Sunday, February 23, 2020
Questions-600-6 - Essay Example Also, both standards differ on the criteria used in derecognizing receivables in that US standard uses loss of control while the international standard combines loss of control and risk and rewards criteriaÃ¢â¬â¢s. Recovery losses on prior impairments may be recorded by Walton under iGAAP (Barden et al, 2009). On the other hand, under US GAAP, impairment reversals are not allowed. However, the loan balance after impairment is used as the new basis for the loan. Major differences occur in the methods of valuing inventories. US GAAP allows use of LIFO (last in, First out) inventory valuation method while the international standard does not permit LIFO (Barden et al, 2009). Also, US GAAP allows the costs of spoilage and idle capacity in inventory while iGAAP does not. Lastly, iGAAP allows reversal of write downs, if any, in inventories while UA GAAP does not. 10% profit and loss test- The absolute value of the segments reportable profit loss is 10% or more of the greater of the overall reported profit of all segments reporting profits, or the absolute value of the combined reported losses of all segments reporting losses. To examine whether the reported segments are enough we will test the operating segment revenue without the intersegment sales. The threshold here is 75%. Therefore enough segments are reportable segment revenues Ã¢â° ¥ 75% consolidated revenues. b) Products costs should be matched with its associated product and revenues just as it is the case of annual reporting (Barden et al, 2009). Period costs are charged to earnings when incurred among interim periods. c) Income tax in interim financial statements should be based on the effective tax rate for the entire year for ordinary earnings (Barden et al, 2009). The effective tax rate combines states and federal income tax rates such as capital gains, foreign tax rates
Friday, February 7, 2020
Principles of Economics - Essay Example Other significant feature of this market model is the presence of a great deal of non-price competition as control over price is limited by their mutual interdependence. This is one of the significant behaviors of oligopolies when it comes to their pricing strategy. To have a better understanding of this oligopolistic pricing behavior, we will adopt a game theory model and use the matrix illustrated below. FIGURE 1. GAME THEORY AND PRICING STRATEGY Applying game theories in pricing strategies work like what is shown in Figure 1. Supposed we have the two oligopolists, Firm 1 and Firm 2 and each can choose either a high or low price. Their payoff matrix shows that if both firms will choose a high price, each will make $6 million but if both decided to sell at a low price, each will make $4 million. However, if one of them chooses a high price and the other one chooses a low price, the low- priced firm will make $8 million but the high-priced firm will only make $2 million. So, they wil l end up charging the low price because it is the dominant strategy. Oligopolists who are independent compete with respect to price and this will result to lower prices and lower profits. Consumers will end up benefitting from this. On the other hand, the oligopolists are at disadvantage because they will experience lower profits than if they both had charged high price. To avoid the outcome lower profit, they would rather choose to collude than to establish price competitively or independently. But the positive effect of collusion on variety and quality more than compensates consumers for the negative effect of collusive prices, so that consumer surplus is larger with collusion (Pakes 2000, p.1). Collusion is a situation in which firms act together and in agreement to set price of the product and the output each firm will produce or determine the geographic area in which each firm will sell (McConnell and Brue 1993 p.224). It may be in an overt or covert form. The most comprehensiv e form of an overt collusion is the cartel which typically involves a written agreement with respect to both price and production. Cartels can control output by making sure that the market is shared among members and the agreed price is maintained in the market (Lande and Marvel 2008, par. 2). The Organization of Petroleum Exporting Countries (OPEC) is one of the most successful oil cartel in the world. There are countries like United States where cartels are illegal and there is a strict enforcement of anti-trust laws (Danieljensenlaw.com par.2). So, in cases like this, oligopolists tend to collude implicitly This can be done through tacit collusion. Ã¢â¬Å"Tacit collusionÃ¢â¬ need not involve any Ã¢â¬Å"collusionÃ¢â¬ in the legal sense, and in particular need involve no communication between the parties. It is referred to as tacit collusion only because the outcome (in terms of prices set or quantities produced, for example) may well resemble that of explicit collusion or ev en of an official cartel. A better term from a legal perspective might be Ã¢â¬Å"tacit coordinationÃ¢â¬ (Marc, Julliene and Rey 2003, p.4). This may be seen in form of a price leadership. In the theory of price leadership, the basic assumption is that the dominant firm- usually the largest or the most efficient firm in the industry- sets the price and allows the other firms to sell all they can at that price
Wednesday, January 29, 2020
Competition Energy Drinks Essay The beverage industry, like most food service industries in these economic times, faces many challenges. Not one company is excluded from the challenges of economic conditions, demographics, social and global forces, and regulatory, political, and legal factors. The global economic conditions affect the energy drink industry in many ways. This industry depends highly on the disposable income of its customers. People are very cautious with their money these days and if additional income does not exist to purchase these items, then the companies suffer. In recent projections, however, this does not seem to be the case. The global industry factors show a projected growth of $20 trillion in sales between 2009 and 2014, and demand for these alternative beverages is expected to increase globally as customer purchasing power increases. Social factors play an important part in the industryÃ¢â¬â¢s strategy, as well. With customers concerned with healthy lifestyles and exercise, the alternative beverage industry has increased sales in the last decade. Customers demanding low calorie, energy vitamin-enhancing drinks turn to these types of beverages for their needs instead of carbonated soft drinks. Alternative drinks are consumed by a slim demographic. These products are generally used by young adults, college and high school students, athletes and exercise aficionados. Another branch of these drinks are the energy Ã¢â¬Å"shots,Ã¢â¬ which have become very popular in the last decade. With new legislation and changing regulations, it is very important for companies to stay abreast of all changes. There has been an increase in negative reports on what affects energy drinks have on people that use them, from high blood pressure to arrhythmia, which as forced some companies to include warning labels on their packaging. There is also a concern with the consumption of these drinks contributing to the obesity issue, many of these drinks contain high fructose corn syrup, and many additives that can contribute to weight gain if consumption is not limited. Competition is fierce in this industry; not only between the two biggest competitors, Coca-Cola Company and PepsiCo Inc., but also Red Bull GmbH, Hansen Natural Corporation and privately owned regional brands. The two major companies, Pepsi and Coca Cola, are strong competitors within the alternative beverage market and use both the introduction of new products as well as the introduction of existing products in new markets to increase sales. Pepsi has introduced several new products Charge, Rebuild, and Defend three new brands available to consumers interested in vitamin-enhanced drink alternatives. Pepsi has also recently agreed to distribute the Ã¢â¬Å"RockstarÃ¢â¬ brand drinks in Canada and the United States. Coca-Cola CompanyÃ¢â¬â¢s strategy is to distribute their existing brands in the new markets of Japan, South Korea, Hong Kong and other Asia/Pacific countries. In order to compete with these two major companies, Red Bull relies on sponsorships and promotion as well as celebrity endorsements. By using advertising in this manner, Red Bull is able to use its slogans and logos in a variety of ways to get their name out into the public. Hansen Natural Corporation utilizes a different approach to boost sales. This company increased their package size and still maintained a competitive price compared to Red Bull. Like Red Bull, Hansen also uses celebrity promotion and sponsorship as a marketing tool. This is not to say that PepsiCo Inc. and Coca-Cola Company do not utilize this method of advertising, as they both spend billions on advertising promotions, celebrity, and sporting endorsements. The competitive edge in this case lies with PepsiCo Inc. , whose sales of energy and alternative beverages have surpassed its competitors in the past few years. New entrants are not a strong competitive pressure for this industry. The dominating companies are unsurpassed in their strong brand names and great distribution channels. The industry is fully saturated. These factors make it difficult for new companies to compete against them. Any new company wanting to get into this industry would face high capital start-up expenditures and would surely fail due to the high cost. Substitution of products is also an area where the competitive force is low. With brand loyalty, the market for substitution is very low. Consumers want the brands they are used and wonÃ¢â¬â¢t accept substitution. Suppliers for the industry do not hold much competitive pressure either. Suppliers to this industry are bottling equipment manufactures and secondary packaging suppliers. The suppliers have little bargaining power, as the two major brands own their own bottling centers. As discussed earlier, changes in this industryÃ¢â¬â¢s long-term growth rate is a positive one. Growth is high in this market and is expected to continue to grow. One of the reasons for this is the increasing globalization. Coke is expanding its operations to be more global as are some of its competitors. The changing spectrum of the customer base is not really a factor here. Most of the demographic has not changed much since the introduction of these alternative beverages. Marketing and innovation has to continue to grow so that the company can grow. Regulatory influences and government policy changes are a huge factor in this industry. As the customers call for increased legislation and regulation of the ingredients, the companies have to make adjustments to their drink formulas, and this could prove costly if not monitored closely. Society is constantly changing and this industry needs to transition with these changes. By the introduction of new products and the re-tooling of existing products, all of the competitors can be successful. This industry has several success factors, product marketing, product differentiation, brand name, a strong distribution network and the ability to adapt to change. PepsiCo Inc. and Coca-Cola Company have strong aspects of all of these factors which is what has made both of them so successful. PepsiCo Inc.has branched into the food market as well as remaining in the soft drink and alternative beverage markets. Coke has had a similar strategy and relies heavily on their brand name and product recognition. All of the companies have unique and successful marketing techniques such as sponsorships, promotions, and celebrity endorsements. In order to achieve a successful strategic plan, a company needs to establish a group of people to discuss the goals and objectives of their company, sometimes called a task force. The task force should then decide what the companyÃ¢â¬â¢s goals and objectives are. By drafting Mission and Vision statements, this task force can begin to convey their goals and objectives. Strategic planning is an on-going task for every company. When a plan is established the implementation and monitoring phases begin. To be successful a company should be constantly monitoring its goals and objectives and changing them when the need arises. With competition so high in this industry, a strong strategic plan is critical. In viewing these companies one can see that their plans are very strong. In order to continue to grow and compete in this market all companies need to look forward at the changing times, attitudes and cultures. All of the companies in this market, as with any market, need to maintain their competitive advantage and find new and different ways to achieve it. A comprehensive action plan needs to be put into place and reviewed often. By doing this all companies have a better chance at keeping their competitive advantage and enjoying better profits for their shareholders.
Tuesday, January 21, 2020
This story depicts how a certain innocent person was condemned and was sentenced to death for a crime he did but with an innocent motive. The story goes on around a certain person's life in a ship where he was said to be one of the crew. Billy as a character depicted in the story is a person whose innocence can not be changed into hatred for other people. Though his surrounding is full of people with evil motives, he is still into trusting them with full innocence. Evilness beyond comprehension Such evilness is beyond the main character's understanding, and his being weak causes him to lose his sense of defending himself. With this state of the character's condition, some people around him tend to abuse his weakness, such as the character which is depicted as an evil person in the story who?s Claggart. Claggart as an evil influence in the story caused Billy to use a brutal way to express Billy?s madness because he is speechless, Billy was then susceptible in making an attack due to the evil atmosphere on the ship. By Billy?s innocence, he was dragged to the wilderness of violence. It is beyond his comprehension that it is indeed the evil?s intention to ruin the goodness in his heart. Indeed the evilness had him off guard that had caused him to be condemned. The writer depicted his main character?s innocence as something to be really loved and liked by other people but also a personality which is something to be pitied about. Billy depicting Jesus Christ In simple but complex ways, the main character was said to be somehow depicting Jesus Christ?s sacrifice for the betterment of everyone. He was, as Jesus was condemned to death though they are both innocent. It is showed in the story that the main character?s in... ...could cause a certain person weakness and vulnerability that could be the main cause for him/her to be deprived by others by his own life. Thesis This story only tends to show the readers how difficult it is to live in this world full of evil forces thus a person like Billy is innocent about such thing. It depicts how a human would only suffer of his innocence in this kind of world. And that innocence is vulnerable to evilness and deprivation to life as the character was deprived of his life due to his innocence and lack of comprehension about evilness. Also that the law which is supposed to give justice, it is the one that deprives people by not considering a certain accused persons statement or side. The kind of law in the story is the one that manipulates a person to view the case in a right manner according to the true essence of justice (Melville, 1924).
Monday, January 13, 2020
The agreed ways of working are set of codes by the employer for the social care worker to conduct and inform service users and the public about the standards of conduct they can expect and includes legislation, practice standards and employersÃ¢â¬â¢ policies and procedures that should be met. It is the responsibility of social care workers to work within the policy guidelines and following the laid Ã¢â¬âdown procedures and ensuring that their conduct does not follow below the standards set out and that no action or omission on their part harms the wellbeing of service users. The importance of having full and up-to-date details of the agreed ways working. It is the requirement of the organisation to adhere to relevant legislation and to form their policies and procedures in respect of new legislation changes .e.g. Equality act 2010 is a fairly new act so necessary that it must be reflected in the organisationÃ¢â¬â¢s policies and procedures. To ensure the safety and well being of service users, staff and the public.To ensure staff are clear on their duties, roles and responsibilities and can carry out their job in the right way. The needs of service users change, staff members change, staff skills and abilities change so support plans, guidelines and risk assessments must reflect this, to help providing a service that the individual needs, as set out in their care plan are met. To ensure continuity of care and to prevent misunderstanding and confusion. ItÃ¢â¬â¢s important that all information is relevant and up to date.
Saturday, January 4, 2020
Friday, December 27, 2019
Here well consider how transitional words and phrases can help make our writing clear and cohesive. A key quality of an effective paragraph is unity. A unified paragraph sticks to one topic from start to finish, with every sentence contributing to the central purpose and main idea of that paragraph. But a strong paragraph is more than just a collection of loose sentences. Those sentences need to be clearly connected so that readers can follow along, recognizing how one detail leads to the next. A paragraph with clearly connected sentences is said to be cohesive. The following paragraph is unified and cohesive. Notice how the italicized words and phrases (called transitions) guide us along, helping us see how one detail leads to the next. Why I Dont Make My Bed Ever since I moved into my own apartment last fall, I have gotten out of the habit of making my bed--except on Fridays, of course, when I change the sheets. Although some people may think that I am a slob, I have some sound reasons for breaking the bed-making habit. In the first place, I am not concerned about maintaining a tidy bedroom because no one except me ever ventures in there. If there is ever a fire inspection or a surprise date, I suppose I can dash in there to fluff up the pillow and slap on a spread. Otherwise, I am not bothered. In addition, I find nothing uncomfortable about crawling into a rumpled mass of sheets and blankets. On the contrary, I enjoy poking out a cozy space for myself before drifting off to sleep. Also, I think that a tightly made bed is downright uncomfortable: entering one makes me feel like a loaf of bread being wrapped and sealed. Finally, and most importantly, I think bed-making is an awful way to waste time in the morning. I would rather spend th ose precious minutes checking my email or feeding the cat than tucking in corners or snapping the spread. Transitional words and phrases guide readers from one sentence to the next. Although they most often appear at the beginning of a sentence, they may also show up after the subject. Here are some of the most common transitional expressions in English, grouped according to the type of relationship shown by each. 1. Addition Transitions andalsobesidesfirst, second, thirdin additionin the first place, in the second place, in the third placefurthermoremoreoverto begin with, next, finallyExampleIn the first place, no burning in the sense of combustion, as in the burning of wood, occurs in a volcano; moreover, volcanoes are not necessarily mountains; furthermore, the activity takes place not always at the summit but more commonly on the sides or flanks; and finally, the smoke is not smoke but condensed steam.(Fred Bullard, Volcanoes in History, in Theory, in Eruption) 2. Cause-Effect Transitions accordinglyand soas a resultconsequentlyfor this reasonhencesothenthereforethusExampleThe study of human chromosomes is in its infancy, and so it has only recently become possible to study the effect of environmental factors upon them.(Rachel Carson, Silent Spring) 3. Comparison Transitions by the same tokenin like mannerin the same wayin similar fashionlikewisesimilarlyExampleThe heaping together of paintings by Old Masters in museums is a catastrophe; likewise, a collection of a hundred Great Brains makes one big fathead.(Carl Jung, Civilization in Transition) 4. Contrast Transitions buthoweverin contrastinsteadneverthelesson the contraryon the other handstillyetExampleEvery American, to the last man, lays claim to a sense of humor and guards it as his most significant spiritual trait, yet rejects humor as a contaminating element wherever found. America is a nation of comics and comedians; nevertheless, humor has no stature and is accepted only after the death of the perpetrator.(E. B. White, The Humor Paradox) 5. Conclusion and Summary Transitions and soafter allat lastfinallyin briefin closingin conclusionon the wholeto concludeto summarizeExampleWe should teach that words are not the things to which they refer. We should teach that words are best understood as convenient tools for handling reality. . . Finally, we should teach widely that new words can and should be invented if the need arises.(Karol Janicki, Language Misconceived) 6. Example Transitions as an examplefor examplefor instancespecificallythusto illustrateExampleWith all the ingenuity involved in hiding delicacies on the body, this process automatically excludes certain foods. For example, a turkey sandwich is welcome, but the cumbersome cantaloupe is not.(Steve Martin, How to Fold Soup) 7. Insistence Transitions in factindeednoyesExampleThe ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else.(John Maynard Keynes, The General Theory of Employment, Interest, and Money) 8. Place Transitions abovealongsidebeneathbeyondfarther alongin backin frontnearbyon top ofto the leftto the rightunderuponExampleWhere the wall turns up to the right you can continue by the beck but a better path is to be found by turning with the wall and then going to the left through the bracken.(Jim Grindle, One Hundred Hill Walks in the Lake District) 9. Restatement Transitions in other wordsin shortin simpler termsthat isto put it differentlyto repeatExampleAnthropologist Geoffrey Gorer studied the few peaceful human tribes and discovered one common characteristic: sex roles were not polarized. Differences of dress and occupation were at a minimum. Society, in other words, was not using sexual blackmail as a way of getting women to do cheap labor, or men to be aggressive.(Gloria Steinem, What It Would Be Like If Women Win) 10. Time Transitions afterwardat the same timecurrentlyearlierformerlyimmediatelyin the futurein the meantimein the pastlatermeanwhilepreviouslysimultaneouslysubsequentlythenuntil nowExampleAt first a toy, then a mode of transportation for the rich, the automobile was designed as mans mechanical servant. Later it became part of the pattern of living.