...Southwest Airlines Corporation Question 1 : What is Southwest’s strategy? What is the basis on which Southwest builds its competitive advantage? One of the goals of the company is to achieve its goals which can be seen through the Vision. Southwest’s Vision “ To become the World’s Most Loved, Most Flown, and Most Profitable Airline” can be achieved by planning good strategy. Strategy is also needed in order to achieve Southwest’s goals and purpose, which is “To connect People to what’s important in their lives through friendly, reliable, and low-cost air travel”. The main strategy of Southwest is the capability of the company to manage and take advantage of its competitive advantage. Major competitive advantage of Southwest Corporation is its people, just like current CEO Gary Kelly said on company’s official website : “Our people are our single greatest strength and most enduring long-term competitive advantage”. Additionally, Southwestt keep developing its sustainable competitive advantage by using Generic Competitive Advantage. It was the advanced of Michael Porter’s Five Force Analysis Model consist of Low Cost or Differentiation. a) The Low Cost Strategy or Cost Leadership Southwest used tight cost control and cost minimization by keeping their cost of goods sold low but not as an exchange of satisfaction of the customer. They maintained low cost operation by doing several following things in the right way, effectively and efficiently: ...
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...------------------------------------------------- PREPARING A CASE BRIEF FOR CASE 3.1 ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- Lindgren v GDT, LLC ------------------------------------------------- 312 F.Supp.2d 1125 (S.D. Iowa 2004) ------------------------------------------------- Jangling Jewels on the Internet: Can the Court Loop Them In? ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- GM520: Legal, Political, and Ethical Dimensions ------------------------------------------------- CASE BRIEF: CASE 3.1 Case Name: Lindgren v GDT, LLC Case Citation: Lindgren v GDT, LLC312 F.Supp.2d 1125 (S.D. Iowa 2004) Procedural History: Ms. Lindgren filed suit in federal district court in Iowa against GDT for infringement. Ms. Lindgren says that GDT has a Web site and is selling its jewels to residents in Iowa and must come to Iowa to defend a suit because it is doing business there. GDT filed a motion to dismiss the case for lack of in personam jurisdiction...
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...Case 3.1 1. Brent has many alternatives. The first alternative Brent has is to eat the time. The pro of eating time is that he gets the work done and helps his team out without any problems. The con of eating time is that he cannot spend time with his wife. Also, this could lead to the firm and company believing that the time granted for the audit is acceptable and put pressure on future staff auditors. A second option Brent has is to quit the firm. The pro of this would be that Brent could not have to deal with the long hours and spend more time with his wife. The con of this decision is that it does not look good to quit a job very early and he would have to find a different job to provide income for his family. A third option would be for Brent to not take as many invoices when performing the audit. The pro of this choice is that Brent would finish the audit on time and the con is that this leaves rooms for mistakes which could be very costly. The final option Brent has is to speak with the manager about the time allotted to the audit. The pro of this choice is that maybe the manager will understand and grant Brent more time. The con to this choice is that Brent is new to the job and should be willing to do what he needs to do to help the team out. 2. If Brent decides to “eat time” there would be many consequences for him and the firm. Brent would have to buckle up and forget about spending time with his wife over the weekend and risk her being very upset. Also...
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...Case 3.1 Jessica Kelley-Seamans Acc-412 1- Identify the key objectives for a client’s payroll function. Comment on objectives related to tests of controls and substantive audit procedures. The payroll functions include * employment ( HR) * timekeeping * payroll preparation and recordkeeping * Pay distribution (Whitman, pg 626) Each of these payroll actions should be kept separate from one another, in accordance with proper segregation of duties. Segregation of duties can be described as the separation of related procedures that will prevent employees and officers from committing fraud. The duties that should be kept separate are authorization, record keeping, and custody. According to the AICPA,” no single individual should be able to (1) authorize a transaction, (2) record the transaction in the accounting records, and (3) maintain custody of the assets resulting from the transaction”( Members in Government Guide to Internal control, pg 10). The key objectives for a client’s payroll function are * Occurrence and existence * Accuracy * Completeness * Presentation and disclosures (Key Audit Objectives for a Client's Payroll Function). I will now go over each objective, and discuss the related tests of controls and substantive audit procedures. Just too quickly review, tests of controls focus on the functionality of the controls themselves, and substantive procedures focus on direct verification of the output of the controls...
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...Case 3.1 The Trolley Dodgers 1. The key audit objectives for a clients payroll function are a. Occurrence and existence, b. Completeness, c. Accuracy, d. Posting & summarization, e. Presentation and disclosure, f. Timing and classification. The objective of completeness requires checking all of the amounts paid to the employees to see if they are correct and paid in full. Auditors should level the control risk on all payroll transaction cycle, which is auditor’s major objective on performing tests of controls. In order to determine the nature, extent, and timing of the year-end substantive tests, auditors need to assess control risk for a transaction cycle to get strong evidences. A payroll transaction cycle has two key accounts, which are accrued payroll and payroll expenses. Auditors mainly are concerned of these two accounts violating the completeness objective for most expense and liability accounts. Auditors should use comprehensive analytical procedures when assessing periodic payroll expense to check its rationality. After checking the payroll expense and considering it with the recent average employee pay raise, auditors will develop an expectation. If the payroll expense provided by the clients is out of the auditors expectation, then, substantive procedures and are tests needed to further check those differences. 2. There are several internal control weaknesses in the Dodgers payroll system: g...
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...Big Brother Case 3.1 Business Ethics and Social Repsonsibility OMM640 November 17, 2012 Big Brother Case 3.1 Has there ever been a time when you were so ecstatic about your new job opportunity that you just simply signed your life away? How many times has a individual actually carefully read each word in each sentence of every paragraph on the countless pages before signing on the dotted line or initially on the page and signing on the very last page. Many employees may lightly read the material read the bold point or like me read over quickly and try to see if there is any fine print that will draw my attention. In any case the information on the page is what the company offers and what it expects from their employees. Some documentation may state that you are revoking your rights to work for any competing companies or that you have to adhere to the confidentiality of the organization under any circumstance permitted by law. It is not an abuse of power when one signs that they will be in compliance with the rules and regulations of the company in whom they are employed by. Yet is an abuse of power when they perform analytical searches into phone records of each resident in the 513 and 606 area codes as well as the phone records of 803, 849 homes (Boatright, 2009, p. 61). This is were P&G fell off and became erroneous. Verifying phone records of P&G employees would have been rationalized if and only if the company stayed within their limits. P&G...
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...CASE 3.1 A SCANDINAVIAN SCARE Discussion Questions 1. Why did Conquip send an RFQ with a 10 percent price-reduction requirement rather than calling de Winter in for negotiation? Is there any downside to having run the negotiation this way? Conquip was trying to give a time pressure to FD. This can be seen when Conquip sent the RFP (Request for Quote) to FD regarding the product, LEIF filter, which still not even widely adopted by Conquip. This particular pressure functions as an external constraint to FD. Conceptually, the constraint removes what could be the most attractive of options for FD to continue to negotiate in an effort to improve the terms of the agreement. Lacking this option leads FD to face with a twofold choice which they can either agree or refuse the agreement requested by Conquip. This could appear like a great strategy until Conquip realise that there's no difference between that and FD might also putting on time pressure to them. There could be a situation in which both sides are approaching the same time deadline. And in this particular case, the one that has the greatest power is the one with more alternatives who could use time pressure, but the side with fewer alternatives has the least power should avoid time pressure and negotiate well before the deadline. 2. At the first negotiation meeting, Conquip made a threat disguised within an offer. The offer was to retain FD as a companywide, primary supplier if FD could meet its price demands. ...
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...determine ETD in presence of impurities (1-methyl and 8-methl-ETD) and in pharmaceutical formulation. A viospher ODS-2(15 cm x4.6 mm, 5µm particle size) HPLC column was used as stationary phase and acetonitrile / 0.05 M phosphate buffer (pH 4.7) 60:40 v/v) eluted at 0.8mL/min was used as mobile phase. Detection was achieved by measurement of the UV absorbance at 229nm. The method was found to be linear over the concentration range of 1-20µg/ml. the relative retention time for ETD and acetaminophen were 2.2and 2.9 min respectively. The retention times for the two impurities, 1-methi-ETD and 8-methyl-ETD, were 1.4 and 3.8 min respectively. 3.3 MARKETED PREPARATION OF ETODOLAC The various marketed preparation of etodolac are reported in Table 3.1 Table 3.1 Marketed preparation of Etodolac BRAND NAME DOSAGE FORM COMPOSITION MANUFACTUERS Etomax Film Coated Tablet Etomax (400mg) IPCA (Intima) Etomax-p (400mg/500mg) Film coated Tablet Etodolac 400mg + paracetamal 500mg IPCA (Intima) Etios Tablet Etios (400mg) Forgo Etios-p (400mg/500mg) Tablet Etodolac 400mg + paracetamal 500mg Forgo Etofree (400mg) Tablet Etfree (400mg) Lupin laboratories Ltd Etobest Tablet Etobest (400mg) Intra (Intra life ) Etobest-p (400mg/325mg) Tablet Etodolac 400mg + paracetamal 325mg Intra (Intra life ) Etova-p (400mg/325mg) Tablet Etodolac 400mg + paracetamal 325mg IPCA (IPM) Penalgon-MR (400mg/8mg) Film Coated Tablet Etodlac 400mg + thiocolchicoside 8mg Emenox Penalgon-p (400mg/325mg) Film Coated...
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...Questions 1. Identify the key audit objectives for a client’s payroll function. Comment on objectives related to tests of controls and substantive audit procedures. The key audit objectives for a client’s payroll function is to test management’s assertions about timekeeping, paycheck processing, record keeping, employee benefits and pay distribution. The assertions about payroll that would be tested here are occurrence, existence, completeness, authorization, and accuracy. The objective of testing controls is to make sure that the company’s controls sufficiently address the risks of misstatement that could occur. The objective of substantive audit procedures is to detect material misstatements in a transaction class, account balance, or disclosure component of the financial statements. (Messier 2014) (Messier, William. Auditing and Assurance Services. McGraw Hill, New York, NY. 2012. Print.) 2. What internal control weaknesses were evident in the Dodgers’ payroll system? Control Weaknesses * No separation of duties such as the person writing the checks and the person keeping the books – Campos kept the books and wrote the checks * Control environment and tone at the top was inadequate – collusion among employees helped Campos succeed in his scheme. * Inadequate documentation of the components of internal control – it was a system only he fully understood. 3. Identify audit procedures that might have led to the discovery of the fraudulent scheme masterminded...
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...Deana Chamberlain Case 1 ACC 416 Seminar Two Case 3.1 1. What alternatives are available to Brent in regards to the audit of payables? What are the pros and cons of each alternative? Brent and Han could pull twenty invoices rather than thirty invoices and go against the audit plan. Since the account payables haven’t shown any problems in the last few years, chances are there won’t be any problems this year. Doing this they could save at least a third of the time and possibly meet the deadline. The problem with doing this is that it goes against the audit plan and potential be an issue if there did end up being a problem this year. They could just do the audit of the account payables and say that it only took the 35 hours regardless of the amount of time it really takes. Doing this would bring the audit in under budget and John would be happy with this and it would look good on the upcoming performance evaluations. This would be helpful in their promotions to senior auditors. The problem with this if they accomplish the audit in this time frame they will be expected to do it again next year. 2. What consequences for Brent, the auditing firm, and others involved, may arise from “eating time” as Han suggested? Similarly, what consequences for Brent, the auditing firm, and others involved, may arise from not completing audit procedures, as Megan suggested? As mentioned above, “eating time” may look good now, but in the future they will be...
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...1. What alternatives are available to Brent in regards to the audit of payables? What are the pros and cons of each alternative? Brent has the option of “eating time” as Han has suggested. This means working off the clock but he will be able to finish under budget and look good at the firm. However, this will have an adverse effect for future budgets making it seem like the audit can be completed in less time than is even possible. Also, it fails to show the accurate cost of completing the audit. Brent also has the option of lowering the number of payables tested. If he decided to do this, Brent would be able to complete his work in less time, possible under budget and allow him to spend the rest of the time with his wife. However, skipping the testing of these other transactions can lead to a misrepresentation of the audit. Brent could also ignore Han and Megan’s advices and to the work correctly, regardless of making budget. This approach will get the job done correctly. However, doing this will result in an over budget audit report and may receive a bad evaluation from the senior auditor. Brent could also talk with John about his concerns. John may be able to provide insight into Brent’s issues and help him resolve them. However, John may see Brent as a threat to him completing the audit under budget and may give him a bad evaluation if they end up over budget. 2. What consequences for Brent, the auditing firm, the others involved, may arise from “eating time,” as Han suggested...
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...With these developments, it is obvious that conflicts between parties of different nationalities occur and liability to tax on income of foreigners especially among those engaging in trading venture. Whilst the laws affecting domicile and residence may be sufficiently settled, it is paramount for courts to pursue a detailed analysis to ascertain specific preliminary issues so as to avoid controversial rulings. Courts often handle numerous financial cases that involve what can be best described as foreign or international elements. In such cases, court must decide whether it has the jurisdiction under the Family Law Act 1975 to make a decision on such cases. In the event that it is determined that the court is invested with the jurisdiction to determine the case, the court has to consider whether there is a system of law in foreign country that also has the jurisdiction to handle the case. As it was addressed in the case Attorney General of New Zealand v Ortiz [1984] AC 1, these benefits and costs to either party if the case resolution is made in foreign country as compared with the apparent country should also be a subject of concern. [1] Legal systems in most countries around the world adopt community property regime, which takes effect at the inception of marriage or at the time of divorce. For instance, California and Massachusetts in the United States have adopted community property regimes that support equal division of assets upon divorce. However, this provision...
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...Adapted from Bernhardt & Kinnear (1988). Cases in marketing management, pp. 6-16. Plano, TX: Business Publications, Inc. Pay careful attention to the following points. They are often used by instructors to evaluate either a written or oral analysis. 1. Be complete. Each area of the situation analysis must be discussed, problems and opportunities identified, alternative presented and evaluated using the situation analysis and relevant financial analysis, and a decision must be made. An analysis that omits part of the situation analysis or only recognizes one alternative is not a good analysis. Second, each area must be covered in-depth and within insight. 2. Avoid rehashing case facts. Every case has a lot of factual information. A good analysis uses facts that are relevant to the situation at hand to make summary points of analysis. A poor analysis just restates or rehashes theses facts without making relevant summary comments. 3. Make reasonable assumptions. Every case is incomplete in terms of some piece of information that you would like to have. A good case analysis must make realistic assumptions to fill in the gaps of information in the case. For example, the case may not describe the purchase decision process for the product of interest. A poor analysis would either omit mentioning this or just state that no information is available. A good analysis would attempt to present this purchase decision process by classifying the product and drawing upon real life...
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...are given. It is understandable then that we should seek out more opportunities to apply our skills and make more positive impacts within our jurisdictions. It is this general attitude that led us to get involved in investigating cold cases. How We Got Started Mark had, for several years, been consulting with our Coroner’s Division as a forensic anthropologist. During this time he came to learn that there were numerous coroners’ cases in which the identity of the decedent was unknown. These cases were kept in three-ring binders on a shelf in the Sergeant’s office. Over the years, in the course of this forensic work, we would discuss these cases and the progress that was being made on them. The conversation usually ran along the lines of us asking “any luck with that 1980 homicide victim?” and the sergeant answering “well, we’ve gotten so many new cases that I haven’t been able to even look at it yet.” This went on for a few years and through two different sergeants. One day we, as a crime analysis unit, were brainstorming about how we could broaden our “client base”, as it were. We had been successful in integrating ourselves into our Investigations Bureau and had been involved in numerous major cases. And, of course, we had always been active in producing tactical and strategic analyses for our patrol personnel. But we knew that we could be doing more, particularly given the size and responsibilities of our agency. It was during...
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...BUSINESS CASE Presented to the Accountancy Department De La Salle University In partial fulfillment Of the course requirements In ACCTBA2 (C33) March 2, 2015 A stakeholder is typically concerned with an organization delivering intended results and meeting its financial objectives. In general, a stakeholder can be one of two types: internal (from within an organization) or external (outside of an organization). The stakeholders in this situation are Lanie Marquez and Tim Rodriguez who are also partners in the retail distribution business and their capital contributions are as follows P500,000 and P300,000 respectively they are an internal stakeholder since they are also the owners. The total Capital of both stakeholders is P800,000 and with a monthly salary for both partners at P15,000 on the assumption that both of them will contribute to manage the business equally. Assuming that both managed the business equally the total salary for the year for Lanie and Tim are P180,000 each. They share profit and loss equally and no interest will be given on capital contributed. The problem for this situation is that Lanie is starting to get concerned with the behavior of her other partner Tim. He only manages the business 50% of the time, which will mean that his salary of P15,000 will need to decrease by also 50% since he does not manage the business equally with his partner. The business has seen a downturn in the profit outcome and for the current financial...
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