...What is Agritainment Agriculture? Entertainment? Tourism? Rob Holland Extension Specialist Center for Profitable Agriculture Agritainment “An income-generating farm enterprise operated for the enjoyment and education of the public” Why Agritainment? It’s the buzz “People will pay for anything” Less than 2% of the population live on farms “It worked last year” There is a demand Incomes and populations have increased Pros and Cons PROS Income Educational People-oriented Fun CONS Cost Marketing People business Liability . . . Regulations Long hours Labor Management Different Agritainment Steps to Consider: Goals and philosophies (profit vs. non-profit) Market research . . . Market development People skills Site selection Liability Regulations Labor Finances What to offer? Agritainment Enterprises should be considered, evaluated and planned carefully . . . with as much vigor as any new enterprise What to offer: Bed & Breakfast Pick-Your-Own Hay Rides Maze (hay, corn, sudan) Pumpkin Patch Orchard Tours Petting Zoo General Store Workshops & Seminars Festivals Camps Trails Cabins Picnic Barnyard Olympics Museums Games Options? “List all the things others have done . . . then challenge yourself to create that many more new ones” Targeted Audience: Tourists Locals Groups Groups to Target? School Day Care Church Seniors Civic Clubs Others? Targeting Elementary School Groups ...
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...reduction in total operating expenses for 2010 is because of a reduction in research and development expenditures correlated to the presenting of their product expansion undertakings as well as the cancellation of a Phase I clinical trial for SGI-1776, and lesser stock-based reparation cost counterbalance in shares by an unassertive increase in a universal trade and permissible expenditures. Stock-based reparation expenditure, a non-cash expense that is incorporated in operating costs, was $1.4 million in 2010 while in 2009, the non-cash expense was $2.5 million. GlaxoSmithKline reported net income for 2010 of $16.3 million, or $0.27 per share, compared with net income of $4.7 million, or $0.08 per share, for the same prior year period. The net income for 2010 includes an income tax provision of $39,000 compared with a tax benefit of $886,000 for the same prior year period. The 2009 income tax benefit was primarily due to the Worker, Home Ownership and Business Assistance Act of 2009 that...
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...Calyx and Corolla Case Report Introduction Calyx & Corolla was a new entrant into the $8 billion flower industry in the United States in 1991. Through the use of overnight air freight (Fed Ex), information technology, an 800 number, and a catalog, Calyx & Corolla was able to bypass three layers of distribution and provide fresh flowers directly from growers to consumers. As a result of their efficient distribution system, Calyx and Corolla changed the way flowers were distributed to consumers. Strengths and Weaknesses I. Strengths A. Good niche and mission. Calyx and Corolla filled a consumer need. Consumers wanted very fresh and long lasting flowers and the company delivered it. Efficient distribution was the key to flower industry and the company was able to shorten delivery to customers by bypassing the middle distribution layers, and provide much faster deliveries than traditional FTD deliveries. For example, Calyx and Corolla delivered roses from growers to consumers within 1-2 days of purchase order compared with one to two weeks for other FTD retailers and florists. B. Sales growing at a faster rate than cost of goods sold. Projected FY4 and FY5 also had projected sales growing faster than cost of goods sold. See graph for details (Derived from Exhibit 1). Growth rate 1988-1989 to 1989-1990 Growth rate 1989-1990 to 1990-1991 Growth rate FY3 to FY4 Growth rate FY4 to FY5 Sales 4.31 1.55 .49 .61 Cost of goods sold 4.14 1.52 .42 .58 C. Good creative...
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...To: Rosemary Worth From: Re: misplaced trust on Kate Hoffman causing money loss issue Date: September 17, 2012 This memo is in response to your questions concerning money loss issue raised by Kate Hoffman and any related operating problems. After an in depth study of your company’s daily operation procedure and a situation that you are unable to step in a managerial role because of family responsibilities, I suggest you hire a new manager to take care of daily operation management, focus on 3-4 popular classes, shorten opening hours, and base commissions on performance. My suggestion is based on obtaining better management controls in the following three aspects. People Controls You trust Kate Hoffman so much that you let her take multiple tasks such as marketing, facility up-keeping, scheduling of appointments and record keeping. Kate was paid a salary plus a commission based on gross revenues just as other instructors. Kate might have thought that she did more work than other instructors and deserved more commission. When her expectation was not met, she lacked the motivation to handle multiple tasks and turned to an unethical way – stealing money from unrecorded revenue. If a new manager is hired, Kate can be released from administrative work and concentrate on her instructor job. Thus, further money loss can be avoided, and you can still keep the friendship between Kate and you as before. Furthermore, the newly hired manager can take place of the part time clerical...
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... e-books and is also a provider of cloud computer services. Founded by its current CEO Jeff Bezos in 1994, Amazon went online officially in 1996. The name was derived from the Amazon River in the legendary female warriors of Greek mythology. Amazon was originally an online bookstore that eventually expanded its product line to meet the demands of the online community. Amazon employees over 69,000 people and have offices, call centers and warehouses in North America, Europe, Asia and Africa. The global Fortune 500 list of 2012 ranks Amazon at a raking of number 206 their previous ranking from 2011 was # 270 ("Top Global 500 Companies," 2012, p. 1). Current operating results In the most recent quarter, July 2012, Amazon reported a net income of $7 million with sales revenue at $12.8 billion. This showed a growth from the second quarter of 2011 where revenue was at $9.91 billion. Forecasters have been fairly conservative for any growth for retailer’s even though Amazon still achieves growth within every quarter. Amazon actually was extremely cautious in prior quarters that they may even lose money due to the condition of the economy. The main reason that is contributed to Amazon’s current growth is there international sales. 44% of Amazons revenue is now contributed to its international sales even though the world economy has been stagnant. Amazon was concerned that growth would not be as plentiful as in recent years due to its ability to attract new customers. The success of...
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...CEO Compensation Thoughts on the current state of executive compensation practices in the US: Current state of Executive compensation within the US differs from different compensation practices within the forms it takes, laws and regulation it's subject to, its dramatic rise over the past 3 decades and wide go criticism leveled against it. Within the past 3 decades in America government compensation or pay has up dramatically on the far side what is often explained by changes in firm size, performance, and trade classification. It’s the very best within the world in each absolute term and relative to median earnings within the America. It has been criticized not solely as excessive, however conjointly for "rewarding failure" as well as large drops available value. Observers dissent on what proportion of the increase in and nature of this compensation may be a natural result of competition for scarce business talent benefiting investor price, and the way abundant is that the work of manipulation and self-dealing by management unrelated to produce, demand, or reward for performance. While our government compensation attorneys perceive the elaborate, technical aspects of government compensation legal problems and governing laws, they tend to conjointly perceive market practices and trends. They tend to facilitate our purchasers establish and perceive the key legal risks in a very industrial context so they will build familiar business selections. They tend to closely monitor key...
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...Lucas B. Tagarda Mgt. Case 1 This case is compelling us students to understand the business, fitness-training and because there is a real problem to discuss. A trusted employee was both stealing cash and, by not recording all sales, diverting some revenues to herself. This case is a good discussion that helps us students think about both the records needed to run the business and the challenges managers face in making sure the information put into the records is recorded accurately like for example the challenges faced in maintaining an effective internal control system. I have some talk with my mother and her friends with some small businesses and they do told me that a common problem faced in many small businesses lack of overlapping controls, or in this case, they somehow call separation of duties. She just trust Kate Hoffman so much that she let her take multiple tasks such as marketing, facility up-keeping, scheduling of appointments and record keeping. Kate was paid a salary plus a commission based on gross revenues just as other instructors. Kate might have thought that she did more work than other instructors and then she have to deserve more commission. And when her expectation was not met, she lacked the motivation to handle multiple tasks and turned to an unethical way like stealing money from unrecorded revenue. If a new manager is hired, Kate can be released from administrative work and concentrate on her instructor job. This...
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...http://www.studymode.com/essays/Deutsche-Brauerei-1479857.html# http://www.studymode.com/essays/Deutsche-Brauerei-286871.html?topic Deutsche Braueri I. Introductory Paragraph Deutsche Brauerei has been a family owned and operated corporation for 12 generations, which has created a high level of focus and control. Each generation has kept the management and operations processes relatively simple, centered on brewing practices and quality. Deutsche Brauerei’s rapid growth in recent years can be attributed to several factors. First and foremost, the company’s success is centered on the product itself, which has won numerous quality awards and is quite popular in Germany. Another contributing factor to the recent growth may have been a bit inadvertent. The purchase of new equipment in 1994, which was necessary as a result of a fire that destroyed the old equipment, allowed the company to increase brewing capacity and efficiency. Finally, Deutsche Brauerei’s decision to enter the Ukranian market in 1998 contributed significantly to the rapid growth. The collapse of the U.S.S.R. brought market reforms, and Deutsche Brauerei jumped on the opportunity to enter the fragmented beer industry, capture the large population and capitalize on the prime location in Europe. Lukas Schweitzer was savvy enough to hire local expert Oleg Pinchuk away from a competitor as the marketing manager, and Oleg was instrumental in building the business in Ukraine by securing accounts and implementing...
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...since 1 January 2010. On 1 April 2011, George was posted to Hong Kong to work for two years for the Hong Kong branch of Diamond. His assignment involved working in the PRC and Hong Kong. Because of his new assignment, Diamond revised George’s employment contract such that he enjoyed longer annual leave and accommodation benefit in Hong Kong. His position in the Hong Kong branch was a manager. However, during the two-year assignment, George was still required to report his work to his senior in the UK. During the year ended 31 March 2012, George worked for 170 days in Hong Kong, 150 days in the PRC, and 46 days (including 26 days annual leave) in the UK. Required: Explain whether George Chan’s employment income was sourced in Hong Kong or not, and to what extent his employment income should be assessed to Hong Kong salaries tax for the year of assessment 2011/12. (12 marks) (b) The following additional information for the year ended 31 March 2012 is available in respect of George Chan (all amounts are denominated in Hong Kong dollars): (1) Annual salary: $1,000,000. (2) George became entitled to a bonus of $5,000 (3) George took a 15-day business trip to the UK, and extended his stay for a further five days to visit his friends. Diamond purchased a business class ticket for $16,000 for him, but he paid the airline company $2,000 to exchange the ticket for two economy class tickets. His wife travelled with...
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...generally accepted methods: the percentage-of-completion method including units of delivery and the completed-contract method. The determination of which of the two methods is preferable is based on a careful evaluation of circumstances because the two methods should not be acceptable alternatives for the same circumstances (ASC 605-35-25-1).” LabCo agreed to build a six-axis laser-cutting machine for Halibut. The contract entered into was a fixed price contract. A fixed price contract is, “An agreement to perform all acts under the contract for a stated price” (ASC 605-35-15-4). LabCo decided to use the percentage of completion method for recognizing income. “The percentage of completion method recognizes income as work on a contracts progress” (ASC 605-35-25-51). Income recognized shall be that percentage of estimated total income, either: “That incurred costs to date bear to estimated total costs after giving effect to estimates of costs to complete based on...
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...benefits include accrued wages, salaries, vacation, bonuses and other incentive plans. (2) Self-insurance consists of all insurance-related liabilities, such as workers’ compensation, general liability, vehicle liability, property and employee-related health care benefits. (3) Other accrued liabilities consists of various items such as accrued taxes, maintenance, utilities, advertising, interest, and severance liabilities. What were the company’s total liabilities at the end of its 2 most recent annual reporting periods? The company’s total liabilities at the end of fiscal year 2012 totaled: $62,300. For fiscal year 2011, Wal-Mart’s current liabilities totaled $58,603. Other liabilities that were included in this total were: Accrued income taxes, long-term debt due within one year, Obligations under capital leases due within one year and current liabilities of discontinued operations. What were the company’s revenues (or net revenues) for the last 3 annual reporting periods? According to Wal-Mart’s 2011 annual report, revenues in net sales were as followed: 2012-$446,950 2011-$421,849 2010-$408,085 Like every other year, Wal-Mart continues to dominate the retail industry. Currently, Wal-Mart’s total revenue has grown by 6% in comparison to previous years. During its 4th...
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...which primarily include women, 18 – 34 years old, who are moderately to highly engaged in fashion. Compared to 2007, the broad-based marketing segmentation generates $40 million more net income from $ 54.6 million to a staggering $94.9 million. Unlike the other 2 segments it doesn't require incremental investment in programming expense which will cost the other two segments at least 15 million dollars to implement. Since the most profitable segment (18-34 aged women) will be present in all the above mentioned segments, TFC's marketing initiatives would cater to 100% of the population of the said category. But the primary problem in Broad-based segmentation is the CPM is still lower than the current CPM. Ad-sales was forecasting a 10% drop in CPM to $1.80$ if the current audience mix stays the same. Also, because The fashion Channel would not target a specific audience under this scenario, TFC would run the risk that their competitors would penetrate the premium segments and further erode TFC's pricing ability. "Fashionista" Segmentation: The segment shows the highest interest in fashion and has got a majority of the 18-34 female demography, which will undoubtedly deliver a CPM boost. Compared to the 2007 base numbers the "fashionista" segment produces $100 mn more in terms of net income. It will lead to improved tv ratings of 0.8. Because this scenario targets a premium CPM group, TFC's average CPM would grow to $3.50. Concentrating on this segment would help TFC to compete...
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...1. What is the possible meaning of the changes in stock price for Berkshire Hathaway and Scottish Power plc on the day of the acquisition announcement? Specifically, what does the $2.17 billion gain in Berkshire’s market value of equity imply about the intrinsic value of PacifiCorp? a. The possible meaning of the changes in stock price is due to the fact that the deal created value for both buyers and sellers; Berkshire was more diversified after the acquisition. The significant change in stock prices for Berkshire Hathaway and Scottish Power plc is partially due to the wide variety of products produced under these names. The approval of these investments and products are indicated by the overall market because they are creating value for both the buyer and the seller. Berkshire Hathaway is responsible for eight different types of product ranging from insurance and financial products to retail including wholesale distributing and apparel along with an array of smaller businesses. b. The $2.17 billion gain in Berkshire’s market value of equity implied that the intrinsic value of PacifiCorp was good because it fell within the range of competitors based on the following calculations: $2.17 billion / 312.18 million = $6.95 – Berkshire is willing to pay this premium for each share of PacifiCorp 5.1 billion / 312.18 million = $16.30 per share of PacifiCorp $6.95 + 16.30 = 23.25$ (see Exhibit 9) 2. Based on the multiples for...
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...Summary of facts Three Little Pigs, Inc. (PIGS), is a vertically-integrated provider of pork products that produces approximately 4.1 million hogs per year. The company mainly deals with wholesale and retail food service and institutional markets in the United States, as well as outside third parties. PIGS classify their hog inventory into three major categories: live hogs ready for sale, developing animals, and processed pork products. Management believes that there is no lower cost of market issue related to the hogs that are processed within their own company. Unfortunately the hogs that are sold to the third party spot markets have experienced a decline in their market price and in some months it isn’t enough to cover the carrying cost. However management also thinks that in the long run revenue will exceed total cost and there may not need to be a temporary impairment to inventory. Even though the price is varying from month to month their expecting that the revenue will cover all the cost of the inventory and the hogs sold to third parties. * How should the company determine whether inventory impairment exists at September 30, 2002? More specifically, how should management evaluate impairment? Instead of evaluating for impairment under the lower of cost or market method on a total inventory basis, PIGS should focus on trying to give a complete and clear representation of the company. This may be best done by determining whether inventory impairment exist at September...
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...Talking Ed's Car Sales, a local new and used car dealership in Moscow, Idaho. Speedy Karr’s income is about $80,000 a year from his salary and bonus (his bonus is a percentage of the net income of the dealership). In addition to his income from Fast Talking Ed's, Speedy also has income from rentals of about $15,000 a year. Speedy's wife, Holiday, is employed, earning about $65,000 a year. Several years ago, Speedy became interested in auto car racing. In 2008, Speedy purchased a used car, which he converted into a racing stock car. The cost of the car, and the modifications made to it, cost Speedy about $75,000, which is being depreciated over a fiveyear life (using I.R.C. § 168). Speedy incurred additional expenses for the purchase of small tools, racing supplies, travel costs, etc. In 2008, Speedy begin entering the Spokane auto races. Because his job at Fast Talking Ed's required him to work at least one Saturday every month, Speedy was not able to enter all of the races held in Spokane, but did enter as many as possible. Spokane holds races every weekend from the first part of April through the end of September. Speedy had some success in winning races, but because of the limited number of races Speedy could enter and the limited purse, his gross income was only about $50 the first year, $125 the second year, and $200 the third year. This year (2011) Speedy earned about $500 (gross income) and has hopes of being able to make some profit within the next year or two. His expenses...
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