...5.3 The North Face, Inc. 1. Auditors should not insist that clients accept all proposed audit adjustments even those that have immaterial effect on the financial statements. The auditor can give their clients suggestions on where to make adjustments. If the client insists that doesn’t want to make any changes, then the auditor should exercise professional skepticism, when considering the possibility that a material misstatement due to fraud could be present (AU Section 316). 2. The auditor should design and perform audit procedures in a manner that addresses the assessed risks of material misstatement for each relevant assertion of each significant account and disclosure. In our case, auditors should not be aware of the materiality threshold. Also, the auditor should not reveal the materiality levels to their clients. For the second part of the question, it is not feasible as this information cannot be held away from the clients. Deloitte might have increased the substantive testing given Crawford’s barter transactions. 3. The FASB Concepts Statement No. 5 “Recognition Measurement in Financial Statements of Business Enterprises” and SFAS No. 48 “Revenue Recognition When Right of Return Exists” are guidelines that dictate when companies are entitled to record revenue. The two customers did not pay for the merchandise as they were made to sign for the merchandise they did not have, which means there was no exchange. Also, the transaction was not finalized until the...
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...CONTEMPORARY AUDITING REAL ISSUES & CASES MICHAEL C. KNAPP SEVENTH EDITION MAKE IT YOURS! SELECT JUST THE CASES YOU NEED Through Cengage Learning’s Make It Yours, you can — simply, quickly, and affordably — create a quality auditing text that is tailored to your course. • Pick your coverage and only pay for the cases you use. • Add cases from a prior edition of Knapp’s Contemporary Auditing. • Add your course materials and assignments. • Pick your own unique cover design. We recognize that not every program covers the same cases and topics in your auditing course. Chris Knapp wrote his case book for people to use either as a core e book or as a supplement to an existing book. If you would like to use a custom auditing case book or supplement the South-Western accounting book you are currently using, simply check the cases you want to include, indicate if there are other course materials you would like to add, and click submit. A Cengage Learning representative will contact you to review and confirm your order. G E T S T A R T E D Visit www.custom.cengage.com/makeityours/knapp7e to make your selections and provide details on anything else you would like to include. Prefer to use pen and paper? No problem. Fill out questions 1-4 and fax this form to 1.800.270.3310. A Custom Solutions editor will contact you within 2-3 business days to discuss the options you have selected. 1. Which of the following cases would you like to include? Section...
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...A CONTEMPORARY AUDITING REAL ISSUES AND CASES Seventh Edition Michael C. Knapp University of Oklahoma ; \ 1% SOUTH-WESTERN CENGAGE Learning- Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States CONTENTS SECTION 1 Comprehensive Cases 1 Case 1.1 Enron Corporation 3 Arthur Edward Andersen established a simple motto that he required his subordinates and clients to invoke: "Think straight, talk straight." For decades, that motto sewed Arthur Andersen & Co. well. Unfortunately, the firm's association with one client, Enron Corporation, abruptly ended Andersen's long and proud history in the public accounting profession. K Y TOPICS: history of the public accounting profession in the United States, scope of E professional services provided to audit clients, auditor independence, and retention of audit workpapers. ; Case 1.2 Just for FEET, Inc. 23 In the fall of 1999, just a few months after reporting a record profit for fiscal 1998, Just for Feet collapsed and filed for bankruptcy. Subsequent investigations by law enforcement authorities revealed a massive accounting fraud that had grossly misrepresented the company's reported operating results. Key features of the fraud were improper accounting for "vendor allowances" and intentional understatements of the company's inventory valuation allowance. K Y TOPICS: applying analytical procedures, identifying inherent risk and control risk E factors, need for auditors to monitor...
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...Devry Inc Course Project Keller Graduate School of Management Professor: Dena Hale Principles of Customer Experience Management Rahil Motani Rahilm_86@yahoo.com CXM-527—February 23, 2014 Table of Contents 1. COVER PAGE………………………………………………………………………………………………………………………………1 2. TABLE OF CONTENTS………………………………………………………………………………………………………………...2 3. 1.0: COMPANY STATUS QUO……………………………………………………………………………………………………….3 4. 1.1 COMPANY BACKGROUND AND HUSTORY………………………………………………………………………………3 5. 1.2 CUSTOMER INTERACTION CHANNELS………………………………………………………………………………..3-4 6. 1.3 EXISTING CUSTOMER STRATEGY……………………………………………………………………………………….4-5 7. 1.4 EXISTING CUSTOMER SERVICE OVERVIEW……………………………………………………………………………5 8. 2.1 INTERACTION OVERVIEW…………………………………………………………………………………………………….5-6 9. 2.2 GENERATING AND MAINTAINING TRUST………………………………………………………………………………6 10. 2.3 DIFFUSING NEGATIVE FEEDBACK………………………………………………………………………………………6-7 11. 2.4 SCRIPTED INTERACTION SUGGESTION………………………………………………………………………………….7 12. 2.5 SOFTWARE VENDOR COMPARISON……………………………………………………………………………………….8 13. 3.0 CUSTOMER DATA PRIVACY……………………………………………………………………………………………………8 14. 3.1 IDENTIFYING INDIVIDUAL CUSTOMER………………………………………………………………………………….9 15. 3.2 RELAVANT CUSTOMER DATA……………………………………………………………………………………………9-10 16. 3.3 DATA COLLECTION LIMITS…………………………………………………………………………………………………..10 17. 3.4 INTERNAL DATA SHARING……………………………………………………………………………………………….10-11 18....
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...CHU HAI COLLEGE OF HIGHER EDUCATION 2010-2011 SEMESTER 2 BBA 353 STRATEGIC MANAGEMENT Group Case Study Project The Coca-Cola Company Tsang Hoi Ki Chan Ho Yin Fung Tsun Wai Chan Ka Po Yuen Sze Wing Chan Tai Hoi Yan Yue Kan (200826001H, (200826002H, (200826004H, (200826019H, (200826020H, (200826027H, (200926024E, FNE) FNE) FNE) FNE) FNE) FNE) FNE) Abstract This paper is a strategic analysis of The Coca-Cola Company (Coca-Cola), a leader in the beverage industry. Coca-Cola, the world’s leading soft drink maker, operates in more than 200 countries and owns or licenses more than 500 brands of nonalcoholic beverages. The company faces challenges in today’s market because of market changes, socio-economic changes and globalization. An external analysis of the soft drink industry is performed to understand the impact of environment. An internal analysis of Coca-Cola is performed to understand the internal capabilities. The conclusion of this case study emphasizes that the company needs to reduce its dependence on carbonated beverage and diversify its product portfolio into the noncarbonated sector to remain competitive. 2 Table of Contents Abstract .............................................................................................................................. 2 Section 1: Introduction ................................................................................................... 5 1.1 1.2 1.3 Mission and Objectives ..........
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...CHU HAI COLLEGE OF HIGHER EDUCATION 2010-2011 SEMESTER 2 BBA 353 STRATEGIC MANAGEMENT Group Case Study Project The Coca-Cola Company Tsang Hoi Ki Chan Ho Yin Fung Tsun Wai Chan Ka Po Yuen Sze Wing Chan Tai Hoi Yan Yue Kan (200826001H, (200826002H, (200826004H, (200826019H, (200826020H, (200826027H, (200926024E, FNE) FNE) FNE) FNE) FNE) FNE) FNE) Abstract This paper is a strategic analysis of The Coca-Cola Company (Coca-Cola), a leader in the beverage industry. Coca-Cola, the world’s leading soft drink maker, operates in more than 200 countries and owns or licenses more than 500 brands of nonalcoholic beverages. The company faces challenges in today’s market because of market changes, socio-economic changes and globalization. An external analysis of the soft drink industry is performed to understand the impact of environment. An internal analysis of Coca-Cola is performed to understand the internal capabilities. The conclusion of this case study emphasizes that the company needs to reduce its dependence on carbonated beverage and diversify its product portfolio into the noncarbonated sector to remain competitive. 2 Table of Contents Abstract .............................................................................................................................. 2 Section 1: Introduction ................................................................................................... 5 1.1 1.2 1.3 Mission and Objectives ..........
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...STRATEGIC ANALYSIS OF THE COCA-COLA COMPANY Dinesh Puravankara B Sc (Dairy Technology) Gujarat Agricultural UniversityJ 991 M Sc (Dairy Chemistry) Gujarat Agricultural University, 1994 PROJECT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION In the Faculty of Business Administration Executive MBA O Dinesh Puravankara 2007 SIMON FRASER UNIVERSITY Summer 2007 All rights reserved. This work may not be reproduced in whole or in part, by photocopy or other means, without permission of the author APPROVAL Name: Dinesh Puravankara Degree: Master of Business Administration Title of Project: Strategic Analysis of The Coca-Cola Company. Supervisory Committee: Mark Wexler Senior Supervisor Professor Neil R. Abramson Supervisor Associate Professor Date Approved: SIMON FRASER UNIVEliSITY LIBRARY Declaration of Partial Copyright Licence The author, whose copyright is declared on the title page of this work, has granted to Simon Fraser University the right to lend this thesis, project or extended essay to users of the Simon Fraser University Library, and to make partial or single copies only for such users or in response to a request from the library of any other university, or other educational institution, on its own behalf or for one of its users. The author has further granted permission to Simon Fraser University to keep or make a digital copy for use in its...
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...P A R T I I Be Creative W hat is the greatest difficulty people have in thinking about problems and issues? The standard answer is “the difficulty of evaluating the various solutions and choosing the best one.” In some cases, this may be true. But two other difficulties are equally troublesome: identifying problems and issues before they become crises, and getting beyond common, unoriginal solutions to creative ones. The first chapter in this part introduces the creative process. The other chapters expand this introduction, showing you how to search for challenges, express and investigate problems and issues, and produce many and varied solutions. By the end of Part II, you will have developed a proactive approach to problems and issues and learned how to stimulate your imagination. ISBN 1-256-46689-1 The Art of Thinking: A Guide to Critical and Creative Thought, Tenth Edition, by Vincent Ryan Ruggiero. Published by Pearson. Copyright © 2012 by Pearson Education, Inc. ISBN 1-256-46689-1 The Art of Thinking: A Guide to Critical and Creative Thought, Tenth Edition, by Vincent Ryan Ruggiero. Published by Pearson. Copyright © 2012 by Pearson Education, Inc. C H A P T E R 5 The Creative Process Have you heard any of these sayings: “Creativity can’t be learned,” “The way to be creative is to ignore traditional ways of doing things,” “It takes a high IQ to be creative,” “Taking drugs enhances a person’s creativity,” or “Creativity is related to mental illness”? They’ve all been...
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...1. BUSINESS CASE ANALYSIS Business Cases (Spring) Professor Dan Nicholes BUSI 4003 Yorkville University BUSINESS CASE ANALYSIS Professor Dan Nicholes Business Cases (Spring) BUSI 4003 Yorkville University Table of Contents Lululemon Athletica Inc.....................................................................................................................5 Pepsi Canada: The Pepsi Refresh Project.......................................................................................9 2. LULULEMON ATHLETICA INC. 1 Kelly Huang (Arman) wrote this case under the supervision of Professor Dante M. Pirouz solely to provide material for class discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised certain names and other identifying information to protect confidentiality. This publication may not be transmitted, photocopied, digitized or otherwise reproduced in any form or by any means without the permission of the copyright holder. Reproduction of this material is not covered under authorization by any reproduction rights organization. To order copies or request permission to reproduce materials, contact Ivey Publishing, Ivey Business School, Western University, London, Ontario, Canada, N6G 0N1; (t) 519.661.3208; (e) cases@ivey.ca; www.iveycases.com. Copyright © 2014, Richard Ivey School of Business Foundation Version: 2014-10-17 Near the...
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...The change of American automobile industry Bing Bai St. Thomas University Feb 20, 2013 Author Note Bing Bai, Department of Business, St. Thomas University This research was supported in part by a grant from the BUS 673 management writing & reporting class. Correspondence concerning this article should be addressed to Bing Bai, Department of Business, St. Thomas University, 16401 NW 37th Avenue, Miami Gardens, FL 33054 Contact: b0771276@stu.edu Introduction 2009, by the impact of the economic downturn in North America, the auto market is also showing a downward trend, the U.S. auto market, sales reached bottom in recent years, a decline of more than 20%. With the slow recovery of the economy in North America, as well as various stimulus policies play a role, so that the downward trend in remission. In 2010, total sales of U.S. automotive (car, SUV, MPV, pickup truck) reached 11,590,274, an increase of 11% year-on-year, U.S. vehicle sales remained year-on-year growth of 11% in January-July 2011. Undergo the shrinking of automobile market, although the United States rely on to curb the momentum of a sharp decline in the automotive market policy factors to a certain extent, the government "TM" subsidies just one pin short-term cardiac and unable to drive the stable recovery of the automotive market. The decline of the Big Three, but also to the...
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...entry into the higher-tier water business with its new brand, Trump Ice, it’s Casinos in Atlantic City (AC) do not seem to be doing so well. With increased competition, mounting regulations, and a relatively depressed economy the overall revenue of the Trump Organization’s AC hotels are diminishing, with administration expecting lower market shares in the coming years (“Trump buys raw”, 2009) (“The Trump Brand, 2012) (“Trump Entertainment Resorts, Inc”, 2010) (Bary, A., 2011). The organization’s failure to systematically allocate resources for periodic improvements/updates to these facilities have cost it the inability to attract or retain customers. In fact, just recently the organization relinquished one of its AC properties, The Trump Plaza to its competitor, The Golden Nugget (Wittowski, 2011). This is allocation of resources is critical in an industry where customer retention is correlated to the amount of expenditure and improvements made to the facilities. This slump in the organization competitive performance has been the case for quite some time. The Trump Organization has repeatedly fell at the brink of filing for bankruptcy – due to high leverage, low liquidity, and poor operating performance compared to its competition (Bingham, 2011). While financial stability has been a problem for the Trump Organization, the company’s AC properties, in particular, seem to have a problem in terms of branding. To be specific, the company should tailor and focus its marketing efforts...
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...HONG KONG/CHINA Bosideng International A warm and cosy stock A dominant brand with household recognition We initiate coverage on Bosideng with an Outperform, with 35% upside to our target price. Bosideng dominates China’s down jacket market with an estimated 37% market share in CY10. Its top brand is ranked the 13th most valuable consumer brand in China. We expect core revenue CAGR of 13% in FY12-14 on the back of continued penetration of down jackets in China. Additionally, Bosideng is building out a menswear business. While this makes up only 10% of revenues in FY12E, we expect it to generate organic revenue CAGR of 33% with the potential for further upside from acquisitions. High free cash flow and dividend yield Photo taken by the report’s lead analyst in rural China. “A Christmas to remember” – December 2010 3998 HK Price 27 Oct 11 12-month target Upside/Downside Valuation - PER Outperform HK$2.07 HK$ % HK$ 2.80 35.3 2.80 Bosideng is currently sitting on HK$2.8bn net cash and we forecast a free cash flow yield of 6% in FY12, rising to 10% in FY14. With a 75% payout ratio, Bosideng should generate a dividend yield of 8% in FY12. Bosideng is looking to make acquisitions in the highly fragmented menswear market. Past acquisitions have been successful and we don’t think it is likely the company will make any acquisition that depletes more than half of the cash pile at most; thus we think the dividend is secure. Market concerns are overdone Six out of...
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...there are multiple franchises being established and growing in the community as well as globally Tim Hortons is one of those companies. Due to their chain’s focus on top quality, always fresh products, value, great service and community leadership, Tim Hortons has made a respectable reputation for itself, it is a company that works hard to deliver superior quality products and services for guests and communities through leadership, innovation and partnerships, not only in Canada, where it all started but as well as internationally. In 1984, Tim Hortons opened its first U.S. restaurant in Tonawanda, New York, a suburban community north of Buffalo, which is just 16 kilometers from the Canadian border. (Budak, 2010) Tonawanda is close enough to Canada which gives some recognition into the new U.S. market. Companies that expand internationally can face many problems. In the U.S., Tim Hortons has built an emerging presence in the markets in the Northeast and Midwest U.S. and they are working to accelerating the brand business process and creating convenience. But with every success, they are failures. Tim Hortons is a reputable Canadian franchise known for their coffee and donuts. Can Tim Hortons penetrate the U.S. as well as they have in Canada? It is unlikely, as Tim...
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...BP Statistical Review of World Energy June 2011 bp.com/statisticalreview What’s inside? 1 6 Introduction 1 2 Group chief executive’s introduction 2010 in review 36 Hydroelectricity 36 Consumption Oil 6 8 15 16 18 Reserves Production and consumption Prices Refining Trade movements 38 Renewable energy 38 39 Other renewables consumption Biofuels production 40 Primary energy 40 41 Consumption Consumption by fuel 20 Natural gas 20 22 27 28 Reserves Production and consumption Prices Trade movements 44 Appendices 44 44 45 Approximate conversion factors Definitions More information 30 Coal 30 32 Reserves and prices Production and consumption 35 Nuclear energy 35 Consumption About this Review For 60 years, the BP Statistical Review of World Energy has provided high-quality, objective and globally consistent data on world energy markets. The Review is one of the most widely respected and authoritative publications in the field of energy economics, used for reference by the media, academia, world governments and energy companies. A new edition is published every June. Methodology The following methodological changes have been made to this year’s Review: • Fuels used as inputs for conversion technologies (gas-to-liquids, coal-to-liquids, and coal-to-gas) are counted as production for the source fuel and the outputs are counted as consumption for the converted fuel. • A new table has been added to the Review for consumption of commercial electricity...
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...9-205-058 REV: AUGUST 19, 2011 MALCOLM BAKER JAMES QUINN Ber rkshire Partne Bid e ers: dding f Cart for ter’s In the spring of 2001, Bost o ton-based pri ivate equity firm Berkshi Partners w consider ire was ring a levera aged buyout (LBO) of the William Cart Co., a lead ter ding producer of infant, ba r aby, and child dren’s appar in the Un rel nited States. Berkshire Par B rtners, which had extensi h ive experienc investing i the ce in retail and manufac cturing sector was initia drawn to Carter’s bec rs, ally o cause of the s strong brand name ngth of the s the co ompany had developed during its 136 d 6-year history as well as for the stren y, s senior mana agement team (See Exhibit 1 for a profil of Berkshir m. t le re.) To investigate the option of a potential LBO, Berkshir assembled a five-memb team, to b led o t f L re d ber be by managing dire ectors Ross Jo ones and Bra adley Bloom and senior a associate Mich hael Ascione (See e. Exhib 2 for biogr bit raphical sketc ches.) The tea would hav less than e am ve eight weeks to move throu all o ugh the stages of a Gol ldman Sachs-led auction— —from initial r research and due diligenc to valuation and ce bid st trategy. In addition to running the auction and thereby serv ving as Carter agent, Go r’s oldman Sachs (GS) s would be offering “staple-on” financing. Under this arr d g rangement, th winning b he bidder would have d ...
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