Such subtopics are discussed in detail. It is in this chapter that all factors affecting the decision to adopt internet banking in Botswana (independent variables) and moderating variables are discussed and sampled. Hypothesis statements are presented and data collection methods are well explained here. Questionnaire is designed based on the independent variables and moderating variables to measure or see if there is any relationship and/or association between them and the dependent variable. Chapter 4: Data Analysis and Findings This chapter involves the incorporation of the interpretation of the collected data from respondents via quantitative method. The determination of the acceptance or rejection of the stated hypotheses statements was also tested. Software called SPSS (Statistical Package for Social Sciences) otherwise also known as Predictive Analytics Software (PASW) was used in the research to measure the results. This chapter mainly focuses on analysis the data collected, modelling, graphing and tabling it and presenting it. It is in this chapter, where the acceptance and/or rejection of hypothesis testing statements were scrutinized. Chapter 5: Conclusion and Recommendations This chapter explains the outcomes of the testing of the hypotheses determined in chapter 4. The acceptance or rejection of the hypothesis is discussed as well. Additionally the concluded results of hypothesis testing from this study are compared with findings from previous researches. Limitations of this study were also discussed. How to cite Segmentation of Budweiser, Papers

Edgar Allen Poe1 Essay Example For Students

Edgar Allen Poe1 Essay Edgar Allen Poe is mainly known for his personal life rather than his great ability to write short stories. Rumors include his problem with alcoholism and drug addiction. In reality, though, Edgar Allen Poe had a talent for writing stories of horror and suspense, and also for creating America’s short story form. Edgar Allen Poe was born in Boston, Massachusetts on January 19, 1809. His father, David Poe, was from a Baltimore family. He was an actor barely making a living and a heavy drinker. Poe’s mother, Elizabeth Arnold Poe, was also in the acting business. She became a widow at the age of eighteen. Two years after his birth, she died of tuberculosis. When his mother died, Poe was adopted by John Allen. Edgar had gotten his middle name from him. His brother and younger sister were sent off to two different families. In 1815, John Allen moved his family to England. While there, Poe was sent to private schools. After living in England for several years, the Allen’s moved back to Richmond, Virginia. When Poe reached his teenage years, tensions developed between Mr. Allen and himself. The Allen’s were very wealthy, but Mr. Allen disapproved of Edgar’s actions, so he decided that he would not inherit any of the family’s wealth. In the spring of 1826, Poe entered the University of Virginia. John Allen did not support his tuition well enough, so Poe turned to gambling to get money. Finally, after months of disputes, Poe left the Allen’s home and went out on his own. In May of 1827, Poe enlisted in the army as a common soldier under the name Edgar A. Perry. He was stationed on Sullivan’s Island in Charleston Harbor for over a year. Poe quickly rose to the rank of regimental sergeant major. After a while, he got tired of the same daily routine involved in military life. He ended up getting discharged for gross neglect of duty and disobedience of orders (Byers 364). After being discharged from the Army, Poe went back to Richmond to visit the Allen’s. After having another dispute with Mr. Allen, he moved to Baltimore to live with his Aunt Maria Clemm and his cousin, Virginia. He was unemployed and trying to find work. In 1831, Poe decided to seek employment and make his living by writing. He published one of his first works, Poems by Edgar Allen Poe. Failing to get attention with is poems, he decided to start writing short stories. Poe competed in a contest by the Phil-Saturday Courier for the best short story in 1831. He did not win t he prize. This made Poe very determined to start a new project. He decided to plan a series of tales told by members of a literary group. He found no publisher for his stories, but still entered another contest again in June of 1835. This time, he sent one poem and six stories. His story, â€Å"Ms. Found in a Bottle,† won. He received one hundred dollars for it. Through the influence of one of the judges, John P. Kennedy, Poe became employed as an editor of the Southern Literary Messenger, published in Richmond. Under Poe’s editorship, the Messenger’s circulation rose from 500 to 3500. While in Richmond, Poe married his cousin, Virginia, who was not quite fourteen years old. He was eventually fired from the Messenger in January 1837 because of his drinking problem. Poe then went to New York, where he was very unsuccessful. In the summer of 1838, he moved to Philadelphia. While there, he worked as an editor of both Burton’s Gentlemen’s Magazine and Graham’s Magazine. He entered another contest and won one hundred dollars for his story â€Å"The Gold Bug†. Even though he won this prize, he moved back to New York and found a job as an assistant editor for the Evening Mirror. This was where â€Å"The Raven† first appeared on January 29, 1845. Even though the poem was a great success and got published all over the country, Poe still did not get much recognition from his poems. The year of 1845 was a lucky year for Poe. He published a collection of his tales and an edition of his poems named The

An Occurrence at Owl Creek Bridge free essay sample

While reading An Occurrence at Owl Creek Bridge by Ambrose Bierce. The sense of time, descriptive writing, and plot make this short story, I feel, very worthy of a literary analysis. At the beginning, there is not a good ending. The main character, Peyton Farquhar, is being hanged. The events leading up to his hanging give the reader a case of anxiety, the reader assumes the death of Peyton as he meets his end. Immediately following, there is a transition into a flashback. The flashback is very valuable, and very well placed. It tells of Peytons background, and how he most likely came to be in his position at Owl Creek Bridge. The flashback makes the reader forget about the present timing of events, which is very vital in making the illusion of Peytons daydream a reality. The flashback quickly comes to an end. The character slips into a very deadly daydream, and so begins the illusion. We will write a custom essay sample on An Occurrence at Owl Creek Bridge or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Through Peytons imaginary endeavors, the beauty of nature is taken upon the reader in a sense of time that would in most cases not be useful. Time comes to a near halt as Peyton, in his daydream, has managed to fall into the stream that he was being hanged over, and tries to make his escape. During the intense situation of dodging re-capture or death, everything taken for granted in normal day life is being detailed through Bierces descriptive writing. As Peyton makes his way across the stream, dragonflies buzz around the sluggish stream. Insects on leaves, spiders spinning intricate webs, millions of blades of grass, and dancing gnats fill Peytons vivid daydream. (9) Through the entire scene, time comes to a halt. Instead of the usual action escape scene, Bierce creatively makes the reader acknowledge the finer points of a near death experience- a very unselfish focus on what the reader would most likely miss on this world, instead of focusing on bettering the unfortunate situation. The thought of his wife and children urged him on. (11) As time reaches its slowest, most dull, point; it catalyzes into reality as Peyton fights to save his life. The sense of time is again reversed as Peyton dodges ammunition fire. Bierce increases the heart rate of the reader as the main character relies on pure luck to get away from the firing squad. Finally, Peyton escapes onto land. And again, as soon as time permits, he is taking into full effect of his surroundings. Bierce compares sand to gems, and encapsulates the readers sense of smell with the lush wildlife of the forest. (11) His descriptive scenes force the reader to slow the sense of time and take in the environment to its fullest effect. Bierce makes the pathway home much briefer, although the main character Peyton actually spends a full night traveling home. For the last time, Peytons daydream slows down. His sole wish to be in his wifes arm, his foremost motive to escape, is at long last seconds away from occurring. The familiar descriptive writing style of Bierce accurately provides a sense of relief, and a happy ending. Without warning, Peytons senses do something very strange for the current scene. Although it would seem as Bierce is describing Peyton as blacking out, the anxious reader finds out in the next sentence that he is put to death from being hanged underneath Owl Creek Bridge. Even during an incredibly shocking event, Bierce writes, Peyton Farquhar was dead; his body, with a broken neck, swung gently from side to side beneath the timbers of the Owl Creek bridge. (12) Confusion is replaced by awe, as the reader pieces together the real events of the story. At the end the story, you have to take some time to rethink what you read. Stories that make you think after reading it are the best, I feel. Bierces writing style is perfect for a short story.