In what ways are elements of the classical management and behavioral management approaches evident at Zara International? Inditex’s group known a ZARA had implemented elements of both classical management and behavioral management approaches. Starting off with the Classical Management‚ ZARA has used some of the principles of Henri Fayol’s Administrative principles. Building their business model to identify the following five “duties” of management‚ which are foundations for the four functions of
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Deferred Tax Assets There are a few accounting differences between tax (IRS) accounting and US GAAP accounting. Some differences cause deferred tax asset which is a future tax benefit. For example‚ say a firm currently is offering a special onetime 2-year warranty when a customer purchases its product. The firm estimates that over a 2-year period it is likely to spend a total of $200‚000 in warranty repairs. The following presents the reported income for this 2-year period using US GAAP rules:
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1. Features of Zara’s business model that affect its operating economics: • Zara owns much of its production and most of its stores‚ while competitors Gap and H&M own all of their stores but outsource all of their production. Benetton‚ on the other hand‚ owns all of its production but goes to market through licensing agreements. • Zara places more emphasis on backward vertical integration. Production runs are short and inventory is strictly controlled. This is in contrast to industry trends
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iDempiere Fixed Asset User Manual Created By Edwin Ang Created On June 12‚ 2012 Version 0.1 Introduction The iDempiere Fixed Asset extension package is developed based on the work of these three remarkable men: 1. Robert Klein‚ who developed the first ever Fixed Assets extension for Compiere 2. Teo Sarca‚ who modernized Robert Klein’s work to use Adempiere more modern document structure. His work was however not properly documented and was influenced with his country
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and Noncurrent Assets Paper Raquel Jimenez ACC/400 December 19‚ 2012 Instructor: Carl Schulz Abstract The purpose of this paper is to discuss current and noncurrent assets‚ define the differences and similarities between the two‚ and address what the order of liquidity is and how it applies to the balance sheet. In business an asset is defined as a property or equipment owned by a company that has a positive economic value. There are two main types of assets: current assets and non-current
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valuation and reporting of long-lived assets. IFRS permit the use of either the revaluation model or the cost model‚ while under GAAP; only the cost model is permitted. Revaluation model changes the carrying amount to fair value. But the assumption is the fair value can be measured reliably. P2 revaluation model& cost model A key difference between the two models is that the cost model allows definitely decreases in the values of long-lived assets‚ but the revaluation model may result
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Accounting Standards (AAS)‚ assets are carried on the financial statements at the higher of current market value or historical cost. | True | | False | The Australian Accounting Standards state the assets are to be ’carried on the books ’ (recorded) at what the firm paid for them. 2. Suppose KLM Inc. just received a patent on a new anti-cholesterol drug. This patent is an intangible fixed asset. | True | | False | Patents are intangible fixed assets. 3. A non-cash item is
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Accounting for public heritage facilities – assets or liabilities of the government? The Authors Allan D. Barton‚ Department of Commerce‚ Faculty of Economics and Commerce‚ Australian National University‚ Canberra‚ Australia Acknowledgements The author wishes to thank three anonymous referees for their constructive comments on earlier drafts of the paper. Abstract Public heritage facilities – national parks‚ art galleries‚ museums and so on – are now required by professional accounting
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of Assets Learn | Consult | Research Intangibles • Identifiable non-monetary asset without physical substance • IAS 38 prescribes special criteria for an asset to be recognized as intangible asset • Tangible or intangible must meet the criteria of asset to be recognized – Controlled by entity as a result of past event – Probable future economic inflow (revenue or cost saving) Recognition • Must meet the definition of asset • Must meet criteria set by IAS 38 – Cost of asset reliably
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In recent years there have been attempts to place a value on the "human assets" of a business with a view to determine an amount to be included on the balance sheet. Do you think people should be treated as assets? Would "human assets" meet the conventional definition of an asset for inclusion on the balance sheet? Explain your responses and provide examples for support. An asset is deemed as “essentially a business resources that has certain characteristics.” (Atrill et al pg. 80) The main Characteristics
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