...8.3: Burlingham Bees Using Analytical Procedures as Substantive Tests Using Analytical Procedures as Substantive Tests 1. The requirements related to developing an expectation and conducting analytical procedures when those procedures are intended to provide substantive evidence is provided by the reorganized Audit Standard 2305 Substantive Analytical Procedures effective December 31, 2016 in the following list: a. “Analytical procedures are an important part of the audit process and consist of evaluations of financial information made by a study of plausible relationships among both financial and nonfinancial data. Analytical procedures range from simple comparisons to the use of complex models involving many relationships and elements of data. A basic premise underlying the application of analytical procedures is that plausible relationships among data may reasonably be expected to exist and continue in the absence of known conditions to the contrary. Particular conditions that can cause variations in these relationships include, for example, specific unusual transactions or events, accounting changes, business changes, random fluctuations, or misstatements (Public Company Accounting Oversight Board, AS 2305.02).” b. “Analytical procedures are used as a substantive test to obtain evidential matter about particular assertions related to account balances or classes of transactions. In some cases, analytical procedures can be more effective or efficient...
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...Name of the Assignment Xylocopa Sp around the world Introduction The genus Xylocopa (in the subfamily Xylocopinae) is commonly known as ‘Carpenter Bees’ and one of the large bees distributed worldwide. It consists near about 500 species in 31 subgenera. The word ‘carpenter’ comes from the fact that nearly all of its species use dead wood, bamboo, or structural timbers to build their nest. Associated members of the related tribe Ceratinini are often referred to as ‘small carpenter bees’. Taxonomy In 1802, the genus was described by French entomologist Pierre André Latreille. The name was derived from the ancient Greek word xylokopos which had a meaning of ‘wood-cutter’. Characteristics The females of several species live along with their own daughters or sisters and create a small social group. They employ wood bits to form partitions between chambers in the nest. But some species are not interested in making holes in wood dwellings. Although many species are known to rob nectar by slitting the sides of flowers with deep corollas, the species of Xylocopa can be important pollinators on open-faced flowers. In the United States, there are two eastern species: Xylocopa virginica and Xylocopa micans. On the other hand, Xylocopa varipuncta, Xylocopa tabaniformis orpifex and Xylocopa californica are the names of three other species that are primarily western by distribution. X. virginica is a widely distributed species. Some species are often mistaken for...
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...Bzzzzzz bzzzzzz bzzzzzz bzzzzzzz BEES! They are everywhere! Now one common misconception of bees is that they are violent, scary creatures that are out to sting you. I myself have a terrible fear of bees. They freak me out. But after doing a lot of research on bees I have learned that there is lot more behind the stinger. So I am going to borrow a few minutes of your time to inform you on all the amazing things that make bees so remarkable and why they are so fascinating. I am going to talk to you about how their jobs provide for other bees in the colony, second I am going to talk to you about how they communicate with other bees, and then lastly I am going to talk to you about their flight and how powerful it is. So first of all bees are never alone because they are part of a colony. According to the New York Times, the jobs for bees are divided into two categories; the age of the bees and the gender. In terms of age, if you are a younger bee you will be taking care of the queen, you will be catering to the queen and all of the services the queen needs. If you are an older bee your job is to protect and build the hive and collect nectar and pollen. In terms of gender, if you are a female bee, you’re actually a worker bee. The female bees will fly out of the hives and they are the only ones that are going to collect nectar for the hive. If you are a male bee on the other hand your job is quite different. You simply protect the bee hive and fertilize the eggs of the queen...
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...I. Find the word that has its underlined part pronounced differently from the othe three in each question 1. A. would B. should C. shoulder D. could 2. A. lose B. chose C. close D. rose 3. A. missed B. washed C. hoped D. removed 4. A. retreat B. thread C. peanut D. defeat II. Find the word with the stress pattern different from that of the other three words in each question 5. A. Competent B. computer C. compliance D. commuter 6. A.industrial B. experiment C. accidental D. professional 7. A. actually B. accurate C. satellite D. political 8. A. bookstore B. between c. theater D. superman III. Identify the one underlined word or phrase that must be changed in order for the sentence to correct. 9. Different species of octopuses may measure anywhere from two inches to over A B C thirty feet in long. D 10. When rainbows appear, they are always in the part of the sky opposite directly A B C D the Sun 11. A citadel, a fortress designed for the defense of a city, unusally standed on top A B C D of a hill. 12. Many people who live in New York city thinks that life in a large city offers A B C D special advantages 13. The scientific revolution of the early 1900’s affected education by change the A B C nature of technology. D 14. On May 20,1932, Amelia Earhart became the first woman fly solo...
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...------------------------------------------------- International Integrated Reporting ------------------------------------------------- －The Clorox Company JWM 02-15-2014 * Background of Clorox Company Clorox is a global company, which is based on Oakland, California. The Company has leading brands that have become household names, such as the Clorox bleach and cleaning products, Green Works naturally derived cleaning products, Ayudín and Poett home care products, Brita water filtration products, and Burt's Bees natural personal care products. Clorox manufactures products in more than two dozen countries and market them in more than 100 countries (Company, 2013). On May 3, 2013, Clorox celebrated its 100th anniversary, which showed the company provided the products and services to customers for a century. It has more than 8,400 employees worldwide, and the net sales of the company in 2013 are $5.6 billion, which is the No. 361 on Fortune 500 list (Our leadership, 2013). The mission of the company is to make people everyday life better. Because of that mission, the company creates many strategies to improve the products and services. In 2008, the Clorox Company released and developed a natural cleaning line and Green Works that created environmental friendly. In 2011, the Clorox Company became an early adopter of a corporate trend to integrate corporate social responsibility reporting with financial reporting. Before adopting an Integrated Reporting format, the...
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...head: BURT’S BEES MOVING DECISION1 Roxanne Quimby Case: Burt’s Bees Moving Decision Katherine J Kelley University of Mary Abstract Burt’s Bees is an American natural personal care products subsidiary of Clorox, originated in 1984 in Dover-Foxcroft, Maine as a partnership between Roxanne Quimby and Burt Shavitz making and selling items out of leftover beeswax. Over many years, they built the business into Burt’s Bees, which was a leading natural personal-care brand. In 1993, the business had reached $3 million in sales and Quimby was convinced moving to a new location would bring new advances to the business. That’s when she started to seek out locations that were more business-friendly. Its headquarters moved from Maine to Creedmoor, North Carolina. Over many years, they built Burt’s Bees to offer over 100 natural personal-care products in 4,000 locations with sales growing more than $8 million in addition. Growing out of their 18,000-square-foot factory, they moved once again to Durham, North Carolina. In 1999, Quimby bought out Shavitz’s stake in the company. In 2004, Quimby sold Burt’s Bees to AEA Investors for 80% of the company for $173 million. She would continue to stay on as the CEO of the company. They continued to build Burt’s Bees to offer over 197 products for facial and body skin care, lip care, hair care, baby care, men’s grooming, and outdoor remedies in nearly 30,000 locations. In late 2007, Clorox Company acquired Burt’s Bees for $925 million...
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...1. Develop a brand positioning map using the information in the case. In a 2x2 map, plot the different brands including Burt's Bees on what you consider to be the two important/relevant attributes for consumers in this category. Two relevant attributes for consumers in this category are types of product ranging from natural and pseudo-natural to traditional, and brand usage or awareness. Consumers can make the decision based on what they prefer- natural products cost higher than traditional; however, some people would prefer reasonably priced products regardless of their ingredients. Brand usage indicates how the brand is popular among consumers as consumers would rather spend on brands that they can trust rather than the ones that may use natural ingredients but have failed to convey their value proposition to the consumers effectively. Basically, if the consumers’ perception of the overall brand is positive, they would buy the brand. However, consumers need to have strong brand awareness to have the positive perception about the value proposition and image of the brand. 2. What are the sources of Burt's Bees' brand equity? Utilize concepts from the course. Use facts from the case to support your position. Brand awareness and brand image contribute towards strong brand equity. As Burt’s Bees want to enter the mass market, one needs to consider the brand awareness of brands such as Dove and Olay. These brands are known for their traditional products and rank high on...
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...problems ihat inspired this raove. ln Moine, Buri's Bees would probobly never grow over $3 million in soles, ond Quimby feh it hod potentiol for much more. substonfiolly? Whoi is ihe difference between an ideo ond on opportunify? For whom? Whot con be leqrned from Exhibits C ond D? Roxunne Ouimby 4 Why hos fte compony succeeded so fqr? The Blcck Sheep 5 Whqt should Roxonne snd Burt do, ond why? "l wos o real blqck sheep in my fomily," Quimby soid. gool fcr the first year vws $ /0,000 in totol sales. / fgured i{ / cou/d tctke hcne holf o{ tho; it would be more money f/tan /C ever seen. Our Roxonne Quimby She hed one sisier who worked for AMEX ond another sister who worked for Chsrles Schwqb, ond her {qther worked for Merrill Lynch. She was not interesbd in business ol oll, though, qnd considered it dull. Quimby aftended ihe Ssn Froncisco Art lnstitute in the fate l96Os " ond "got rodicslized out there," she exploined. "t stud" ied, oil poinled, ond groduoled without cny iob Roxqnne Quimby sct in fhe president's office of Burf's Bees' newly relocobd mcnufocturing facility in Roleigh. North Cqrolino. $he wqs surrounded by unpocked boxes ond silence from the unrnoving mochines wiih no one there lo operole them. Guimby looked oround ond osked herself, "Why dtd I do this?" She felt lonely ond missed Msine, Burt's Bees' previous home. Quimby hod founded snd built Buri's Bees, o rnqnufscturer of beeswsx-bqsed personol...
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...Burt’s Bees Has Buzzed its Way to the Top of the Natural Care Product Market Kelsey Morales, Madeleine Tessier, Kelsey Rosentreter TABLE OF CONTENTS Table of Contents…………………………………………………………………………………………..…….…..2 Thesis Statement………………………………………………………………………..……………….…..….……3 Introduction to Burt’s Bees History…………………………………………………………………...….……..…4-5 (Kelsey Morales) Burt’s Bees is a Green Company…………………………………………………………...…….…...….………5-6 (Kelsey Morales) Charity and Giving back to the Community……………………………………..………………………….………6 (Kelsey Morales) Clorox Takes over Burt’s Bees Ownership…………………………………………………...……….…………6-7 (Kelsey Rosentreter) The Current Company Structure…………………...…………………………….…………………….……………8 (Kelsey Morales) Steps of Product Production…………………………………………………….…………………………….……..8 (Kelsey Rosentreter) Product Mix……………………………………………………………….........................................................8-10 (Madeleine Tessier) Packaging…………………………………………………………………………………………………………10-11 (Madeleine Tessier) SWOT Analysis …………………………………………….……………………………………………………11-12 (Kelsey Rosentreter) Conclusion………………………………….………………………………………………………………….…12-13 Bibliography…………………………………………….………………..………………………………….……14-15 Thesis statement: Burt’s Bees is an earth-friendly personal care product company that specializes in 100% natural products. They offer many different product lines and are sold in a variety of stores, both locally and internationally. . In this research report we will demonstrate...
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...In order to sale our products we must first figure out who our customers are and who will buy our product. We must identify our target market and target the business marketing efforts on them. We will be going over some customer segments and selecting a target market that would be interested in our products. The products that we will be selling are Clorox Green Works all natural cleaning products. Name of Customer Segments I decided to go with the Young Accumulators. The customer segments that are included are the following: • Upward Bound • Beltway Bloomers • Kids & Cul-de-sacs • Fast Track Families • American Dreams (Nielsen, 2013). There are many reasons why I decided to go with this target market. This target market have mid- sized homes and large families. They enjoy outdoor sports, kid friendly technology and adult toys such as campers, motorcycles and boats. They enjoy cable network that are targeted to children and teenagers. They are ethnically diverse and a young crowd. Their median household income is around 70,627 (Nielsen, 2013). The Product that we will be selling to our target market is Clorox Green Works all natural cleaning products. These products are natural and free of harsh chemical fumes or residue. It is a great product that will clean your worse messes while being safe and nontoxic. Why This Particular Customer Segment is interested in Our Products We believe that this target market will purchase and enjoy our Green Works all natural...
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...the Burt's Bees website, their history is a lot of "minding their own beeswax." Roxanne Quimby relates how she struggled to support her three children by "buying low and selling high at flea markets" and how Burt was similarly just getting by, selling the honey his bees produced from the back of his pickup truck. One day, Burt showed Roxanne that he had been storing all his beeswax in a shed, thinking he'd "get around to" using it for "something" one day. The pair decided Roxanne could make candles from the wax, and after making $200 at one county fair selling beeswax candles for $3 a pair, the duo knew they were on to something. They rented an old one-room schoolhouse from a friend for $150 a year, which gave Roxanne and her children somewhere to live other than a tent, and also became the "corporate headquarters" of the now successful Burt's Bees. Although Roxanne insists that, other than Burt buying a classic motorcycle with his earnings, nothing much has changed at Burt's Bees, the company certainly has a sterling international reputation as an all-natural, sustainable brand. The emollients in natural beeswax, the lack of artificial chemicals, the simple, not-at-all-flashy packaging, the decent prices, all make Burt's Bees a favorite, especially for quality lip balm. The company remains small and "nimble" with a fanatic devotion to environmental causes and "reducing, reusing, and recycling." Over half of the over 150 products available from Burt's Bees are 100%...
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...Burt’s Bees Case Questions 1. Burt’s Bees does definitely differentiate from its competitors by it pricing strategy. Often a company’s pricing strategy is to offer a lower price than its competitors for a contrastable product because a lot of people think “the lower the better”. Burt’s Bees does the exact opposite. It is their purpose to get attention by having striking high prices. By that they make the customer curious and make him to inform more about that product. The customer realizes that Burt’s Bees sell mostly natural and green products and that meets a lot of today’s people’s values. So somehow the high prices are also legit as they have a higher value then competitors’ products. 2. Burt’s Bees has executed a value-based pricing strategy. Their products on the lip balm market for example differentiates itself from competitor’s products by supporting a natural and ecofriendly value a lot of people appreciate and they are sometimes willed to pay more for the product included the additional value. 3. Burt’s Bees nowadays has a lot more of products in its portfolio then just wax based lip balm. But all of these products (most of them are in the personal care market) claim to be very natural and the prices are all set noticeable higher than competitors products. The company maintains a commitment that they mostly use natural ingredients and they have the 99 percent average in natural products. After the acquisition by Clorox the Burt’s Bees Company was allowed...
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...“Executive Summary” Little Bumble Bees Daycare facility will operate as sole proprietorship and is located on the corner of North six street in Hopewell, Va. Our daycare facility is a full service child facility that offers 24 hours/ 7days a week care, with the exception of holidays. We offer services for children 3 months to 12 years of age. The Little Bumble Bees Daycare Facility will be focusing on the middle to upper class market. This group of families has both parents working, not allowing them time to raise their child during the day. This group has the money for child care, and is willing to spend a little extra to get a higher level of care. Our staff have specialize training in child care providing services, first aid, and CPR. Little Bumble Bees Daycare Facility has innovative learning systems and facility has small classes for pre-K students, for more one on one learning in the class. Employees are expected to wear scrub type uniforms while they are on the clock; street wear is not permitted while on the clock. There will be five classrooms rooms in the facility with chairs, desk, blackboard, and etc. Our mission is to provide a safe and fun learning environment for our children. We take pride in our center and focus on meeting each individual child and family needs, while providing quality, safety, and reliable child care. The market that we want to target is one specific customer group, the middle to upper class, two income professional families. This...
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...Executive Summary lndustry Overview The college bookstore market can be divided into two major segments, four-year traditional schools and two-year non-traditional community, technical and junior colleges. In total 14 million students will enroll in these 4500 institutions this year, and this number is estimated to grow to 16 million over the next ten years. It is also estimated that $90 billion represents college student spending, and of that 23% is non-essential. Students at four-year schools are insulated in avery enclosed environmen! typically attend full-time and attend from age 18-22. Students at two-year schools typically attend part-time, commute to school and are 29 years in age on average. Each type of school represents 50Yo of the college bookstore market. Buyers will use reps and distributors as well as buy from a company direct. Reps commissions are l0-l5Yo, they are the most frequently used form of distribution and best way to atfract attention to a new product. Mark-ups typically range from 20%-50%. The buying cycles revolve around the major quarters, semesters or trimesters. Key Trends & Attitudes Recently, college bookstores have been faced with a substantial increase in outside competitive forces i.e. school supplies and computer outlet stores. In an attempt to compensate, many stores are moving towards a one-stop-shopping approach. Items such as Starbucks, designer clothes and Clinique cosmetics have begun to appear in stores nationally. This provides...
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...Value Alignment: Burt’s Bees Over the past 30 years Burt’s Bees has been committed in making the world a better and cleaner place by producing all-natural products that people can use; while doing their part for achieving a healthy environment. Starting out from a candle artistry from leftover beeswax and then expanding into the health and beauty industry using the same concepts that align their mission and visions. Burt’s Bees creatively produces products that is not only good for you, it is also environmentally friendly. Within this paper, Team B has selected to analyze the value alignment of Burt’s Bees and will go more in-depth in what Burt’s Bees is all about. Team B will analyze personal and workplace values and behaviors of the business. Team B will also address the plans of the actions that Burt’s Bees plan to conduct, which will indicate the level of alignment between who they are and what their social responsibilities are to themselves, to the community, and to the consumers. Origins and Subsequent Evolution Burt’s Bees origin goes back to a summer day in Maine in 1984 (Our History, 2014). Roxanne Quimby, a single mother and artist, was hitchhiking and a long-bearded gentleman named Burt, well known for his local organic honey, picked her up. From there a relationship developed and Roxanne began using Burt’s left over bee’s wax to make artistic candles. Eventually, she created a lip-balm using an old farmer’s almanac and the bee’s wax. Her new product...
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