...The Story of The Three Little Pigs Once upon a time, there was a mother pig who had three little baby pigs. The three little pigs grew so big that their mother said to them, "You are too big to live here any longer. You must go and build houses for yourselves. But take care that the wolf does not catch you." The three little pigs set off. "We will take care that the wolf does not catch us," they said. Soon they met a man who was carrying some straw. "Please will you give me some straw?" asked the first little pig. "I want to build a house for myself." "Sure," said the man, and he gave the first little pig some straw. The first little pig built himself a house out of it. He was very pleased with his house. He said, "Now the wolf won't catch me and eat me!" The second little pig and the third little pig went on along the road. Soon they met a man who was carrying some sticks. "Please will you give me some sticks?" asked the second little pig. "I want to build a house for myself." "Sure," said the man, and he gave the second little pig some sticks. Then the second little pig built himself a house of sticks. It was stronger than the house of straw. The second little pig was very pleased with his house. He said, "Now the wolf won't catch me and eat me!" The third little pig walked along the road by himself. Soon he met a man carrying some bricks. "Please will you give me some bricks?" asked the third little pig. "I want to build a house for myself." "Sure," said the man...
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...Accounting Issue: Three Little Pigs Inc. inventory consists of livestock held for sale, developed, and processed (both internal and external). On September 30, 2002, the company states that even though market prices fell below the cost, Three Little Pigs Inc. is unwilling to accept impairment on their inventory due to increase revenue believed to be made up in the fourth quarter which will cover all losses from the decline. Secondly, we must determine an appropriate solution for recording their inventory. Possible Solutions: * Inventory be evaluated for impairment under the lower of cost or market method by inventory category, such as processed pork products, live hogs for sale, and developing animals. * Inventory be evaluated for impairment under the lower of cost or market method based on end product category, such as separating inventory into two groups: • nternal live hogs & developing animals to be processed are combined with processed pork products • Developing animals and live hogs sold to third parties in another group * Inventory evaluated for impairment on some other basis not described above Codification: 330-10-35 A departure from the cost basis of pricing the inventory is required when the utility of the goods is no longer as great as their cost. Where there is evidence that the utility of goods, in their disposal in the ordinary course of business, will be less than cost, whether due to physical deterioration, obsolescence, changes in prices levels...
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...The Three Little Pigs Once upon a time, there were three little pigs Oinky, Doinky, and Boinky, who live with their mother at the forest. One day there mother told them “ You’re all enough to be still living with me. Go and build houses for yourselves, just remember there is a big bad wolf out there so be careful and make your houses strong.” “Yes mother” Said the three little pigs “We will be ready for it” Oinky the oldest pig, was so lazy to build a house so he thought of making a house of straw.” Doinky the Second little pig likes to play a lot so he thought of making a house of sticks. Boinky the third little pig was clever enough to know that the big bad wolf is strong so he thought of making a house of bricks. One day, Oinky was outside of his house of his house when the big bad wolf came, Oinky quickly run and locked the door. “Little pig, little pig let me come in.” cried the wolf “No, no by the hair of my chinny chin chin I will not let you in.” Replied the little pig “Then I’ll huff and I’ll puff an I’ll blow your houses away” Shouted the wolf. The big bad wolf blew away Oinky’s house of straw and Oinky run to Doinky’s house of sticks. The following day the big bad wolf passed by Doinky’s house of sticks and saw the two pigs inside. “Little pigs, little pigs let me come in.” cried the wolf “No, no by the hair of our chinny chin chin we will not let you in.” Replied the two little pigs “Then I’ll huff and I’ll puff an I’ll blow your houses away” Shouted...
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...The Three Little Pigs Once upon a time, there were three little pigs Oinky, Doinky, and Boinky, who live with their mother at the forest. One day there mother told them “ You’re all enough to be still living with me. Go and build houses for yourselves, just remember there is a big bad wolf out there so be careful and make your houses strong.” “Yes mother” Said the three little pigs “We will be ready for it” Oinky the oldest pig, was so lazy to build a house so he thought of making a house of straw.” Doinky the Second little pig likes to play a lot so he thought of making a house of sticks. Boinky the third little pig was clever enough to know that the big bad wolf is strong so he thought of making a house of bricks. One day, Oinky was outside of his house of his house when the big bad wolf came, Oinky quickly run and locked the door. “Little pig, little pig let me come in.” cried the wolf “No, no by the hair of my chinny chin chin I will not let you in.” Replied the little pig “Then I’ll huff and I’ll puff an I’ll blow your houses away” Shouted the wolf. The big bad wolf blew away Oinky’s house of straw and Oinky run to Doinky’s house of sticks. The following day the big bad wolf passed by Doinky’s house of sticks and saw the two pigs inside. “Little pigs, little pigs let me come in.” cried the wolf “No, no by the hair of our chinny chin chin we will not let you in.” Replied the two little pigs “Then I’ll huff and I’ll puff an I’ll blow your houses away” Shouted...
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...Summary of the Facts Three Little Pigs, Inc. (PIGS) is trying to determine if they should impair their inventory due to a decline in futures prices. Although prices are declining, it is believed that the futures prices will begin to recover within the year. PIGS inventories consists of the following: live hogs to be internally processed, developing animals to be internally processed, internally processed pork products, live hogs to be sold to a third party, and developing animals to be sold to a third party. The question of impairment applies only to the live hogs and developing animals to be sold to a third party because it is believed that internally processed pork products will be able to cover the costs of live hogs and developing animals to be processed internally. Question: How should the Company determine whether an inventory impairment exists at September 30, 2002? More specifically, how should management evaluate impairment? Response: ASC 330-10-35-2 states that, “in accounting for inventories, a loss shall be recognized whenever the utility of goods is impaired by damage, deterioration, obsolescence, changes in price level, or other causes.” In PIGS case they should recognize a loss because the utility of their live hogs to be sold to a third party and their developing animals to be sold to a third party have suffered from a decrease in price level. When determining whether inventory should be evaluated for impairment under the lower of cost...
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...Three Little Pigs • Once upon a time there was a mother pig who had three little pigs. The three little pigs grew so big that their mother said to them, "You are too big to live here any longer. You must go and build houses for yourselves. But take care that the wolf does not catch you." • The three little pigs set off. "We will take care that the wolf does not catch us," they said. Soon they met a man who was carrying some straw. "Please will you give me some straw?" asked the first little pig. "I want to build a house for myself." "Yes," said the man and he gave the first little pig some straw. • Then the first little pig built himself a house of straw. He was very pleased with his house. He said, "Now the wolf won't catch me and eat me." "I shall build a stronger house than yours," said the second little pig. "I shall build a stronger house than yours, too," said the third little pig. • The second little pig and the third little pig went on along the road. Soon they met a man who was carrying some sticks. "Please will you give me some sticks?" asked the second little pig. "I want to build a house for myself." "Yes," said the man and he gave the second little pig some sticks. • Then the second little pig built himself a house of sticks. It was stronger than the house of straw. The second little pig was very pleased with his house. He said, "Now the wolf won't catch me and eat me." "I shall build a stronger house than yours," said the third little pig. ...
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...Three Little Pigs: Four Interpretations In these interpretations of the Three Little Pigs, there seems to be some serious thinking outside of the box. My childhood self has been terrorized. The interpretations yield a different outcome for the first two pigs than I remember from years long gone by. I, as a youngster, remember the first two pigs run to their brother’s brick home. The wolf is not killed but runs away with his tail on fire. The three interpretations of the story have the wolf devouring the first two pigs and the third pig kills the wolf. The interpretations have that similarity. The interpretations include the “rife” (DDBA-8005) of the story of the Three Little Pigs. The interpretations also have their views on “tyrants” (DDBA-8005) which the wolf symbolizes. Amdur speaks of the wolf is being the bully that seems to be satisfied by with the kill of the pigs (DDBA-8005). It seems the first two pigs are deemed weak enough to fit the lack of challenge the wolf is accustomed to. Fazio and Ek views the third pig as a “God-fearing” conqueror of the evil wolf (DDBA-8005). The difference is the symbolism of the wolf and the pigs. Gomez symbolizes the story to represent the working class and society. He also deems the third pig could be “the next despot” (DDBA-8005). Amdur’s symbolism seems to be viewed from a criminal drama television show perspective. Fazio and Ek relates to the story from a religious perspective. The research study justifies the action...
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...First Little Pig, and The Second Little Pig. This criminal trial is expected to be followed by a civil trial to be brought by the surviving Third Little Pig. The case has been characterized as a media circus. His testimony is transcribed below: "Everybody knows the story of the Three Little Pigs. Or at least they think they do. But I'll let you in on a little secret. Nobody knows the real story, because nobody has ever heard my side of the story. I'm Alexander T. Wolf. You can call me Al. I don't know how this whole Big Bad Wolf thing got started, but it's all wrong. Maybe it's because of our diet. Hey, it's not my fault wolves eat cute little animals like bunnies and sheep and pigs. That's just the way we are. If cheeseburgers were cute, folks would probably think you were Big and Bad too. But like I was saying, the whole big bad wolf thing is all wrong. The real story is about a sneeze and a cup of sugar. THIS IS THE REAL STORY. Way back in Once Upon a Time time, I was making a birthday cake for my dear old granny. I had a terrible sneezing cold. I ran out of sugar. So I walked down the street to ask my neighbor for a cup of sugar. Now this neighbor was a pig. And he wasn't too bright either. He had built his whole house out of straw. Can you believe it? I mean who in his right mind would build a house of straw? So of course the minute I knocked on the door, it fell right in. I didn't want to just walk into someone else's house. So I called, "Little Pig, Little Pig...
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...Abstract The pigs are always fat, lazy, and happy, whereas the wolves are always intimidating, shrewd, and even reckless. The tyrant in the story of the Three Little Pigs is the wolf, who is unable to be satisfied by his cravings and who must continue in his endless search for meaning. The story seems to portray the wolf as an imposing figure that is unconquerable by the pigs; however, in the end the wit of the third pig does indeed conquer the wolf. The wolf, in a typical role of preying on the weak, is able to blow down the houses of the first two pigs, but the third pig’s business nature and sturdy home hinders the wolf. The cycle is supposed to be a reverse full circle, with the pigs now being at the top of the food chain and in a sense, will retain the revolutionary spirit that had once been contained within the wolf, but was then passed on to the pig. All four of these stories provide their own perceptive insights into the classic tale, and shows how one story can provide four different viewpoints that are each unique and each worthy of expansion into their own universes. The Three Little Pigs This paper studies the different levels of perceived cunning between the wolf and the pig, using several examples to determine each animal’s resourcefulness. The stories of the Three Little Pigs have a single and commonly understood plot and the moral of the tale shows how productiveness and tenacity pay off in the end. The twist in these four stories is that each of the...
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...The Three Little Pigs Rewrite Once upon a time there was a wolf who loved doing good things for people. The only thing he loved more was his mother. One day she sat him down and told him that it’s time for him to move out and find a house and family for himself. So he packed up his stuff and moved out, but first he made sure to say goodbye to his mother, his father, and his grandma and grandpa. Somewhere else in the world the same thing was happening to 3 little piggies who are brothers. Their mom sent them out to go build a home and find a family. Later that day Great Good Wolf was walking on a tiny road through the forest when suddenly he heard someone scream “HELP” so he dropped his bags and ran towards the screams. When he got there...
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...The Three Little Pigs classic bed time story that teaches us life lessons and brings back memories of our childhood. What more can anyone ask for from a story? The story begins with an old mother pig who had three little piglets. She could not afford to have them living at home and so asked them to go out and seek their own fortune. The trio set out on the road full of optimism. The first piglet met a man selling straw, he asked for some and set out to build a house. Enter the Big Bad wolf, who had his eye on the piglets. He went up to the first piglet’s house; he huffed and puffed and blew the house down. That was the end for little piggy. Next he went to the second piglet’s house, whose house was built from grass. This house was no match for the huffing and puffing wolf. Finally he came across the third piglet, who had built a house of bricks, and the wolf tried and tried but couldn’t do a thing to bring the house down. Undeterred, he tried a new course of action; he invited the piglet to come and pick turnips the next day. The piglet, however had sensed his ulterior motives and went early and got the turnips. The wolf was not done yet; he invited the piglet to go apple picking the next day. This time the wolf arrived early, but the piglet had gone earlier. The wolf trapped the pig up on the tree, but the piglet tossed an apple far from the wolf and fooled the wolf with this distraction. Next the wolf called the little pig to the fair, this time the wolf caught the...
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...Once upon a time there was an old Sow with three little Pigs, and as she had not enough to keep them, she sent them out to seek their fortune. All three pigs decided to build a house, and set off to the brickworks to buy some bricks. But soon the three little pigs came across a Man carrying a bundle of straw. The first little pig said to himself: “Now I won’t need to walk so far to the brickworks! I’d much rather do less work, and then spend the rest of my afternoon relaxing.” So the first little pig said to the Man carrying straw: “Please, Man, give me that straw to build me a house.” The Man did, and the little Pig quickly built a house with it right where he stood, and then settled down and prepared to have a sleep for the rest of the afternoon. Presently...
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...Case 04-4 Three Little Pigs, Inc. Research Response Three Little Pigs, Inc. (PIGS) is a provider of live hogs and pork products. They classify inventory into three distinct categories: live hogs ready for sale, developing animals, and processed pork products. They have always evaluated inventory at cost because the wholesale price has always exceeded the cost of bringing the products to the market. Now, due to several factors, PIGS believes that they may have a lower of cost or market issue related to valuing some of the hogs. 1) Does PIGS need to write-down inventory? 2) What approach should be used for the write-down (by category, total, end category, etc.)? Does PIGS need to write-down inventory? PIGS has evidence that predicted futures prices for the months of October 2002 – January 2003 will fall below the cost of production for a hog. Where there is evidence that the utility of goods will be less than cost the difference is recognized in the current period (ASC 330-10-35-1). A write-down is generally required unless the decline is due to seasonal price fluctuations (ASC 330-10-55-2). Though, Farmer Joe believes this is just a seasonal fluctuation, there is not enough evidence in the case to support that claim. There are no examples of this happening in prior years. The one reason that is given for the price decrease is the capture of the Big Bad Wolf, which led to an increase in the supply of pork. This appears to be an unusual event that would not happen...
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...Three little pigs It's been three weeks since the big bad wolf has eaten my two brothers and I haven't had an opportunity to give them a proper burial because I fear the wolf is lurking out in the woods still. Some Days during my morning breakfast, I see a movement in trees, he's out there I know he is, lurking, looking, waiting for me to open my door and let my guard down. Sometimes at night i'll wake up to the sound of claws on my window “skrrreeek” (onomatopoeia). I quickly turn on my light look out the window but nothing was there. The only reason that the big bad wolf hasn't got me yet is because I have my strong brick house unlike my idiot brothers who hastily built houses of straw and twig. But lately I have gotten myself in a bit of hot water since I have built my home, I have been getting visited by some men in suits who say I need to get my home inspected to make sure it is up to date with some silly code, plus on top of that I have to start...
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...Research Case 2 Summary of Facts Three Little Pigs (PIGS) provides pork products to the wholesale and retail food service and institutional markets, as well as selling live hogs to outside third parties, though they have no firm commitments to do so. There are three major categories of inventory: live hogs ready for sale, developing animals, and processed pork products. The CEO of PIGS has stated that processed pork prices exceed the costs of producing such products, and believes that because of this there is no lower of cost or market issue related to hogs being developed for processing. The hogs that cannot be easily transported and processed will be sold to third parties (not processed) at market price, which has recently declined. The supposed lower of cost or market issue is dealing with developing animals that are held for sale to third parties. Farmer Joe believes that the market price decline is due to seasonal fluctuations, and that any impairment would be temporary. He also points out that futures prices for the fourth quarter reflect a recovery in prices, and should cover the cost of the company's inventory. The futures prices (at September 30, 2002) are higher than the carrying costs for the animals, except for the animals coming to maturity in the next month. These animals are currently costing $2 more than they will be sold for. Despite the fact that current market prices are below cost, management expects to recover all production costs at September...
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