Three Pigs Corporation Essay Example for Free

Three Pigs Corporation Essay * Relevant Facts 1. There are essentially three major categories of hog inventory—live hogs ready for sale, developing animals, and processed pork products. 2. Not all live hogs in other locations that cannot be easily transported and processed at the Company’s main processing plants. As a result, these live hogs must be sold to third parties at spot market prices. 3. There are several factors, including increased supply of pork due to the capture of the Big Bad Wolf, have lead to the declining prices for their live hog on the spot market. * Solution Analysis Complying with the periodicity assumption and the conservative principle, marking inventories down will better reflect the value of the inventory. There are several parts mentioned the inventory impairment in ARB43, Ch.4 Par.9: The rule of cost or market whichever is lower is intended to provide a means of measuring the remaining usefulness of an inventory expenditure. Inventory losses from market declines should not be deferred beyond the interim period in which the decline occurs. There are four alternatives to deal with this inventory case of the Company. i) Under the lower of cost or market method on a total inventory basis GAAP requires that the inventory be written down to the lower of cost or market when substantial evidence exists that market prices will recover before the inventory is sold. A write-down is generally required unless the decline is due to seasonal price fluctuations (FASB Cod. # 270-10-45-6). In this case, if it can be determined that the future prices for lean hogs decline only for a temporary period and will recover before the end of the fiscal year, the inventory could be record on a total inventory basis. However, IRS regulations say the types of items to be included in the same pool should be â€Å"substantially similar.† It seems that the three major categories of hog inventory are quite different products. It is not appropriate enough to put all of them into a single pool. ii) Under the lower of cost or market method based on end product category The method that marking down only live hogs that cannot be processed into pork products seems to be reasonable to some extents. The live hogs processing at the Company’s main processing plants do not need to make cost adjustment because the spot market does not affect their price while the other hogs that cannot be processed have to be marked down to reflect the value. ARB43, Ch.4 Par.11 â€Å"If there is only one end-product category the cost utility of the total stockThe inventory in its entiretymay have the greatest significance for accounting purposes.† However, there are three categories in this case. And the developing animals and live hogs to be processed internally and to be sold to third parties are not different in nature. Even though they will be with different price because of the different processed method, it is not appropriate to evaluate them separately. iii) Under the lower of cost or market method on an individual basis to the extent possible Although there are some advantages to evaluate at the individual level, such as accuracy, it is not a practical way. Firstly, the specific identification method may be practical only in a few situations in which units are costly and can be easily distinguished. The cost of each individual is not identifiable in this kind of complex manufacturing and retailing situation. Secondly, the method may become too expensive to use as the increase of the volume and the cost of record keeping. Thirdly, the amount of profit varies even though the units of inventory are identical. The ability of earnings management is not allowed under GAAP. iv) Under the lower of cost or market method by inventory category To evaluate the impairment of inventory under the lower of cost or market method by inventory category seems to be the most practical and reasonable method in this case. The lower of cost or market method is accurate only if the goods in the inventory are perfectly homogeneous. The Company’s inventory of three categories meets this criterion here. Markups and markdowns do not exist at the same time and all the marked-down items will be sold by the end of this fiscal year. * Conclusion My recommendation is that all hogs are impaired and can be marked down to reflect the value using the LCM by inventory category. Based on the analysis above, this seems to be the most appropriate method that would most accurately reflect the intent of US GAAP. * Interim reporting Interim financial information is essential to provide investors and others with timely information as to the progress of the entity. However, GAAP states clearly that temporary market declines need not be recognized at the interim date since no loss is expected to incur in the fiscal year. If the company recognizes a decline and then reverses it in a later interim period, it should recognize a loss recovery and increase the inventory value by the amount of the recovery, but only up to the original cost (FASB Cod. #270-10-45). In this case, the inventory price is expected to be recovered by the end of this fiscal year and should be sufficient to recover the cost of the Company’s inventory. Such temporary declines do not need to report in the interim report.

On Social Classes In Jane Austens Pride And Prejudice :: essays research papers

In the late eighteenth and early nineteenth centuries, life for the upper-middle class and the aristocracy was simple and comfortable, at least on the surface. Strict manners and “morals,'; that often prevented them from asserting or protecting themselves, bound these two classes of people. Such lifestyles are illustrated quite honestly in Jane Austen’s novel, Pride and Prejudice. The characters in this novel have comfortable lives on the surface; however, internally they are victims of their social status.   Ã‚  Ã‚  Ã‚  Ã‚  The husband and wife duo of Collins and Charlotte Lucas-Collins are two prime examples of this mentality. Collins, who is a minister, and bound by the social class of his benefactor, Lady Catherine, always puts on a faà §ade that makes him seem much classier than normal when he is around others. He constantly showed off his possessions. Charlotte, Collins’ wife, was not so much his wife by choice, but rather, out of necessity. Charlotte, a twenty-seven year old single woman nearly doomed to remain a spinster for the rest of her life, had to marry soon, and the only man that made a proposal was Collins, therefore she had to say yes.   Ã‚  Ã‚  Ã‚  Ã‚  Mrs. Bennet, the mother of Eliza, always hurriedly rushes about to get her daughters married. Her haste is understandable, partly, because, the Bennet family has no male heir, therefore any daughters left unmarried will be thrust into poverty upon their father’s death. However, most of her rushing seems nothing more than the nagging, useless bickering of a gossiping old biddy.   Ã‚  Ã‚  Ã‚  Ã‚  Mr. Bingley seems not to be a victim per se, but the people around him and their superficial motives tend to cause him harm. His sister, Caroline, causes many people to avoid Bingley because of her snobbishness. Mr. Darcy, though good intentioned, almost ruins Bingley’s most promising marriage conquest by breaking Bingley and Jane Bennet up.

Physiological life-long process Essay

Aging primarily is a physiological life-long process, starting at conception and ending with death (Kart, 1994). Persons grow old whether they like it or not. These changes, both positive and negative, place demands on the aging person’s abilities to cope with and adapt to new life situations. It is a challenge for any given society to assist their aged in coping with the new life situations they are facing. Unfortunately, the rapid social changes taking place in society do not always lend themselves toward helping the elderly meet the demands of their life situations. For one, the attitude toward this population is not helping them cope with it as well. According to historian Fischer, 1977 in Doress-Worters & Seigel, 1994), the old is regarded as useless, unattractive, and unwanted especially in the west. Acknowledging these realities of aging, the current research has been undertaken to study the experience of subjective well-being of senior citizens of Gladys Spellan. This shall be from the point of view of their administrators, particularly on their views on well being and the factors that influence it. Objectives / Outcomes This study therefore, will strive to achieve the following objectives: 1) Understand the experiences of the senior citizens of Gladys Spellman in the home for the aged from the perspective of their administrators: a) Their understanding or idea of well-being b) And the components of well being and factors that influence it. I personally chose this topic because I believe that as more and more elderly are placed under institutionalized care in contemporary society, a study such as this is needed to explore this phenomenon. It would shed light into the subjective lives experiences of the aged from an administrators’ view point. This would also contribute to the literature in this area and serve as groundwork for further studies in this area. This study will explore the subjective well-being (SWB) of the elderly in Gladys Spellmen who opted to live in an institutionalized set up or in a home for the aged by choice. The following framework will be used as a guide in the study: Method The first step in the research was the gathering of secondary data that are pertinent to the current topic, collating literature on the concept of well-being, indicators of the cognitive and affective components, and the factors which contribute towards it. A case study will be used in the current study, focusing on Gladys Spellmen Specialty Center. A semi- structured interview guide has been used in gathering primary data from the administrators of the institution. Interviewing. All the interview sessions with administrators will be one-on-one or individual interviews, for which the researcher has jotted down notes. A session with the participants lasted about 45 to 90 minutes,sometimes with a break in between or without it. The personal information sheet will be completed before or after the interview session with them. The researcher will take down notes while interviewing which shall be thematically analyzed. References Kart, C. S. (1994). The realities of aging: An introduction to gerontology (4th ed. ). Boston: Allyn & Bacon. Doress-Worters P. B. , & Seigel, D. L. (1994). The new ourselves growing older. Women aging with a knowledge and power. New York: Simon & Schuster.

BCOM 275 Debate Paper - 2210 Words

Debate Paper Melissa McCarthy BCOM 275 October 20, 2013 Kimberly Boyd Debate Paper Whether or not armed security guards should be in schools has been a debate for years but has really been brought into the limelight since the most recent tragedies of Columbine, Virginia Tech and Sandy Hook. The supporters of having armed security in our school districts believe that it is a needed layer of security and helps to diminish response time if necessary while keeping children, parents and teachers feeling safer to be in school. The ones against having guns in the schools believe that we have had armed guards in schools and it did nothing to stop it. They also believe that the cost is too high while also†¦show more content†¦What if there is an accidental shooting or a guard becomes over zealous in what they feel that their responsibilities are? These factors could lead to major lawsuits that the school would be responsible for by either having to represent that officer or in paying settlement and court costs for a lawsuit. These are added costs that the majo rity of the schools across the United States cannot afford to take on. The safety of schools have been tested more in the recent years with news coverage of the most recent incident in Sandy Hook Elementary School in Newtown, Connecticut, where twenty children and six staff members lost their lives. With the recent rise of school shootings it is no wonder parents are concerned for their children’s safety in schools. Where drugs and peer pressure were once major concerns, in today’s society, we worry about our children dying in the hands of armed shooters. While there is much controversy over how to protect the future of America’s children, lawmakers are supporting a bill to allow armed guards to stand and protect our children in the school systems by creating laws to allow armed security in the schools. â€Å"The Indiana amendments sponsor, Rep. Jim Lucas (R), said he believes mass shootings like the one in Newtown could be prevented by more firearms.† ( Resmovits, 2013). In support of armed guards, the National Rifle Association has paid for researchShow MoreRelatedBCOM 275 All Class Assignments and DQs – A Graded Material Essay703 Words   |  3 PagesBCOM 275 All Class Assignments and DQs – A Graded Material http://homeworklance.com/downloads/bcom-275-complete-course-business-comm-critical-thinking-amaterial/ BCOM 275 All Class Assignments and DQs – A Graded Material BCOM 275 Week 1 Individual Exercise 1.1 Complete exercise 1.1 from Ch. 1 of Communicating in the Workplace. Choose two misunderstandings you experienced and fill out the chart for these. Respond to questions 1 and 2 shown under the chart for each example of a misunderstandingRead MoreBCOM 275 Complete Class1327 Words   |  6 Pagesï » ¿BCOM 275 Complete Class   Ã‚  Ã‚   Check this A+ tutorial guideline at http://www.assignmentcloud.com/BCOM-275/BCOM-275-Complete-Class. For more classes visit http://www.assignmentcloud.com BCOM 275 Week 1 DQ 1 What are some ways in which receivers of messages provide feedback when listening or reading a message? What effect does this have on the message?   Ã‚  Ã‚   Check this A+ tutorial guideline at http://www.assignmentcloud.com/BCOM-275/BCOM-275-Week-1-DQ-1Read MoreTerm Essay2794 Words   |  12 PagesSyllabus BCOM/275 Version 2 1 Syllabus School of Business BCOM/275 Version 2 Business Communication and Critical Thinking Copyright  © 2011 by University of Phoenix. All rights reserved. Instructor: Jon Olson 12/18/2012 – 02/04/2013 Course Description This course introduces students to the foundations of communication in a business setting. Students will develop skills in critical thinking and decision making through the forms of written communication, including memos, emails, businessRead MoreShould Marijuana Be Legalized2211 Words   |  9 PagesCummings Keith Tatum BCOM/275 10/08/2012 Should We Legalize Marijuana Should Marijuana be legalize is one of the top debated issues in the United States. This issue has many people concerned why it should and why it should not be legalize. Marijuana is an herb mostly grown in South American countries and illegally smuggled in to United States. Pot is the most commonly used drug in America. The attempt to federally legalize marijuana has been going on for years. Today, the debate to legalize cannabisRead MoreDeath Penalty Debate2037 Words   |  9 PagesDeath Penalty Debate Paper BCOM/275 The death penalty is an issue that has continually created conflict in today’s society. Many people arguing whether or not the death penalty should exist. Who’s to say whether the death penalty is a form of justice and therefore a valid and appropriate punishment or whether it is a â€Å"cruel and unusual† form of punishment. â€Å"The Arizona Supreme Court threw out the death sentences for a Tucson man who bludgeoned his girlfriend and her two children