1. What information do users of accounting reports need?Discuss.

1. Why do we need so manystatements?

The balance sheet gives the company’s status at the end of a chosen accounting period. It includes the results of all the operations that took place during this period. Why do we need to have an income statement and statement of retained earnings, which simply expand upon the retained earnings account? If we wanted detail, couldn’t we just include it as part of the retained earnings section of the balance sheet?

2. Dividends, you have learned, are a distribution of income, not an expense. What is the difference? Why can’t the corporation list them as an expense, since dividends are just another amount of money paid out tosomebody?
3. Read the following case and answer the questions thatfollow:

GeoPetro is independent oil and natural gas company with headquarters in San Francisco, California. It recently received an audit opinion that expressed a going concern paragraph. The following is an excerpt from GeoPetro’s 2012 report:

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the consolidated financial statements, the Company has incurred recurring net losses that have resulted in an accumulated deficit of $49.7 million as of December 31, 2012. Also, the Company has limited cash and working capital to fund its future operations. These factors raise substantial doubt about the ability of the Company to continue as a going concern. Management’s plans regarding those matters are also described in Note 2. The consolidated financial statements do not include any adjustments that might result from the outcome of theseuncertainties.

Required:

1. What is the general purpose of an auditors’report?
2. What is a going concern? Define it in your words, don’t quote thebook.
3. Are losses, restructuring, and the disposal of segments necessarily precursors to the demise of thecompany?
4. What, in your words, are the auditors saying about these particularcompanies?

4. All businesses are subject to various types of legal proceedings. Merck & Co. Inc., a global health care company that manufacturers prescription medicines, has been a defendant in a number of product liability lawsuits. In the notes to Merck’s 2012 financial statements, the company states: “There are various other pending legal proceedings involving the Company, principally product liability and intellectual property lawsuits. While it is not feasible to predict the outcome of such proceedings, in the opinion of the Company, either the likelihood of loss is remote or any reasonably possible loss associated with the resolution of such proceedings is not expected to be material to the Company’s financial position, results of operations or cash flows either individually or in theaggregate.”

Required:

Explain in your own words what Merck means by this statement. In particular, include what they mean by “material” and “remote.” Who is in the best position to determine the outcome of a lawsuit?

Two pith balls hang side by side close to each other without touching as shown in the figure below. They are both neutral to begin with.

1. A plastic rod is rubbed with wool. Describe as negative, positive or neutral the total (net) charge of a system consisting of the rod and the cloth. Explain your reasoning.

2. A student touches sphere A briefly with the rod and then removes it. What is the charge state of A? Same as the rod or opposite charge of the rod?

3. Then he brings the rod close to sphere A but does not touch it. What will happen to A? Explain your reasoning.

4. Now sphere B is brought very close to A but does not touch it. What will happen to the spheres? Explain your reasoning.

25-year-old patient c/o left sided earache for 1 week. Explain how you would complete a focused assessment and what questions you would ask based on their complaints. ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________

65-year-old patient c/o swelling to the right side of his face; Face appears to be swollen, red, and warm to touch (swollen parotid gland). Explain how you would complete a focused assessment and what questions you would ask based on their complaints.

25-year-old patient c/o left sided earache for 1 week.

Explain how you would complete a focused assessment and what questions you would ask based on their complaints.

65-year-old patient c/o swelling to the right side of his face; Face appears to be swollen, red, and warm to touch (swollen parotid gland).

Explain how you would complete a focused assessment and what questions you would ask based on their complaints.

Explore the FASB Codification section related to inventory (§330). Explain how inventory might be treated within a particular industry, and justify why this methodology is appropriate. Participate in follow-up discussion by challenging or defending the methods as explained by your classmates. Your initial post should be 250-500 words and should demonstrate solid academic writing skills.

1- What is the current state or condition of the childhood obesity, and how is it affecting the specific community?

2- What approach might you use to address childhood obesity? How will it contribute to improving the community’s health?

3- Based on the research needs identified, what are the broader goals of your research? Keep in mind that goal statements should be broad and abstract, describing a state or condition you hope to achieve.

1- What is the current state or condition of the childhood obesity, and how is it affecting the specific community?

2- What approach might you use to address childhood obesity? How will it contribute to improving the community’s health?

3- Based on the research needs identified, what are the broader goals of your research? Keep in mind that goal statements should be broad and abstract, describing a state or condition you hope to achieve.

We found in current articles that the US tax system is overall regressive when you incorporate local and state sales and other taxes. The wealth tax had been floated as a way to force our tax system to reduce inequality and give US citizens a more equal opportunity to have the “American Dream”. Given what you have learned in this class so far, explain the advantages of this tax. What would be important for policymakers to think about when designing the specifics of this tax?

Practice Using What You Have? Learned: Applying Constructivist Perspectives

Mr.? Swope's high school biology students are learning to use a dichotomous key to identify fish. As you observe his? teaching, think about his applications of constructivist principles.

Using what you know about constructivist? principles, explain why you think Mr. Swope asks students to work in groups as they learn to use the dichotomous key.

Discuss the reasons why minorities have not been promoted to the bench in a representative fashion. Using what you know about implicit biases and structural racism, explain how historical treatment of minorities comes into play.

Describe how Tribal Courts differ from state and federal courts. Do you believe tribal courts should have more independence in prosecuting criminal offenses? Why or Why not?

Explain how discriminations can occur with regard to being charged with a crime. How have minorities been effected by these discriminatory practices?