Analysis of Different Viewpoints of US Involvement in the...

Thirty-eight years have passed and the Vietnam War is still a controversial topic. While some Americans believe that Indochina was of no strategic value to the United States, others argue that civilian leaders have undermined the war effort. My paper will help analyze the different viewpoints for U.S. involvement in Vietnam and the overall assessment of each. Almost all the sources utilized came to the consensus that the chief purpose for U.S. intervention was to stop Communism from spreading. Nevertheless, while some believed that the developed country had reason to fear the â€Å"Iron Curtain,† which fell upon Asia in 1954 with the armistice in Korea and the Geneva Accords, others did not see this as an act of upholding freedom and democracy.†¦show more content†¦Summers (1995) added that American arrogance stemmed from the presumption that it knew what was best for the world in terms of social, political, and economic development, and seeing it as its duty to force the world into the American mold, it became involved in Vietnam. Anderson (2007), Summers (1995) and Gardner (2000) did not believe that credibility was the correct way to handle the Vietnam War, whereas Lind (1999) and Smith (1985) thought it more of an opportunity for the U.S. to exhibit its power. Those in defense of U.S. intervention many times declared that Vietnam had entered a civil war prior to any outside interference. Both Moyar (2008) and Dunnigan (1999) explained that Ngo Dinh Diem had sought for Washington to include more army and sext leaders in the government in order to increase its efficiency. The American Army reported that South Vietnam was stricken with â€Å"almost total political and military paralysis,† and that unless current trends were reversed, which were deemed unlikely, the Communists would take over Vietnam â€Å"long before the 1956 elections†. In other words, intervention seemed necessary because there was strong proof of Communism being a threat and South Vietnam required assistance. America became involved because they didn’t want a CommunistShow MoreRelatedThe War On Terror : An Example Of All Three Foreign Policy Tools Is Afghanistan Essay1303 Words   |  6 PagesThe War on Terror required utilizing pre-emptive war, regim e change, and unilateralism. An example of all three foreign policy tools is Afghanistan. Bush took a hard line approach with the Taliban government of Afghanistan, who had a semi-friendly working relationship with Osama bin Laden’s terrorist group, al Qaeda, by declaring that if the Taliban government did not hand over bin Laden, the U.S. would invade Afghanistan. The War on Terror created a renewed moralism that had effectively disappearedRead MorePopular Culture And Music Affect U.s. Public Opinion On The Vietnam War2148 Words   |  9 PagesTo what extent did popular culture and music affect U.S. public opinion on the Vietnam War? I.B. Internal Assessment Chavez, Miguel History HL Port Chester High School Word Count: 2,131 May 2016 â€Æ' Table of Contents Part A: Plan of Investigation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Page 3 Part B: Summary of evidence†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...Page 4 Part C: Evaluation of sources†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Page 7 Part D: Analysis †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....†¦Ã¢â‚¬ ¦Page 9 Part E: Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MorePresident Kennedy and the Vietnam War Essay1806 Words   |  8 PagesWorld War II, France governed Vietnam as part of French Indochina, which also included Cambodia and Laos. 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Top Illustrative Writing Reviews!

Top Illustrative Writing Reviews! The Lost Secret of Illustrative Writing Keep on writing what it is that you're likely to share with the reader, and offer reasons for picking a specific topic. The author uses words to paint a picture for the reader so the reader can visualize what the writer is attempting to say. Quite simply, it illustrates or demonstrates an idea or something about the topic through using examples. You ought to be aware of your audience and have to be quite clear concerning the fact in your thoughts, and you need to back up the overall truth and your point by the stories you illustrate. Illustrative Writing - Is it a Scam? It is essential that your writing is succinct. Excellent essay writing always starts with the practice of planning. Acquiring excellent writing skills needs a lot of hard work, so keep practicing until you grow to be a true expert! If you want more college level illustration essay topics, you're able to easily see them on the internet since there are plenty of such lists. To ensure that your illustrative essay is a winner, have lots of factual info, explain that factual data in an intriguing way and don't be scared to throw in many examples. There are scores and scores of various channels on the internet that dwell upon particular topics which may be on the creation of your essay. There are a lot of approaches to find the info necessary for your essay. College students are often assigned to compose illustrative essays since they are among the most helpful tactics to put forth an idea or maybe to clarify a theory. The Ideal Approach for Illustrative Writing The solution ought to be proper and feasible. The best method to prove your point is to demonstrate a real-life example. The trick is to choose a topic that one may argue for or against its existence. A large part of evaluation is contingent on the conclusion part. What You Should Do About Illustrative Writing Starting in the Next 5 Minutes You need to make use of concrete examples to create a lot superior understanding for your readers and allow it to be relatable for your audience. There are a lot of different study habits, so it's very important to individuals to determine which one works for them. Great study habits are very beneficial for men and women in education, and they are sometimes learned with enough repetition. Students have to develop decent study habits if they are supposed to reach their whole potential in any course or degree. Among other sorts of essays, it is among the simplest to write. Still, in the event the essay is on free subject, you should ascertain the length by yourself. So to be certain that you compose a top-quality essay you obviously should know the inside story of the topic. Illustrative essays might incorporate both detailed and fast examples. The important part of an illustrative essay is to supply illustrations. You might now give a succinct overview of your essay that follows especially the list of stories which you are likely to narrate in the other region of the essay. The following are a few appropriate essay topics that you could take into consideration when you want to compose a great paper that will earn you the top marks you would like. To understand several types of academic essays better, you might prefer the website full of totally free essay examples. You shouldn't necessarily expend plenty of ink on a specific example simply because you've found a great deal of information on it. There's the range of topics divided into categories depending on their theme. A particular case of illustration utilizes a personal experience or other folks experience that is proven to be dominant to present an integral illustration essay example. For instance, take some related images and attempt to describe them in detail . When you have identified what you'd love to write about, provide a thesis statement with regard to the illustrative topic. You're going to require a good amount of examples to back up your thesis. The thesis is the idea you're likely to support throughout the remainder of your essay by giving examples and explanation. It should also be argumentative and challenging. Just like every kind of essay it's important that you know the characteristics prior to starting your research and writing. The most important writing strategy for it is to give an overview of empirical data and supply a detailed and crystal clear definition. Explain how you plan your diet plan. In the event you've got zero comprehension of the situations you write about, your odds to compose a fantastic paper will be a lot lower. You need a definite idea about what you wish to say if you wish to be in a position to support it. A very long narrative about your individual feelings about winter may appear relevant to the topic, but it doesn't prove that the majority of people hibernate. Making something into a habit can take some moment, and that time can be challenging.

Application of IOT-Free-Samples for Students-Assignmenthelp.com

Questions: 1.What does the statement "the best interface for a system is no User Interface"? When might this apply and provide two examples. 2.Compare the bandwidth, distance, interference rating, cost and security of a) twisted pair cable, b) coaxial cable and 3) fibre optic cable. Use current data, give specific details for at least 3 types of cable within each category. 3.The three common ways to obtain information from IoT devices are sensors, RFID and Video tracking. Compare the three technologies by addressing the advantages, disadvantages. 4.Discuss the issues associated with security and privacy in the context of the Internet of Things. 5.How much of its time budget can be saved by redesigning the application to use the publish/subscribe communication model in lieu of the command/response approach. 6.Describe Nielson's Law. How does it relate to Moore's Law? What are the implications for the Internet of Thing? Answers: 1.The real problem that is mainly faced with an interface is basically it is an interface. In doing any daily task with the interface gets into the way it would be all together a very bad option. The main focus should be on the task and not on the interface which is related to the task. The main aspect that should be followed practically is that the mere job is not basically done on the job or it can be stated that the effort in doing a job is not on the interface it should be putting effort on a job. When a job is directly related to a interface the main design aspect is related to the inherent inhuman, unnatural which directly gives a diminishing return. The better aspect in such a scenario is not putting any emphasis on the interface and full emphasis should be towards the job which is to be performed. Example 1: Bluetooth audio system is in the verge of the latest innovation. The user interface has been implemented in such a way that compatibility should be achieved in order to access the output and the input aspect involved in it.(Wollschlaeger, Sauter Jasperneite, 2017). Example 2: Putting emphasis on the Bluetooth aspect the elimination of the user interface would be directly beneficial from the users point of view. The user interface would always be troublesome with the prospective of the user and different secyrity issue can arise from its directly implementation. The elimination of the user interface would also save time. 2.Specifications of Cables Co axial cable The co axial cable is very much similar to the cable type which is used in order to carry Television signal. The main composition of the wire is a solid wire which is made up of copper runs down the middle of the wire, around the solid wire is a thin layer of insulation and covering the insulation are a metal foil and a braided wire. The main role of it is to protect against interference of magnetic. Bandwidth: the bandwidth of co axial cable is 1 GHz Distance: 500m Interference rating: limited to a distance but least susceptible to interference. Cost: medium cost than other cables. Security: The security involved in the wire can be considered as medium Twisted pair Cable: The twisted pair cable is the most common type of cable which can be found easily in the local area network (LAN) networks. The data which is transmitted is from the pair of twisted pair of wire. The twisting is mainly done in order to protect it from cross talk. Bandwidth: the bandwidth of co axial cable is 1 MHz Distance: 100m Interference rating: limited to a distance but least susceptible to interference Cost: it is very much cheaper than other cables. Security: the security aspect lags behind in this category of cable. Optical fiber cabling The optical fiber cable mainly uses a optical fiber that mainly carry data signal which is in the digital form in the form of pulses which are modulated. The main composition of the cable is that it consist of an extremely thin cylinder which is referred to as core, the core is surrounded by a concentrate layer of glass which is termed as cladding. Bandwidth: the bandwidth of co axial cable is 75 THz Distance: (single mode) 10Km, (multi node) 2Km Interference rating: the cable is not susceptible to EMI Cost: This category of cable is consider to be very much expensive Security: this category of cable is imposed with high security aspects. 3. Summarized Table of Advantages, Disadvantages and Application of IoT IoT Devices Advantages Disadvantages Application Sensors * effect of dust, rain and snow is limited *The working is limited and would work properly if and only if proper power supply is given to it. * signal which are reflected form curves can be difficult to achieve. *Smart sleep system. *Smart washing machine. *Smart lightning. *Weather monitoring. *Blood Pressure monitoring (Tozlu et al., 2012). Smart internet mirror. RFID * 100% security is assured with tag data where data cannot be duplicated. * large number of sizes, different types and different materials are appropriately available *costly than barcode * Barcode labels are longer. * used in tracking of product which is mainly used in jeweler tracking airlines baggage (Gubbi et al., 2013). Video Tracking *Communication achieves devices. * is another advantage of video tracking is monitoring (Singh, Tripathi and jara, 2014). *Better quality of livelihood. *international standard compatibility is not given *Privacy and security both will be exposed. *Human-computer interaction. *Augmentation of reality. *Medical imaging. *Video communication. 4.The internet of things promises to provide ubiquitous and unprecedented access to any device that can easily make up for anything with regards to health, wellness devices and assembly lines. The different aspects which can be related are to the security issue. The internet of things can provide different advantage as well as disadvantage added to it (Wollschlaeger, Sauter Jasperneite, 2017).. In general the security and the protection of data are considered complimentary requirement when it is related to Internet of Things services. Security can be related to anything that involves various aspect of putting the data in a secured environment. There can be many justifications and security aspects that can be involved in the security of the data in an internet of things (IoT) service. When it comes to data one of the basic aspects that comes into play is keeping the data secured from a variety of security breaches which are into active part now. Putting emphasis on information security, it is regarded as preserving the confidentiality, availability and integrity (Kranz, 2016). The security plays a vital role in every aspect putting limelight on both the aspects for the organization itself and the benefits of the citizens. The most important challenge is to ensure the availability and continuity prospective with the provision of the services which are served by the Internet o f Things, with it the main aspect of avoiding the potential failure which are associated with interruptions and operational failure (Tozlu et al., 2012) . 5.Blocking Mode: As peer the blocking phase, the guarantee which is achieved with the generation of the point which is considered to be the end point will to gave in order to get the appropriate respond of the request made with the initialization of the point which is considered as the end point and with regards to its completion which is long and which can be referred to as waiting point with emphasis on the originator (Wollschlaeger, Sauter Jasperneite, 2017) being synchronous asynchronous message would be received by the originator Publish/Subscribe Paradigm: It is also referred to as a pub/sub which enables the communication in order of unidirectional between the publishers with regards to the one subscriber. After the subscriber declares his interest in this category or class of category it would be forwarded (Bui, 2016). Figure 1: Publish Subscribe Paradigm (Source: By Author) Command/Response Paradigm: The factor of overhead with the message which is unneeded, this message travels in the direction which is reverse Response /command and thus sub optimality is achieved. Figure 2: Command/Response paradigm (Source: By Author) 6.Neilsons Law: Comparing to Moores law the user bandwidth increases by almost 60% in every year which is very much less. The time period of 1989 to 2016 is the best fitted period of the law. The law wis directly related to the bandwidth with regards to the internet and mainly states that a user connection which is estimated to be on the higher end , the speed grows to an average of 50% every year.(Wollschlaeger, Sauter Jasperneite, 2017). Moores law is same as the Neilsons law but the law which is stated by Neilson is more established. Moore stated that computer double in capabilities every 18 months, which is related with 60% of annual growth (Kumar et al., 2017). Implication of Nelsons law in IoT In around 2024 it can be expected that with the implementation of the sensor technology it will break through the trillion sensor by which the creating of data stream with every surround surface can be achieved. Sensors will be very much soon embedded in various fields such as houses, cars and even in the clothing. Microchip will be a part of the trending approach with its direct implementation in body or skin sensor. This implementation can be a trend in the near future. (Bonomi et al., 2017). References Bonomi, F., Milito, R., Zhu, J., Addepalli, S. (2017, August). Fog computing and its role in the internet of things. In Proceedings of the first edition of the MCC workshop on Mobile cloud computing (pp. 13-16). ACM. Bui, N. (2016). Internet of Things. Cui, X. (2016). The internet of things. In Ethical Ripples of Creativity and Innovation (pp. 61-68). Palgrave Macmillan, London. Kranz, M. (2016). Building the Internet of Things: Implement New Business Models, Disrupt Competitors, Transform Your Industry. John Wiley Sons. Kumar, M., Bhaskar, M. S., Padmanaban, S., Siano, P., Blaabjerg, F., Leonowicz, Z. (2017, June). Electric field analysis of extra high voltage (EHV) underground cables using finite element method. In Environment and Electrical Engineering and 2017 IEEE Industrial and Commercial Power Systems Europe (EEEIC/ICPS Europe), 2017 IEEE International Conference on (pp. 1-4). IEEE. Li, S., Da Xu, L. (2017). Securing the Internet of Things. Syngress. McKernan, K. J. (2016). The chloroplast genome hidden in plain sight, open access publishing and anti-fragile distributed data sources. Mitochondrial DNA Part A, 27(6), 4518-4519. Mulani, T. T., Pingle, S. V. (2016). Internet of things. International Research Journal of Multidisciplinary Studies, 2(3). Wollschlaeger, M., Sauter, T., Jasperneite, J. (2017). The future of industrial communication: Automation networks in the era of the internet of things and industry 4.0. IEEE Industrial Electronics Magazine, 11(1), 17-27

Cashflow statement Essay Example

Cashflow statement Essay Questions, Exercises, and Problems: Answers and Solutions 1. 1The first question at the end of each chapter asks the student to review the important terms and concepts discussed in the chapter. Students may wish to consult the glossary at the end of the book in addition to the definitions and discussions in the chapter. 1. 2Setting Goals and Strategies: Although a charitable organization must obtain sufficient resources to fund its operations, it would not pursue profits or wealth increases as goals. A charitable organization would direct its efforts toward providing services to its constituencies. Financing: A charitable organization may obtain some or all of its financing from donations (contributions). A charitable organization does not issue common stock or other forms of shareholders’ equity, nor does it have retained earnings. Investing: Similar to business firms, charitable organizations acquire productive capacity (for example, buildings) to carry out their activities. Operations: A charitable organization might prepare financial statements that compare inflows (for example, contributions) with outflows. While these statements might appear similar to income statements, there would be no calculation of net income because the purpose of the charitable organization is to provide services to its constituents, not seek profits. 1. 3The balance sheet shows assets, liabilities and shareholders’ equity as of a specific date (the balance sheet date), similar to a snapshot. The ncome statement and statement of cash flows report changes in assets and liabilities over a period of time, similar to a motion picture. 1. 4The auditor evaluates the accounting system, including its ability to record transactions properly and its operational effectiveness, and also determines whether the financial reports prepared by the firm’s managers conform to the requirements of the applicable authoritative guidance. The auditor provides an audit opinion that refle cts his professional conclusions. For most publicly traded firms in the U. We will write a custom essay sample on Cashflow statement specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Cashflow statement specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Cashflow statement specifically for you FOR ONLY $16.38 $13.9/page Hire Writer S. the auditor also provides a sepa- 1. 4 continued. rate opinion on the effectiveness of the firm’s internal controls over financial reporting. 1. 5Management, under the oversight of the firm’s governing board, prepares the financial statements. 1. 6Employees and suppliers of goods such as raw materials or merchandise often provide the services or goods before they are paid. The firm has the benefit of consuming or using the goods or services before it transfers cash to the employees and suppliers. The length of the financing period is the number of days between when the employees and suppliers provide goods and services and when the firm pays cash to those employees and suppliers. 1. 7Accounts receivable represent amounts owed by customers for goods and services they have already received. The customer, therefore, has the benefit of the goods and services before it pays cash. The length of the financing period is the number of days between when the customer receives the goods and services and when the customer pays cash to the seller of those goods and services. . 8Both kinds of capacity represent investments in long-lived assets, with useful lives (or service lives) that can extend for several or many years. They differ in that land, buildings, and equipment represent physical capital, while patents and licenses represent intangible or intellectual capital. 1. 9A calendar year ends on December 31. A fiscal year ends on a date that is determined by the firm, perhaps based on i ts business model (for example, many retailers choose a fiscal year end that is close to the end of January). A firm can choose the calendar year as its fiscal year, and many do. Both calendar years and fiscal years have 12 months. 1. 10Most firms report the amounts in their financial statements using the currency of the country where they are incorporated and conduct most of their business activities. Some firms use a different currency. 1. 11A current item is expected to result in a cash receipt (assets such as accounts receivable) or a cash payment (liabilities such as accounts payable) within approximately one year or less. A noncurrent item is expected to generate cash over periods longer than a year (assets, such as factory buildings that will be used to produce goods for sale over many years) or use cash over periods longer than a year (liabilities such as long term debt). Users of financial statements would likely be interested in this distinction because the distinction provides information about short term cash flows separately from long term cash flows). 1. 12Historical amounts reflect the amounts at which items entered the firm’s balance sheet, for example, the acquisition cost of inventory. Historical amounts reflect economic conditions at the time the firm obtained assets or obtained financing. Current amounts reflect values at the balance sheet date, so they reflect current economic conditions. For example, the historical amount for inventory is the amount the firm paid to obtain the inventory and the current amount for inventory is the amount for which the firm could sell the inventory today. 1. 13An income statement connects two successive balance sheets through its effect on retained earnings. Net income that is not paid to shareholders as dividends increases retained earnings. A statement of cash flows connects two successive balance sheets because it explains the change in cash (a balance sheet account) from operating, financing, and investing activities. The statement of cash flows also shows the relation between net income and cash flows from operations, and changes in assets and liabilities that involve cash flows. 1. 14The U. S. Securities and Exchange Commission (SEC) is the government agency that enforces the securities laws of the U. S. , including those that apply to financial reporting. The Financial Accounting Standards Board (FASB) is the private-sector financial accounting standard setter in the U. S. The International Accounting Standards Board (IASB) is a private- sector financial accounting standard setter that promulgates accounting standards that are required or permitted to be used in over 100 countries. Neither the FASB nor the IASB has any enforcement powers. 1. 15U. S. GAAP must be used by U. S. SEC registrants and may be used by other firms as well. International Financial Reporting Standards (IFRS) may be used by non-U. S. firms that list and trade their securities in the U. S, and these firms may also use U. S. GAAP. 1. 16The purpose of the conceptual framework developed by the Financial Accounting Standards Board (FASB) is to guide the standard setting decisions of the FASB. For example, the conceptual framework specifies the purpose of financial reporting, and the qualitative characteristics of financial information that would serve that purpose. FASB board members use this conceptual structure as they consider solutions to accounting issues. 1. 17The accrual basis of accounting is based on assets and liabilities, not on cash receipts and disbursements. It provides a better basis for measuring performance because it is based on revenues (inflows of assets from customers) not cash receipts from customers, and on expenses (outflows of assets from generating revenues) not cash payments. It matches revenues with the costs associated with earning those revenues and is not sensitive to the timing of expenditures. 1. 18(Colgate Palmolive Company; understanding the balance sheet. ) a. Property, plant and equipment, net = $3,015. 2 million. b. Noncurrent assets = $6,493. 5 (= $3,015. 2 + $2,272. 0 + $844. 8 + $361. 5). c. Long-term debt = $3,221. million. d. Current assets – Current liabilities = $3,618. 5 – $3,162. 7 = $455. 8 million. e. Yes, Colgate has been profitable since its inception. We know this because its Retained Earnings, of $10,627. 5 million, is positive. Colgate may have had a loss in one or more prior years; cumulatively, it has had positive income. f. Total Liabilities/Total Assets = $7,825. 8/$10,112. 0 = 77 . 4%. g. Total Assets = Total Liabilities + Shareholders’ Equity $10,112. 0=$7,825. 8+$2,286. 2 1. 19(Mayr Melnhof Karton; understanding the income statement. ) a. Cost of Goods Sold = (1,331,292. 1 thousand. b. Selling and distribution expenses = (172,033. 4 thousand. c. Gross margin percentage = 23. 4% (= (405,667. 1/(1,736,959. 2). d. Operating profit = (169,418. 2 thousand. Profit before tax = (170,863. 9 thousand. Difference equals (1,445. 7 thousand (= (169,418. 2 – (170,863. 9). The items comprising this difference are sources of income (expense) of a nonoperating nature for Mayr Melnhof. e. Effective tax rate = (54,289. 9/(170,863. 9 = 31. 8%. f. Profit = (116,574. 0 thousand. 1. 20(Bed, Bath and Beyond, Inc. ; understanding the statement of cash flows. ) a. Cash inflow from operating activities = $614,536 thousand. . Cash inflow from investing activities = $101,698 thousand 1. 20 continued. c. Cash inflow used in financing activities = $705,531 thousand. d. Net cash flow equals $10,703 thousand (= $614,536 + $101,698 – $705,531). e. Change in cash balance equals $10,703 thousand (= $224,084 – $213,381). The increase was attributable to the net cash inflow during the year of the same amount, $10,703 thousand. 1. 21(Alcatel-Lucent; balance sheet relations. ) (Amounts in Millions) Share- CurrentNoncurrentCurrentNoncurrentholders’ Assets+Assets=Liabilities+Liabilities+Equity (20,000+(29,402=(15,849+? (17,154 Noncurrent liabilities total (16,399 million. 1. 22(Gold Fields Limited; balance sheet relations. ) (Amount in Millions of Rand) Share- CurrentNoncurrentCurrentNoncurrentholders’ Assets+Assets=Liabilities+Liabilities+Equity R6,085. 1+R49,329. 8=R4,360. 1+R13,948. 4+? Shareholders’ Equity totals R37,106. 4 million. 1. 23(Rolls Royce Group Plc. ; income statement relations. ) Sales? 7,435 Less Cost of Sales(6,003) Gross Margin? 1,432 Less Other Operating Expenses(918) Loss on Sale of Business(2) Net Financing Income221 Profit before Taxes? 733 Less Tax Expense(133) Net Income? 600 1. 4(General Motors Corporation; income statement relations. ) Sales$207,349 Cost of Sales(164,682) Other Operating Expenses(50,335) Net Finan cing Income5,690 Net Loss$(1,978) 1. 25(Gold Fields; retained earnings relations) (Amounts in Millions of Rand) RetainedRetained Earnings NetDividendsEarnings at End ofIncomeDeclared=at End of 2006+for 2007–for 20072007 R4,640. 9+R2,362. 5–? =R5,872. 4 Dividends declared during 2007 totaled R1,131. 0 million. 1. 26(Sterlite Industries; retained earnings relations. ) (Amounts in Millions of Rupees) RetainedRetained Earnings NetDividendsEarnings March 31,IncomeDeclared=March 31, 006+for 2006–for 20062007 Rs26,575+? –Rs3,544=Rs70,463 Net income for the year ended March 31, 2007 (fiscal 2006) was Rs47,432 million. 1. 27(Target Corporation; cash flow relations. ) (Amounts in Millions) Cash atCash FlowCash FlowCash FlowCash at Feb. 3,fromfromfromFeb. 2, 2007+Operations+Investing+Financing=2008 $813+$4,125+$(6,195)+$3,707=? Cash balance at February 3, 2008 = $2,450 million. 1. 28(Edeneor S. A. ; cash flow relations. ) (Amounts in Millions) Cash atCash FlowCash F lowCash FlowCash at End offromfromfromEnd of 2006+Operations+Investing+Financing=2007 Ps32,673+Ps427,182+? +Ps(21,806)=Ps101,198 The net cash outflow for investing for 2007 = Ps(336,851) million. 1. 29(Kenton Limited; preparation of simple balance sheet; current and noncurrent classifications. ) January 31, 2008 Assets Cash? 2,000 Inventory12,000 Prepaid Rent24,000 Total Current Assets? 38,000 Prepaid Rent? 24,000 Total Noncurrent Assets? 24,000 Total Assets? 62,000 Liabilities and Shareholders’ Equity Accounts Payable? 12,000 Total Current Liabilities? 12,000 Total Noncurrent Liabilities Total Liabilities? 12,000 Common Stock? 50,000 Total Shareholders’ Equity? 50,000 Total Liabilities and Shareholders’ Equity? 62,000 1. 0(Heckle Group; preparation of simple balance sheet; current and noncurrent classifications. ) June 30, 2008 Assets Cash(720,000 Total Current Assets(720,000 Property, Plant and Equipment(600,000 Patent120,000 Total Noncurrent Assets(720,000 Total Assets(1,440,000 Liabilities and Shareholders’ Equity Accounts Payable(120,000 Total Current Liabilities(120,000 Note P ayable(400,000 Total Noncurrent Liabilities(400,000 Total Liabilities(520,000 Common Stock(920,000 Total Shareholders’ Equity(920,000 Total Liabilities and Shareholders’ Equity(1,440,000 1. 31Boeing Company; accrual versus cash basis of accounting. a. Net Income = Sales Revenue – Expenses = $66,387 million– $62,313 million = $4,074 million. Net Cash Flow = Cash Inflows– Cash Outflows = $65,995 million– $56,411 million = $9,584 million. b. Cash collections may exceed revenues for at least two reasons. First, Boeing may have collected in 2007 on customer credit sales made in 2006. Second, Boeing may have collected cash from customers in advance of providing them with goods and services. c. Cash payments may be less than expenses for at least two reasons. First, Boeing may have received goods and services from suppliers, but not yet paid for those items (i. e. the amounts are to be paid in the next year). Second, Boeing may have accrued expense s in 2007 that will be paid in cash in future periods; an example would be the accrual of interest expense on a bond that will be paid the next year. 1. 32(Fonterra Cooperative Group Limited; accrual versus cash basis of accounting. ) Calculation of net income for the year ended May 31, 2007: May 31, 2007 Revenue$13,882 Cost of Goods Sold(11,671) Interest and Other Expenses(2,113) Income before Taxes$98 Tax Expense$(67) Net Income$31 Calculation of net cash flow for the year ended May 31, 2007: May 31, 2007 Cash Receipts from Customers$13,882 Miscellaneous Cash Receipts102 Total Cash Receipts$13,996 Cash Payments to Employees and Creditors$(5,947) Cash Payments to Milk Suppliers(6,261) Cash Payments for Interest Costs(402) Cash Payments for Taxes(64) Total Cash Payments$(12,674) Net Cash Flow$1,322 1. 33(Dragon Group International Limited; balance sheet relations. ) (Amounts in Millions) The missing items appear in boldface type below. 20072006 Assets Current Assets$170,879$170,234 Noncurrent Assets28,94517,368 Total Assets$199,824$187,602 Liabilities and Shareholders Equity Current Liabilities$139,941$126,853 Noncurrent Liabilities7,0107,028 Total Liabilities$146,951$133,881 Shareholders Equity$52,873$53,721 Total Liabilities and Shareholders Equity$199,824$187,602 1. 34(Lenovo Group, Inc. ; balance sheet relations. ) The missing items appear in boldface type below. 20082007 Assets Current Assets$4,705,366$3,062,449 Noncurrent Assets2,494,4812,388,389 Total Assets$7,199,847$5,450,838 Liabilities and Shareholders Equity Current Liabilities$4,488,461$3,527,504 Noncurrent Liabilities1,098,123789,058 Total Liabilities$5,586,584$4,316,562 Shareholders Equity$1,613,263$1,134,276 Total Liabilities and Shareholders Equity$7,199,847$5,450,838 1. 5(Colgate Palmolive Company; income statement relations. ) The missing items appear in boldface type below. 200720062005 Sales$13,790$12,238$11,397 Cost of Goods Sold(6,042)(5,536)(5,192) Selling and Administrative Expenses(4,973)(4,355)(3,921) Other (Income) Expense(121)(186)(69) Interest Expense, Net(157)(159)(136) Income Tax Expense(759)(648)(728) Net Income$1,738$1,354$1,351 1. 36(Pol o Ralph Lauren; income statement relations. ) (Amounts in Millions) The missing items appear in boldface type below. 200720062005 Net Revenues$4,295. 4$3,746. 3$3,305. 4 Cost of Goods Sold(1,959. 2)(1,723. 9)(1,620. ) Selling and Administrative Expenses(1,663. 4)(1,476. 9)(1,377. 6) Operating Income$672. 8$545. 5$306. 9 Other Income (Expense)(34. 0)(43. 8)(2. 7) Interest Income (Expense), Net4. 51. 2(6. 4) Income Tax Expense(242. 4)(194. 9)(107. 4) Net Income$400. 9$308. 0$190. 4 1. 37(Ericsson; statement of cash flows relations. ) ERICSSON Statement of Cash Flows (Amounts in SEK Millions) 2007 20062005 Operations: Revenues, Net of ExpensesSEK19,210SEK18,489SEK16,669 Cash Flow from OperationsSEK19,210SEK18,489SEK16,669 Investing: Acquisition of Property and EquipmentSEK(4,319)SEK(3,827)SEK(3,365) Acquisition of Businesses(26,292)(18,078)(1,210) Sale Property and Equipment152185362 Sale of Short-Term Invest- ments3,4996,1806,375 Other Investing Activities(573)663(1,131) Cash Flow from InvestingSEK(27,533)SEK(14,877)SEK1,031 Financing: Proceeds from BorrowingsSEK15,587SEK1,290SEK657 Repayment of Borrowings(1,291)(9,510)(2,784) Sale of Common Stock94124174 Dividends Paid(8,132)(7,343)(4,133) Other Financing Activities40658(288) Cash Flow from FinancingSEK6,664SEK(15,381)SEK(6,374) Change in CashSEK(1,659)SEK(11,769)SEK11,326 Cash, Beginning of Year29,96941,73830,412 Cash, End of YearSEK28,310SEK29,969SEK41,738 1. 38(Jackson Corporation; statement of cash flows relations. ) JACKSON CORPORATION Statement of Cash Flows (Amounts in Millions) 2008 20072006 Operations: Revenues Increasing Cash$19,536$19,083$17,233 Expenses Decreasing Cash(16,394)(18,541)(18,344) Cash Flow from Operations$3,142$542$(1,111) Investing: Sale of Property, Plant and Equipment$332$401$220 Acquisition of Property, Plant and Equipment(3,678)(3,640)(1,881) Other Investing Transactions71(1,501)268 Cash Flow from Investing$(3,275)$(4,740)$(1,393) Financing: Proceeds of Long-Term Borrow- ng$836$5,096$3,190 Issue of Common Stock67373 Repayments of Long-Term Debt(766)(922)(687) Cash Flow from Financing$137$4,211$2,506 Change in Cash$4$13$2 Cash, Beginning of Year117104102 Cash, End of Year$121$117$104 1. 39(JetAway Airlines; preparing a balance sheet and an income statement. ) a. JETAWAY AIRLINES Balance Sheet (Amounts in Thousands) Sept. 30,Sept. 30, 20082007 Assets Cash$378,511$41 8,819 Accounts Receivable88,79973,448 Inventories50,03565,152 Other Current Assets56,81073,586 Total Current Assets$574,155$631,005 Property, Plant and Equipment (Net)4,137,6105,008,166 Other Noncurrent Assets4,23112,942 Total Assets$4,715,996$5,652,113 1. 39 a. continued. Liabilities and Shareholders Equity Accounts Payable$157,415$156,755 Current Maturities of Long-Term Debt11,9967,873 Other Current Liabilities681,242795,838 Total Current Liabilities$850,653$960,466 Long-Term Debt623,309871,717 Other Noncurrent Liabilities844,116984,142 Total Liabilities$2,318,078$2,816,325 Common Stock$352,943$449,934 Retained Earnings2,044,9752,385,854 Total Shareholders Equity$2,397,918$2,835,788 Total Liabilities and Shareholders Equity$4,715,996$5,652,113 b. JETAWAY AIRLINES Income Statement (Amounts in Thousands) For the Year Ended: Sept. 30, 2008 Sales$4,735,587 Salaries and Benefits Expense(1,455,237) Fuel Expense(892,415) Maintenance Expense(767,606) Other Operating Expenses(1,938,753) Interest Expense(22,883) Interest Income14,918 Net Income$(326,389) c. Retained Earnings, September 30, 2007$2,385,854 Plus Net Loss for 2008(326,389) Less Dividends Declared during 2008 (Plug)(15,390) Retained Earnings, September 30, 2008$2,044,075 1. 40(Block’s Tax and Bookkeeping Services; cash versus accrual basis accounting. ) a. Income for July, 2008: (1)Cash Basis Accounting Sales Revenues$13,000 Rent (Office)(6,000) Rent Equipment(12,000) Office Supplies Expense(370) Income (Loss)$(5,370) 1. 40 a. continued. (2)Accrual Basis Accounting Sales Revenues$44,000 Rent (Office)(2,000) Rent (Equipment)(2,000) Salaries Expense(6,000) Office Supplies Expense(90) Interest Expense(133) Income (Loss)$33,777 b. Cash on Hand: Beginning Balance, July 1$0 Financing Sources and (Uses): Jack Block Share Purchase40,000 Bank Loan20,000 Total Financing Sources$60,000 Operating Sources and (Uses): Cash Collected from Customers$13,000 Office Rent(6,000) Equipment Rental(12,000) Office Supplies Expense(370) Net Operating Uses$(5,370) Ending Balance, July 31$54,630 The ending balance in cash contains the effects of both operating activities, which have net cash flow of $(5,370) and financing activities, which have net cash flow of $60,000. The firm is financing its operating activities with a bank loan and with funds invested by its owner; both of these sources of funds represent claims on the firm’s assets, not increases in net assets. 1. 41(Stationery Plus; cash basis versus accrual basis accounting. ) a. Income for November, 2008: (1)Cash Basis Accounting Sales$23,000 Cost of Merchandise(20,000) Rent(9,000) Salaries(10,000) Utilities(480) Income (Loss)$(16,480) 1. 41 a. continued. (2)Accrual Basis Accounting Sales$56,000 Cost of Merchandise(29,000) Rent(1,500) Salaries(10,000) Utilities(480) Interest(1,000) Income (Loss)$14,020 b. Income for December, 2008: (1)Cash Basis Accounting Sales Made in November, Collected in December$33,000 Sales Made and Collected in December34,000 Cost of Merchandise Acquired in November and Paid in December(20,000) Cost of Merchandise Acquired and Paid in December(27,500) Salaries(10,000) Utilities(480) Interest(2,000) Income (Loss)$7,020 (2)Accrual Basis Accounting Sales$62,000 Cost of Merchandise(33,600) Rent(1,500) Salaries(10,000) Utilities(480) Interest(1,000) Income (Loss)$15,420 1. 42(ABC Company; relation between net income and cash flows. ) a. [pic] January$875$1,000$750$1,125 February1,1251,0001,500625 March6251,5001,875250 April2502,0002,2500 1. 42 continued. b. The cash flow problem arises because of a lag between cash expenditures incurred in producing goods and cash collections from customers once the firm sells those goods. For example, cash expenditures during February ($1,500) are for goods produced during February and sold during March. Cash is not collected from customers on these sales, however, until April ($2,000). A growing firm must generally produce more units than it sells during a period if it is to have sufficient quantities of inventory on hand for future sales. The cash needed for this higher level of production may well exceed the cash received from the prior periods sales. Thus, a cash shortage develops. The difference between the selling price of goods sold and the cost of those goods equals net income for the period. As long as selling prices exceed the cost of the goods, a positive net income results. As the number of units sold increases, net income increases. A firm does not necessarily recognize revenues and expenses in the same period as the related cash receipts and expenditures. Thus, cash decreases, even though net income increases. c The income statement and statement of cash flows provide information about the profitability and liquidity, respectively, of a firm during a period. The fact that net income and cash flows can move in opposite directions highlights the need for information from both statements. A firm without sufficient cash will not survive, even if it perates profitably. The balance sheet indicates a firms asset and equity position at a moment in time. The deteriorating cash position is evident from the listing of assets at the beginning of each month. Examining the cash receipts and disbursements during each month, however, identifies the reasons for the deterioration. d. Strategies for dealing with the cash flow problem center around (a) reducing the lag b etween cash outflows to produce widgets and cash inflows from their sale, and (b) increasing the margin between selling prices and production costs. To reduce the lag on collection of accounts receivable, ABC might: (1)Provide to customers an incentive to pay faster than 30 days, such as offering a discount if customers pay more quickly or charge interest if customers delay payment. (2)Use the accounts receivable as a basis for external financing, such as borrowing from a bank and using the receivables as collateral or selling (factoring) the receivables for immediate cash. (3)Sell only for cash, although competition may preclude this alternative. To delay the payment for widgets, ABC might: 1. 42 d. continued. ) Delay paying its suppliers (increases accounts payable) or borrow from a bank using the inventory as collateral (increases bank loan payable). 2) Reduce the holding period for inventories by instituting a just-in-time inventory system. This alternative requires ordering raw materials only when needed in production and manufacturing widgets only to customer orders. Demand appears to be sufficiently predictable so that opp ortunities for a just-in-time inventory system seem attractive. To increase the margin between selling price and manufacturing cost, ABC might: 1)Negotiate a lower purchase price with suppliers of raw materials. (2)Substitute more efficient manufacturing equipment for work now done by employees. (3)Increase selling prices. The cash flow problem is short-term because it will neutralize itself by June. This neutralization occurs because the growth rate in sales is declining (500 additional units sold on top of an ever-increasing sales base). Thus, the firm needs a short-term solution to the cash flow problem. If the growth rate were steady or increasing, ABC might consider obtaining a more permanent source of cash, such as issuing long-term debt or common stock. . 43(Balance sheet and income statement relations. ) a. Bushels of wheat are the most convenient in this case with the given information. This question emphasizes the need for a common measuring unit. 1. 43 continued. b. IVAN AND IGOR Comparative Balance Sheets (Amounts in Bushels of Wheat) IVAN IGOR BeginningEnd ofBeginningEnd of Assetsof Period Period of Period Period Wheat2022310105 Fertilizer21 Ox40364036 Plow2 Land100100 50 50 Total Assets162359101193 Liabilities and Owner’s Equity Accounts Payable3- Owner’s Equity162356101193 Total Liabilities and Owner’s Equity162359101193 Questions will likely arise as to the accounting entity. One view is that there are two accounting entities (Ivan and Igor) to whom the Red Bearded Baron has entrusted assets and required a periodic reporting on stewardship. The â€Å"owner† in owner’s equity in this case is the Red Bearded Baron. Another view is that the Red Bearded Baron is the accounting entity, in which case financial statements that combine the financial statements for Ivan and Igor are appropriate. Identifying the accounting entity depends on the intended use of the financial statements. For purposes of evaluating the performance of Ivan and Igor, the accounting entities are separate—Ivan and Igor. To assess the change in wealth of the Red Bearded Baron during the period, the combined financial statements reflect the accounting entity. 1. 43 continued. c. IVAN AND IGOR Comparative Income Statement (Amounts in Bushels of Wheat) IVANIGOR Revenues243138 Expenses: Seed2010 Fertilizer21 Depreciation on Ox44 Plow31 Total Expenses2916 Net Income 214 122 Chapter 1 does not expose students to the concept of depreciation. Most students, however, grasp the need to record some amount of expense for the ox and the plow. d. (Amounts in Bushels of Wheat)IVANIGOR Owner’s Equity, Beginning of Period162101 Plus Net Income214122 Less Distributions to Owner(20)(30) Owner’s Equity, End of Period 356 193 e. We cannot simply compare the amounts of net income for Ivan and Igor because the Red Bearded Baron entrusted them with different amounts of resources. We must relate the net income amounts to some base. Several possibilities include: IVANIGOR Net Income/Average Total Assets82. 2%83. % Net Income/Beginning Total Assets132. 1%120. 8% Net Income/Average Noncurrent Assets155. 1%137. 1% Net Income/Beginning Noncurrent Assets152. 9%135. 6% Net Income/Average Owner’s Equity 82. 6%83. 0% Net Income/Beginning Owner’s Equity132. 1%120. 8% Net Income (in bushels)/Acre10. 7012. 20 This question has no definitive answer. Its purpose is to get students to think about performance measurement. The instructor may or may not wish to devote class time at this point discussing which base is more appropriate.