...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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...KPMG Three Little Pigs Inc. Solution KPMG Three Little Pigs Inc. Solution Several factors including increased supply have caused declining prices for live hogs on the spot market. Also as shown bellow futures prices will remain below the carrying cost for live hogs until nearly the end of the fiscal year. However processed pork products such as bacon, loins, and ham remain above the current cost of production. Three Little Pigs Inc. is capable of processing hogs into these products internally at some locations. Unfortunately, not all hogs can be transported and processed at the main processing plants and must be sold as live hogs to third parties at spot market prices. There are four potential alternatives for dealing with the possible need to impair the value of Three Little Pigs Inc.'s inventories. Alternative 1: Continue to carry all inventories at cost basis. ARB28, Par.14c ?Such temporary market declines need not be recognized at the interim date since no loss is expected.? EITF, 86-13 Discussion ?? option 28 requires inventory be written to lower of cost or market unless (1) substantial evidence exists that market prices will recover before the inventory is sold? Write down is generally required unless the decline is due to seasonal pricing fluctuation.? ARB43, Ch.4, Par.9 ?Where evidence indicates that cost will be recovered with an approximately normal profit upon sale in the ordinary course of business, no loss should be recognized...? If it can be...
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...To: Farmer Joe, CEO, Three Little Pigs, Inc. (PIGS) From: Accounting Consultant Subject: Assessment of Impairment Date: January 1, 2003 I. Facts During this fiscal year, with the capture of the Big Bad Wolf, there is an increase of supply of pork and the market price of pork is on the decline. Although the market price for hogs is forecasted to stabilize within the year, Three Little Pigs, Inc. (PIGS) is dealt with the dilemma of whether they should impair their inventory of hogs, effective September 30, 2002. With three categories of hog inventory (live hogs for sale, developing animals, and processed pork products), PIGS is only considering to impair their inventories of live hogs and developing animals to be sold to third parties at market prices. Concerning processed pork prices, they are believed to be sufficient to cover production costs. II. Issues Management refuses to write off their inventory as they believe future stabilized prices will cover the losses from the previous quarters. However, specific scenarios must be evaluated to decide what the best solution is for PIGS to efficiently report their inventory. The issue is whether impairment should exist at September 30, 2002. If impairment shall exist, the question remains whether the impairment would be evaluated under the lower cost or market method on a total inventory basis, category basis, end product basis, or on an individual basis. If deemed necessary to impair, PIGS will need to determine...
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...Accounting 381 Project 2: Three Little Pigs Case Study (15 points) Due: Thursday, March 11 (at beginning of class). Also, please be prepared to discuss the case and your group’s solution in class on this date. Groups: Please work in groups of 3-5 students (submit 1 discussion per group). You may select your own groups. Please contact me if you are having difficulty finding a group. Required: First, prepare a discussion outlining the alternatives for determining whether inventory impairment exists in the Three Little Pigs case. Second, if the company determines that an impairment of inventory is necessary, prepare a discussion outlining the alternatives for determining whether the impairment should be recognized in an interim period. Relying on the applicable guidance, discuss the appropriate way for Three Little Pigs to evaluate and recognize inventory impairment. Your discussion should include cites to the applicable guidance and how it applies to Three Little Pigs’ transactions. Your discussion should be no more than 3 pages in length. Applicable Professional Pronouncements: • ASC 270, Interim Reporting (Accounting Principles Board Opinion 28, Interim Financial Reporting) • ASC 330, Inventory (Accounting Research Bulletin 43, Restatement and Revision of Accounting Research Bulletins (ARB 43) as amended by FASB Statement No. 151, Inventory Cost. and Emerging Issues Task Force 86-13, Recognition of Inventory Declines at Interim Reporting Dates...
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...Ever since the beginning of human race, education played a paramount role in people’s life, however, only few were allowed to have outstanding education while the majority had to be employed in low-paying jobs due to lack of education. The Animal Farm, by George Orwell, opens with Old Major, a benevolent pig in Manor Farm, sharing his message about a rebellion against the egotistical human beings, which three intelligent pigs—Snowball, Napoleon, and Squealer—pass on by organizing the Animalism. Although the rebellion breaks out successfully and the farm name changes to “Animal Farm”, things go sordid when Snowball is sent into an exile and Napoleon takes the leadership. Numbers of tragic events occur under Napoleon’s atrocious leadership and...
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...on a farm somewhere in England. The story is told by an all-knowing narrator in the third person. The action of this novel starts when the oldest pig on the farm, Old Major, calls all animals to a secret meeting. He tells them about his dream of a revolution against the cruel Mr Jones. Three days later Major dies, but the speech gives the more intelligent animals a new outlook on life. The pigs, who are considered the most intelligent animals, instruct the other ones. During the period of preparation two pigs distinguish themselves, Napoleon and Snowball. Napoleon is big, and although he isn't a good speaker, he can assert himself. Snowball is a better speaker, he has a lot of ideas and he is very vivid. Together with another pig called Squealer, who is a very good speaker, they work out the theory of "Animalism". The rebellion starts some months later, when Mr Jones comes home drunk one night and forgets to feed the animals. They break out of the barns and run to the house, where the food is stored. When Mr Jones sees this he takes out his shotgun, but it is too late for him; all the animals fall over him and drive him off the farm. The animals destroy all whips, nose rings, reins, and all other instruments that have been used to suppress them. The same day the animals celebrate their victory with an extra ration of food. The pigs make up the seven commandments, and they write them above the door of the big barn. They run thus: 1. Whatever goes upon two legs is an enemy...
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...dream is about how the earth will be, when there no man is. He sings a song that came back from his childhood in the dream, It’s called ‘’Beasts of England’’. All the animals sing the song. The meeting stops that Mr. Jones shoots after the barn, because he thought there was a fox, and that was the reason of the noise from all the animals. Characters: Mr. Jones Drunk Mrs. Jones The old Major (Boar) The three dogs – Bluebell, Jessie and Pincher. Two Cart-horses – Boxer and Clover Clover is a motherly mare, got four foals. Boxer is a big and strong cart horse, but he is not very smart. 18 years old. Caring – gentle giant. The Goat – Muriel The donkey – Benjamin. The oldest animal on the farm. Miserable, cynical, devoted to Boxer. Mare – Mollie Foolish, white and pretty. The Raven – Moses. Is tame. Chapter 2 Old Major dies three days later. The animals set out to prepare for the rebellion. The pigs, being the most intelligent animals on the farm, take the lead on this. The task of working Old Major’s ideas into a more formal system falls to three pigs, Napoleon, Snowball and...
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...Factory Farming Abstract Factory farming is the mass production of pigs, chickens, turkeys, and cows to be slaughtered and made into food. Many activists and organizations have attempted to reduce the problem of factory farming, but it is still a long way from being fixed. Factory farms are used to produce everyday products like bacon, pork, steak, chicken nuggets, milk, cheese, etc. The cost of buying a burger at a local McDonalds is around one to three dollars. If companies were forced by legislation and government officials to practice proper farming techniques, the price of your beloved McDonald’s hamburger will be sure to rise. This could cause a brief stage of net losses for food manufacturing companies. I think it is mandatory to incur these extra expenses for the sake of humanity and animal rights. A small loss in profits is far less important than the pain and suffering these animals have to deal with on a daily basis. In this research paper I will discuss the ethical dilemmas and the conditions of the factory farms, as well as solutions to the problem of animals not having the proper rights. Main Points Animals come in all different shapes and sizes. Society debates how to classify some animals. Scientist view animals as operating equipment. Businessmen see them as commodities. Religious advocates classify them as God’s gift to us. And the majority of Americans see them as food. In America we cannot keep our minds off of cheap tasty...
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...Snowball’s condensation of the Seven Commandments of Animalism, which themselves serve as abridgments (abbreviations) of Old Major’s stirring speech on the need for animal unity in the face of human oppression. The phrase instances one of the novel’s many moments of propagandizing, which Orwell portrays as one example of how the elite class abuses language to control the lower classes. Although the slogan seems to help the animals achieve their goal at first, enabling them to clarify in their minds the principles that they support, it soon becomes a meaningless sound bleated by the sheep (“two legs baa-d”), serving no purpose other than to drown out dissenting opinion. By the end of the novel, as the propaganda needs of the leadership change, the pigs alter the chant to the similar-sounding but completely antithetical “Four legs good, two legs better.” 2. Beasts of England, beasts of Ireland, Beasts of every land and clime, Hearken to my joyful tiding Of the golden future time. These lines from Chapter I constitute the first verse of the song that Old Major hears in his dream and which he teaches to the rest of the animals during the fateful meeting in the barn. Like the communist anthem “Internationale,” on which it is based, “Beasts of England” stirs the emotions of the animals and fires their revolutionary idealism. As it spreads rapidly across the region, the song gives the beasts both courage and solace on many occasions. The lofty optimism of the words “golden future time,”...
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...produce food and renew its resources, veganism is becoming more and more popular because it is considered to be a conscientious way of life. For some it is for religious and personal reasons, for others it has to do with the fair treatment of animals. In any case, those whose diet has been traditionally meat-based, the vegan lifestyle is a responsible, choice for very legitimate reasons. Think about where the animal products you consume come from? You are probably picturing grassy farmlands with cows leisurely walking around, pigs happily rolling around in the mud, and coops filled with chickens cozily laying eggs, right? Wrong. These farms rarely exist today. Instead, cows are kept pregnant to continuously produce milk, pigs are kept in windowless concrete cages, and 250,000 hens are piled in one building to lay their eggs. This is what is known as a factory farm. Factory farms are overcrowded filled with terrified, suffering animals. These conditions are unacceptable. By eating meat and dairy products, or purchasing leather or fur, you are supporting these factory farms and their poor conditions. In order to stand up to the industry, we must choose a better, more ethical way of living. As mentioned earlier the three main reasons a person may become a vegan are, personal health, environmental, and for the animals. Let’s start by taking a look at the health benefits of a vegan diet. According to Dr. Joel Fuhrman, an American board-certified physician who specializes in nutrition...
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...Tristin O’Neil Ms. Judnitch 28 April 2014 Unit 4 Final Argumentative Essay Feminine Beauty vs. Masculine The Other Side of Double Standards: a Normative Critique It’s everywhere. It’s on television, in movies, in magazines, on billboards, in social media. Everywhere a person looks they find the objectification of women, the socially unacceptable unrealistic standards for women, and the so-called “fat-shaming” of the female gender. However, all people know the argument against such sexist conduct. People dispute the issue over Facebook, blog journals, and even scholarly articles. Dove, the huge lotion, body wash, and shampoo conglomerate has their own “Love Your Body Campaign” which features average women in their ads. Now, this is fantastic that females can battle against how they are represented in media, but most people never consider that the same exact thing happens to men. Amanda Marcotte from Slate.com shows how the double standard is prominent with an example from a response to one of her articles about a relationship. Oh, and there’s a new thought: a double standard with the males on the downside? I don’t think many people have really considered or even heard one of those before. A more known topic is the pressuring of children of both genders into traditional gender roles. Many people admonish the pressuring of girls into their roles, but pressuring boys is also a problem. Paul Theroux talks of this in his essay “Being a Man.” Media makes men out to be just as unrealistic...
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...The Cuban Missile Crisis: Reading the Lessons Correctly Author(s): Richard Ned Lebow Source: Political Science Quarterly, Vol. 98, No. 3 (Autumn, 1983), pp. 431-458 Published by: The Academy of Political Science Stable URL: http://www.jstor.org/stable/2150497 Accessed: 10/11/2008 23:45 Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at http://www.jstor.org/action/showPublisher?publisherCode=aps. Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printed page of such transmission. JSTOR is a not-for-profit organization founded in 1995 to build trusted digital archives for scholarship. We work with the scholarly community to preserve their work and the materials they rely upon, and to build a common research platform that promotes the discovery and use of these resources. For more information about JSTOR, please contact support@jstor.org. The Academy of Political Science is collaborating with JSTOR to digitize, preserve...
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...The Cuban Missile Crisis: Reading the Lessons Correctly Author(s): Richard Ned Lebow Source: Political Science Quarterly, Vol. 98, No. 3 (Autumn, 1983), pp. 431-458 Published by: The Academy of Political Science Stable URL: http://www.jstor.org/stable/2150497 Accessed: 10/11/2008 23:45 Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at http://www.jstor.org/action/showPublisher?publisherCode=aps. Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printed page of such transmission. JSTOR is a not-for-profit organization founded in 1995 to build trusted digital archives for scholarship. We work with the scholarly community to preserve their work and the materials they rely upon, and to build a common research platform that promotes the discovery and use of these resources. For more information about JSTOR, please contact support@jstor.org. The Academy of Political Science is collaborating with JSTOR to...
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...The New Astrology by SUZANNE WHITE Copyright © 1986 Suzanne White. All rights reserved. 2 Dedication book is dedicated to my mother, Elva Louise McMullen Hoskins, who is gone from this world, but who would have been happy to share this page with my courageous kids, April Daisy White and Autumn Lee White; my brothers, George, Peter and John Hoskins; my niece Pamela Potenza; and my loyal friends Kitti Weissberger, Val Paul Pierotti, Stan Albro, Nathaniel Webster, Jean Valère Pignal, Roselyne Viéllard, Michael Armani, Joseph Stoddart, Couquite Hoffenberg, Jean Louis Besson, Mary Lee Castellani, Paula Alba, Marguerite and Paulette Ratier, Ted and Joan Zimmermann, Scott Weiss, Miekle Blossom, Ina Dellera, Gloria Jones, Marina Vann, Richard and Shiela Lukins, Tony Lees-Johnson, Jane Russell, Jerry and Barbara Littlefield, Michele and Mark Princi, Molly Friedrich, Consuelo and Dick Baehr, Linda Grey, Clarissa and Ed Watson, Francine and John Pascal, Johnny Romero, Lawrence Grant, Irma Kurtz, Gene Dye, Phyllis and Dan Elstein, Richard Klein, Irma Pride Home, Sally Helgesen, Sylvie de la Rochefoucauld, Ann Kennerly, David Barclay, John Laupheimer, Yvon Lebihan, Bernard Aubin, Dédé Laqua, Wolfgang Paul, Maria José Desa, Juliette Boisriveaud, Anne Lavaur, and all the others who so dauntlessly stuck by me when I was at my baldest and most afraid. Thanks, of course, to my loving doctors: James Gaston, Richard Cooper, Yves Decroix, Jean-Claude Durand, Michel Soussaline and...
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...www.it-ebooks.info MapReduce Design Patterns Donald Miner and Adam Shook www.it-ebooks.info MapReduce Design Patterns by Donald Miner and Adam Shook Copyright © 2013 Donald Miner and Adam Shook. All rights reserved. Printed in the United States of America. Published by O’Reilly Media, Inc., 1005 Gravenstein Highway North, Sebastopol, CA 95472. O’Reilly books may be purchased for educational, business, or sales promotional use. Online editions are also available for most titles (http://my.safaribooksonline.com). For more information, contact our corporate/ institutional sales department: 800-998-9938 or corporate@oreilly.com. Editors: Andy Oram and Mike Hendrickson Production Editor: Christopher Hearse Proofreader: Dawn Carelli Cover Designer: Randy Comer Interior Designer: David Futato Illustrator: Rebecca Demarest December 2012: First Edition Revision History for the First Edition: 2012-11-20 First release See http://oreilly.com/catalog/errata.csp?isbn=9781449327170 for release details. Nutshell Handbook, the Nutshell Handbook logo, and the O’Reilly logo are registered trademarks of O’Reilly Media, Inc. MapReduce Design Patterns, the image of Père David’s deer, and related trade dress are trademarks of O’Reilly Media, Inc. Many of the designations used by manufacturers and sellers to distinguish their products are claimed as trademarks. Where those designations appear in this book, and O’Reilly Media, Inc., was aware of a trade‐ mark claim, the...
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