...The goal of this graded project is to create the following financial statements for J & L Accounting, Inc.: ■ Balance sheet ■ Income statement ■ Statement of retained earnings ■ Post-closing trial balance The financial statements must be created in one Microsoft Word document (.doc or .docx file). Alternatively, an Excel workbook may be used (.xls or .xlsx file). The Word or Excel file will be uploaded for grading. INSTRUCTIONS Read the following instructions thoroughly before beginning your work. This will help you to become familiar with what is involved in the project. Some students start on the project right away, thinking they’ll save time. Those students tend to get stuck and spend more time working through the project than is necessary. The material you need to know in order to complete the project has been covered in the textbook and the assigned exercises and problems. If you understand the chapters and completed the assigned homework problems, you should have no problem with the project. The project is to be done by hand with a pencil and paper. Use the blank forms provided. At the end of the project, you’ll be given instructions for creating and uploading the financial statements in a Word or Excel file for grading. 27 Graded Project Graded Project Note: The formatting of financial statements is important. They follow Generally Accepted Accounting Principles (GAAP), which creates a uniformity of financial statements for analyz- ing. This allows for an easier...
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...Business Law - You Decide Case Resolved Question: Coleman works for Software Inc., a Delaware based corporation that sells security equipment to business and bars. Coleman’s duties include traveling to prospective clients and meeting with representatives of the businesses in his sales division. Coleman is on the road more than half the year. He often does not come home for more than a few days at a time. Over the course of his 17 years of employment with Software Inc., Coleman has had several stretches on the road that last three months or more. During a sales trip to Small-town, Colorado in March 2008, Coleman found it necessary to wash his laundry. He also wanted to buy an anniversary present for his wife. Coleman went to the mall to buy the present. While at the mall, Coleman saw a ring that he really liked but could not afford. He decided to steal it. He then went to Jimmy’s Poor-Man’s Bar to meet with a client, John. Jimmy’s wasn’t a client of Coleman’s, but John didn’t like his customers to see him “doing business.” Coleman was talking with Jimmy about business when he spilled his drink all over the bar. That made him think about this cool trick where you put pure grain alcohol in your mouth, blow it out and light it. Coleman took a big drink, took out his lighter, and said, “What this!” He lit his lighter, blew the liquid and a fireball went through the room. The fireball hit Jimmy and killed him instantly. The bar also sustained a lot of damage. Software...
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...Sarah Glaudel You Decide Assignment Business Law Factual Summary: In this case, Coleman works for Software Inc., in which his duties include traveling to prospective clients and meeting with representatives of the businesses in his particular sales division. During a trip to Colorado in March 2008, Coleman stole a ring that he could not afford as an anniversary gift to his wife. After the theft, Coleman met with his client John at Jimmy’s Poor-Man’s Bar where, through a series of events, Coleman killed Jimmy with an alcohol fireball and caused sustainable damage to the bar. Because of these actions, Software Inc. fired Coleman without the required interview as stated in the employee handbook. A week later, Coleman took John out to dinner to make amends where he proceeded to punch John in the eye, causing severe physical damage. Issue(s): Because of the actions carried out by Coleman, Jimmy’s mother, John, and Jimmy’s Poor-Man’s Bar sued Software Inc. for the damage caused by Coleman. In addition, Coleman sued Software Inc. for wrongful termination and the jewelry store sued Software Inc. for the value of the ring that was stolen by Coleman. In order to determine which of these suits are lawful, we need to discuss the following legal concepts: when is an employer liable for the actions of an employee and when/how is an employer able to terminate an employee? Legal Concepts: To begin, we will discuss the legal concepts surrounding an employer-employee relationship...
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...Business Law- In this unit you, Click Link Below To Buy: http://hwcampus.com/shop/business-law-in-this-unit-you/ In this unit you, you will select a case law pertaining to the topic of business entities. Each case law analysis allows you to express yourself as clearly and fully as possible in dissecting a court decision. The purpose of the assignment is two-fold: 1. To give you the opportunity to read a real court decision. 2. To challenge you to think about how you would have decided the case. In your case law analyses, you must be able to navigate the court's decision and summarize it; you are not expected to act as a judge or an advocate. Using your selected court decision, prepare an analysis that responds to the following: 1. Articulates the importance, context, purpose, and relevance of law in a business environment: • Identify the parties who are before the court. • Provide a brief background to problem. Summarize the facts in no more than 2–3 paragraphs. • Identify what is the specific disagreement between the parties. • Explain the ruling of the court in no more than 1–2 paragraphs. 2. Evaluate legal options to create a business entity. • Was there a dissenting opinion? If so, explain why some of the judges or justices disagreed with the majority in the decision. • Compare to other types of business entities-would the party have been in a better position if they formed as a different type of legal business entity? • Do you agree with the...
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...Business Law- In this unit you, Click Link Below To Buy: http://hwcampus.com/shop/business-law-in-this-unit-you/ In this unit you, you will select a case law pertaining to the topic of business entities. Each case law analysis allows you to express yourself as clearly and fully as possible in dissecting a court decision. The purpose of the assignment is two-fold: 1. To give you the opportunity to read a real court decision. 2. To challenge you to think about how you would have decided the case. In your case law analyses, you must be able to navigate the court's decision and summarize it; you are not expected to act as a judge or an advocate. Using your selected court decision, prepare an analysis that responds to the following: 1. Articulates the importance, context, purpose, and relevance of law in a business environment: • Identify the parties who are before the court. • Provide a brief background to problem. Summarize the facts in no more than 2–3 paragraphs. • Identify what is the specific disagreement between the parties. • Explain the ruling of the court in no more than 1–2 paragraphs. 2. Evaluate legal options to create a business entity. • Was there a dissenting opinion? If so, explain why some of the judges or justices disagreed with the majority in the decision. • Compare to other types of business entities-would the party have been in a better position if they formed as a different type of legal business entity? • Do you agree with the...
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...Mr. President: Mr. Burke discussed the issue of fiscal policy and monetary policy, he suggested to “lower interest rates further”, honestly, lowering interest rates does not seem to be a horrible idea. Fiscal policy can be used to regulate the recession and further prevent us from another depression. It involves adjusting some of the government spending. On the other hand monetary policy controls the money supply. The government finances its deficit by issuing Treasury bonds controlled by monetary policy. Mr. Burke’s point from a traditional view of lowering interest rates that would increase consumption and reduce the national savings. Something that I do not agree with is the opinion of Kathy Lee. Lowering government spending makes sense, but increasing taxes on the consumers seems to be a huge mistake in my opinion. I believe that they should be left alone and possibly even allow for more tax cuts. I believe this because things are already extremely difficult financially for the majority of Americans, and increasing taxes would lead to more tax avoidance and evasion, which will only dig us deeper in a hole, as consumers have even less incentives to work towards recovery financially. Consumer confidence is vital to the beginning steps for a nation to recover from recession. Regarding the raising of bank’s reserve requirements as is the partial advice of Patricia Lopez and Allison Tanney, I do not believe this should be done. The reason for this is that I feel...
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...A key to being successful in business internationally is to understand the role of culture in international business. Whatever sector you are operating in, cultural differences will have a direct impact on your profitability. Improving your level of knowledge of international cultural difference in business can aid in building international competencies as well as enabling you to gain a competitive advantage. However, on the one hand where it is important to be aware of cultural differences of different countries, on the other, it is also hard to be aware of every single aspect of each country’s organisational culture. Therefore, you should be aware of the key factors that have a direct impact on business. These are: Communication is the key to success for any business, whether you are operating nationally or internationally, but when operating internationally it becomes even more important due to language barriers. Passport to Trade 2.0 project aims to remove this barrier by providing training materials in the languages of the country you are operating. Being aware of basic customer needs is an important aspect as this will give the advantage of conveying your message. In simple terms, if you are aware of the customer’s cultural background, then you will be able to adopt better and more suitable advertising methods. Body language is another key factor in cultural difference. As different countries have different ways to convey or share their message, for instance in Germany...
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...student Week 2 - you decide Business 427 professor September 22, 2009 Q1: Do you think REESE Inc., adhered to a set of Business Ethics? If so, what were they? If not, what would you recommend as a set of business ethics for them? I think REESE Inc. did what it was set up to do. Appear as a separate entity in order to secure contracts. These types of things happen all the time. The Planet Hollywood restaurants were all set up under different corps. When one went bankrupted, the others were untouchable. Any company that is going to do business with another is responsible for doing the proper due diligence on the people and company your going into business with. Any back ground check on the people running the company would have shown that they work for and with one another. Q2: Discuss the ethical issues involved in this case. Discuss how you might develop a plan for addressing the ethical issues involved in this case? You keep mentioning the ethics in this case, but REESE Inc. did nothing wrong. Most people might not agree with the approach or with what REESE did, but that’s business. If I were Monica Ponce, I would have signed a non-circumventing contract with REESE Inc. in order to protect my contacts as well as a contract to do business together before introducing any of my contacts or being part of any meeting that might bring future business with REESE Inc. Q3: How do you think the President of CNS should have addressed this directive from the CEO of REESE...
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...Chapter 1 – What Would You Do? Business Ethics (section 01) 1. What are the ethical issues? There are several ethical issues involved in this scenario. The first is the confidential information that Ralph had a test to determine if he carried the gene for alcoholism. This report is marked confidential and should not be shared with others, whether it is inside the company and definitely should not be shared outside the company. The second ethical issue is pursuing Ralph to take a blood test to test for this genetic issue. Since company policy states that an employee would be ineligible for coverage of a medical condition if diagnosed prior to employment, Jane shouldn’t worry about it. Ralph was not diagnosed prior to employment with COBA. The next ethical issue is Ralph’s acknowledgement of having the test and the results. When he spoke to Jane, he stated, “just between you and me.” In order for Jane to be ethical, she should not repeat what Ralph told her in confidence since he acknowledges the problem and is trying to fix it. When Jane spoke to Chuck, she let him know that she was worried about Ralph’s quota for the next quarter. I think she already expressed concern and it would be best to sit back and see what Ralph’s performance is for the upcoming quarter before addressing the situation. Jane should address the situation with Ralph first and if unable to come to a resolution, she should pursue it further with Chuck. Jane has to be ethical to the COBA...
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...delegating to the right person. He was able to understand people on a fundamental level and get the best out of each person by innately knowing their strengths and using them. He would challenge people to think creatively to solve logistical issues, such as avoiding an 11 hour flight and arriving at 7am to start touring with a 7 hour time difference by using charter flights and having changes in European cities and offering a mini tours. He contracted with guides all over Europe to combine services into smooth pick up tour and drop off. In his capacity as a boss he was demanding and exacting, pushing the limits of a person’s creativity and knowledge until you have produced and itinerary or discovered some heretofore unknown hotel with vacancies that you never knew you had in you. At the end of a meeting you would walk away proud of what you accomplished sometimes not...
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...If you’ve been trying to understand how do you value a website or internet business you’ve come to the right place. Accurately valuing a website for sale can for many be the most challenging part of the purchase process. The removal of physical assets with internet businesses can sometimes complicate valuations further but if you’re clear on the pros and cons of the methods available, gather the right data on the relevant valuation drivers and apply this correctly, you will almost always arrive at a website valuation that makes sense. At FE International (FEI) we value and broker the sale of internet businesses with a wide range of monetisation strategies (e.g. SaaS, AdSense, Subscription) across almost every niche. We’ve sold businesses with earnings multiples ranging from 1.5x up to >6x (more on that later) and seen more than a few interesting valuations devised by buyers! From experience of 300+ transactions we’ve pulled together some of the best practices from our most experienced investors and snippets of knowledge from our own acquisitions to provide some guidance for new and seasoned buyers alike to answer how do you value a website or internet business. Stepping back and reflecting on the issue, the main challenges to deriving fair business valuations seem to be 1) misunderstanding or bad use of valuation techniques, 2) gathering or using the wrong information for inclusion in the analysis and 3) oversight of extraneous factors or ‘the bigger picture’ as it were...
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...Prepared for: Dr. Diane McCann Prepared by: Arqum Usmani E- Commerce for Small Business Prepared for: Dr. Diane McCann Prepared by: Arqum Usmani E- Commerce for Small Business You decide Week 5 You decide Week 5 It’s a great joy to know that my ideas contributed to the ongoing growth and success of this company. I was confident that we would be successful as a company, we had a great idea and product thanks to Catherine and Max also to help make this idea successful. Now that we have become successful it’s time for us to sustain and also take this success to the next level. I’m excited that you guys offered to use an e-CRM system as our next step to building. It’s a great idea and I’m definitely on board to get this started but the question now is what system is best for us? First I want to talk about the advantages that an e-CRM system has to offer and how it will benefit us. The e- CRM system is a management system for electronic customer relationships which I predicted last time would become a huge success and also something to watch out for. I advised that our relationship with the customer should always be good and always make the customer satisfied. The e-CRM will definitely help us with this process by making it more efficient to deal with our customers. We are a company that offers high quality portraits and with it comes our exceptional service to the customer and our company Town Photography will benefit from an e-CRM system to keep our exceptional customer...
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...The deep recession, in this example, doesn’t deviate far from our current economic situation we are experiencing as a nation today. With prices falling and unemployment rising, a combination of both monetary and fiscal policy will be needed in order to bring the nation out of this severe recession. Due to falling prices, with the inflationary rate at -2.4%, it is evident that both businesses and individuals are not spending and overall aggregate demand (AD) is falling. The Economic Consultant to the President, Mr. Raymond Burke, has recommended that the President lower interest rates to further help businesses and consumers “get back on their feet.” I agree with lowering interest rates as Raymond Burke said because lowering interest rates should encourage consumption and investment. However, there are some inaccuracies in what Mr. Burke is recommending. The President has neither the ability nor the authority to make adjustments to interest rates. The Federal Reserve (the Fed) is responsible for the discount rate and for setting the reserve requirements. I do not agree with raising taxes as Kathy Lee states because that would mean less money would go to the economy, and as result there would be an increase in prices and/or job cuts. I also do not agree with reducing government spending as Kathy Lee said because this would exacerbate the situation with more contraction in the gross domestic product (GDP). I do not agree with Ms. Patricia Lopez’s, Consultant to the Federal Reserve...
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...innovation to maintain leadership position in the technology industry. Apple's innovative strategy is simply breathe taking. You can never predict what they’ve got up their sleeves. They are always coming out every now and then with one innovative product or the other. They’ve caused several frenzies in the marketplace with products such as iMac, GMac, IPod and IPad. "To turn really interesting ideas and fledging ideas into a company that can continue to innovate for years, it requires a lot of disciplines." – Steve Jobs "In three years, every product my company makes will be obsolete. The only question is whether we will make them obsolete or somebody else will." – Bill Gates Apple’s innovative style has made them consistently rank top ten in the Fast Company's list of innovative companies. I try to model Apple in my own little way byconstantly improving on businesses. I constantly seek innovative ways to increase customer’s loyalty and profit. If you want to make innovation one of your company’s core values, then Apple is one of the successful business strategy models you can emulate. "Pretty much, Apple and Dell are the only ones in this industry making money. They make it by being Wal-Mart, we make it by innovation." – Steve Jobs 2. Virgin Group: Strong Competitive Strategy "A business has to be involving, it has to be fun and it has to exercise your creative instincts." – Richard Branson I respect...
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...Obesity has become an increasing issue in this day in age. Radley Balko, a policy analyst with the Cato Institute, talks to this issue in his article “What You Eat Is Your Business.” He gives readers two sides; individual health and public health. Balko gives his readers an understanding of both sides and gives us an idea of what he believes is right and what he believes is wrong. He examines what it means when the public is in charge of your health and then he goes and shows you how it should be. He creates a tong argument for people being in charge of their own health. He shows a strong opinion on what should be public and what should stay private. He makes people rethink obesity and how we should go about fixing it. Balko is very informative...
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