For each discussion, you must create one initial post and follow up with at least two response posts.

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Revisit the article Fair Value Under Fire and consider other resources used throughout the course. Discuss the potential impacts of fair value within the professional field. What should be considered in regard to fair value accounting and whether it is the best decision for the company? What information would be most valuable to management, lenders, and investors as it relates to fair value or other concepts covered in the course?

In your responses to your peers, discuss the impacts of fair value as they relate to organizations that regulate accounting practices. What should businesses do to ensure alignment with them in their accounting practices?

Overview

Your active participation in the discussions is essential to your overall success this term. Discussion questions will help you make meaningful connections between the course content and the larger concepts of the course. These discussions give you a chance to express your own thoughts, ask questions, and gain insight from your peers and instructor.

Directions

For each discussion, you must create one initial post and follow up with at least two response posts.

For your initial post, do the following:

  • Write a post of 1 to 2 paragraphs.
  • In Module One, complete your initial post by Thursday at 11:59 p.m. Eastern.
  • In Modules Two through Eight, complete your initial post by Thursday at 11:59 p.m. of your local time zone.
  • Consider content from other parts of the course where appropriate. Use proper citation methods for your discipline when referencing scholarly or popular sources.

For your response posts, do the following:

  • Reply to at least two classmates outside of your own initial post thread.
  • In Module One, complete your two response posts by Sunday at 11:59 p.m. Eastern.
  • In Modules Two through Eight, complete your two response posts by Sunday at 11:59 p.m. of your local time zone.
  • Demonstrate more depth and thought than saying things like “I agree” or “You are wrong.” Guidance is provided for you in the discussion prompt.

The article can be found here:

https://eds-s-ebscohost-com.ezproxy.snhu.edu/eds/detail/detail?vid=0&sid=91a4dead-a9a7-49b6-ae73-2c4693e17326%40redis&bdata=JnNpdGU9ZWRzLWxpdmU%3d#AN=35654509&db=bth

Statement of Comprehensive Income and Profit & Loss Account

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Comprehensive Income

Smart Home Appliances Inc.
Statement of Comprehensive Income and Profit & Loss Account
For the Year Ending 2021
Particulars2021
Sales600,000
Cost of sales (Puchases, Inv) N1400,000
Gross Profit200,000
Expenses
Salaries/Wages10,000
Depreciation/Amortization N25,000
Rent8,000
PBIT177,000
Interest expenses N331,535
Tax expenses N437170
Net Income108,295
N1- The cost of sales is comprised of purchases less closing inventory. There is no opening inventory as this is first operational year
N2- The depreciation expense are reduction in value of Property, Plant, Equipment assets based on straightline method at rate of 10%
N3- The interest expense is comprised of short-term, long-term, and bonds loans at BBB rating which 6.42, plus 1% other tiers
N4- The tax is charged based on corporate tax rate 21%

Balance sheet

Smart Home Appliances Inc.
Statement of Financial Position
At the Year Ended 2021
PartciularsAmountParticularsAmount
Current AssetsCurrent Liability
Cash at hand2,000Short term debt75,000
Cash at bank30,000Payables25,000
Short-term Inv70,000Total Current L100,000
Inventory35,000Non-Current Liab
Receivables13,000Long-term loans300,000
Total Current A150,000Bonds Payables125,000
Non-CurrentLong-term lease116,705
PPE500,000Total Non Current L541,705
Acc Dep @ 10%5,000Equity
Net PPE495,000Shareholders’ Equity250,000
Patents105,000Retained earnings108,295
Long-term Inv100,000Total Equity358,295
Goodwill150,000
Total Non Current850,000Total Liabilities641,705
Total Assets1,000,000Total Equity & Liab1,000,000

Collect information on the price (use MSRP less 10% as the company is making a bulk purchase).

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Your company is considering purchasing a fleet of 10 vehicles for the sales staff. You have been tasked with obtaining information and performing the analysis. Currently, the company reimburses employees for the use of their personal vehicle at $.55 per mile. Each of the sales staff (10 of them) averages approximately 500 per week over the course of the year. The purpose of the vehicles is to support sales staff in the DFW area for at least five years. The cars should be a mid-level style. You should select one from three different auto manufacturers and select at least one EV.

  1. Collect information on the price (use MSRP less 10% as the company is making a bulk purchase).
  2. Collect information on the MPG/electric charge costs (use gas prices at $3.20 per gallon that will
    increase 3% over the next 5 years) (Research EV charge costs at a charging station- adjust for a
    3% increase over the next 5 years)
  3. Make reasonable estimates on maintenance costs over the five-year period.
  4. Insurance is set at $80 per month and will increase 3% over the next 5 years.
  5. Assume your interest rate is 5.25% for purchase with an estimated salvage value of 30% of
    original cost.
  6. Consider how much the company will save/spend for the fleet over the course of one year, five
    years.
  7. Consider if the project has a positive NPV, IRR, Payback with any cost savings.
  8. Discuss qualitative aspects of this decision.

JETBLUE AND THE NEW REVENUE RECOGNITION STANDARD

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CASE: A-231 DATE: 07/01/17

Emily Booth, Professor Elizabeth Blankespoor, and Jaclyn Foroughi, CFA, prepared this case as the basis for class discussion rather than to illustrate either effective or ineffective handling of an administrative situation.

Copyright © 2017 by the Board of Trustees of the Leland Stanford Junior University. Publicly available cases are distributed through Harvard Business Publishing at hbsp.harvard.edu and The Case Centre at thecasecentre.org; please contact them to order copies and request permission to reproduce materials. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means –– electronic, mechanical, photocopying, recording, or otherwise –– without the permission of the Stanford Graduate School of Business. Every effort has been made to respect copyright and to contact copyright holders as appropriate. If you are a copyright holder and have concerns, please contact the Case Writing Office at businesscases@stanford.edu or write to Case Writing Office, Stanford Graduate School of Business, Knight Management Center, 655 Knight Way, Stanford University, Stanford, CA 94305-5015.

JETBLUE AND THE NEW REVENUE RECOGNITION STANDARD

The core principle of Topic 606 is that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.

—Financial Accounting Standards Board (FASB) Accounting Standards Codification® (ASC) 606-10-05-31

In May 2014, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) issued a converged standard on revenue recognition (ASC Topic 606 and IFRS 15, respectively) aimed at ameliorating difficulties associated with determining when to recognize revenue and at what amount. Prior revenue recognition standards applied broad concepts together with a variety of requirements for specific industries or types of transactions, sometimes resulting in divergent accounting for economically similar transactions.2 In contrast, the new standard outlined a single comprehensive model to use in accounting for revenue from contracts with customers. Although the new standard simplified the guidelines down to one framework, it also generally required firms to use more judgment and estimation than prior guidance.

1 Financial Accounting Standards Board, “Revenue from Contracts with Customers (Topic 606),” Financial Accounting Series, No. 2014-09, May 2014, p. 2. 2 The original effective date for the converged guidance was January 1, 2017, for calendar-year public business entities while private companies were given an additional year to implement the new standard. In August 2015, FASB deferred the effective date of the new revenue recognition standard by one year, with early adoption permitted as of the original effective date. Due to the transitional nature of the implementation process, this case study refers to revenue recognition standards effective prior to the issuance of the new standard as “prior revenue recognition standards” although private companies were permitted to implement “prior” standards until the end of 2018.

For the exclusive use of L. WEN, 2023.

This document is authorized for use only by LIHENG WEN in Acct 3250 Section 3 Spring 2023 taught by ASAD YAVARI, California State University – Los Angeles from Jan 2023 to Jun 2023.

 

 

JetBlue and the New Revenue Recognition Standard A-231

 

p. 2

In its second quarter of 2014 financial statement filed with the Securities and Exchange Commission (SEC) in August 2014, New York-based airliner JetBlue Airways Corporation (JetBlue) [NASDAQ: JBLU] acknowledged the new revenue recognition standard. While it had yet to determine the full impact of adoption, changes were imminent.

THE NEW REVENUE RECOGNITION STANDARD

At its core, the new standard stated that revenue should be recognized when there is a transfer of promised goods or services to customers, and that the amount is what the firm expected to receive in exchange for those goods or services. To achieve this objective, the boards developed a five-step model:

Step 1: Identify the Contract(s) with a Customer A contract does not have to be written; instead, it can also be oral or implied. A contract does, however, need to create enforceable rights and obligations. In addition, the parties need to approve the contract and be committed to perform, and rights and payment terms must be identifiable. Finally, it must be probable that the firm will collect substantially all of the consideration. Step 2: Identify the Performance Obligations in the Contract The performance obligation is the primary unit of account and is used to determine how much revenue to recognize and when to recognize that revenue. After identifying the contract, the firm identifies what goods and services are promised in the contract, such as the sale of goods produced, resale of goods purchased, or performing a contractually agreed upon task for a customer. Promised goods or services are separate performance obligations if they are distinct (see Exhibit 1 for an illustration regarding distinct good or services). The promises can be oral, explicit in the contract, or can even be implied by customary business practices (e.g., if a firm sells a car and usually also provides free maintenance for the car, that could be considered a promise). After determining the promises in the contract, a company then determines if the promises are distinct. A promise can only be a performance obligation if it is distinct, meaning it is both: (1) capable of being distinct and (2) distinct in the context of the contact. Capable of being distinct A good or service is capable of being distinct if a customer can benefit from the good or service on its own (whether used, consumed, or sold) or with readily available resources. These could be resources sold separately by the firm or others in the market, or resources already provided by the firm in the contract. The timing of delivery of goods and services can also affect whether the customer can benefit from the good or service. For example, suppose a firm sells a television (TV) and a customized remote control. The firm only sells the TV and remote control together, and no one else sells either product. The customer can use the TV by manually turning it on and off without the remote, but the remote provides no value to the customer without the TV.

For the exclusive use of L. WEN, 2023.

This document is authorized for use only by LIHENG WEN in Acct 3250 Section 3 Spring 2023 taught by ASAD YAVARI, California State University – Los Angeles from Jan 2023 to Jun 2023.

 

 

JetBlue and the New Revenue Recognition Standard A-231

 

p. 3

 Case 1: The firm delivers the TV first, and the remote control second. In this case, there are two performance obligations. The customer benefits from the TV on its own and from the remote control using a readily available resource—the TV.

 Case 2: The entity delivers the remote control first, and the TV second. In this case, there is only one performance obligation. The remote control provides no benefit to the customer either on its own or with readily available resources (because the TV has not been delivered yet).

Distinct within the context of the contract The second part of being distinct is whether the good or service can be separated from other promises in the contract—distinct within the context of the contract. To determine this, the firm should identify what the customer actually expects to receive as the final product. Some contracts have promises for multiple goods, but the customer is not purchasing individual items—just one final item. To be separable, the items must not be any of the following: (1) an input to produce or deliver a combined final product, (2) a significant modification to another item in the contract, or (3) highly interrelated with other items in the contract. For example, when constructing a building, a contractor might design the building, clear the site, construct the structure, and install electrical and plumbing fixtures. Although the contractor sells these services individually, making them capable of being distinct, they are likely not distinct within the context of the contract. The contractor’s main service is to integrate these components and deliver a building, which suggests that the items are used as inputs for one final product. This means the building is one performance obligation. Customer options Contracts may include options for the customer to purchase additional goods or services at some point in the future. These options or marketing incentives are separate performance obligations if they provide a material right that the customer would not otherwise have (such as discounted or free services, hotel loyalty points, a year of “free” car maintenance, or contract renewal options). The performance obligation is the option itself, rather than the underlying goods and services for which the option represents. Revenue is recognized when future goods and services are transferred or when the option expires. Immaterial promises If a promise is immaterial from the customer’s perspective, the firm does not have to consider it as a separate performance obligation. Step 3: Determine the Transaction Price The transaction price is the amount an entity expects to be entitled to in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of third parties. The transaction price is straightforward when the contract is for a fixed amount. For example, if a firm contracts with a customer to construct a building for $5,000, the transaction price is $5,000.

For the exclusive use of L. WEN, 2023.

This document is authorized for use only by LIHENG WEN in Acct 3250 Section 3 Spring 2023 taught by ASAD YAVARI, California State University – Los Angeles from Jan 2023 to Jun 2023.

 

 

JetBlue and the New Revenue Recognition Standard A-231

 

p. 4

The transaction price becomes more complex when the contract includes variable consideration, i.e., when the amount to be received is contingent on a future event and must be estimated (e.g., bonuses, refunds, rebates, discounts, and penalties). For example, a firm contracts with a customer to construct a building for $5,000, plus the entity will receive a $1,000 bonus if the job is finished before the end of the year. In this case, the transaction price could be either $5,000 or $6,000—the entity needs to estimate how much of the variable consideration to include ($0 or $1,000). The bonus is variable because it is contingent on a future event: finishing the building before the end of the year. The standard describes two methods to estimate variable consideration. Companies should use the method that better predicts the consideration based on its facts and circumstances, using all information that is reasonably available (historical, current, and forecast).  Expected value – the sum of the probability-weighted amounts in a range of possible

considerations. This approach may be appropriate if the entity has a large number of contracts with similar characteristics. Using the example above, the contractor will receive $5,000 for construction of the building plus a $1,000 bonus if completed by the end of the year, a $500 bonus if completed by the first quarter of next year, and a $100 bonus if completed by the second quarter of next year. The contractor believes there is a 70 percent chance of finishing by the end of the year, a 20 percent chance of finishing by the first quarter of next year, and a 10 percent chance of finishing by the second quarter of next year. The expected value is as follows:

$5,000 + $1,000 = $6,000 x 70% = $4,200 $5,000 + $500 = $5,500 x 20% = $1,100 $5,000 + $100 = $5,100 x 10% = $510 Total probability-weighted consideration = $5,810

 Most likely amount – the most likely amount in a range of possible outcomes. This may be

appropriate if the variable consideration has a discrete number of outcomes. In this example, the contractor either will or will not receive the bonus, depending on when the job is finished. If the contractor believes it is more likely that the job will be finished by the end of the year, the transaction price would be $6,000 ($5,000 + $1,000).

When determining the transaction price, management should assume that the contract will be fulfilled as agreed upon and not cancelled, renewed, or modified. In addition, variable consideration should only be included in the price to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. When evaluating whether variable consideration should be included, firms should consider both the likelihood and magnitude of a revenue reversal. Step 4: Allocate the Transaction Price to the Performance Obligations in the Contract The new standard requires that the transaction price be allocated to each separate performance obligation based on relative standalone selling prices determined at contract inception and not

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This document is authorized for use only by LIHENG WEN in Acct 3250 Section 3 Spring 2023 taught by ASAD YAVARI, California State University – Los Angeles from Jan 2023 to Jun 2023.

 

 

JetBlue and the New Revenue Recognition Standard A-231

 

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adjusted to reflect subsequent changes in the standalone selling prices. The standalone selling price is the price at which a company would sell a promised good or service separately to a customer. Allocation based on standalone selling prices is generally consistent with prior practice, except the new standard no longer prescribes a hierarchy for estimating the standalone selling price. Step 5: Recognize Revenue When (or as) the Entity Satisfies a Performance Obligation The new revenue recognition model is a control-based model, in which control means being able to direct the use of an asset and obtain substantially all the remaining benefits from the asset. Control is not the same as risks and rewards (although risks and rewards are a part of control), nor is it the same as culmination of an earnings process like prior revenue recognition. Revenue is recognized upon satisfaction of a performance obligation by transferring control of the promised good or service to a customer. Performance obligations are either satisfied over time or at a point in time. Generally, the sale of a good will be recognized at a point in time and the sale of a service will be recognized over time, but this is not always the case. A company transfers control of a good or service (and thus satisfies a performance obligation) over time if any one of the following criteria was met:  The customer simultaneously receives and consumes the benefits provided by the firm’s

performance as the firm performs. If the firm were to stop performing and another firm resumed the contract, would the new entity have to redo the first entity’s work? (e.g., services—the customer receives and consumes the benefit of the service as the entity performs)

 The firm’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced. If the firm were to stop performing, would the customer be able to control the work that has been done to date? (e.g., a construction company contracts with a customer to build a house on land that the customer owns)

 The firm’s performance does not create an asset with an alternative use to the firm, and the firm has an enforceable right to payment for performance completed to date. If the customer suddenly canceled the contract, would the firm be able to sell the asset to another customer without incurring significant cost? (e.g., a firm creates a highly specialized asset for a customer)

If none of the above over-time criteria are met, then the performance obligation is satisfied at the point in time when the customer obtains control of the promised good or service. Unexercised Rights Firms that receive prepayments from customers should recognize a liability until the performance obligation has been satisfied. However, if the firm expects some customers not to exercise their right to the good or service, the firm should recognize the expected breakage amount as revenue in proportion to the pattern of rights exercised by the customer. Because breakage essentially causes the consideration for each performance obligation to be variable,

For the exclusive use of L. WEN, 2023.

This document is authorized for use only by LIHENG WEN in Acct 3250 Section 3 Spring 2023 taught by ASAD YAVARI, California State University – Los Angeles from Jan 2023 to Jun 2023.

 

 

JetBlue and the New Revenue Recognition Standard A-231

 

p. 6

revenue should only be recognized if it is probable there will not be a significant reversal of revenue. Contract Modifications Unlike prior U.S. Generally Accepted Accounting Principles (GAAP), the new standard also provides explicit guidance on accounting for contract modifications. A contract modification includes changes in the goods and services to be provided, the price, or both. If the new goods and services are distinct (as defined earlier) and are offered at the standalone selling price, they should be recognized as a separate contract. If they are distinct but not provided at the standalone selling price, the old contract has effectively been ended and a new contract created. Any unrecognized revenue from the old contract should be allocated to the remaining goods and services and recognized along with the new revenue over the new contract period. Finally, if the new goods and services are not distinct, the estimate of the price and the measure of progress are simply updated to incorporate the change in the contract. Disclosures Under prior U.S. GAAP, there are few requirements for revenue disclosures. This makes it extremely difficult for users to understand a firm’s revenues, as well as the judgments and estimates made in recognizing those revenues. The goal of the new disclosure requirements is to help users understand the nature, amount, timing, and uncertainty of revenue and cash flows from contracts with customers. Under the new standard, firms will provide qualitative and quantitative information about contracts with customers, significant judgments, and assets from capitalized costs.

AN ANALYSIS OF THE IMPACT ON JETBLUE

Overview of Revenue Sources and Revenue Recognition Policies

JetBlue was an American passenger carrier company that provided air transportation services across the United States, the Caribbean, and Latin America. JetBlue entered into several contracts with customers with the principal activity being traveling from one location to another. A single passenger revenue transaction could have contained three types of goods or services: the flight transportation, frequent flyer award miles, and ancillary services. Revenue for flight transportation was recognized either when transportation was provided or after the ticket or customer credit expired (where expiration of the ticket or credit without use was called “breakage”). If passengers did not show up to their flight, the ticket expired at the time of the flight. If passengers canceled a nonrefundable ticket prior to the flight, their flight credits were good for one year after the date of the flight. Tickets sold but not yet recognized as revenue and unexpired credits were included in air traffic liability on the consolidated balance sheets. JetBlue prepared its financial statements in accordance with U.S. GAAP (see Exhibit 2 for JetBlue’s 2015 financial statements).

For the exclusive use of L. WEN, 2023.

This document is authorized for use only by LIHENG WEN in Acct 3250 Section 3 Spring 2023 taught by ASAD YAVARI, California State University – Los Angeles from Jan 2023 to Jun 2023.

 

 

JetBlue and the New Revenue Recognition Standard A-231

 

p. 7

Pricing Model In June 2015, JetBlue launched its new pricing model, Fare Options. Customers could purchase tickets at one of three branded fares: Blue, Blue Plus, and Blue Flex. Each fare included different offerings such as free checked bags, reduced change fees, and additional TrueBlue® points (see Customer Loyalty Program below), with all fares inclusive of free in-flight entertainment, snacks and non-alcoholic beverages. JetBlue also provided a premium product called “Mint,” which offered customers a business-class experience. Customer Loyalty Program Under JetBlue’s frequent-flyer program, points were awarded based on dollars spent on a flight. According to JetBlue’s 2015 annual report:

TrueBlue® is JetBlue’s customer loyalty program designed to reward and recognize loyal customers. Members earn points based upon the amount paid for JetBlue flights and services from certain commercial partners. The points do not expire, the program has no black-out dates or seat restrictions, and any JetBlue destination can be booked if the TrueBlue® member has enough points to exchange for the value of an open seat. Mosaic® is an additional level for the most loyal customers who either (1) fly a minimum of 30 times with JetBlue and acquire at least 12,000 base flight points within a calendar year or (2) accumulate 15,000 base flight points within a calendar year. Over 1.4 million TrueBlue® one-way redemption awards were flown during 2015, representing approximately 4 percent of the total revenue passenger miles.3

Accounting Career Paper Accounting 101

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Accounting Career Paper Accounting 101

Description:  3 to 5 page paper on a specific career in Accounting

Please choose one of these careers, or another career related to accounting:

  • Accountant
  • Business Teacher
  • Public Accountant (CPA)
  • Chief Financial Officer
  • CIA Agent
  • Claim Adjuster/Examiner
  • Commercial Banker
  • Computer Programmer
  • Consumer Credit Officer
  • Estate Planner
  • FBI Agent
  • Financial Analyst
  • IRS Investigator
  • Lawyer
  • Loan Officer/Consumer Credit
  • Personal Financial Planner
  • Professor
  • Securities Broker
  • Tax Supervisor/Auditor

Requirements for this assignment:

  • At minimum, 3 pages, double spaced.
  • The reason why you choose the career.
  • The type of person who would do well in this career.
  • The educational requirements of this career.
  • The skill requirements in this career.
  • Any necessary certifications and how they are obtained, for this career.
  • The salary expectations in this career.
  • Find a job posting for a similar job and include a link or the advertisement with your paper
  • Please note it is important that students not participate in plagiarism of any kind.  Cite any sources using APA standards.   Pease see examples of citations at the end of these instructions.
  • All papers must be submitted through Brightspace so originality can be verified through Safe Assign

Principles of Accounting I

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ACT 211, Principles of Accounting I

Ethics and Social Responsibility

Sarbanes-Oxley Act of 2002

 

Like all structures, accounting requires a strong foundation. For accounting, part of that foundation is the ethical behavior of those who practice its rules. Ethics refers to a code or moral system that provides criteria for evaluating right and wrong behavior: Investors, creditors, government, and the general public rely on ethical behavior among those who record and report the financial activities of businesses. A lack of public trust in financial reporting can undermine business and the economy.

 

The dramatic collapse of Enron in 2001 and the dismantling of the accounting firm Arthur Andersen in 2002 severely shook investors’ confidence in the stock market. Some questioned the creditability of corporate America and well as the accounting profession.

 

Public outrage over a number of accounting scandals at high-profile companies increased the pressure on lawmakers to pass measures that would restore creditability and investor confidence in the financial reporting process. These pressures resulted in the issuance of the Public Company Accounting Reform and Investors Protection Act on 2002, commonly referred to as the Sarbanes-Oxley Act (SOX), named for the two congressmen who sponsored the bill.

 

On July 30, 2002 President Bush signed into law the Sarbanes-Oxley Act of 2002 (H.R. 3763). This law affects the accounting profession like no bills enacted since The Security Exchange Acts of 1934 and the Securities Act of 1933. It is a federal law that mandates certain practices in financial record keeping and reporting for corporations.

 

The Sarbanes-Oxley Act provides for the regulation of auditors and the types of services they furnish to clients, increases accountability of corporate executives, addresses conflicts of interest for securities analysts, and provides for stiff criminal penalties for violators. These increased requirements have dramatically increased the need for good accounting and, at the same time, highlighted the value of accounting information to investors and creditors.

This law contains eleven provisions (Titles I-XI) that place requirements on all U.S. public companies and their management and boards of directors, as well as public accounting firms. A number of provisions also apply to privately held companies, such as the willful destruction of evidence to impede a federal investigation.

Please familiarized yourself with the bill. Use the link below to assist in completing this assignment: https://www.congress.gov/bill/107th-congress/house-bill/3763

 

In addition to the Sarbanes-Oxley act, the United States Occupational Safety and Health Administration (OSHA), administers and enforces the Whistleblower provisions of more than twenty (20) statutes including financial reform. These statutes protect employees from retaliatory actions administered by employers. You can read more here: https://www.whistleblowers.gov/

 

Important as such legislation is in supporting the ethical foundation of accounting, it is equally important that accountants themselves have their own personal standards for ethical conduct. Accountants need to develop their ability to identify ethical situations and know the difference between right and wrong in the context of accounting topics. One of the keys to ethical decision making is having an appreciation for how your actions affect others.

 

When you face ethical dilemmas in your professional life (and also personal life), you can apply the following framework as you think what to do:

 

I. Identify the ethical situation and the people who will be affected (the stakeholders).

II. Identify prevailing frameworks (laws, standards, codes, etc.) to use as a guide.

III. Specify the options for alternative courses of action.

IV. Understand the impact on the stakeholders.

V. Decide on the best course of action.

 

 

Required:

 

Complete requirements 1-5 below. Be sure to provide thorough answers by addressing each of the prompts. You will be required to identify specific elements of Sarbanes-Oxley (1-4) as outlined in each requirement.

 

1. Title I, requires the establishment of the Public Company Accounting Oversight Board (PCAOB). Provide an overview of Title I and its major sections.

 

2. Title II, Section 201, dictates that auditors providing audit services are not to render certain services to the company client. Further, the law requires preapproval by the audit committee for those non-audit services that are not expressly forbidden by this Act. There are eight specific services that are outside the scope of practice of auditors (prohibited activities). Please list, explain, and include the importance of prohibiting these activities. See the SEC link here for expanded information. https://www.sec.gov/info/accountants/audit042707.htm

 

3. Title II, Section 203 outlines the rule for audit partner rotation. Please explain the proposed rule and why this provision is deemed important.

 

4. Title IV, Section 404 specifies important work required by auditors during the course of an audit. Please explain. Include in your explanation, how this information is communicated to the public and users of financial statements.

 

5. Required: Address the ethical dilemma below by applying the framework above to solve the problem.

 

Ethical Dilemma: You work for a large publicly-held corporation as a staff accountant. You recently became a licensed CPA in the state of Massachusetts and you are bound by a code of ethics and rules of professional conduct.

 

a. Three months ago, a new CFO was hired. She is very experienced and receives substantial compensation package in the form of salary and bonuses paid in shares of company stock. She is a dynamic leader. She seems to like your work. At last month’s team building event, she engaged in a private conversation with you, indicating that she thought that you were a great candidate for a future promotion to a management position.

 

b. Last week, at the end of the quarter, she called you into her office and verbally informed you that a substantial liability was overstated and instructed you to make an adjusting journal entry. As a result of the adjustment, quarterly net income increased ten percent. During the quarter, there was a substantial drop in sales. This adjustment would more than cover the decrease in sales. In fact, it would substantially boost the favorability of the stock.

 

c. This adjustment seems to be out of the range of normal for the company and you feel uncomfortable. This is a delicate situation. You do not want to lose your job by not following directions of the CFO but you also do not want to violate any ethical standards or company policies.

 

d. You are aware of the Sarbanes-Oxley Act and you review the provisions to determine if this adjustment is in violation of any of its provisions. You also review the company policies for guidance. Please provide an explanation of possible requirements and/or violations, as outlined in the law. Consider internal controls that may be in place by the company given the dollar magnitude of the adjustment. Consider the information that you may need to substantiate making the adjusting entry and how you will respond to the request of the CFO. Use the framework outlined above to decide on the best course of action.

 

Note: As part of completing this assignment, please review the University’s academic integrity policies to avoid unintentional plagiarism.

The final paper may not exceed three pages in length (double spaced), plus any exhibits.

Essay about Economic Geography in KwaZulu Natal , The local informal sectors and umployment

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Essay about Economic Geography in KwaZulu Natal , The local informal sectors and unemployment

1.creat hypothesis.
2.  geographical map for research area and background information on hypothesis.
3.Data collection.  Analysis and synthesis including presentation of Data .
4. Recommendations.  possible solutions to the hypothesis

THE ROLE OF THE NURSE INFORMATICIST IN SYSTEMS DEVELOPMENT AND IMPLEMENTATION

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THE ROLE OF THE NURSE INFORMATICIST IN SYSTEMS DEVELOPMENT AND IMPLEMENTATION

teacher’s introduction:

Assume you are a nurse manager on a unit where a new nursing documentation system is to be implemented. You want to ensure that the system will be usable and acceptable for the nurses impacted. You realize a nurse leader must be on the implementation team.
 
 

To Prepare:

  • Review the steps of the Systems Development Life Cycle (SDLC) and reflect on the scenario presented.
  • Consider the benefits and challenges associated with involving a nurse leader on an implementation team for health information technology.

The Assignment: (2-3 pages not including the title and reference page)

In preparation of filling this role, develop a 2- to 3-page role description for a graduate-level nurse to guide his/her participation on the implementation team. The role description should be based on the SDLC stages and tasks and should clearly define how this individual will participate in and impact each of the following steps:

  • Planning and requirements definition
  • Analysis
  • Design of the new system
  • Implementation
  • Post-implementation support
  • Use APA format and include a title page and reference page.
  • Use the Safe Assign Drafts to check your match percentage before submitting your work.

Diversity and Cultural Environment at UCI

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Diversity and Cultural Environment at UCI

This quarter we will be studying the topic of organizational culture problems and solutions for
these problems. We are also studying the topic of organizational change (which is near the end
of the quarter) For THIS project, we will be using material from class and the book to
investigate how UCI is managing to create and maintain a diverse, inclusive and welcoming
culture. Your group will be acting as “I-O psychology consultants”; you will need to think and
write in a professional manner and do some research on what I-O Psych reports would look like
to make sure that your work is professional. Please be very careful to not allow personal
thoughts/agendas or opinions or politics into this work as that will certainly make your work
ungradable.
Overview of Assignment:
The UC system is committed to creating a fair and equitable environment for all members of the
community. To quote UCI’s website: “UCI is committed to excellence through diversity and to the
goal of reflecting diversity in our faculty, student and staff populations, as well as our teaching, research
and public service endeavors.” In class we have discussed the ways that the UC system ensures
diversity through employment and hiring practices and in the procedures it uses to attract and
select new students. Assuming that this process has worked well, then we should have a highly
diverse, inclusive and welcoming campus community AND we should have a culture that
supports diversity at all levels (we have discussed this in class).
For THIS two step project, we are going to first evaluate the campus based sanctioned and
funded resources that are available that support our diverse campus community. Your FIRST
report will relate to this.
ASSIGNMENT #1
Please do a search of organizations at UCI that are related to addressing and improving diversity
and/or supporting diversity on our campus. In particular we are looking for UCI funded/
sanctioned organizations (or resources) that provide support to campus community members who
come from minority, marginalized, or traditionally under-represented backgrounds. We have
organizations on campus that provide support to staff, faculty, students and other campus
community members and often these organizations are separate from each other. We also have
many, many student run organizations/groups that are for fellowship and support, but we are
going to exclude these as they are wonderful, but not quite what we are investigating. (please
pay attention to the directions in class to ensure that you are focusing on the correct groups)
Your I-O consulting group needs to research and find at least TEN different campus based
organizations (that support or provide resources to marginalized or minority/traditionally
under-represented groups) and provide us with details as to what they do, why they were
formed, who they serve and how they contribute to a more welcoming and diverse campus.
(see questions below that need to be answered for EACH of these groups) Here’s a short list of
links I found, but do look further as there’s a LOT going on at UCI: https://www.camp.uci.edu/,
https://uci.edu/diversity/index.php , https://www.oeod.uci.edu/resources/affinity.php , https://
ccc.uci.edu/, https://sites.uci.edu/decadesocsci/resources/school-organizations/, https://
inclusion.bio.uci.edu/programs/, https://blackcultures.uci.edu/bloc-organizations/ https://
inclusion.uci.edu/climate-councils/ (note, this is not in any way a complete set of places to lookit’s a place to start, which – by the way – is a HUGE issue – how difficult it is to get this info!!!)
Once you tell us about some of the organizations that ARE available at UCI, then please speak as
consultants and discuss your thoughts on how these various programs are working to improve the
campus culture and climate for a wide range of individuals. If you feel there are areas that are
not being properly addressed, please note that as well. Please refrain from inappropriate
statements, political statements, expressions of need for support for majority cultures or other
discussions that are not on topic for this project.
Your submission should include the following:
1) Introduction – who are you (I-O Psych consultants) and what is the purpose of this
project (why are you doing this – we will discuss this in class)
2) Brief discussion of the overall campus climate related to diversity and inclusion and
the perception on campus of minority, marginalized and traditionally underrepresented groups being able to find support and a welcome environment on
campus (you will be using data from the UCI campus climate survey and the UCUES
survey to correctly report on this and you will need to refer to this data so we know that
you are using it.
3) Provide a sample list of organizations and resources that provide support to
members of our campus community who identify as members of traditionally
under-represented or minority/marginalized groups. PLEASE clearly label each
organization/resource and please provide live links to the organization’s information/
website within each description Be clear that this list is just a sampling and is not
complete. Try to include a wide range of organizations to show that many different
populations are being represented and supported on campus. Please stay away from ANY
STUDENT ORGANIZED GROUPS as we are looking for campus funded organizations
that are specifically providing support and resources and are well established and
managed by some form of campus staff. Please also avoid groups like transfer students’
groups, religion related groups, sport related groups, etc. Please keep your focus on the
UCI sanctioned and funded organizations and resources that support people who are part
of a minority population or traditionally under-represented group or a marginalized
group. If you are not sure, please check with a TA.
4) For each organization listed, please provide ALL of the following details (you can use
bullets, but please provide DETAILED information and don’t try to skimp, so these
would mostly be bulleted short paragraphs, not single sentences or words. Please use
formal/professional language and complete sentences. Please organize this by listing the
organization and then answering these questions and then moving on to the next
organization and answering these questions and so forth and so on)
a. What is the name of the organization/resource?
b. What population does this organization/resource serve on campus – be
specific and provide details and use complete sentences (for example, is it
targeted at just students, or…)?
c. Is this organization or resource targeted at this specific population only, or
does it provide assistance to a broader community (explain)?
d. What is the overall stated purpose of this organization/resource?
(summarize, don’t copy directly from websites)
e. What specific services/support/resources does this organization provide on
campus and to the campus community? Provide some recent examples.
f. Where is this organization/resource located and who runs this organization?
g. Where does the funding come from for this organization (please note if you
are unable to find this information, but also make sure you really looked)
h. When was this organization/resource founded or established?
i. What is the approximate membership or utilization of this organization or
resource (in other words – are there a LOT of students/staff/faculty who
benefit from this organization or just a few who qualify?)
j. Please discuss the data that this organization or resource has provided that
highlights its positive impact on the community it is targeted to support (you
may not be able to find this, but try anyway and make a note if you can’t find
it)
k. Is this organization redundant or does it overlap with the services provided
by other, similar organizations on campus?
5) Now please provide a one or two page summary that discusses your thoughts on how
these various programs are working to improve the campus culture and climate for
a wide range of individuals. If you feel there are areas that are not being properly
addressed, please note that as well. Write this in a professional tone – please remember
that you are I-O Psychology consultants who are writing a report that you are being paid
for – so use a professional tone throughout.
6) Please include a professional looking cover page that lists the names of all group
members and identifies this I-O Psychology project. And please remember to include
live links to the organizations/resources as well as you write about them (no need for a
reference section). This project will be many pages long – at least 12 pages or more (not
including the cover page)
7) Please make sure that your document is either a pdf document or a Word document.

Why do we sympathize with serial killers

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Why do we sympathize with serial killers

Your first research essay should be a fully completed work of 5 pages. Your topic may be related to the development of any idea that has already been expressed as part of the course; your thesis should be a synthesis of carefully documented research and critical analysis of this topic. The essay should incorporate the general parts of an academic essay—an introduction and thesis, a body of specific evidence/support/analysis, and a conclusion that emphasizes the answers to questions you may have asked within your research.

Your writing should address the Core Learning Outcomes of the course and the Instructor Specific Learning Outcomes, as specified on the syllabus. I have included them here for your convenience:

  1. Analyze the disciplinary content in its own context and in relationship to the issues, questions, and positions of other disciplines.
  2. Compare and contrast differences and similarities among the disciplines in terms of central concerns, values, methodologies, and relationships to public life.
  3. Synthesize diverse perspectives to achieve an interdisciplinary understanding.
  4. Analyze the relationships among academic knowledge, professional work, and the responsibilities of local and global citizenship.
  5. Interpret and critique the possible “real world” connections or behaviors associated with the viewing or playing of media violence.

Instructor Learning Outcomes

  1. Identify, discuss and critique the representations of serial killers as heroes, celebrities, and icons in modern media forms. Explain the characteristics of the media forms, genres, and methods for each subject.
  2. Describe and analyze the popular culture forms that encourage audience identification or participation through violence or vicarious experience.
  3. Evaluate multiple perspectives, modes of inquiry and expression, and processes for decision-making in the disciplines.

Specifics

Your essay should conform to the MLA format for citations within the text and in your works cited. Therefore, your writing should be double-spaced, with one-inch margins, in a 10-12-pitch font. The grading of this essay will be based upon the objective skills we have focused upon in our course lectures and discussions—incorporating your research sources seamlessly within your own writing, building upon your skills as a “close-reading” expert and analysis of your topic, and answering the larger questions about “why” we are studying serial killers as heroes (as well as, “why” your topic is popular? important? significant? worthy of study? definitive of its audience?)

Resources

You should carefully construct your essay by looking at the examples we have studied within our course—the popular culture essays that have been part of your reading assignments, our in-class examples, and the writing process that has been investigated in our class assignments (Reader Response Essays, Discussion Postings, etc).

 

Books
YOU (Caroline Kepnes)
Dexter (Darkly Dreaming)
Frankenstein (Mary Shelly)