...NAME: Arthur Sicard PERSONAL DATA: Arthur Sicard was born in Saint-Léonard-de-Port-Maurice, Quebec on December 17, 1876. He died on September 13, 1946 at the age of 70. Canadian inventor, Arthur Sicard invented the snow blower in 1925. CLAIM TO FAME: Business Venture – Sicard Industries The invention consisted of three sections; a four-wheel drive truck chassis and truck motor, the snow scooping section, and the snow blower with two adjustable chutes and separate motor. The snowblower allowed the driver to clear and throw snow over 90 feet away from the truck or directly into the back of the truck and it worked on hard, soft or packed snow. SCOPE: Arthur Sicard is the inventor of Sicard Industries. He had created the snow blower to clear snow from drive ways, sidewalks, etc . SOCIETAL BENEFIT: This invention has helped the well being of many old aged people, people who are always on the go, and is a fast way to clear up snow, help to many citizens of Canada or the United states. RISK TAKEN: Risk taken of this invention is that every year 5740 snow blower-related injuries occurred such as the snow blower blowing up and being over pressured. MOTIVATING FACTORS: Motivating factors is that this venture is all Electric models that produce no emissions at the point of...
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...Many of you have heard the tale of Agapito Flores, Fe Del Mundo, and Daniel Dingel. We’ve all heard the stories of Filipinos making their mark on the world, be it in writing, singing, or inventing. But really, which of them really created their “invention?” Singers, writers, and athletes don’t have to worry about having their achievements stolen from them. Sure, some writers may worry about being plagiarized, but now Publishers are doing their best to watch out for their own writers; attentive professors and teachers are also on the lookout for faked essays. But in inventing, it all depends on the person and the invention. Why? You can easily claim you invented this, but no one will notice until it has become very useful. Even then, many inventors are still unknown. In order to receive claim and royalties from an invention, you must patent it to the government and show it to a noteworthy organization. Alas, there are a lot of “supposed” inventors of certain products. Stealing someone’s idea is as simple as taking it, patenting it, and marketing it to the public. But here, there are a lot of people who claim to have made famous products, yet they are not being recognized. Why? Because they didn’t invent it. Pride is good for a country, but claiming that a countryman invented another person’s product is a bad thing to do. Myths likes this thrive on people who are unaware, and they have gained notoriety after the birth of the internet...
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...Denying or closing out the claims for the Top 9 diagnoses will affect several Departments (areas) within and outside of International Medical Group® (IMG), Inc. The Departments (areas) are below with explanations of how why they could be affected. Operations • The mail volume may increase due to the insured/provider submitting appeal letters and/or claims resubmission. Marketing • Increase in phone calls and emails from brokers/producers due to their increase of phone calls/emails from their client requesting a clearer explanation of the claim denial. • Increase of unhappy broker/producers once they determine IMG is not doing their due diligence in conducting an investigation before denying the claim. Call Center • Increase in phone call volume from the insured/provider requesting a clearer explanation of the claim denial. • Increase in emails from the insured/provider requesting a clearer explanation the claim denial. Claims • Increase in appeal letters due to automatic pre-existing denials. • Increase in the handling of the insured’s claim file. o The Benefit Review Team will respond to the appeal letter. The team member will forward the document to the Team Pre-X to begin the pre-existing investigation. o Team Pre-X mails out medical records requests. o Team Pre-X notifies the claim examiner to reprocess the claims and pend for pre-existing/medical records. International Medical Group® (IMG) • IMG’s reputation could possible change (positive to negative)...
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...ISSUE: Accounting for Fuzzy Dice Inc. acquisition of Tiny Tots Toys LLC related to decision (1) to use purchased facility to enter another business line or (2) renovate the facility to expand the current production. BRIEF BACKGROUND OF COMPANY Fuzzy Dice Inc. (“Fuzzy” or “the Company”) manufactures novelty items that it distributes to wholesalers and large online and direct-mail retailers. Fuzzy operates in an area where several other light manufacturers operate, one of which is Tiny Tots Toys LLC (“Tiny”), an educational children’s toy manufacturer. Tiny has been unable to turn a profit for the past few years and has recently filed for Chapter 11 bankruptcy protection. Tiny’s primary asset is its manufacturing facility. The location and capabilities of this facility are the key reasons why it represents an acquisition target to Fuzzy. However, Fuzzy is undecided on how it should use Tiny’s factory after the acquisition. The Company will either (1) continue to use the facility to manufacture children’s toys and enter another business line alongside its novelty business or (2) renovate the factory in order to expand its novelty item production capacity to grow its current business. Since the acquisition will be structured as an asset purchase rather than a stock purchase, Fuzzy will not assume the employment relationships with the Tiny employees. In both scenarios, Fuzzy expects to hire all the current Tiny employees; however, the Company believes its current workforce is...
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...Case 13-07 Facts: Fuzzy Dice Inc. manufactures novelty items that it distributes to wholesalers and large online and direct-mail retailers. Because of the bestselling new products, Fuzzy is having a record-breaking year and is holding a large amount of cash on its balance sheet. Fuzzy operates in an area where several other light manufacturers operate, one of which is Tiny Tots Toys LLC (“Tiny”), an educational children’s toy manufacturer. Tiny has been unable to turn a profit for the past few years and has recently filed for Chapter 11 bankruptcy protection. Tiny’s primary asset is its manufacturing facility. The location and capabilities of this facility are the key reasons why it represents an acquisition target to Fuzzy. However, Fuzzy is undecided on how it should use Tiny’s factory after the acquisition. The Company will either (1) continue to use the facility to manufacture children’s toys and enter another business line alongside its novelty business or (2) renovate the factory in order to expand its novelty item production capacity to grow its current business. Since the acquisition will be structured as an asset purchase rather than a stock purchase, Fuzzy will not assume the employment relationships with the Tiny employees. In both scenarios, Fuzzy expects to hire all the current Tiny employees; however, the Company believes its current workforce is capable of operating the Tiny facility if necessary. Issues: 1. If Fuzzy decides to operate the factory in its current...
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...MEMORANDUM To: From: RE: 13-07 Definition of a Business Facts There are two different companies involved in this case, Fuzzy Dice a manufacturer of novelty items and Tiny Tots Toys a manufacturer of children’s toys. Recently, Tiny has faced financial hardship and has thus decided to sell its assets to Fuzzy. This asset acquisition will include the manufacturing facility and all of the equipment, delivery vehicles, licenses, and patents. Fuzzy would like to utilize the new facility in one of two ways. First, they may choose to enter a new line of business by continuing to use it for making toys. Alternatively, they may refurbish the factory in order to increase its novelty item production and expand its current business. Issues and Alternatives The following issues pertain to the case: • According to ASC 805, if Fuzzy continues to use the newly acquired factory for making toys, will it be accounted for as an acquisition of a business or an acquisition of assets? • If Fuzzy intends to use it for making novelty items (its current business) instead, will this change the accounting for it under ASC 805? • What would the effect of IFRS be on this transaction if the acquisition is structured through Fuzzy’s foreign subsidiary? Would the foreign subsidiary record it as an acquisition of business or a group of assets? Authoritative Literature and Conclusion It is important to determine whether the transaction is a business combination or an asset acquisition for...
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...The Cupid Shuffle Instructions 1 Step to your right four times, sliding your body with every step, in time to the lyrics "To the right, to the right, to the right, to the right." 2 Step to the left four times, sliding your body with every step, in time to the lyrics "To the left, to the left, to the left, to the left." 3 Kick your right foot out onto its heel and then kick your left foot out onto its heel, alternating the feet for a total of four times to the lyrics "Now kick, now kick, now kick, now kick." 4 Walk in place slowly while twisting your body a quarter turn to the left to the lyrics "Now walk it by yourself." 5 Repeat all four steps throughout the duration of the song. The Hokey Pokey Instructions 1 Gather several people into a group and form a circle. 2 While singing the "Hokey Pokey" song, follow the directions. 3 Put your left leg into the circle. 4 Put your left leg out behind you. 5 Put your left leg in again and shake it all about. 6 Put your elbows at your sides with your hands about shoulder height and do the hokey pokey, turning clockwise in a circle and alternately raising your hands a few inches. 7 Stop turning and clap your hands while singing, "That's what it's all about." 8 Repeat the entire dance, but change the body part to your right leg, then left arm, followed by your right arm, head, and finally your backside. The Wobble Instructions 1 Begin by shaking your hips to the beat, in order to feel the rhythm of the music...
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...rights over any person who is outside their jurisdiction. If, however, a person is within another state for a short period of time it would put that person under the jurisdiction of that government. In this case, Funny Faces is contracted through Novelty Now, Inc. who takes care of the manufacturing and distribution operations and ensures that everything runs smoothly and efficiently for the Funny Faces products. This would make Novelty Now responsible for any of Funny...
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...Week 3: Market Segmentation Analysis and a Value Proposition Professor: Mark Stollar Brand: Louis Vuitton Harshal Panchal Caiyi Han Mita Zaman Date: September 14, 2015 Brief Description of the proposed retail brand concept The brand Louis Vuitton was established in 1854 in a French based fashion house. Since its birth, it has become one of the most recognizable brands in the world. Louis Vuitton is known mostly for their leather accessories- purses, luggage, shoes, etc.; but has expanded to clothing, sunglasses, and pet accessories as well. The brand is geared towards consumers who have disposable income mainly because the products offered are considered high-end luxury items. You can find Louis Vuitton within high-end retail shops like Barney’s and Saks Fifth Avenue, and also free standing Louis Vuitton stores. Within the last twenty years, the brand has opened its market to the online community where customers can find more products on their website for purchase. The product category that accounts for most of consumers’ brand awareness is that of designer handbags. Each designer bag is made of high quality materials with all or some elements hand stitched by craftsmen, thus contributing to their fine workmanship and premium prices. According to the Louis Vuitton website, the company’s mission statement is as follows: “The mission of the LVMH group is to represent the most refined qualities of Western "Art de Vivre" around the world. LVMH must continue...
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...ACCOUNTS PAYABLE- PROCESS * Invoices relating to Projects and Facility as well as utilities are received at the Head Office (HO). * Accounting for the invoice is done taken into consideration the party on whose behalf will the Head Office be paying. * Head office expenses: * Expenses related to the Head Office, e.g.: Pantry expenses, maintenance of the HO, etc. are booked directly in the books of the Head Office as follows: ACCOUNTS | BUSINESS UNIT CODE | Expense a/c- Debited-Lals Central Warehouse- Ghusais/ Lals International FZCO | 910/1013 | Vendor a/c- Credited/Staff Accommodation | 1012/ 980 | * Intercompany Expenses: * Expenses relating to various divisions of the group (but not the Associates and Joint-Ventures) are accounted as follows: IN HO BOOKS: ACCOUNTS | BUSINESS UNIT CODE | GL ACCOUNT NO: | ACCOUNT NO: | Expense a/c- Debited | 1014 | | | Accounts Payable other a/c- Credited | 1012 | 422000 | | IC a/c- Debited | Respective code-diff | 298000 | | Expenses a/c- Credited | 1014 | | 001 | In the books of Divisions: | | | IC Partner code: | Expense a/c- Debited | | | | Intercompany Accounts Receivable a/c- Credited | Respective code- diff | 298000 | 001 | * Joint Venture/ Associate Expenses: * Expenses related to the Joint-Ventures/ Associates of the group are accounted as follows: ACCOUNTS | GL A/C NO: | Due from related parties- Debited | 291000 | Accounts Payable- Other Credited | | ...
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...Corporation In early 1991, Reynolds Metals, the makers of Aluminum Foil and other aluminum products, decided to sell its holding of Eskimo Pie, a marketer of branded frozen novelties. Reynolds had few interests outside its aluminum and packaging business, and the Eskimo Pie Corporation, with roughly $47 million in sales, accounted for less than 1% of Reynolds revenues. Reynolds planned to use the proceeds from the sale of Eskimo Pie to fund investments in its core aluminum business. Eskimo Pie was 84% owned by Reynolds Metals, and 4% owned by the Reynolds Foundation. The remaining 12% of the Eskimo Pie was held by various Reynolds family members and a small group of outside investors. Goldman Sachs, a New York investment banking firm, was retained to assist with the sale of Eskimo Pie. Goldman estimated that the sale price of Eskimo Pie would be about 1.2 times 1990 sales, or about $57 million. Nestle Foods paid a comparable multiple for Drumstick, another ice cream novelty company, in 1990. Goldman organized an auction for Eskimo Pie, and Nestle was the highest of six bidders with a price of $61 million. Mr. David Clark, President of Eskimo Pie Corporation, recognized that the sale of Eskimo Pie to Nestle would mean the end of its independence. Nestle was likely to consolidate its ice cream novelty businesses by eliminating Eskimo Pie’s headquarters and management staff. He had struggled to find a way to keep the company independent since he first learned of the sale...
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...Advanced Corporate Finance Professor Manuela Athayde Marques TA Professor Ana Carolina Mota Group Project Introduction Eskimo Pie was a well known brand of frozen novelties in the early 1990’s. As many companies in its stage, Eskimo Pie decided to explore growth opportunities by going public. The aim of this report is to present Eskimo Pie’s business and its historical background in the first and second sections. The third and forth sections illustrate a historical and financial analysis of the frozen novelty industry. The last section refers to the different alternatives that Eskimo Pie has to go public. Historical Background Innovative ideas can start with day-to-day needs and Christian Nelson was able to spot one. When working in a confectionery store, Nelson was confronted by a little boy’s indecision between a chocolate bar and a scoop of ice cream. The idea of combining the two products gave birth to America’s first chocolate-covered ice-cream bar. In 1921 Christian Nelson commercialized his innovation under the name of “IceScream-Bar”. One year later, Eskimo Pie brand name resulted from a partnership with Russel Stover, who later exited the company in 1923. This partnership was beneficial in many ways: the creation of a mechanism to collect royalties and the design of a glamorous tin foil wrapper manufactured and supplied by the U.S. Foil Company. Despite of its success and the increase in sales, Eskimo Pie Corporation was not financially sustainable...
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...$74 billion by 2018. Favorable demographic factors, rising consumer disposable income, and consumer's awareness toward frozen dessert mainly drive the demand. The retail ice cream industry includes retail sales of classic ice creams and frozen novelties. Classic ice cream includes special ice cream such as low-fat and non-fat, take home, and bulk ice creams. Frozen novelties include flavored ice, sorbet, and frozen yogurt. The industry is moderately capital-intensive as large numbers of players are competing with each other to maintain their place in the market. The classic ice cream segment contributed approximately 80% in global retail ice cream industry in 2012, whereas Nestle and Unilever, the two largest players captured one-third of the total market. New product development and innovation plays an important role as a growth driver for industry. Maintaining price and quality, brand loyalty, and consumer group retention are the biggest challenges for industry due to the large number of competitors in the market. This research indicates that in the future, innovative flavors in ice cream products with focus on health improvement will increase the per-household consumption, thus reflecting an increase in demand. Frozen novelties are forecast to witness strong growth during the next five years. U.S. ice cream and frozen dessert sales topped $25.1 billion in 2011, up 2.4% over the previous year, representing a small upswing after two years of flat sales, according to a...
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...Problem formulation In this assignment we want to answer some questions regarding the product development of B&O automotive. − What process was used to develop the first automotive sound system? − What process is used in order to create new product development after they’ve become established in the market? − How does the commercialization process chosen by B&O automotive fit the novelty picture given by figure 9.5 − How has B&O automotive used strategy optimize adoption of their technology to the market? − Is it possible, with the theory in chapter 9, to analyze the services that they provide to their customers? B&O automotive Analysis In section 9.1 of the chapter, Tidd and Bessant explain about the processes that need to be followed to develop a new product. They show different models of processes such as the stage-gate process and the development funnel method - However they warn the reader about how this models attempt to explain the whole process of development of a new product in a simple and linear way. They state: “However, in practice the development of new products and services is inherently a complex and iterative process, and this makes it difficult to model for practical purposes.” This does not mean that we should not consider any of these models; however, we should be careful not to force the process to fit exactly with the model. In response to this, Tidd and Bessant propose a simplified model with only four stages: concept generation, project assessment...
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...Paul Berro Accounting 473, Case 1 1-25-16 Fuzzy Dice INC. is a company that manufactures novelty items that are under high demand. Tiny Tots Toys produce educational toys for children and have filed for bankruptcy. Fuzzy INC would like to acquire all of the assets from Tiny Tots Toys but they do not know what to do with the factory after. They are thinking of refurbishing it and manufacturing novelty items. This is what happens in the business world; you buy and you sell, and once you get in trouble you try to bail out. In my opinion, the definition of a business is an entity that has three elements; inputs, processes, and outputs. Under ASC 805-10-55-4 “A business consists of inputs and processes applied to those inputs that have the ability to create outputs. Although businesses usually have outputs, outputs are not usually required for an integrated set to qualify as a business. The three elements of a business are defined as follows, an input is any economic resource that creates or has the ability to create, outputs when one or more processes are applied to it. An example of that would be long lived assets. A process is any system, standard, protocol, convention, or rules that when applied to input or inputs has the ability to create outputs. An example of that would be operational processes or resource management processes. An output is defined as the result of inputs and processes applied to those inputs that provide or have the ability to provide a return in the...
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