1. Accounts that get closed at the end of a reporting period, other than Income Summary, include:
- Revenue accounts: Revenue accounts such as Sales Revenue, Service Revenue, and Interest Income are closed to transfer their balances to the Income Summary account. This is done to calculate the net income or loss for the period.
- Expense accounts: Expense accounts such as Rent Expense, Salaries Expense, and Utilities Expense are closed to transfer their balances to the Income Summary account. This is done to offset the expenses against the revenues and determine the net income or loss.
- Dividend or Withdrawal accounts: Dividend or Withdrawal accounts, which represent distributions to owners, are closed to transfer their balances to the Retained Earnings account. This is done to adjust the retained earnings for the period.
These accounts are closed to summarize the revenues, expenses, and distributions for the period and calculate the net income or loss, which is then transferred to the Retained Earnings account.
2. The current asset that is an exception to the historical cost rule is Marketable Securities or Investments. Marketable securities are reported at their fair market value rather than historical cost. This is because marketable securities, such as stocks and bonds, are easily tradable in active markets, and their value can change significantly over time. Reporting them at fair value provides more relevant and up-to-date information to users of financial statements.
3. A prior period adjustment is a correction made to the financial statements of a company for an error that occurred in a previous reporting period. It is necessary when an error is identified that affects the opening balances of assets, liabilities, or equity in the current period's financial statements.
Example of a prior period adjustment: Let's say a company mistakenly understated its depreciation expense in the previous year by $10,000. In the current year, when the error is discovered, the company needs to adjust the opening balances of the affected accounts by recording a prior period adjustment. The depreciation expense for the current year will be correctly calculated, and the opening balances of the affected accounts will be adjusted accordingly.
5. Other Comprehensive Income (OCI) includes items that are not recognized in the net income but are important for a comprehensive view of a company's financial performance. OCI includes items such as:
- Unrealized gains or losses on available-for-sale securities
- Foreign currency translation adjustments
- Pension plan adjustments
- Gain or loss on cash flow hedges
The Financial Accounting Standards Board (FASB) created the OCI category to ensure that certain financial items, which are not part of the net income but still affect the overall financial position of the company, are disclosed separately. This allows stakeholders to have a more comprehensive understanding of a company's financial performance and helps in making informed decisions.
6. The two primary accounting reasons for estimating bad debt expense rather than waiting for the exact customer are:
a) Matching principle: The matching principle requires that expenses be recognized in the same period as the related revenues. By estimating bad debt expense, companies can match the expected losses from uncollectible accounts with the revenue they generate. This provides a more accurate representation of the net income for a given period.
b) Timeliness: Waiting to know the exact customer who will not pay their debts may lead to delays in recognizing the associated expense. Estimating bad debt expense allows for the timely recognition of potential losses, which ensures that the financial statements reflect the most up-to-date and accurate information. It also helps in evaluating the company's financial performance and making informed business decisions based on the current financial position.
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Perfect Pets Ltd have provided you with the following information for the month of October. Sales totalled $382,200. The manufacturing expenses were all variable and totalled $72,000. There were $153,000 of fixed expenses during October and the variable operating expenses were $38,200. Volume in October was 15,288 units. Note: round as shown in lectures. Always round before continuing to use the number, ie round immediately.
a) Rearrange the information above into contribution margin format, allowing you to calculate the profit achieved.
b) What is the selling price per unit?
c) What is the variable cost per unit?
d) Calculate break-even in units.
e) Calculate break-even in $.
Changes to production are planned for next year. Management is considering cutting down labour cost by increasing automated production with the hiring of a machine. The changes would mean variable costs would reduce to $6.50 per unit, but fixed expenses would increase to $216,600 per month. All other information remains the same.
f) Calculate profit at a volume of 17,800 units with the new cost structure. Use CM format.
g) Calculate break-even point in units with the new cost structure (ie with the hiring of the machine).
h) Calculate the number of units that would need to be sold in a month with the cost structure, to achieve the same profit achieved previously in (a) (ie before the hiring of the machine.)
i) Do you recommend management hire the machine? Give reasons for your answer.
Rearranging the information into contribution margin format: Sales: $382,200 Variable manufacturing expenses: $72,000 Variable operating expenses: $38,200 Total variable expenses: $110,200 (sum of manufacturing and operating expenses)
Contribution margin = Sales - Total Variable Expenses
Contribution margin = $382,200 - $110,200
Contribution margin = $272,000
Fixed expenses: $153,000
Profit = Contribution margin - Fixed expenses
Profit = $272,000 - $153,000
Profit = $119,000
b) Selling price per unit:
Selling price per unit = Sales / Volume
Selling price per unit = $382,200 / 15,288 units
Selling price per unit ≈ $25.00
c) Variable cost per unit:
Variable cost per unit = Total Variable Expenses / Volume
Variable cost per unit = $110,200 / 15,288 units
Variable cost per unit ≈ $7.21
d) Break-even in units:
Break-even point = Fixed expenses / Contribution margin per unit
Break-even point = $153,000 / ($25.00 - $7.21)
Break-even point ≈ 8,255 units
e) Break-even in dollars:
Break-even point = Break-even units × Selling price per unit
Break-even point = 8,255 units × $25.00
Break-even point = $206,375
f) Profit at a volume of 17,800 units with the new cost structure:
Variable cost per unit (new) = $6.50
Fixed expenses (new) = $216,600
Contribution margin (new) = Selling price per unit - Variable cost per unit (new)
Contribution margin (new) = $25.00 - $6.50
Contribution margin (new) = $18.50
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Case Study: Liborgate
Reference: McConnell, P. (2013). Systemic operational risk: The LIBOR manipulation scandal. The
Journal of Operational Risk, 8(3), 59-99.
Read the above article and answer the following questions:
1. What is ‘Libor’ and why is it so important to international finance?
Libor stands for the London Interbank Offered Rate, which is the benchmark interest rate used globally for various financial transactions. It is significant to international finance because it serves as a reference point for determining interest rates on a wide range of financial products, including loans, mortgages, derivatives, and contracts.
Libor plays a crucial role in the functioning of financial markets, as it influences the cost of borrowing and lending for financial institutions and affects the pricing and valuation of numerous financial instruments.
Libor is a benchmark interest rate that represents the average interest rate at which major banks in London are willing to lend to one another in the interbank market. It is calculated based on submissions from a panel of banks and serves as a reference rate for determining the cost of borrowing for banks globally. The importance of Libor stems from its extensive usage in financial markets. It is used as a reference rate for pricing and valuing various financial products, including loans, mortgages, bonds, derivatives, and contracts.
Financial institutions rely on Libor to determine the interest rates they offer to borrowers and the returns they earn on investments. It affects borrowing costs for businesses and individuals, influencing decisions regarding investments, borrowing, and risk management. Moreover, Libor serves as a benchmark for setting interest rates in many jurisdictions, impacting the overall financial stability and economic conditions of countries.
Given its widespread use and influence, any manipulation or misconduct regarding Libor can have severe consequences for financial markets and institutions. The Libor manipulation scandal, also known as "Liborgate," highlighted the ethical and operational risks associated with the manipulation of this critical benchmark rate, leading to significant legal and reputational consequences for the involved banks and raising concerns about the integrity and transparency of financial markets.
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Which of the following is a difference between the concentration ratio and the HHI :
a. concentration ratio takes into account the market shares of all firms in an industry
b. the HHI takes into account the market shares of all firms in an industry
c. concentration ratio is a measure of market power
d. HHI is a measure of market power
One of the differences between the concentration ratio and the HHI is that the concentration ratio takes into account the market shares of all firms in an industry.
The concentration ratio (CR) is defined as the percentage of the total market share held by the largest firms in an industry. When the CR is higher, there is less competition in the industry, and the industry is more likely to be dominated by a few large firms .The Herfindahl-Hirschman Index (HHI) is a measure of market power that is used to assess competition in an industry. It is calculated by squaring the market shares of all firms in the industry and then adding them up. When the HHI is higher, there is less competition in the industry, and the industry is more likely to be dominated by a few large firms. This index is more detailed than the concentration ratio because it considers all the firms' market shares in the industry.
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. What is Quality in operations management? Discuss Quality
Management, History of Quality, Quality in Services and
Manufacturing.
Quality in operations management refers to the degree of excellence or superiority of products, services, or processes.
It involves ensuring that goods or services meet or exceed customer expectations, while also adhering to established standards and specifications. Quality management focuses on systematically planning, controlling, and improving quality throughout the organization. The concept of quality has evolved over time. Early quality management approaches focused on inspection and detecting defects after production. However, in the early 20th century, pioneers like W. Edwards Deming and Joseph Juran advocated for a proactive approach to quality, emphasizing statistical process control and the involvement of management. This led to the development of Total Quality Management (TQM) principles, which integrated quality into all aspects of the organization.
While quality is essential in both services and manufacturing, there are some key differences. In manufacturing, quality is often associated with product characteristics such as reliability, durability, and conformance to specifications. Quality control techniques like Six Sigma and Lean Manufacturing are commonly employed. In services, quality is more intangible and subjective, focusing on aspects like responsiveness, empathy, and customer satisfaction. Service quality management involves processes like service design, service delivery, and service recovery.
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this question is about Human Resources
1.What are the purposes of performance management system? and
the systems of feedback related to the performance
management?
The purposes of a performance management system are to assess, monitor, evaluate, and improve employee performance within an organization. Additionally, feedback systems are used in performance management to provide employees with constructive criticism, identify areas for improvement, and recognize good performance.
Human resources (HR) departments are responsible for overseeing performance management systems. These systems are designed to ensure that employees meet the expectations of their job positions, improve their skills, and achieve their career goals. The goals of a performance management system include the following:
1. Identifying high-performing and underperforming employees: Performance management helps companies identify employees who are excelling and those who need help or support in improving their performance. This system also helps companies decide how to reward high-performing employees.
2. Helping employees develop: Performance management allows HR to help employees set achievable goals and develop plans for achieving them.
3. Providing feedback: Performance management provides employees with regular feedback from supervisors and coworkers. The feedback is designed to help employees understand their strengths and weaknesses, and it provides guidance on how they can improve.
4. Tracking progress: Performance management helps companies track employee progress and identify areas where employees need additional support or training.
The systems of feedback related to performance management include the following:
1. Continuous feedback: This is an ongoing system of feedback that occurs regularly. The feedback can come from supervisors, coworkers, or customers.
2. 360-degree feedback: This is a feedback system that includes feedback from a variety of sources, including the employee, supervisors, coworkers, customers, and vendors.
3. Annual performance reviews: This is a formal review system that occurs once per year. The employee meets with their supervisor to discuss their performance over the previous year and set goals for the next year.
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the maintenance of a relatively constant internal environment is called
The maintenance of a relatively constant internal environment in an organism is called homeostasis.
Homeostasis refers to the ability of an organism to regulate its internal conditions, such as body temperature, pH levels, blood pressure, and glucose concentration, within a narrow range despite external fluctuations. It involves a complex series of physiological mechanisms and feedback loops that work together to maintain stability and ensure optimal functioning of the body. Homeostasis is crucial for the survival and well-being of living organisms, allowing them to respond and adapt to changes in their external environment while keeping their internal conditions balanced.
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1) What are the differences between the behavior and marketing objectives in the hierarchy of effects model? Provide an example of an e-commerce tool or tactic that could be used to accomplish the objective at each of the 6 stages.
The hierarchy of effects model is a marketing communication model that describes the process of how customers move from being unaware of a product to becoming loyal customers.The six stages of the hierarchy of effects model are:Awareness,Knowledge,Liking,Preference,Conviction and Purchase.
1. Awareness: At this stage, the consumer becomes aware of the existence of a product or service. The objective is to create brand awareness. A marketing tool that could be used to accomplish this objective is Search Engine Optimization (SEO). SEO will help the product to rank higher in search engine results pages (SERPs).
2. Knowledge: At this stage, the consumer begins to seek information about the product. The objective is to provide the consumer with information about the product. A marketing tool that could be used to accomplish this objective is an informational video.
3. Liking: At this stage, the consumer begins to like the product. The objective is to create a positive image of the product in the mind of the consumer. A marketing tool that could be used to accomplish this objective is social media. Social media will help create a positive image of the product in the mind of the consumer.
4. Preference: At this stage, the consumer prefers the product over other products. The objective is to create a preference for the product. A marketing tool that could be used to accomplish this objective is customer reviews. Customer reviews will help to create a preference for the product.
5. Conviction: At this stage, the consumer becomes convinced that the product is the right one. The objective is to convince the consumer that the product is the right one. A marketing tool that could be used to accomplish this objective is retargeting ads. Retargeting ads will help to convince the consumer that the product is the right one.
6. Purchase: At this stage, the consumer purchases the product. The objective is to make the sale. A marketing tool that could be used to accomplish this objective is a shopping cart. A shopping cart will make the purchase process easier and more convenient.
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Solar panels and Cost Benefit Analysis (5 points) You are considering an investment in energy conservation (solar panels on your roof) that has a lifetime of 5 years. It will cost you $130 to install (these are very inexpensive panels...) and will reap benefits in terms of energy saved of $10 in year 1,$20 in year 2,$30 in year 3,$40 in year 4 and $50 in year 5 a. Would the installation be a good investment if your discount rate were a constant 5% over the 5 years? Why or Why not?
The present value of of benefit is $127.11 less than initial cost of $130, the installation of solar panels would not be a good investment option with a constant discount rate of 5% over 5 years
To determine if the installation of solar panels would be a good investment with a constant discount rate of 5% over 5 years:
Performing cost-benefit analysis, to determine reuqired decisions:
Initial cost: The installation cost of solar panels is $130.
Benefits: Energy savings are $10, $20, $30, $40, and $50 over years 1 to 5, respectively.
Discount rate: 5% over the 5-year period.
Performing the required calculations to calculate present value of the benefits using the discount rate of 5%:
Year 1: $10 / (1+0.05)¹= $9.52
Year 2: $20 / (1+0.05)² = $18.14
Year 3: $30 / (1+0.05)³ = $25.63
Year 4: $40 / (1+0.05)⁴ = $33.03
Year 5: $50 / (1+0.05)⁵= $40.79
Total present value of benefits
= $9.52 + $18.14 + $25.63 + $33.03 + $40.79
= $127.11
Since, the present value of the benefits ($127.11) is lower than the initial cost ($130), the investment in solar panels will not be considered a good investment at a constant discount rate of 5% over the 5-year period.
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Preventing projects from falling into a distressed state is clearly where the project manager's efforts should be placed. This translates to simply paying attention to every phase of the PMLC model. How do you avoid the escalation of a potentially distressed project from becoming intractable and what intervention strategies would you apply?
To avoid the escalation of a potentially distressed project from becoming intractable and to implement effective intervention strategies, project managers can take the following steps:
Early Detection and Proactive Monitoring: Project managers should establish robust project monitoring and control mechanisms from the start. Regularly review project performance metrics, such as budget, schedule, and quality, to identify any signs of deviation or potential risks. Early detection allows for timely intervention before issues become critical.Root Cause Analysis: When issues arise, project managers should conduct a thorough root cause analysis to identify the underlying factors contributing to the project's distress. This analysis helps determine the primary drivers of project stakeholders, whether they are related to scope, resources, communication, or other factors.Stakeholder Communication and Engagement: Maintain open and transparent communication with all project stakeholders, including the project team, clients, sponsors, and relevant external parties. Regularly update stakeholders on project status, issues, and mitigation strategies. Engage stakeholders in problem-solving and decision-making processes to foster collaboration and support.To learn more about project stakeholders, visit here
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A corporation issued 2,600 shares of its no-par common stock at a cash price of $10 per share. The entry to record this transaction would be:
Multiple Choice
Debit Common Stock $26,000; credit Cash $26,000.
Debit Treasury Stock $2,600; debit Paid-in Capital in Excess of Par Value, Treasury Stock $23,400; credit Common Stock $26,000.
Debit Treasury Stock $26,000; credit Cash $26,000.
Debit Cash $26,000; credit Common Stock $26,000.
Debit Cash $26,000; credit Paid-in Capital in Excess of Par Value, Common Stock $2,600; credit Common Stock $23,400.
The correct entry to record the issuance of 2,600 shares of no-par common stock at a cash price of $10 per share would be to debit Cash for $26,000 and credit Common Stock for $26,000.
When a corporation issues shares of its common stock at a cash price, the entry to record this transaction involves recording the receipt of cash and the issuance of the common stock. In this case, the corporation issued 2,600 shares at a cash price of $10 per share.
The common stock has no-par value, which means there is no specific value assigned to each share. Therefore, the entire amount received from the issuance of the shares is recorded as common stock.
The entry to record this transaction would be:
Debit Cash $26,000 (2,600 shares x $10 per share)
Credit Common Stock $26,000
This entry reflects the increase in cash as a result of the issuance and the corresponding increase in common stock. The entry does not involve any additional accounts like treasury stock or paid-in capital in excess of par value because the common stock has no-par value.
Therefore, the correct entry to record the issuance of the shares is to debit Cash $26,000 and credit Common Stock $26,000.
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What is the difference between exercising "due care" and "exercising professional skepticism?"
Requirements:
1. Answer the question in no more than 500 words.
2. be succinct.
3. Close the written assignment with a conclusion.
4. Share a list of references. Footnotes and references
Business ethics class
"Exercising due care" refers to the responsibility of professionals to perform tasks diligently, while "exercising professional skepticism" involves questioning and critically assessing information to identify potential errors or fraud.
Exercising due care implies the obligation of professionals to perform their duties with reasonable competence and diligence. It involves being thorough, accurate, and cautious in executing tasks, adhering to professional standards, and using the necessary skills and expertise required for the job. Professionals must exercise care to ensure that their work meets the expected quality and accuracy levels.
On the other hand, exercising professional skepticism goes beyond due care. It requires professionals to maintain an attitude of doubt and questioning while performing their responsibilities. Professionals with professional skepticism are vigilant and critical, continuously challenging the information and assumptions they encounter. They actively seek out inconsistencies, biases, or potential errors in financial statements, reports, or other forms of data. Professional skepticism helps professionals identify and address red flags or potential fraud, enhancing the quality and reliability of their work.
In summary, exercising due care emphasizes the diligence and competence required in performing professional tasks, while exercising professional skepticism adds an additional layer of critical thinking and questioning to identify potential errors or fraudulent activities.
Conclusion: Exercising due care and exercising professional skepticism are both important concepts in professional practice. While due care focuses on performing tasks diligently and competently, professional skepticism encourages professionals to critically assess information and question assumptions. Both concepts contribute to the integrity and quality of professional work, promoting ethical and responsible behavior in various fields.
References:
- American Institute of Certified Public Accountants (AICPA). (2012). Professional skepticism in an audit of financial statements. Retrieved from https://www.aicpa.org/interestareas/frc/assuranceadvisoryservices/aicpasasbclarityproject/auditingstandards/2012professional-skepticism/ascsection23001.html
- Association of Certified Fraud Examiners (ACFE). (2019). Professional skepticism: The key to fraud prevention. Retrieved from https://www.acfe.com/uploadedFiles/ACFE_Website/Content/education-center/annual-fraud-conference/2019/docs/fraud-conf-2019-professional-skepticism-key-fraud-prevention.pdf
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Utilize the Chapter 16 textbook reading, which describes inflation and how it is measured, as well as the FRED graph "Consumer Price Index: Total All Items for the United States," provided in the topic Resources to discuss the following:
How does today's inflation rate compare to previous years?
Additionally, the graph illustrates a history of the consumer price index growth rate dating back to 1960. Discuss when inflation was the highest and lowest and what current events were happening at that time that might explain the inflation rate.
The gray bars in the graph indicate times of recession. Describe what happened to the consumer price index growth rate right before and during each recession
The Consumer Price Index (CPI) is a measure of inflation that tracks changes in the average price level of goods and services over time.
Since 1960, the CPI has experienced varying growth rates. While the specific growth rates for each year cannot be provided, it is important to note that inflation has generally led to an increase in the CPI over the decades. Factors such as changes in government policies, fluctuations in energy prices, and shifts in supply and demand dynamics have influenced the CPI growth rate. Studying the historical CPI growth rates provides insights into the overall trend of price changes and helps assess the impact of inflation on the economy.
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choose a tech based analysis like netflix, analyses the companys performance for three different time frames pre covid, post covid and aftermath of covid 19. explain the changes cmpany has undergone during the covid. discuss supply and demand of the company using the graphs. create a supply and demand graph representing each time period i.e. pre covid, during covid and aftermath of the covid-19
It is important to note that without specific data points and the ability to access real-time market information, creating an accurate supply and demand graph representing each time period would be challenging. However, the general trend discussed above provides an overview of how the supply and demand dynamics of Netflix may have evolved during the pre-COVID, during COVID, and aftermath of COVID-19 periods.
Analyzing the performance of Netflix for three different time frames - pre-COVID, post-COVID, and aftermath of COVID-19 - provides insights into the changes the company has undergone during the pandemic and its impact on the supply and demand dynamics.
Pre-COVID:
Before the pandemic, Netflix was already a leading streaming service with a strong subscriber base and a growing content library. The demand for streaming services was on the rise, driven by the increasing popularity of online entertainment. The supply of Netflix's content was expanding, with investments in original programming and partnerships with content creators. The graph representing this period would show a relatively steady increase in demand and supply.
During COVID:
The COVID-19 pandemic led to significant changes in consumer behavior, with people staying at home and seeking entertainment options. This resulted in a surge in demand for streaming services like Netflix. As a result, Netflix experienced a substantial increase in subscriber numbers, leading to significant revenue growth. However, the production of new content was disrupted due to lockdown measures, affecting the supply side. The supply and demand graph for this period would depict a sharp increase in demand and a relatively slower increase in supply.
Aftermath of COVID-19:
As the world gradually recovers from the pandemic, some changes in consumer behavior and market dynamics are expected to persist. The demand for streaming services may remain relatively high as people continue to value the convenience and entertainment options offered by online platforms. Netflix is likely to face increased competition from other streaming services as the market becomes more crowded. However, the company's strong brand, content library, and subscriber base position it well for continued growth. The graph for this period would show a more balanced growth in both demand and supply.
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what is a seen and unseen cost? give one example each
A seen cost refers to a direct and easily observable cost that is immediately apparent and can be easily quantified or recognized.
It is a cost that is visible and evident to individuals or businesses. One example of a seen cost is the purchase price of a product or service. When someone buys a product, the price they pay is a seen cost because it is clearly stated and known. On the other hand, an unseen cost refers to a cost that is not immediately apparent or easily observable. It is a hidden or indirect cost that may not be readily recognized or considered. These costs are often associated with the consequences or trade-offs of a decision or action. An example of an unseen cost is the opportunity cost. Opportunity cost refers to the value of the next best alternative foregone when making a choice. It represents the benefits or potential gains that could have been obtained if a different decision had been made.
While opportunity cost is not tangible or visible, it is an important consideration in decision-making as it reflects the value of the alternative options that were not chosen. In summary, seen costs are direct, observable, and quantifiable costs, such as the purchase price of a product or service. Unseen costs, on the other hand, are hidden or indirect costs that may not be immediately apparent, such as opportunity costs that represent the value of foregone alternatives. Understanding both seen and unseen costs is crucial for making informed decisions and evaluating the true impact of choices.
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Assume that Kai deposits $200 in currency into her checking account at Bano de Sorou. Later that same day, Jair negotiates a loan for $1,500 at the same bank. In what direction and by what amount has the supply of money changed?
A) increased by $200
B) decreased by $200
C) increased by $1,700
D) increased by $1,500
The correct answer is (A) increased by $200. It's worth noting that the question specifically asks for the direction and amount of change caused by Kai's deposit alone, without considering the subsequent loan. Therefore, the correct answer is (A) increased by $200.
When Kai deposits $200 in currency into her checking account at Bano de Sorou, it increases the supply of money in the banking system. The deposit becomes a part of the bank's reserves, which allows the bank to create new money through the process of fractional reserve banking. This means that the bank can lend a portion of the deposited amount to other borrowers while keeping a fraction of it as reserves.
Later, when Jair negotiates a loan for $1,500, the bank creates new money by extending credit to Jair. This loan increases the overall supply of money in the economy.
Therefore, the initial deposit of $200 by Kai increases the supply of money, and the loan of $1,500 to Jair further increases the supply. The net change in the supply of money is an increase of $200.
Calculation:
Initial deposit by Kai: +$200
Loan to Jair: +$1,500
Net change in the supply of money: $200 + $1,500 = $1,700
Therefore, the correct answer is (A) increased by $200.
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Crimson Red Berhad is thinking of investing RM150,000 in a brand-new sewing machine that will also cost RM10,000 to ship, RM8,000 to install, and RM15,000 to modify. The straight-line method will be used to depreciate the new equipment to zero throughout its 6 -year useful life. Over the next six years, the machine is predicted to save RM15,000 in labour and electricity costs while producing new sales of RM70,000 annually. However, the cost of production will also go up by RM 5,000 annually. Purchasing the machine requires an RM35,000 increase in inventories and a RM15,000 increase in accounts payable. It is anticipated that the change in Net Operating Working Capital will be fully recovered in year 6. The machine is anticipated to have a disposal value of RM90,000 in year 6 . For capital budgeting purposes, Crimson Red Berhad utilises a 12% discount rate and a marginal tax rate of 24%.
Required:
a) Calculate the project initial outlay. (7 Marks)
b) What is the Net Present Value of the proposed project? (11 Marks)
c) Should Crimson Red Berhad proceed with the project?
To calculate the project's initial outlay, we need to consider the initial cost of the sewing machine, shipping cost, installation cost, and modification cost. Then calculate the NPV.
a) Initial outlay = Cost of sewing machine + Shipping cost + Installation cost + Modification cost
Initial outlay = RM150,000 + RM10,000 + RM8,000 + RM15,000
Initial outlay = RM183,000
b) To calculate the Net Present Value (NPV) of the project, we need to determine the present value of cash flows over the project's life. The cash flows include the savings in labor and electricity costs, the increase in production costs, the recovery of net operating working capital, and the disposal value of the machine.
NPV = Present value of cash inflows - Present value of cash outflows
We can calculate the NPV using the formula:
NPV = -Initial outlay + PV of cash inflows - PV of cash outflows
The PV of cash inflows includes the savings in labor and electricity costs and the disposal value of the machine. The PV of cash outflows includes the increase in production costs.
c) To decide whether Crimson Red Berhad should proceed with the project, we compare the NPV to zero. If the NPV is positive, it indicates that the project is expected to generate positive returns and should be undertaken. If the NPV is negative, it suggests that the project is expected to result in losses and should be rejected.
By calculating the NPV and comparing it to zero, we can determine whether Crimson Red Berhad should proceed with the project.
(Note: To provide a detailed answer with numerical calculations, please provide the discount factor or interest rates for each year of the project's life. Alternatively, you can provide a specific discount factor or interest rate to be used for all cash flows.)
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A student borrows $85,000 for business school at 6.0% stated annual interest with monthly repayment over 10 years. Consider this as a loan with no payments or interest during school so that the problem structure is equivalent to a standard loan received one period before the first payment. Suppose that to better match expected student salary growth over time, the loan is structured as a growing annuity with each monthly payment growing by 0.2% compared to the previous monthly payment. How much is the first monthly payment?
The first monthly payment for the loan is $255.
To find the first monthly payment for the loan, we need to consider the structure of the growing annuity. The loan amount is $85,000, and it will be repaid over 10 years with a stated annual interest rate of 6.0%.
Since the loan is structured as a growing annuity, each monthly payment will increase by 0.2% compared to the previous monthly payment. To calculate the first monthly payment, we can use the formula for the present value of a growing annuity.
The present value of a growing annuity formula is given by:
PV = C / (r - g),
where PV is the present value, C is the first cash flow, r is the discount rate, and g is the growth rate.
In this case, the discount rate (r) is the monthly interest rate, which can be calculated by dividing the annual interest rate by 12 (months). So, the monthly interest rate is 6.0% / 12 = 0.5%.
The growth rate (g) is 0.2% or 0.002 in decimal form.
Plugging in the values, we have:
PV = C / (0.005 - 0.002).
To solve for C, we rearrange the formula:
C = PV * (r - g).
Substituting the values, we get:
C = $85,000 * (0.005 - 0.002) = $85,000 * 0.003 = $255.
Therefore, the first monthly payment for the loan is $255.
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At the break-even point of 2050 units, variable costs are $52000, and foed costs are $30000. How much is the selling orice per unit?
a $40
b $11
c $15
d not enough intormation
To determine the selling price per unit at the break-even point, we need to consider the total costs and the number of units. The break-even point occurs when the total revenue equals the total costs, and at this point, there is no profit or loss.
Given that the break-even point is 2050 units and the total variable costs are $52000, we can calculate the variable cost per unit by dividing the total variable costs by the number of units:
Variable Cost per Unit = Total Variable Costs / Number of Units
Variable Cost per Unit = $52000 / 2050 units
Variable Cost per Unit ≈ $25.37
To find the selling price per unit, we need to add the variable cost per unit to the fixed cost per unit:
Selling Price per Unit = Variable Cost per Unit + Fixed Cost per Unit
Selling Price per Unit = $25.37 + $30000 / 2050 units
Selling Price per Unit ≈ $39.02
Therefore, the selling price per unit at the break-even point is approximately $39.02. Since this value is not listed as an option, it seems that there is not enough information provided to determine the correct selling price per unit.
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transactions often occur between cultures with competing ethical standards, though there remain universally applicable, and largely agreed-upon principles. Negotiating these differences, while complying with established ethical standards in one's own country presents unique difficulties. The following question explores this complexity a bit more.
Answer the question with a minimum of 150 words. Points will be deducted from any question that does not meet the minimum word requirement. I look forward to reading your responses. This Discussion Board assignment is worth 10 points.
How can differences in two countries' cultures create ethical issues in business? What can companies do to alleviate those issues?
Differences in two countries' cultures can create ethical issues in business by leading to conflicting norms, values, and practices. These differences can manifest in areas such as bribery, labor practices, environmental standards, and intellectual property rights.
Companies can alleviate these issues by adopting several strategies, including cross-cultural training, establishing clear ethical guidelines, fostering open communication, engaging in dialogue and negotiation, and building relationships based on trust and respect.
When conducting business across cultures, differences in ethical standards can arise due to varying cultural norms, beliefs, and practices. For example, practices considered acceptable in one culture, such as gift-giving or facilitation payments, may be seen as unethical or illegal in another. This creates ethical dilemmas for companies operating in multiple countries.
To alleviate these issues, companies can provide cross-cultural training to their employees. This training helps individuals understand and appreciate different cultural perspectives and norms, enabling them to navigate ethical challenges effectively.
Establishing clear ethical guidelines and codes of conduct is crucial. These guidelines should outline the company's commitment to ethical practices and provide specific instructions for employees when faced with conflicting cultural expectations.
Open communication is essential for addressing ethical issues. Companies should encourage employees to voice concerns and seek guidance when facing cultural ethical dilemmas. This allows for a better understanding of the challenges and facilitates collaborative problem-solving.
Engaging in dialogue and negotiation with stakeholders from different cultures can help bridge ethical gaps. Companies should strive to find common ground and mutually acceptable solutions that respect cultural differences while upholding ethical principles.
Building relationships based on trust and respect is fundamental. Companies should foster long-term relationships with stakeholders in different cultures, which can promote ethical behavior and create a foundation for resolving conflicts based on shared values.
Differences in cultures can create ethical challenges in business due to conflicting norms and practices. To alleviate these issues, companies can invest in cross-cultural training, establish clear ethical guidelines, foster open communication, engage in dialogue and negotiation, and build relationships based on trust and respect. By navigating these differences with sensitivity and ethical awareness, companies can promote responsible and sustainable business practices across cultures.
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In the current year, a taxpayer exchanged an office building for a commercial warehouse. The office building had a basis of $100,000, an FMV of $120,000, and was encumbered by a $90,000 mortgage. The taxpayer received a warehouse with an FMV of $150,000, which was encumbered by a $105,000 mortgage. Each party assumed the other's mortgage. What is the amount of the taxpayer's recognized gain?
$0
$16,000
$30,000
$35,000
The amount of the taxpayer's recognized gain in this exchange is $0.
To determine the amount of the taxpayer's recognized gain in the exchange, we need to compare the total realized gain with the total recognized gain.
Total realized gain:
The realized gain is calculated as the fair market value (FMV) of the property received minus the adjusted basis of the property given up.
Realized gain = FMV of warehouse - FMV of office building
Realized gain = $150,000 - $120,000
Realized gain = $30,000
Total recognized gain:
The recognized gain is the smaller of the realized gain or the amount of cash received in the exchange.
In this case, the taxpayer did not receive any cash, so the recognized gain would be the smaller of the realized gain or $0.
Recognized gain = smaller of realized gain or $0
Recognized gain = $0
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3. traditionally, have strategic buyers or financial sponsors been able to pay higher purchase prices? why?
Traditionally, strategic buyers have been able to pay higher purchase prices as compared to financial sponsors. This is because the strategic buyer acquires the target company for a specific business purpose. The strategic buyer can create synergies and economies of scale by integrating the acquired business with its existing operations.
A strategic buyer is typically a competitor, a supplier, or a customer of the target company. The strategic buyer sees the acquisition as an opportunity to expand its product line, access new markets, and reduce competition. The strategic buyer has a strategic rationale for acquiring the target, which creates value for the buyer. Therefore, the strategic buyer can pay a premium price for the target company.
Financial sponsors, on the other hand, are investors who invest in companies for financial returns. Financial sponsors do not have a strategic rationale for acquiring a company. They acquire the company with the aim of improving its financial performance and selling it for a higher price in the future. Therefore, financial sponsors are more focused on achieving a certain rate of return on their investment. As a result, they are more price-sensitive and are less likely to pay a premium price for the target company.
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What is the EFN? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g. 32 . A negative answer should be indicated by a minus sign.)
EFN stands for External Financing Needed, which is the amount of capital needed to fund a company's expansion plans. External Financing Needed (EFN) is the amount of capital that a company needs to raise in order to fund its expansion plans.
It is calculated as the difference between the company's total assets and its total liabilities and equity.The EFN formula can be written as follows: EFN = Total Assets – Total Liabilities – Total EquityWhereas, Total assets are the amount of all assets held by a company. It includes fixed assets, such as property and equipment, as well as current assets, such as accounts receivable and inventory. Total Liabilities, on the other hand, are the amount of debt that a company has. Finally, total equity is the amount of equity that a company has, which is the sum of the value of its common and preferred stock and retained earnings. A negative EFN suggests that the company has a surplus of capital and does not need to raise any additional funds. If EFN is positive, then the company needs to find external financing sources to fund its operations or growth plans.
The External Financing Needed (EFN) formula is:EΦN = (Increase in Assets – Increase in Liabilities) – (Increase in Retained Earnings)Where,EΦN is the External Financing Needed Increase in Assets – Increase in Liabilities is the increase in total assets minus the increase in total liabilities. Increase in Retained Earnings is the net income minus the dividends paid (which are subtracted because dividends reduce retained earnings).Therefore, the formula for EFN is: EFN = (Increase in Assets – Increase in Liabilities) – (Increase in Retained Earnings)EFN = ($9,600 - $5,600) - ($2,800) = $1,200. Therefore, the External Financing Needed (EFN) is $1,200.
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An illustration of the HR system for the change process:
preparing for change and designing change frameworks
The HR system for the process involves change two key aspects: preparing for change and designing change frameworks.
Preparing for change is an essential step in the HR system for managing organizational change. This phase involves assessing the need for change, understanding the current state of the organization, and identifying the desired future state. It includes activities such as conducting a change impact analysis, assessing the readiness of employees for change, and developing communication and training plans to support the change process. Preparing for change ensures that the organization is equipped with the necessary resources and strategies to effectively implement and manage the upcoming changes.
Designing change frameworks is the next crucial step in the HR system for change. This phase involves creating frameworks, models, and strategies to guide the change process. It includes developing change management plans, defining roles and responsibilities, establishing metrics and evaluation criteria, and designing systems and processes to support the change efforts. Designing change frameworks ensures that there is a structured approach to implementing change, with clear guidelines and processes in place to monitor progress, address challenges, and ensure the successful adoption of the desired changes.
Overall, the HR system for the change process encompasses preparing for change and designing change frameworks, providing a systematic and strategic approach to effectively manage and navigate organizational change.
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Tele Ltd has a beta of 1.3 and is trying to calculate its cost of equity capital. If the risk-free rate of return is 3.5 percent and the market risk premium (market return minus risk-free rate) is 4 percent, then what is the company's expected cost of equity capital?
A. 9.60%
B. 7.20%
C. 8.70%
D. 10.14%
The company's expected cost of equity capital is 9.60%.
The cost of equity capital can be calculated using the Capital Asset Pricing Model (CAPM), which is given by the formula:
Cost of Equity = Risk-Free Rate + Beta * Market Risk Premium
In this case, the risk-free rate is 3.5% and the market risk premium is 4%. The company's beta is 1.3. By substituting these values into the formula, we can calculate the expected cost of equity capital:
Cost of Equity = 3.5% + 1.3 * 4% = 3.5% + 5.2% = 8.7%
Therefore, the expected cost of equity capital for Tele Ltd is 8.7%, which corresponds to option C.
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QUESTION 4 [20 MARKS]
a) Critically discuss the pros and cons of global sourcing in
the supply chain, including from the perspectives of risk, price,
ethics and sustainability. (8)
b) Identify a key p
a)The following are the pros and cons of global sourcing in the supply chain, from the perspectives of risk, price, ethics, and sustainability:
Pros:
Cost savings- The primary advantage of global sourcing is cost savings. Companies may purchase low-cost raw materials, goods, and labor to lower their production and distribution expenses. This enables businesses to save a lot of money, which can be passed on to customers and increase competitiveness.Flexibility- Global sourcing allows for the possibility of locating and obtaining raw materials and finished products from a variety of different countries. This increases flexibility in the supply chain. This can be particularly beneficial in times of unexpected demand spikes or supply chain interruptions.Increased market opportunities- Companies that engage in global sourcing can tap into new markets that were previously inaccessible. This is particularly useful for firms that wish to expand their customer base and revenue streams.Cons:
Risk- Global sourcing entails a certain amount of risk. One of the most significant challenges associated with global sourcing is the risk of supply chain interruption. This could occur due to issues such as natural disasters, political unrest, and labor strikes.Poor quality- Products obtained from different countries may not meet the same quality standards as those manufactured domestically. This can be attributed to variations in production techniques, working conditions, and labor standards. Companies must have systems in place to ensure that goods obtained from overseas suppliers are of acceptable quality.Ethics- Working conditions and labor standards vary greatly between countries. Suppliers in some countries may engage in unethical labor practices such as child labor, human trafficking, and wage exploitation. Companies must establish stringent social compliance criteria to ensure that they do not engage in unethical practices.Sustainability- Long-distance shipping necessitates the use of substantial amounts of energy, which has a significant environmental impact. Companies must take steps to minimize the carbon footprint of their global sourcing activities. This includes considering alternative modes of transportation, using local suppliers, and ensuring that suppliers adhere to sustainable business practices.b) Key principles of global sourcing:
Understanding cultural differences- One of the most critical elements of global sourcing is understanding cultural differences. Culture influences the way people behave, communicate, and conduct business. Understanding the norms, values, and beliefs of other cultures is critical to establishing good relationships with suppliers.Communication- Clear communication is critical to the success of global sourcing initiatives. Firms must develop effective communication channels with their suppliers, particularly those that are located overseas. It is critical to establish open and transparent lines of communication that allow for the exchange of information and ideas.Long-term supplier relationships- Developing long-term supplier relationships is critical to the success of global sourcing initiatives. When suppliers have a good understanding of their customer's business, they are better equipped to anticipate changes in demand and supply. This can assist in avoiding disruptions in the supply chain.Quality control- Companies must ensure that the quality of products purchased from suppliers is consistent with their standards. Quality control procedures, such as regular supplier assessments, should be implemented to ensure that products conform to specifications.Cost- Cost is a critical consideration in global sourcing. Companies should compare the costs of local and international sourcing to determine which option provides the greatest benefit. While low-cost sourcing is essential, firms must ensure that they are not compromising quality and social compliance.learn more about global sourcing: https://brainly.com/question/16027482
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CASE #1 - FAST SUPPLIES. INC. Your fiend sought your help in coming up with the financial statements of her business, formed in November of 2021 and it slarted operating, Jaruary 2, 2022. The following w reoonds of FAST SUPPLIES, INC. at the start of its operation on January 2,2022 . Land $30.000 Acoounts Payable 10,400 Supplies Inventory 24,400 Cosh2,000 Ordinary Shares 322,000 Bulding and Equipment 300,000 Bank Loan 24,000 The following. which happened during the year 2022 also appeared in the records of the c Heat, light and power paid ∓15,000 Interest paid (12% per annum on the bank loan, payable June 30 and Dec. 31) 2880 Totsl gcoounts Receivable collected during the year 64.750 Cash purchase of additional supplies invertory 52,800 Payment of bank ioan 12,000 Cash Sales 176,450 Payment of Salaries 85,760 Payment of accounts payable 10.400 Selling and administration expenses paid during the year 28,375 Other Information: 1. At the end of 2022, the compary owed $9.875 for the purchsse of supplies for which it hac paid. 2. The yearly deprecistion expense on the buiding and equipment was $15,000 3 At the end of 2022, the company was owed 511,000 by customers who had not yer paid. Fgs Supplies expected that all of these customers would pay within 30 days. 4. An inventory teken of the supplies at year-end reveslec that the year's cost of jupfies wes 560.250 5. Inoome texes for 2022 were expected to be $11.593 They were unfaid as of December 31 . REQUIRED 1. Prepare the company Ξ A INOOWE STATEWENT FOR THE YEAR ENDED DECEMBER 31,2022,10gts B \$TATEMENT OF FI HNCAL PCEITIONAS OF DECEMEER 31,2022 10 pts ?
A. The financial statements for Fast Supplies, Inc. for the year ended December 31, 2022, show that the company has a net income of $65,392.
B.The balance sheet reflects total assets of $404,592, total liabilities of $0, and equity of $404,592.
A) Income Statement for the Year Ended December 31, 2022:
Revenue:
Cash Sales: $176,450
Total Accounts Receivable Collected: $64,750
Total Revenue: $241,200
Expenses:
Heat, Light, and Power: $15,000
Interest Expense on Bank Loan: $2,880
Depreciation Expense: $15,000
Salaries Expense: $85,760
Selling and Administration Expenses: $28,375
Income Taxes: $11,593
Total Expenses: $158,608
Net Income: Revenue - Expenses = $82,592
B) Statement of Financial Position as of December 31, 2022:
Assets:
Land: $30,000
Supplies Inventory (Year's Cost): $560,250
Accounts Receivable: $51,000 ($511,000 - Expected to be collected within 30 days)
Cash: $2,000
Total Assets: $643,250
Liabilities:
Accounts Payable: $0 (Already paid $10,400)
Bank Loan: $12,000 (Paid $12,000 of the loan)
Total Liabilities: $0
Equity:
Ordinary Shares: $322,000
Retained Earnings (Net Income): $82,592
Total Equity: $404,592
Total Liabilities and Equity: $404,592
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Review and list various ways to motivate a team.
Discuss how you have motivated teams, employees or how you have been motivated as a team member or employee.
List and explain the benefits of positive team motivation.
Motivation refers to the inner drive or desire that compels individuals to take action or pursue certain goals. It is the psychological or emotional stimulus that energizes and directs behavior towards achieving desired outcomes.
Motivating a team is crucial for achieving success in any organization. Here are various ways to motivate a team:
1. Recognize and Reward: Recognition is an excellent motivator. Recognizing team members for their hard work and achievements can motivate them to put in even more effort. Rewards could be anything from bonuses, promotions, and public acknowledgement to a simple "thank you."
2. Set Achievable Goals: Setting achievable goals can help team members feel more motivated. Break down large tasks into smaller, achievable goals to ensure that team members are making progress and have a clear understanding of what is expected of them.
3. Encourage Communication: Effective communication helps to build a more cohesive team. Encourage open communication and actively listen to your team members. Regular feedback sessions and meetings can help build rapport and trust among team members.
4. Provide Training: Investing in team members' professional development can motivate them to work harder. Offering training opportunities helps them to expand their skillset and feel valued by the company.
5. Create a Positive Work Environment: Positive work environments have a significant impact on motivation. Encourage teamwork and cooperation among team members, celebrate successes, and create a welcoming atmosphere in the workplace.
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On August 1, 2024, Trico Technologies, an aeronautic electronics company, borrows $19.3 million cash to expand operations. The loan is made by FirstBanc Corporation under a short-term line of credit arrangement. Trico signs a six-month, 9% promissory note. Interest is payable at maturity. FirstBanc Corporation's year-end is December 31.
Required:
1. to 3. Record the necessary entries in the Journal Entry Worksheet below for FirstBanc Corporation. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not millions (i.e. 5.5 million should be entered as 5,500,000).)
August 1, 2024:
FirstBanc Corporation would record the loan disbursement made to Trico Technologies. The entry would be as follows:
Debit: Cash (19,300,000)
Credit: Notes Payable (19,300,000)
This entry reflects the increase in cash (an asset) and the corresponding increase in notes payable (a liability) for the loan amount.
December 31, 2024:
At the year-end, FirstBanc Corporation needs to accrue the interest earned on the promissory note for the period of August 1 to December 31. The entry would be as follows:
Debit: Interest Receivable (345,750) [($19,300,000 x 9%) x (5/12)]
Credit: Interest Revenue (345,750)
This entry recognizes the interest earned (revenue) and records the corresponding increase in interest receivable (an asset) for the amount accrued but not yet received.
Maturity Date (February 1, 2025):
On the maturity date, when Trico Technologies repays the loan amount along with the accrued interest, FirstBanc Corporation would record the receipt of cash. The entry would be as follows:
Debit: Cash (19,645,750) [$19,300,000 (principal) + $345,750 (interest)]
Credit: Notes Payable (19,300,000)
Credit: Interest Receivable (345,750)
This entry reflects the decrease in notes payable (liability) and interest receivable (asset) and records the receipt of the loan principal and the accrued interest.
These journal entries accurately record the relevant transactions related to the loan arrangement between Trico Technologies and FirstBanc Corporation, ensuring proper accounting and financial reporting.
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Airline scheduling Home exercise 2: scheduling The network has 3 major long-haul connecting (IC) banks at AAA: - IC 1: arriving between 06:30 and 08:00; departing between 09:00 and 11:00 - IC 2: arriving between 11:30 and 13:00; departing between 14:00 and 16:00 - IC 3: arriving between 17:30 and 19:00; departing between 20:00 and 22:00 The airline is considering flying to BBB with an average market of 850 pax one way each The aircraft has a capacity of 165 seats. There are 3 major pax flows: 1) About 35% of the market is point-to point AAA - BBB business related travel. 2) About 25\% is point-to point leisure traffic and 3) 40% is connecting to long haul. The MCT in AAA is 90 minutes between a regional flight to/from long haul flight The flying time between AAA and BBB is 1:25 in each direction The turn-around time for this aircraft is 45 minutes. Airport open: 06:00 -23:00 The planning load factor is 85% (maximum LF before a new frequency is added) Based on this info can you develop a time-table for one day that is fully accomodating these three major passenger flows?
The airport opening hours and the planning load factor of 85% are taken into account when determining the number of flight.
Time-table for AAA-BBB flights:
- Flight 1: Depart AAA at 07:30, arrive BBB at 09:00
- Flight 2: Depart AAA at 10:00, arrive BBB at 11:25
- Flight 3: Depart AAA at 12:30, arrive BBB at 14:00
- Flight 4: Depart AAA at 15:00, arrive BBB at 16:25
- Flight 5: Depart AAA at 18:00, arrive BBB at 19:25
- Flight 6: Depart AAA at 20:30, arrive BBB at 22:00
To accommodate the three major passenger flows, flights are scheduled to align with the long-haul connecting banks at AAA. Flight 1 corresponds to IC 1, Flight 3 corresponds to IC 2, and Flight 5 corresponds to IC 3. The departure times are set based on the arrival times of the connecting banks, allowing sufficient time for passengers to connect. The flying time of 1 hour and 25 minutes is considered, along with the 45-minute turn-around time. The airport opening hours and the planning load factor of 85% are taken into account when determining the number of flights.
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Find an article about a company that is experiencing challenges because of who they endorsed, or product that they are selling that flopped, or service that went bad. Perhaps rumors that are flying around, which are causing problems. How would you rebrand the company?
Summarize their story. Then include what did the company do to remedy their situation. Then briefly explain how you would rebrand the company to improve its image?
1. Company:
2. Headline:
3. Situation:
4. Remedy:
5. Recommendations:
One example of a company that experienced challenges because of who they endorsed is Nike. Nike received backlash from some customers after they made Colin Kaepernick, a former NFL quarterback who protested racial injustice by kneeling during the national anthem, the face of their “Just Do It” campaign.
Some customers even burned their Nike products in protest. To rebrand the company, Nike could focus on promoting the qualities that made the company successful in the first place, such as innovation, quality, and durability. They could also highlight their commitment to social justice issues and work to build partnerships with organizations that align with their values.
Additionally, they could listen to feedback from customers and make changes accordingly to show that they value their opinions. Remedy: Nike can focus on their company values and promote innovation, quality and durability.
They can highlight their commitment to social justice issues and build partnerships with organizations that align with their values. Recommendations: Nike should listen to feedback from customers and make changes accordingly to show that they value their opinions.
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