how do fuel prices both high and low contribute to our globalized food economy

SOC-p:How can deviance contribute to society and on the flip side how does it detract from it?

In what ways did the transportation revolution contribute to the development of a national market economy in the United States.

Hollywood Studios Audit China Box Office Figures

According to the 2017 video, an audit found that Chinese theaters were shortchanging Hollywood movie studios. These studios have been releasing major blockbusters with both storylines and characters that are meant to specifically target Chinese audiences. In fact, studios depend on these overseas audiences to save critically slammed blockbusters.

Auditors at PriceWaterhouseCoopers (PwC) found that about 9% of ticket revenues were unreported or skimmed and that this amounted to at least $40 million in revenue for the six major studios.

Issues noted in the audit resulting in missing revenue included: Sales listed as concessions, incorrect audience numbers, and screenings that were completely unreported.

This was part of an investigation on behalf of the Motion Picture of America Association (MPAA). The auditors examined the 29 biggest blockbuster movies released in China in 2016 and looked at 125 screen locations run by 27 different movie chains.

At the time of the video and the report, the U.S. motion picture industry was renegotiating a revenue sharing agreement with China, since the original five-year agreement ended. At question were the push by Hollywood to have more market access, as well as the Chinese to boost product from their growing movie industry.

The investigation was only a sample of screens. In fact, China has the largest number of screens in the world, numbering about 43,000.

Prior to renegotiating the WTO agreement on revenue sharing, U.S. studios officially grossed $1.87 Billion and took home $470 M.

According to the textbook, revenue recognition is more problematic with respect to audit inherent risks in some industries, as compared to others. Would this be the case in the movies industry in China? Why?

Revenue recognition in Chinese movie theaters is also problematic with respect to audit control risks. Why?

Three major differences between corporate and government disclosure requirements

Use the following data to answer the next question: ============================================================================= # Hofstede's Individualism: Denmark: 74; England: 89; Greece: 35; Ireland: 70; Malaysia: 26; Portugal: 27; Russia: 39; Singapore: 20; South Korea: 18 # Hofstede's Power Distance: Denmark: 18; Greece: 60; England: 35; Ireland: 28; Malaysia: 100; Portugal: 63; Russia: 93; Singapore: 74; South Korea: 60 # Hofstede's Uncertainty Avoidance: Denmark: 23; England: 35; Greece: 100; Ireland: 35; Malaysia: 26; Portugal: 99; Russia: 95; Singapore: 8; South Korea: 85 # Hofstede's Masculinity: Denmark: 16; England: 66; Greece: 57; Ireland: 68; Malaysia: 50; Portugal: 31; Russia: 36; Singapore: 48; South Korea: 39 # Hofstede's Indulgence: Denmark: 70; England: 69; Greece: 50; Ireland: 65; Malaysia: 57; Portugal: 33; Russia: 20; Singapore: 46; South Korea: 29 ============================================================================= Imagine you were sent by your multinational company to a foreign subsidiary to start a new product line. However, since the beginning there was quite a bit of confusion in headquarters about the launch’s timeline. It was not exactly clear when the product should be launched, and to what extent the product should be changed to fit the needs of the local market. As time passed, you grew tense and restless, you could not sleep or function properly due to the situation at work. Your fellow countrymen understood what you felt, as they would feel exactly as you did. However, to your surprise, your local counterparts were quite undisturbed, and would calmly say that they would adapt to whatever decisions were made, and that it would all go well in the end. According to the data provided, and assuming the listed variables is all the information you have, there is a much greater probability that you were sent to a country such as ________, than to _______ : Group of answer choices

Portugal; Denmark

Greece; Malaysia

South Korea; Malaysia

Singapore; Russia

Exercise 12-4 Prepare a Statement of Cash Flows [LO12-1, LO12-2]

ABC Company is preparing to launch a new product. They are considering three different product designs and will select only the one product that yields the highest revenue. A feasibility study suggest that product development, regardless of which of the three products is selected, will cost $1,250,000 initially, which includes all design, testing, set-up and initial operating costs. Annual operating cost, once the selected product is placed into production, will cost $125,000 and the net revenue for the first year is projected to be $450,000. Both the project costs and revenues are independent of the option selected. Market analysis for each of the three products suggest that subsequent revenues, i.e. the revenues received at the end of each year starting in year 2, will differ as described below

•  Design 1: The revenue will increases by $75,000 per year.

•  Design 2: Revenues will remain the same for the next two years (i.e. years 2 and

  3) and then will increase by 10% each year, over the previous year, in each

  subsequent year.

•  Design 3: Revenues will increase in years 2 through 4 by 10% per year, then in

  years five through seven, revenues will be $300,000, $225,000, and 150,000 per year, respectively.

• If the product’s life is 7 years and the market interest rate is 8% per year, which of the threeproduct designs should ABC Company launch? To answer this question compare the future values of the cash flows for each of the three designs over the first seven years.