...Melinda Perez GMGT 695 Lack of Information Case Lack of Information (LOI) has 25 warehouses which contain asbestos. LOI has chosen not to recognize an asset retirement obligation for any of the warehouses. There are three different sets of facts as to why LOI is not recognizing an obligation. For each set of circumstances we will determine if LOI is properly omitting an asset retirement obligation or if further action is necessary. 23 of the 25 warehouses reside in states with special asbestos handling and removal laws. If the buildings are demolished or significantly renovated, LOI is responsible for the removal of the asbestos. For 10 of the 25 warehouses that reside in states with special asbestos handling and removal laws, LOI plans to sell the buildings without ever meeting the criteria to have to remove the asbestos and thus no obligation exists. ASC 240-20-55-58 and ASC 240-20-55-60 state that although timing of the performance of the asset retirement activity is conditional on the factory undergoing major renovations or being demolished, existing regulations create a duty or responsibility for the entity to remove and dispose of asbestos in a special manner, and the obligating event occurs when the regulation is put in place (55-58) or when the entity acquires the factory (55-60). LOI’s plans to sell the building in the next five years signifies an active market for the transfer obligation and meets the criteria for recognizing the fair value of the retirement...
Words: 555 - Pages: 3
...liability. There are five levels of hierarchy for calculating fair value. An entity must begin at the highest level and may work its way down if sufficient information is unavailable. The highest and preferred FVM is quote prices from active markets with the lowest being assumptions developed by the entity 410-20-25-4 An entity shall recognize the fair value of a liability for an asset retirement obligation in the period in which it is incurred if a reasonable estimate of fair value can be made. If a reasonable estimate of fair value cannot be made in the period the asset retirement obligation is incurred, the liability shall be recognized when a reasonable estimate of fair value can be made. If a tangible long-lived asset with an existing asset retirement obligation is acquired, a liability for that obligation shall be recognized at the asset’s acquisition date as if that obligation were incurred on that date. 410-20-25-6 An entity shall identify all its asset retirement obligations. An entity has sufficient information to reasonably estimate the fair value of an asset retirement obligation if any of the following conditions exist: It is evident that the fair value of the obligation is embodied in the acquisition price of the asset. b. An active market exists for the transfer of the obligation. c. Sufficient information exists to apply an expected present value technique....
Words: 2229 - Pages: 9
...ISSUE: Should LOI (Lack of Information) recognize an ARO (Asset Retirement Obligation) regards to each condition of its warehouses? BACKGROUND: LOI owns and operates 50 warehouses throughout the country. It has identified obligations to handle and dispose of asbestos upon retirement of several of its warehouses, which is they do not need to recognize any liabilities related to these obligations because it has asserted that the obligations are not probable or that it does not have sufficient information available. KEY CONSIDERATIONS INVOLVED IN THE ACCOUNTING QUESTION 1. Should LOI recognize an ARO of the two warehouses in states that have special handling and disposal of the asbestos laws? 2. Should LOI recognize an ARO of the ten warehouses containing asbestos that reside in state with special asbestos handling and removal laws, which are planned to be sold within five years but not demolished or otherwise significantly renovate prior to their disposal? 3. Should LOI recognize an ARO of the two warehouses containing asbestos reside in states that do not have special handling and disposal of the asbestos laws, but with a legally binding contract to sell the warehouses in six months to a third party? SUMMARY CONCLUSION ON ACCOUNTING QUESTIONS 1. LOI should recognize ARO when the two warehouses conform to ASC 410-20-15 scopes. 2. LOI should recognize ARO for the 10 warehouses in states which have special asbestos handling and removal laws, because...
Words: 1066 - Pages: 5
...Information sharing between the agencies within the Intelligence Community have dramatically increased over the last decade. Information sharing can help organizations around the United States prevent attacks, terrorism, and even help local law enforcement solve crimes. Even though information sharing has increased there are still many obstacles that prevent some information sharing to occur between the agencies. Lack of adequate government funding for some organizations can cause many of the local organizations to be restricted to valuable resources. In addition to the lack of funding, the individual methods in which each organization stores their information proves to be an issue as well. Since the development of fusion centers, this has...
Words: 758 - Pages: 4
...What are clues to authenticity or lack of authenticity of information on the Internet? When looking for clues of authenticity you need to make sure you are checking the documentation and origin of the information. If there are signatures or seals, check the links for authenticity. See if you are able to contact the webmaster who is in charge of the site. Having dates on the paper which can include first written, when published, and when it is last revised. When checking the content makes sure the content is not biased and is factual. See if you can find motives like if the site is trying to inform or sell. When a websites have a lack of credibility there will be no authors listed on any of the information. A site is not put together neatly and has many grammar errors and misspellings are a sign of low credibility. A site with lack of credibility will have vague and basic information, and be very one-sided without acknowledging the other side. A website has a lack of authenticity when it has numbers and statistics but no proof. You cannot find no other site with same information. When checking sites remember that anyone can put just about anything on the internet. It is very important to check information on the internet to make sure it came from a reliable source. The best thing to do when checking for authenticity on the URL, see if it is connected to an affiliation. There will be sites with the information you are looking for you just need to be careful you don’t believe...
Words: 277 - Pages: 2
...on the role information erasure and how it negatively impact the Trans population lives. More specifically on the lack of information in erasing the trans identity and increasing the stigma associated with them, and how information erasure increases the struggles for trans individual accessing healthcare services. Information erasure includes the lack of knowledge regarding trans people and the assumption that such knowledge does not exist (Bauer et al, 351). The lack of information and research on trans population plays an effective role in shaping...
Words: 656 - Pages: 3
...According to document (C) Gentlemen were wealthy people who did do manual labor and that there were 47 gentlemen, 1 barber, one tailor, one drummer, only 12 labourers and more. All this information shows that there could have been 50 more or less people who couldn’t work out of only 110 which is a whopping 5/11 almost 50% of the settlers this shows that there was probably lack of food because almost half of the settlers couldn’t work. Also this information shows that there was lack of food and maybe lack of order because they might not have wanted to work for people when they themselves were on the brink of death and this is all because they didn’t prepare correctly by bringing the wrong people. Also document (E) Shows that the Native Americans killed about a whopping 127 of the settlers which was around one fifth of the settlers . All this information shows that they did not prepare for the Native Americans and thought that they were better than them since they already knew about the Native Americans before they came to America. This shows that they died because of lack of preparation because if they prepared for the Natives and brought gifts of the sorts to show that cared and tried to live by the rules instead of breaking all of them in a few months they would have probably saved at least one-hundred...
Words: 828 - Pages: 4
...peer review form Research Project Part C – peer review evaluation of 2(two) competing group posters |[pic] |Peer review form | |Assignment worth 25% of the final grade. | |Max 500 words per individual evaluation. Evaluations longer than 500 words will receive a 15% mark deduction. | |Submission due: Monday 30th November 2015, 11:55pm (ACST), via learnonline course website | |Individual evaluations can only be submitted as .doc or .docx files | |MARK 5025 – Marketing Management | | ...
Words: 1533 - Pages: 7
...Exam question Management Information Systems 5. (a) Describe what is meant by a management information system (MIS). Include in your answer one example of how an MIS can be used. [5] (b) Describe the factors which make a good or a poor MIS using examples to illustrate your answer. [8] WJEC June 2010 5. (a) A management information system (MIS) is an organised collection of people, procedures and resources (1) designed to support the decisions of managers. (1) Examples of use similar to the following: A head teacher in a school analysing those pupils who are falling behind in their work as evidenced by test results and whose attendance is poor so that interviews with parents can be arranged. A production manager of a company using the MIS to make predictions as to how many of a certain product to make based on the sales from the same quarter in previous years. 4-5 marks Candidates give a clear, coherent answer fully and accurately describing MIS illustrated with an example. They use appropriate terminology and accurate spelling, punctuation and grammar. 2-3 marks Candidates describe MIS, but responses lack clarity. There are a few errors in spelling, punctuation and grammar. 1 mark Candidates give a brief comment on MIS. The response lacks clarity and there are significant errors in spelling, punctuation and grammar. 0 marks No appropriate response. 5. (b) Candidates may describe some of the following: Factors which make a good MIS Accuracy of the data ...
Words: 612 - Pages: 3
...comprised of the citizens who are filled with purpose, informed, and take action and respond based on the information that they receive. The well-known statement claims “most citizens are neither well informed, nor particularly interested in political matters. As a result they have withdrawn from the public sphere”. Further, these citizens are not conscious pertaining to their civic duties and it is generating younger generations which identify with the lifestyle...
Words: 540 - Pages: 3
...many problems were revealed within the criminal justice system, especially those affecting the law enforcement community. One of those problems was the lack of interaction between the police departments and other local/state law enforcement with the federal law enforcement agencies. Local law enforcement agencies are the primary responders to any incident of crime or terror, therefore developing a better interagency collaboration in order to share information is essential in order to prevent future attacks. Prior to the 9/11 attacks many of the agencies believed in keeping information within their own realm due to protocols and security clearances. These criminal justice agencies each had pieces to a puzzle, but because these agencies never worked together, those pieces would never be put together to reveal the bigger picture. The 9/11 events revealed the lack of interaction and set about a positive change that would impact the way the criminal justice system approached their problem solving. One of those changes was the reorganization of the federal law enforcement agencies, including the creation of the Department of Homeland Security and the Transportation Security Administration (Brown, 2007). Another positive change was the reorganization of federal, state, and local governments for the purpose of increased information intelligence and sharing. Despite the positives changes that occurred to improve interagency collaboration, there were several challenges to the process...
Words: 3147 - Pages: 13
...They are about information and knowledge. The past librarianship has been associated with books only because books were the primary manifestation of information. In today’s world, information manifests itself in various media one of which is the most notable medium (Bajoyo, 2011). Technology has unlocked a universe of electronic information resources. Electronic resources and services have become the most popular tools for research and academic activities. These electronic information resources provide faster and reliable information according to Bhukuvhani, Chiparausha and Zuvalinyenga (2012). Libraries are now universally recognized as important social institutions for diffusion of knowledge and information. No community, institution or an organization is considered complete without the support of a library and its effective service. Library is a growing organization which requires constant change in order to maintain a high degree of relevance to the environment. Scarcity of resources, information and document explosion and the demand for consistent, responsive and prompt services for clientele pave the way for librarians to find out solution for effective and efficient management of libraries (Egberongbe, 2012). According to Gakibayo (2013), electronic information has gradually become a major resource in every University library. The emergence of electronic information resources simply referred to as electronic resources has tremendously transformed information handling and...
Words: 2098 - Pages: 9
...Business Environment of China Unawareness is a state that results due to lack of attention or knowledge concerning a particular aspect. Usually, it may result due to forgetfulness or may as a result of unconsciousness. As a result, it causes one to have limited information about one self or the surrounding. In most cases, nescience is often confused with denial which is the inability to cope with a stressful circumstance psychologically. In most social life the lack of knowledge can cause huge loss to individuals and the society in general. Medically nescience is associated with various illnesses and may result in increase of certain behavior such as denial and violent behaviors. This essay will discuss the negative implications nescience in workplace safety can have on company success. Anosognosia is the term used to describe nescience of illnesses. Unawareness of certain illness causes one to be unable to identify warning symptoms. For instance hypoglycemia nescience causes individuals to be unable to identify the warning signals signifying low blood sugar. They thus do not take any precautions of treating the low glucose level until it is too late. In most cases due to nescience of the warning symptoms such people end up realizing they are low in glucose level when it is too late. In another aspect, the lack of knowledge may result to development of certain medical condition such as Huntington’s disease. This disease results when an individual is unable to...
Words: 593 - Pages: 3
...1 EJISDC (2013) 56, 7, 1-17 ICT BARRIERS AND CRITICAL SUCCESS FACTORS IN DEVELOPING COUNTRIES Almamy Touray Department of Computer Science and Information Systems, University of Jyväskylä, Mattilanniemi, Agora, 40351 Jyväskylä, Finland almamy.2.touray@jyu.fi Airi Salminen Department of Computer Science and Information Systems, University of Jyväskylä, Mattilanniemi, Agora, 40351 Jyväskylä, Finland airi.salminen@jyu.fi Anja Mursu Salivirta & Partners, Kauppakatu 28, 40100 Jyväskylä, Finland Anja.Mursu@salivirta.fi ABSTRACT Since the early 1990s, Information and Communication Technology (ICT) has been perceived as a catalyst for development. However, the UNICEF State of the World’s Children Report 2011 acknowledges that the poor in many developing countries remain largely excluded from ICT and its benefits. This paper aims to address three issues. Firstly, identify ICT barriers in the literature from 2000 to 2011. Secondly, identify ICT barriers through empirical findings and thirdly, categorize these barriers into critical success factors. These aims are achieved by comparing the findings in the literature to our recent empirical results. Two methodologies are used in this study, namely, a systematic literature review and a case study; the empirical data for our case study was collected from The Gambia in autumn of 2012. The systematic literature review covers 1107 studies (2000-2011) published in the top five ranked ICT4D journals in terms of journal citation ranking. The...
Words: 7224 - Pages: 29
...situation that is unique, is poorly defined and largely unstructured, and has important consequences for the organization. All the information the decision maker needs is fully available. A decision had clear-cut goals and good information is available, but the future outcomes associated with each alternative are subject to chance. Information about alternatives and future event is incomplete Goals to be achieved are unclear, alternatives are difficult to define, and information is unavailable. Classical model Administrative model Political model This model is based on economic assumptions. Managers are expected to make decision that are economically sensible and in the organization‟s best economic interests Clear goals Condition of certainty Almost full information about alternatives and their outcomes Rational choice for maximum benefits This model describes how managers actually make decisions in difficult situations characterized by nonprogrammed decisions, uncertainty, and ambiguity. Bonded rationality means that managers have limits or boundaries on how rational they can be. Managers have time and ability to process only limited information to make decisions. Because managers do not have time and ability to process complex information they satisfice. Satisficing means that decision maker choose the first solution alternative that satisfy minimum decision criteria...
Words: 1681 - Pages: 7
