1. For the equipment Hemo-Tech should use its best estimate of selling price. Since it does not have a price on its own and the two competitors’ sell a different model or the same model to a different set of customers, it must use its best estimate according to 605-25-30-6C. Since the cost to manufacture the equipment including labor, materials, and allocated R&D is known, as well as an estimated markup based on its history of margins as well as the added benefits of the new model, a reasonable estimate can be made.…
Senator Paul Sarbanes and Representative Michael Oxley drafted the Sarbanes-Oxley Act or "SOX" in 2002 in order to curb the incidence of corporate fraud. The “Act” was signed into law on July 30th 2002 by President George W. Bush with the express purpose of restoring public confidence in the financial markets; and after enacting “the Act”, neither Sarbanes or Oxley would run for re-election in the 2006 elections (Jahmani & Dowling, 2008). The intent of the SOX Act was to protect investors, and any other stakeholders in a company, by improving the validity and reliability of corporate disclosures, such as financial statements and earnings reports, pursuant to existing securities laws and regulations governing publically traded companies (Kessel, 2011). The SOX Act holds corporate Chief…
Note: Due to the issuance of certain new accounting literature, changes in the status of ongoing projects during the past year, or evolution of practice, the following updates to the existing cases should be noted.…
As noted in Addendum – 2007 above, the conclusions reached in the above case were not…
Gordon Law Offices is a family law firm that is located in Las Vegas, Nevada. Their divorce and family law areas of practice include contested divorce, uncontested divorce, collaborative divorce, and mediation. Their other practice areas include criminal defense, personal injury, wills, and estates and probate. Gordon Law Offices is a member of the State Bar of Nevada and ABA- Defending Liberty, Pursuing Justice.…
Albuquerque Legal & Fiduciary is a law firm that is located in Albuquerque, New Mexico. Albuquerque Legal & Fiduciary is led by Bruce J. Puma Jr., an attorney, CPA, fiduciary, and trustee. Their services include estate planning, wills, trust, power of attorney, advance health care directive or living will, and guardianship and conservatorship. Albuquerque Legal & Fiduciary has no hidden costs.…
SKS Manufacturing has recently hired Deloitte & Touche as they are in a critical cash position with various internal inefficiencies in their procurement and production processes. Deloitte & Touche and SKS Manufacturing will need to work together in order to solve the issues present at SKS Manufacturing so they can be successful within the automotive parts industry.…
Congress passed the Sarbanes-Oxley Act of 2002 in response to financial scandals perpetrated by Enron and WorldCom, and it has had a strong impact on corporate accounting and financial decision-making. This law was intended to enhance financial transparency for publicly-traded companies. The Sarbanes-Oxley Act established new regulations and penalties for public companies to protect investors. In addition, it created the Public Company Accounting Oversight Board, or PCAOB, which is in charge of overseeing, regulating, inspecting, and disciplining accounting firms in their roles as auditors of public companies. This new law has impacted accounting…
Maria Del Carmen Triana earned her PhD in management at Texas A&M University. She has a MBA from the University of Arizona. The article A Woman’s Place and a Man’s Duty appeared in The Journal of Business and Psychology Volume 26 Issue 1. (2010). this article is about how men are starting to become secondary in wage earnings and women are the primary bread winners of the family. The article goes on to explain the definition of “Spillover Discrimination” and how male secondary wage earners are overqualified and are offered higher recommendations in the work place.…
Barrett, Easterday, Cunningham & Eselgroth, LLP is a law firm that is located in Dublin, Ohio. Barrett, Easterday, Cunningham & Eselgroth, LLP was established in 2002. Their practice areas include arbitration, employment law, probate and trust administration, asset protection planning, estate planning, probate and trust litigation, and more. Their attorneys are experienced and they render down to earth legal…
Starting off, if we were Palmer we would be disappointed that our top assistant is being taken away from our project. However, after taking an objective view of the situation, we would be able to realize it was the best move for the company. The situation was not working out because we were losing valuable work time from an employee. Because management decided on Olds working on the Crosby’s project, we would like management to find us a suitable replacement. Olds was a good employee, but he now works for Crosby and we cannot change that.…
When hiring in any level position, job title, or industry, the urge to find a female or male should not exist if the company’s real goal is to find the truly best candidate for the position. If the chances of someone being hired should be determined upon their gender that would also to be saying that it is ethically correct to hire someone solely based upon their skin color, religion, body type, sexual orientation, age, perfume usage and any other ludicrous reason there may be to want to hire someone over someone else. In today’s age you do not hear that a company is looking to increase the “diversity” of their leadership because they don’t have a sufficient enough ratio of African Americans to Caucasians. If that was to hit the news there would be much more significant response then there is in regards to having the issue of gender diversity promoted within different job levels, job titles, and industries, and this is simply because of how our society has grown and still sees the segregation between men and women still.…
The changes to the culture of the entire organization were profound and created a cognitive dissonance. The focus of the new administration was the bottom line and nothing else. Promises were not kept and threats of joblessness prevailed. Motivation plummeted. Extrinsic motivation was the only motivation for all the employees. The new method of motivation was not sufficient to retain the best employees. Benefits were curtailed, bonuses and raises were suspended, and recognition was nonexistent. The Expectancy X value theory was destroyed for those employees who depended on that type of motivation. Praise for a job well done became extinct because the new owner decided it was not necessary. The exclusive reliance on extrinsic motivation will fail if intrinsic motivation no longer exists. The employee retention problem returned with vengeance. Within the first 90 days after the new ownership, the department lost three of its best employees because the support for self-actualization ceased to be an important factor. Humans do not tolerate negative changes to their environment such as the workplace. If a hygienic environment becomes confused with misinformation, distrust, and lack of security it will become toxic. This became a very toxic workplace for all involved. Obviously, this was not the correct motivational theory to apply. The company closed one year later. Motivation is imminently important to any organization whether it be…
Why does one of the most important financial institutions in the United States hire females for their senior management, when most businesses covet these positions to men? I cannot help but think that women in general, have a more organized nature. From being on time, to cleanliness, setting and keeping appointments, having the ability to multi-task, meeting deadlines and performing under pressure, are all traits of most women. This does not mean that men cannot have these traits as well, it just means that women are equal. Perhaps, women are generally more organized individuals because, history shows that women have been the primary managers in the household. I know from experience that managing a household is not an easy task. There are children’s schedules to keep track of, including school, doctors’ appointments and sports events. Women have to keep up with family functions, cleaning, laundry, cooking and shopping. In many cases they also work, go to school and assist in keeping up with their husband’s schedules as well. The experience a woman receives from juggling all of these tasks and maintain it in an organized way would surly translate into an asset in the corporate…
In this week’s article, we read about Vijay Kumar, the managing partner at Leman Highlander and Company’s Mumbai office. Vijay is a star performer, praised for his ability to attract large clients and grow the bottom line of the business. Unfortunately, he is also become known as a hothead, perfectionist and dictator and his employees are finding it very difficult to work for him, hence leading to a 34% turnover rate.…