One word substitutes

SN	One word	Description
1.	Anarchist	One who is out to subvert a government
2.	Convalescent	One who is recovering from illness
3.	Omnipotent	One who is all powerful
4.	Omnipresent	One who is present everywhere
5.	Omniscient	One who knows everything
6.	Gullible	One who is easily deceived
7.	Infallible	One who does not make mistakes
8.	Mercenary	One who can do anything for money
9.	Pauper	One who has no money
10.	Turncoat	One who changes sides
11.	Volunteer	One who works for free
12.	Bibliophile	One who loves books
13.	Bilingual	One who can speak two languages
14.	Philanthropist	One who loves mankind
15.	Misanthrope	One who hates mankind
16.	Optimist	One who looks on the bright side of things
17.	Pessimist	One who looks on the dark side of things
18.	Agnostic	One who doubts the existence of god
19.	Hypocrite	One who pretends to be what he is not
20.	Indefatigable	One incapable of being tired
21.	Samaritan	One who helps others Good
22.	Plagiarist	One who copies from other writers
23.	Misogynist	One who hates women
24.	Polyglot	One who knows many languages
25.	Epicure	One who is fond of sensuous pleasures
26.	Egoist	One who thinks only of himself
27.	Feminist.	One who thinks only of welfare of women
28.	Stoic	One who is indifferent to pleasure or pain
29.	Effeminate	One who is quite like a woman
30.	Eccentric	One who has strange habits
31.	Reticent	One who speaks less
32.	Pedestrian	One who goes on foot
33.	Fatalist	One who believes in fate
34.	Intestate	One who dies without a Will
35.	Valetudinarian	One who always thinks himself to be ill
36.	Democracy	A Government by the people
37.	Monarchy	A Government by a king or queen
38.	Bureaucracy	A Government by the officials
39.	Plutocracy	A Government by the rich
40.	Oligarchy	A Government by the few
41.	Aristocracy	A Government by the Nobles
42.	Autocracy	A Government by one
43.	Mobocracy	Rule by the mob
44.	Transparent	That through which light can pass
45.	Opaque	That through which light cannot pass
46.	Translucent	That through which light can partly pass
47.	Ambiguous	A sentence whose meaning is unclear
48.	Orphanage	A place where orphans live
49.	Indescribable	That which cannot be described
50.	Inimitable	That which cannot be imitated
51.	Inevitable	That which cannot be avoided
52.	Honorary	A position for which no salary is paid
53.	Indefensible	That which cannot be defended
54.	Polygamy	Practice of having several wives
55.	Polyandry	Practice of having several husbands
56.	Monogamy	Practice of having one wife or husband
57.	Bigamy	Practice of having two wives or husbands
58.	Improbable	That which is not likely to happen
59.	Contemporaries	People living at the same time
60.	Posthumas	A book published after the death of its author
61.	Anonymous	A book written by an unknown author
62.	Autobiography	A life history written by oneself
63.	Biography	A life history written by somebody else
64.	Colleagues	People who work together
65.	Glutton	One who eats too much
66.	Insatiable	That which cannot be satisfied
67.	Cynic	One who questions everything
68.	Carnivorous	A flesh eating animal
69.	Herbivorous	A grass eating animal
70.	Immigrant	One who lives in a foreign country
71.	Delegate	To transfer one's authority to another
72.	Neophyte	One who is a newcomer
73.	Legal	That which is lawful
74.	Illegal	That which is against law
75.	Celibate	One who is unmarried
76.	Draw	A game in which no one wins
77.	Anthropology	A study of man
78.	Ethnology	A study of races
79.	Physiology	A study of the body
80.	Zoology	A study of animals
81.	Ornithology	A study of birds
82.	Archaeology	A study of ancient things
83.	Etymology	A study of derivation of words
84.	Homicide	Murder of a human being
85.	Patricide	Murder of a father
86.	Matricide	Murder of a mother
87.	Fratricide	Murder of an brother
88.	Infanticide	Murder of an infant
89.	Suicide	Murder of self
90.	Regicide	Murder of the king
91.	Exonerate	To free somebody from all blame
92.	Pseudonym	To write under a different name
93.	Obsolete	A thing no longer in use
94.	Illegible	A handwriting that cannot be read
95.	Epitaph	Words written on the tomb of a person
96.	Avaricious	One who is greedy for money
97.	Inimitable	Something that cannot be imitated
98.	Illiterate	One who doesn't know how to read and write
99.	Idiosyncrasy	A person's peculiar habit
100.	Predator	An animal who preys on other animals

LINE HAUL COST – LHC

LINE HAUL COST – LHC

Ø  Meaning:  Activity of actual haulage of the Wagon or consignment from the ORIGINATING to DESTINATION station.

Ø  Means expenses incurred in the haulage/transport between the First and Last Marshalling Yard in movement of Wagons/consignments.

Ø  LHC includes   -  A) Traction/Fuel cost  B) Other transportation cost (staff etc) & C) Track & Signaling cost

Ø  LHC excludes – A) Marshalling  B) Transshipment & C) Repacking

Ø  The importance of LHC is, it is one of the components for arriving total cost of transportation of passengers and freight.  Thus LHC plays a major role in revising the fares of Indian Railways.

Ø  It is calculated for every 1000 GTKM  (Gross Tonne Kilo Meter)

Ø  It is calculated separate for Traction & Diesel. Also calculate separate for Coaching and Goods.

Ø  LHC of various Zonal Railways shows no uniformity.  The huge variation may be on account of various reasons such as pricing of fuel/ traction, HRA of staff etc. 2012-13 year data of LHC of Zonal Railways is as follows.

2012-13 year data per 1000 GTKMs
Zonal Railway	LHC-Diesel	Remarks
Eastern Railway	Rs.444.41	Highest
East Central Railway	Rs.226.03	Lowest
Indian Railways as a whole	Rs.314.40	Average

2012-13 year data per 1000 GTKMs
Zonal Railway	LHC-Electrical	Remarks
East Central Railway	Rs. 425.17	Highest
North Central Railway	Rs. 109.28	Lowest
Indian Railways as a whole	Rs.167.05	Average

Ø  Such wide variations among Zonal Railways in respect of LHC should be investigated and the suitable corrective measures should be taken.

Ø  Costing analysis should be done duly comparing the LHC of various Railways to pinpoint the wastage/obsolete expenses.

Ø  In terms of Line Haul Cost (Summary of End Results 2015-’16), electric traction is cheaper by about 47% for freight traffic & 50% cheaper for coaching traffic, as compared to diesel traction. This is evident from table given below:-

LHC (In Rs.) per 1000 GTKMs (2014-15 year)
Freight		Coaching
Diesel	Electrical	Diesel	Electrical
265.09	139.65	373.51	186.08

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LCC - Life Cycle Costing

L C C - LIFE CYCLE COSTING

(Important 5 marks/10 marks question in  Management Accounting Section of LDCE.)

Ø  Also called as "Cradle to Grave Costing"  or " Womb to Tomb Costing" or "Whole Life Cost"

Ø  If considers definition and concept of LCC, the substitute names as referred above are perfect ones.

Ø  Definition:  Sum of all Recurring ( Revenue) and Non-recurring (Capital) costs over the Full Life period of a goods, services/system etc. That means a method of calculating the Total cost of a physical asset throughout its life i.e., costs incurred from its purchase to its disposal, incl: design, installation, operating and maintenance costs (through out life period of asset).  But Depreciation will not be taken into the account of such Total cost.

Ø  LCC includes: A) Purchase/Acquisition price  B) Installation and other associated costs  C) Maintenance/operating costs  D) Salvage value (deduct one).   All these costs usually discounted and totaled to a PRESENT DAY VALUE known as NPV - NET PRESENT VALUE.

Ø  Beginning phase of LCC:  In USA for procurement of Defense equipment in the year 1960

Ø  Simple illustration:  The organisation wants to buy an Machinery.  It called for tenders and the offers were as follows.

Machine A -  Initial Cost -Rs.1,00,000,  Maintenance costs -Rs.10,000 per year. Life -10 Years

Machine B - Initial Cost - Rs.75,000,  Maintenance costs - Rs.15,000 per year. Life  - 10 years

Note: Both Machine A & B are as per organisation's specifications and requirements.

Decision under Conventional system:  Machine B will be finalised because, the initial cost is 75,000 is less than Machine A's initial cost Rs.1,00,000.

Decision under LCC:    Machine A will be finalised.  Because the LCC of Machine A is less than Machine B as shown  below.

A.   The Life Cycle Costs of Machine A :  Rs.1,00,000 + Rs.1,00,000 ( Maintenance costs -10 years @ Rs.10,000 ) = 2,00,000

B.     The Life Cycle Costs of Machine B:    Rs. 75,000  + Rs.1,50,000 ( Maintenance costs - 10 years @ Rs.15,000)  = Rs. 2,25,000

Note:  Here Time value of money or NPV is not considered for the sake of brevity. Otherwise these too will be taken into the account before arriving the decission.

Ø  Advantages:

1. Costs incurred after an asset has been constructed or acquired, such as maintenance, operation, disposal become an important consideration in decision making.

2. Previously, the focus has been on the up-front capital costs of creation or acquisition and failed to take account of the maintenance and operating costs.

LCC & Indian Railways

ü   Indian Railways employs LCC while procuring the Box N Wagons (life 35 years) and Energy intensive products.

ü  Ministry of Railways have constituted a Committee of Executive Directors to identify TWO ITEMS each of Engineering, Electrical, Mechanical and S & T Depts for undertaking their procurement on LCC basis and to examine various issues involved in adopting LCC.

ü  The Committee identified EIGHT ITEMS subject to

1.    The functional specifications & minimum technical parameters for any item procured through LCC basis should be specified by RDSO.

2.    INTER-DEPENDANT ITEMS (Example ERC & Rail pad) should preferable have similar life cycle.

3.    Railways may like to include more safety related items for procurement on LCC  basis, which have maximum anticipated life of 8 years to start with.

4.    20 % of the total requirement may be procured on trial basis by each Zonal Railway on the basis of LCC.

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