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Essay / Research Paper Abstract
This 4 page paper looks at a case study supplied by the student. A university needs to increase financial control and is looking at introducing profit centers for each academic department. The paper answers three questions, the first looks at the goals and the potential problems, the second part looks at specific problems with the allocation of costs and third part consider if the idea would have been better if it had come from someone inside the university rather than an outsider. The bibliography cites 8 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEprofcenter.rtf
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Unformatted sample text from the term paper:
way that revnue is generated and measured. The move to profit centers for the university is a move that is likely to result in a more proactive financial management and
will have a number of potential benefits, including increased financial awareness and financial responsibility for revue raising, as well as spending placed in the department heads. It may be seen
as an approach that seeks to increase control, maximize revnue potentials and increase accountability ensuring that profit centers are profitable (Chadwick, 2004, Watts, 2004). The goal of a profit center
is to have revenues exceed costs, whereas with a cost center there is the goal to comply with the budget (Elliott and Elliott, 2007) However, there are some difficulties in
the way it is introduced; for the most part it is only the academic schools that can raise the revnue that is clearly allocated, with the tuition fees and it
may appear that this is the way revnue should be measured, but it is more complex. There are services used from many support departments, from the library to maintenance, these
need to be allocated on a fair basis and they may need to create revnue if they are to be profit centers. In addition to this there needs to be
a system of transfer prices introduced (Young, 2008) where one school (such as the business school) takes a student on a course that is enrolled in a different school within
the university. At the current time this is offered as a free service. If profit centers are created the school that has received the revenues from that student will need
to reimburse the alternate school. This could create friction, as school will want to keep students of their own and may try to attract other schools students to increase revenues.
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