The depreciation charge on plant and machinery for the year to 31 December 20×2, to the nearest pound is £550.Straight line depreciation method is the method of calculating the depreciation expense for an asset by subtracting its salvage value from its purchase price, calculating that amount by the expected life of the asset and dividing by the total units expected to be produced.
The balance on an entity's plant and machinery account on 1 January 20×2 was £5,000. During that year the following transactions took place on the dates shown:1 May 20×2 Plant which had originally cost £750, was sold 1 September 20×2 New machinery costing £3,000 was purchased. If depreciation is calculated at a rate of 10% per annum, on a strict time basis, using the straight line basis, the depreciation charge on plant and machinery for the year to 31 December 20×2, to the nearest pound is £550.Therefore, the depreciation charge on plant and machinery for the year to 31 December 20×2, to the nearest pound is £550.
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Which of the following statements is false? Select one: a. Intra-unit transfers include food items exchanged between departments of a food operation. b. To verfy the price, the receiving clerk compares the invoice price with the quoted price c. Directs purchases are a part of the in wentory uifit they are issued for direct usage in production d. It is the best practice to verify incoming delivery products against purchase specifications
The false statement is, "Directs purchases are a part of the in wentory uifit they are issued for direct usage in production.
"Explanation:
There are four statements given here, and we need to identify which one is false. Let's go through each statement one by one:
a. Intra-unit transfers include food items exchanged between departments of a food operation.
This statement is true. Intra-unit transfers refer to the transfer of goods from one department to another within the same operation, and it may include food items as well.
b. To verify the price, the receiving clerk compares the invoice price with the quoted price.
This statement is true. When the goods are received, the receiving clerk compares the invoice price with the quoted price to make sure there is no discrepancy.
c. Direct purchases are a part of the inventory unit they are issued for direct usage in production.
This statement is false. Direct purchases are not a part of the inventory unit. These are the purchases made for immediate use in the production process.
For example, if a restaurant buys fresh vegetables for today's service, it is a direct purchase.
The inventory unit keeps track of the items used for storage and future use.
d. It is the best practice to verify incoming delivery products against purchase specifications.
This statement is true. It is essential to check the incoming delivery against the purchase specifications to ensure the quality and quantity of the goods received.
So, the false statement is, "Directs purchases are a part of the inventory unit; they are issued for direct usage in production."
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How would IFRS being principle-based rather than rule-based affect financial ratio comparison involving American and EU companies? Do you think that American and European managers would differ in their likelihood of engaging earnings management? Why?
IFRS (International Financial Reporting Standards) is a set of principles that govern the preparation and presentation of financial statements.
IFRS has replaced most local accounting standards, such as GAAP in the US and has been adopted in many countries around the world including in the EU. The IFRS being principle-based instead of rule-based would affect financial ratio comparison involving American and EU companies in the following ways:As IFRS is principle-based, it would allow companies to have more flexibility in interpreting accounting principles.
Companies could report financial results that may not align with other companies in the same industry, making it difficult for financial ratio comparisons. For instance, the interpretation of revenue recognition criteria could be different. Some companies may recognize revenue as soon as a sale is made, while others may wait until the goods are delivered and accepted by the buyer.
This could lead to different ratios, such as profitability ratios, which could make the comparison of American and EU companies challenging.
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Bard Inc. is currently comparing a potential implementation of Activity-Based Costing (ABC) with their current use of traditional costing and comparing the results. Bard creates two products: Candy Bars, 60,000 units; and lollipops, 82,000 units. Under ABC, Manufacturing Overhead (MOH) is allocated at $43,877.44 to candy bars and $32,781.90 to lollipops. Under traditional costing, MOH is allocated at $46,707.87 to candy bars and $29,915.47 to lollipops. Which of the following statements is correct?
Unit cost will be higher for lollipops under traditional costing than ABC.
Unit cost will be lower for candy bars under ABC than traditional costing.
Unit cost will be lower for candy bars under traditional costing than ABC.
Unit cost will be lower for lollipops under ABC than traditional costing.
The right choice is "Unit cost will be lower for candy bars under ABC than traditional costing." Activity-Based Costing (ABC) and traditional costing are compared by Bard Inc. The organization produces two items, candy bars and lollipops, and has allocated overheads using both traditional and ABC methods.
The MOH allocated by ABC for candy bars and lollipops is $43,877.44 and $32,781.90, respectively. On the other hand, traditional costing assigns $46,707.87 and $29,915.47 to candy bars and lollipops, respectively. This shows that under traditional costing, MOH allocated to candy bars is higher than it is under ABC while the MOH allocated to lollipops is lower under ABC than it is under traditional costing. This tells us that: Unit cost will be lower for candy bars under ABC than traditional costing. Therefore, the right choice is "Unit cost will be lower for candy bars under ABC than traditional costing."
Explanation: Under ABC, Manufacturing Overhead (MOH) is allocated at $43,877.44 to candy bars and $32,781.90 to lollipops while Under traditional costing, MOH is allocated at $46,707.87 to candy bars and $29,915.47 to lollipops. This means that MOH allocated to candy bars is higher under traditional costing than ABC, and MOH allocated to lollipops is lower under ABC than traditional costing. Thus, it can be inferred that unit cost will be lower for candy bars under ABC than traditional costing.
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Wilson Company prepared the following preliminary budget assuming no advertising expenditures: Selling price ........................ $10 per unit
Unit sales..............................100,000
Variable expenses.................$600,000
Fixed expenses.....................$300,000
Based on a market study, the company estimated that it could increase the unit selling price by 20% and increase the unit sales volume by 10% if $100,000 were spent on advertising. Assuming that these changes are incorporated in its budget, what should be the budgeted net operating income?
the budgeted net operating income will be $320,000 after the given changes are incorporated in the budget.
The solution is given below:
It is given that:
Selling price = $10 per unit
Unit sales = 100,000
Variable expenses = $600,000
Fixed expenses = $300,000
If the company estimates to increase the unit selling price by 20% and increase the unit sales volume by 10%, then the new selling price will be:
Selling price = $10 + 20% of $10
Selling price = $12
Variable expenses will not change.
Fixed expenses will remain the same.
Expenditure on advertising = $100,000
New unit sales = 100,000 + 10% of 100,000
New unit sales = 110,000
The budgeted net operating income can be calculated as follows:
Budgeted revenue = New unit sales × Selling price
Budgeted revenue = 110,000 × $12
Budgeted revenue = $1,320,000
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You are asked to analyse a contemporary and in future magnifying change in an international supply chain context that demonstrates the importance of sustainability. Select a case of sustainability opportunities in a global supply chain, and use that case to explain best practices and critical aspects of either • sourcing strategy or • supplier selection. The task requires you to apply the evidence (data and theory implications) to making informed judgements about the contemporary developments of the industry and market dynamics in question. Students should acknowledge theory, secondary data and qualitative case evidence alike. The notion of an applied literature review here is that you use journal articles, secondary data and complementary trade journals and company reports for the purposes of an industry-level analysis. Explicitly choose one specific country and one specific industry to demonstrate your arguments.
Sustainability in supply chain refers to practices that consider the impact of environmental, social and economic factors in global supply chain networks, processes, and systems. Sustainability has emerged as an important concern in international supply chain management.
The purpose of this question is to examine a contemporary and magnifying change in international supply chain context that demonstrates the importance of sustainability.
Best practices and critical aspects of either sourcing strategy or supplier selection should be used to explain a case of sustainability opportunities in a global supply chain.
The textile and clothing industry in Bangladesh is an example of a case of sustainability opportunities in a global supply chain. Bangladesh has emerged as a leading textile and clothing exporting country to Europe and North America.
Despite several challenges, such as poor infrastructure, weak governance, low labour standards, and sub-standard environmental practices, Bangladesh has successfully developed a competitive advantage in textile and clothing exports.
The industry is the largest employment provider in Bangladesh, with over 4 million workers, most of whom are women. Textile and clothing exports account for over 80% of Bangladesh's total export earnings.
The Bangladesh textile and clothing industry's most significant sustainability challenge is to balance economic, environmental, and social objectives. Several initiatives have been taken to address these challenges. For example, suppliers are increasingly incorporating environmental and social standards into their sourcing strategies.
Companies like Primark and H&M are leading the way in promoting ethical and sustainable production in Bangladesh. They have developed supply chain management systems that consider social, environmental, and ethical concerns.
Furthermore, trade unions and worker rights groups are actively advocating for better labour standards and working conditions. For instance, the Bangladesh Accord on Fire and Building Safety was developed after the 2013 Rana Plaza tragedy.
The Accord is a legally binding agreement between companies and trade unions that commits to ensuring safer working conditions in the industry.
The critical aspects of sourcing strategy or supplier selection include the evaluation of suppliers' sustainability performance. Supplier selection based on sustainability criteria is a significant element of sustainable supply chain management.
Suppliers are increasingly being evaluated based on environmental, social, and economic criteria. For example, the Fair Wear Foundation is a non-profit organisation that works with textile and clothing brands to improve labour standards in their supply chains.
The Foundation has developed a Code of Labour Practices that suppliers must adhere to. Brands like Jack Wolfskin, Haglöfs, and Patagonia work with the Foundation to evaluate their suppliers' sustainability performance.
Best practices for sustainable supply chain management in the textile and clothing industry include implementing environmental management systems, improving labour standards and working conditions, promoting ethical production, and encouraging social and environmental responsibility.
The critical aspects of sourcing strategy or supplier selection include the evaluation of suppliers' sustainability performance, the adoption of environmental and social standards, and the use of non-profit organisations like the Fair Wear Foundation to evaluate suppliers' sustainability performance.
These practices can help ensure the long-term sustainability of the textile and clothing industry in Bangladesh.
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What is the risk if a US corporation takes out a five year fixed rate loan in a low interest foreign currency and turns it into US$ without hedging?
• If the foreign currency strengthens too much.
• If the foreign currency weakens too much.
• If the foreign currency interest rates go much higher.
• If the US dollar strengthens by more than the interest rate differential.
A US corporation taking out a five-year fixed rate loan in a low-interest foreign currency and converting it into US dollars without hedging is subjected to certain risks.
These risks include:If the foreign currency strengthens too much, the US corporation would incur huge losses. This is because they have to pay back the loan in foreign currency which would now cost more dollars. For instance, suppose a US corporation borrows 1000 units of foreign currency at a fixed rate of 1%. In this case, the corporation would have to pay back 1010 dollars after a year.
Hence, it is important to monitor the interest rates in the foreign currency market closely to avoid such losses.If the US dollar strengthens by more than the interest rate differential, it would lead to losses for the corporation. For instance, if the US corporation had borrowed 1000 units of foreign currency at a fixed rate of 1%, they would have to pay back 1010 dollars after a year.
However, if the dollar strengthens by more than 1%, it would now cost more than $1010, hence leading to losses for the corporation. Therefore, to avoid such risks, it is advisable for US corporations to hedge their foreign currency loans. Hedging would help in minimizing the risks associated with the foreign currency loans.
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Icarus, a house painting company, had about 40 workers
but only 3 "employees" (the owner and two directors)—the
other 37 were characterized as "independent contractors"
with whom Icarus had signed commercial contracts that
clearly indicated them as such These workers were paid
by the project, not the hour Icarus found the customers
and provided the materials When Icarus refused to pay
several workers one week on the basis that their work was
unsatisfactory, those workers filed claims for unpaid wages
with the Ministry of Labour Icarus responded that since they
were not "employees," they could not file such claims
1. Under what employment statute would the workers file
their claims for unpaid wages?
2. Can an employer withhold wages for poor
workmanship from an employee under this statute?
3. Were the unpaid workers "employees" or "independent
contractors"? Explain your answer by referencing the
arguments that both parties might make
The workers argue they were employees due to control, reliance on Icarus, and lack of entrepreneurial opportunity.
1. Depending on the jurisdiction, the employees would probably bring their claims for unpaid wages under the relevant employment statute. The labor or employment standards legislation that regulates the rights and obligations of companies and employees, including the payment of salaries, may be the cause in many jurisdictions.
2. In general, employment laws prohibit employers from withholding an employee's compensation due to subpar labour. Regardless of the calibre of the work, wages are normally protected by law and should be paid in full for the task accomplished. However, certain countries may have particular rules and exclusions that permit deductions in specified situations, including harm brought on by an employee's deliberate misbehavior.
3. Determining the status of the unpaid workers as "independent contractors" or "employees" or "independent contractors" depending on the particulars and the laws in effect in the relevant jurisdiction. Based on the degree of control and supervision Icarus exercised over their work, the reliance on Icarus for income, and the lack of genuine entrepreneurial opportunity, the workers' argument might be that despite being labelled as independent contractors, they were actually employees.
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the attached file contains one year's (252 observations) worth of daily closing stock prices for apple: apple closing stock prices based on these data, what is the daily return 5% value at risk? (enter as a percentage - no % sign - to one decimal; i.e., x.x %)
The daily return 5% value at risk for Apple's stock can be calculated using the historical daily closing stock prices.
To calculate the daily return 5% value at risk, we need to find the maximum potential loss at a 5% confidence level. Here are the steps to calculate it: Sort the daily closing stock prices in ascending order. Calculate the daily returns by s ubtracting the previous day's closing price from the current day's closing price and dividing it by the previous day's closing price. Multiply the daily returns by -1 to convert them into loss values.
Calculate the 5% quantile of the loss values. This represents the maximum potential loss at a 5% confidence level. Express the result as a percentage, without the "%" sign. Let's say the sorted loss values (in percentage) are:
-3.2, -1.8, -2.1, -0.9, -1.3, -2.5, -1.1, -1.6, -2.0, -0.7, To find the daily return 5% value at risk, we look for the value at the 5th percentile. Suppose the value at the 5th percentile is -2.5%. Therefore, the daily return 5% value at risk for Apple's stock is 2.5 (without the "%" sign).
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he demand for money part 2 a. is positively related to the opportunity cost of holding money. b. is a downward sloping function of the interest rate. c. is an upward sloping function of the interest rate. d. none of the above.
Therefore, the correct answer is d. none of the above, as both options a and b are true.
The demand for money is influenced by the opportunity cost of holding money and the interest rate. Higher opportunity costs and higher interest rates tend to decrease the demand for money, while lower opportunity costs and lower interest rates increase the demand for money.
The demand for money is a concept in economics that refers to how much money individuals and businesses want to hold at a given time. It is influenced by various factors, including the opportunity cost of holding money and the interest rate.
a. The demand for money is positively related to the opportunity cost of holding money. This means that when the opportunity cost of holding money is high, people will demand less money. The opportunity cost of holding money refers to the benefits that could have been obtained by using that money for other purposes, such as investing or purchasing goods and services.
b. The demand for money is a downward sloping function of the interest rate. This means that as the interest rate increases, the demand for money decreases. When the interest rate is high, individuals and businesses will choose to hold less money and instead invest or save their funds to earn higher returns. On the other hand, when the interest rate is low, the demand for money increases as the opportunity cost of holding money decreases.
c. The statement that the demand for money is an upward sloping function of the interest rate is incorrect. As mentioned earlier, the demand for money is actually a downward sloping function of the interest rate.
d. Therefore, the correct answer is d. none of the above, as both options a and b are true.
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Analyzing and Computing Accrued Interest on Notes During the current year, Penman Inc. issued three short-term notes payable with principal and interest due at the end of the term of the note. Compute interest accrued for each of the notes payable as of December 31 of the current year (assume a 365-day year). Round answers to two decimal places. Issuance Coupon Lender Date Principal Rate(%) Term Accrued Interest Nissim 11/21 $30,000 1096 120 days $ Klein 12/13 22,000 8 90 days $ Bildersee 60 days $ 12/19 26,000 6
Compute the accrued interest for each of the notes payable as of December 31 of the current year, we need to use the formula.
Accrued Interest = Principal x Rate x Time. Note payable to Nissim:
Principal: $30,000
Rate: 10.96% (converted from 1096 basis points)
Term: 120 days
To calculate the accrued interest, we use the formula:
Accrued Interest = Principal x Rate x Time
Accrued Interest = $30,000 x 0.1096 x (120/365)
Accrued Interest = $30,000 x 0.1096 x 0.3288
Accrued Interest ≈ $1,082.86 (rounded to two decimal places)
Note payable to Klein:
Principal: $22,000
Rate: 8%
Term: 90 days
Accrued Interest = Principal x Rate x Time
Accrued Interest = $22,000 x 0.08 x (90/365)
Accrued Interest = $22,000 x 0.08 x 0.2466
Accrued Interest ≈ $428.13 (rounded to two decimal places)
Note payable to Bildersee:
Principal: $26,000
Rate: 6%
Term: 60 days
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Consider an economy that produces all the food it consumes, but imports all drinks it consumes from a trading partner. Let's say the price of drinks doubles over a given year.
Inflation measured with the GDP deflator ["will not", "will"] reflect this change in the cost of living; inflation measured with the CPI ["will not", "will"] reflect this change in the cost of living.
Inflation is the persistent rise in the general price level of goods and services in an economy. The Gross Domestic Product (GDP) deflator and the Consumer Price Index (CPI) are two measures of inflation.
If an economy produces all the food it consumes but imports all drinks it consumes from a trading partner and the price of drinks doubles over a given year, then inflation measured with the GDP deflator will reflect this change in the cost of living.Inflation measured with the CPI will also reflect the change in the cost of living.
The Consumer Price Index (CPI) is a measure of inflation that measures changes in the price level of a basket of consumer goods and services. It includes goods and services consumed by households, including drinks, clothing, housing, transportation, and food, among other things. The CPI measures the average change in prices over time for a basket of goods and services, including drinks. Therefore, if the price of drinks doubles, the CPI will record an increase in the overall cost of living.
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In economic terms, how would Hilo state what has happened when his coworker says she will help him fix his car because Hilo is willing to teach her son to play the drums? The arrangement acts as a money multiplier. Money is backed by commodities. There are two equal units of account. The double coincidence of wants is satisfied.
In economic terms, Hilo would state that his coworker's willingness to help him fix his car in exchange for teaching her son how to play drums is a form of barter trade. It is a mutually beneficial arrangement that satisfies the double coincidence of wants; this is because both parties have something the other party wants.
Therefore, they have no need to exchange currency in order to fulfill their respective wants. Hilo would also point out that the arrangement acts as a money multiplier in the sense that it increases the purchasing power of both parties. For instance, if Hilo were to take his car to a mechanic, he would have to pay cash to get it fixed.
However, since his coworker has agreed to help him, he can save that money. Similarly, if his coworker were to pay a professional drum instructor to teach her son how to play drums, she would have to spend cash.
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QUESTION 4
4.1 A toy company produces four different products that are processed in four distinct departments labelled A, B, C, and D. The below table indicates the processing information for the respective products.
4.1.1 Develop a from-to-chart for the four products.
4.1.2 Calculate the efficiency of the workflow.
(16)
(4)
To develop a from-to-chart for the four products and calculate the efficiency of the workflow, we need information on the flow of products between the departments.
Unfortunately, the table or specific details on the flow of products are not provided in your question. Please provide the necessary information or provide the table that indicates the processing information for the respective products, including the flow between departments, so that I can assist you further in developing the from-to-chart and calculating the efficiency of the workflow. Workflow refers to the sequence of tasks or activities required to complete a specific process or project within an organization. It involves the movement of information, materials, or tasks from one person or department to another in a predefined order. A well-designed workflow ensures efficiency, coordination, and smooth collaboration among team members. It helps streamline processes, automate repetitive tasks, and ensure proper allocation of resources. By defining roles, responsibilities, and decision points, workflows enhance productivity, reduce errors, and improve overall operational effectiveness. Effective workflow management is crucial for organizations to optimize their operations, achieve timely deliverables, and meet customer expectations.
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Questions 36 (10 marks) A closed economy is currently in its long-run equilibrium. Recently, there is advancement in payment technology such that households have more options to make payments and the importance of money being a medium of exchange falls. Note: Be sure to show the shift(s) of curve(s) and identify the new equilibriums in the diagram below. a) What happens to the short-run equilibrium levels of output and price? Explain. (5 points) b) What happens to the long-run equilibrium levels of output and price? Explain. (5 points)
a) In the short run, the advancement in payment technology leads to a decrease in the demand for money because people do not require holding as much money as before to make transactions. The decrease in the demand for money will lead to an excess supply of money in the market.
This will lead to a decrease in the interest rate which in turn increases investments and output. The increase in output will result in a temporary decrease in the price level.The short-run equilibrium output will increase while the price level will decrease as shown in the diagram below.b) In the long run, the increase in payment technology will lead to a lower demand for money, resulting in a new equilibrium. A decrease in the demand for money will lead to an excess supply of money in the market. Consequently, the interest rate will decrease, which will increase investment in the economy, leading to an increase in aggregate demand. The increase in aggregate demand will lead to an increase in output level, and as output level increases, the demand for money will also increase.
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Explain about how you would develop a business around imports from Angola to Canada. It consist of two sections that describe a different aspect of that country's economy and politics. These matters are all relevant in any decision to do business in another country.
Q.1. The Political Environment
How is the exporting country (Angola) governed? What are the most powerful political movements and parties? What political problems and conflicts in the country? How might those conflicts benefit or harm your importing business? What environmental issues in the exporting country may cause you problems?
Q.2. Reliability
What problems of corruption exist in your exporting country (Angola)? What dangers could such corruption cause for your business? If your exporting country is not especially corrupt, describe what other difficulties local government or business groups may still cause your business?
Tips- Transparency International is a non-governmental organization which tracks reports of state corruption and compiles a regular report, the Corruption Perception Index. This is an excellent source of information. Find other non-governmental organizations, including those associated with the United Nations, that can provide trustworthy economic and political information
The development of a business around imports from Angola to Canada requires understanding of the country’s political and economic landscape, so that you can minimize your risks and maximize your benefits. Angola is governed by a presidential republic system, with a president who serves as the head of state and government.
The most powerful political movement is MPLA and it has dominated the government since 1975. Political problems include human rights issues,
suppression of opposition groups, and corruption. The government’s crackdown on opposition groups could create some problems for your business, especially if your company is perceived to have a political agenda. Corruption is also a serious problem in Angola, and according to Transparency International's Corruption Perception Index, Angola ranks 165 out of 180 countries.
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Consider an open economy with flexible exchange rates. Output is at the natural level and there is a trade deficit. Also, the Marshall-Lerner condition holds. The government wants to reduce the trade deficit and leave the level of output at its natural level. What is the appropriate fiscal and monetary policy mix? a. an increase in interest rates and no fiscal policy variation b. an increase in interest rates and a fiscal expansion c. an increase in interest rates and a fiscal contraction d. a cut in interest rates and a fiscal expansion e. a cut in interest rates and a fiscal contraction
An open economy with flexible exchange rates requires a combination of monetary and fiscal policies to manage the balance of trade deficit.
The combination of the two policies will enable the government to reduce the trade deficit and leave the level of output at its natural level.
The appropriate fiscal and monetary policy mix for the government to reduce the trade deficit and leave the level of output at its natural level in an open economy with flexible exchange rates is option C, which is an increase in interest rates and a fiscal contraction.
An increase in interest rates will lead to an appreciation of the exchange rate, thereby making imports cheaper, and exports expensive, thus reducing the trade deficit.
Fiscal contraction will involve the government implementing austerity measures such as increasing taxes and reducing spending to reduce the overall demand for goods and services, which will also reduce the trade deficit.
Together, these policies will help the government to reduce the trade deficit while keeping the output level at its natural level.
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2. Suppose you were assigned to write the job description of a mortgage funder for a particular bank in Toronto. Give at least 2 methods with concrete details to collect job analysis data and information. Identify a bank you know in Toronto which has used a similar approach.
In order to write the job description of a mortgage funder for a particular bank in Toronto, the following methods can be used to collect job analysis data and information.Method 1: ObservationsObservation involves studying and recording the actions of individuals performing their jobs. It is a useful tool for gathering data about the job of a mortgage funder.
The following details can be observed: The amount of time funder spends on each task, the duties of a mortgage funder, their responsibilities, and their tasks. One of the banks in Toronto that used a similar approach is RBC Royal Bank.Method 2: InterviewsThe second method of collecting data about the job of a mortgage funder is interviews.
Interview questions can be asked of the individual holding the position or their supervisor, or they can be asked of the stakeholders who interact with the mortgage funder on a daily basis. Interview questions may be about the tasks that the funder completes, their skills, their level of authority, and the quality of their work.
The bank which used a similar approach is Scotiabank.In conclusion, banks such as RBC Royal Bank and Scotiabank in Toronto use observations and interviews as methods of collecting job analysis data and information. These methods help to write the job description of a mortgage funder for a particular bank in Toronto.
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Lincoln Industries has a line of credit at Bank Two that requires it to pay 11% interest on its borrowing and to maintain a compensating balance equal to 20% of the amount borrowed. The firm has borrowed $800,000 during the year under the agreement. Calculate the effective annual rate on the firm's borrowing in each of the following circumstances:
(Round to two decimal places.)
a. The firm normally maintains no deposit balance at Bank Two.
b. The firm normally maintains $80,000 in deposit balance at Bank Two.
c. The firm normally maintains $220,000 deposit balance at Bank Two.
d. Compare, contrast, and discuss your findings in parts a, b, and c.
a) If Lincoln Industries normally maintains no deposit balance at Bank Two, they will have to maintain a compensating balance of 20% of the borrowed amount which is $800,000. 20% of $800,000 is $160,000.
So the actual amount available to the company is the borrowed amount minus the compensating balance which is $800,000 - $160,000 = $640,000.The interest the company has to pay on the loan is 11% of the borrowed amount which is $800,000 × 11% = $88,000.
Therefore, the effective annual rate is ($88,000/$640,000) × 100%
= 13.75%.
b) If the firm normally maintains $80,000 in deposit balance at Bank Two,
then the amount available to the firm for borrowing is $800,000 - $80,000
= $720,000.20% of $720,000 is $144,000.
The actual amount of the loan will be $720,000 - $144,000 = $576,000.The interest on the loan is 11% of the borrowed amount which is $576,000 × 11% = $63,360.
In part (c), the effective annual rate remains at 11.00% when the company maintains a deposit balance of $220,000 because the amount available to borrow further reduces to $464,000. So, by maintaining a deposit balance, the amount available to borrow decreases and the effective annual rate decreases as well.
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Explain the nature of liquidity ratios:
Current ratio
Acid-test (quick) ratio
Receivables turnover
Inventory turnover
Explain the nature of profitability ratios:
Profit margin
Asset turnover
Return on assets
Return on common stockholder’s equity
Earnings per share (EPS)
Explain the nature of solvency ratios:
Debt to total asset ratio
Times interest earned
Liquidity Ratios: Current Ratio: The current ratio is a liquidity ratio that measures a company's ability to pay its short-term liabilities using its short-term assets.
Acid-Test (Quick) Ratio: The acid-test ratio, also known as the quick ratio, is a more stringent measure of liquidity compared to the current ratio. It excludes inventory from current assets because inventory may not be easily converted to cash. The acid-test ratio is calculated by dividing quick assets (current assets minus inventory) by current liabilities. It provides a more conservative assessment of a company's ability to meet short-term obligations.
Solvency Ratios to Total Asset Ratio: The debt to total asset ratio measures the proportion of a company's assets that are financed by debt. It is calculated by dividing total debt by total assets. A higher ratio indicates a higher degree of leverage and potential financial risk.
Times Interest Earned: The times interest earned ratio, also known as the interest coverage ratio, assesses a company's ability to meet its interest obligations. It is calculated by dividing earnings before interest and taxes (EBIT) by interest expense. A higher times interest earned ratio indicates a better ability to cover interest payments and suggests a lower risk of financial distress.
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Since companies have different numbers of shares outstanding, it is not useful to compare earnings per share ratios. True.
The given statement "Since companies have different numbers of shares outstanding, it is not useful to compare earnings per share ratios." is False.
While it is true that companies may have different numbers of shares outstanding, comparing earnings per share (EPS) ratios can still be useful. EPS is calculated by dividing the net earnings of a company by the number of shares outstanding.
By comparing the EPS of different companies, investors and analysts can gain insights into the profitability and performance of the companies on a per-share basis, regardless of the number of shares outstanding. It allows for meaningful comparisons between companies and can be a useful metric in evaluating investment opportunities. The given statement is false.
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population increases that resulted from the baby boom of the 1950s and 1960s contributed to a
Population increases resulting from the baby boom of the 1950s and 1960s contributed to a variety of social, economic, and cultural changes.
The baby boom, a significant increase in birth rates following World War II, led to a substantial population growth in the 1950s and 1960s. This demographic shift had far-reaching effects on society. Economically, the increased population created a larger consumer market, driving demand for goods and services and stimulating economic growth. Socially, the baby boomers shaped the landscape of education, healthcare, and housing, as their large numbers required expanded infrastructure and services to accommodate their needs. Culturally, the baby boom generation influenced trends, attitudes, and values, leaving an indelible mark on art, music, fashion, and popular culture. The population increases resulting from the baby boom had profound implications across various aspects of society, shaping the subsequent decades in significant ways.
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In order to accumulate enough money for a down payment on a house, a couple deposits $201 per month into an account paying 6% compounded monthly. If payments are made at the end of each period, how much money will be in the account in 5 years? Type the amount in the account: $ (Round to the nearest dollar.)
The amount in the account after 5 years will be approximately $15,093.
To calculate the future value of the account after 5 years, we can use the formula for compound interest:
FV = P * (1 + r)^n
Where:
P = Monthly deposit = $201
r = Monthly interest rate = 6% (convert to decimal: 0.06)
n = Number of periods = 5 years * 12 months/year = 60 months
Substituting the values into the formula:
FV = $201 * (1 + 0.06)^60
Using a calculator, we find that the future value (amount in the account) is approximately $15,093. Therefore, the amount in the account after 5 years will be approximately $15,093.
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One day in 2002 Bob told the owner of Cheesy Auto Sales and Cheesy Collision, Charlie, that he was interested in buying a used Lexus. Charlie attended at an auto auction business where he saw a 1998 Lexus. He was given a damage inspection report stating that $24,900 in repairs were necessary. Charlie called Bob and told him that he had located a Lexus which was damaged but that he could bring it to "showroom condition" for $5,000. On the auction day Bob was not allowed inside the auction; however he communicated with Charlie by telephone. Charlie successfully bid on the Lexus. He told Bob that he had paid $32,000. In fact Charlie paid $27,000 and purchased a car for his wife for the sum of $5,000. Initially Bob gave Charlie $5,000 for the repairs; however, Charlie demanded to more payments of $7,000 and $5,000 in November and Bob paid. When Bob went to pick up the car, Charlie demanded a further $5,000 before he would release the car. Again Bob paid. The repairs to this point totaled $22,000. Almost immediately Bob noted that the car did not drive well. Bob had it checked out by another auto repair shop and he was told that the car was not safe to drive. He demanded that Charlie take back the car. Charlie responded that he would try to sell it for him. That did not happen and therefore Bob retook possession and had repairs done at a cost of a further $15,000.
Bob sued Charlie, Cheesy Auto Sales and Cheesy Collision
1. What is the legal issue
2. What is the rule of law here?
3. Argument for Bob?
4. Argument for Charlie?
1. Legal issue: The legal issue that has emerged from the facts is whether Charlie, Cheesy Auto Sales and Cheesy Collision are liable for breaching the contract with Bob or not.
2. Rule of Law: In this case, the breach of contract is the central rule of law. The terms of the contract, its enforceability, the extent to which Charlie, Cheesy Auto Sales and Cheesy Collision have met their obligations under the agreement, and the damages Bob is entitled to are all important components of the rule of law in this case.
3. Argument for Bob: Bob could contend that Charlie, Cheesy Auto Sales and Cheesy Collision have committed a breach of contract by not delivering the promised item. Furthermore, Bob could contend that he was overcharged for the repairs, which were not performed according to professional standards, and that Charlie acted fraudulently by concealing the vehicle's defects.
4. Argument for Charlie: Charlie, Cheesy Auto Sales, and Cheesy Collision, on the other hand, may argue that they acted in accordance with the terms of the contract and delivered the car after it was completely repaired. Charlie can also argue that Bob was well aware of the vehicle's history and that the decision to purchase the car was Bob's alone. He may also argue that the repairs were costly and that they were unable to repair the car to Bob's satisfaction, which was outside of their control.
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What is the main difference between a privately held company and a publicly held company? O Privately held companies are started by individuals and public ones are started by the government. O Privately held companies have shares owned by investors while publicly held companies have their shares available to the public on Wall Street. O Privately held companies are owned by citizens, and publicly held ones have shares owned by the government. O Privately held companies are for-profit, while publicly held ones are non-profit. Question 4 1 pts Nonprofit organizations do not aim to make money for shareholders. O True O Fals
The main difference between a privately held company and a publicly held company is that privately held companies have shares owned by investors, while publicly held companies have their shares available to the public on Wall Street.
In a privately held company, ownership is typically held by a small number of individuals or a closely-knit group, and the shares are not traded on a public stock exchange. In contrast, publicly held companies have their shares listed on a stock exchange, allowing anyone to buy and sell the shares.
Regarding the second question, it is true that nonprofit organizations do not aim to make money for shareholders. Nonprofit organizations, also known as non-governmental organizations (NGOs) or charities, are typically formed for social, cultural, educational, or humanitarian purposes.
Their primary objective is to serve a specific cause or provide a public benefit, rather than generating profits for shareholders. Nonprofit organizations often rely on donations, grants, and funding from various sources to support their activities and achieve their mission.
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Sometimes consumers put off purchase decisions until the last minute. Think about the Last-Minute Shopper segment discussed in Consumer Insight 1–1: Have you ever still been shopping on Christmas Eve? Or have you ever waited until right before a vacation to book a flight and hotel? Well, you are not alone, and the consequences are significant. A recent study examined how people react to different advertising themes when they were either booking a last-minute summer vacation or planning for a winter-break vacation many months away. Two ad themes for an online travel service were created, with differing taglines, as follows:24
Prevention-focused ad: Don’t get stuck at home! Don’t get ripped off!
Promotion-focused ad: Give yourself a memorable vacation! Get the best deals!
After viewing the ads, consumers were asked how much they would pay for a ticket from the service. The results may surprise you because scaring people sometimes led to a willingness to pay more, but not always. Can you predict when the prevention-focused ad worked better and when the promotion-focused ad worked better? Here are the results:
Last-minute summer vacation (how much would you pay for a ticket?)
Prevention-focused ad: $672
Promotion-focused ad: $494
Future winter-break vacation (how much would you pay for a ticket?)
Prevention-focused ad: $415
Promotion-focused ad: $581
This may seem odd until you consider the fact that when consumers are shopping at the last minute (last-minute summer vacation in the example above), their goals are prevention-focused such as minimizing losses and mistakes. The prevention-focused ad worked best in this situation because it played into consumer fears about those losses. Alternatively, when consumers are shopping well in advance (future winter-break vacation in the example above), their goals are promotion-focused goals such as personal growth and aspirations. The promotion-focused ad worked best in this situation because it played into those consumer desires and aspirations.
According to Jennifer Aaker, an expert in this area: [It’s] about how people are motivated by hope and optimism on one hand and by fear on the other.
For holiday marketers, the results seem clear: Utilize positive (promotion-focused) messages early on and negative (prevention-focused) messages close to the holiday. Last-minute shoppers beware!
Answer these questions:
1. Why is it that fear-based appeals are not always the most effective?
2. Do you see any ethical issues associated with applying knowledge of decision timing to decisions about promotional themes? Explain.
Fear-based appeals are not always the most effective because consumer response depends on the timing of their purchase decision and their underlying goals and motivations.
Fear-based appeals may not always be the most effective because consumer response depends on various factors, including the timing of their purchase decision and their underlying goals and motivations. In the case of last-minute shoppers, who are focused on preventing losses or mistakes, fear-based appeals can be more persuasive as they tap into consumer concerns and prompt them to take action. However, for consumers planning well in advance, their goals may be more promotion-focused, centered around personal growth and aspirations. In such cases, positive and optimistic messages tend to resonate better.
Regarding the ethical implications, applying knowledge of decision timing to promotional themes raises concerns about manipulating consumer emotions. By strategically using fear-based appeals close to holidays or last-minute shopping periods, marketers may exploit consumer vulnerabilities and induce impulsive or unnecessary purchases. It is essential to consider the ethical implications of creating advertisements that leverage consumer fears or aspirations and ensure that the messaging aligns with the genuine value and benefits of the product or service being promoted. Transparency, honesty, and responsible marketing practices are crucial to maintaining trust and fostering long-term relationships with consumers.
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a(n) approach to staffing in multinational companies has the following advantages: (1) encourages mobility within the company, (2) helps build a strong, unified culture in the company.
The global staffing approach in multinational companies encourages employee mobility and fosters a strong, unified culture. This approach allows employees to gain diverse experiences.
The approach to staffing in multinational companies that has the mentioned advantages is the "global staffing" approach. This approach involves selecting and placing employees from various countries in key positions across different locations within the company's global operations.
By encouraging mobility within the company, employees gain exposure to different cultures, work environments, and business practices, enhancing their skills and knowledge.
Additionally, the global staffing approach helps build a strong, unified culture by fostering a sense of shared values, goals, and experiences among employees from different countries, leading to better collaboration and cohesion within the organization.
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--The given question is incomplete, the complete question is given below " which a(n) approach to staffing in multinational companies has the following advantages (1) encourages mobility within the company, (2) helps build a strong, unified culture in the company ? "--
To determine the level of sales required to achieve a target profit
Group of answer choices
add target profit to the break-even level of sales.
add target profit to budgeted sales.
subtract target profit from fixed costs and divide that difference by sales.
add target profit to fixed costs and divide that sum by contribution margin%.
To determine the level of sales required to achieve a target profit, the following formula can be used: To achieve the target profit, we have to add the target profit to the total fixed cost, which will give us the required sales volume.
The formula is as follows:
Sales to achieve a target profit = Fixed cost + Target profit/Contribution margin ratio
The fixed cost is the total expense incurred by the organization, which includes rent, salary, taxes, and other expenses that remain constant irrespective of the company's output. The contribution margin ratio is calculated by dividing the contribution margin by the total sales revenue. It represents the portion of the revenue that is available to cover fixed expenses and contribute towards profit.
For instance, if a company's fixed cost is $100,000, and its contribution margin ratio is 40%, and it has a target profit of $30,000, we can calculate the required sales volume to achieve the target profit using the following formula:
Sales to achieve the target profit = $100,000 + $30,000/0.4
Sales to achieve the target profit = $175,000
The company must generate $175,000 in sales to achieve a target profit of $30,000. Therefore, adding the target profit to fixed costs and dividing the sum by the contribution margin percentage will give us the level of sales required to achieve the target profit.
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Obtain a copy of a pro forma credit agreement from the credit provider [this copy is to be annexed to the assignment]. Students may use their own pro forma agreement or you may use the one's uploaded to Blackboard. - Familiarize yourself with Chapter 4 particularly parts A,B and C as well as Chapter 5 , parts A and B of the NCA. - Create a checklist of provisions with which the credit agreement must comply. - Evaluate the pro forma agreement and determine which of the provisions the agreement complies with. [Please note that this part must be completed in the form of a checklist]
Correct answer is Obtain a copy, Familiarize yourself, Create a checklist, and Evaluate pro forma.
To complete the task, the following steps should be followed:
1. Obtain a copy of a pro forma credit agreement from the credit provider or use the provided pro forma agreement.
2. Familiarize yourself with Chapter 4 (parts A, B, and C) and Chapter 5 (parts A and B) of the NCA.
3. Create a checklist of provisions that the credit agreement must comply with. The checklist should include all the relevant provisions from Chapter 4 and Chapter 5 of the NCA.
4. Evaluate the pro forma agreement by comparing it to the checklist of provisions. Determine which provisions the agreement complies with and record any provisions that it does not comply with.
Following these steps will ensure compliance with the NCA and facilitate the evaluation of the pro forma credit agreement.
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A highly rated corporate bond with five years left until maturity was recently quoted as selling for 107.751. The bond's par value is $1,000, and its initial required to pay for the bond? If this bond pays interest every six months, and it has been four months since interest was last paid, you would be required to pay $ (Round to the nearest cent.)
If this bond pays interest rate every six months and it has been four months since the last payment, you would be required to pay $12.67.
A highly rated corporate bond with five years left until maturity was recently quoted as selling for 107.751. The bond's par value is $1,000, and its initial required payment was $107,751.
To determine the semi-annual coupon rate, we divide the annual coupon rate by two. Since the bond pays an annual coupon rate, we have to find the semi-annual coupon rate. Let's calculate it:
Semi-annual coupon rate = (Annual coupon rate / 2) / 100 = (7.6 / 2) / 100 = 0.038
Therefore, the semi-annual coupon rate is 3.8%.
Next, we need to calculate the interest due on the bond. The bond pays interest every six months, and it has been four months since the last interest payment. So, only two months' worth of interest is due.
To calculate the interest due, we can use the following formula:
Interest = (Semi-annual coupon rate) × (Par value of the bond)
Interest = 0.038 × $1,000 = $38
Since only two months of interest are due, we need to calculate the interest for those two months. Using the following formula:
Interest due = (Interest / 6) × (Number of months since the last payment)
Interest due = ($38 / 6) × 2 = $12.67
Therefore, if this bond pays interest every six months and it has been four months since the last payment, you would be required to pay $12.67.
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1. Detail the steps in the budgeting process and who within the healthcare organization is responsible for each of those steps.
2. As a healthcare finance professional, how would you communicate the relevant budget deliverables to others throughout the organization?
3. As an organizational leader/manager, how would you operationalize strategy? How would you transform the organization's strategic plan, mission, vision and values into daily activities and the operating budget?
1. Detail the steps in the budgeting process and who within the healthcare organization is responsible for each of those steps: Budgeting is an essential part of healthcare organization, and it helps to plan the financial resources and allocate those resources effectively.
The budgeting process usually starts with gathering data, forecasting revenue, and then allocating resources effectively to support the goals and objectives of the organization. The steps of the budgeting process are described below:1. Gathering data: Gathering data is the first step in the budgeting process. This includes collecting financial data, analyzing the previous year's budget, and identifying significant trends.
The finance team is responsible for gathering data.2. Forecasting Revenue: The next step is forecasting revenue, which involves estimating the amount of revenue the healthcare organization will generate in the future. The finance team and revenue cycle department are responsible for forecasting revenue.3. Identifying Cost: After revenue forecasting, the next step is identifying the cost that is associated with operating the healthcare organization. The department heads and management are responsible for identifying costs.
4. Develop the Budget: Based on revenue forecasting and cost identification, the next step is developing the budget. The finance team and department heads are responsible for developing the budget.5. Review and Approval: Once the budget is developed, the next step is reviewing and approving the budget. The budget review and approval process usually involve the finance committee, the board of directors, and the management team.2.
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