Case 63: Pray With Me

You are the Vice President of Nursing Services in a nondenominational community hospital, and you receive a complaint from a patient, who is a Wiccan. The patient and her primary care nurse, Penny Baker, were discussing her religious practices and how she prays, when another nurse, Ruth Goose, walked into the room, stated, “Thou shalt not suffer a witch amongst you,” and told Penny not to discuss the “satanic religion” with the patient any more. The patient demands an apology and threatens to go to the media. She feels she has been discriminated against because she is a Wiccan and that her patient care experience was poor during her hospitalization because of her spiritual beliefs. You convene a meeting with Penny and her immediate supervisor, Ruth Goose.

Ruth Goose is wearing a large gold cross on her neck. Penny wears no jewelry and is dressed in her blue scrubs. When you ask Penny what happened, Ruth answers for her. “She did the right thing. We don’t have to pray with witches. They worship Satan. It’s blasphemy. What’s next? Human sacrifice?” Penny can’t get a word in edgewise. Ruth keeps repeating “Thou shalt not suffer a witch amongst you, it says so in Leviticus!”

What should you do?

USE INFORMATION FROM CASE TO DO A WRITE UP (PLEASE INCLUDE DETAILED EXPLANATION AND COMPLETE ALL 6 STEPS)

1 - Write a background statement

2- What are the major problems and secondary issues?

3- Your Role

4- Organizational Strengths and Weaknesses

5- Alternatives and Recommended Solution

6- Evaluation

THEIR IS AN EXAMPLE BELOW OF HOW THIS SHOULD LOOK!!!!

Case Write-Up

Background Statement

A Wiccan patient who visited a nondenominational community hospital was discussing her religious beliefs with her primary care nurse, Penny Baker, when suddenly another nurse, Ruth Goose, walked into the conversation and rudely stated, “Thou shalt not suffer a witch amongst you.” The Wiccan nurse felt offended and complained that she was discriminated in the hospital because of her religious beliefs.

Major Problems and Secondary Issues

The major problem is that the two nurses, Penny Baker and Ruth Goose, made the patient feel unwelcomed in the nondenominational community hospital because of her Wiccan religious beliefs. The secondary issues that the nondenominational community hospital may face is that the Wiccan patient is threatening to go to the media. This means that there may be news coverage that your hospital engages in religious discrimination. This may make people, especially Wiccans, look down on your medical services.

Your Role

In this case, I am the Vice President of Nursing Services. As stated in the text, it writes, “You are the Vice President of Nursing Services in a nondenominational community hospital, and you receive a complaint from a patient, who is a Wiccan.” The advantages of this role are that I can sit down with Penny and Ruth to let them know that religious discrimination is not to be tolerated while we are caring for the patients. The disadvantages of this role are that I must decide how I am going to discuss this matter with Penny and Ruth because they’re passionate about being against the Wiccan patient. I need to let Penny and Ruth know that our patient’s care matters above everything else, not what religion they practice.

Organizational Strengths and Weaknesses

As the Vice President of Nursing Services, my strengths are that I can hold a training on racial, ethnic, and religious diversity. This training can supplement nurses with the information they need to work in a diverse environment. Nurses need to know that they must treat their patients justly despite their identity. The weaknesses I may face are that the two nurses are very religious themselves. They may not listen to what I have to say about religious discrimination because the two nurses try to justify their act by saying, “She did the right thing. We don’t have to pray with witches. They worship Satan. It’s blasphemy. What’s next? Human sacrifice?”

Alternatives and Recommended Solution

As a solution for this problem, I will make sure to provide all the nurses working in the hospital with diversity training. It is important that I sit down with the nurses and make it clear that discrimination will not be tolerated while they are working in our hospital. I can also offer every patient visiting the hospital with a survey. The patient can fill out the survey to let us know how they felt about their stay. Nurses who’ve been accused of any sort of discrimination, will have to speak with management. We would keep these incidences of discrimination in a file, and it the dilemma does not change, I would have to begin writing up the nurses. Discrimination would not be tolerated while the patient is in the hospital trying to recover from a medical condition. I would also recommend Penny and Ruth write an official letter of apology to the Wiccan patient before she decides to go to the media. Writing the official letter of apology would be my first recommended solution to Penny and Ruth, so that the patient does not feel unwelcomed to our hospital’s services in the future.

Evaluation

If there are enough surveys to prove that our medical treatment is getting better and there are less patients coming from the patients about discrimination, then I would know that the instances of discrimination have stopped. The goal is to aid in the medical recovery of patients. Patients must also feel welcomed to our hospital services despite their identity. By getting fewer, or even better, no discrimination complaints, I would know that my diversity trainings and meetings have worked.

In 2004 David Lee started Lee Manufacturing, a company dedicated to manufacturing simple yet efficient gas barbecues. The barbecues are made of aluminum and stainless steel and are priced at the middle of the market. David’s goal has always been to make a barbecue that cooks great food. This means, good quality parts, simple construction, even heat, no hot or cold spots, and a barbecue that will hold temperature from the lowest setting to the highest setting. David’s motto is “high quality for a fair price”. The company offers four basic grill sizes (models) and several options and accessories that can be added on to each model. Lee’s barbecues have been well received. Revenue and profits have grown steadily.

Based on the recommendation from his sales and marketing department Mr. Lee is considering broadening his product line by adding a new product line of Lee charcoal barbecues. These barbecues would be ideal for those cooks that like that distinct charcoal flavor or the nostalgia of barbecuing the old fashioned way. Mr. Lee has asked his sales and marketing team to come up with a sales forecast for units and pricing. He has also asked his manufacturing team to come up with alternatives for the production of the charcoal barbecues including what equipment is needed and what the projected costs would be.

The sales and marketing team hired Advanced Marketing Consultants to conduct a market survey. The total cost for this consulting was $37,500. The initial model would be a mid-sized kettle barbecue. Eventually, two more models would be added, a smaller version ideal for camping or apartment patios and a larger model for the serious cooks.

Based on the survey and their own experience the sales and marketing team has provided a sales forecast. The suggested price of the initial barbecue is $46.90 per barbecue. They would be sold to retailers with a suggested retail price of $69.95. This would provide retailers with a target margin of 33%. The barbecues would be sold by the company’s existing sales force to its existing customer base. Unit sales are forecast at 2,500 in year 1, 5,000 in year 2, 6,500 in year 3, 8,000 in year 4, and then increasing by 1,000 each year thereafter. Sales and marketing expenses are expected to be 10% of total revenue.

The production team forecasts that the fixed costs needed for the charcoal barbecue production line will be $65,000 per year. Variable costs for materials (sheet aluminum, grills, handles wheels, etc.) is expected to be $15.50 per unit. The variable labor costs will vary based on what equipment will be purchased.

There are two brands of equipment that could be purchased to manufacture the lids and bowls of the barbecue. The first is made by the Strong Metal Equipment company. The second is made by the Precision Industrial company.

The Strong brand is more expensive, but higher quality and more efficient. It will cost $125,000 plus an additional $9,000 for shipping and installation. The equipment would be depreciated to zero over 5 years using straight line depreciation. It is expected that the equipment would last for 8 years at which time it would be sold then for $27,500. Maintenance of the Strong equipment would cost $5,000 per year. Since the Strong equipment is more efficient the variable labor cost would be $9.00 per barbecue.

The Precision brand is less expensive. It will cost $95,000 plus an additional $8,000 for shipping and installation. The equipment would be depreciated to zero over 5 years using straight line depreciation. It is expected that the equipment would last for 8 years and would then be sold for $22,000. Maintenance of the Precision equipment would cost $8,000 per year. The variable labor cost with the Precision brand equipment would be $9.75 per barbecue.

The increase in working capital (accounts receivable and inventory) is expected to be $35,000 at the beginning of the project and will be the same for both machines. The company’s cost of capital is 14% and its tax rate is 40%. Since Mr. Lee’s production team believes that both brands of equipment will last for eight years David wants this analyzed as an eight year project.

David has always believed in buying quality so he is leaning towards the Strong brand equipment. But after hearing that you have learned about capital budgeting in your Finance class at UVU he wants to take advantage of your expertise. David has asked you to analyze his choices and give him some advice on which option would provide the best financial outcome for Lee Manufacturing.

Prepare an analysis and professional report for Mr. Lee. The report should be professionally written and include a letter (single spaced), plus attached schedules. The letter should explain what analytical techniques you are using, why you are using those techniques, what the results show, what you would recommend to Mr. Lee and why. Make sure that the letter is well organized and professionally written. Also make sure that the letter includes the following:

1. The cash flows associated with the different equipment brands for each year of the project.

2. The PB period, Discounted PB, IRR, MIRR, and NPV for the two alternatives.

3. Your recommendation of which brand of equipment should be purchased.

4. Attach to your letter schedules that show your analysis and your work. Ideally you will submit two files. A Word file with your letter and an Excel file with your analysis.

By and large, the features observed in animals, plants, fungi, and biological organisms, in particular, are representative of their function and shaped by natural selection in the context of their environment. When we, as scientists, observe forms in nature, such as differing limb structures in vertebrates, varying tooth shapes in mammals, a diversity of leaf shapes in trees, or even the different shapes and sizes of cell types, we see both the function of the trait in question as well as the constraints, and possibilities, of living in the physical world. In this lab, you will take some moments to observe a variety of structures representative of the Animal kingdom that have been shaped by natural selection, and whose function may be represented, and therefore inferred, by their form.

During this lab, we will investigate anatomy (form) to understand the physiology (function). Our investigation will begin at the cellular level, comparing cellular shapes and structures of various tissues, allowing us to understand their purpose. We will then bring our focus to an organismal level, using clues of morphology to conclude habits and even behaviors of different species of fish. We will also focus on a specific characteristic, dentition in mammals, to help us to determine their dietary type.

In particular, we will be looking at the relationship between the form and function of:

1) Cells - different cells and a virus

2) Tissues- representatives of animal tissue types,

3) Body Morphology- various fish species

3) Dentition - a variety of vertebrate skulls and the teeth that they possess.

Cells and Viruses

Observe and draw the following cells.  

Plant cell (slide) – Note cell wall, chloroplast

What does this tell you about the functions of this cell?

Pancreatic cell (slide) – Note large amounts of endoplasmic reticulum and ribosomes.

What do these structures reveal about its function?

Virus (Electron micrograph) – Note the lack of organelles. Why do viruses need to infect a host cell to reproduce?

  Table 1

Tissues

Tissues are groups of cells that have similar structure and function together. In this lab, we will investigate the anatomy of various tissue types and investigate the relationship between their structure and function.

Types of tissues we will investigate in this lab include:

• Epithelial – squamous, cuboidal, and columnar
• Connective tissues – connective tissue proper and muscle

Future labs will investigate additional tissue types study different organismal systems.

Epithelial Tissues

Epithelial tissues are comprised of tightly packed cells enabling them to form barriers:

- between the body and the outside world

- to line organs

- to line cavities.

In this exercise, you will be observing three different types of epithelial tissue squamous, cuboidal, and columnar, so named because of their shape.

Squamous

The cells of squamous tissue are flat and thin to allow for the critical diffusion of nutrients and gases in the alveoli of lungs and blood vessels.

(Think of the word squashed to remember the shape.)

Cuboidal

The cells of cuboidal tissue are, as the name implies, shaped like cubes.

Cuboidal cells are found in tubules throughout the body.

Observe the individual cells surrounding the tubules. Notice that when cuboidal cells form the circumference of the tube, they have a slightly trapezoidal shape, allowing the cells to form a tight seal around the tube, and to distribute the force, further supporting its integrity. Think of the keystone of a free-standing arch.

Columnar cells

Columnar epithelial cells are long and often found where large amounts of secretions or active absorption are essential.

Columnar tissue can be found in the intestines secreting enormous amounts of digestive enzymes and absorbing nutrients. They are also located in the trachea of the respiratory tract, where large quantities of mucus are created to help trap particles before they enter the lung.

In the columnar epithelium of the respiratory tract, you can see goblet cells that release mucus and cilia at the apical surface of many of the cells.

How do cilia and mucus in the respiratory tract protect provide protection?

Many columnar epithelial cells produce mucus. These cells are called goblet cells. (To remember their name, think of goblets filled with white mucus.) Look for goblet cells in your intestinal slide.

Table 2 Summary of Epithelial Tissue Analysis

Connective tissue

Connective tissue is so named because it connects tissues and organs throughout the body together.

Connective tissue contains:

• Cells
• Matrix (may be solid or liquid)
• Sometimes fibers are present to enhance strength, resilience, or elasticity.

Examples of connective tissue include:

• Blood
• Bone
• Cartilage
• Adipose (fat)
• Connective tissue proper

Dense regular connective tissue

Ligaments and tendons – are composed of fibers that attach muscle to bone (tendons) or bone to bone (tendons)

You can determine function from the types and placement of the fibers. Look at the two slides.

Slide 1 – Dense regular unilateral fibers

Slide 2 – Dense regular fibers swirl in more than one direction.

Which do you think undergoes forces in many directions?

Which supports forces in predominantly one direction?

Examine the slide below.

Note the direction of the collagen fibers. Do you feel that the fibers reinforce strength laterally or vertically? Why?

QUESTIONS POSTED BELOW, BASED ON THIS CASE STUDY:

"Case Studies for Part III The Four Zones of Social Media: Case Study 5—Native Advertising: Novel or Deceptive?

Jennifer Zarzosa, Henderson State University and Sarah Fischbach, California Lutheran University Lisa attentively pays attention to the posts her network of friends and family have posted today on Facebook. After all, this is the best way of getting her news and connecting with what’s going on in the world. In fact, Lisa usually only gets her news from Facebook and Twitter anyways. She always makes sure to stay connected with her favorite brands and publishers. Lisa loves when she gets live updates—it makes her feel like an insider. Today’s feed features the usual content: cute dog videos, funny memes, happy birthday wishes, inspirational quotes, vacation pictures, and how-to-cook videos. As Lisa scrolls down her Facebook feed, she watches a cute dog video (of course), shares the funny meme, comments “Happy b-day!” and loves the inspirational quote. Then, Lisa comes across a suggested post by The Gap. Lisa notices her friends Amanda and Marc both like The Gap. The post features the top five fashion trends for the summer. The post has many likes, loves, wows, and even angry faces as well as comments and shares. Eager for more information, she clicks the “learn more” button. Lisa loves the styles she sees on the landing page and adds a pair of denim jeans and a bright yellow crop top to her cart and checks out shortly. Online advertising has come a long way since the early days when banners, pop-ups, and pop-unders were the prominent form of online advertising. Critics argue banner ads cause wear-out and banner blindness while pop-ups and pop-under ads are usually blocked. Critics claim this type of online advertising is intrusive and therefore ineffective. Consumers have become mobile first, decreasing the use of desktops, which makes desktop online advertising formats obsolete. In response, advertisers have developed new ways to engage with consumers and facilitate interaction. Native advertising blends organic and commercial content seamlessly in order to break through the clutter. According to the Federal Trade Commission, native advertising—sometimes called sponsored content—is the practice of blending advertisements with news, entertainment, and other content in digital media. It refers to advertisements that more closely resemble the content in which they are embedded. Native advertising represents more than a third of its advertising revenue for many publishers. Advocates of native advertising maintain consumers have been conditioned to ignore traditional online advertising. Therefore, advertisers can use native ads to better engage the reader by mixing commercial content with organic content creatively. Social media in-feed ads have distinct benefits over traditional online advertising. Many times in-feed ads have engagement markers (e.g. comments, likes, loves), blend well with organic content, and are endorsed by those in one’s network through online word-of-mouth; all of which increase the likelihood of engagement. As a result, publishers also benefit by receiving more advertising revenue. Social media in-feed ads such as Facebook-sponsored posts and Twitter-promoted tweets comprise about 39% of native advertising. Additionally, publishers such as Forbes, The New Yorker, Fast Company, and The Atlantic use advertorials or branded content, another form of native advertising. Critics of native advertising contend consumers cannot identify native advertising as advertising clearly. While social media in-feed ads are effective, in that they blend well with organic content, it is unclear whether consumers can recognize the in-feed ad as an advertisement with commercial intent. Therefore, native advertising could be a form of deceptive advertising. Is the in-feed ad novel or deceptive? The FTC recommends clear and prominent advertising disclosures using visual cues such as shading and borders, and text labels that are explicit, large, and visible to avoid deceptive advertising. Despite this, there is no consensus on disclosure language and visual cues to signal native advertising for publishers. Consequently, publishers use different disclosure language varying in ambiguity—sponsored, suggested, promoted, branded content, and presented. When consumers are unable to recognize native ads, opponents of native advertising claim it violates trust between the reader and the publisher. Historically, there has been a divide between editorial and advertising content. The line is now blurred."

1. How would you classify social media in-feed ads?

2. How are social media in feed ads different from display ads and organic social ads

3. Why is lisa more likely to click on the call to action for a social media in feed ad than a display ad

4. Do you think lisa noticed the facebook suggested post by the gap was a native ad? why? if she did, do you think she thought it was deceptive?

5. Based on your own experiences with native advertising, how do you believe native advertising should be regulated?

6. Imagine you are creating disclosure language standards. Describe how you would create the disclosure language standards in terms of visual cues and text labels

If someone could give me some ideas to discuss, that would be great! Particularly anyting to do with access.

Introduction

The internal auditor of Missouri State University was in a quandary. Several retail items from a major supplier were on clearance; and the paper trail led to a check from the supplier that had not been cashed (in situations where merchandise is on clearance the supplier often provides a check to help offset the loss to the bookstore). The auditor decided to call the manager of the bookstore, Mark Brixey.

Brixey was on vacation, but the auditor was able to contact him. Brixey confirmed that the bookstore did receive a check from the supplier, but the check was locked in his desk. Brixey said not to worry; he would deposit the check as soon as he got back from vacation. The auditor was not comfortable with this, and decided to unlock the desk and retrieve the check. Once the desk was unlocked, the internal auditor found the check….and over $80,000 in cash.

In August of 2012, the Missouri State University Bookstore fraud was discovered during the routine internal audit. The former bookstore manager, Mark Brixey, was charged with embezzling more than $1.1 million dollars from the bookstore mostly from the textbook buyback program. Brixey was the bookstore manager from 1998 to 2012 and he began embezzling the money in 2003. The first year he stole $29,000; the amounts he stole steadily increased each year. Once the fraud was discovered he was placed on administrative leave by the University and then later resigned. He was later found guilty in federal court of illegal wire transfers and was sentenced to federal prison.

The Fraud

   The internal audit department at Missouri State University discovered the fraud during the internal audit while the bookstore manager was on vacation. The internal audit team found inventory markdowns that had a reference to a specific check that should have been accounted for by the University. The team then contacted the director and found out the check was in his desk, and then they decided to get access to his desk to account for the check. When searching through his desk they did not find the check, however they did find over $81,000 in cash (McHaney), and when Brixey returned from his vacation he could not explain what happened to the missing check (Grant). After this was discovered, the internal audit was extended to further investigate the fraud.

The main sources of missing funds discovered in which Brixey was responsible for include:

Checks from textbook companies payable to the University or University Bookstore for purchase of wholesale inventory;

Buy-back or commission checks and cash from Follett payable to the University or University Bookstore;

Checks payable to the University or University Bookstore from Follett from the purchase of University Athletic Department owned textbooks which were returned by student athletes to the Athletics Office;

Checks payable to the University or University Bookstore from Follett for shared expenses during the buy-back process;

Checks payable to the University or University Bookstore from Follett for online sales of textbooks (McHaney).

The total of these missing funds amounted to $1,324,280.68, but the net amount of missing funds was $1,210,701.18 after the internal audit team discovered the cash in Brixey’s desk (McHaney).

Most of the money that Brixey stole was through the textbook buy-back programs conducted on campus twice a year at the end of each fall and spring semester and the sale of wholesale textbooks to textbook companies. The University would bring in an outside company, Follett Educational Services, to operate the buy-back programs. Brixey was in charge of handling all interactions with Follett. At the end of each buyback period, a Follett representative would write a commission check to the University for allowing them to conduct the program on campus. The check was given directly to Brixey, and he would then take the check to the Bursar’s Office to be cashed, claiming that he needed the cash in order to pay students for textbooks (“Former Bookstore Manager Sentenced…”). The Bursar’s Office took Brixey’s word and did not question him whenever he cashed the checks. The bookstore would also sell textbooks to Follett that were no longer used by professors; the University would receive a check from Follett for these textbooks and Brixey would go cash these in the same manner as he did the commission checks. During the last two years that Brixey was the director, the Follett representative had started paying the University in cash instead of writing a check. The total of the missing funds for the buy-back process amounted to $275,555.64, and the total of missing funds for the sale of wholesale textbooks to textbook companies was $645,732.71.

The checks payable to the University for the Athletics Department owned textbooks were also given to Brixey. Brixey never accounted for the checks, and never transferred the funds to the Athletics Department either. The total of the missing funds to the Athletics Department was $385,294.

The rest of the missing funds were from Follett checks that were for shared expenses amounting to $5,155.03, and for the online sales of textbooks totaling $12,543.30.

   After Brixey cashed the checks or received the checks he failed to record these transactions in the University’s accounting system; he would keep the cash from the checks and the cash from the Follett representative for his own personal use (“Former Bookstore Manager Sentenced…”).

Solving the Problem

The disclosure of the fraud provided unwanted negative publicity for the university; along with the realization that the bookstore was financially vulnerable. The internal audit group at Missouri State University decided to extend their internal audit and prescribe additional controls that would help prevent this type of fraud from occurring in the future.

List and discuss some controls or policies that should have been in place over cash at the University Bookstore.... If someone could give me some ideas to discuss, that would be great!

Hi, I need to "make a recommendation as to whether the company should continue to use sales agents...or employ its own sales force" and write a 500 word evaluation logically supporting my position. I have solved the problem portion of it already, now having a hard time to put my thoughts together on which side to support. This is my first time asking any questions here so not sure how these things work. I have only attach the Degree of operating leverage results that I got for my answers and they are all correct but please let me know if you need to see any other part of the problem results. Thanks!

Pittman Company is a small but growing manufacturer of telecommunications equipment. The company has no sales force of its own; rather, it relies completely on independent sales agents to market its products. These agents are paid a sales commission of 15% for all items sold.

Barbara Cheney, Pittman’s controller, has just prepared the company’s budgeted income statement for next year as follows:

*Primarily depreciation on storage facilities.

As Barbara handed the statement to Karl Vecci, Pittman’s president, she commented, “I went ahead and used the agents’ 15% commission rate in completing these statements, but we’ve just learned that they refuse to handle our products next year unless we increase the commission rate to 20%.”

“That’s the last straw,” Karl replied angrily. “Those agents have been demanding more and more, and this time they’ve gone too far. How can they possibly defend a 20% commission rate?”

“They claim that after paying for advertising, travel, and the other costs of promotion, there’s nothing left over for profit,” replied Barbara.

“I say it’s just plain robbery,” retorted Karl. “And I also say it’s time we dumped those guys and got our own sales force. Can you get your people to work up some cost figures for us to look at?”

“We’ve already worked them up,” said Barbara. “Several companies we know about pay a 7.5% commission to their own salespeople, along with a small salary. Of course, we would have to handle all promotion costs, too. We figure our fixed expenses would increase by $3,600,000 per year, but that would be more than offset by the $4,800,000 (20% × $24,000,000) that we would avoid on agents’ commissions.”

The breakdown of the $3,600,000 cost follows:

“Super,” replied Karl. “And I noticed that the $3,600,000 equals what we’re paying the agents under the old 15% commission rate.”

“It’s even better than that,” explained Barbara. “We can actually save $110,400 a year because that’s what we’re paying our auditors to check out the agents’ reports. So our overall administrative expenses would be less.”

“Pull all of these numbers together and we’ll show them to the executive committee tomorrow,” said Karl. “With the approval of the committee, we can move on the matter immediately.”

Required:

1. Compute Pittman Company’s break-even point in dollar sales for next year assuming:

a. The agents’ commission rate remains unchanged at 15%.

b. The agents’ commission rate is increased to 20%.

c. The company employs its own sales force.

2. Assume that Pittman Company decides to continue selling through agents and pays the 20% commission rate. Determine the dollar sales that would be required to generate the same net income as contained in the budgeted income statement for next year.

3. Determine the dollar sales at which net income would be equal regardless of whether Pittman Company sells through agents (at a 20% commission rate) or employs its own sales force.

4. Compute the degree of operating leverage that the company would expect to have at the end of next year assuming:

a. The agents’ commission rate remains unchanged at 15%.

b. The agents’ commission rate is increased to 20%.

c. The company employs its own sales force.

Use income before income taxes in your operating leverage computation.

Compute the degree of operating leverage that the company would expect to have at the end of next year assuming: (Use income before income taxes in your operating leverage computation.) (Round your answers to 2 decimal places.)

Developing a Master Budget- Please answer the bottom bolded "ANSWERS" at the bottom.
for a Merchandising Organization
Peyton Department Store prepares budgets quarterly. The following information is available for use in planning the second quarter budgets for 2010.

Actual and forecasted sales for selected months in 2010 are as follows:

Monthly operating expenses are as follows:

Cash dividends of $17,000 are declared during the third month of each quarter and are paid during the first month of the following quarter. Operating expenses, except insurance, rent, and depreciation are paid as incurred. Rent is paid during the following month. The prepaid insurance is for five more months. Cost of goods sold is equal to 50 percent of sales. Ending inventories are sufficient for 120 percent of the next month's sales. Purchases during any given month are paid in full during the following month. All sales are on account, with 50 percent collected during the month of sale, 40 percent during the next month, and 10 percent during the month thereafter. Money can be borrowed and repaid in multiples of $1,000 at an interest rate of 12 percent per year. The company desires a minimum cash balance of $2,000 on the first of each month. At the time the principal is repaid, interest is paid on the portion of principal that is repaid. All borrowing is at the beginning of the month, and all repayment is at the end of the month. Money is never repaid at the end of the month it is borrowed.

(a) Prepare a purchases budget for each month of the second quarter ending June 30, 2010.

(b) Prepare a cash receipts schedule for each month of the second quarter ending June 30, 2010. Do not include borrowings.

(c) Prepare a cash disbursements schedule for each month of the second quarter ending June 30, 2010. Do not include repayments of borrowings.

(d) Prepare a cash budget for each month of the second quarter ending June 30, 2010. Include budgeted borrowings and repayments.

Only use negative signs, if needed, for: excess receipts over disbursements, balance before borrowings and cash balances (beginning and ending).

(e) Prepare an income statement for each month of the second quarter ending June 30, 2010.

Only use negative signs to show net losses in income.

(f) Prepare a budgeted balance sheet as of June 30, 2010.

Read the Following Case Scenario:

A recent survey was taken among employees at Biotech Health and Life Products (Biotech). The results were alarming, as it appeared the leadership has been less effective than in the past. Some of the common complaints seemed to focus on the lack of vision, a breakdown in communication and a lack of connection with staff. You have read the results and as Vice President of Biotech, you completely agree with employees. Leadership is the cornerstone to success in any organization and to permit poor leadership can only spell trouble. It occurred to you that the place to start change was starring you in the face - the new management hires planned for production in Detroit and Anaheim. Mumbling to yourself “but what do I want them to look like?” you decide that you must write a memo to HR Director, Judy Janks to make sure the “right” description of a leader is asked for in the soon-to-be released job description. Scrambling around on the desk, you find the old job announcement so that you can make some changes. It reads, “Biotech is looking for experienced production managers who focus on keeping the production high and costs low. Manager must be able to motivate employees to keep production moving smoothly and efficiently. Must be someone who can handle a fast-paced environment, is driven and results-oriented. Goal oriented and policy adherence critical to succeed in the department.” Instructions: You will act as the Vice President of Biotech. Write a memorandum to the HR Director, Judy Janks that explains the need for a new job announcement for managers at Biotech. The memorandum will explain how the business environment has changed the view of the leader and defines the vision you have based on synthesizing the course material about leadership theory and definition of a leader in today’s business environment opposed to leaders hired in the past. In writing the memorandum, use the course material from week 1 and week 2 to support the reasoning and conclusions made. Answer the following:

Explain how the existing job announcement for new hires was effective in the past based on the theories and view of leadership through the 1990’s.

Explain why the leader of today would no longer fit the definition set out in the old announcement. Describe what a leader looks like today and what theories and leadership definition support this description. Memorandum Set Up Create a Word or Rich Text Format (RTF) document (no pdf files allowed) using 12-point font. A memo is left justified with no indentations of paragraphs. A memo is single-spaced with a double space between paragraphs to make the memo easy to read. In business, writing must be concise, easy to read and free of writing and grammatical errors. You are required to use in-text citations with an associated reference list. Use headings for each element. It is suggested that you set up the memo with all of the required headings and then fill in each section of the memo. Use a memo format: To: From: Date: Subject: Remember, you are sending this memo to the HR Director so this is a formal memo. Proof the memo carefully for typos, grammatical errors and ensure the memo conveys the points you are to address. Why? Because your work products is a reflection of who you are – it is your brand! A good brand can lead to future opportunities in an organization such as a promotion. Make sure the memo is audience appropriate, concise, coherent, readable, uses appropriate terminology, is professional, provides a factual tone (no opinion and no recommendations), and is visually appealing. Memorandum Requirements You are sending this memo to the HR Director, Judy Janks. Read the memo to ensure all required elements are present. You also need to use facts from the case scenario and course material to support the ideas and reasoning put forth. The language in the announcement has to be just right so that Biotech attracts the best candidates. Therefore, it is important to help Judy capture the essence of a leader at Biotech. Make suggestions about language that should appear in the job announcement that supports the definition and characteristics you derived for the leader of today. Provide an explanation so Judy knows why the specified language is important to convey the definition and characteristics of a leader; Make suggestions about language that would not be in the job announcement for this leader; Provide an explanation why the specific language should not be in the job announcement. Not just anything is acceptable so make sure to read the course material and make wise selections in creating this memo. The following items are required in writing the memo. Check off to ensure compliance to the following requirements. Use the grading rubric while completing the project to ensure all requirements are met that will lead to the highest possible grade. Third person writing is required. Third person means that there are no words such as “I, me, my, we, or us” (first person writing), nor is there use of “you or your” (second person writing). Contractions are not used in business writing, so do not use them. Students will not use direct quotation marks but will instead paraphrase. What this means is that you will put the ideas of an author or article into your own words rather than lifting directly from a source document. You may not use more than four consecutive words from a source document (including the case scenario) or change words in a passage as doing so would require direct quotation marks. Use a passage from a source document by putting into your own words (paraphrase) and attribute the passage to the source document. Changing words from a passage does not exclude the passage from having to have quotation marks. Use in-text citations and provide a reference list that contain a reference associated with each in-text citation.

ACCOUNTING 3220 CORPORATE FINANCIAL REPORTING 1 Spring 2018

Assignment #9 – Noncurrent Liabilities

This assignment is due at 9:00am Monday, April 30, 2018 regardless of your section. The assignment must be submitted electronically via D2L. DO NOT EMAIL ME YOUR HOMEWORK.

You may submit your homework in Excel, Word, or .pdf style (not .zip or other). Please format the pages for printing and clearly state all group members’ names and section numbers on the first page.

The assignment may be done in groups (ideally, not more than 3 people). You may work with students across sections if you prefer. However, each person must submit a copy of the homework through D2L to ensure submission is done properly.

The standard university Honor Code applies to this assignment. Other than the members of your group, you may not consult with any other person about this assignment.

Kraft Foods Inc. issued four tranches of notes in 2010 to finance its acquisition of Cadbury. The four types of notes were individually priced. Below you will find excerpts from their prospectuses and 8-K disclosure of material events. The Settlement Date is the date on which Kraft Foods Inc. received the proceeds from the note issue (some terms were modified for analytical simplicity). Questions for the assignment follow the excerpts.

Kraft Foods Inc.'s notes prospectus

Filed pursuant to Rule 433 Relating to Preliminary Prospectus Supplement dated February 3, 2010 to Prospectus Dated December 4, 2007 Registration Statement No. 333-147829

Pricing Term Sheet

$9,500,000,000
$1,000,000,000 2.625% Notes due 2013 (the “2013 Notes”) $1,750,000,000 4.125% Notes due 2016 (the “2016 Notes”) $3,750,000,000 5.375% Notes due 2020 (the “2020 Notes”) $3,000,000,000 6.500% Notes due 2040 (the “2040 Notes”)

Issuer:
Offering Format: Size:

Maturity:

Coupon:

Price to Public:

Interest Payment Dates:

Kraft Foods Inc. (“Kraft”)

SEC Registered

$1,000,000,000 of 2013 Notes $1,750,000,000 of 2016 Notes $3,750,000,000 of 2020 Notes $3,000,000,000 of 2040 Notes

2013 Notes: May 8, 2013
2016 Notes: February 9, 2016 2020 Notes: February 10, 2020 2040 Notes: February 9, 2040

2013 Notes: 2.625% 2016 Notes: 4.125% 2020 Notes: 5.375% 2040 Notes: 6.500% 2013 Notes: 99.731% 2016 Notes: 99.658% 2020 Notes: 99.176% 2040 Notes: 99.036%

2013 Notes: Semi-annually in arrears on May 8 and November 8, commencing on November 8, 2010

Settlement Date:

2016 Notes: Semi-annually in arrears on February 9 and August 9, commencing on August 9, 2010

2020 Notes: Semi-annually in arrears on February 10 and August 10, commencing on August 10, 2010

2040 Notes: Semi-annually in arrears on February 9 and August 9, commencing on August 9, 2010

May 8, 2010

Interest on the 2013 Notes is payable semiannually on May 8 and November 8, commencing November 8, 2010, to holders of record on the preceding April 23 and October 24. Interest on the 2016 Notes is payable semiannually on February 9 and August 9, commencing August 9, 2010, to holders of record on the preceding January 25 and July 25. Interest on the 2020 Notes is payable semiannually on February 10 and August 10, commencing August 10, 2010, to holders of record on the preceding January 26 and July 26. Interest on the 2040 Notes is payable semiannually on February 9 and August 9, commencing August 9, 2010, to holders of record on the preceding January 25 and July 25. Interest on the Notes will be computed on the basis of a 360-day year consisting of twelve 30-day months.

The 2013 Notes will mature on May 8, 2013. The 2016 Notes will mature on February 9, 2016. The 2020 Notes will mature on February 10, 2020. The 2040 Notes will mature on February 9, 2040.

Answer the following questions based on the prospectus of Kraft Foods Inc.'s bond issue. You can provide your answers in the spaces below or in a separate document.

1. Are the notes issued at a premium or discount? How do you know?

2. What is the coupon interest rate on the “2013 Notes”?

3. What is the market rate of interest rate (also known as effective interest rate) on the “2013 Notes”?

4. Show the journal entry for the “2013 Notes” on May 8, 2010.

5. Construct an amortization schedule that shows premium/discount amortization over the life of the “2013 Notes” (similar to the examples in class).

6. Show the journal entries for the “2013 Notes” on November 8, 2010.

7. Assume the fiscal year ends on December 31, 2010. Show the appropriate adjusting entries related to the “2013 Notes” (round interest for the period to the nearest month for simplicity).

8. Show the entries on May 8, 2011 (related to the “2013 Notes”), assuming the financial statements were correct on December 31, 2010 (round interest for the period to the nearest month for simplicity).

9. Show the entries on November 8, 2011 (related to the “2013 Notes”).

10. Assume 60% of the “2013 Notes” are redeemed early on May 8, 2012 for $595,000,000 in cash. Provide all the journal entries required on this date related to the “2013 Notes,” assuming the financial statements were correct on December 31, 2011.

11. Does the early redemption affect the income statement? If so, what is the effect?

Description

The purpose of this challenge is to implement a circular doubly-linked list using a dummy node. This challenge simulates an operating system’s window manager.

Requirements

Write the following struct

struct Window { string appname; Window *next; Window *prev; };

Create a class called WindowManager. In this class, create a private variable Window * head. This will keep track of the location of the head node.

Create private variables Window * current, * dummy. current will keep track of the “current” program. Think of it as the program currently being used by the user in this simulated operating system. head and dummy will always paint to the dummy node. (You really could get by using just head or just dummy)

Add the following private function. This function will be used to dynamically create new nodes for the linked list.Window * create() { Window * newnode; try { newnode = new Window; } catch (bad_alloc) { newnode = NULL; } return newnode; } // USAGE: To create a new node, use as follows // Window * newnode = create();

Create a private function called void deallocate(). This function will traverse the entire list and delete each node. Remember to make a copy of head. Also, realize that if you delete the current node as you’re traversing, you may lose the reference to the next node. Make sure that the dummy node is also deleted.

Create a destructor which will call deallocate() and set head to NULL.

Create a default constructor which will instantiate a dummy node. Set head and dummy to point to this dummy node. Set the appname property of the dummy node to a blank string.

Create a public function bool start_app(string name). This function will create a new Window node and insert the new node to the left of the dummy node. (Remember that after adding the first node, this node’s next and prev will point to the dummy node. Also, next and prev of the dummy node will point to the first node. This only occurs with the addition of the first node). Set current to the node created in this function. (think of current as the last app launched by the user)

Create a public function Window * find_app(string name). This function will perform a traversal searching the queue for a node with appname equal to name. You can perform the traversal in any direction (going in the direction of next from the dummy node, or going in the direction of prev from the prev node). No matter which direction you choose to traverse to search for the node, you will either find a matching node, in which case you will return the address of that node, or you end up back at the dummy node without finding a match. If you traverse the entire queue without finding the matching node, the function should return a NULL. Remember to skip over the dummy node during any traversals.

Create a public function bool close_app(string name). This function calls find_app() to help find the app’s node. If a matching node is found, delete the node and take it out of the queue. If a matching node is found, return true. Otherwise, return false. Set current to the next node following the app that was just closed. Remember to skip over the dummy node during any traversals — current cannot point to the dummy node. If the queue is empty, then current is NULL.

Create a public function string get_current(). This function will return  appname of current. If current is NULL, it should return a blank string.

Create a public function string next(). This program advances current to the next app in the circular queue. Remember to skip the dummy node during the traversal. If the queue is empty, then current is NULL.

Create a public function string previous(). This program “advances” current to the previous app in the circular queue. Remember to skip the dummy node during the traversal. If the queue is empty, then current is NULL.

main() is given below. Use it exactly as is. Note that main uses the WindowManager class as an abstract data type (ADT). From the perspective of the object winman, it doesn’t even know or care that a linked-list is the mechanism that makes the circular queue work.

In main(),

Option 1 will prompt the user to enter a string, the app’s name. Call winman.start_app() to simulate running this app.

Option 2 will close the current running app

Option 3 will prompt the user to enter an app name. Use winman.close_app() to find the app, and then close it

After both option 2 and 3, show the name of the new current app by calling the get_current() function (If an app is closed, then the next app becomes the new current app as long as other apps are running).

Option 4 calls winman.next() and shows the current app

Option 5 calls winman.previous() and shows the current app

Option 0 exits your running program.

Sample main()

int main() { WindowManager winman; // simulate some apps running winman.start_app("Microsoft Word"); winman.start_app("Firefox"); winman.start_app("Halo"); winman.start_app("Calculator"); // at this point, Calculator is the last app launched // and should be the value of current in winman int action; do { cout << "1 - Launch new app" << endl; cout << "2 - Close current app" << endl; cout << "3 - Find app, then close it" << endl; cout << "4 - Go to next app" << endl; cout << "5 - Go to previous app" << endl; cout << "0 - Shutdown" << endl; cin >> action; // fill in the rest of the necessary code to perform // menu actions } while (action != 0); cout << "Shutting down..." << endl; return 0;}