...Written Case Analysis Landau Company I. Background: Landau Company is a manufacturing company that is currently using Absorption Costing System for the preparation of their monthly Income Statements. The company is considering a shift in the system to Variable Costing. II. Problem Statement: What Costing System should Landau Company used for their monthly income statement that could best reflect their monthly income? III. Objectives: - Differentiate Variable Costing from Full Costing/ Absorption Costing. - Assess the proposed Variable Costing and identify its pros and cons IV. Answers to the Requirements of the Case: 1. Pros and Cons of Variable Costing The major advantages of Variable Costing are as follows: - The contribution margin format income statement produced in Variable Costing provides information for CVP Analysis, hence useful in making decisions regarding profit-planning. - Estimating profitability is easier since it provides data for individual product profitability. - Aids management in controlling costs. Variable costing reflects direct and controllable costs that management could take into consideration for cost management. - Saves time and effort of allocating fixed manufacturing overhead to each product. Variable Costing uses fixed overhead as a lump sum, treats it as period cost, hence deducts it at once. This is in contrast with Absorption Costing where there is a need to compute for the per-unit fixed cost and...
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...Landau Company Written Case Analysis Written Case Analysis Landau Company I. Background: Landau Company is a manufacturing company that is currently using Absorption Costing System for the preparation of their monthly Income Statements. The company is considering a shift in the system to Variable Costing. II. Problem Statement: What Costing System should Landau Company used for their monthly income statement that could best reflect their monthly income? III. Objectives: - Differentiate Variable Costing from Full Costing/ Absorption Costing. - Assess the proposed Variable Costing and identify its pros and cons IV. Answers to the Requirements of the Case: 1. Pros and Cons of Variable Costing The major advantages of Variable Costing are as follows: - The contribution margin format income statement produced in Variable Costing provides information for CVP Analysis, hence useful in making decisions regarding profit-planning. - Estimating profitability is easier since it provides data for individual product profitability. - Aids management in controlling costs. Variable costing reflects direct and controllable costs that management could take into consideration for cost management. - Saves time and effort of allocating fixed manufacturing overhead to each product. Variable Costing uses fixed overhead as a lump sum, treats it as period cost, hence deducts it at once. This is in contrast with Absorption Costing where there is a need to compute for the per-unit fixed cost...
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...I. Background of the Study The company is engaged in manufacturing business. The company is currently uses absorption costing. In early August, it had a new marketing vice president in the name of Terry Silver and found the July’s Financial Statement as puzzling and asking why the company is not using variable costing. II. Problem Statement 1. Critique the various pros and cons of the variable costing proposal that were presented in the meeting. What arguments would you add? 2. Should Landau adopt variable costing for its monthly income statements? III. Objectives 1. To cite and evaluate the pros and cons of Absorption Costing versus Variable Costing 2. To evaluate the usage of Absorption Costing versus Variable Costing 3. To adapt an accurate costing system that would depict the monthly income statement of Landau Company IV. Areas of Consideration The Financial Statements of Landau Company was examined to show the application of Absorption Costing and Variable Costing as well as the pros and cons of it usage. PROS | CONS | Terry Silver doesn't understand income changes in absorption costing attributable solely to production volume changes. To mc, this is an important reason to consider seriously the introduction of variable costing for monthly management reports. | Marketing will underprice products if only the variable cast per unit is emphasized. | It eliminates time-consuming and argumentative fixed overhead allocations...
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...Laser as a Treatment for Refractory Diabetic Leg and Foot Ulcers ABSTRACT BACKGROUND: Diabetic leg and foot ulcers often lead to immobility, infection, and amputation, cost $7,000 to $40,000 per ulcer, and erode mental health and QOL. Lasers have been effectively utilized in medicine since the 60’s, from various surgical uses to the treatment of diseases. Although low-energy (also called low-power, low-level, and cold) laser therapy for “biostimulation” (or biomodulation) of ulcer healing has been studied extensively, quality data on diabetic wound healing is rare. This review seeks to evaluate the efficacy of laser therapy as an adjunct in healing of recalcitrant diabetic ulcers. METHODS: Literature review and statistical analysis using RRR, NNT, d, t, r2, and fail-safe calculations. RESULTS: Six studies with 6 probabilty scores met the inclusion and exclusion criteria. They showed an overall mean RRR of 86% (CI .21-.33). Four of the studies, totaling 8...
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...Assignment 1 Individual Case Study In recent decades, Corporate Social Responsibility has become one of the major areas of concern to corporations and the question, “Are companies moral agents?” is quite a debatable question among various thinkers. With the raised level of awareness of consumers regarding the impact of corporate activities on environment and society at large, corporations are obliged to put serious efforts towards execution of environmental, social and ethical procedures in their actions (Lombardi et al, 2015). At various times, various issues had been raised by the consumers or competitors of various corporations which has led to adoption, development and implementation of various code of ethics to be followed by companies in order to evolve ethically in business world. History has many evidences of rise and fall of various major corporations, by means of involving in various unethical activities and frauds, such as, HIH insurance, One.Tel, Enron etc to name a few. One of the renowned MNCs, Nestle, has been in the conflicts since long regarding the issues of corporate social responsibility and ethics. Nestle has faced severe criticism for its marketing and business strategies, for transgressing human and workforce rights and environment. Nestle had a bad name in history with its infant formula controversy, as the company involved in marketing, promoting and selling its product unethically in underdeveloped nations, due to which it had to face a global...
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...parties concentrates on simplistic debates evaluating the tradeoff between individual privacy and national security. However, it is an important time for the government and other stakeholders to begin weighing the benefits and costs associated with the surveillance more carefully. In spite of the strong defense by intelligence officials in favor of the NSA programs, the officials fail to table any credible evidence in support of the benefits they suggest. In fact, some initial analysis of the programs indicates that the benefits are dubious. It is true that the United States is a target for terrorist and other malicious groups, state officials often use the threat as an excuse to conduct and promote the activities of the National Security Agency. It may be beneficial in the context of security, but the surveillance programs also jeopardize the activities and operations of other organizations and individuals within the United States. The impact of the activities of the NSA on other parties is a cause for an analysis of the economic effects realized within the economy of the United States by various parties. For the period that the National Security Agency has conducted its surveillance, through its programs, many nations lost trust in the intentions of the USA leading to a strain in economic relations in both private and government sectors. For many years the NSA has used data as a key to preventing attacks. However those practices...
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...organization’s core values and beliefs that defines the organization’s identity and combines and ideal manifestation of its direction together with a tangible prescription for realizing its goals.1 This is mainly the statement for the overall company. Within different departments, some managers may have an additional vision statement for the department and the workers. At the supply and distribution company that I work for, I believe that there could be a vision, mission and strategy statement for each individual department, especially the Parcel-Packing department. The head department manager recently took on a change initiative to determine why the department was experiencing an overload of orders not being packed, when the flow of work had not changed. From observation, he took on the role of an interpreter in managing the change. In order to go about change, a vision had to be made. For the Parcel-Packing department, I have developed vision, mission and strategy statements that will hopefully help the change manager with the change initiative task. It is important to have these statements for this individual department due to the fact that with a change occurring, it will help to keep the focus of the goal that is to be achieved. Application Analysis While gathering information from the organization to put the statements together, I did some research on what these statements consist of. According to Pendlebury, Grouard, and 2 Meston, vision consist of three...
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...Evaluation of a Business Code of Ethics Evaluation of a Business Code of Ethics Business codes of ethics are written guidelines use by an organization to set the standards for employees and management conduct and behavior ("Businessdictionary.com," 2013). Business code of ethics is important to deal with ethical the rules and principles needed for a successful business. Also known as code of conduct a business code of ethics reflect an organization values, ethics, objective, and responsibilities ensuring corporate responsibility, quality assurance, and customer satisfaction creating excellence, accountability, and transparency. In this paper an explanation and description of some general information concerning Starbucks mission, and ethical system uses with examples of their uses. The essay will also identify how the code of ethics affects employees, managers, and board of directors within the organization. An explanation of the organization need to modify the existing code of ethics and the best method to implement these changes will be discussed. Furthermore, a discussion of the possible reactions from employees, managers, and the effects the code may have on the organization will be provided. Starbucks general information general information, mission statement, and code of ethics Starbucks first opened in 1971 in Seattle historic Pike Place Market owned by three partners Jerry Baldwin, Zev Siegel, and Gordon Bowker. During the first decade,...
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...140 SU 3: Profitability Analysis and Analytical Issues QUESTIONS 3.1 Profitability Ratios Questions 1 and 2 are based on the following information. The financial statements for Dividendosaurus, Inc., for the current year are as follows: Balance Sheet Cash Accounts receivable Inventory Net fixed assets Total $100 200 50 600 $950 Accounts payable Long-term debt Capital stock Retained earnings Total $140 300 260 250 $950 1. Dividendosaurus has return on assets of A. 21.1% B. 39.2% C. 42.1% D. 45.3% 2. Dividendosaurus has a profit margin of A. 6.67% B. 13.33% C. 14.33% D. 46.67% 3. In the current year, Griffin Inc. had $15 million in sales, while total fixed costs were held to $6 million. The firm’s total assets at year-end were $20 million and the debt/equity ratio was calculated at 0.60. If the firm’s EBIT is $3 million, the interest on all debt is 9%, and the tax rate is 40%, what is the firm’s return on equity? A. 11.16% B. 14.4% C. 18.6% D. 24.0% 4. White Knight Enterprises is experiencing a growth rate of 9% with a return on assets of 12%. If the debt ratio is 36% and the market price of the stock is $38 per share, what is the return on equity? A. 7.68% B. 9.0% C. 12.0% D. 18.75% Statement of Income and Retained Earnings Sales $ 3,000 Cost of goods sold (1,600) Gross profit $ 1,400 Operations expenses (970) Operating income $ 430 Interest expense (30) Income before tax $ 400 Income tax (200) Net income $ 200 Plus Jan. 1 retained earnings 150 Minus dividends (100) Dec...
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...They have to come up with concrete decisions that are in line with the objects of the companies they are serving. In this case, they are expected to make decisions without fearing the end results. The case in this article is not different. For instance; there are four decisions to be made concerning the best company to be hired to provide computer services for knowledge sharing. Jackson, being the officer in charge of the department, is appointed by the president of McConnell Spices firm as an overseer in this matter. Therefore, he conducted research and came up with his proposals of which, has to be approved by the firm's board members. Despite being incapable of providing the services required by the company, Madam McConnell questions why Jackson has not included Standard Systems in his list. This scenario leaves Jackson with two major decisions to make. Other important decisions to be made are group decisions and the decisions of the board. All these decisions are explained in this paper. Case Study: McConnell Spice Mr. Charles Jackson, a chief information officer at McConnell Spice limited, has to make two critical decisions concerning his findings of a suitable firm that has the potential of equipping McConnell Spice with the required software applications. First, he has to make a decision on whether to reject or approve the Standard Systems as influenced by the president of the company, Mrs. McConnell. Decision-making is part of the integral issues that must be handled...
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...BP Leadership Group Four MGMT 620 – High Performance Leadership 2/5/2012 Chadron State College Abstract The purpose of this analysis is to focus on British Petroleum (BP) leadership as it relates to the 2010 Gulf oil spill and cleanup. One would think that a large corporation like BP would be penalized greatly from an oil spill of the magnitude. Once the announcement was made of the spill, BP leadership was quick to shirk responsibility and circumvent its safety policies and practices which led to one of the greatest man-made ecological disasters the world has ever known. Prior to the spill, the leadership values and culture at BP are obvious. Their focus was on reducing costs and meeting tight time-lines at the expense of safety. The former BP CEO resigned voluntarily. What leadership values or traits changed as a result of the disaster at BP? Did the new CEO set forth a path of leadership change or rather simply pacify the media? The Gulf oil spill forced a rapid increase in fuel prices in the country. In one quarter during 2010, BP earned enough profit to cover the expenses associated with the spill, including the associated litigation. One astonishing fact is that, upon exiting, the (supposedly) punished CEO was given a settlement of over 100 million dollars from BP. What leadership changes have occurred as a result of this tragedy? Not much, why? Limited financial consequences for BP have brought about very little change in leadership...
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...During the war | 5 | 2.c | After the war | 6 | 3 | Maus: Graphics and Symbolism | 6 | 4 | Comparative Analysis: Understanding the Characters | | 4.a | Sophie and Vladek | 8 | 4.b | Sophie and Anja | 9 | 4.c | Nathan Landau and Holocaust survivors | 10 | 4.d | Stingo and Art as narrators | 10 | 5 | Bibliography | 11 | Literature from the Holocaust: An Introduction “The Jews are undoubtedly a race, but they are not human.” Adolf Hitler Official figures tell that six million Jews, two million Poles, one million Serbs, five million Russians were exterminated during World War II – the actual toll of executions by the Nazi Government, can never be estimated. Holocaust was a period of unspeakable horror and infernal ramifications which were not only felt across Europe but also in places like Laos. When I began this term paper, it was meant to be a study of the literature pertaining to this period of Nazi regime in Poland during World War II. What it turned out to be was a account of implacable and starkly real evil. A subject that has inspired countless movies, novels, real-life accounts, memoirs and poems, the holocaust continues to haunt the imagination of the world even today. It is not history bygone and forgotten, it is a demon that could never be truly obliterated from the lives and minds of the people. The following pages contain an analysis of Maus, the Pulitzer Prize Special Award recipient (1992), and one of the most loved graphic...
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...Metaethics Metaethics is a branch of analytic philosophy that explores the status, foundations, and scope of moral values, properties, and words. Whereas the fields of applied ethics and normative theoryfocus on what is moral, metaethics focuses on what morality itself is. Just as two people may disagree about the ethics of, for example, physician-assisted suicide, while nonetheless agreeing at the more abstract level of a general normative theory such as Utilitarianism, so too may people who disagree at the level of a general normative theory nonetheless agree about the fundamental existence and status of morality itself, or vice versa. In this way, metaethics may be thought of as a highly abstract way of thinking philosophically about morality. For this reason, metaethics is also occasionally referred to as “second-order” moral theorizing, to distinguish it from the “first-order” level of normative theory. Metaethical positions may be divided according to how they respond to questions such as the following: * Ÿ What exactly are people doing when they use moral words such as “good” and “right”? * Ÿ What precisely is a moral value in the first place, and are such values similar to other familiar sorts of entities, such as objects and properties? * Ÿ Where do moral values come from—what is their source and foundation? * Ÿ Are some things morally right or wrong for all people at all times, or does morality instead vary from person to person, context to context...
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...2: Case Study Report Student name: Kyaw Zin Thant @ Phyo Kyaw Lynn Student ID : 30309572 Lecturer : Raymond Lim Due date : 30 September 2015 Word count : 2,579 words Table of Contents Executive Summary…………………………………………………………………………………3 1. Introduction and background of Best Buy……………………………………………………3 2. Stakeholders interested in the performance of the company……………………………..4 2.1 Employees ……………………………………………………………………………………..4 2.2 Managers ……………………………………………………………………………………...4 2.3 Competitors …………………………………………………………………………………...5 3. Three environmental factors on Best Buy…………………………………………………….5 3.1 Political factors ………………………………………………………………………………..5 3.2 Economic factors ……………………………………………………………………………..6 3.3 Social factors…………………………………………………………………………………..6 4. Three selection methods for employees………………………………………..…………….. 7 4.1 Making interview……………………………………………………………………………… 7 4.2 Check the background………………………………………………………………………. 7 4.3 Department transfer …………………………………………………………………………..8 5. Three strategic rewards to retain key employees …………………………………………......8 5.1 Relating rewards and benefits……………………………………………………………….8 5.2 Training………………………………………………………………………………………….9 5.3 Mentoring……………………………………………………………………………………......9 6. Conclusion …………………………………………………………………………………………..10 7. References …………………………………………………………………………………………..11 Executive Summary This is the final report and the chosen case study...
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...Origins and Responses to the Crisis Barry Eichengreen University of California, Berkeley October 2008 Nearly two years after the outbreak of the credit crisis (which may be dated to March 2007 when major losses were announced by the U.S. subprime-based investors Accredited Home Lenders Holding and New Century Financial), key issues remain to be resolved. At the most basic level the questions are two. What caused the crisis? And in light of one’s answer to this first question, what should be done to minimize the risk of repetition if not of identical events then at least of something similar? To say that these questions remain to be satisfactorily answered is not the same as saying that there has been a shortage of attempts. Standard operating procedure starts by rounding up the usual suspects: unethical mortgage brokers, greedy bankers, naïve homeowners, and illinformed investors. Lists focusing less on individuals than mechanisms emphasize agency problems between brokers and banks, the originate-and-distribute model, excessive leverage and short-term funding, the perverse incentives created by executive compensation practices, conflicts of interest within the rating agencies, and permissive monetary policies. These long lists of causes lead to correspondingly long lists of reforms: regulate mortgage brokers, rating agencies, and executive compensation; force banks to keep a participation in any securities they originate; require banks to hold more capital; and...
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