Adjusting entries

I. Problem/Issue Definitions a. Major Ethics Issues While Richard Okumoto was reviewing the “adjusting journal entries”, he noticed some entries that concerned him. These entries caught his attention because they “significantly changed the company’s results.” Furthermore, these entries were made by the CEO, James Dooley, the corporate controller, and senior members of the finance department. The most noteworthy entry was worth $997,000 and it affected the retirement and severance benefits of employees. Thus, with the elimination of these liabilities, the company could report quarterly earnings, rather than a loss. These actions were surely related to the 2001 economic downturn. The elimination of employee benefits is a major ethical issue, because not only were these employees promised these benefits, but they were taken away from them in secret. The actions taken by James Dooley, and company, exemplify the Machiavellian traits of being self-interested, opportunistic, deceptive, and manipulative. Not to mention that their actions were also highly illegal. b. Sub-Issues, identification of the “Influencers” in this scenario, and other business environment considerations…

plus $1,200 brokerage fees. Interest is payable semiannually on April 1 and October 1. July 1 Received a cash dividend of $0.80 per share on the NJF common stock. Aug. 1 Sold 200 shares of NJF common stock at $42 per share less brokerage fees of $350. Sept. 1 Received $2 per share cash dividend on the SEK common stock. Oct. 1 Received the semiannual interest on the CRT bonds. Oct. 1 Sold the CRT bonds for $77,000 less $1,300 brokerage fees. The fair values of the NJK and…

It is important not to overstate the degree to which capital requirements alone deter entry. If industry returns are attractive and are expected to remain so, and if capital markets are efficient, investors will provide entrants with the funds they need. For aspiring air carriers, for instance, financing is available to purchase expensive aircraft because of their high resale value, one reason why there have been numerous new airlines in almost every region. 5. Incumbency advantages…

Most movies present characters with supernatural abilities that humans would never be able to do (have), yet in the movie Divergent, the character Tris is surprisingly relatable to the viewers. In this seemingly Utopian society, all members must pick one of only five different factions, to which they must remain in for the rest of their life. The scene I chose shows Tris going through the Dauntless ritual after she chose them as her faction. She ends up climbing structures, getting onto a full…

companies between the years 1997 and 2007, the market shares of the top 50 US companies where significantly higher in 2007. The article points out that during that time, the profits the companies collected were record-high, and the same thing is starting to happen today. The reason for this is the lack of competition in the market. In perfectly competitive markets where each company only has a small market share and there are low barrier to entry, anyone can start their own business without much…

3.4 Discussion of Results The evidence is clear; large cable conglomerates like TWC, now called Charter Spectrum since its latest merger, act with monopoly power to increase prices and no one is stepping in to regulate them. With only one cable provider in most areas due to prohibitive capital-intensive entry barriers, the government has allowed the cable industry to function as natural monopolies, with limited government restrictions. With free reign on price increases, TWC camouflages many…

threat of entry, bargaining power of customers, intensity of competitive rivalry and bargaining power of suppliers. The threat of new entrants of the porter’s five force model refers to the threat that potential new competition pose to existing competition within the industry. This threat is the force of the model which would shape the competitive nature of the fashion and apparel industry. The fashion and apparel industry is one of high profits and this is why it has attracted many…

In this communication video, I focused the interview on the importance of the individual’s nutrition, their exercise schedule, and how they cope with stress and related factors to these concepts. To begin the interview, I introduced myself at 0:01s stating, “Hi Samantha, I’m Becca, I’m your student nurse today…”. By introducing myself, I am beginning the Introductory Phase. It is important to identify my self and my role to make sure the client is comfortable with the situation and can express…

automates an important process, people may substitute by doing the process manually or by outsourcing it. If substitution is easy and substitution is viable, then this weakens your power. 2. The Threat of the Entry of New Competitors: The second factor of Porter’s forces is the threat of the entry of the new competitors in the market as this is very general that no one will like to share the market with others. Most of the time when new companies enter the market then the old sellers have to…

affect the businesses’ hold over the market. If competitors are offering equally attractive product and service, then business may have little power to manipulate the market situation, because buyers and suppliers have varied options available in the market to make a shift from one product to the other. 4. Substitution threats: This is affected the ability of your consumers to find a different way to do what business do. If substitution is easily available and its practical, then this weakens…