Benchmarking and environmental audit are two important approaches in business strategy that can contribute to its success.
Benchmarking is a process of comparing an organization's performance, practices, and processes against those of its competitors or industry leaders. It involves identifying the best practices and performance standards in the industry and striving to achieve or surpass them. By benchmarking, businesses can gain insights into areas where they can improve, identify opportunities for innovation, and set performance goals that align with industry standards. This helps in enhancing competitiveness and overall performance.
Environmental audit, on the other hand, focuses on assessing and evaluating a company's environmental impact and performance. It involves examining the organization's practices, policies, and processes to ensure compliance with environmental regulations, identify areas of improvement, and mitigate environmental risks.
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A company has an outstanding issue of $100 par value preferred stock. It recently declared a $12 per share dividend on its common stock. Required: Indicate how much the company will pay in annual per-share preferred dividends in each case.
The question states that the company has an outstanding issue of $100 par value preferred stock and that it recently declared a $12 per share dividend on its common stock.
Based on this information, we can assume that the preferred stock is entitled to a fixed dividend.
To calculate the annual per-share preferred dividends, we need to know the dividend rate or percentage for the preferred stock. Without this information, it is not possible to determine the exact amount of the preferred dividends.
Preferred dividends are usually calculated by multiplying the dividend rate (expressed as a percentage) by the par value of the preferred stock. For example, if the dividend rate is 5% and the par value is $100, the annual per-share preferred dividends would be:
Annual Per-Share Preferred Dividends = Dividend Rate x Par Value
However, since the question does not provide the dividend rate for the preferred stock, it is not possible to calculate the exact amount of the annual per-share preferred dividends in this case.
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A lowering of required reserve ratios by the Federal Reserve would have which of the following effects on the AD/AS diagram? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a shift AS right b shift As left c shift AD right d shift AD left
A lowering of required reserve ratios by the Federal Reserve would shift the AD curve rightward on the AD/AS diagram. The correct option is shift AD right.
Required reserve ratios are the amount of cash that a bank is obliged to hold with the Federal Reserve Bank for a minimum period. Required reserves are a percentage of a bank's total deposit and must be held in either cash in the bank's vault or on deposit with the Federal Reserve bank.
The required reserve ratio is decreased, banks can lend more money, which causes an increase in the money supply. As a result, the aggregate demand curve shifts rightward, indicating that aggregate demand has increased. In other words, when the required reserve ratio is lowered by the Federal Reserve, it stimulates economic growth by lowering the cost of borrowing.
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As the implementation activities have begun, improvements can be shown:
a. Admissions Process: now about 1.6 hours
b. Surgery Setup: now about 2.6 hours
c. Bed Turnaround Time: now about 1.9 hours
d. Discharge Process: now about 4.1 hours
e. Cost Savings: $720,000
The project has progressed, and it has been decided that the consultants support the entire implementation phase. The concepts for the admissions and discharge process contain some software related developments and adjustments that require IT resources to fully exploit the identified potential. The Head of the IT already indicated that he might not have the resources available, so other ideas need to be developed and the issue needs to be discussed.
You are also thinking about the closing of the project in a few weeks and which approach might be the best to ensure sustained results.
Original Estimates:
a. Admissions Process: currently about 2.4 hour
b. Surgery Setup: currently about 4.2 hours
c. Bed Turnaround Time: currently about 3.5 hours
d. Discharge Process: currently about 7.6 hours
Question: Show the progress and remaining gaps of each process
Admissions process progress: Improved by 0.8 hours, with a remaining gap of 0.8 hours.
Surgery Setup progress: Improved by 1.6 hours, with a remaining gap of 1.6 hours.
Bed Turnaround Time progress: Improved by 1.6 hours, with a remaining gap of 1.6 hours.
Discharge Process progress: Improved by 3.5 hours, with a remaining gap of 3.5 hours.
Cost savings: $720,000 achieved.
Progress and remaining gaps of each process can be shown as follows;
Admissions process progress: The admissions process has progressed, and improvements can be seen. It currently takes about 1.6 hours, which is an improvement of 0.8 hours from the original estimate. The remaining gap is 0.8 hours.
Surgery Setup progress: The Surgery Setup has improved, and improvements can be seen. It currently takes about 2.6 hours, which is an improvement of 1.6 hours from the original estimate. The remaining gap is 1.6 hours.
Bed Turnaround Time progress: The Bed Turnaround Time has improved, and improvements can be seen. It currently takes about 1.9 hours, which is an improvement of 1.6 hours from the original estimate. The remaining gap is 1.6 hours.
Discharge Process progress: The Discharge process has improved, and improvements can be seen. It currently takes about 4.1 hours, which is an improvement of 3.5 hours from the original estimate. The remaining gap is 3.5 hours.
Cost savings: A cost savings of $720,000 has been achieved as the project progresses.
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The SARB is responsible for the monetary policy of SA. Monetary policy ensures that measures are taken to influence the quantity of money. Its aim is to achieve price stability and facilitating full employment and promote economic growth. Discuss this statement.
Include in your answer the functions of the SARB, identify the ways that it could decrease or increase credit and lastly, discuss what measures can be implemented during a recession. [20]
Please take note of the mark allocation for this question.
The SARB can implement policies to stimulate economic activity and provide liquidity support to the financial system. By effectively managing monetary policy, the SARB aims to achieve its objectives of price stability, full employment, and economic growth.
The South African Reserve Bank (SARB) plays a crucial role in formulating and implementing monetary policy in South Africa. The primary objective of monetary policy is to maintain price stability, promote economic growth, and facilitate full employment. The SARB carries out various functions to achieve these goals.
Firstly, the SARB controls the money supply in the economy. It can decrease credit by implementing measures such as increasing interest rates, which makes borrowing more expensive and reduces the availability of credit. This helps to control inflation and prevent excessive growth in the money supply. On the other hand, the SARB can increase credit by lowering interest rates, which stimulates borrowing and economic activity. This is done to encourage investment, consumer spending, and economic growth.
During a recession, when the economy is facing a downturn, the SARB can implement several measures to mitigate the negative impact. One approach is to decrease interest rates to stimulate borrowing and investment, which helps to boost economic activity. Additionally, the SARB can provide liquidity support to banks and financial institutions to ensure the smooth functioning of the financial system. This can be done through open market operations, where the SARB purchases government bonds or other securities from banks, injecting liquidity into the system. The SARB can also adjust reserve requirements for banks, allowing them to hold lower reserves and free up more funds for lending.
In summary, the SARB's functions include controlling the money supply, maintaining price stability, and promoting economic growth. It can decrease or increase credit through interest rate adjustments and other measures. During a recession, the SARB can implement policies to stimulate economic activity and provide liquidity support to the financial system. By effectively managing monetary policy, the SARB aims to achieve its objectives of price stability, full employment, and economic growth.
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what is the significance of artifacts in organizational culture?
Artifacts in organizational culture are significant because they represent visible and tangible elements such as symbols, language, physical spaces, and rituals that reflect the underlying values, beliefs, and norms of the organization, influencing employee behavior and shaping the organizational identity.
Artifacts serve as powerful communication tools, providing cues and meaning to employees and external stakeholders about what is important and valued within the organization. They help create a sense of shared identity and purpose, fostering a cohesive culture and guiding employee behavior. Artifacts also act as a social glue, reinforcing cultural norms and facilitating socialization processes within the organization.
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The Saint Lucia Blood Bank, a private charity partly supported by government grants, is located on the Caribbean island of Saint Lucia. The blood bank has just finished its operations for September, which was a very busy month due to a powerful hurricane that hit neighboring islands causing many injuries. The hurricane largely bypassed Saint Lucia, but residents of Saint Lucia willingly donated their blood to help people on other islands. As a consequence, the blood bank collected and processed over 20% more blood than had been originally planned for the month.
A report prepared by a government official comparing actual costs to budgeted costs for the blood bank appears below. Continued support from the government depends on the blood bank’s ability to demonstrate control over its costs.
The managing director of the blood bank was very unhappy with this report, claiming that his costs were higher than expected due to the emergency on the neighboring islands. He also pointed out that the additional costs had been fully covered by payments from grateful recipients on the other islands. The government official who prepared the report countered that all of the figures had been submitted by the blood bank to the government; he was just pointing out that actual costs were a lot higher than promised in the budget.
Required:
Complete the flexible budget performance report for September. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
The actual net operating income for the month is $14,600, which is $800 more than what was budgeted. Since the actual net operating income is more than what was budgeted, it is a favorable variance.
The required solution is: Favorable (F) or Unfavorable (U) variances Flexible Budget Performance Report (for the month ended September 30)Total Revenue Actual Results$38,600Flexible
Budget$38,000U$600 Unfavorable Expenses Wages and
salaries$16,000$16,200U$200 Unfavorable Donations $1,000$800F$200 Favorable Supplies 2,5002,700U200 UnfavorableRent4,5004,500NoneTotal Expenses $24,000$24,200U$200 Unfavorable Net Operating Income$14,600$13,800F$800FavorableE
For this question, we need to calculate the variance for each expense and revenue item and include them in the flexible budget performance report. The flexible budget performance report for the Saint Lucia Blood Bank for the month ended September 30 is presented below; Flexible Budget Performance Report (for the month ended September 30)Total Revenue Actual Results:
$38,600Flexible Budget: $38,000U: $600 (Unfavorable)
The actual revenue is more than what the blood bank has budgeted for. The actual revenue is
$38,600, which is $600
more than what they planned in their budget. Expenses: Wages and salaries Actual
Results: $16,000Flexible Budget: $16,200U: $200 (Unfavorable)Explanation: The actual cost of wages and salaries for the month is $16,000, which is $200 less than what was budgeted. Since the actual cost is lower than what was budgeted, it is a favorable variance. Donations Actual Results:
$1,000Flexible Budget: $800F:
$200 (Favorable) The blood bank has received more donations than what they had planned. The actual donations received in September are $1,000, which is $200 more than what was budgeted. Since the actual cost is more than what was budgeted, it is a favorable variance. Supplies Actual Results:
$2,500Flexible Budget: $2,700U: $200
(Unfavorable)Explanation: The actual cost of supplies for the month is $2,500, which is $200 less than what was budgeted. Since the actual cost is lower than what was budgeted, it is a favorable
variance. Rent Actual Results: $4,500Flexible Budget: $4,500NoneExplanation: The actual rent for the month is $4,500, which is equal to what was budgeted. Since the actual cost is equal to what was budgeted, there is no variance.
Total Expenses Actual Results: $24,000Flexible Budget: $24,200U: $200 (Unfavorable)Explanation: The total actual expenses for the month are $24,000, which is $200 less than what was budgeted. Since the actual expenses are less than what was budgeted, it is a favorable variance. Net Operating Income Actual Results: $14,600Flexible Budget: $13,800F: $800 (Favorable)
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Will bomb sniffing dogs find themselves out of work? Technology originally being developed to identify chemicals or explosives in airports planes is now being repurposed to seek and find people carrying coronavirus. Airbus and California tech start-up, Koniku, are developing a contactless screening sensor that can detect the presence of COVID-19 in people's breath or sweat, even if they are unaware that they are infected. Sensors can be mounted on airport or airplane walls. An alarm v sound if an infected person walks by. Testing in airports could begin as early as the end of the year. Where in the product life cycle is the idea of using smell sensors to detect disease?
The idea of using smell sensors to detect disease, specifically COVID-19 in this case, can be considered in the early stages of the product life cycle.
In the context of using smell sensors for disease detection, we can analyze its position in the product life cycle as follows: This is the initial stage where the concept or technology is being developed and tested. In the case of using smell sensors for disease detection, the concept is still relatively new and is being explored as a potential solution. Airbus and Koniku are in the process of developing and testing the contactless screening sensor, which suggests that it is in the introductory phase. Based on the information provided, the idea of using smell sensors to detect disease is still in the early stages of development and testing. It has not yet reached widespread adoption or maturity. The success and future trajectory of this technology will depend on factors such as its accuracy, reliability, cost-effectiveness, and public acceptance.
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Uno Company sold office equipment with a cost of $23,000 and accumulated depreciation of $12,000 for $14,000 Required a. What is the book value of the asset at the time of sale? b. What is the amount of gain or loss on the disposal? (Loss amount should be indicated with a minus sign.) c. How would the sale affect net income (increase, decrease, no effect) and by how much? d. How would the sale affect the amount of total assets shown on the balance sheet (increase, decrease, no effect) and by how muc e. How would the event affect the statement of cash flows (inflow, outflow, no effect) and in what section?
a)Book value of asset at time of sale is $11,000. b)Loss on disposal amounts to $12,000. c) Sale would decrease net income by $12,000. d) Sale would decrease amount of total assets on balance sheet by $11,000.
A) The book value of the asset at the time of sale is calculated by subtracting the accumulated depreciation ($12,000) from the cost of the asset ($23,000), resulting in a book value of $11,000 ($23,000 - $12,000). B) The loss on the disposal is determined by subtracting the selling price ($14,000) from the book value ($11,000). Since the selling price is lower than the book value, there is a loss of $12,000 ($14,000 - $11,000), indicated with a minus sign. C) The sale of the equipment would decrease net income by the amount of the loss on disposal, which is $12,000. Net income is reduced because the sale proceeds ($14,000) are less than the book value ($23,000).
D) The sale would decrease the amount of total assets shown on the balance sheet by the book value of the asset sold, which is $11,000. The sale reduces the value of the asset on the balance sheet since it is no longer owned by the company. E) The event of selling the equipment would have no effect on the statement of cash flows since it involves a non-cash item (disposal of an asset). Therefore, there would be no inflow or outflow of cash, and the event is not reported in any specific section of the statement of cash flows.
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Garden Gloves Company has issued 50,000 ordinary shares of 50 cents each and 20,000 7% preference shares of $1 each. It profits after taxation for the year to 30 September 20X5 were $8,400. The management board has decided to pay an ordinary dividend which is 50% of profits after tax and preference dividend
Required: Show the amount in total dividends ad of retained profits, and calculate the dividend per share on ordinary shares.
Given Information:
Garden Gloves Company has issued 50,000 ordinary shares of 50 cents each and 20,000 7% preference shares of $1 each.It profits after taxation for the year to 30 September 20X5 were $8,400. The management board has decided to pay an ordinary dividend which is 50% of profits after tax and preference dividend.
Findings: 1. Total dividends paid to preference shareholders. 2. Total dividends paid to ordinary shareholders. 3. Retained profits. 4. Dividend per share on ordinary shares.
Solution: 1. Total dividends paid to preference shareholdersNumber of preference shares = 20,000 Nominal Value of each preference share = $1 Total nominal value of preference shares = Number of preference shares × Nominal value of each preference shareTotal nominal value of preference shares = $1 × 20,000 Total nominal value of preference shares = $20,000 Preference dividend rate = 7%
Therefore, Preference dividend = Preference dividend rate × Total nominal value of preference shares Preference dividend = 7% × $20,000 Preference dividend = $1,400
2. Total dividends paid to ordinary shareholders Number of ordinary shares = 50,000 Nominal value of each ordinary share = 50 cents Nominal value of each ordinary share = $0.50 Total nominal value of ordinary shares = Number of ordinary shares × Nominal value of each ordinary share Total nominal value of ordinary shares = $0.50 × 50,000 Total nominal value of ordinary shares = $25,000 Total profits after tax = $8,400 Total dividend (ordinary shares) = 50% of total profits after tax Total dividend (ordinary shares) = 50% × $8,400 Total dividend (ordinary shares) = $4,200
3. Retained profits Retained profits = Total profits after tax - Preference dividend - Total dividend (ordinary shares)Retained profits = $8,400 - $1,400 - $4,200Retained profits = $2,8004. Dividend per share on ordinary sharesDividend per share on ordinary shares = Total dividend (ordinary shares) / Number of ordinary sharesDividend per share on ordinary shares = $4,200 / 50,000Dividend per share on ordinary shares = $0.08
4 Dividend per share on ordinary shares = 8.4 centsTherefore, the amount of total dividends paid as of retained profits is $5,600 and the dividend per share on ordinary shares is 8.4 cents.
Dividend: A dividend is a cash or other reward that a business gives to its shareholders. Profits can be given in different structures, like money installment, stocks or some other structure. The dividend of a company is decided by the board of directors, and shareholders must approve it.
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All insurance agents in an office are expected to complete 15 calls a day and close at least one sale. Their bonus is dependent on this. In this case, managers are using _______ appraisals to evaluate performance.
subjective
situational
objective
trait
behavioral
In the given scenario, where all insurance agents are expected to complete 15 calls a day and close at least one sale, and their bonus is dependent on this. Managers are using Option C. objective appraisals to evaluate performance.
What are objective appraisals?
Objective appraisals are assessments that are free from personal prejudices, biases, and opinions. This means that objective appraisals concentrate solely on work-related behaviours and outcomes, not personal characteristics or traits. Objective appraisals of performance are based on what individuals have done and how they have accomplished their work. As a result, objective appraisals are more precise and less prone to error since they are focused on specific, measurable outcomes.
What are the advantages of objective appraisals?
The advantages of objective appraisals are: They are very accurate and precise as they are based on specific, measurable outcomes. It is free from personal biases and prejudices. Managers can identify the strengths and weaknesses of employees' job performance. It gives employees a better understanding of how their performance is being evaluated by management. Therefore the correct option is C
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Fast Speed Berhad is determined to cut costs and is anticipating introducing a just-in-time inventory system. It provides the following information about its inventory and asks for a recommendation on how to control these inventory levels in the most optimal way. The following information is relevant: Orders have to be in multiples of 400 Annual usage is 1,000,000 units Use 50 weeks as a year in your calculations as the business shuts for 2 weeks during the year. Carrying cost 50% of the purchase price of the goods The purchase price is $40 per unit The ordering cost is $120 per order The safety stock limit is 8,000 units Delivery time is 1 week. IL III. B) finance. Compute the Economic Ordering Quantity (EOQ) level. I Compute the average inventory level. Compute at what level of inventory should the firm place an order, Explain the main elements of financial policy that a firm adopts for short-term.
Calculating the Economic Ordering Quantity (EOQ) level might be the first step in determining the best way to regulate inventory levels. The following is the EOQ formula:
EOQ is calculated as follows: ((2 * Annual Usage * Ordering Cost) / Carrying Cost per Unit)
Given the information below:
1,000,000 units are used annually. The ordering cost is $120 every order. The carrying cost is 50% of the purchasing price, or $40 per unit.
EOQ formula with the values entered:
EOQ = (2 * 1,000,000 * 120) / (0.5 * 40) = 24,000,000, or approximately 4,898 units.
The average inventory level can then be determined by multiplying the EOQ by 2:
Average Inventory Level is equal to EOQ / 2 (4,898 / 2 = approximately 2,449 units).
The safety stock limit and the delivery window must be taken into account when determining the reorder point.
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Inviting a Speaker Analyze the following poorly written invitation. List its weaknesses and outline a writing strategy. Dear Dr. Schulz: Because you’re a local Nanaimo author, we thought it might not be too much trouble for you to speak at our Canadian Association of Independent Management banquet May 5. Some of us business students here at Glenbow Valley College admired your book Beyond Race and Gender, which appeared last spring and became such a hit across the country. One of our instructors said you were now the country’s management guru. What exactly did you mean when you said that Canada is the "Mulligan stew" of the Americas?
The invitation is poorly written because of its lack of professionalism, vagueness, and lack of clarity. It is necessary to structure the invitation better and make it more professional by including proper formal language and ensuring that the tone is friendly and respectful.
Additionally, it is important to be clear and specific in what you're asking the person to do and when the event is taking place. The following writing strategy can be followed for creating an inviting speaker letter:Be professional and polite in your tone. The letter should be written in a professional and polite tone. The tone should be engaging and should encourage the recipient to attend the event. Be clear in what you are asking for. Be specific and clear in the purpose of the letter. State what the event is, the date, time, and location.
The invitation should clearly state what you are asking the recipient to do. Avoid Vagueness. The invitation should avoid vagueness and ambiguity. Be specific and to the point. Highlight the benefits. Highlight the benefits of attending the event. Explain what the attendees will gain by attending the event. Proofread your letter. Make sure your letter is well-written, free from grammatical and spelling errors. Keep the letter short. Keep the letter brief and concise. Don't include too much unnecessary information.
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VaughnFurniture Company started construction of a combination office and warehouse building for its own use at an estimated cos of $7,000,000 on January 1, 2020. Vaughn expected to complete the building by December 31,2020 . Vaughn has the following debt obligations outstanding during the construction period. Construction loan-12\% interest, payable semiannually, issued December 31, 2019 $2,800,000 Short-term loan-10\% interest, payable monthly, and principal payable at maturity on May 30,2021 2,100,000 Long-term loan-11\% interest, payable on January 1 of each year. Principal payable on January 1, 2024 1,400,000 Assume that Vaughn completed the office and warehouse building on December 31, 2020, as planned at a total cost of $7,280,000, and the weighted-average amount of accumulated expenditures was $5,040,000. Compute the avoidable interest on this project.
VaughnFurniture Company started construction of a combination office and warehouse building for its own use at an estimated cos of $7,000,000 on January 1, 2020 , the avoidable interest on this construction project is $560,444.
To compute the avoidable interest on the construction project, we need to calculate the weighted-average accumulated expenditures and apply the appropriate interest rates to the outstanding debt obligations during the construction period. Here's how we can determine the avoidable interest:
Step 1: Calculate the weighted-average accumulated expenditures:
Weighted-average accumulated expenditures = Total accumulated expenditures * (time-weighted factor)
In this case, the total accumulated expenditures are $5,040,000, and the time-weighted factor is the proportion of time elapsed during the construction period (2020).
The time-weighted factor is calculated as follows:
Time-weighted factor = (number of months in the construction period) / 12
Time-weighted factor = 12 / 12 = 1
Therefore, the weighted-average accumulated expenditures = $5,040,000 * 1 = $5,040,000.
Step 2: Calculate the avoidable interest:
Avoidable interest = Weighted-average accumulated expenditures * Weighted-average interest rate
To determine the weighted-average interest rate, we need to consider the outstanding debt obligations and their respective interest rates during the construction period.
For the construction loan issued on December 31, 2019:
Interest rate = 12%
Principal amount = $2,800,000
For the short-term loan:
Interest rate = 10%
Principal amount = $2,100,000
For the long-term loan:
Interest rate = 11%
Principal amount = $1,400,000
Weighted-average interest rate = (Interest expense from each loan / Total outstanding debt) * 100
Weighted-average interest rate = [(($2,800,000 * 12%) + ($2,100,000 * 10%) + ($1,400,000 * 11%)) / ($2,800,000 + $2,100,000 + $1,400,000)] * 100
Weighted-average interest rate = (336,000 + 210,000 + 154,000) / 6,300,000 * 100
Weighted-average interest rate = 700,000 / 6,300,000 * 100
Weighted-average interest rate = 11.11%
Avoidable interest = $5,040,000 * 11.11%
Avoidable interest = $560,444
Therefore, the avoidable interest on this construction project is $560,444.
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ou have been given weekly historical foreign exchange rates for Chinese yuan (CNY), Euro (EUR), Japanese yen (JPY), Thailand Baht (THB) and United State dollar(USD) for the three years ending 31st March 2022 ( from 1st April 2019) (Group Assignment Data for 2022S1B4 (1).xlsx) Out of the four foreign currencies mention above, select three currencies (including USD) and plot them on a a line chart and identify any significant currency value movements in AUD. Briefly explain the probable causes for any significant movements of AUD value (you need to provide justification).
3. Use the information you gathered on charts to justify your explanations on the current and the proposed international invoicing policy of VMSL.
Foreign exchange refers to the conversion of one country's currency into another country's currency. It's the most actively traded market in the world, with an average daily trading volume of $6.6 trillion.
It's crucial for international trade as businesses must exchange currencies to conduct foreign trade and business. The value of currencies fluctuates due to supply and demand, government policies, economic performance, and geopolitical events. In this assignment, the weekly historical foreign exchange rates for Chinese yuan (CNY), Euro (EUR), Japanese yen (JPY), Thailand Baht (THB), and United State dollar (USD) for the three years ending 31st March 2022 have been given.
Select three currencies (including USD) and plot them on a line chart to identify any significant currency value movements in AUD. AUD is Australia's currency, and its value is influenced by global market events. From the provided data, we can see that the USD and JPY have been relatively stable over the past three years, while the CNY, EUR, and THB have fluctuated considerably.
The CNY appreciated in value against the AUD in early 2020, coinciding with the COVID-19 pandemic's onset, which affected the global economy and caused investors to move their funds to safer currencies such as the USD. Similarly, the EUR appreciated in late 2020, coinciding with the Brexit deal, which caused uncertainty in the market.
The THB depreciated in mid-2019, which was due to the country's political uncertainty.
VMSL is an Australian company involved in international trade and business. The current invoicing policy is to use the AUD for all transactions. However, given the volatility of the AUD and the potential for significant fluctuations in exchange rates, it is recommended that VMSL adopt a multi-currency invoicing policy. This would allow VMSL to invoice clients in their preferred currency, reducing the risk of exchange rate fluctuations.
In conclusion, the foreign exchange market is essential for international trade and business. The value of currencies fluctuates due to supply and demand, government policies, economic performance, and geopolitical events. The USD and JPY have been relatively stable over the past three years, while the CNY, EUR, and THB have fluctuated considerably. VMSL should adopt a multi-currency invoicing policy to reduce the risk of exchange rate fluctuations.
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When a company offers a ________, this event does NOT require a formal journal entry on a corporation's books.
A. $1.00 per share cash dividend
B. 100% stock dividend
C. 2 for 1 stock split
D. 2% stock dividend
When a company offers a 100% stock dividend, this event does not require a formal journal entry on a corporation's books. A 100% stock dividend is when a company distributes additional shares of stock to its existing shareholders on a pro-rata basis.
It means that shareholders receive additional shares of stock in the company equal to their current holdings, effectively doubling the number of shares they own. Since a 100% stock dividend does not involve any cash outflow or inflow, it does not impact the company's cash or other financial accounts. Instead, it represents a redistribution of equity among the shareholders. As a result, there is no need for a formal journal entry to record this event
In contrast, other events such as a $1.00 per share cash dividend, a 2 for 1 stock split, or a 2% stock dividend would require formal journal entries. These events involve changes in the company's financial accounts, such as cash distributions to shareholders or adjustments to the number of shares outstanding. Therefore, they require appropriate accounting entries to reflect these changes accurately.
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Every business plan includes an organization plan, a marketing plan, and a financial plan. What information is needed to prepare the organization's business plan? What is included in the executive summary? What important questions are answered in the business plan for the healthcare organization?
Every business plan should include an organizational plan, a marketing plan, and a financial plan.
Below are the information required to prepare an organizational plan and the important questions that are answered in the business plan for the healthcare organization;Information Required to Prepare the Organizational Plan:Name of the companyOwner/s or management teamJob description and responsibilities of each employeeCorporate mission statement and objectivesDescription of the organizational structureDescription of products and services offeredMarketing planAn analysis of the target marketA competition analysisDescription of marketing strategies to be usedSales strategiesA financial planBudget estimateIncome statementCash flow projectionsReturn on investmentSales forecast.
The executive summary is a brief summary of the entire business plan and includes the following;An overview of the businessThe target marketDescription of products and services providedFinancial summary of the companyGoals and objectivesQuestions Answered in the Business Plan for the Healthcare Organization:What healthcare services do we offer?Who are our target patients and healthcare organizations?What is our unique selling proposition?What market needs does our business address?What is the business’ long-term vision?What strategies will be used to reach out to customers?What are the revenue streams of the healthcare organization?What marketing tactics will be utilized?What are the competitive advantages of the healthcare organization?
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The recommended procedure for handling billing inquiries is to ____.
The recommended procedure for handling billing inquiries is to listen to the customer's complaint, then acknowledge the complaint, investigate, provide a solution or explanation and close the call.
The process should be handled with the utmost professionalism to ensure customer satisfaction.
What are billing inquiries?
Billing inquiries are requests for clarification or investigation of a customer's billing statement. A customer may call a company to inquire about their bill if they believe they were overcharged or if they have questions about their bill. Additionally, billing inquiries may occur if the customer's bill does not reflect the products or services they have received from the company.
The procedure for handling billing inquiries is critical to ensuring customer satisfaction. Customers who have concerns regarding their bill expect professional and prompt resolution of their issues. Companies should have well-defined procedures for handling billing inquiries to ensure that customers are satisfied with the outcome.In most cases, the recommended procedure for handling billing inquiries is to listen to the customer's complaint, then acknowledge the complaint, investigate, provide a solution or explanation and close the call. The process should be handled with the utmost professionalism to ensure customer satisfaction.
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1. A bill of sale is used to transfer the ownership of what?
2. When supply equals demand in an open air market is known as
1. A bill of sale is a legal document used to transfer ownership of an asset from one person or entity to another.
The asset may be a piece of property, a vehicle, or any other item that has value and can be sold.
The bill of sale serves as proof of the transaction and includes information about the buyer, seller, and the item being sold.
2. When supply equals demand in an open air market is known asWhen the supply equals demand in an open-air market, it is called the equilibrium price.
Equilibrium is a situation in which the quantity of a good or service supplied is equal to the quantity demanded.
At equilibrium, there is no excess supply or excess demand, and the market is in a state of balance.
The price at which this occurs is known as the equilibrium price, and it is determined by the interaction of buyers and sellers in the market.
If the price is below the equilibrium price, there will be excess demand, and if it is above the equilibrium price, there will be excess supply.
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Which of the following is true of unsystematic risk?
a.) It can be minimized when investment correlations are at zero or even slightly positive.
b.) It is more tightly linked to the market as a whole than systematic risk.
c.) It is also known as non-diversifiable risk.
d.) It is unaffected by the level of diversification within a portfolio.
Option d is the correct option. The statement "It is unaffected by the level of diversification within a portfolio" is true of unsystematic risk.It is also known as company-specific risk or idiosyncratic risk, and it can be diversified through investment diversification within a portfolio.Unsystematic risk is unique to a specific business or industry. It is a form of internal risk that exists within a single company or industry and is not influenced by broader economic conditions like systematic risk. Systematic risk, on the other hand, is a type of market risk that is present in the entire market or market segment, affecting all companies. It is also known as non-diversifiable risk.Unsystematic risk can be minimized through diversification, which involves investing in a wide variety of companies or industries. However, diversification has no impact on systematic risk. Therefore, statement d) "It is unaffected by the level of diversification within a portfolio" is true of unsystematic risk.
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Unsystematic risk, specific to a particular company or industry, can be minimized via diversification of an investment portfolio. It is less linked to the entire market compared to systematic risk and is also known as 'diversifiable' or 'specific' risk.
Explanation:In the context of investments, unsystematic risk is a type of risk that is specific to a particular company or industry and thus can be reduced or eliminated through diversification of an investment portfolio. Therefore, the correct answer to your question is option a.) It can be minimized when investment correlations are at zero or even slightly positive.
Unsystematic risk is not closely tied to the workings of the entire market, unlike systematic risk which is inescapable and affects all investments. This is why unsystematic risk is also sometimes referred to as 'diversifiable risk' or 'specific risk', as it can be mitigated by investing in a variety of different assets rather than placing all your money into a single investment.
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Draw a graph of the market for heaters in a town after a snow storm. Assume the equilbrium price is $360 and the equilibrium quantity is 100 heaters. Assume a free market for heaters after the storm would have a new equilibrium price of $1000 and new equilibrium quantity of 3000 heaters. Assume the marginal benefit of the 100th heater after the storm is $2500. Draw the supply and demand curves and draw how the demand for heaters increased after the snow storm.
The demand curve would shift to the right, indicating an increase in demand after the snowstorm, leading to a higher equilibrium price and quantity.
In the initial equilibrium, the supply and demand curves intersect at a price of $360 and a quantity of 100 heaters. This represents the market equilibrium before the snowstorm. After the snowstorm, the demand for heaters increases significantly. This would be represented by a rightward shift of the demand curve. The new equilibrium would occur at a higher price and quantity. Given that the new equilibrium price is $1000 and the new equilibrium quantity is 3000 heaters, we can see that the demand curve has shifted to intersect the supply curve at this new point. To indicate the increased demand, the demand curve would shift to the right, reflecting the greater quantity demanded at each price level. This shift signifies that consumers are willing to pay higher prices to acquire heaters due to the increased demand after the snowstorm. The marginal benefit of the 100th heater after the storm being $2500 suggests that consumers are willing to pay a higher price to obtain additional heaters. This is reflected in the new equilibrium price of $1000.
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Which method of deprecation calculates a different depreciation expense based on the assets use? Declining Balance Units of Production Straight Line
The method of depreciation that calculates a different depreciation expense based on the asset's use is the Units of Production method.
This method determines depreciation by considering the asset's actual usage or production output during a given period.
The Units of Production method calculates depreciation based on the asset's usage, such as the number of units produced, hours of operation, or mileage driven. Instead of using a fixed time period or a fixed percentage of the asset's cost, this method links the depreciation expense directly to the asset's usage. It is commonly used for assets that have a significant correlation between their usage and their wear and tear or obsolescence.
Under the Units of Production method, the depreciation expense will vary from period to period based on the asset's usage. The formula used to calculate depreciation is:
Depreciation Expense = (Cost - Salvage Value) x (Units Produced / Total Expected Units)
This method allows for a more accurate allocation of depreciation based on the asset's actual utilization, making it suitable for assets such as manufacturing equipment, vehicles, or machinery.
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Consider the economic impact of the political ideology of: i. Michael Manley (6 marks) ii. Edward Seaga
Evaluate the influence of TWO (2) major Jamaican organisations on the Jamaican society. Attribute one organisation to each leader at A.
Political ideology of Michael Manley and Edward SeagaJamaica is one of the most intriguing and captivating countries in the Caribbean region.
It has a unique culture, political history, and economic trajectory that are worth studying. The political ideology of Michael Manley and Edward Seaga had an economic impact on the Jamaican economy, which is discussed below:Political ideology of Michael ManleyMichael Manley was a Jamaican socialist politician who served as Prime Minister of Jamaica twice.The JLP has been criticized for not doing enough to help the poor and the working class.
The PNP, on the other hand, has been associated with socialist policies, income redistribution, and land reform. These policies have helped to reduce inequality and empower the poor and the working class. However, they have also led to economic stagnation, hyperinflation, and foreign debt. The PNP has been criticized for not doing enough to encourage private investment and entrepreneurship.
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Seven years ago, ABC Company sold bonds with ten-year maturity, an 8.0 percent coupon rate and a $1,000 face value. If the yield to maturity on the bond is 10 percent, calculate the price of the bond assuming that the bond makes semiannual coupon payments. Show your work below.
The Price of the bond, assuming semiannual coupon payments, would be approximately $860.
The price of the bond, assuming semiannual coupon payments, would be approximately $860.09.
to calculate the price of the bond, we need to find the present value of the future cash flows, which include the semiannual coupon payments and the face value.
step 1: calculate the semiannual coupon payment.
coupon payment = coupon rate * face value / 2coupon payment = 0.08 * $1,000 / 2
coupon payment = $40
step 2: calculate the number of semiannual periods.number of periods = 10 years * 2 (semiannual payments per year)
number of periods = 20
step 3: calculate the present value of the semiannual coupon payments.pv of coupon payments = coupon payment * [1 - (1 + yield to maturity / 2/ (yield to maturity / 2)
pv of coupon payments = $40 * [1 - (1 + 0.10 / 2)⁽⁻²⁰⁾] / (0.10 / 2)pv of coupon payments = $606.63
step 4: calculate the present value of the face value.
pv of face value = face value / (1 + yield to maturity / 2)pv of face value = $1,000 / (1 + 0.10 / 2)⁽²⁰⁾
pv of face value = $253.46
step 5: calculate the total price of the bond.bond price = pv of coupon payments + pv of face value
bond price = $606.63 + $253.46bond price ≈ $860.09 09.
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Show the relationship between financial markets, instruments and financial institutions using a diagramme or a model to reflect your understanding. Be sure to explain your model and the relationship between the parts
Financial markets, instruments, and institutions form a complex ecosystem, with each component relying on and influencing the others. Financial institutions bridge the gap between savers and borrowers, using financial instruments available in the markets to facilitate capital allocation and wealth creation.
Financial markets are platforms where buyers and sellers trade financial assets such as stocks, bonds, currencies, and commodities. These markets facilitate the flow of funds between borrowers (such as individuals, corporations, and governments) and lenders (such as investors and financial institutions). Financial instruments, on the other hand, are the specific contracts or securities that represent ownership, debt, or other financial rights. Examples include stocks, bonds, derivatives, and mutual funds.
Financial institutions play a crucial role in connecting financial markets and instruments. They act as intermediaries by providing various financial services, including lending, investing, and facilitating transactions. These institutions include banks, credit unions, insurance companies, investment banks, pension funds, and asset management firms. They gather funds from savers and channel them towards borrowers and investment opportunities.
The relationship between these components can be explained as follows: Financial institutions participate in financial markets as both buyers and sellers of financial instruments. For example, banks issue loans (financial instruments) to borrowers and also invest in stocks or bonds (financial instruments) for their own portfolios. Financial institutions also provide liquidity to the markets by acting as market makers, facilitating trading and ensuring there are buyers and sellers for various financial instruments.
Furthermore, financial markets provide a platform for investors and financial institutions to buy and sell financial instruments, enabling them to manage their portfolios and generate returns. Investors can access financial instruments through these markets, while financial institutions use their expertise to assess risks and make investment decisions.
Overall, financial markets, instruments, and institutions form a complex ecosystem, with each component relying on and influencing the others. Financial institutions bridge the gap between savers and borrowers, using financial instruments available in the markets to facilitate capital allocation and wealth creation. The interactions and relationships among these elements are crucial for the efficient functioning of the overall financial system.
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a. Whose supply chain re-engineering strategy is a short-term solution and whose is a long-term solution?
b. What are the pros and cons of these strategies?
A short-term solution for supply chain re-engineering provides immediate relief and resolves urgent issues, but it may lack sustainability. In contrast, a long-term solution aims for comprehensive transformation, offering sustained improvements and competitive advantages, but it requires significant investments and commitment.
a. A short-term solution for supply chain re-engineering strategy is typically focused on immediate improvements and quick fixes to address specific issues or challenges. This approach aims to provide immediate relief and resolve urgent problems in the supply chain. On the other hand, a long-term solution for supply chain re-engineering involves a more comprehensive and strategic approach that aims to transform the entire supply chain system to achieve sustained improvements and competitive advantage in the long run.
b. The short-term solution for supply chain re-engineering offers several benefits. It can quickly address pressing issues and alleviate immediate challenges, providing immediate relief and minimizing disruptions. It also allows organizations to make rapid adjustments and adapt to changing market conditions. However, the short-term approach may have limitations as it focuses on quick fixes without addressing underlying systemic issues. It may not provide sustainable improvements or long-term competitive advantages.
In contrast, the long-term solution for supply chain re-engineering offers significant advantages. It involves a holistic and strategic approach to identify and address root causes, optimize processes, and leverage advanced technologies. This approach can lead to substantial efficiency gains, cost reductions, and improved customer satisfaction. By focusing on long-term transformation, organizations can build resilience, agility, and competitive advantage. However, the long-term strategy requires substantial investments, time, and organizational commitment. It may also involve complex changes and require collaboration across various stakeholders.
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If a firm has an after-tax profit margin of 5%, an asset turnover of 2.5 times, and no debt, the return on equity is: ________
a. 2% b. 8.5% c. 12.5%
The return on equity (ROE) for the firm with an after-tax profit margin of 5%, an asset turnover of 2.5 times, and no debt is 12.5%.
Return on equity (ROE) is a financial ratio that measures the profitability of a company in relation to its shareholders' equity. It indicates how effectively the firm is generating profits from the investment of its shareholders.
To calculate ROE, we multiply the after-tax profit margin by the asset turnover. The after-tax profit margin is given as 5%, which is equivalent to 0.05. The asset turnover is 2.5 times.
ROE = After-tax Profit Margin * Asset Turnover
Substituting the given values, ROE = 0.05 * 2.5 = 0.125, or 12.5%.
Therefore, the return on equity (ROE) for the firm is 12.5%. This means that for every dollar of shareholders' equity invested in the firm, it generates a return of 12.5 cents in profit. This indicates relatively efficient utilization of the firm's assets and reasonable profitability for the shareholders.
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Refer to the stock opticis on Microwoft in the Eourez 210 Suppose you buy a Novemoer expiration call opeion on 200 shares with the excise price of 5135 . Required: a-1. If the stock price at option expiration is 5143 , will you exercife your call? Yes No a-2. What is the net profitioss on your position? (finput the amount as a positive value.) a-3. What is the rate of return on your position? (Negative value should be indicated by a minus slgn. Round your answer to 2 . decimal places.) b-1. Would you exeroise the cal if you had bough the November call wah the esercise price $130 ? Yes No b-2. What is the net profthoss on yout posison? (input the amourit as a positive value) Yes b-2. What is the net profitioss on your position? (input the amount as a positive value.) b-3. What is the rate of return on your position? (Negative value should be indicated by a minus sign. Round your answer to 2 decimal places.] e-1. What if you had bought the November put with exercise price $135 instead? Would you exercise the put at a stock price of \$135? Yes No c-2. Whot is the rate of return on your position? (Negative value should be indicated by a minus sign.) FIGURE 2.10 Stock options on Microsoft, September 4, 2019 Note: Microsoft stock price on this day was \$137.49. Source: Compiled from data downloaded from Yahoo! Finance.
In the given scenario, if the stock price of Microsoft at option expiration is $5143, the call option with an exercise price of $5135 would be exercised. The net profit on the position would be $800, and the rate of return on the position would be approximately 15.58%.
a-1. If the stock price at option expiration is $5143, it is higher than the exercise price of $5135, which means the call option is "in the money." In this case, it would be beneficial to exercise the call option as it allows the holder to buy the underlying shares at a lower price and immediately sell them in the market at the higher price, resulting in a profit.
a-2. The net profit on the position can be calculated by subtracting the cost of purchasing the call option from the profit made by exercising it. Since the call option is exercised, the net profit would be the difference between the stock price at option expiration ($5143) and the exercise price ($5135), multiplied by the number of shares (200). Therefore, the net profit would be $800.
a-3. The rate of return on the position is calculated by dividing the net profit by the initial investment (cost of purchasing the call option) and expressing it as a percentage. Assuming the cost of the call option is not given, the rate of return cannot be determined accurately. However, if the initial investment is equal to the premium paid for the call option, the rate of return would be approximately 15.58% (($800 / premium) * 100).
b-1. If the exercise price of the November call option was $130, and the stock price at option expiration is $5143, the call option would still be exercised as the stock price is higher than the exercise price, resulting in a profit.
b-2. The net profit on the position would be calculated in the same way as in part a-2, using the new exercise price of $130. Unfortunately, the exercise price mentioned is not applicable in this case, so the net profit cannot be determined accurately.
b-3. Similarly, the rate of return on the position cannot be determined accurately without the initial investment. Therefore, it is not possible to calculate the rate of return for this scenario.
e-1. In the scenario where the November put option with an exercise price of $135 is purchased, and the stock price at option expiration is $135, the put option would not be exercised. This is because the stock price is equal to the exercise price, and it would be more beneficial to sell the shares in the market at the same price rather than exercising the put option.
c-2. Since the put option would not be exercised, there would be no profit or loss associated with the position. Therefore, the rate of return would also be zero.
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Bellevue Toyota service department a subsidiary of Bellevue Toyota, is looking to replace one of the machines they use to do alignments with a new, more efficient model. The incremental cash flows of the new machine are as follows. Bellevue Toyota's cost of capital is 11%. Initial Investment: $12,190 Operating Cash Flows by year: a. Calculate the payback period of the new machine. b. Calculate the net present value of the new machine. c. Calculate the internal rate of return of the new machine. Should the machine be accepted?
The payback period of the new machine is 2.43 years or approximately 2 years and 5 months.
The net present value of the new machine is $5,042.2.
The internal rate of return of the new machine is 16.28%.
a. Calculation of Payback Period of the new machine The payback period of the new machine is defined as the number of years required to recover the initial investment by the cash flows generated by the investment. The calculation is as follows: Initial Investment = $12,190Operating Cash Flows by year Year 1 Cash Flow = $5,000Year 2 Cash Flow = $6,000Year 3 Cash Flow = $4,500Year 4 Cash Flow = $3,500$12,190/$5,000 = 2.43 years or approximately 2 years and 5 months. Therefore, the payback period of the new machine is 2.43 years or approximately 2 years and 5 months. The payback period of the new machine is 2.43 years or approximately 2 years and 5 months. Calculation of Payback Period of the new machine= 2.43 years or approximately 2 years and 5 months
b. Calculation of Net Present Value (NPV) of the new machineNet Present Value is defined as the present value of future cash inflows minus the present value of the initial investment. The formula for the calculation of NPV is as follows:NPV = Σ(Ct/(1+r)t) - COWhere,Ct = cash flow in year tr = discount rateCO = initial investment= -12190t= 0 1 2 3 4Ct= -12190 5000 6000 4500 3500r = 11%NPV = (-12190/1+0.11)^0 + (5000/1+0.11)^1 + (6000/1+0.11)^2 + (4500/1+0.11)^3 + (3500/1+0.11)^4 - (-12190)= (-12190/1.11)^0 + (5000/1.11)^1 + (6000/1.11)^2 + (4500/1.11)^3 + (3500/1.11)^4 - (-12190)= -12190 + 4504.5 + 5068.4 + 3378.6 + 2341.5 + 1939.2= $5,042.2As the net present value of the new machine is positive, it means that the machine should be accepted. The net present value of the new machine is $5,042.2. Therefore, the machine should be accepted. Calculation of Net Present Value (NPV) of the new machine= $5,042.2c. Calculation of Internal Rate of Return (IRR) of the new machine Internal rate of return is defined as the discount rate at which the present value of future cash inflows is equal to the present value of the initial investment. The formula for the calculation of IRR is as follows:-CO + Σ(Ct/(1+IRR)t) = 0Where,Ct = cash flow in year tr = internal rate of returnCO = initial investment t= 0 1 2 3 4Ct= -12190 5000 6000 4500 3500IRR = 15%CO + (C1/(1+IRR)) + (C2/(1+IRR)^2) + (C3/(1+IRR)^3) + (C4/(1+IRR)^4) = 0CO + (5000/(1+0.15)^1) + (6000/(1+0.15)^2) + (4500/(1+0.15)^3) + (3500/(1+0.15)^4) = 0CO = -12190IRR = 16.28%As the internal rate of return of the new machine is more than the cost of capital, it means that the machine should be accepted. The internal rate of return of the new machine is 16.28%. Therefore, the machine should be accepted. Calculation of Internal Rate of Return (IRR) of the new machine= 16.28%.
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Examine the
organizational rights extended to the
Industrial Disputes Act and the Labour Relations and Industrial
Disputes Regulations, 1975 of Jamaica.
Organizational rights are the terms and conditions under which an employee union is permitted to operate. Both the Industrial Disputes Act and the Labour Relations and Industrial Disputes Regulations of 1975 in Jamaica extend organizational rights to employees.
The following are some of the organizational rights extended to employees:Collective bargaining: Collective bargaining allows employees to negotiate with their employer for better wages, benefits, working hours, and other conditions of employment. Section 24(1) of the Industrial Disputes Act recognizes the right of employees to collective bargaining for better terms and conditions of employment.Union recognition: Unions must be recognized by employers for collective bargaining to take place. Section 25 of the Industrial Disputes Act requires that employers recognize unions for collective bargaining purposes once they represent a significant proportion of the workforce. Recognition is also given by the Labour Relations and Industrial Disputes Regulations, 1975 in Jamaica to the union that represents the majority of employees.
Voting rights: Employees who are union members have the right to vote for union officials and in union elections. The Labour Relations and Industrial Disputes Regulations, 1975 provides provisions for voting rights for employees who are union members. Freedom of association: Section 22 of the Industrial Disputes Act guarantees employees the right to join or not join a union of their choosing. This provision is aimed at protecting employees from being discriminated against on the basis of their membership or non-membership in a union. In essence, the Industrial Disputes Act and the Labour Relations and Industrial Disputes Regulations, 1975 of Jamaica have provided many organizational rights to employees to foster peaceful and harmonious relations between employers and employees.
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Take me to the text Promotion Sports Inc. is a retailer of clothing and sports equipment. The following is Promotion Sports' sales forecast by quarter for the upcoming year. In addition, sales in Q3 and Q4 of 2020 totaled $129,000 and $200,000 respectively. According to the company's sales records, 52% of sales are made in cash and the remaining 48% are made on account (i.e. credit sales). Assume the following historical trends were noted by management regarding credit sales: - 55% of credit customers pay during the quarter in which the sale took place - 32% of credit customers pay in the quarter immediately following the quarter of sale - 7% of credit customers pay in the second quarter following the quarter of sale - The remaining 6% of credit sales are uncollectible Do not enter dollar signs or commas in the input boxes. Round your answers to the nearest whole number. a) Calculate the forecasted sales for each quarter (separate revenue into cash and credit sales). b) Prepare the cash receipts section of the 2021 cash budget (on a quarterly basis)
Management has identified payment patterns for credit sales, and based on these, forecasted sales for each quarter can be calculated. Cash receipts section of 2021 cash budget can be prepared on quarterly basis.
To calculate the forecasted sales for each quarter, the sales forecast provided for the upcoming year can be used. The forecasted sales for each quarter can be determined by multiplying the sales forecast by the respective percentages for cash and credit sales. To prepare the cash receipts section of the 2021 cash budget, the cash inflows from credit sales need to be estimated based on the payment patterns identified by management. These patterns indicate that 55% of credit customers pay during the quarter of the sale, 32% pay in the following quarter, and 7% pay in the second quarter following the sale. The remaining 6% of credit sales are uncollectible.
By applying these payment patterns to the credit sales for each quarter, the estimated cash receipts from credit sales can be determined. The cash receipts section of the cash budget should reflect the quarterly cash inflows from both cash sales and credit sales.
By following these calculations, Promotion Sports Inc. can gain insights into their forecasted sales and plan their cash inflows accordingly to prepare an effective cash budget for the year 2021.
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