Creative Toys Inc. 1. If Inventory were to be written down in the 4th quarter instead of the 2nd quarter, it could cause the company to be compromised. One of the reasons that the allowance occurs in the 2nd quarter is because Browne realizes that it will make expenses appear too high, but, it will reduce the impact of the lack of future sales. However, if inventory were established in the 4th quarter, where they are expected to increase quite a bit, the transition would be easier. This is the
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Chapter 1 Question #4 What is the difference between economic profit and accounting profit? Why should managers focus mainly on economic profits? Why do you suppose managers often focus on accounting profits? The biggest difference between accounting and economic profit is that accounting profit is based on verifiable historical data and does not take opportunity costs (time and capital) into account when determining the profit. For example, Kobe Bryant might consider leaving his basketball
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Personal Responsibility Essay During my research, I’ve discovered more strategies that students may use to cope with situations that are risky in that they present the possibility for failure and potential threats to self-esteem. (Cantor, Julie., Niedental, Langston, & Brower, Dec 1987) Anxiety and openly set low expectations may lead to performance shortfalls called defensive pessimism. (Cantor, Julie., Niedental, Langston, & Brower, Dec 1987) Students like me may use this strategy due to low
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University of Phoenix Material Conflict Management Plan 1. Identify the available conflict management strategies and their strengths and weaknesses. Strategy Strengths Weaknesses Collaborating By working together can lead to creative solutions. Time and energy Compromising Serving the common good of the team If others cannot compromise Accommodating Serving others needs to come to a conclusion Other team member’s ideas are lost. Competing Generating lots of ideas Can cause
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Identify the three major tasks of economics and discuss why they are important? Base on this week lecture the three major tasks in economics are description, explanation and evaluation. The description is the process which allows company to have a better understanding in what is going in each department within the company. That way the company can find out what would need to be improving in order for the company to make changes so that the company can continue to grow. The company statement would
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Geico Advantages to a Total Rewards Approach There are several advantages to using a total rewards approach to compensating the workforce. The top five are described in the text (pp. 15—17). The following paragraphs discuss the facets of the Geico total rewards program that align with these advantages: The first facet is Increased Flexibility. A total rewards approach, which combines transactional and relational awards, offers tremendous flexibility because it allows awards to
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“Moss and Mcadams Accounting Firm” Explain how you would respond if you were Palmer at the end of the case. It is obvious that everyone involved could have handled things differently in order to maximize time and resources while maintaining a healthy and product work environment for all involved. From the beginning it was evident that Olds skills were definitely in demand. It’s not question that due to his background, Olds talent was quite possibly the best that the Moss and McAdams Accounting
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Bluffing Game We will play the Bluffing Game next class. As a preparation, please think about the game, answer the questions on the opposite side, and turn in this sheet to the TA or on Moodle before 9:00 am 4/1/12. Description of Bluffing Game The game is a very simple sort of poker. Be prepared to play either role (A or B) Both players put $100 (hypothetical money) into “the pot” before play begins Player A receives a card. 1/3 of time it’s “Good Card”, 2/3 of time it’s “Bad Card”
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Student Name: ANG GAO Student Number: 3813958 Week 7 Journal We had an activity called “lost on the moon” in this week’s lecture and we achieved 41 points, which is close to the likely score-30 points. In the whole process of this activity, we used win/lose conflict management strategy to solve our conflict. For instance, when our group members held different opinions on an question, we would vote for different options and we would always choose the one with the majority approvals, which means
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Personal Ethics Statement The standard of ethics I choose to live my life by is right from wrong. From a very small age, I can remember my parents always telling me “you know right from wrong and you need to choose to do right.” I always try to base my decisions in life around that saying. I have come to realize that decisions in life are not always black and white, but I try to follow my instinct and stick by it. Through the Ethical Lens Inventory I learned that my preferred lens is Results and
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