...Memo 1: eVade Pays Up 1. present obligation defer of liability 2. state law, so not a contingency 3. legal liability On March 31, 2012 Doing nothing: reason: yes there is a new tax rule of amnesty program, but it’s contingent on voluntarily resgister on prospective basis. If they didn’t file the paper work, they still may subject to $60 million. No legal reduction on the liability yet. Code: gain contingency, derecognition of liability extinguish405-40-1 On June 15, 2012 Memo 2: Talking about 37 million dollars It’s not an operating lease. Session 8: In-Class Discussion Case #2 - Bear Minimum Provision 3: 25-4 This guidance addresses what constitutes minimum lease payments under the minimum-lease-payments criterion in paragraph 840-10-25-1(d) from the perspective of the lessee and the lessor. Lease payments that depend on a factor directly related to the future use of the leased property, such as machine hours of use or sales volume during the lease term, are contingent rentals and, accordingly, are excluded from minimum lease payments in their entirety. (Example 6 [see paragraph 840-10-55-38] illustrates this guidance.) However, lease payments that depend on an existing index or rate, such as the consumer price index or the prime interest rate, shall be included in minimum lease payments based on the index or rate existing at lease inception; any increases or decreases in lease payments that result from subsequent changes in the index or rate are...
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...Memo To: Jeff Smart, Chief Operating Officer of Mitchell From: Yuxi Zhang, Accountant Subject: Responsibility Accounting Method in Corporation Operation Date: September 20, 2015 This memo is in response to your questions concerning the responsibility accounting method. The memo will first explain responsibility accounting and then discuss how to correctly applying it in operation. Finally, some precautions of system installed are provided too you. After you understanding responsibility accounting method, you will be better able to decide whether you want to install for the company. What Is Responsibility Accounting? Based on Managerial Cost Accounting Implementation Guide, the definition of responsibility accounting is: “Collection, summarization, and reporting of financial information about various decision centers (responsibility centers) throughout an organization; also called activity accounting or profitability accounting. It traces costs, revenues, or profits to the individual managers primarily responsible for making decisions about the costs, revenues, or profits in question and taking appropriate actions. Responsibility accounting is appropriate where top management has delegated authority to make decisions. The idea being that each manager’s performance should be judged by how well he or she manages those items under his or her control.” The responsibility accounting system is based on the idea that proper management should take place as closely to...
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...Engineering-Masters, Inc. MEMORANDUM Date: Wednesday, July 1, 2007 To: Harold Johnston From: Isabel Higginbot Subject: Procedure for Handling Payroll Advances ------------------------------------------------- There is a new procedure (to reflect updated policies) for obtaining payroll advances. I believe that our employees will find an improvement over the old, confusing procedure. The new procedure is as follows: Procedure 1. Obtain Form PR-7, Request for Payroll Advance, form your supervisor. 2. Complete the form by filling in all the blanks in the Employee Section of the form. 3. Have your immediate supervisor approve your request by signing on the Supervisor Approval line. 4. Take the approved Form PR-7 to the receptionist in the Payroll and Benefits Office, Building Z, Room 1620. 5. Pick up your check from the cashier’s office, Main Building, Room 201 three working days after turning in Form PR-7. You must have your employee identification card with you to receive your check. 6. Sign the receipt form in the presence of the cashier’s office clerk. Policies The following policies govern the issue of payroll advances: 1. Payroll advances may not total more than 80% of an employees normal net pay for a payroll period. 2. Except in the case of a documented emergency, payroll advances are limited to one every two months. 3. Don’t try to cheat the system we will catch you every time. 4. Honesty is the best policy...
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...QUESTION PRESENTED Whether a construction worker has a cause of action to declare a found wallet lost property in a situation where the wallet was found sitting on a top of a duct behind a wall where the wallet appears to have been located since 1972 and has not been claimed by its original owner? BRIEF ANSWER No, it not likely that Robert Langdon will succeed in his claim to the money found by him on the top of the duct because of the location where the money was found as well as the manner in which it was concealed. Here, since the wallet was found sitting on a duct, it was likely that the original owner intentionally placed the property in this location for safekeeping, with the intent to later return for it. STATEMENT OF FACTS Plaintiff, Robert Langdon, is a construction worker and an employee for Mason and Mason Construction Company. Currently, Mr. Langdon is working with fifteen other men on the renovation of the second floor at Cleveland-Marshall College of Law. His primary duty consists of plastering the walls of the law school with his fellow co-workers. In August of 2009, Mr. Langdon was working on the walls located in a far back corner of the second floor when he discovered a dusty item sitting on top of a duct that was behind the wall. Upon further inspection, Langdon found that the item was a faded brown leather wallet, which contained $324 but no other forms of identification. The dated currency caused Langdon to believe the wallet had been...
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...To: Dr. Christine Cranford From: Thomas Forsyth Date: October 25, 2015 Subject: Building a Budget Drag Car Summary Car enthusiasts have one things in common and that is to go fast and faster. Some spend countless amounts of money and hours on building a drag car to get that tenth of a second faster than the car next to them in the lineup. Those who do not have a lot of money to put into their car but thirst for fast times have an even bigger struggle… Those without all the money to spend on the dream to go faster have to save up and spend cautiously as well as be creative on achieving faster times and fixing the car when things start to go wrong. What Is my Topic? Race cars have always been around and the desire to go faster is bigger than ever with people doing crazy motor swaps and making incredible and unthinkable times in a quarter mile. Making a car is easy from the surface, all you need is: motor, transmission, wheels and tires, and some electronics. What really sets cars apart are all the little physically but major components such as internals of a motor: pistons, rods, crankshaft, and camshaft. What Is the Problem Being Investigated? How to successfully build a low cost and reliable drag car while still being able to run fast quarter mile times. One of the best ways to save money the quickest is to turn a daily driven car into the race car for the weekends. This alone can save thousands of dollars as long as the frame and shell is...
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...After analyzing the case study, Is the Rookie Ready? Tim should hire Alessandra due to her flexibility and strengths. Currently Tim is in a situation where he needs to provide software for the Hybara Casino before the start of the New Year with a time constraint of two weeks, with newly appointed team manager Kristen that hasn’t developed a firm command of her team. Tim needs to determine whether or not Kristen can handle the situation on her own or hire Alessandra to take command and secure the deal with the Hybara Situation. Although Kristen seems able to complete the task, the assignment is being rushed and will undoubtedly result in some errors. As a newly promoted team manager she has the current job of gathering the respect of her team and by presenting this issue to her team it puts her in an unprofessional position even though vacations are subject to the business’s needs. Currently two of her team members will unlikely join Kristen due to unavoidable constraints leaving her with only a team size of six to complete a task that would normally be completed with eight and doing this all with only two weeks of time while normally would take six weeks. Although the price of Alessandra’s services are expensive, Tim should hire her to make this situation more easily manageable and to create a healthy relationship between the business and the customer. Tim and Kristen should contact each other at the start of the next day and Tim should tell Alessandra that he would be hiring...
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...| Pearson Waters Inc. | Memo To: | IT Development Department | From: | Donald Foulk | cc: | | Date: | April 1, 2014 | Re: | Unethical Coding Practices | | | Ethical Violations Found During the final stage prior to submitting our application to the client it was discovered that some code, as well as a few of the artwork elements included in the project were utilized without proper permissions from online sources. This required a complete recode to entire portions of the project, as well as to redesign the artwork and visual components. This also required the immediate dismissal of the employees whom perpetrated the violations as is the consequence clearly laid out in the employee handbook which every employee is provided upon their employment. While the client is happy that we identified and resolved the situation prior to providing them with their contracted product, they are understandably less than satisfied due to the delays which this breach caused. Potential effects of this action to Pearson and Watters Inc. could be long lasting. Our very reputation is at stake in any such matter. Not only have we now failed to provide a client with their product in the timeframe which we stated, but that client cannot help but wonder about past and even future projects and whether or not other such breaches were caught. This further effects our company due to having to replace the offending employees rapidly, lost profits due to additional time required to be spent...
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...Memo To: CEO of Company G From: Date: 12/29/2012 Re: Firms Financial Condition A comparison using a horizontal analysis of both the balance sheets and income statements from year 2011 and year 2012 has been completed along with a review of ratios and company trends to provide you with the financial condition of your home centers. After a careful review of the analysis, ratios and trends within the industry the outcome has been determined as followed: The Current Ratio measures a company’s ability to pay its short-term obligation with current assets. In year 12 company G has a current ratio of 1.79. This ratio has declined from last year of 1.86. When compared to the industry quartiles this ratio falls below the first quartile of 3.1 and below the second quartile of 2.1. This would indicate a weakness for the company. This determines the ability you have to pay back your short term liabilities. Monitoring this area to provide improvement is recommended. Sometimes called the quick ratio, this ratio measures a company’s ability to pay its short-term liabilities if they were to come due immediately without selling inventory. In year 12 Company G has a ratio of .43. When compared to last year this ratio has declined from .64. When compared to the industry quartiles this ratio falls below the first quartile of 1.6, above the second quartile of 0.9, and above the third quartile of 0.6. This would indicate a weakness for the company. The inventory turnover measures the amount...
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...Compliance System Training The Compliance System is going to be based on the leadership and firm commitment from the Board of Directors, along with the management team to the highest ethical and compliance standards. It will also include the vision and values set out in the Code of Ethics. The Compliance System will be structured from the following elements: risk management, establishing training and communication plans focusing on the areas on compliance and ethical conduct, and lastly, developing policies and procedures. MEMORANDUM TO: All Managers FROM: Corporate Office DATE: July 18, 2015 SUBJECT: Compliance System Training CC: Board of Directors Description: The System will be structured around the following elements: Risk Management: This process will include identifying, analyzing, and responding to risks factors throughout the entire project and the best interest of the objectives. The company wants to ensure proper risk management that will help control the possibility of future events. Establishing Training and Communication Plans: Training and communication for this project is extremely important. It will take everyone’s effort to come up with a training plan for when the Compliance System becomes available and communication with the user’s to determine if there are any issues that arise. The manager’s will come for a two-day training and are encouraged to ask any questions...
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...CA Bank | To: | | From: | | CC: | | Date: | 6/30/2015 | Re: | Request for Funding to Complete a Business Writing Course | Comments: | In banking, there are many times where employees are expected to write professional emails, letters or memos; whether to customers or bank employees. There are instances where the employee may not understand or know exactly what to write to convey the message professionally. With managing the teller line, the lead tellers often have to respond to other departments and many times they may ask for help in writing the message. With this little knowledge in wiring effectively, a business writing course would be an essential way to help bridge this gap. In this business writing course, there will be much information taught that will help with teaching employees and staff how to effectively write clearly. As the leader, I would be able to take this course and bring the required information back to the team. So, instead of sending multiple individuals for one class; you would only have to send one. I would be able to take this course at University of Louisiana at Lafayette on Thursday nights at 6pm; which will not interfere with day-to-day operations of the bank. Any required writings would be completed on the weekends to insure that I would not need any time off to complete school work. Also, the cost for the program is $1580.00 for 30 credit hours. I understand that this may seem expensive but you will be only sending me compared to sending...
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...Today I spoke with Peaceful Pastures Funeral Home (Peaceful) regarding their request for advice about the accuracy of their audit. They want to know if as an accrual base taxpayer they must report prepaid income in the year it is received or in the year the services are performed. Facts Peaceful Pastures is an accrual basis taxpayer that has recently designed a business plan that allows customers to prepay for their funeral services and products that will be provided to them at the time of their death. The prepayments are refundable at any time until the services are performed and products are used. Peaceful recognizes these prepayments as income in the year the funeral goods and services are provided. Issue Should an accrual basis taxpayer record prepayments as income in the year they are received or in the year the goods and services are provided? Conclusion Peaceful does not have to recognize the payments for their “prepaid services program” as income in the year they are received because they are fully refundable until the date the goods and services are provided. Analysis Peaceful’s situation is similar to the case COMM. v. INDIANAPOLIS POWER & LIGHT CO., Cite as 65 AFTR 2d 90-394 (110 S.Ct.589), 01/09/1990, Code Sec(s) 61, where the tax court ruled that the prepayments principal purpose is to serve as security rather than a prepayment of income. Since all prepayments to Peaceful were deemed refundable, they too serve as security rather than income....
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...ajkushwahaPASSIVE VOICE PV 4 Change the sentences to passive voice. 1. Many people begin new projects in January 2. You must wash that shirt for tonight’s party. 3. Mum is going to prepare the food. 4. They make shoes in that factory. 5. We will have to examine you again. 6. They had finished preparations by the time the guests arrived. 7. The delegation will meet the visitors at the airport. 8. We have produced skis here since 1964. 9. All workers will read the memo. 10. Nobody can beat Tiger Woods at golf. 11. They also speak German at EU meetings. 12. We must look into the question. 13. Someone reads the newspaper to him every day. 14. The Chinese discovered acupuncture thousands of years ago. 15. Has he given you back the book yet? 16. The police locked up the criminals. 17. They must have left the keys behind. 18. The robbers made up the story. 19. The boy is eating the cake. 20. Dad promised by a box of chocolates. 21. The spider scared her. 22. The guide will show us the Natural History Museum in the afternoon. 23. The dentist is cleaning the woman’s teeth. 24. She showed her relatives the new house. PASSIVE VOICE PV 4 Change the sentences to passive voice. 1. Many people begin new projects in January New projects are begun in January. 2. You must wash that shirt for tonight’s party. That shirt must be washed for tonight’s party. 3. Mum is going to prepare the food. The food is going to be prepared by mum. 4. They make shoes in that factory. Shoes are...
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...SATYAM SINGH SECTION C 20141343 BA. LLB. 2014 TO: Faiz Tajuddin FROM: Satyam Singh DATE: September 16, 2015 RE: Robert Langdon v. Springfield College of Law (Lost/Mislaid Wallet) MEMORANDUM Question Presented This memorandum analyses whether Robert Langdon, a construction worker, working at the Springfield College of Law in Cleveland, Ohio, be entitled to the possession of the wallet found on top of a duct behind a wall as the finder of “lost” property or will Springfield be entitled to hold on to the money as being “mislaid”, and keep the recuperated amount once the applicable statutory time has passed? Brief Answer The Court is most likely to rule that the wallet was mislaid property and not lost property. The classification between lost property and mislaid property was established in Benjamin v. Lindner Aviation, Inc. and State Central Bank. “Property is lost when the owner unintentionally and involuntarily parts with its possession and does not know where it is,” whereas “Mislaid property is voluntarily put in a certain place by the owner who then overlooks or forgets where the property is.” There is substantial evidence for the wallet to be classified as mislaid property. The wallet was found on a duct behind a wall, which gives us an indication that that that the owner voluntarily put it there, and it is unlikely that the owner parted with it without the intention of doing so. Furthermore, the location and the manner in which the wallet was hidden,...
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...George Martinez Hum-112 Professor Montgomery Assignment 2 – Office Art Memo George Martinez Hum-112 Professor Montgomery Assignment 2 – Office Art Memo This assignment was right in my corner. Ironically, as Assistant Directors of Operations for my company, I was tasked to do this very assignment a year ago to date. Impressionism can be considered the first distinctly modern movement in painting. Developing in Paris in the 1860s, its influence spread throughout Europe and eventually the United States. The term, first used sarcastically, was derived in part from the title of a painting, Impression, Sunrise (1872, Musée Marmottan-Claude Monet, Paris), by Claude Monet. (nga.gov) The Impressionists loved painting outdoors, the ever-changing face of nature lent itself perfectly to their interests in capturing the moments of light and color. During my search, I choose the route of adding paintings rather than sculptures because the abundant selection of landscapes and patriotism pieces that are very desirable by our CEO Mr. Lee; who is also a New York City, Hamptons native. Mr. Lee has been a huge fan of works of Childe Hassam, because of this I decided to keep the theme throughout the interior of the office common areas and the chose to keep the post impressionist art within inside the executive offices. The three top choices for the impressionist period were selections from Childe Hassam, Flags, Fifth Avenue, Geraniums, and Lower Manhattan. (These selections chosen represent...
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...Toy Company USA| To:|John Johnny, CEO| From:|--- || Date:|7/9/2012| Re:|Constructive Discharge of Former Employee. Research and Response.| Comments:|Following your request to investigate how our company should respond to the recent claim by a former employee under Title VII of the Civil Rights Act of 1964 after our schedule policy change I have made several notes regarding how we should respond to their claim.A. Constructive Discharge: According to an article by the Denver Business Journal a person cannot sue for a constructive discharge. While this statement isn’t completely true, it is very difficult to prove Constructive Discharge, which means that an employee resigns because working conditions are so unpleasant or difficult that a reasonable employee would feel compelled to resign. The employee must provide evidence or notification, in writing, regarding the cause for them choosing to resign and then allow the employer fifteen days to respond, in writing, to those allegations. In order to prove that there was a constructive discharge the employee, or in this case the former employee, must “preponderance of the evidence that the articulated reasons are a pretext for discrimination” as noted in Duffy V. Paper Magic Group Inc. 1988. Also as noted in this case it is very difficult for the former employee to provide evidence that this was the case. In the United States Supreme Court decision in the Pennsylvania State Police V. Suders 2004 it was shown that the former...
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