Assume that you are a CEO of a certain company. The company is building its Internal Environment:

1. Management’s philosophy, operating style, and risk appetite

2. Commitment to integrity, ethical values, and competence

3. Internal control oversight by the board of directors

4. Organizational structure

5. Methods of assigning authority and responsibility

6. Human resource standards that attract, develop, and retain competent individuals

7. External influences

Below, fill up the company's profile.

Then choose 4 aspects from above to give clear and specific examples of. You should provide one good and one bad example for each aspect. BE specific to your own company environment/business/culture (for example by mentioning department names, people names, detailed events, …).

You are the CEO of a widget manufacturing company. The company is experiencing financial trouble, and needs to produce more widgets in order to stay in operation. In order to encourage your employees, you declare at a meeting that “if everyone works really hard this year and we meet production standards, I’ll give every employee $100.” Employees work unusually hard in response and by the end of the year the firm meets the expected standards. It is also in much better financial condition. Considering both the legal and business implications, evaluate whether or not you should make the payments.

Alan Tan is the CEO for an airline company. The company has a large proportion of its aircraft leased from manufacturers under lease agreements that can be cancelled at any time with minimal penalties. At the end of the period starting on 1 January 2019, looking at the statement of financial position prepared by the company accountant, Joyce Maine, Alan noticed a large increase in the total assets and liabilities. Not being aware of any major restructuring activities or investments during the period but having heard about a change in the accounting rules governing leases, Alan asks Joyce to prepare a report describing how the changes in those accounting rules affect the company.

Required

Joyce approaches you, a junior accountant, to summarise the changes in the treatment of some leases that caused the large increase in the total assets and liabilities. Provide a short description of those changes to Joyce.

The CEO of a company wants to estimate the percent of employees that use company computers to go on Facebook during work hours. He selects a random sample of 200 of the employees and finds that 76 of them logged onto Facebook that day. Construct a 95% confidence interval for the population proportion.

Answer the following questions in the Answer box.

a. i) Sample proportion = ?    a. ii) critical value Z = ? a. iii) Standard error = ?    a. iv) Margin of error = ?    a. v) Lower limit = ?    a. vi) upper limit = ?

The CEO of a company wants to estimate the percent of employees that use company computers to go on Facebook during work hours. He selects a random sample of 200 of the employees and finds that 76 of them logged onto Facebook that day. Construct a 95% confidence interval for the population proportion.

Answer the following questions

a. i) Sample proportion = ?    a. ii) critical value Z = ? a. iii) Standard error = ?    a. iv) Margin of error = ?    a. v) Lower limit = ?    a. vi) upper limit = ?

You work for an international food and beverage company, and the CEO of the company wants to introduce a new product in the US market for 2021. Your team is charged with the following tasks:

1. Develop a new food/beverage product concept that can be brought to market by 2021.  The product should have broad appeal for the US market (i.e., nothing illegal or distasteful).
2. Present a five-year marketing plan to upper management that includes a description of the product, a plan for where it will be sold, a summary of the existing competition, projected industry changes (using a supply and demand framework), and recommended promotion strategies that can help to sustain sales volume and profits for several years.
3. The CEO is especially concerned about the risks of a persistent recession in the next 2-3 years, so your plan should consider ways to make the new product less susceptible to recession.

You should assemble a document that addresses each of these components for the product launch. The points assigned to this project are evenly divided among 6 components -- product description, prediction of industry changes using supply and demand, competition summary, marketing and promotional strategies, recession resilience, and presentation quality. So, you should allocate most of your effort to the economic components of this analysis.

Requirements: Provide a 1,000 word (or 4 pages double spaced) minimum paper. The title page should include the list of all members of your group.

Chapman Company obtains 100 percent of Abernethy Company’s stock on January 1, 2020. As of that date, Abernethy has the following trial balance:

During 2020, Abernethy reported net income of $117,500 while declaring and paying dividends of $15,000. During 2021, Abernethy reported net income of $171,250 while declaring and paying dividends of $55,000.

Assume that Chapman Company acquired Abernethy’s common stock for $816,280 in cash. Assume that the equipment and long-term liabilities had fair values of $396,950 and $140,720, respectively, on the acquisition date. Chapman uses the initial value method to account for its investment.

Prepare consolidation worksheet entries for December 31, 2020, and December 31, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

• Prepare entry S to eliminate stockholders' equity accounts of subsidiary.
• Prepare entry A to recognize allocations in connection with acquisition-date fair values.
• Prepare entry I to eliminate intra-entity dividends.
• Prepare entry E to recognize 2020 amortization expense.
• Prepare entry *C to convert parent company figures to equity method.
• Prepare entry S to eliminate stockholders' equity accounts of subsidiary for 2021.
• Prepare entry A to recognize allocations attributed to specific accounts at acquisition date for 2021.
• Prepare entry A to recognize allocations in connection with acquisition-date fair values.
• Prepare entry E to recognize 2021 amortization expense.

For each independent situation:

1. A former employee of Melvin Minimarket Inc. sued the company for $900,000, alleging that the company owner harassed her. Melvin's lawyers suggest that the lawsuit has a 30-40% probability of success and that, if successful, the plaintiff will be awarded between $400,000 and $500,000.

2. Leduc Pyrotechnics Ltd. received a $15,000 fee to guarantee the $800,000 bank indebtedness of Kenora Fireworks Inc. The fair value of the guarantee is initially estimated to be $15,000.

3. Montomery Syringes Co. sued a competitor for $800,000, alleging corporate espionage. Montomery's legal counsel believes that the company will be successful and will be awarded somewhere in the range of $650,000 to $800,000.

Required:

Describe how the event should be dealt with in the financial statements and explain why. Prepare all required journal entries.