...Goodwill industry is a global leader in the social services industry. They generate opportunities for people to help them achieve economic stability. They also help to build strong families and build their communities by offering job training, employment placement services, and many other community based programs for all kinds of people, and in a variety of different industries including in computer programming, manufacturing, technology, healthcare, and even construction. These people include those with disabilities, those who lack education, and those who have little or no job experience, and those who are having trouble finding employment. The way that they pay for these programs is through selling donated clothes and other household goods. There are currently 165 independent community-based Goodwill agencies in the United States and Canada, along with 14 affiliates in 13 other countries. Together they have provided employment training and job placement services to over 2.4 million people. They currently have more than 2500 retail stores throughout the United States and Canada, and are also online. As of 2010, they reported over $4 billion in revenues. Goodwill has earned the trust and support of over 79 million donors today. In addition to job placement, they also have a philosophy that it is no longer enough to offer job placement alone. Many of the Goodwill agencies also show a leadership commitment to strengthening families, and allocate more financial resources...
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...Artistry, Choice and Leadership: Reframing Organizations Vanessa M. Araiza March 2015 California State University, Northridge Introduction Organization Historical Background Goodwill originated in 1919 with Edgar J. Helms, a minister with a vision and a mission to afford individuals with disabilities and other disadvantage minorities, including veterans returning from World War I. The innovator saw the opportunity to create a service where individuals through recycling unwanted items through community donations and reselling those items to generate jobs for those who otherwise would not have the opportunity to attain a job. As with organizations, Goodwill originated with a simple two level operational structural frame, with the minister making all the decisions on the everyday operation of the organization and his team of employees with disabilities running the day to day operations. The organization refurbished unwanted goods within the community and resold items for a profit in order to generate jobs for individuals with disadvantages. During the course of time the organization has expanded tremendously and even partnered up with other nonprofit organizations, such as the Red Cross, to provide resources to individuals in need (History of Goodwill, 2005). The one-boss simple structure arrangement has evolved into a “machine bureaucracy” sort of organization, as described by Mintzberg’s five-step model. Today the organization is an organization...
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...Pleasant Personality and Very Positive Attitude. ------------------------------------------------- SKILLS & ABILITIES ● Picker / Warehouse ● Computer Skill ● Food Service ● Catering ● Food Prep ● Custodial/Janitorial ● Cooking ● Quality Control ● Banquet Set-up ● Language: English, Creole & French ● Intangibles: Work effectively with a diverse population, Very Responsible, Very Reliable, Always on Time, and Excellent work Habits. ------------------------------------------------- RELATED WORK EXPERIENCE 04/2013 – 06/2015 Custodian Goodwill Industries Supv: Allan Rapalo 305-439-8007 ● Responsible for cleaning offices. 06/2010 – 06/2013 Sales Associate Goodwill Industries Supv: Ludmina ● Responsible for cleaning the store, fixing, and cashier. 04/2010 – 11/2007 Q.C Inspector Goodwill Industries Miami, FL Supv: Richard Lederi 305-325-9114 2121 Northwest 21st Street ● Responsible for Quality Control. Inspected fabric and cuts made in Cutting Department. Insured that Cutting Machines meet required specifications, sorted cut material for distribution, and reported any adverse issues to my...
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...I have personally not heard of Goodwill stores. But, being a college student, I do shop at thrift store locations once in a while. I think the biggest benefit for companies that promotes used clothes is that, it is cheap and that the concept of a thift store benefits the society. Mostly, I would go buy a pair of jeans, or normal everyday t-shirt than I can wear to work or college. Generally, for one reason or another, my family does not prefer to buy anything from thrift stores at all. Mainly, it’s the concept of using, used clothes that bothers them. Its always the mentality that “if I chip in another 5 bucks, I can get a new product. So why bother getting a used on?” Seeing the video, I do not understand how people would like to purchase fashioned clothing and items from goodwill thrift stores. But everyday use items are the ideal items that I would definitely purchase at thrift stores. The three types of customers are the following: Early adopters, late adopters, and critical mass. In my opinion, early adopters are most likely to spend more money on the clothes that they shop for and buy. In other words, early adopters are most likely to shop at goodwill’s boutique shops, looking for the newest designs and most fashionable items. Because early adopters don’t mind spending a little more on new fashion goods, it makes the most sense for goodwill to prioritize boutique stores. In my opinion, this is where goodwill trys to have the biggest profit margins, making boutique...
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...Goodwill Industries Of Central Texas Who are Goodwill’s customers and how have their demographics changed over time? Goodwill has a varied customer base that may shop there for different reasons. As outlined by Fitzsimmons et al., (2014), “Goodwill Industries of Central Texas (GUCT) was founded in 1958 to help with people with disabilities lead productive lives” (p, 294). Consequently, some of Goodwill’s customers will be those who also wish to support those with disabilities. Next, customers who are perhaps on a low income or where price and affordability are of a sensitive nature will shop at Goodwill as clothes are typically priced well below $10 for items of clothing. As Goodwill’s inventory is built from donations, it could be said that some of those donations may be regarded as quality trash; trash that is perhaps too good to throw out. At this point the phrase of “another mans trash is another mans treasure” comes into force as these types of donations provide opportunities for customers to find a bargain. Lastly, there are those customers that are looking for that classic style of clothing or that old fashioned decorative piece that would look lovely in the living room. Goodwill is the place to go. The demographics of Goodwill’s customers have changed over time. There initial demographic were those who were price sensitive but now they encompass a broad customer base which will include those who are not price sensitive, those who want a bargain and those...
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...Environmental Scan Paper Environmental scans are critical to have in the business industry. An environmental scan is an examination of the internal and external environment of the organization. It is necessary to conduct an environmental scan in order to determine the organization’s goals and what steps to take to reach those goals. Environment scanning is processed to determine development and forecasts of elements that will influence the success of the business. According to an article by (Environmental Scanning - Internal & External Analysis of Environment, 2013). Environmental scanning refers to possession and utilization of information about occasions, patterns, trends, and relationships within an organization’s internal and external environment. Organizations can identify any competitive advantages with an environmental scan. The environmental scan can also help guide in creating a business strategy in which it will help add value to the company and overcome competition by identifying opportunities and minimizing threats. Internal and External Environments Organizations should focus first on the internal analysis of the environment. Internal scan involves observation of teams, employee interaction, brand awareness, organizational structure, operations, training, etc. The internal analysis helps to identify strengths and weaknesses of an organization. Internal factors can be controlled by the business; some factors include business image, reputation, management structure...
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...Draft Version of Goodwill Case Study Introduction: Humanitarian work is associated with receiving charitable donations from members, businesses, and government agencies, to be redistributed to communities in need. Goodwill is an example of a different mission in Humanitarian work. Goodwill is the pioneer organization in branding their humanitarian work and build an international business without compromising their core mission or reputation. Goodwill uses good reputation of its name to generate contributions and donations. The materials donated find its way to the organization's stores, to secure funds for their community based programs. This group case study will discuss Goodwill’s advantages and their success in social services, highlight problems as well as solutions facing the organization, discuss the concept of discrimination and include any personal experiences, and the ability to innovate within organizations. Advantages of Goodwill: Since 1902, when Goodwill started its charitable work, the organization maintained a good reputation. Today, the biggest advantage of Goodwill is the good reputation the organization still enjoys. Goodwill success arises from the organization's management ability to focus on their employee’s morale in order to maintain the organization's reputation. Another great advantage of Goodwill is the high rate of satisfaction among their employees. The company hires from the weak sections of the employment market by focusing on the immigrant...
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...are combined retroactively. With the purchase method, the assets and liabilities of the acquired firm are adjusted to fair value; its reacquisition revenues and expenses are excluded from the combined income statement .In effect, the acquiree's books as of the date of the business combination are treated as if it were the end of its fiscal year, even though it may not be .For pooling accounting, however, the combinee's results of operations prior to the date of acquisition are included in the combiner’s results of operations as if the combination took place at the beginning of the year. The future earnings of pooling companies tend to be higher than those of purchase companies, primarily because of additional depreciation and goodwill amortization. Because of the possibility of abuse, the APB placed tight restrictions on the use of the pooling method by requiring compliance with twelve criteria. Perhaps the most important (and difficult) of these requires that a company exchange a portion of its shares for at least 90 percent of the voting stock of the other company. If any of the twelve criteria are not met, the business combination must be accounted for as a purchase. It is believed that under purchase accounting , the investment by the holding company contributes to group profits only after the combination whereas under the pooling-of-interests method , all the pre-combination profits are...
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...da Spanish Operations: Ida acquired a smaller competing company located in Spain, and the acquisition resulted in goodwill being recorded. Assume that (1) the activities in Spain represent the lowest level at which internal management monitors goodwill and (2) the Spanish operations represent CGU under IFRS and reporting unit under U.S. GAAP. At the end of 2009 under GAAP and IFRS the recoverable amount of the asset including goodwill exceeded its carrying amount, suggesting that the goodwill allocated to the Spanish operations was impaired. At the end of 2010 a new legislation act was passed restricting exports of Ida’s main product. The following information relates to the CGU/reporting unit of Ida’s Spanish operations before impairment analysis: Cash$50,000 PP&E$3,000,000 Land$150,000 Goodwill$300,000 Total Assets$3,500,000 Liabilities($1,300,000) Carrying Value$2,200,000 As a result of the change in legislation, Ida’s production will be significantly affected for the foreseeable future. In addition, external industry reports estimate a stagnant growth rate for the foreseeable future. The significant export restriction and resulting production decrease are impairment issues that require Ida to estimate the recoverable amount of its operations as of the end of 2010. Ida’s management noted the following as of December 31,2010: Value in Use of CGU$1,800,000 Fair Value/PV of future cash flows$2,100,000 Fair Value of PP&E$3,100,000 Cost to sell CGU/reporting...
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...Introduction to Security Management Roles of Security April 12, 2015 Security Directors play a vital role in securing and protecting the assets of organizations. In order for them to be successful in their jobs they must have the necessary knowledge and skills to accomplish their jobs and meet the changing needs of the business. As a result of a personal interview with the Harriett Moore, Director of Loss Prevention of Goodwill Industries of the Chesapeake Inc I was able to determine her areas of responsibility, the skills required for her job, the organizations she is involved with, and the activities she completes to do her job. Harriett Moore has been the Director of Loss Prevention for Goodwill Industries for the last four years, and she oversees loss prevention for the retail stores. She currently has a bachelor’s degree in business administration and a minor in criminal justice. She felt that the knowledge she gained from her business and criminal justice degree has helped her to gain the necessary skills to effectively do her job. H. Moore (personal communication, April 9, 2015) stated that the skills needed for loss prevention jobs in her opinion were “ability to work independently, excellent organizational skills, attention to detail, good interpersonal skills, good communication skills, strong analytical skills and ability to conduct ethical investigations.” All of these skills she felt were critical in the completion of her job. ...
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...IAS 38 — Intangible Assets Overview IAS 38 Intangible Assets outlines the accounting requirements for intangible assets, which are non-monetary assets which are without physical substance and identifiable (either being separable or arising from contractual or other legal rights). Intangible assets meeting the relevant recognition criteria are initially measured at cost, subsequently measured at cost or using the revaluation model, and amortised on a systematic basis over their useful lives (unless the asset has an indefinite useful life, in which case it is not amortised). IAS 38 was revised in March 2004 and applies to intangible assets acquired in business combinations occurring on or after 31 March 2004, or otherwise to other intangible assets for annual periods beginning on or after 31 March 2004. History of IAS 38 February 1977 Exposure Draft E9 Accounting for Research and Development Activities July 1978 IAS 9 (1978) Accounting for Research and Development Activities 1 January 1980 Effective date of IAS 9 (1978) August 1991 Exposure Draft E37 Research and Development Costs December 1993 IAS 9 (1993) Research and Development Costs 1 January 1995 Effective date of IAS 9 (1993) June 1995 Exposure Draft E50 Intangible Assets August 1997 E50 was modified and re-exposed as Exposure Draft E59 Intangible Assets September 1998 IAS 38 Intangible Assets 1 July 1999 Effective date of IAS 38 (1998) 31 March 2004 Revisions to IAS 38 1 April 2004 Effective date of March...
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...Deloitte Trueblood Case: 11-7 Due (5/28/13) Allfoods Corporation Team Members: Heidi Fosse (FosseH@cwu.edu) Josh Minert (MinertJ@cwu.edu) Brianna Brown (BrownB@cwu.edu) Summary: * Calendar year-end company * February 1, 2009 – Allfoods announced acquiring 80% of outstanding common stock of Baked Beans Corp. (Baked Beans) in business combination * August 1, 2009 (acquisition date) – Allfoods paid $40M cash and issued 2 million shares of Allfoods common stock to selling shareholders of Baked Beans * All outstanding stock options granted to Baked Beans employees will be replaced with Allfoods stock options Determining Consideration Transferred: * August 1, 2009 – Allfoods acquired Baked Beans * Allfoods share price was $30 on announcement date * Allfoods share price was $35 on acquisition date * Allfoods would issue the selling shareholders an additional 1 million shares if Baked Beans revenues for 12-month period after acquisition were at least $150 M * Fair value of contingent consideration - $20 M as of acquisition date * Value of replacement stock option awards attributable to precombination services is $5M and postcombination services is $7M * Allfoods incurred $4M of acquisition related costs Fair Value of Assets Acquired and Liabilities Assumed: * Baked Beans owns manufacturing facility in CA comprised of: * Land and two buildings – could be rezoned into residential subdivision; management determined the...
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...and they may be classified into two basic types: tangible and intangible. Tangible assets have physical substance, while intangible assets either have no physical substance, or have a value that is not conveyed by what physical substance they do have (e.g., the value of computer software is not reasonably measured with reference to the cost of the diskettes on which these are contained). The value of an intangible asset is a function of the rights or privileges that its ownership conveys to the business enterprise. Intangible assets can be further categorized as either 1. Identifiable, or 2. Unidentifiable (i.e., goodwill). Identifiable intangibles include patents, copyrights, brand names, customer lists, trade names, and other specific rights that typically can be conveyed by an owner without necessarily also transferring related physical assets. Goodwill, on the other hand, cannot be meaningfully transferred to a new owner without also selling the other assets and/or the operations of the business. Research and development costs are also addressed in this chapter. Formerly the...
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...Eaton Corporation recently made an acquisition of Cooper Industries. Eaton Corporation was founded in 1911 by Joseph Eaton. Eaton Corporation specializes in diversified power management. Its primary business focus is on the Electrical Sector; however, it does have four other segments in Truck, Aerospace, Hydraulics, and Automobile and has businesses both domestic and international. Eaton has over 72,000 employees worldwide and sells products to more than 150 countries. According to its 2011 annual report, Eaton Corporation reported $16 billion in sales with a profit of $1.3 billion. Cooper Industries was founded in 1833 and like Eaton Corporation; it is a diversified manufacturer of electrical components and tools. “Cooper has seven operating divisions with leading positions and world-class products and brands including Bussmann electrical and electronic fuses; Crouse-Hinds and CEAG explosion-proof electrical equipment; Halo and Metalux lighting fixtures; and Kyle and McGraw-Edison power systems products.” (Eaton to Acquire, 2012). Between the two companies, there is a lot of room to improve their products and meet customer needs. After the acquisition; the new company will continue to make electrical products their primary focus. According to its 2011 annual report, Cooper Industries reported $5.6 billion in revenues and $827.6 million in profits. The acquisition of Cooper Industries by Eaton Corporation is considered to be a win-win move for both companies that are both leaders...
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...is, “the higher of its fair value less costs to sell and its value in use. (P-13 IAS 36) So, the impairment loss is 1100, 000-900,000=200,000 2. According to the FASB, “An impairment loss shall be recognized only if the carrying amount of a long-lived asset (asset group) is not recoverable and exceeds its fair value.”(360-10-35-17) However, in this case the recoverable costs is 1,150,000 which is larger than the carrying value 1,100,000. Thus, we do not need to record the impairment loss under GAAP. 3. Part 1 IFRS Under IFRS, “A cash-generating unit to which goodwill has been allocated shall be tested for Impairment annually, and whenever there is an indication that the unit may be impaired, by comparing the carrying amount of the unit, including the goodwill, with the recoverable amount of the unit. If the recoverable amount of the unit exceeds the carrying amount of the unit, the unit and the goodwill allocated to that unit shall be regarded as not impaired. If the carrying amount of the unit exceeds the recoverable amount of the unit, the entity shall recognize the impairment loss in accordance with paragraph 104.”...
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