Caltron Inc

Over the past ten years the importance of accounting cannot be overemphasized, as we've seen our share of national scandals. In today's society accounting principles and standards are severely important in driving the formation of financial statements. Without principles and standards, financial reporting would not fairly present the financial position of a company. Accounting has changed and evolved vastly over time and continues to change.Because of this I am going to breakdown the way your financial reporting team has been recognizing revenue for the fourth quarter of the current year and assess the implications it may have on your financial statements. I will also take you through the process of how the accounting standards are created to give you a better understanding of what my conclusion is. Revenue Recognition Implications As you know Caltron Computers, Inc. s a publicly held company with a total market capitalization in excess of $450 million, and you have a proposed second ary public stock offering coming in early February 20X2. Therefore the auditors are concerned about the impact of these transactions and want to bring it to your attention before it misrepresents the reported earnings. Caltron reported net revenues from four transactions equal to $1,710,000 in Q4, while cash received only totaled $495,000.The quality of earnings issue surfaces and gives the auditors reasons to question the accounting methods and possibly their honesty and ethics. The company policy for recognizing revenue is when the products are shipped, and because of this, a potential issue has come about relating to some of the transactions. Typically revenues are earned when the earning process is complete and an exchange has taken place. Once this happens the risks of ownership are transferred to the buyer, unless an arrangement for the sale states otherwise.Collectibility of the sales price is questionable for three of these transactions. According to FASB, revenue generally is realized or realizable and earned when all of the following criteria are met: persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the seller's price to the buyer is fixed or determinable, and collectibility is reasonably assured. (FASB, 2008) Now I will follow this with a breakdown of all the

Journey for Truth: The Life of Sojourner Essay

The contribution of the life, philosophy, and activism of Sojourner Truth was that she was effective in preaching to the community as a freedom fighter, abolitionist, and feminist. Representing many classes of people in Antebellum United States, she was able to illuminate for others the hardships and desires of black people, the poor and oppressed, and women. As slaves, blacks had no personal freedom. They had no rights to themselves or their families, were whipped and tortured, experienced segregation and denial of citizenship, were denied salaries, and, women especially, endured the devastating agony of having their babies and children stripped from them and sold off to other arrogant and inhumane slave masters. In an effort to encourage radical change in her time, Truth took up the risky cause of making speeches against the strong forces of evil and in support of the righteous values of freedom and respect. Liberating herself and other people was not limited by class, racial, economic, or gender lines, rather she held the torch of freedom as a beacon for all oppressed people to follow, calling for empowerment of the weak, tolerance for differences, and protection for all people (Waxman, 2007). Truth was born into slavery in the late 1790s, in a more rural area outside of the bustling New York City. At the age of nine, Truth, then named Isabella, was sold by the slave master away from her parents and one remaining sibling to another New York slave owner. For nearly thirty years, she experienced a life of extremely difficult conditions, being repeatedly sexually abused and physically assaulted, and some of her children were forcibly taken from her and sold into bondage. Luckily, after the New York Emancipation Act of 1827, Truth was freed along with other former slaves of this Northeastern region, and in 1843, Truth was inspired to assume her new name and began a mission of journeying across the country as an itinerant preacher, supporting the efforts of abolitionists and feminists in the North, becoming actively involved in breaking down the slave system and pressing for the rights of all subjugated people (Mullings, 2005). Truth’s most famous speech at the Women’s Rights Convention in Akron, Ohio in 1851 is a wonderful demonstration of the strength of her ideals and the power of her words. In an excerpt from Brah and Phoenix’s 2004 article, Truth is quoted as having preached: That man over there says that women need to be helped into carriages, and lifted over ditches, and to have the best place everywhere. Nobody helps me any best place. And ain’t I a woman? Look at me! Look at my arm. I have plowed, I have planted, and I have gathered into barns. And no man could head me. And ain’t I a woman? I could work as much, and eat as much as any man–when I could get it–and bear the lash as well! And ain’t I a woman? I have borne children and seen most of them sold into slavery, and when I cried out with a mother’s grief, none but Jesus heard me. And ain’t I a woman? (p. 77) Her sharply painful and moving words, rich with truth and experience, sent tides of strength and power through the country’s movement for all levels of freedom in regard to all kinds of people. In countering tyranny with liberty, and violence with peace, Truth became an emblem of the almost suffocated soul which was able to rise up, speak out, and lend valuable energy and motivation to the essential activism of her time. In defending her womanhood, her personhood, her right to full citizenship and social inclusion, Truth demanded respect during a time when evil was easily cast down the noses of the dishonorable elite. Standing firm in her beliefs and finding power in the spirituality of goodness, Truth was able to meet eyes with her oppressors and effectively shake the foundations of a flawed system.

Research Type Essay Example | Topics and Well Written Essays - 250 words

Research Type - Essay Example Grounded theory is based on symbolic interactionism; wherein behavior develops through mingling and association with others in a process composed of negotiation and renegotiation (Morse and Field, 1996). It opposes the notion of average behavior and static reaction to symbols. Phenomenology studies behavior in the context of the individual’s experience (Morse and Field, 1996). Compared with grounded theory, phenomenological research supposes that meanings and behaviors are more internally controlled rather than a result of outside influence. Both methods require the generation of huge amounts of data because of the individualistic (phenomenology) and interaction-based (grounded theory) approach that it takes and both are essential to Nursing research because a patient’s reaction to a health care practice is influenced by both internal and external factors. Managing and organizing qualitative data for analysis is needed so as to make a coherent and relevant research. One way of handling large volumes of data is by categorizing each paper or resource and coding them so as to make it easier to find a particular resource when needed. Qualitative research analysis software (i.e. Nvivo) can also be used to index and sort massive amounts of information for quicker access. The use of online data bases can also be harnessed because these data bases are already organized and streamlined so analysis will be more efficient. (Polit and Beck,

Madatory labeling In Resturants Essay Example | Topics and Well Written Essays - 250 words

Madatory labeling In Resturants - Essay Example This could be in terms of ingredients that are not fit for their consumption and processes used for production that are not of expected standards. (Elise Golan) The reasons for supporting mandatory labeling of foods have to do with the effects of genetically modified food on the health of individuals. The second reason has to do with the ingredients used in the production of the foods. (IFPRI) Some people may be on certain diets that do not allow them to consume the products. The third reason is basically for the benefit of the manufacturing company such that consumers prefer foods from certain companies because of their reputation, labeling makes them easily identifiable to the consumer. Lastly labeling is important for a country as it helps it in identifying products that come from countries that are known to violate manufacturing standards and therefore they do not allow them in the market to protect its citizens. It also enhances fair competition and market efficiency in a given country. (Elise Golan) Consumer choices may change due to mandatory labeling because they are able to identify products that have been certified as fit for use and those that have not. If for example the product is certified by an international accredited body, chances are consumers will buy it more as compared to another labeled by a local body. Consumer preferences in terms of quality will also make certain products to lose market as a result of these as they will be able to differentiate easily and make choices whether to buy or not. (Elise Golan) Elise Golan, Fred Kuchler, Barry Krissoff. Do Food Labels Make a Difference? . . . Sometimes. Novemeber 2007. 18 Septemeber 2011

The coca-cola Company struggles with Ethical Crises Case Study

The coca-cola Company struggles with Ethical Crises - Case Study Example Coca cola Company, one of the most revered and common soft drink manufacturers in the world has had to deal with a number of ethical complaints against it. The company has had a number of influential business people serving various positions within its ranks, including Warren Buffet who served in the company’s board. In this paper, one out of a number of the ethical misdeeds raised against Coca Cola Company will be analyzed. In this analysis, the company’s response to the issues raised by the company and how it affected the success and operations of the business will be discussed. The economic and social impacts of the complaints against the company will also be discussed in line with differential business practices and response to ethical concerns (Jennings, 2011). Ethical concerns Just like any manufacturing company, coca cola has had a number of ethical challenges especially on their manufacturing and package practices. In 1999, the company was faced with one of the most dreaded ethical concern that arose after the safety of its products was questioned. The source of this questioning arose after thirty Belgian children developed health complications after consuming a wide range of the company’s products. This forced the company to react immediately by recalling its Belgian based products to enable them conduct tests to confirm the source of the illnesses (Jennings, 2011). ... This created a major public outcry with the media giving the company a lot of negative publicity. These developments forced the company’s management to give a detailed apology to enable them gain the public confidence that was forced fading. This was the end of the company ethical manufacturing practices as France followed suit and banned all products from the company after a number of coca cola consumers developed complications. Other products from the company like the coca cola water that was being supplied to Poland reported the presence of mould, fungi that are harmful to human health (Jennings, 2011). Coca Cola Company and the community Organizations today have more roles, not just to the stakeholders and the consumers but to the general population and the society. In this regard, Coca Cola Company has not been left behind in developing proper community based projects and serving in different roles as part of its corporate social responsibility. To enable the company rega in the trust of the community as a whole and recapture the mass consumers, especially those who migrated to other brands like Pepsi, the coca cola company have developed a number of programs that targets the community (Kesler, 2012). These projects are supported and coordinated by its philanthropic and community based wing known as the coca cola foundation. Through this foundation, the company is engaged in community development and environmental programs in different parts of the world, especially in countries where it operates its subsidiaries. It funded the education on wheel program in Singapore in which students were allowed to learn different historical developments in the country through interactive mobile visits. This program has been lauded for its ability to

Professional Educators Making A Difference Essay - 1

Professional Educators Making A Difference - Essay Example The professional educators are therefore bringing about a much needed difference not only within their own lives but also within the entities of the ones who are studying under them or with them. Their excellence is being continuously supplemented and the credit for the same goes on to their shoulders and the institutions which are making professional education a possibility without any doubt (Mearman, 2006). The professional educators are bringing about a difference within adult education which was not experienced in the past. There is a definitive difference that is being seen with their measures and the studies that they have undertaken (Ramey, 2011). The on-the-job training as well as the in-school training has brought dividends to just about anyone who is related with the field of professional education in one or the other capacity (Buchen, 2005). This will essentially be the cornerstone of bringing new possibilities within professional education and hence people at large will b e benefited because of the varied realms of professional education all said and done. Ramey, Craig T. The Dosage of Professional Development for Early Childhood Professionals: How the Amount and Density of Professional Development may Influence its Effectiveness. Advances in Early Education and Day Care, 15,

An analysis of entrepreneurial theory Essay Example | Topics and Well Written Essays - 4000 words

An analysis of entrepreneurial theory - Essay Example Many new entrepreneurial firms fail as a result of entrepreneurs not fully understanding problems associated with their business models. It is rather commonplace for entrepreneurs to jump blindly into a new business model without properly planning that includes construction of a concise and well-developed business plan. A successful entrepreneurial venture must be considerate of the entire value chain, including marketing, human resources, technology, logistics and production in order to have a viable business model that can productively support the desired vision. Failure of the entrepreneurial venture occurs regularly as entrepreneurial leaders do not effectively measure the business’ holistic capabilities and capacities needed to service a market which leads to a lack of competitiveness in the firm’s competitive market. In order to properly service the external market effectively and profitably, it is critical to understand what constitutes the dynamic of the post-re cession markets and then attempt new strategies to align the entrepreneurial enterprise with these conditions and dynamics. As one example, the post-recession consumer is now more concerned about the ethical values and behaviours of the organisation. A study conducted by Oh and Yoon, utilizing a sample of 343 different consumers, identified that when an organization illustrates that it maintains altruistic values and activities, consumers maintain a more positive perception of this business over that of businesses without a promoted ethical stance.