For the exclusive use of Y. LI Harvard Business School 9-284-057 Rev. June 1‚ 1998 MCI Communications Corp.‚ 1983 In April 1983 Wayne English‚ chief financial officer of MCI Communications Corp.‚ faced the problem of setting financial policy in an environment characterized by a large potential demand for external funding and great uncertainty concerning MCI’s future. MCI‚ which provided long distance telecommunications services in competition with AT&T‚ had seen its revenues grow from almost nothing
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the Natural Approach‚ drawing on Krashen’s influential theory of second language acquisition. Krashen and Terrell’s combined statement of the principles and practices of the Natural Approach appeared in their book‚ The Natural Approach‚ published in 1983. Krashen and Terrell’s book contains theoretical sections prepared by Krashen that outline his views on second language acquisition (Krashen 1981; 1982)‚ and sections on implementation and classroom procedures‚ prepared largely by Terrell. Krashen
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year there was a steady rise in student numbers to a peak of 180 in December. Overall it shows steady growth when compared to the 2000 enrolments. Table 2 The table shows the percentage of household consumer durables sold in the UK from 1972 to 1983. It can be divided into three groups. Firstly‚ a number of appliances were in a high percentage of homes for the entire period. These included TVs‚ vacuum cleaners‚ refrigerators and washing machines. TV ownership was the highest‚ growing from 93%
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Harnischfeger Corporation‚ a large New York Stock Exchange company‚ faced a financial crisis in 1982. New management was appointed to turn the company around and as part of its restructuring strategy‚ the new management team made a number of financial reporting policy changes and accounting estimates in fiscal year 1984. Listed below are all of the changes and analysis on whether they might be real earnings management activities. In addition‚ the effect of these changes on the company’s revenue‚
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BUS 210 Week 2 Business Organization 1 Business Organization BUS210 Amy Dittbenner Checkpoint – Business Organization July 22‚ 1975‚ Bill Gates writes a letter to Paul Allen using the name‚ “Micro-soft” referring the their 60/40 partnership. Their main product is BASIC. Gates and Allen worked day and night to create the first version of Microsoft Basic‚ a simple computer software. They realize that the future of personal
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1. Describe clearly the accounting changes Harnischfeger made in 1984 as stated in Note 2 of its financial statements. Prior to 1984‚ the Corporation used principally accelerated methods for its U.S. operating plants. The cumulative effect of this change‚ which was applied retroactively to all assets previously subjected to accelerated depreciation‚ increased net income for 1984 by $11.0 million or $.93 per common and common equivalent share. The changes as defined in Note 2 are as follows:
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will lose their value more slowly. Given the business conditions Harnischfeger was facing in its primary industries in 1984‚ are these economic assumptions justified? The consolidation of the statements of the operations indicates that the revenue in 1983 was declining as well as the uses of assets. 5. In Note 7‚ Harnischfeger describes the effect of LIFO inventory liquidation on its reported profits in 1984. Describe what is meant by LIFO liquidation and how liquidation affects a company’s income
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hungry... Why foist this food upon us? We don’t want to be choked. We have enough.” Robert Mugabe Parents can’t feed their children. Why? Hyperinflation 1983 USD $1 = ZWD $1 1983 USD $1 = ZWD $1 2000 USD $1 = ZWD $1‚000 1983 USD $1 = ZWD $1 2000 USD $1 = ZWD $1‚000 2006 (Jan) USD $1 = ZWD $100‚000 1983 USD $1 = ZWD $1 2000 USD $1 = ZWD $1‚000 2006 (Jan) USD $1 = ZWD $100‚000 2006 (July) USD $1 = ZWD $500‚000 2008 (July) USD $1 = ZWD $18‚700‚000‚000
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1. Describe clearly the accounting changes Harnischfeger made in 1984 as stated in Note 2 of its financial statements. • Harnischfeger included net sales figure from Kobe Steel Ltd. Previously‚ only net gross margin generated from transactions with Kobe Steel Ltd was included. As a result‚ net sales figure increased by $28 million. • Harnischfeger incorporated certain foreign subsidiaries’ financial statements with fiscal year ending 31st July. The adjustment resulted in a net sales figure increase
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As more minors are committing violent crimes‚ (Greenwald‚ 1983) the question arises‚ Should minors who commit violent crimes be tried as adults? Based on the following scenario one would agree that minors who commit violent crimes should be charged as adults. In the case of a Middlesex teenager and his girlfriend‚ his punishment was severe and ultimately cost him his life. His girlfriend’s punishment was not quite as severe (unknown‚ www.clarkprosecutor.org‚ n.d.). According to the Journal of Criminal
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