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The purpose of this study is to quantify the impact of Ramadan on both the level and the growth of global raw sugar price.

The study uses a dummy and a fractional variable to capture Ramadan to overcome the asynchronicity of time between Ramadan fasting (which is based on the Islamic lunar calendar) and the movement in prices (which follows the Gregorian solar calendar). To capture the seasonality of sugar production, the data on sugar price span 34 years so that the Islamic calendar makes a complete cycle of the Gregorian calendar. The empirical model is estimated using both autoregressive integrated moving average model and unobserved components model.

The results show that monthly raw sugar prices in the global market increases by roughly 6.06 per cent (or $17.78 per metric ton) every year ahead of Ramadan.

The study illustrates the implications of the results for the consumption of imported sugar in Bangladesh.

The study uses a broader set of Ramadan indicators in its empirical models and checks the robustness of its baseline model using the unobserved components model. It also performs seasonal unit root tests on the global raw sugar prices.

In this chapter the development of new sugarcane varieties in Florida and Louisiana is examined, along with the accompanying advancement in mechanization technology through the widespread adoption of sugarcane harvesters. An econometric analysis is carried out to determine the impact of the price of raw sugar on raw-sugar yields in Louisiana and Florida. This study found that in the case of Louisiana, the 3-year lagged US raw-sugar price had a positive and significant impact on sugar yields. The change in raw-sugar prices did not have a significant impact on sugar yields for the Florida industry. Sugar production has increased over time, in part, due to the development of new sugarcane varieties accompanied by modern sugarcane harvesters. Given the relationship between price and yield, particularly in Louisiana, policy makers and producers must be mindful of the potential impact of policy-induced research and development (R&D) on the competitiveness of their industry.

Examines the impact of the sugar tariff‐rate import quota programme on the United States economy. Uses a computable general equilibrium model composed of 14 producing sectors, 14 consuming sectors, six household categories classified by fincome, and a government. Examines the effects of abolishing the tariff‐rate import quota on sugar prices and quantities. Suggests that a complete elimination of the sugar programme would result in lower output by all producing sectors (by about $2.85 billion) but, for all producing sectors besides the agriculture programme crops, crude oil, and petroleum refining sectors, output would actually increase (by about $2.98 billion). There would also be an increase in the consumption of goods and services (by about $197 million), and an increase in welfare (by about $121 million). The government would realize a reduction in revenue of about $15 million. When subjected to a sensitivity analysis, the study′s results are reasonably robust with regard to the assumption of the value of the own‐price elasticity of demand for sugar – i.e., while the model′s equilibrium values do vary in response to different assumptions of the values of this elasticity, the fluctuations are not so enormous as to suggest that the model is unrealistically sensitive to these parameters.

One of the most important principles that accountants apply when determining trading profit is the matching of costs against related revenues—a principle that in practical terms requires the identification of those costs incurred prior to and during the accounting period under review which have to be charged against the revenue brought into the profit and loss account and those which have to be carried forward as a charge against the revenues of future accounting periods. In the case of manufacturing and trading enterprises many of the problems associated with this matching process arise in relation to the valuation of stocks and work in progress. Expenditures incurred in bringing these stocks of raw materials, work in progress and finished goods to their present state at the balance sheet date, after taking into consideration the possibility of deterioration, pilferage, obsolescence and factors of a similar nature, are treated as a charge against the revenues of future accounting periods and are accordingly carried forward in the balance sheet under the classification of “current assets”. It is thus that the values ascribed to trading stocks become a key factor in determining the trading profit for the period. It is not surprising, therefore, that the methods of valuing stocks and work in progress should have formed the subject of one of the most significant of the Statements of Standard Accounting Practice that have been issued by the Accounting Standards Steering Committee under the sponsorship of the major accountancy bodies. Even less surprising is the strength of feeling that has been aroused by some of the views expressed by individuals and organisations in giving evidence to the ASSC and to the Sandilands Committee, which has also been considering the problems of stock valuation in relation to its inquiry into inflation accounting. In this article the finance director of Tate & Lyle Limited argues the case for the “base stock” method of stock valuation. Although this method has a limited range of applications and is not widely used, it has got valid arguments in its favour in certain circumstances—despite failing to find favour with the ASSC in its Statement of Standard Accounting Practice No. 9. He contends that for his company to use the “first in—first out” method that finds favour with many accountants as an “all purpose” basis, the outcome would be to produce trading results that bear little reality to the true position.

This paper seeks to examine the impact of various socio‐economic factors on the viability of sugar production by focusing on the technical efficiency of farm performance.

The examination is undertaken by empirically estimating the random coefficient production frontier using farm level data. The paper uses Fiji as a case study.

In general, farmers produced 25 per cent less than their potential output. Among the farm inputs, land (labour) was the most (least) efficiently used input. Empirical evidence also suggests that large‐scale farming should be seriously considered by amalgamating land leases. Lastly, sugar reform can be successful with the use of appropriate best farming techniques to improve cane yield, and if there is successful expansion of sugar‐related products.

This is the first attempt to estimate the random coefficient frontier model that enables the examination of overall technical efficiency of the farm as well as input‐specific technical efficiency for improved policy formulation.

This paper aims to evaluate the collaboration quality performance of sugar company Z and its stakeholders (farmers and distributors) by considering the sustainability aspects. This assessment shall be able to integrate qualitative and quantitative factors in the model, which is critical in sugar supply chains involving multi-stakeholders.

Integration of quality function deployment (QFD), the fuzzy analytical network process (FANP) and the data envelopment analysis (DEA) is administered to assess the efficiency score of each stakeholder involved. The evaluation encompasses collaboration behaviour factors since the input of collaboration activities will result in sustainability aspects such as revenue, green house gas (GHG) emissions and social impact. The analysis has been conducted in two scenarios, those are the basic scenario by utilising original data and the extended scenario by using projection data.

The result clarifies that the most influential behaviour factor in the collaboration activities is commitment (0.116), while the least important behaviour factors are power (0.008) and adaptation (0.008). Furthermore, by using the extended scenario, the overall efficiency for each benchmarking is higher compared to the condition before the improvement (basic scenario).

The result of this study is only relevant to the particular sugar supply chain and involving limited sustainability variables. Therefore, in a further study, more variables such as technical and financial aspects could be explored further in the assessment process.

The result of this study is available for each stakeholder and can be fundamental for the constant improvement in sustainable supply chain (SSC) practices. It shows that an improvement of one stakeholder will positively impact the entire system.

Smallholders and sugarcane farmers will recognise the significance of collaboration behaviour. Thus, they can enhance their mutual benefits by using the existing resources.

This paper arranges for a practical contribution by implementing advanced assessment methods in the sugar supply chain by taking into account the economic, environmental and social aspects. This comprehensive assessment process in the sugar supply chain is the novelty of this paper.

Capital Expenditure—What is Plant? The rates of the allowances for capital expenditure given to businesses as a deduction from taxable profits vary according to the nature of the expenditure to which they relate. Where it can be classified as plant and machinery a more generous rate applies than is given for other categories of expenditure.

Money laundering is defined as the process by which illicit money is made to appear licit. It is an essential element of any cash generating criminal venture. The manner in which money is laundered is limited only by the breadth of the imagination of the launderer. The focus of this paper will be to provide an overview of the issues surrounding money‐laundering enforcement; outline new schemes in use to launder illicit proceeds; detail the elements of an effective anti money‐laundering compliance programme and list the geographic hot spots where money‐laundering risks are the most extreme.

The purpose of this paper is to revisit the growth mechanism of Indian sugar industry by deploying quantitative and qualitative metaphors.

The research paper has been composed through comprehensive primary research survey using a structured questionnaire, and qualitative discussion following semi- structured interviews with industry professionals on emerging issues across the whole value chain of sugar industry. Respondents regarding primary survey were selected using the purposive sampling, and this collected quantitative information has been verified on the lenses of multiple stream modelling (MSM).

To support the data analysis, MSM – a policy-making framework has been developed which found that government being a central construct exerts a profound presence across whole value chain; in suppliers’ mechanism, marketing of sugar and sugar mills’ infrastructural expansions. Nationwide uniformity in sugar policy instead of states’ monopolistic policies, rational and mutual benefits-based decisions collectively by the government, mills management and sugarcane growers, and diversification in production processes are enumerated as the proposed solutions against the chronical industry problems.

This study enriches extant Asian sugar industry literature. For policymakers, the proposed results should be of help in identifying specific policies to support the competitiveness of local systems and individual manufacturing companies in the Indian sugar industry suggesting that the development of growth mechanisms can contribute simultaneously to improve the financial, market and operational performance of both individual firms and supply chains.

Cyclicality in production, rising sugarcane farmers’ problems and resulting severe financial distress of mills are some of the topical issues of Indian sugar industry, and the study has explored these issues factually, quantitatively and qualitatively in proximity of industry professionals and described in this depository with the help of document analysis.

This paper aims to assess how Sharīʿah guidelines improve the working capital needs of the Indian sugar industry. Previous studies reveal that the sugar industry in India is in a state of cash deprivation for decades. Finance is not available for expansion, as well as for working capital requirements. Banks have also declined to provide working capital loans to the sugar industry.

Lack of working capital management and its impact upon sugar mills profitability are examined based on a sample of six Indian sugar mills and the use of panel data analysis for the period 2011-2015.

The regression results suggest the need for reducing the number of days’ account receivables and inventories to a reasonable minimum to maintain the liquidity necessary for the mills, which current mills cannot manage to achieve, and consequently, suffer liquidity problems.

This paper presents a model of Sharīʿah-compliant working capital financing for cash deprived Indian sugar industry. All the three parties stand to benefit from this arrangement: the farmer will get the price of his crop promptly and at its farmland, sugar mill will secure the required quantity of raw material (sugarcane) without any immediate cash outflow, and the Islamic bank will earn a reasonable mark-up profit from this transaction.

The study is the first comprehensive effort to explore the possible combination of Islamic banking products subject to the fulfillment of needs of sugar mills and farmers and the application of an Islamic banking instrument in the agriculture sector of India. It also suggests the possible models for financing under a Salam and Murabahah contract.