...ADMS 4520 Assignment # 2 Muhammad Choudhary Student # 211085552 Section C Haran Alagarajah Student# 211337797 Section A Handed into: Patricia Farrell Submitted on: October 2nd, 2013 Case: 2-1 To: Fabio & Fox Chartered Accountants Introduction: Wonder Amusements Limited (WAL) is a company that was incorporated as an amusement park and golf courses. Recently WAL invested into a sports franchise which has caused the relocation of parts of the business. Objective: A meeting with the chief executive officer (Leo Titan) has shed some light on possible accounting and audit practises that need to be looked at. There are notes that was taken during the meeting with Leo and observations which will be further analyzed. The appropriate reporting method used in the following analysis will be IFRS. Users/Stakeholders: There a many potential users of the financial statements prepared by WAL and they are: -Leo Titan – CEO, WAL - owners of, NSL - owners of, -Minority shareholders invested in WAL And NSL, Fabio and Fox accountants - they are audit partners, External users of the financial statements (such as potential investors), the government (many accounting issues that could violate standards). Analysis: First of all after the review of documents and as a result of various conversations there are a few issues that need to be addressed. The first issue is lenders to the arena are concerned that the arena could not generate special-use revenue and in turn risk...
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...Group 1 6 May 2013 Leader: Sylvia Members: Bless Alex Cassian Anna A Group Report on The Walt Disney Company Behind the Disney World: The ‘Imaginers’ * 1. Company Overview 3 2. Disney History 4 A. General history 4 B. The history of Hong Kong Disneyland 4 C. The partner of Hong Kong Disneyland 5 The investment partner is only Hong Kong Government. 5 D. The history of Shanghai Disneyland 5 3. The Corporate Strategy 6 4. Comparative analysis between Disneyland Shanghai and Happy Valley 6 A. General introduction about Happy Valley 6 B. Theme story 7 C. Theme hotel 7 D. Revenue model 7 E. Government support 7 5. Conclusions 7 * Company Overview The monarch of this magic kingdom is no man but a mouse --Mickey Mouse. The Walt Disney Company is the world's largest media conglomerate, with assets encompassing movies, television, publishing, and theme parks. Its Disney/ABC Television Group includes the ABC television network and 10 broadcast stations, as well as a portfolio of cable networks including ABCFamily, Disney Channel, and ESPN (80%-owned). Walt Disney Studios produces films through imprints Walt Disney Pictures, Disney Animation, and Pixar, and its Marvel Entertainment is a top comic book publisher and film producer. In addition, Walt Disney Parks and Resorts operates the company's popular theme parks including Walt Disney World and Disneyland The Company is with five business segments: media...
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...Book Review: Are Men Necessary? By Maureen Dowd Many books on the market discuss the differing nature of the sexes. Conventional wisdom indicates that a man asked how to get someplace that he will give directions laced with compass points, tenths of miles, and street names. The same conventional wisdom indicates that a woman, asked for the same information, will give directions that contain landmarks, usually followed by the warning that “if you see [fill in the blank] then you’ve gone too far.” I chose Dowd’s book due to her approach to this age-old issue. She discusses this dichotomy using sharp wit, which seemed appealing. Her work leaves many readers laughing at her observations, many of which were broad enough to be perceived as parodies. Her humor, however, has an edge to it. This paper will examine Dowd’s use of humor in the text and how that humor retains the reader’s interest in what she has written. The Nature of Humor Something is humorous if it is perceived as being funny. Something is ‘funny’ if it is found to be amusing, something that might make the average person laugh. Humor is often used to bring an intended audience together. Maureen Dowd brings her readers together by allowing them to share in the absurdity of what she has written. When she writes about powerful women "los[ing] altitude at Oxygen" and getting "evicted from Barbie's dream house" (104) she brings with these criticisms with easily understood images with the power to make the reader...
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...Dubai, the pearl of the Middle East, home to the tallest building in the world, the biggest shopping malls, the largest man made islands, the first underwater hotel and the biggest amusement park in the world. Visiting Dubai for the first time is always a shocking experience for any one; no matter how many cities you have visited or how many skylines you have seen, the image of the skyline of Dubai at night will always take your breath away, the food of this city will always leave you craving for more, and no matter how much time you allocate for your first adventure in Dubai, you will never be able to say that you have seen all of what this amazing city has to offer. I know this for a fact because I was raised in Dubai and spent almost my whole childhood there, and still to this day I take every chance I get to visit it and experience all the new things this city has to offer me. The best part of growing up in Dubai, is that I can say I was there, I saw it all come together and happen in front of my eyes. Although, when I first came to Dubai in the begging of the 90’s,it wasn’t the unique city of Dubai. On the contrary, it was a simple costal city, no different that its sister cities Abu Dhabi and Sharjah, it did not even have a functioning sewer system, the malls were much bigger than the ones in Amman at the time, but not bigger than the malls in other gulf cities, and the source of money that Dubai city generated came from oil. But that didn’t stay for long and changes start...
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...Financial Comparison 6 Financial Challenges 7 Financial Opportunities 9 Financial Ratios 14 Summary 16 Financial Statements 17 Works Cited 22 Abstract Six Flags headquarters in New York, owned and operates a chain of amusement and theme parks throughout the US. Since 2001, the company had posted annual losses in the billions. It was cited that heavy expansion and improper marketing insight were the causes for the losses. So in order to revive back its position, the new management took several initiatives to turnaround Six Flags. There was a mixed reaction in the industry and analysts that restructuring would be a costly affair. This research focuses on the turnaround at Six Flags. Pedagogical Objectives: * To discuss about how theme parks were performing in the US. * To understand the background of Six Flags and its turnaround plan. Background Six Flags was founded by Angus Wynne in 1961. The first Six Flags was located in Texas; it now has 19 parks across the United States, Mexico and Canada. The name Six Flags was taken from its first property where six countries flags flew over Texas during the state’s history. The first Six Flags was called Six Flags Over Texas. Six Flags has become the world’s largest amusement park, based on the quantity of properties. Six Flags offers its guest an affordable, thriving experience to enjoy with their friends and families. “The inventive theming afforded guests a chance to experience places and times that previously...
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...aggression easier. Our young generation is so much affected and influenced by those channels that they are trying to practise what they see on the television screen. So from my point of view, Indian cultural practices are now turning as a threat rather than mere source of amusement. Some Concrete Facts of Indian forms of Culture: Indian films, for instance, are now at the epicenter of the culture wars. They are corrupting our youth. There are about ten Indian channels, showing movies and movie songs round the clock. We are quite stunned at many of the shows in Indian TV channels that are apparently for children. The Indian channels are full of contests when ten year old girls are dressed up and made up like Bollywood actresses, rotating to some hit Hindi songs, making all those suggested moves in front of thrilled audiences and approving panel of judges. Then, there are singing contests where again, little boys and girls sing out their hearts some vulgar Hindi songs. We also find the identical shows in our own channels with the same ridiculous dance sequences performed by pre-teens, wearing layers of makeup and making moves that would put any Dhaliwood film extra to shame. Where are the children, we begin to wonder. Oh No! They have been replaced...
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...Marvel Entertainment: Marvel Studios Amy J. Keller June 28, 2009 This case study focuses on the Marvel Studios franchise. Marvel Entertainment took a huge risk when it decided to stop licensing its’ characters to outside production companies and develop their own in-house productions via Marvel Studios. This study focuses on the history of Marvel Studios and what harm or benefit has come from the creation of Marvel Studios and the expansion into filmmaking. Biography/History Marvel Entertainment, Inc. is a prominent character-based entertainment company that is worldwide. The have a collection of 5,000 characters that cover a 70-year company span and sever media types (comics, toys, movies, et cetera). “Marvel’s strategy is to leverage its franchises in a growing array of opportunities around the world, including feature films, consumer products, toys, video games, animated television, direct-to-DVD and online” (Viacom). Marvel Studios mission is to “develop and manage entertainment projects that leverage Marvel’s vast universe of creative content” (Marvel.com). Throughout the 1970s and 1980s, Marvel had licensed out a number of their characters for movies and direct-to-TV productions. Very few of these are remembered today. One that you might recall is Howard the Duck; it didn’t do so well in the box office. The reasoning behind such failures was the lack of research the company put into it’s licensing (Stax). Marvel Studios...
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...After reading Nickel and Dimed by Barbara Ehrenreich and watching the documentary Roger and Me, it’s easy to compare the desperation the people seem to have in both of these circumstances. Barbara Ehrenreich wrote Nickel and Dimed to demonstrate the desperation of the jobs that an unskilled worker has. Millions of Americans work for poverty-level wages, and one day Barbara Ehrenreich decided to join them. She was inspired in part by the rhetoric surrounding welfare reform, which promised that any job equals a better life. But how can anyone survive, let alone prosper, on $6 to $7 an hour? Erenbeich decided to find out by actually living the life that people would have under these circumstances. She traveled to three different cities in which to work. The first was Florida, the second Maine and the last Minnesota. To make everything realistic she spent only money from her wages and nothing from her savings. While there, she lived in the cheapest housing and accepted work as a waitress, hotel maid, house cleaner, nursing-home aide, and Wal-Mart salesperson. She also found out that even the humblest livelihoods require strenuous mental and physical effort.. In a capitalistic society, where "unskilled workers" struggle to make ends meet, big companies continue to exploit their labor. The idea of reification also plays well into this story, where the amount of money received in wages is not an equal representation of the worth produced by the laborer, and the laborers act as if they...
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...Cirque du Freaks’ Wacky Olympics Task: You are coordinating an all-day outdoor “Wacky Olympics” offsite team-building event for 100 employees of a corporation, including ten track and field events, a catered luncheon under a tent, refreshments, hospitality areas for persons accompanying the attendees, and a means of displaying corporate branding images. (Page 92, # 2) Figure 1Cirque du Freaks portrait. Courtesy of Coney Island Freak Show Introduction The event is a Cirque du Freaks’ themed Wacky Olympics, Luncheon and Freak Show. The purpose of this event is to provide a fun and uninhibited platform to help rekindle team workmanship and communication amongst the co-workers and departments at Team Corporation. The executives at Team Corporation have hired Me & My Artsy Friends Events to put together an unique team building event on May 21, 2011 at 8:00 am until 4:00 pm. One hundred employees from different departments will be participating in competitive wacky sport events dressed as sideshow characters. The Wacky Olympics will be 10 track and field events that will help teams to strategize and work harmoniously to reach the finish line. After the days sport events, teams will be served a three course exotic comfort food luncheon that will reflect the whimsical day. The luncheon will feature exotic Cirque du Freaks side show attractions like fire eaters and contortionists as well as a freaky circus décor. The...
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...Rather, the company often uses relaxing imagery of families having fun in the park together to target people who may not typically care for amusement parks, such senior citizens or parents with toddlers. Disney also targets children through associated TV channels such as the Family Channel in Canada or Disney Channel in The United States. Disney also uses its own separate properties to attract fans of those properties to the park. For example, TV commercials for the resort often show children meeting Mickey Mouse or another Disney character for the first time. Recent campaigns for the resort have enforced Star Wars due to the film franchise’s revived popularity. Overall, Disney’s image is associated with nostalgia and love. It has almost become a rite of passage to visit Walt Disney World as a child. Meanwhile, Universal Orlando is like Walt Disney World’s younger, rougher cousin. Both...
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...Mars, Incorporated (Chocolate and much more…) Contemporary Business 201160: BUS101-002 Mars, Incorporated is a fascinating company which is so much more than just a candy manufacturer. I was interested in this company because we had purchased stock in the Wrigley Company in 1993 as a gift/investment when my youngest son was born. In 2008, the Wrigley Company was bought by Mars and taken private. Our family had to take a small lost on our shares and no longer received the new development of gum each Christmas. However, it was great move on Wrigley’s behave and for the Mars company as well. Mars is a very diverse organization and does provide a very versatile business plan in this ever changing world and economy. I find it to be an intriguing company and envy it’s progression from a small town at home business to the billion dollar international business it is today. The company began in 1911 by Mr. Frank C. Mars as the Mar-O-Bar Company in his country home kitchen located in Tacoma, Washington. His first products were butter cream candy bars which his family and friends said were the best in the land. He soon outgrew his kitchen when the business started booming and opened his first factory of 125 employees. Quality and value were the foundations for his business and his first mission statement. In 1920, Mr. Mars relocated his factory to Minneapolis, where soon the Snickers (without the chocolate coating) and Milky Way bars were developed and launched....
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...Factors Influencing Visitor's Choices to Visit Urban Destinations Ontario Ministry of Tourism and Recreation Canadian Tourism Commission Canadian Heritage Parks Canada PREPARED BY: PREPARED FOR: Global Insight, Inc. June 2004 Table of Contents I. EXECUTIVE SUMMARY .................................................................................................. 1 Highlights................................................................................................................................ 1 Study Summary........................................................................................................................ 1 Recommendations ................................................................................................................... 2 Next Steps................................................................................................................................ 3 II. III. IV. A. INTRODUCTION............................................................................................................. 4 STUDY OBJECTIVE....................................................................................................... 4 METHODOLOGY ........................................................................................................... 5 LITERATURE REVIEW ........................................................................................................... 6 Introduction............................................
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...It was early 1991, and Michael Eisner, chairman and CEO of the Walt Disney Company, was sitting down with Frank Wells, president and chief operating officer, and Gary Wilson, executive vice president and chief financial officer, to discuss Disney's prospects for the new year. These men were still basking in the glow generated by another record revenue- and profit-breaking year in Disney's history. Disney's businesses were performing at an unprecedented level, and confidence was high. The problem facing the trio who had engineered Disney's turnaround was how to maintain Disney's explosive growth rate and its return-on-investment goal of increasing earnings per share by 20 percent over any five-year period to achieve a 20 percent annual return on equity. Paradoxically, the very success of their strategy, which had originated to protect an underperforming Disney from the rampages of corporate raiders and the threat of takeover, was causing the opposite problem: how to maintain the company's explosive growth in a business environment where attractive opportunities for expansion were becoming increasingly scarce. The men were reflecting on how to develop a five-year plan that would cement the strategy that had led to their present enviable situation and make the 1990s the "Disney Decade." This case is intended to be used as a basis for class discussion rather than as an illustration of either effective or ineffective handling of the situation. This case was...
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... | Submitted on Dec 12, 2011 by: Zeynep Belge Ellen E. McCarthy Hassan Osman Raghunathan T. Saranathan | | Table of Contents I. Overview 3 II. Positioning and Value Proposition 3 III. Brand Identity 13 IV. Market Segmentation 19 V. Financial Information, Industry Reports and Recent Press 26 VI. 7 P’s: What to emulate, what to improve 30 VII. Appendices 35 VIII. Endnotes 37 Overview According to a 2011 report, the amusement park and arcade industry in the United States includes about 3,000 establishments and boasts combined annual revenue of roughly $13 billion. Close to 85% of the combined annual revenue is generated by the 50 largest companies in the industry. Three of the largest companies include Walt Disney, SeaWorld, and Universal Parks & Resorts.[i] This analysis places...
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...Journal of Vacation Marketing http://jvm.sagepub.com Strategic theming in theme park marketing Kevin K. F. Wong and Phoebe W. Y. Cheung Journal of Vacation Marketing 1999; 5; 319 DOI: 10.1177/135676679900500402 The online version of this article can be found at: http://jvm.sagepub.com/cgi/content/abstract/5/4/319 Published by: http://www.sagepublications.com Additional services and information for Journal of Vacation Marketing can be found at: Email Alerts: http://jvm.sagepub.com/cgi/alerts Subscriptions: http://jvm.sagepub.com/subscriptions Reprints: http://www.sagepub.com/journalsReprints.nav Permissions: http://www.sagepub.co.uk/journalsPermissions.nav Downloaded from http://jvm.sagepub.com at SAGE Publications on December 2, 2009 Journal of Vacation Marketing Volume 5 Number 4 Academic Papers Strategic theming in theme park marketing Kevin K. F. Wong and Phoebe W. Y. Cheung Received (in revised form): 20th May, 1999 Department of Hotel and Tourism Management, The Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong Tel: (00 852) 2766 6341; Fax: (00 852) 2362 9362; E-mail: hmkevinw@polyu.edu.hk Kevin K. F. Wong, PhD is a Senior Lecturer in Tourism and Manager of the HTM Resource Centre in the Department of Hotel and Tourism Management at the Hong Kong Polytechnic University, Hong Kong. His major research interests focus on tourism management, tourist behaviour, tourism forecasting models and impact studies. Phoebe W. Y. Cheung is a research...
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