"Hocus-Pocus Accounting" by Douglas R. Carmichael‚ Journal of Accountancy‚ October 1999; Vol. 188‚ Iss. 4; pg. 59‚ 5 pgs Abstract: SEC Chairman Arthur Levitt decried what he termed "accounting hocus-pocus" and called for coordinated efforts to uncover it. He targeted the practice by some companies of improperly boosting reported earnings by manipulating the recognition of revenue. Among the most common methods of doing this are the bill-and-hold transaction and a long list of sham transaction involving
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Discussion Questions for Starbucks Case The discussion questions below will be the focus of the in-class case discussion. Try to answer them with as much detail as you can. Write down your answers and bring them to the class for discussion. Starbucks operates in the retail coffee market. In the home‚ it has 4% share specialty coffee. In the food service channel‚ it has 5% share. In the grocery stores‚ it has 7.3% in the ground coffee and 21.7% in the whole beans category. 1. What is Starbucks’
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1. Discuss the distinguishing features (Market size‚ Market growth rate‚ Industry strength‚ etc.) of the industry. The world foodservice industry is expected to reach almost $992 billion in 2014‚ according to Datamonitor (2010)‚ with a volume of over 586 billion transactions. This represents more than 18% growth in five years. Cafés and restaurants represent the leading market segment at over 50% of overall industry value. Regionally‚ Asia-Pacific holds almost 43% of the world foodservice industry
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The Kom-pact: Art Furniture‚ It is dedicated to consistently create and provide tasteful pieces in small and compact designs to fit studio living and small spaces. They are artistic‚ unique and beneficial pieces such as cabinets‚ desks‚ shelves‚ beds and chairs. The Company also aims to provide affordable pieces for individuals and families who are on a tight budget. The company specializes in “made-to-order” furniture‚ and a unique line of bed room and living room furniture to be sold through
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1. How would you characterize the household wood furniture industry? I would characterize the wood furniture industry to be a very complex competitive relationship based industry. This industry has many different segments that form as a whole. A few of these segments are suppliers‚ producers‚ and raw material manufactures. A great deal of the raw materials are imported from different countries in order to keep constant on quality and cost. This industry is had to penetrate being that a lot
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Capital Budget Recommendation Guillermo Furniture is located in Sonora‚ Mexico. It was founded by Guillermo Navallez. The company manufactures midgrade and high-end sofas and the company and its owner is being pressured by the increased competition that is moving its way into Sonora‚ Mexico. Guillermo has hired an accounting firm to explain which option would be the best move for the company financially. The options presented to Guillermo are; consolidating into a larger organization by merger
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intended to focus? Why? Answer: As activities go in Mr. Phillips Furniture store I would implement a vison or mission statement to adhere by‚ so that there is a proper goal set in place for employees and other organizations to see that there is a future for growth. The goal of the mission statement will help establish a future plan where the company can aim to be at. Mr. Philips has been growing his company from a little furniture off of lakeside to now multiple growing locations. As mission statement
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Executive Summary The following report is providing a overview of the furniture manufacturing company Adorn expanding its sales operations into a foreign country and the consequences of such a decision. The assignment covers: The decision to go global and how to Adorn should choose which country to expand its operations into. Discussed are such aspects as G.D.P. and demographic trends The U.S.A. is the proposed country to expand into. With this‚ data was gathered from many different sources
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Case Test 1‚ Case 1-39 Research and discussion case: Smith & Company a. The following view can be prepared for permitting public accounting firm to sell their ownership interest to individuals not in public accounting from incorporation: 1) Assessing capital in the economy is enhanced which makes the allocation of scarce resources efficient within the economy. 2) Since public accounting firm participate against companies that are permitted to get in a certain manner‚ they must not be constrained
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Interpretation by Arkadiy Kurakin The story of Herbert Ernest Bates "The Beauty of the Dead". The story is a unit of literary fiction. The author uses different expressive means and stylistic devices to show the reader the idea of the story‚ such as epithets‚ metaphor‚ similar‚ oxymoron‚ irony‚ hyperbola‚ understatement‚ etc. The protagonist of this story is Mr. Grimshaw. This is a complex character‚ reticent‚ gloomy. His surname is rather significant. The adjective “grim" means harsh‚ merciless
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