Ethics and Social Responsibility Sears Auto Center Scandal Managing Business Ethics Text (pp.207 - 210) Ethical Decision-making Issue: Should Sears remove its commission-based compensation scheme? Group Stand: The majority of the group believes that Ellen should be removed from the team. Support for Motion: Rawl’s theory/Egalitarianism The underlying inequality is that car owners are paying for repair services they do not require while Sears benefits by earning higher profits. This
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1. Synopsis Sears‚ the well known department store chain has experienced change more often than ever in the recent times. The company went through the change in order to strengthen its traditional business and divest other retail segments. But each and every time the change program proved to be ineffective looking at it from long term perspective. 2. Issues The major issues of the case are: • Was it a good idea to appoint someone who is not from the company itself to
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Goods/Stock purchased or sold being returned is quite a common practice in business. This may be on account of a number of reasons like defects in goods‚ quality not matching the requirement for which the buyer purchased it‚ the buyer not needing the stock‚ etc. This happens both in case of goods purchased as well as goods sold by the organisation. Where the goods sold are being returned we call it "Sales Returns" and where goods purchased are being returned we call it "Purchase Returns"
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company issue a share having face value of Rs 10 at Rs 8 Give two examples of ‘Capital receipts’. Give two circumstances in which sacrificing ratio may be applied (1) (1) (1). (1) (1) Show how you would deal with the following items in the final accounts of a club: (3) Debit credit Prize fund Prize fund Investments 1‚20‚000 Income from Prize fund Investments Prizes awarded 9000 Q7. 1‚20‚000 12000 A‚B and C are partners sharing profits and losses in the ratio of 1 : 2: 3. They have omitted interest
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How do the Sears changes reflect a total rewards approach? A total rewards approach can be implemented in a company to attract‚ engage‚ and retain employees. When designing an effective total rewards approach a mixture of five key elements are used to tailor a program that reinforces the overall business strategy of a company while ensuring organizational success for the future. These five key elements are: compensation‚ benefits‚ work life‚ performance and recognition‚ and finally development
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profit and unappropriated profit. what is the accumulated profit and why do accountants and bookkeepers use different names for the same thing? (6 marks) Accumulated profits is profits that are not paid as dividend but is transfered over to the accounts for the next year. Also can be used to reinvest in the core of the business to help pay off debts or to purchase a capital asset. The reasons why accountants and bookkeepers use different names for the same thing is because bookkeepers are the people
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EXAM SAMPLE EXAM 1. The accounting process does not include: a. b. c. 2. d. e. labor unions all of the above statement of owner’s equity income statement balance sheet d. e. both b and c all of the above This account does not appear on the income statement: a. b. c. 6. lenders prospective owners customers Expenses can be found in the: a. b. c. 5. balance sheet balance sheet and journals balance sheet and income statement income statement
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Fixtures and fittings $000 $000 250 100 350 Current Assets Stock Debtors Cash Current Liabilities Creditors for supplies Accruals Bank 1540 820 3 2363 1210 192 203 1605 758 1108 25 910 Share capital – Ordinary shares Retained profits Loan accounts – Bracket Racket 104 69 173 1108 The company accountant resigned at the beginning of April 2002 and proper records were not kept for the six-month period 1 April to 30 September 2002. The following information is available for that six-month period
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Transactions Show Journal entries to record the following transactions. Post them into appropriate Ledger Accounts and then extract a Trial Balance on 31st December‚ 2012: 2012 Jan 1st: Commenced business with cash Rs 1‚00‚000. Jan 10th: Bought office equipment worth Rs 40‚000. Jan 25th: Purchased goods worth Rs 25‚000; less 10% trade dis. on credit from Rahul. Feb 4th: Purchased office stationary worth Rs 500. Feb 9th: Paid premium for fire insurance Rs 5‚000 Feb 20th: Sold goods on
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UNIVERSITI UTARA MALAYSIA UUM COLLEGEOF BUSINESS SCHOOL OF ACCOUNTANCY COURSE CODE : BKAL1013 COURSE : BUSINESS ACCOUNTING PRE-REQUISITE : NONE 1.0 COURSE SYNOPSIS This course is designed specifically for students from non-accounting disciplines. It is divided into two sections‚ i.e. financial accounting and management accounting. Students will be exposed to accounting concepts‚ principles and assumptions. They would be able to assess
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