Good to Great Book Review Throughout the book Collins examines what differentiates a good company from a great company. This first chapter addresses the process of evaluating information and finding characteristics that differentiates the two types of companies. After finding these characteristics Collins’s team compared the data to a variety of companies and discovered what a great company had that a good company didn’t. “We came to think of our research effort as akin to looking inside a black
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Average inventory ($188‚000 + $208‚000)÷ 2 5. Average days to sell inventory (96.3) = 365 days ÷ Inventory turnover (3.79) 6. Average days to sell inventory (96.3) = 365 days ÷ Inventory turnover (3.79) 7. LIFO cost of goods sold ($22.2 billion) = FIFO cost of goods sold ($22 billion) + the increase in LIFO reserve ($0.2 billion) 8. An overstatement of ending inventory overstates current assets and understates cost of goods sold and therefore overstates net income this year‚ the understate net income of
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Solutions – Chapter 5 Chapter 5 Financial Analysis Question 1. Which of the following types of firms do you expect to have particularly high or low asset turnover? Explain why. Supermarket—High asset turnover. Supermarkets tend to be high volume businesses. Many of the food products in supermarkets are perishable‚ and freshness is often used to differentiate products‚ forcing a certain amount of inventories turnover. The typical consumer buys groceries on a regular basis‚ guaranteeing grocery
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The Halo Effect The ‘halo effect’ is the idea that global evaluations about a person (she is likeable) bleed over into judgments about their specific traits (she is intelligent) (Dean‚ 2007). I found it fascinating how such a simple concept can influence our thought process towards other people’s specific traits. An example of this is what people think of celebrities. A majority of celebrities are seen as attractive. Because people find them attractive‚ they assume that they are intelligent
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Chapter 13 Segment and Interim Reporting Multiple Choice Questions Wakefield Company uses a perpetual inventory system. In August‚ it sold 2‚000 units from its LIFO-base inventory‚ which had originally cost $35 per unit. The replacement cost is expected to be $45 per unit. The company is planning to reduce its inventory and expects to replace only 1‚500 of these units by December 31‚ the end of its fiscal year. The company replaced 1‚500 units in November at an actual cost of $50 per unit
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when using either GAAPs. With that mentioned‚ the following differences exist between the US GAAP and IFRS (International GAAP). Inventory Measurement GAAP clarifies that inventory value is measured based on FIFO‚ LIFO and weighted average method‚ but IFRS does not allow the use of LIFO method. Recognition of Revenue from Services GAAP accepts the money as revenue when total services are provided and contract of services is completed‚ however if there is work pending under the service contract
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Safeway Co. Evaluation Safeway has always been one of the most popular supermarket chains in the United States. They have been on the Fortune 500 top 100 list many years running. The store has many competitors‚ but none as great as Wal-Mart. Wal-Mart is able to offer below market prices to its customers that Safeway cannot do without it eating into their profits‚ but Safeway has been very fortunate with its customer loyalty and offering quality products that the other chains are not offering
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EXCELSIOR UNIVERSITY JOSEPH S. SPERANZA MODULE 1 ASSIGNMENT 1 “GAAP VERSUS IFRS” ACC211/ FINANCIAL ACCOUNTING MRS. SMITH 13 JAN 13 The United States Generally Accepted Accounting Principles (U.S. GAAP) and the International Financial Reporting Standards (IFRS) are both effective ways to report financially account for one’s business assets but they have several differences. in this paper I will attempt to outline a few of the more significant differences and allow you to make up your mind
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Ford Motor Company Acc 422 Let’s take a look on the finical statement of Ford Motor Company. Ford Motor was one of the only automobile companies that is making a profit and did not have to take any money from the government to stay afloat from demise. Looking at the financial statements we will evaluate Ford Motor Company in detail in reference to the disclosures seen in relation to the cash and cash equivalents‚ receivables‚ and inventory. This paper will discuss the numerous disclosures that
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Industry Averages and Financial Ratios Paper Connie Addison‚ Christine Crocker‚ Kimberly Guy‚ Felicia Lombard‚ and Shavelle Woods FIN 370 January 12‚ 2015 Shamelda Pete Industry Averages and Financial Ratios Industry averages and financial ratio reports determine the financial health of an organization. Solvent‚ efficiency‚ and profitability are compared by key financial indicators and ratios that measure several companies within the same industry. The publicly traded company chosen by Team A is
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