that approximately‚ 133 people day in a day due to foodborne illnesses. Therefore‚ health and safety standards need to be raised in the food industry to protect consumers from ingesting E. coli and other dangerous bacteria. In the documentary “Food Inc.”‚ mother Barbara Kowalcyk shared her story of when her two year old son Kevin died from a strand of E. coli 0157:H7 in 2001. Kevin died because of a contaminated hamburger from a fast food joint. Had there been more inspections and regulations‚ Kevin
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Colton Jones‚ Inc. Marion Jones was once the sole shareholder and president of Chempla‚ Inc.; in 20X1 she sold her stock to Westcoat Industries. She signed an agreement to be a consultant for five years. After being unable to make a profit Westcoat decided to sell their interest in Chempla‚ but were unable to find a buyer. Westcoat offered Chempla back to Marion Jones and an agreement was reached on September 1‚ 20X4. Included in the agreement Marion would be majority shareholder of the newly
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Optical distortion‚ Inc 1‚ The expected value of the lenses to farmers Total saving per hen Using ODI‚ rather than debeaking‚ to combat cannibalism‚ a farmer can save the cost in four parts. Lower mortality‚ no egg loss‚ labor in efficiency and feeding in the trough with at least 3/8” deep are the main points to reduce the cost. 1)‚ Debeaking reduces mortality from 25% to 9%. However‚ a test reveals that ODI lower the mortality to an average of 4.5%. The purchase cost per hen is $2.4. So‚ the
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Case 4.4 Waste Management‚ Inc. Question 1 Three conditions are often present when fraud exists. First‚ management or employees have an incentive or are under pressure‚ which provides them a reason to commit the fraud act. Second‚ circumstances exist - for example‚ absent or ineffective internal controls or the ability for management to override controls – that provide an opportunity for the fraud to be perpetrated. Third‚ those involved are able to rationalize the fraud as being consistent with
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Case Study: MagRec Inc. 1. Place yourself in the role of the manager. What should you do now? After considering what happened‚ would you change any of your behaviors? If I were the manager in the situation that she is currently in I would apologize to Dinah. I would apologize because: 1) Dinah was honest and reported the file when she could have disposed or disregarded the file‚ 2) Dinah could have taken the file directly to Partco without MagRec’s knowledge and completely undermined MagRec’s
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Scenario 1 Energy Inc. has a present obligation (IAS 37-17) and probable liability (ASC 450-20-25-2) on December 31‚ 2011 as a result of a past event‚ the contamination of the land‚ because it is virtually certain that a draft law requiring cleaning up will be enacted. It is probable (more likely than not) that Energy Inc. will be required to transfer economic benefits in settlement which is an outflow of resources embodying economic benefits in settlement (IAS 37-23). The amount of the obligation
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Cooper Industries Inc. Based on the given information in the case study regarding the acquisition of Nicholson File Company by Cooper Industries‚ there is no question that Cooper should try to gain control of Nicholson. This decision is based on an analysis of the bargaining positions of each group of Nicholson stockholders which have disparate goals and needs that need to be met. In addition‚ an appropriate payment method and specific dollar value based on a competitor’s offer and Cooper financial
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related to an acceptance of a client. Murphy Tymshare Inc is building and selling resort time-share condominiums in South Florida‚ it has been in business for five years. It recently bought out competing and floundering time-share development. The company stock is mainly owned by Jake (51%)‚ the other 49 % is owned by friends and family members. Identified factors that indicate potential problems with the audit of Murphy Tymshare Inc will be discussed below. 1Q. Knechel in his book describes
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Component Technologies‚ Inc 1) Prepare the manufacturing staff’s calculations for the three alternatives (please refer to the attachments): a) In the first set of calculations‚ the staff used a discount rate of 20%‚ a five-year time horizon‚ and ignored taxes and terminal value. What is the relative attractiveness of these three alternatives? During the period of 5 years (from 1994 to 1998)‚ if the discount rate is 20%‚ Waltham plant is the only one that has a positive amount in NPV. The
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years‚ equivalent to the three years it is covered under warranty. The used CNC routing machine has a payback period of one year and eight months witch exceeds the warranty of one year. Mark decides to go with the new CNC routing machine form High Tech Inc. do to these calculations. We have also determined how many cabinets the production line can produce per year with the re-arranged line of six workers and the new CNC router machine. We know that working at maximum capacity is unrealistic therefore
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