Finance Budgeting Example For Free - Free Essay Example

Sample details Pages: 6 Words: 1730 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Level High school Topics: Budget Essay Did you like this example? Budgeting, if not used effectively, can result in underperformance, corruption and even the failure of the organisation. Budgeting has been used as a method of coordination and control but when left unregulated it can result in the very worst kind of opportunistic behaviour. As a result there have been a number of developments in budgeting, such as the rolling budget and benchmarking performance. It is dependent on the organisation which method of budgeting is optimal. Traditionally budgeting has been used by organisations as an accounting tool to plan and control the activities within an organisation or rather The quantitative expression of a plan of action and an aid to the coordination and implementation of the plan (Bhimani et al, 2008, p935). In relation to planning managers are expected to forecast sales, profit, and capital expenditure (Hope and Fraser 2003). This information is then analysed by executive managers and the forecasts of all the different d epartments within the organisation are coordinated and adapted to create a final budget. These budgets are usually set for a short period of time, usually a year, and are set months before the time the budget start date. It is therefore a good way for managers to communicate as these budgets would supposedly identify any potential problems within the departments and plan to action them in the next budget. For example potential bottle necking whereby a department uses more resources than it produces. It also allows each department to understand where it lies in the coordination of the organisation. When a budgeted target is fixed management is evaluated in relation to whether or not they have met the target which provides a measure of control. Managers are directly responsible for the performance of the activities they coordinate and monitor. If managers meet the target they will be rewarded, however if they fail it will reflect badly on their performance, this system provides mot ivation. It also allows for authorised expenditure so departments do not have to seek permission for purchasing which saves time. Each year the budget can be reviewed and modified in order to better suit the actual performances and to allocate resources more effectively. On the surface the idea of traditional budgets seems an effective way to coordinate and monitor an organisation, in reality it can lead to underperformance, corruption and even failure of the organisation. Managers are set a target with the incentive of a bonus so if the target is reached their priority will be to meet the target. As the target has a deadline they will aim to meet the goal irrespective of the long term affect on the organisation. Targeting can lead to a reduction in quality of goods and services. For example if a furniture store set their sales team a target and they could sell to customers on credit they may sell furniture to customers who may be unable to pay back the credit. But the short term results are what matters in terms of bonuses not the long term credibility of the customers. If managers are unable to meet the short term target managers may manipulate results in order to receive a higher bonus in the next period rather that not receive the bonus two periods in a row (Big Bath Theory, Jensen, 2003, p387). As a result it will be difficult for an organisation to have the information required to set an accurate budget in future as a result the communication benefits are reduced. Managers may also manipulate information in order that the target will be set lower than they are capable of achieving and so there is no pressure to work at maximum capacity (Slack Budget). Budgeting therefore promotes manipulation of information by creative accounting, and a reduction in the quality of performance of departments. Traditional budgeting is very inflexible and in times of turbulence of an economy or market it is not easily adapted. Targets are set sometimes months befor e a time period begins and then fixed for the entire period. As there is no way to predict the changes in the state of the economy or particular changes of circumstances within a market traditional budgets do not allow for these changes. Traditional budgets are also very time consuming absorbing up to 30% of management time (Hope and Fraser 2003) this man power has a cost as every time a fixed budget has to be revised resources are allocated away from other activities. It is also time consuming to negotiate and coordinate a new budget with all the departments in the organisation and by the time a revised budget is agreed it could be too late for it to be effective. Budgets were intended as a way for executives to stay close to customer information and adapt accordingly. However this time consuming nature results in any change being made redundant and the manipulation of information, leading to false information, would result in the wrong changes being implemented. As budgets are fixed it prevents innovation as for innovation to be undertaken in traditional budgeting an organisation will need to be worked into the budget before hand so innovation is stifled. The obsession with the detail makes it difficult for an organisation to adapt when necessary to the changing circumstances within the environment they operate. In the cases of the budgets over estimating authorised expenditure managers will use every penny they have been allocated so as to keep the same expenditure in the next budget. In contrast Kaizen budgeting could be incorporated whereby the budget explicitly incorporates continuous improvement during the budget period into the resultant budget numbers. (Bhimani et al 2008) As a result the role of traditional budgeting must be abolished and a more modern type of budgeting should be adopted. One of these ideas is the idea of a rolling budget whereby a budget is produced every three months and covers a set period of time typically between 5-8 qu arters (p112 Hope and Fraser 2003). These types of budget eliminate the problem of a fixed dead line so in manipulating performance statistics, so as to reach the target at the end of the year, managers would instead have an incentive to continue performance continuously. Each year two further budgets could be provided to managers one showing the four year plan and one a ten year plan, for example (p112 Hope and Fraser 2003). This would promote long term planning as opposed to short term manipulation of performance. This type of budget is a lot quicker to put together due to its nature and will also be capable of adapting to environmental turbulences relatively quickly. Kaplan and Norton (1992) created the Balance Scorecard as a measure of performance where it not only concentrate on financial dimensions of performance but also take into account non-financial ones. This is achieved through incorporation of customer, Leaning and growth, and internal efficiency perspectives. (Ciesl ak and Kalling 2007 p3). Benchmarking is another option where key performance indicators (KPI) are used to compare the work of an individual, or section of the organisations. These benchmarks can be set against peers within the same organisation or peers of a competitor organisation. In this case the comparison is relative rather than set and so the focus is shifted from short term goals of the firm to long term improvement and performance of individuals and their department (Drew 1997). The benchmarks are set on process, product/services and strategy (Drew 1997). The information required to improve efficiency lies with the employees and so innovation is able to emerge as more responsibility is given to the workers. Communication is restored and the time taken on setting out a budget is reduced as the aim is not to achieve a target but to get the best result. Jensen (2003) would argue that the source of the loss of integrity is the managerial hierarchy and so decentralisation cou ld be a solution. This decentralisation can be achieved by giving more power to the workers in the form of participating in budget setting (Hofstede 1968 the game of budgetary control p175). This can act as a source of motivation as the workers will feel empowered rather than suppresses by the target setting focus on figures rather than quality. This can also act as a source of learning for both ends of the hierarchy. Stewart (1990) argued that the decentralisation of debt equity was another way to motivate the workers. While there is a very negative perception of the traditional role Marginson and Ogden (2004) for the benefits of traditional marketing. Managers welcomed the certainty created by the combination of clear goals and well-specified objectives and a performance evaluation system that was tightly focused on how successfully those objectives have been achieved (Marginson and Ogden 2004 p436). It is also worth considering the cost of implementing such changed, as organis ations will have to retrain their workers and reorganise the system (Jensen, 2003, p403). As a result organisations must assess the costs and benefits to their specific organisation before abandoning traditional budgeting entirely. Traditional budgeting in small firms could still be effective. In conclusion the full benefit of abolishing traditional budgeting is dependent entirely on how effectively an organisation implements new developments. While developments such as rolling budgets and benchmarking solve some of the problems there is a cost of introducing them. Therefore traditional budgeting should not be abolished entirely in all organisations but instead careful consideration should be taken in deciding what should be implemented and how this should be done. References Bhimani, A, C. T. Horngren, S. M. Datar and G. Foster, 2008. Management and Cost Accounting. Essex. Pearson Education Limited. Hope, J. And R. Fraser. 2003. Who needs Budgets? Harvard Business Review. 81(2). pp. 108-115. Jensen, M. C., 2003. Paying People to Lie: the Truth about Budgeting Process. European Financial Management. 9(3). pp. 379-406 Kaplan, R. S. And D. P. Norton. 1992. The Balanced Scorecard-Measures That Drive Performance. Harvard Business Review. 70(1). pp. 71-79. Cieslak, K. and T. Kalling. 2007. Reasons behind contemporary use of budgets.NNF conference, 9-11 August 2007, Bergen. Lund University, Sweden: pp1-6. Drew, S. A. W. 1997. From Knowledge to Action:Impact of Benchmarking on the Organizational Performance. Long Range Planning. 30(3). pp. 427-441. Great Britain. Elsevier Science Ltd. Hofstede, G. H. 2001. The Game of Budgetary Control. London. Routledge. Stewart, G. B. 1990. Remaking the Public Corporation from Within. Harvard Business Review. 68(4). pp. 126-137. Marginson, D. and S. Ogden. 2005. Coping with ambiguity through the budget: the positive effects of budgetary targets on managers budgeting behaviour. Accounting, Organizations and Society. 30. pp. 435-456. Don’t waste time! Our writers will create an original "Finance Budgeting Example For Free" essay for you Create order

Hydraulic Fracturing Research Paper - 1756 Words

Around the world, countries are dependent on oil and more often than not, foreign oil. The U.S. is at a time where they believe buying foreign oil supports terrorism and hurts our economy. Shale formations deep underground that spread all over the U.S. have been found to contain natural gas. This includes the Marcellus Shale formation and the Utica Shale formation, which can be found all throughout New York State and down the East Coast (Hydro-Fracking pg.1). To get at this abundance of gas underground, hydraulic fracturing was invented, but this new method of gas extraction safe for the environment and for the people around it? Numerous reports have been given on the dangerous affects of hydraulic fracturing. One such†¦show more content†¦pg. 1) â€Å"In a July 19 letter to ten oil and gas producers – including BP, Chesapeake Energy, and ExxonMobil – the lawmakers requested information on the companies’ hydraulic fracturing operations and on possible h uman impacts. According to a subcommittee staff memo, the hydraulic fracturing companies ‘do not track whether the wells they fracture are located in underground sources of drinking water (Hobson Penn.).† Another problem that we know exists with hydraulic fracturing is the contamination of the water, the ground, and the air around the sites (Goldman pg. 2). It has been shown that â€Å"†¦residents living near the hydraulic fracturing sites are increasingly worried that the drilling process might be contaminating their well water, polluting streams, and releasing toxic gases into the air (Hobson).† Water sources, as well as the soil, are often polluted from flowback fluid and from production brine (Hydro-Fracking pg.4). Flowback fluid is â€Å"the contaminated fluid that returns to the surface during the drilling process, and is estimated to be between 9% - 35% of the fluids injected duringShow MoreRelatedRenewable Energy Sources For Energy1540 Words   |  7 Pagesa process called hydraulic fracturing, or â€Å"fracking.† But this energy source is highly polarizing, with strong advocates and detractors. While there are many who believe hydraulic fracturing should not be used in the quest for natural resources, the process has a relatively low impact on the environment, and the shale gas that it produces has the potential to change the energy landscape for the better. Contrary to what environmental activists say, hydraulic fracturing is an inherently safeRead MoreFracking And Its Early Technological Advancements1564 Words   |  7 Pages â€Æ' Contents Introduction 1 What is Hydraulic Fracking? 2 The Roberts Torpedo, 1864 3 Kelpper Well No. 1, 1947 5 Hydrafrac, 1949 6 The Growth of Hydrafrac, 1949 - 1954 8 Introduction Hydraulic fracking (‘Fracking’) dominates the US oil and gas industry. Although it is currently a politically dividing topic due to environmental concerns (United States Environmental Protection Agency, 2010), the concept behind fracking has been around for over 150 years (Roberts, 1866), and has beenRead MoreMicrobial Communities Associated with Hydraulic Fracturing Background Information Microbial600 Words   |  3 PagesMicrobial Communities Associated with Hydraulic Fracturing Background Information Microbial communities have been observed around wells that were created using hydraulic fracturing. Shale beds, like the Barnett Shale in Texas, are believed to be sterilized due to the thermogenic origin of the gas formations. â€Å"The gas in the shale is entirely of thermogenic origin and was generated during heating events that resulted in temperatures of up to 150  °C (Montgomery et al., 2005). These temperatures areRead MoreFracking : Fracking And Fracking1524 Words   |  7 Pages Hydraulic Fracturing Research Paper Hydraulic Fracturing (also commonly known as fracking) is a process used to extract natural gasses deep within the earth. This is done by drilling vertically into the ground until the desired depth; then drilling horizontally; and pumping millions of gallons of water, sand, and other chemicals into the drill at a high pressure to create fissures through which the gas can escape. Currently, hydraulic fracturing is extensively used in the United States in orderRead MorePublic Health and Hyudraulic Fracturing1476 Words   |  6 PagesThis paper explores the process and potential effects of hydraulic fracturing in a public health framework. It defines the relationship between hydraulic fracturing and public health by presenting the pathways and nature of contamination. It concludes by examining the potential effects contaminants may have on the human populations as well as offering recommendations for future studies and analysis. Pathways of Contamination It is believed that the potential health consequences of hydraulicRead MoreWater Contamination Caused By Hydraulic Fracturing1505 Words   |  7 PagesDue to Hydraulic Fracturing in Pennsylvania Natural gas is a fossil fuel that plays a critical role in the demand and supply of energy in the United States. It is considered to be a clean burning transition fuel. Compared to coal and oil, natural gas combustion does not generate as much pollution and is therefore considered an ideal partner for renewable energy resources. Natural gas is extracted from shale formations underground that require horizontal drilling and hydraulic fracturing – â€Å"hydrofracking†Read MoreThe Effects Of Hydraulic Fracturing On The American Economy1398 Words   |  6 Pages Hydraulic fracturing can be very beneficial to the American economy. While beneficial, it has proven to be very harmful. As studies show, fracturing is using an absurd amount of water to complete these wells. Not only is the amount of water usage detrimental to our water supply, but oil companies are showing no signs of slowing down. On top of the high water usage, fracturing is physically crippling our environment with the injected fluids. With over 600 different types of chemicals added intoRead MoreThe Economic Report On Fracking, Is It Worth It?1465 Words   |  6 Pagesand natural gas prices rose and fell based on OPEC’s and other large oil and natural gas producers’ production and pricing decisions. Beginning in 2005, things began to change in the US oil and natural gas industry. New technology called hydraulic fracturing or â€Å"fracking† made it possible to extract oil and natural gas from geological formations (shale) that had previously been though t to be too difficult and too costly to mine and process (Figure 1). Used in 9 out of 10 natural gas wells in theRead MoreFracking Is A Dangerous Process That Should Be Banned Immediately1328 Words   |  6 PagesHydraulic Fracturing (fracking) is the process of drilling into the ground and pumping sand, water, and fracking fluid at high pressures in order to extract natural shale gas that was previously unattainable. This process comes with environmental issues: the chemicals from the fracking fluid can contaminate nearby drinking water wells and harm the citizens of that area. Despite the fact that there have been several contaminated drinking water cases reported, there is little being done about thisRead MoreNatural Gas Is A Clean Burning Transition Fuel1141 Words   |  5 Pagesgas is extracted from shale formations underground that require horizontal drilling and hydraulic fracturing – â€Å"hydrofracking† or â€Å"fracking†. This drilling and extractio n method is currently considered a global widespread issue due to the rapid increase in the amount of new gas wells that threatens the quality of water around the source (Entriken, Evans-White, Johnson Hagenbuch, 2011). Hydraulic Fracturing is a process where high-pressure fracking fluids are forced into rich shale to extract natural

The History Of Why Photovoltaics Environmental Sciences Essay Free Essays

Energy security is one of the major challenges confronting world in the twenty-first century. It has been cited that about 20 % of the planetary population do non hold entree to electricity [ 1 ] . In add-on, it is predicted that the planetary ingestion of electricity will increase by about 50 % by 2035 [ 2 ] . We will write a custom essay sample on The History Of Why Photovoltaics Environmental Sciences Essay or any similar topic only for you Order Now For a sustainable hereafter, fulfilling the demand for energy should be accompanied with the decrease of CO2 emanations [ 3 ] by energy systems. Consequently, this brings about concerns in sing fossil fuels based systems as an option for fulfilling the turning energy demand. Renewable energy beginnings have been considered as being the solution for this uprising energy demand. Of recent, these systems have gained a batch of popularity and the energy coevals from renewables have been predicted to duplicate from 2010 to 2035 [ 2 ] . Harmonizing to some anticipations, renewables have the potency of catering for about one tierce of entire planetary electricity coevals by 2035 [ 1 ] . Photovoltaics ( PV ) is a rapid-growing market in the field of renewable energy, and this tendency is expected to go on in the close hereafter [ 4 ] [ 5 ] . Solar Energy is the most abundant and most every bit distributed renewable energy beginning worldwide. As such, PV can be considered as a major and the most promising renewable energy beginning. The advantages of PV over the conventional energy beginnings are listed below: PV systems are environmentally friendly ( C emanation free ) Solar energy has, by far, the highest natural and proficient potencies even for today ‘s engineering PV warrants long-run, care free, quiet and dependable year-round operation It can be operated as a grid connected system [ 6 ] or as an off grid system, supplying electricity even in stray parts [ 5 ] [ 7 ] Of class, these systems are accompanied with a few reverses. Main disadvantages of the PV are listed below: Large country demand Electricity coevals is limited to daytime ( it can non run at dark ) The cost of electricity generated from a PV system is still non comparable with fossil fuels, which indicates a trust on strong governmental policies [ 8 ] PV systems are classified into three depending on the photoactive stuff used and the degree of commercial adulthood: first-generation solar cells ( Crystalline Silicon ( c-Si ) ) , second-generation solar cells ( Thin Film Solar Cells ( TFSC ) ) and 3rd coevals solar cells ( Concentrating PV ( CPV ) , organic PV and fresh constructs ) . In general, an overpowering per centum of solar cells are fabricated from Si. First coevals solar cells dominate the current PV market with a portion of over 80 % of the entire PV market [ 5 ] [ 9 ] . However, 2nd coevals solar cells ( TFSC ) promise the highest possible for low cost fabrication and dependable energy beginning [ 5 ] [ 10 ] . Besides that, c-Si deficit which begun in 2005 and lasted through 2008 forced the industry to look for options, therefore the market for Thin Film PV begun to turn quickly [ 9 ] . Advantages of TFSC over wafer based solar cells are listed below: As the thickness of the semiconducting material bed is much dilutant in TFSC compared to wafer based solar cells, the recombination losingss are much less The fabrication cost of TFSC is well lower than that of wafer based solar cells [ 10 ] TFSC provides us with wider choice of stuffs compared to wafer based solar cells [ 10 ] , therefore bespeaking flexibleness of TFSC compared to c-Si solar cells However, surveies indicate that even with all these advantages the laterality of the c-Si solar cells will still stay for the coming 10 to 20 old ages unless a sudden addition in TFSC efficiencies is achieved in the close hereafter [ 9 ] , [ 11 ] . Undoubtedly, low efficiencies along with debasement over clip ( decrease in power end product ) are considered as the most influential drawbacks in the development of TFSC [ 5 ] , [ 10 ] . Surveies have shown that the levelized cost of the electricity ( LCOE ) generated by PV systems are extremely dependent on PV faculty efficiency [ 12 ] , therefore increasing the efficiency of PV systems has become an active country of research. Amorphous Si ( a-Si ) is one of the widely used stuffs in TFSC [ 9 ] , [ 13 ] . However, a-Si solar cells suffer from low efficiencies [ 14 ] which can be attributed to its set spread non being close to the optimal value ( around 1.4 electron volt ) . Besides, the thickness of the photoactive stuff in TFPV is normally really low which has a effect of take downing its light soaking up capablenesss. Extensive work on PV cells has besides been carried out over the old ages with a focal point on new stuffs and cell constellations [ 15-17 ] . Driving efficiencies up and/or cut downing cost, by technology stuffs for optimal belongingss and constellations have been the chief purpose of such researches ( ref ) . For illustration, a well-known agencie s of bettering the efficiency of a-Si TFSC is to replace a-Si with a semiconducting material like Gallium arsenide ( GaAs ) or Indium phosphide ( InP ) that has a close optimal bandgap [ 13 ] , [ 14 ] , [ 15 ] . Another attack is to implement a multi-junction solar cell [ 13 ] , [ 14 ] , [ 18 ] . However, besides those options, it is besides possible to better efficiency by heightening the light pin downing possible inside the cell [ 19-23 ] . The latter option is the chief focal point for this research. [ 1 ] IEA, â€Å" World Energy Outlook 2012, † 2012. [ 2 ] EIA, â€Å" Annual Energy Outlook 2012, † 2012. [ 3 ] G. Doucet, â€Å" Deciding the Futureaˆ? : Energy Policy Scenarios to 2050, † 2007. [ 4 ] IEA PVPS, â€Å" Trends in photovoltaic applications, † Survey study of selected IEA states between 1992 and 2011, 2012. [ 5 ] IRENA, â€Å" Solar Photovoltaics, † Renewable Energy Technologies: Cost Analysis Series, vol. 1, no. 4, 2012. [ 6 ] M. a. Eltawil and Z. Zhao, â€Å" Grid-connected photovoltaic power systems: Technical and possible problems-A reappraisal, † Renewable and Sustainable Energy Reviews, vol. 14, no. 1, pp. 112-129, Jan. 2010. [ 7 ] W. Hoffmann, â€Å" PV solar electricity industry: Market growing and position, † Solar Energy Materials and Solar Cells, vol. 90, no. 18-19, pp. 3285-3311, Nov. 2006. [ 8 ] N. Johnstone, I. Hascic, and D. Popp, â€Å" Renewable energy policies and technological invention: Evidence based on patent counts, † Environmental and Resource Economics, 2008. [ 9 ] A. Jager-Waldau, â€Å" Thin Film Photovoltaics: Markets and Industry, † International Journal of Photoenergy, vol. 2012, no. two, pp. 1-6, 2012. [ 10 ] S. Hegedus, â€Å" Thin movie solar faculties: the low cost, high throughput and various option to Si wafers, † aˆÂ ¦ in photovoltaics: research and applications, pp. 393-411, 2006. [ 11 ] R. Swanson, â€Å" A vision for crystalline Si photovoltaics, † aˆÂ ¦ in photovoltaics: Research and Applications, pp. 443-453, 2006. [ 12 ] X. Wang, L. Kurdgelashvili, J. Byrne, and A. Barnett, â€Å" The value of faculty efficiency in take downing the levelized cost of energy of photovoltaic systems, † Renewable and Sustainable Energy Reviews, vol. 15, no. 9, pp. 4248-4254, Dec. 2011. [ 13 ] R. W. Miles, â€Å" Photovoltaic solar cells: Choice of stuffs and production methods, † Vacuum, vol. 80, no. 10, pp. 1090-1097, Aug. 2006. [ 14 ] M. A. Green, K. Emery, Y. Hishikawa, W. Warta, and E. D. Dunlop, â€Å" Solar cell efficiency tabular arraies ( version 40 ) , † no. version 40, pp. 606-614, 2012. [ 15 ] J. Peet, J. Y. Kim, N. E. Coates, W. L. Ma, D. Moses, a J. Heeger, and G. C. Bazan, â€Å" Efficiency sweetening in low-bandgap polymer solar cells by treating with methane series dithiols. , † Nature stuffs, vol. 6, no. 7, pp. 497-500, Jul. 2007. [ 16 ] F. Report, â€Å" Hybrid Nanorod-Polymer Solar Cell Hybrid Nanorod-Polymer Solar Cell Final Report, † no. August, 2003. [ 17 ] I. Gur, N. A. Fromer, M. L. Geier, and A. P. Alivisatos, â€Å" from Solution, † vol. 310, no. October, pp. 462-465, 2005. [ 18 ] M. Bosi and C. Pelosi, â€Å" The Potential of III-V Semiconductors as Terrestrial Photovoltaic Devices, † no. June 2006, pp. 51-68, 2007. [ 19 ] D. Zhou and R. Biswas, â€Å" Photonic crystal enhanced light-trapping in thin movie solar cells, † Journal of Applied Physics, vol. 103, no. 9, p. 093102, 2008. [ 20 ] J.-Y. Chen, â€Å" Improvement of photovoltaic efficiency utilizing 3D photonic-crystal enhanced light caparison and soaking up, † Physica E: Low-dimensional Systems and Nanostructures, vol. 44, no. 1, pp. 43-48, Oct. 2011. [ 21 ] M. Wellenzohn and R. Hainberger, â€Å" Light caparison by backside diffraction grates in Si solar cells revisited, † vol. 20, no. January, pp. 2208-2212, 2012. [ 22 ] S. B. Mallick, M. Agrawal, and P. Peumans, â€Å" Optimum visible radiation pin downing in ultra-thin photonic crystal crystalline Si solar cells, † vol. 18, no. 6, pp. 300-305, 2010. [ 23 ] X. Sheng, J. Liu, I. Kozinsky, A. M. Agarwal, J. Michel, and L. C. Kimerling, â€Å" Efficient light pin downing construction in thin movie Si solar cells, † 2010 35th IEEE Photovoltaic Specialists Conference, pp. 001575-001576, Jun. 2010. How to cite The History Of Why Photovoltaics Environmental Sciences Essay, Essay examples

Green Day - Time of Your Life (Good Riddance) free essay sample

When prompted about a song that was important to me in high school, one song in particular comes to mind: â€Å"Good Riddance (Time of Your Life)† by Green Day. Almost anyone who has contemplated the length and depth of life can relate to this gentle song with its slow, almost yearning tone and deep lyrics. To me, â€Å"Good Riddance (Time of Your Life)† is a timeless ballad that never fails to comfort me in times of change and confusion. This song should be included in the â€Å"History of Popular Music, 1950-Present† course, not only because its deviation from normal punk rock epitomizes the struggle that Green Day faced in order to find its own sound, but also because Green Day has influenced a number of artists and epitomizes pop punk at the beginning of the 21st century. To me, Green Day’s music is pure nostalgia; every melody has latched on to a memory, bringing my awkward pre-teen years to the forefront of my recollection. Even now, I can vividly recall Google-ing as many words as I could remember from a catchy song I had heard on the radio of the school bus. A simple search for an incoherent string of words led me to the song â€Å"When I Come Around† by Green Day, which I fell in love with from the very first chord. From there, I began to search aimlessly on YouTube for more of these great songs, eventually becoming quite an avid Green Day fan myself. Green Day is an American punk rock band that was made famous by guitarist and lead singer Billy Joe Armstrong, bassist and backup singer Mike Dirnt, and drummer Tre Cool. The band originated in California, where all three band members were raised. Green Day was formed in 1987 and signed to Lookout! Records in 1988. Formerly known as Sweet Children, the band adopted the name Green Day due to their affection for marijuana. Green Day’s debut studio album, 39/Smooth, was released on April 13th, 1990 through Lookout! Records; this is the only studio album with the original drummer, John Kiffmeyer. Although it maintained relative success in the underground punk rock scene, Green Day did not experience commercial success until the release of Kerplunk, their second studio album through Lookout! Records, on January 17th, 1992. Kerplunk highlighted Billy Joe Armstrong’s raw and witty lyrics, as well as the band’s seamless rhythm, catchy choruses, and memorable riffs. Many avid fans of Green Day characterize this album as â€Å"old Green Day†, due to the magnitude of mainstream popularity of later albums; some even go as far as to say that the classification of Green Day’s genre changed as their sound did, shifting from their punk rock roots and becoming a more mainstream pop punk rock band. Astoundingly, Kerplunk has gone on to be one of the best selling independently released albums of all time. Due to their unexpected commercial success, selling 1,000,000 copies domestically and 4,000,000 worldwide, the band inevitably realized that they had reached their practical capacity with Lookout! Records. As a result, they signed with Reprise Records and released their third studio album, Dookie, in 1994. Luckily for Green Day, Dookie also became a commercial success with aid from extensive MTV airplay. The band went on to perform in many prestigious lineups such as Lollapalooza and Woodstock ’94. With Green Day’s growing reputation and popularity, Dookie was eventually promoted to diamond status. The album even went on to win the Grammy Award for Best Alternative Album as well as nine MTV Music Video Awards including Video of the Year. Because of the band’s widespread popularity, many questioned whether Green Day’s musical style truly represented â€Å"punk rock†. Among these accusations was the fact that Green Day was a supposedly punk rock band with a major record label, an ironic twist on the anarchy and independence that so many punk rock bands represent. Billy Joe Armstrong actually commented on the group’s status as a punk rock band by saying â€Å"†¦we’re this big band now. We’ve made a lot of money. We’re not punk rock anymore†¦ You can take us out of a punk rock environment, but you can’t take the punk rock out of us†. Although some avid punk rockers may argue that Green Day is not a true punk rock band, it is indisputable that Green Day created popular music that received high ratings. Green Day, along with several other bands such as The Offspring, Sublime, Rancid, and Blink-182, is widely credited for bringing the attention of mainstream popularity to punk rock in the United States, benefiting punk rock in the end regardless of technical musical classification. These bands characterized the pop punk of the mid to late 1990s. Although pop punk music has waned throughout the years, but its culture is still ubiquitous in many venues from the Vans Warped Tour to the Bamboozle Festival. Kerplunk and Dookie were responsible for the financial success of Green Day; after taking a brief hiatus, the band recorded Nimrod, which deviated from its normal styles of music. As an album, it demonstrated how Green Day had matured, but not completely lost it Nimrod was composed of a variety of different songs influenced by ska, surf rock, and punk rock, as well as the acoustic ballad – â€Å"Good Riddance (Time of Your Life)†. Thinking back, I cannot remember the music that I listened to before I began listening to Green Day; it was Green Day that sparked my general interest in music, engendering the passionate musician that I am today. I connect especially with the song â€Å"Good Riddance (Time of Your Life)† off of the album Nimrod. This ballad begins with an acoustic guitar intro followed with vocals by Billy Joe Armstrong. He describes a common situation in life that almost everybody can relate to. â€Å"Another turning point; a fork stuck in the road. Time grabs you by the wrist, directs you where to go. † The word choice used establishes a sense of connection between the artist and the audience, both of which have encountered the futility of fighting time and its direction; it is a timeless dilemma that we all face. â€Å"So make the best of this test and don’t ask ‘Why? ’† Billy Joe Armstrong proposes that the solution to the melancholy we face from leaving something or someone behind is to simply make the best of the situation that one is in without questioning it. He advises that one should cherish the moment as well as the good times one has had, and then move on to the next chapter of one’s life. â€Å"It’s not a question, but a lesson learned in time. It’s something unpredictable, but in the end is right. I hope you had the time of your life. † When Armstrong says â€Å"it†, he is referring to the question â€Å"why? † previously stated. The chorus of the song is composed of the last two lines, which soon became the mantra of my being. He is essentially saying that instead of going through life repeatedly asking â€Å"why? †, one should just take things as they come to figure out â€Å"why? †. At the end of the chorus, Billy Joe Armstrong expresses his hope and assurance that the audience will â€Å"have the time of their lives†, purely from their optimistic mindsets. The song demonstrates the cycles of life and how they tend to repeat themselves, based on our perception and experiences. I believe that the main point Billy Joe Armstrong is trying to get across to his audience is that the mindset we have in life is often the only control we have over the magnitude our contentment; the fickle nature of life allows us to take the guesswork out of life, leaving mindless comfort. Whenever I had a doubt in life, whether it was about sports, girls, or college, I would just listen to this song to remind myself about the uselessness of fighting what has already happened. Through this song, I have come to realize that the quality of one’s life is merely the result of how one perceives the events and environment surrounding him or her; the richest man is not the one with the most possessions, but the one who cherishes life the most. I admit that this was a very difficult concept to grasp during my tender pre-teen years. However, as I grew and matured, the lyrics became more and more relatable, proving just how timeless this song truly is.