...company pay the empolyees by take care of them and their needs but since 1964 according from the observers the generation after that are not as as same as their parents because their already live richer and more modern than their parents beside that also the influence from the western ideas . the potential influence from this side is the company changed the pay scheme for the manager or the workers , before they give the bonuses base on seniority but since 2000 matsushita and company changed to see the performance method , it’s mean who give the best performance get the better and higher bonus and also the performance of the managers and the workes would be transparent by shown the ranking of the performance . at that time become the first step of revolution in human resource pratices since that time all companies use that method , the manager who gives the best performance earn more and get more bonus although they are still young . but after put that into the perfomance still many of employee under 1990 lack of experience and can’t adapt with the new system that make the perfomance become poor which cause Mathushita have to close 30 factories include 13.000 jobs and 1.000 management and sell huge amount of assets ....
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...Brief background and context: Junior salesperson ("Seth"), an assistant on the non-dollar derivative desk of FirstAmerica (“FA”), finds himself in a difficult situation and has to decide what course of action to take as relates to going along with misrepresenting material facts to a key client, Poseidon, in conjunction with their hedging of French Franks relating to the $700 million equivalent cost of the five year construction of a new cruise ship. Seth is a relatively new employee at FA and was recruited by one of his key managers, a salesperson named Linda. Linda is asking Seth to “play along” with her questionable sales tactics so as to make the trading desk at FA a huge profit and herself a very large $1 million bonus. Seth would earn a bonus of about 70% of his base salary. Seth is ethically conflicted, as he does not feel that Linda’s tactics are honest and perhaps even legal. Who are the key players involved: (i) “Seth” – the junior salesperson at FA (ii) Linda – a top salesperson on the FX desk at FA and Seth’s boss; recruited Seth in (iii) Roger – floor trader at FA (iv) Peter – Sales Manager for Derivatives at FA (v) CFO of Poseidon What are the main issues/allegations? (i) Is fraud being committed by any or all of the following: a. Sending the Telerate page that grosses up for withholding tax, but withholding tax does not apply to cross currency swaps b. Convincing the CFO of Poseidon that the deal needs to remain secret...
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...Instruments The new pay system at Alliston Instruments isn’t working because the production standards set in place for employees to earn bonuses based on individual output on some tasks are set too high and there is also no way to compare the per-hour production rate for each item or assembly operation from 2012 to the production rate of 2013 for employees to receive bonuses for each piece produced because detailed records were never kept. The new system also doesn’t favor supervisors because they make less money than some of the workers and it creates increasing conflict with employees, as they don’t care about the quality of the products the produce as long as the output meets minimum standards. The individual production bonus system could work if some changes are made to the system to make it better. One such way would be to keep detail records of the per-hour production rate for each item to be able to compare them to that of the following year so that the bonuses can be given out effectively. Another way would be to set a standard of quality that all employees can follow to make sure all items produced are done effectively and there is less waste of raw materials. The final way would be to give bonuses to the supervisors also for the amount of workers they supervise that surpasses the past years levels. I don’t believe that the individual performance pay is suitable for this company because it brings about conflict between the workers and the supervisors...
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...support high performance. As a result, Sysco compensation strategies are performance based. Driver and warehouse workers compensation at Sysco is primarily activity based. Their activity based performance is dependent upon each individual’s productivity level. The drivers for example have control over their route as if running their own business. A driver will have a number of elements that dictate the pay he or she will receive depending upon their route and pounds of products delivered to the customer. Also, as an added bonus, when a driver finishes their route early, they are free to leave for the day. This type of performance based pay extends throughout the entire company in various forms from the chairman of the company to the frontline workers. Executives and managers at Sysco receive pay based incentives in the form of bonuses and stock options. The greater their performance in regards to achieving company objectives, the greater bonus they will receive. Sysco uses a percentage program when evaluating the managers and executives for their bonuses and stock options. Having a job is always positive, but having a great paying job that actually rewards you for...
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...on improved company performance for increased productivity, increased customer satisfaction, lowers costs or better safety records” Martocchio, J. J. (2015). P86. For CircleWorks specifically, gain sharing implemented on multiple levels, beginning with teamwork bonuses. Having a strong team will not only increase productivity for CircleWorks but it will increase ideas coming from employees themselves. Since CircleWorks already has multiple teams that work well together, the teams will need to be mixed up. CircleWorks will select a few individuals from each team and integrating them with a team that may not work as well, forcing new teams to be created. Teams with the most productivity can be put into a raffle for a free group lunch or a bonus created by management. Increasing teamwork at CircleWorks will implement the leadership component of gain sharing, as teams will also be encouraged to discuss options for the company and bring them to management. Root III, Demand Media, G. N. (n.d.). The second component of gain sharing is employee involvement, which has already begun in the leadership component. In addition to creating teams and encouraging them to bring ideas to the team, team meetings will be held monthly to discuss options. “Regular staff meetings can serve to remind employees that there is more going on than their own issues and deadlines and may see opportunities for mutual support and collaboration, let alone obtain vital information from each other.” Workplaces...
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...There are bonuses that are given to those who do not win their bets, these are called cash back bonuses. The beauty of these incentives is that they take some of the sting out of a lost wager. Each sports book website will calculate the cash back bonus differently, though there is some continuity between each platform. The average percentage of cash back given on a lost wager is 20%. However, other fees and costs are deducted from the total before that percentage is figured. To earn a cash back bonus, you will need to make a new deposit. The site will subtract the current and pending balance of your account, the accumulated winnings from all previous periods, and then the redemptions for the period from your new deposit amount. The remainder...
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...Purpose: The purpose of this promotion is to drive increases in fourth quarter gaming volume and revenue. Brief Description of the Promotion: The $135,000 Holly Jolly Cash Holiday promotion is a cash and car drawing. This promotion has three (3) parts: 1. From December 15th – 17th between 3:00 p.m. and 8:00 p.m. guests playing slots will be drawn to win $500 up to $5,000. This portion of the promotion is a hot seat drawing and guests do not have to earn points to qualify (see “Internal Process Drawing a Winner | Slot Machine Hot Seats”). 2. From December 15th – 17th between 3:00 p.m. and 8:00 p.m. guests playing table games will be drawn to win $500 up to $5,000. This portion of the promotion is a random winner generator Hot Seat drawing and guests do not have to earn points to qualify (see “Internal Process Drawing a Winner | Table Games”). 3. On December 17th at 9:00 p.m. one guest will win a vehicle. This portion of the promotion is an earned entries drawing (see “Internal Process Earned Entries”). Hot Seat Drawings December 15th – December 17th • Snoqualmie Casino will host a hot seat promotion for slots and table games where players will draw an ornament from a tree to win $500 up to $5,000 (see “Prize Details” below). There will be a total of 120 winners; 40 each day. One (1) random winner will be selected at each drawing. • There is no point requirement to win this portion of the promotion. • There will be a total of 65 ornaments on the gameboard for guests to choose...
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..._____________________ Title: _____________________ Signing Bonus: _____________________ Relocation: _____________________ Stock Options: _____________________ Other Terms: _____________________________________________________ _____________________________________________________ _____________________________________________________ _____________________________________________________ Signed, __________________________ __________________________________ Joe Tech, negotiator Leigh Bultema, negotiator Job/Salary Negotiation Issues ▪ Is salary negotiable? The salary conditions were a stumbling block for this particular exercise. With the knowledge of being the manager, I knew that I had other qualified individuals that could be offered the position. The scenario explained that RR already offered a high beginning salary for a new employee. I felt that someone fresh out of college did not warrant a higher salary. In general, I do believe that salary can usually be negotiated. For the majority of jobs (not retail, fast food, etc…), employers give a range of what the salary can be. For the federal government, salaries are usually locked in but you might be able to negotiate at what level you start. ▪ What other things are negotiable? If salary is locked in, there are always other options. For the exercise, we looked at offering relocation costs, a signing bonus, stock options and even starting dates. All these things...
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...chapter 2 Property Acquisition and Cost Recovery Learning Objectives Upon completing this chapter, you should be able to: LO 2-1 Explain the concept of basis and adjusted basis and describe the cost recovery methods used under the tax law to recover the cost of personal property, real property, intangible assets, and natural resources. Determine the applicable cost recovery (depreciation) life, method, and convention for tangible personal and real property and calculate the deduction allowable under basic MACRS. Explain the additional special cost recovery rules (§179, bonus, listed property) and calculate the deduction allowable under these rules. Explain the rationale behind amortization, describe the four categories of amortizable intangible assets, and calculate amortization expense. Explain cost recovery of natural resources and the allowable depletion methods. LO 2-2 LO 2-3 LO 2-4 LO 2-5 Storyline Summary Taxpayer: Teton Mountaineering Technology, LLC (Teton)—a calendar-year single-member LLC (treated as a sole proprietorship for tax purposes) Cody, Wyoming Steve Dallimore Teton must acquire property to start manufacturing operations and wants to understand the tax consequences of property acquisitions. Location: President/ Founder: Current situation: cave waiting for the tempest to pass, Steve had an epiphany—a design for a better ice-climbing tool. Since that moment, Steve has been quietly consumed with making his dream—designing and...
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...for tax purposes. True False | 2. | Tax cost recovery methods include depreciation, amortization, and depletion. True False | 3. | If a business mistakenly claims too little depreciation, the business must only reduce the asset's basis by the depreciation actually taken rather than the amount of the allowable depreciation. True False | 4. | An asset's capitalized cost basis includes only the actual purchase price; whereas the other expenses associated with the asset are immediately expensed. True False | 5. | The basis for a personal use asset converted to business use is the lesser of the asset's cost basis or fair market value on the date of the transfer or conversion. True False | 6. | Depreciation is currently computed under the Modified Accelerated Cost Recovery System (MACRS). True False | 7. | The 200 percent or double declining balance method is allowable for five and seven year property. True False | 8. | Taxpayers may use historical data to determine the recovery period for tax depreciation. True False | 9. | Taxpayers use the half-year convention for all assets. True False | 10. | If a taxpayer places only one asset (a building) in service during the fourth quarter of the year, the mid-quarter convention must be used. True False | 11. | The MACRS depreciation tables automatically switch to the straight-line method when it exceeds the declining...
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...After reviewing the Kansas City Zephrys Baseball Club case and reading arguments from both the players and the owners I can see that both parties want the same thing and that is to have more of the cash flow on their side. The players and owners appear to agree on most of the financial statements. There are five things they don’t agree on: roster depreciation, deferred compensation, amortization of signing bonuses, non-roster salaries, and stadium operations. 1. Roster Depreciation: The owners use a 50% rate of depreciation as roster depreciation. The 50% rate is the maximum allowed by the IRS and the owners state that it is common practice in the baseball industry. This is allowing the owners to conceal as much profit as they can without any actual cash loss. The player’s argument is that as the player’s age their skills improve which is actually appreciation not depreciation. I agree with the players because a player’s skill level does typically increase with experience instead of decrease. Due to the level of the player actually appreciating instead of depreciating this should not be included in the financial statements. 2. Deferred Compensation: The majority of players only receive 80% of the amount that their signed contract states because 20% of a player’s salary is deferred for 10 years. Not all companies put this money aside since it is an expense that will not occur for 10 years. I agree with the players on this. Since this 20% is used as a pension for...
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...Income taxes and financial accounting Abstract: The paper discusses the basic elements of tax allocation, analyzes extensively the principal timing difference: accelerated depreciation for tax purposes and straight-line depreciation for published financial reporting, looks into the major aspects of SFAS No. 109, and explores the difference of GAAP and IFRS on tax allocation. 1. Income tax allocation In order to comply with IRS tax code and make sense of the tax expands for income statement analysis, income tax allocation involves with high level of complexity for financial statement. This paper tries to explain how income tax allocation works by comparing of accelerated tax depreciation versus straight-line for financial reporting. The paper will focus on the change from SFAS No. 109 from SFAS No. 96. The discounting of deferred tax liabilities is also mentioned and analyzed. Because of the timing difference between time of the tax return and the time of the publication of the financial statement, different taxable results incur from the IRS tax basis and the financial reporting basis. Although the different exist, the difference will be smooth out in the cumulated ways for years and years. Income tax expense and income tax liability are always differ from each other in figures, but with the difference deferred in next year. 1.1 History In 1967, APB Opinion No.11 replaced ARBs 43 and 44 under the requirement of comprehensive allocation. If there is any difference...
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...memo to: | Mr. & Mrs. John smith | from: | carol johnson | subject: | tax issues | date: | September 29, 2012 | | | | | Dear Mr. & Mrs. John Smith: After carefully evaluating your tax issues my staff and I have come to the following conclusions on the questions you presented us. 1. John Smith tax issues: a. How is the $300,000 treated for purposes of federal tax income? The $300,000 you earned is considered earned income; therefore, it should be reported as gross income on either a Schedule C of your individual income tax return or if you have reported your company as being a LLC, you can file a LLC return. b. How is the $25,000 treated for purposes of federal tax income? The $25,000 would not be reported as income. The reasons why are that the $25,000 should have been classified as an expense (client advance) on the balance sheet at the time your received it two years ago. It would not have been reported as a deductible expense following the matching principle. In the current year when the $25,000 is reimbursed, the revenue minus the expense equal to zero. However, if you expensed it in the year it was paid, the $25,000 would be reported as income on this year’s income tax. c. Determination regarding reducing the taxable amount of income for both (a) and (b) above? You can make use of an LLC reporting as an S Corporation where wages that are paid to the shareholder may be less than the $300,000. The regular income tax rates will apply...
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...acc 205 week 3 dq [Instructor’s Name] [Writer’s Name] [Course] [Date] Week 3 - DQs 1. LIFO vs. FIFO The controller of Sagehen Enterprises believes that the company should switch from the LIFO method to the FIFO method. The controller’s bonus is based on the next income. It is the controller’s belief that the switch in inventory methods would increase the net income of the company. What are the differences between the LIFO and FIFO methods? Guided Response: Analyze several of your peers’ posts. Let at least two of your peers know if a company is better off it switches from a LIFO method to a FIFO method? Explain your reasoning. The Differences between the LIFO and FIFO Methods To account for the value of inventory once it is sold, the two common inventory valuations used by companies are LIFO and FIFO. In periods of rising prices (inflation), in LIFO method, there are higher COGS and lower value of inventory and in FIFO method, there is lower COGS and higher value of inventory (Beechy & Et.al, 2011). In periods of falling prices (Deflation), in LIFO method, there are lower COGS and higher value of inventory and in FIFO methods, there is higher COGS and lower value of inventory. The way in which the COGS are calculated is the main difference between these methods of inventory. Consider the purchase of butter at your local grocery store to understand the FIFO inventory method. You are not buying the most recent butter...
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...ACC201e Financial Accounting Assignment 2 – Group-Based Assignment January 2011 Presentation ACC201e Assignment 2 Group-Based Assignment This assignment is worth 30% of the final mark for ACC201e Financial Accounting. The cut-off date for this assignment is 24 February 2011, 2359hrs. This is a group-based assignment. You should form a group of 3 members from your seminar group. Each group is required to upload a single report to MyUniSIM via your respective seminar group. Please elect a group leader. The responsibility of the group leader is to upload the report on behalf of the group. It is important for each group member to contribute substantially to the final submitted work. All group members are equally responsible for the entire submitted assignment. If you feel that the work distribution is inequitable to either yourself or your group mates, please highlight this to your instructor as soon as possible. Your instructor will then investigate and decide on any action that needs to be taken. It is not necessary for all group members to be awarded the same mark. ____________________________________________________________ _______________ CASE Good Food Company is a local manufacturer of instant noodles. Established in 2005, their business has been growing steadily. Their products, which are available in 3 flavors, are sold in Singapore under the “Good Food” brand. However, since the start of 2010, their sales began to slow down. One key reason is the entry of new...
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