Legal Issues Essay Example for Free

Legal Issues Essay From both a spiritual and an ethical perspective Benji Watson should not sign the contract being offered at New Gen Health Sciences. Completely understanding that he is newly out of college, most likely with student loans and upcoming bills he is responsible for, an extremely decent salary of $80,000 looks very ideal for him. In this day and poor economy the average graduated student would jump at the opportunity to accept a high ranked position like this. It is not everyday one gets invited to attend a weekend long event with a company like New Gen. To be lavished by free merchandise for like an iPad and polo shirts. One of my favorites quotes is, â€Å"They best things in life are free.† For many that would have finalized the deal, but money is not everything. In the Holy Bible Jesus teaches us about money. â€Å"Do not store up for yourselves treasures on the earth, where moth and rust destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moth and rust do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also.† (Matthew 6:19-21 NIV) Jesus makes it clear that having the wrong treasures leads to our hearts being in the wrong place. What we treasure the most ends up controlling us. Statistics show that young Americans who possess a college degree struggle at mediocre paying jobs all across the United States. I do not know Benji’s financial situation, whether or not he desperately needs this job in order to survive but should he compromise his spiritual and ethical beliefs for this job? I truly do not think it’s worth losing self-dignity. God said that he would provide all of our needs, so regardless I think Benji should rest on that promise. My spiritual mind is telling me that one should never exploit their beliefs for a company’s gain. Spiritually speaking I believe in the faith I have in Jesus Christ. I feel as though if Benji accepts this position he would be settling. If New Gen offered a nice salary plus bonuses, I am sure they are more ethical companies out there willing to hire a well-educated college graduate such as Benji. The fact this company willingly falsely advertised their company for consumers discredits it as a whole for me. Putting up a facade shows the lack of integrity New Gen shows. Business ethics is the study of what makes up good and bad conduct as related to business actions and values. (Kubasek, 2012) In the business world CEO’s and top leaders decide whether or not they’ll follow good ethics  for there company. Clearly Benji sees the dark route New Gen is taking. Not only are they dishonest with investors and distributors, who poured into the company leading to profits, but also consumers. What disturbed me most as a Christian was when the CEO placed himself on such a high pedestal addressing the large crowd at the pep rally. Disrespecting the Christian faith, using the word salvation in a negative way to hype the crowd bothered me. â€Å"Do not be deceived: God cannot be mocked. A man reaps what he sows. The one who sows to please his sinful nature, from that nature will reap destruction; the one who sows to please the Spirit, from the Spirit will reap eternal life. â€Å" (Galatians 6:7-8 NIV) As a believer I would not be comfortable working for a man who disrespected and took my faith so lightly and used it for personal gain. Furthermore the company showed mixed messages in regard to the possible hiring of Benji. New Gen Health Services made it seem like they didn’t interview him based on his Master’s degree, but because they assumed he was a Christian who could â€Å"talk the talk† to hoard new distributors in. Why would anyone want to work for a company who just wants to exploit you in order to increase the company’s profits and to potentially negatively hurt these lured distributors in the long run? God calls us to do good and live like Jesus. â€Å"So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets.† (Matthew 7:12 NIV) I feel another big reason why Benji shouldn’t sign the contract is because the true motivation for New Gen is corrupt. It is the motivation for the action that determines whether the act is fundamentally ethical or economic. (Dobson, 2012) There is a clear distinction of what form of ethic New Gen chose to do. They went the strategic-ethic path, aiming for the best monetary results for them. The economic benefits to be derived from superficially ethical behavior can be significant. (Dobson, 2012) If Benji did consider signing the contract with New Gen he may have felt that this is how all businesses are run in the real world. The scheme â€Å"Get rich quick!† is popular among many. It is common to familiarize such with corporate culture which is defines as a set of characteristics that define a business. It involves employee attitudes, standards (policy and procedures),  and rites and rituals. Though I believe that this is true and common, I know that they are plenty of businesses choose to do differently. Lastly Benji should avoid signing that contract because he’ll have to deal with his conscience. Would God be pleased with his decision to join such a corrupt company? Would Benji himself be content and comfortable waking up everyday to work for people who truly don’t care about anyone but themselves? I believe the answer to those questions are â€Å"no†. They are so many opportunities for Benji, he just needs to grasp them! In conclusion I am certain Benji is better off working for a company who truly acknowledges good business and spiritual ethics. References (1997) Life Application Study Bible. New International Version. Carol Stream, IL: Tyndale House Publishers, Inc (2013) What is Corporate Culture? Retrieved on November 19, 2013 from http://www.wisegeek.org/what-is-corporate-culture.htm Kubasek, N. K., Brennan, B. A. Browne, M. N. (2012). The legal environment of business: A critical thinking approach (6th ed.). Upper Saddle River, NJ: Prentice Hall.

Neo Neo Debate in International Relations

Neo Neo Debate in International Relations The study of international relations is best thought as a protracted competition between the realist, liberal, and radical traditions (Stephen,1998). In international relations theory, there are four Great Debates argued by the international relations scholars. In this paper, the neo-neo debate to the study of international relations is the topic used to talk about. The neo-neo debate in international relations is known as a debate between scholars of neo-realist international relations theory and neo-liberal institutionalism (Steve, 2001). The neo-neo debate is not a debate between two completely opposite viewpoint. This paper is finished under the hammer at revealing the key features and the main contributions of the neo-neo debate to the study of International Relations. This paper is divided into three sections to finish the work. In the first section, the key features of the neo-neo debate to the study of International Relations show in this part. Section two focuses on the main contributions of the neo-neo debate to the study of International Relations. The last section relates to the conclusion of the whole paper. 2.0 Discussion about the features and contributions Neorealism and neoliberalism are the two most contemporary approached to international relations theory and they create the neo-neo debate which has dominated much of international relations theory for the last decade (Powell, 1994). Arguments on the consequence of both anarchy and gains and the prospect for peace form the basis of the neo-neo debate (Taylor, 2006). Though neorealist and neoliberal international relations theorists pursue different arguments, the neo-neo debate is not a debate between two polar opposite worldviews. They share assumptions which focus on similar questions and they agree on very similar, through not identical, set of assumptions about international politics. In a word, there are both similarities and disparity between neorealism and neoliberalism. Taylor (2006) thinks the similarities between thee two schools are from the neorealism. First, both of them think states are rational egoists. Unlikely the classical liberal proposition that the idealistic sel f-abnegation and self-regarding motivations of states (Hobson 2000), neoliberal scholars agree with neorealists that states are rational egoists so that they are self -interested. This similarity formed those baseline assumptions that neoliberalists began to question and argue with neorealism. Despite there are similarities between neorealism and neoliberalism, neoliberals maintained many of the key assumptions from the classical liberals. In this paper, there are some points under the neo-neo debate of international relations to show the incomplete opposite between neorealist and neoliberal international relations theories. Exactly those assumptions borrowed from neorealism and core classical liberalism produce the debate between neorealism and neoliberalism. First, the notion of anarchy in international relations is the most significant part among these two schools. To the classical realist, anarchy means that there is no government of governments and no authority in the world greater than the sovereign state (Fraser, 2010). But to the neorealist, anarchy is the organizing principle that makes states to act the way they do. The world is constituted of nations which are governed by states in relative anarchy (Axelrod Keohane 1993). States are supposed to be rational and unitary actors. In the world of anarchy, states have to use self-help as a predominant tool (Setear, 2010). Waltz (1979) thinks that the effect of anarchy is to create the principle of self-help, because a state can only depend on itself for its survival. States are unable to control in an anarchic climate so that they should prepare to be challenged by opportunistic, stronger states (Hobson 2000). Neorealists stand on the belief that the state is the most important actor in international politics to peace, but they also feel powerless to influence the peaceful action of other states. Though neoliberalism is different from Neorealism, it does not vote down the anarchic nature of the international relations. Scholars of neoliberalism emphasis the neorealists have exaggerated the importance and effect of anarchy. They think anarchy can be mitigated by international regimes and institutions. That is to say they argue that the neorealists underestimate the effect of institutionalised co operation. Neoliberalism believes that interstate cooperation could create institutions and regimes for the peaceful settlement of conflicts (Sheldon, 1994). Another core disparity within the neo-neo debate is the problem of absolute and relative gains. The difference of this disparity is obvious. Neorealists think that all states must be concerned with the absolute and relative gains which produce by international agreements and cooperative efforts. While neoliberals are less concerned about relative gains and considers that both of them will benefit from absolute gains. For neorealists, winning at all costs can make their friends be their enemy in war in the pursuit of relative gains (Taylor, 2006). For neoliberals, if states only pursue absolute gains, they can cooperate with each other and avoid conflict by maintaining the international principle through a positive game (Viotti and Kauppi 1987). This disparity has significant implications on the problems of security concerns of states and the prospects of world peace (Taylor, 2006). Hence neorealists consider conflicts as inevitable outcomes of international relations. Besides, neorea lists focus more on the short-term gains of states in competition while neoliberals pay more attention on longer-term absolute gains (Taylor, 2006). Hence neorealists place a higher emphasis on power-maximizing and security dilemma than economic prosperity (Baldwin, 1993). Neoliberals support that international institution can play an important role in resolving conflicts and that it can make states cooperate and work toward long-term gains rather than relay on short-term gains. Though neoliberals agree with neorealists on that states act only out of self-interest, they can not share the suggestion of neorealists about the possibility of international cooperation. The neo-neo debate has been the dominant focus in international relations theory scholarship in the USA for the last dozen years (Baylis Smith, 2006). Neorealism and neoliberalism turn to be conceptual frameworks which show people the images of the world rather than just theories. Both neorealism and neoliberalism have its limits and deficiencies. Neoliberalism emerged as a new liberal response to realism during the last decade of the Cold War. Interestingly, the neoliberals borrow many neorealist assumptions but distance themselves from the classical liberalist theory so they can restore integrity to liberal ideals (Taylor, 2006). Neoliberalism is always named as neoliberal institutionalism in the academic world. The development of neoliberal institutionalism presents a serious challenge for neorealist analysis. But the debate between them is still an inter-paradigm one. The neo-neo debate refers to the problems of state power, relations among different states, and relations betwee n state and non-state actors. Baylis and Smith (2006) point out neorealism and neoliberalism share many assumptions about actors, values, issues and power arrangements in the international relations theories. During the 1960s and 1970s, the appearance of non-state actors induced the world structure to change. Keohane and Nyne (1972) argue that a definition of politics in terms of state behaviours alone may lead us to ignore important non-governmental actors that allocate view. Then the neoliberalism came out to explain the changes of world structure. Neoliberals think states should not be seen as the unique actor in international politics. Its assumptions clearly challenges and distinguishes itself from neorealism. Neorealists think that states are the primary and unitary actors in international politics. But the truth is globalization provides opportunities and resource for transnational social movements have challenged the state authority and control in some areas (Baylis and Smith, 2006). That is no exaggeration to say that the neo-neo debate comply with the development of international politics. During the development of international relations theory, the development of each school is rooted in argument between different schools. Through those arguments, scholars of international relations extend their thoughts and explore more possibilities, shine their studies, and finally accept the strong points of the others and the weak points belong to themselves. Then they can rethink profoundly on their own theories and make recreation on their works. That is how neorealists and neoliberals affect each other and the development of international relations theories. Powell (1994) points out that much of the neo-neo debate can be seen as a response to Waltzs Theory of international politics and a reaction to those response. Waltzs key contribution to the international relations theories is the creation of neorealism which is also called structural realism by him. Neorealism is a reaction to the classical realism and leads the response from neoliberals. Then the debate between neoreali sm and neoliberals came out to discuss problems which exit in the international politics. The debate between neorealism and neoliberalism is much more deepen and careful than the debate between realism and liberalism. The approach used within the debate has its new features in evidence. It also opens up a new from of debate which not exclude each other and not easy to assert the fault of the other. Some scholars also think the neo-neo debate between these two theories have failed to contribute as much as they could have to the international relations theory. Powell (1994) thinks neorealism and neoliberalism have serious internal weakness and limitations which lead to the neo-neo debate present confuse rather than clarification. Maybe this shortcoming can also be looked as a contribution to the international relations theories. Scholars need to find much more directions for the future theoretical work after they have realized there were weakness and limitations within the neo-neo debate. 3.0 Conclusion Today, many of foundations of the interstate system are challenged by change in international norms. These changes have led to a debate among scholars about whether those international relations theories will survive in its current form or evolve into another theory that does not come out. Neoliberals believe economics is a driving force which can encouragingly increase cooperation among nations in international relations. While neorealists think that military force will continue decide what happens in the world. Both of them are right to some extant. And none of them will replace another. May another new debate will replace them someday, the neo-neo debate is still a great evolution of the study of international relations.

Comparison of IFRS and U.S GAAP in relation to intangible assets

Comparison of IFRS and U.S GAAP in relation to intangible assets 1. Introduction Businesses have never been as globalised as they are today. Numerous corporations from developed, newly industrialised and developing countries operate on a global basis and need to create financial statements using the accounting practices of their home country, as well as those existing in their areas of operations. The divergence in accounting practices of different countries creates the need for the preparation of separate financial and accounting statements and subsequent reconciliation of differences. The international accounting fraternity is now steadily moving towards global commonality in accounting practices and procedural reporting. The International Accounting Standards Board (IASB) has been working towards convergence of global accounting standards. Its mission is to develop and enforce a single set of global accounting standards, based on preparation of high quality, transparent and comparable financial statements for local and global users. The IASB has been working on compiling a stable set of International Financial Reporting Standards (IFRS) for first time users. The IFRS was mandated for all publicly listed companies in the European Union in 2005 and has also been adopted by other countries like Australia. The IASB has also been working very closely with the US Financial Accounting Standards Board (FASB), since 2002, to bring about convergence between US GAAP and the IFRS. However, while significant work has been done on harmonising IFRS with US GAAP and many pending issues are being currently addressed, a number of accounting topics are still treated differently by these two systems. A number of differences continue to remain in the accounting treatment of intangible assets. Intangibles have been defined in various ways. Essentially they comprise of assets that do not have physical presence and are represented by items like goodwill, brands and patents. These assets do not have shape but do have values; which again are sometimes indeterminate but often capable of estimation. They need to be under the direct control of the organization and capable of yielding future financial gain to be termed as intangible assets belonging to the company. A strong legal right that can lead to future financial gain is a good example of an intangible asset whose valuation is quite indeterminate but nevertheless provides security and the potential for financial gain to an organisation. The treatment of intangible assets has always been contentious and open to different interpretations. Even today, while IFRS and US GAAP have moved towards convergence in a number of accounting areas, significant differences still remain in their treatment of intangibles. These differences are specific in the treatment of goodwill and research and development costs, and lead to specific differences in the final preparation of financial statements. It is the purpose of this assignment to examine the differences and similarities between US GAAP and IFRS for the treatment of Goodwill, Research and Development costs, Brands, Patents and Trademarks. A number of texts have been referred for this assignment, especially International Accounting and Multinational Enterprises 6th edition by Radebaugh, Gray and Black, International Financial Reporting: A Comparative Approach by Roberts, Weetman and Gordon, the US GAAP and IFRS websites, a number of specialised publications by PWC andand the published accounts of many multinational corporations. Accounting statements and established practices are often subject to individual interpretation and the perusal of a number of texts has enabled the researcher to prepare a holistic and critical assessment of the selected topics. Inputs from all these texts and publications have been used in the preparation of this paper. 2. Goodwill Goodwill arises as an intangible asset and comprises of the difference between the cost of an acquisition and the fair value of its identifiable assets, liabilities and contingent liabilities. A recent analysis by PricewaterhouseCoopers (PWC) estimates that intangible assets accounted for approximately 75 % of the purchased price of acquired companies in recent years. Increasing attention is now being paid on the management of intangible assets and the IFRS3 has responded to this need by detailing accounting procedures for intangible assets. Goodwill makes up approximately two thirds of the value of intangible assets of US companies and the figure for companies registered in the EU would presumably be similar. Accounting of Goodwill arises in the case of acquisitions where the purchase price exceeds the net cost of purchased tangible assets, the monetary difference being attributed to goodwill and other intangible assets. IFRS procedures, unlike US GAAP, previously required the amortisation of goodwill over a specific number of years, thus establishing an artificial life for this asset. This procedure has since been changed and with the IFRS position converging with that of GAAP, goodwill is not considered to be a wasting asset anymore. It however needs to be emphasised that this refers only to goodwill obtained from acquisitions. Internally generated goodwill is not reflected as an asset either under IFRS or under US GAAP. The IFRS enjoins companies to distinguish between goodwill and other identifiable intangible assets. As such the value of other intangible assets like Research and Development, Patents, Trademarks, Brands and others need to be removed from the goodwill basket to arrive at the residual goodwill value. The treatment of goodwill is different from other intangibles as, subject to periodic assessments for impairment, it is expected to maintain its value indefinitely. While both IFRS and US GAAP require goodwill to be valued, reconciled, detailed by way of factors and reflected in financial statements, they have dissimilar modes for its accounting treatment. In most acquisitions the amount of goodwill is significant because of the considerable difference between the purchase price and cost of net assets of the acquired company. The difference in accounting treatment between IFRS and US GAAP thus causes the results of the financial statements prepared under the two methods to vary considera bly and calls for a detailed reconciliation. There is no immediate plan to bring about a convergence between these two modes of treatment, which is a matter of regret. a) Goodwill under IFRS Goodwill is not amortised any longer under IFRS procedures and is considered to be an asset with indefinite life. It however has to be subjected to a stringent impairment test, either annually, or at shorter notice if the need arises, to assess for erosion in value. In the event of impairment, the Profit and Loss Account is charged with the computed impairment amount to ensure the immediate highlighting of poorly performing acquisitions. Goodwill is thus not seen as a steadily wasting asset but one with indefinite life; and with a value linked to the performance of the unit. Another significant change in the treatment of goodwill has arisen out of the requirement for treating all business combinations as purchases. This will eliminate the possibility of companiesà ¢Ã¢â€š ¬Ã¢â€ž ¢ not recording goodwill by pooling the assets and liabilities of various companies together for preparation of financial statements. The test for impairment of goodwill under the IFRS is carried out at the level of the Cash Generating Unit or a group of CGUs representing the lowest level at which internal managements monitor goodwill. The IFRS also stipulates that the level for assessing impairment must never be more than a business or a geographical segment. The test is a one stage process wherein the recoverable amount of the CGU is calculated on the basis of the higher of (a) the fair value less costs to sell or (b) the value in use, and then compared to the carrying amount. In case the assessed value is lesser than the carrying cost, an appropriate charge is made to the profit and loss account. The goodwill appropriated to the CGU is reduced pro rata. The IFRS requires detailed disclosures to be published regarding the annual impairment tests. These include the assumptions made for these tests, and the sensitivity of the results of the impairment tests to changes in these assumptions. M/s Radebaugh, Gray and Black, in their book International Accounting and Multinational Enterprises stress that these disclosures are intended to give shareholders and financial analysts more information about acquisitions, their benefits to the acquiring company and the efficacy and reasonableness of impairment reviews. Negative goodwill arises when the cost of acquisition is less than the fair value of the identifiable assets, liabilities and contingent liabilities of the company. While its occurrence is rare, negative goodwill can well arise when loss making units are acquired or a distress sale gives a company the opportunity to acquire a bargain. In such cases IFRS procedures stipulate that the acquirer should reassess the identification and measurement of the acquireeà ¢Ã¢â€š ¬Ã¢â€ž ¢s identifiable assets, liabilities and contingent liabilities and the measurement of the cost of the combination. The excess of net assets over the cost should be recognized and taken to the profit and loss account. Goodwill under US GAAP Goodwill was treated as an asset with indefinite life by US GAAP even when IFRS procedures allowed for its amortisation. The change in IFRS procedures is a thus a desirable step towards convergence. In US GAAP, goodwill is reviewed for impairment at the operating level, which specifically indicates a business segment, or at a lower organisational level. In no case can an impairment assessment be made for a level higher than a business segment. Impairment must be carried out annually or even at shorter intervals, if events indicate that the recoverability of the carrying amount needs to be reassessed. While these requirements are similar to those stipulated by IFRS, the procedure for assessment of impairment is significantly different and comprises of two steps. In the first step the fair value is computed and compared with the carrying amount of the concerned unit including goodwill. If the book value is higher than the fair value, no further exercise is suggested and goodwill carried forward at the same value. If however the fair value of the reporting unit is lesser than its carrying amount, goodwill is considered to be impaired and the second step is applied. Goodwill impairment, under US GAAP, is measured by computing the excess of the carrying amount of goodwill over its fair value. The computation for this is fairly simple and constitutes of determining the fair value of goodwill by allocating fair value to the various assets and liabilities of the reporting unit, similar to the procedure used for the determination of goodwill in a business combination. The calculated erosion in goodwill needs to be shown specifically as an impairment charge in the computation of income. The assessment and treatment of negative goodwill is also somewhat different in US GAAP, even though the basic accounting principles are similar to that followed by IFRS. In this case the excess of fair value over the purchase price is allocated on a pro rata basis to all assets other than current assets, financial assets, assets that have been chosen for sale, prepaid pension investments and deferred taxes. Any negative goodwill remaining after this exercise is recognised as an extraordinary gain. 3. Intangible Assets other than Goodwill Intangible assets other than goodwill are identifiable non-monetary assets without physical substance. M/s Radebaugh, Gray and Black state that intangible assets need to be identifiable, under the control of the company and capable of providing future economic benefits. While formulation of appropriate modes of accounting for these assets pose challenges to accounting theory and concepts, their importance in business is significant enough to warrant the application of detailed accounting thought. All the texts consulted have devoted significant attention to the treatment of intangible assets. A July 2006 paper on Accounting Standards regarding Intellectual and other Intangible Assets by Halsey Bullen and Regenia Cafini of the United Nations Department of Economic and Social Affairs is also very explanatory and deals with the subject both in depth and with comprehensiveness. This section deals with the similarities and dissimilarities under US GAAP and IFRS for specific intangible assets e.g. Research and Development Costs, Brands, Trademarks and Patents. While the growing importance of intangible assets call for their inclusion in financial statements, their intrinsic nature makes it difficult to do so. First, there is little connection between the costs incurred for creation of intangibles and their value. Second, it is also difficult to predict the extent of benefits that intangibles will be able to deliver. Both the IFRS and US GAAP have certain commonalities in the accounting treatment of intangible assets. In case of acquisitions, managements are enjoined to isolate specific intangible assets and value them separately from goodwill. All these assets have to be identified, valued and indicated separately in the balance sheet. The list of intangible assets that need to be recognised separately, as a result of IFRS 3 is extensive and includes a host of things like patents, brands, trademarks and computer software. IFRS 3 demands that the identification and valuation of intangible assets should be a rigorous process. Experts however feel that while valuing intangibles is essentially associated with subjectivity, logical mental application and the use of working sheets should be able to satisfy the demands of regulators. IFRS and US GAAP classify intangible assets, other than goodwill, into assets with limited useful life and assets with indefinite useful life. Assets with finite life are amortised over their useful life. While arbitrary ceilings are not specified on the useful life of those assets, they still need to be tested for impairment every year. An asset is classified as an asset with indefinite useful life if there is no probable limit to the period over which it will benefit the firm. It is however rare for intangible assets other than goodwill to have indefinite useful lives and most intangibles are amortised over their expected useful lives. Assets with indefinite lives have to be subjected to rigorous annual impairment tests. The fact that most intangible assets (other than goodwill) are amortised over their expected useful lives requires the determination of the expected useful life of each of the assets acquired. The general principles detailed above are common to both IFRS and US GAAP and are useful in determining the broad procedures for accounting and disclosure of intangible assets. As previously elaborated, accounting treatment primarily depends upon the determination of the life of an intangible asset, more specifically whether it has an indefinite or finite measurable life. All intangibles are governed by the same sets of disclosure requirements. Accordingly, financial statements should indicate the useful life or amortisation rate, amortisation method, gross carrying amount, accumulated amortisation and impairment losses, reconciliation of the carrying amount at the beginning and the end of the period, and the basis for determining that an intangible has an indefinite life. Apart from these requirements, the differences, detailed below, between US GAAP and IFRS in the treatment of Research and Development costs, Brands, Trade Marks and Patents, also need consideration. Treatment of Research and Development Costs and Brands Development costs are however assessed for valuation of long term benefits and, amortised over their determined benefit period. Capitalisation of development costs is allowed only when development efforts result in the creation of an identifiable asset, e.g. software or processes, whose beneficial life and costs can be measured reliably. If however a Research and Development project is purchased, IFRS provides for the treatment of the whole amount as an asset, even though part of the cost reflects research expenses. In the case of further costs being incurred on the project after its purchase, research costs will need to be expensed out while development costs will be eligible for capitalisation, subject to their meeting the required criteria. US GAAP however stipulates that all Research and Development costs be immediately charged to expenses. Certain development costs pertaining to website and software development are however allowed to be capitalised. Research and Development assets, if acquired are valued at fair value under the purchase method. However if the assets do not have any alternate use they are immediately charged to expense. Both PWC and publications opine that US GAAP will most probably move towards the IFRS position on Research and Development as part of the short term convergence exercise. Brands The treatment of Brands is similar under both US GAAP and IFRS norms. It has been specifically clarified that the value of brands generated internally should not be reflected in financial statements. In case of brands obtained through purchase or acquisition the value of the brand will have to be computed at cost or fair value and it will need to be determined whether the life of the brand is indefinite or finite. Brands with indefinite lives will need to be subjected to rigorous impairment tests every year, and treated like goodwill. Brands with finite lives, while subject to yearly impairment tests, will need to be amortised like other intangible assets. It needs to be noted that the mode of assessment of impairment in US GAAP is different from IFRS and this factor will accordingly come into play for assessment of impairment. Trademarks and Patents The costs of Patents and Trademarks, when developed and obtained internally comprise, mostly of legal and administrative costs incurred with their filing and registration and are expensed out as regular legal or administrative costs. The IFRS specifies that no revaluation is possible for Trademarks and Patents in accordance with IAS 38. This is because an active market cannot exist for brands, newspaper mastheads, music and film publishing rights, patents, or trademarks, as each such asset is unique. In the case of patents and trademarks obtained through acquisition, the treatment is similar to the broad category of intangible assets, for identification, valuation, measurement and recognition for purposes of separate disclosure. Acquired patents and trademarks are measured initially at purchase cost and are amortized on a straight-line basis over their estimated useful lives. Bibliography Bullen, H, and Cafini, R, 2006, Accounting Standards Regarding Intellectual Assets, UN Department of Economic and Social Affairs, Retrieved November 14, 2006 from unstats.un.org/unsd/nationalaccount/ia10.pdf FASB: Financial Accounting Standard Board, 2006, Retrieved November 14, 2006 from www.fasb.org IFRS and US GAAP, 2005, IAS Plus , Retrieved November 14, 2005 from .net/dtt/cda/doc/content/dtt_audit_iasplusgl_073106.pdf Intangible assets: brand valuation, 2004, IFRS News Brand Valuation, Retrieved November 14, 2006 from www.pwc.com/gx/eng/about/svcs/corporatereporting/IFRSNewsCatalogue.pdf Radebaugh, L.H., Gray, S.J., Black, E.L., 2006, International Accounting and Multinational Enterprises, 6th edition, John Wiley and Sons, inc., USA Roberts, C, Westman, P, and Gordon, P, 2005, International Financial Reporting: A Comparative Approach, 3rd edition, FT Prentice Hall, USA

Nudity and Sex in Advertising :: Advertising Advertisements Media Essays

Nudity and Sex in Advertising I have chosen to research and write about the controversy of nudity and sex in advertising in the United States of America. Many people oppose advertising that uses sex and nudity to sell products, while others believe that there is nothing wrong with sex or nudity displayed in adverting. For my final research paper I have chosen to argue with the side that believes it is okay to advertise usually nudity and sex. Countries in Europe use full frontal nudity and sex to sell products all the time and not as many people are offended by the advertisements compared to people in America. I will be discussing why Americans view these advertisements different than Europeans and why with out these advertisements they are making the situation worse. The topic of nudity and sex in advertising is important to all television viewers because if nudity and sex are banned from advertising, what will be banned next. Any thing could be banned with the support of a enough people, so we have to draw a line somewhere. I believe that hopefully my research and conclusions will help change the minds of at least a few people and maybe even start a revolution to allow nudity and sex in advertising. Maybe no one will read my paper or change there minds about the topic, but at least I can say that I tried and gave it my best. I hope though to become more knowledgeable about the topic for later encounters with this controversy. Virgin Mobile has decided to move away from nudity in their campaigns and move more to conservative advertisements. They believe that the change will indeed change them from â€Å"sinners to saints.† Their old ads had nude women wearing only a clear cell phone box where now the ads will contain teenagers talking to religious figures such as priests, monks, and rabbis. They decided to make the change with all the pressure advertising and the media has been getting from showing sex and nudity. I will be using this article in my paper that condemns using nudity and sex in advertising and the media. It will help me show even companies are actually listening to their viewers and in the end changing their advertisements. Word count: 123 Cuneo, Alice Z.

Analysing Invisible Man Essay -- Invisible Man Ralph Ellison Essays

Analysing Invisible Man After reading this book I wondered what it would be like to be blind then gain sight, but realize you cannot see yourself because you are invisible. It seems like a cruel joke that once you can see you realize that you still cannot see who you are. Even though this seems like a very depressing event Ellison makes it seem like a positive thing. While, at the end of the story, the narrator still does not know his place in the world he seems to be glad that he is no longer blindfolded. He even questions the reader's ability to see, "Who knows but that, on some lower frequencies, I speak for you?" What Ellison does well is the evolution of the narrator's blindness. The blindness motif seems to first show up at the battle royal. The blindfold scares the narrator. He was not used to darkness, and it put him in a "blind terror." This is the first time that the narrator admits his blindness, but at the same time he also shows the blindness of others. All of the men in the battle royal are blindfolded. Is this symbolic of the African-American's plight in society? The whites have blindfolded them and they have no idea who they are fighting against. So they end up beating each other rather than the real people they should be fighting. I think Ellison goes even deeper than mere race relations in this scene. I think he is showing the plight of the individual in society. I think Ellison is saying that we fight blindly amongst ourselves, and it is not until we take off the blindfolds that we can band together and fight the real enemy. When the narrator finally is allowed to remove his blindfold he is so preoccupied with what he believes he is there f or that he can not really focus on his fight with Tatlock. Again Ellison is commenting on the plight of the individual. The narrator is also blind to Dr. Bledsoe's true nature. It is not until later in the story that he realizes that Bledsoe wears different masks in front of different people. The narrator cannot be completely held at fault here because others are also fooled by Bledsoe. Bledsoe also dupes Barbee. Ellison then lets the reader know that Barbee is physically blind. Why is that fact important? I believe that Ellison is saying that anyone who buys into Bledsoe or Bledsoe's way of thinking is also blind. There is a point in Barbee's speech where he is "turning toward Dr. B... ... fact that he can be mistaken for Rinehart proves that Rinehart has no identity himself, but it also proves the same thing for the narrator. This seems to be why the narrator is never given a name. How do we identify people? By their names, and he has no identity so he is nameless. The Epilogue is as important as the Prologue. Here we learn that the narrator is ready to go out and search for his identity. However, now he seems to see himself as higher than others because of his experiences. He states that everyone has experienced the same thing he has, but on a "lower frequency." Is this conceit, or is he trying to relate to everyone? If it is conceit then I am less likely to trust the narrator and his point of view on all that happened to him. However, he speaks of his "social responsibility" so he seems to be a caring person, and it is because of this that I trust him. Questions: 1. Is Mr. Norton wrong in believing that the narrator is "his destiny"? 2. Who is the most "visible" person in the book? 3. Ellison seems to be speaking out against stereotyping, yet most of his characters are types rather than characters. Is he the very thing he is speaking out against?

Forecasting Essay

1. Tupperware only uses both qualitative and quantitative forecasting techniques, culminating in a final forecast that is the consensus of all participating managers. False (Global company profile: Tupperware Corporation, moderate) 2. The forecasting time horizon and the forecasting techniques used tend to vary over the life cycle of a product. True (What is forecasting? moderate) 3. Sales forecasts are an input to financial planning, while demand forecasts impact human resource decisions. True (Types of forecasts, moderate) 4. Forecasts of individual products tend to be more accurate than forecasts of product families. False (Seven steps in the forecasting system, moderate) 5. Most forecasting techniques assume that there is some underlying stability in the system. True (Seven steps in the forecasting system, moderate) 6. The sales force composite forecasting method relies on salespersons’ estimates of expected sales. True (Forecasting approaches, easy) 7. A time-series model uses a series of past data points to make the forecast. True (Forecasting approaches, moderate) 8. The quarterly â€Å"make meeting† of Lexus dealers is an example of a sales force composite forecast. True (Forecasting approaches, easy) 9. Cycles and random variations are both components of time series. True (Time-series forecasting, easy) 10. A naive forecast for September sales of a product would be equal to the sales in August. True (Time-series forecasting, easy) 11. One advantage of exponential smoothing is the limited amount of record keeping involved. True (Time-series forecasting, moderate) 12. The larger the number of periods in the simple moving average forecasting method, the greater the method’s responsiveness to changes in demand. False (Time-series forecasting, moderate) 13. Forecast including trend is an exponential smoothing technique that utilizes two smoothing constants: one for the average level of the forecast and one for its trend. True (Time-series forecasting, easy) 14. Mean Squared Error and Coefficient of Correlation are two measures of the overall error of a forecasting model. False (Time-series forecasting, easy) 15. In trend projection, the trend component is the slope of the regression equation. True (Time-series forecasting, easy) 16. In trend projection, a negative regression slope is mathematically impossible. False (Time-series forecasting, moderate) 17. Seasonal indexes adjust raw data for patterns that repeat at regular time intervals. True (Time-series forecasting, moderate) 18. If a quarterly seasonal index has been calculated at 1.55 for the October-December quarter, then raw data for that quarter must be multiplied by 1.55 so that the quarter can be fairly compared to other quarters. False (Time-series forecasting: Seasonal variation in data, moderate) 19. The best way to forecast a business cycle is by finding a leading variable. True (Time-series forecasting, moderate) 20. Linear-regression analysis is a straight-line mathematical model to describe the functional relationships between independent and dependent variables. True (Associative forecasting methods: Regression and correlation analysis, easy) 21. The larger the standard error of the estimate, the more accurate the forecasting model. False (Associative forecasting methods: Regression and correlation analysis, easy) 22. A trend projection equation with a slope of 0.78 means that there is a 0.78 unit rise in Y for every unit of time that passes. True (Time-series forecasting: Trend projections, moderate) 23. In a regression equation where Y is demand and X is advertising, a coefficient of determination (R2) of .70 means that 70% of the variance in advertising is explained by demand. False (Associative forecasting methods: Regression and correlation analysis, moderate) 24. Tracking limits should be within  ± 8 MADs for low-volume stock items. True (Monitoring and controlling forecasts, moderate) 25. If a forecast is consistently greater than (or less than) actual values, the forecast is said to be biased. True (Monitoring and controlling forecasts, moderate) 26. Focus forecasting tries a variety of computer models and selects the best one for a particular application. True (Monitoring and controlling forecasts, moderate) 27. Many service firms use point-of-sale computers to collect detailed records needed for accurate short-term forecasts. True (Forecasting in the service sector, moderate) MULTIPLE CHOICE 28. Tupperware’s use of forecasting a.involves only a few statistical tools b.concentrates on the low-level dealer, and is not aggregated at the company level c.relies on the fact that all of its products are in the maturity phase of the life cycle d.is a major source of its competitive edge over its rivals e.takes inputs from sales, marketing, and finance, but not from production d (Global company profile, moderate) 29. Which of the following statements regarding Tupperware’s forecasting is false? a.Tupperware’s fifty profit centers generate the basic set of projections. b.Tupperware uses at least three quantitative forecasting techniques. c.Tupperware uses only quantitative forecasting techniques. d.†Sales per active dealer† is one of three key forecasting variables (factors). e.†Jury of executive opinion† is the ultimate forecasting tool used at Tupperware. c (Global company profile, moderate) 30. Forecasts a.become more accurate with longer time horizons b.are rarely perfect c.are more accurate for individual items than for groups of items d.all of the above e.none of the above b (What is forecasting? moderate) 31. One use of short-range forecasts is to determine a.production planning b.inventory budgets c.research and development plans d.facility location e.job assignments e (What is forecasting? moderate) 32. Forecasts are usually classified by time horizon into three categories a.short-range, medium-range, and long-range b.finance/accounting, marketing, and operations c.strategic, tactical, and operational d.exponential smoothing, regression, and time series e.departmental, organizational, and industrial a (What is forecasting? easy) 33. A forecast with a time horizon of about 3 months to 3 years is typically called a a.long-range forecast b.medium-range forecast c.short-range forecast d.weather forecast e.strategic forecast b (What is forecasting? moderate) 34. Forecasts used for new product planning, capital expenditures, facility location or expansion, and R&D typically utilize a a.short-range time horizon b.medium-range time horizon c.long-range time horizon d.naive method, because there is no data history e.all of the above c (What is forecasting? moderate) 35. The three major types of forecasts used by business organizations are a.strategic, tactical, and operational b.economic, technological, and demand c.exponential smoothing, Delphi, and regression d.causal, time-series, and seasonal e.departmental, organizational, and territorial b (Types of forecasts, moderate) 36. Which of the following is not a step in the forecasting process? a.Determine the use of the forecast. b.Eliminate any assumptions. c.Determine the time horizon. d.Select forecasting model. e.Validate and implement the results. b (The strategic importance of forecasting, moderate) 37. The two general approaches to forecasting are a.qualitative and quantitative b.mathematical and statistical c.judgmental and qualitative d.historical and associative e.judgmental and associative a (Forecasting approaches, easy) 38. Which of the following uses three types of participants: decision makers, staff personnel, and respondents? a.executive opinions b.sales force composites c.the Delphi method d.consumer surveys e.time series analysis c (Forecasting approaches, moderate) 39. The forecasting model that pools the opinions of a group of experts or managers is known as the a.sales force composition model b.multiple regression c.jury of executive opinion model d.consumer market survey model e.management coefficients model c (Forecasting approaches, moderate) 40. Which of the following is not a type of qualitative forecasting? a.executive opinions b.sales force composites c.consumer surveys d.the Delphi method e.moving average e (Forecasting approaches, moderate) 41. Which of the following techniques uses variables such as price and promotional expenditures, which are related to product demand, to predict demand? a.associative models b.exponential smoothing c.weighted moving average d.simple moving average e.time series a (Forecasting approaches, moderate) 42. Which of the following statements about time series forecasting is true? a.It is based on the assumption that future demand will be the same as past demand. b.It makes extensive use of the data collected in the qualitative approach. c.The analysis of past demand helps predict future demand. d.Because it accounts for trends, cycles, and seasonal patterns, it is more powerful than causal forecasting. e.All of the above are true. c (Time-series forecasting, moderate) 43. Time series data may exhibit which of the following behaviors? a.trend b.random variations c.seasonality d.cycles e.They may exhibit all of the above. e (Time-series forecasting, moderate) 44. Gradual, long-term movement in time series data is called a.seasonal variation b.cycles c.trends d.exponential variation e.random variation c (Time-series forecasting, moderate) 45. Which of the following is not present in a time series? a.seasonality b.operational variations c.trend d.cycles e.random variations b (Time-series forecasting, moderate) 46. The fundamental difference between cycles and seasonality is the a.duration of the repeating patterns b.magnitude of the variation c.ability to attribute the pattern to a cause d.all of the above e.none of the above a (Time-series forecasting, moderate) 47. In time series, which of the following cannot be predicted? a.large increases in demand b.technological trends c.seasonal fluctuations d.random fluctuations e.large decreases in demand d (Time-series forecasting, moderate) 48. What is the approximate forecast for May using a four-month moving average? 49. Which time series model below assumes that demand in the next period will be equal to the most recent period’s demand? a.naive approach b.moving average approach c.weighted moving average approach d.exponential smoothing approach e.none of the above a (Time-series forecasting, easy) 50. Which of the following is not a characteristic of simple moving averages? a.It smoothes random variations in the data. b.It has minimal data storage requirements. c.It weights each historical value equally. d.It lags changes in the data. e.It smoothes real variations in the data. b (Time-series forecasting, moderate) 51. A six-month moving average forecast is better than a three-month moving average forecast if demand a.is rather stable b.has been changing due to recent promotional efforts c.follows a downward trend d.follows a seasonal pattern that repeats itself twice a year e.follows an upward trend a (Time-series forecasting, moderate) 52. Increasing the number of periods in a moving average will accomplish greater smoothing, but at the expense of a.manager understanding b.accuracy c.stability d.responsiveness to changes e.All of the above are diminished when the number of periods increases. d (Time-series forecasting, moderate) 53. Which of the following statements comparing the weighted moving average technique and exponential smoothing is true? a.Exponential smoothing is more easily used in combination with the Delphi method. b.More emphasis can be placed on recent values using the weighted moving average. c.Exponential smoothing is considerably more difficult to implement on a computer. d.Exponential smoothing typically requires less record keeping of past data. e.Exponential smoothing allows one to develop forecasts for multiple periods, whereas weighted moving averages does not. d (Time-series forecasting, moderate) 54. Which time series model uses past forecasts and past demand data to generate a new forecast? a.naive b.moving average c.weighted moving average d.exponential smoothing e.regression analysis d (Time-series forecasting, moderate) 55. Which is not a characteristic of exponential smoothing? a.smoothes random variations in the data b.easily altered weighting scheme c.weights each historical value equally d.has minimal data storage requirements e.none of the above; they are all characteristics of exponential smoothing c (Time-series forecasting, moderate) 56. Which of the following smoothing constants would make an exponential smoothing forecast equivalent to a naive forecast? a.0 b.1 divided by the number of periods c.0.5 d.1.0 e.cannot be determined d (Time-series forecasting, moderate) 57. Given an actual demand of 103, a previous forecast value of 99, and an alpha of .4, the exponential smoothing forecast for the next period would be a.94.6 b.97.4 c.100.6 d.101.6 e.103.0 c (Time-series forecasting, moderate) 58. A forecast based on the previous forecast plus a percentage of the forecast error is a(n) a.qualitative forecast b.naive forecast c.moving average forecast d.weighted moving average forecast e.exponentially smoothed forecast e (Time-series forecasting, moderate) 59. Given an actual demand of 61, a previous forecast of 58, and an of .3, what would the forecast for the next period be using simple exponential smoothing? a.45.5 b.57.1 c.58.9 d.61.0 e.65.5 c (Time-series forecasting, moderate) 60. Which of the following values of alpha would cause exponential smoothing to respond the most slowly to forecast errors? a.0.10 b.0.20 c.0.40 d.0.80 e.cannot be determined a (Time-series forecasting, moderate) 61. A forecasting method has produced the following over the past five months. What is the mean absolute deviation? 62. The primary purpose of the mean absolute deviation (MAD) in forecasting is to a.estimate the trend line b.eliminate forecast errors c.measure forecast accuracy d.seasonally adjust the forecast e.all of the above c (Time-series forecasting, moderate) 63. Given forecast errors of -1, 4, 8, and -3, what is the mean absolute deviation? a.2 b.3 c.4 d.8 e.16 c (Time-series forecasting, moderate) 64. The last four months of sales were 8, 10, 15, and 9 units. The last four forecasts were 5, 6, 11, and 12 units. The Mean Absolute Deviation (MAD) is a.2 b.-10 c.3.5 d.9 e.10.5 c (Time-series forecasting, moderate) 65. A time series trend equation is 25.3 + 2.1 X. What is your forecast for period 7? a.23.2 b.25.3 c.27.4 d.40.0 e.cannot be determined d (Time-series forecasting, moderate) 66. For a given product demand, the time series trend equation is 53 – 4 X. The negative sign on the slope of the equation a.is a mathematical impossibility b.is an indication that the forecast is biased, with forecast values lower than actual values c.is an indication that product demand is declining d.implies that the coefficient of determination will also be negative e.implies that the RSFE will be negative c (Time-series forecasting, moderate) 67. In trend-adjusted exponential smoothing, the forecast including trend (FIT) consists of a.an exponentially smoothed forecast and an estimated trend value b.an exponentially smoothed forecast and a smoothed trend factor c.the old forecast adjusted by a trend factor d.the old forecast and a smoothed trend factor e.a moving average and a trend factor b (Time-series forecasting, moderate) 68. Which of the following is true regarding the two smoothing constants of the Forecast Including Trend (FIT) model? a.One constant is positive, while the other is negative. b.They are called MAD and RSFE. c.Alpha is always smaller than beta. d.One constant smoothes the regression intercept, whereas the other smoothes the regression slope. e.Their values are determined independently. e (Time-series forecasting, moderate) 69. Demand for a certain product is forecast to be 800 units per month, averaged over all 12 months of the year. The product follows a seasonal pattern, for which the January monthly index is 1.25. What is the seasonally-adjusted sales forecast for January? a.640 units b.798.75 units c.800 units d.1000 units e.cannot be calculated with the information given a (Time-series forecasting, moderate) 70. A seasonal index for a monthly series is about to be calculated on the basis of three years’ accumulation of data. The three previous July values were 110, 150, and 130. The average over all months is 190. The approximate seasonal index for July is a.0.487 b.0.684 c.1.462 d.2.053 e. cannot be calculated with the information given b (Time-series forecasting, moderate) 71. A fundamental distinction between trend projection and linear regression is that a.trend projection uses least squares while linear regression does not b.only linear regression can have a negative slope c.in trend projection the independent variable is time; in linear regression the independent variable need not be time, but can be any variable with explanatory power d.linear regression tends to work better on data that lack trends e.trend projection uses two smoothing constants, not just one c (Associative forecasting methods: Regression and correlation analysis, moderate) 72. The percent of variation in the dependent variable that is explained by the regression equation is measured by the a.mean absolute deviation b.slope c.coefficient of determination d.correlation coefficient e.intercept c (Associative forecasting methods: Regression and correlation analysis, moderate) 73. The degree or strength of a linear relationship is shown by the a.alpha b.mean c.mean absolute deviation d.correlation coefficient e.RSFE d (Associative forecasting methods: Regression and correlation analysis, moderate) 74. If two variables were perfectly correlated, the correlation coefficient r would equal a.0 b.less than 1 c.exactly 1 d.-1 or +1 e.greater than 1 d (Associative forecasting methods: Regression and correlation analysis, moderate) 75. The last four weekly values of sales were 80, 100, 105, and 90 units. The last four forecasts were 60, 80, 95, and 75 units. These forecasts illustrate a.qualitative methods b.adaptive smoothing c.slope d.bias e.trend projection d (Monitoring and controlling forecasts, easy) 76. The tracking signal is the a.standard error of the estimate b.running sum of forecast errors (RSFE) c.mean absolute deviation (MAD) d.ratio RSFE/MAD e.mean absolute percentage error (MAPE) d (Monitoring and controlling forecasts, moderate) 77. Computer monitoring of tracking signals and self-adjustment if a signal passes a preset limit is characteristic of a.exponential smoothing including trend b.adaptive smoothing c.trend projection d.focus forecasting e.multiple regression analysis b (Monitoring and controlling forecasts, moderate) 78. Many services maintain records of sales noting a.the day of the week b.unusual events c.weather d.holidays e.all of the above e (Forecasting in the service sector, moderate) 79. Taco Bell’s unique employee scheduling practices are partly the result of using a.point-of-sale computers to track food sales in 15 minute intervals b.focus forecasting c.a six-week moving average forecasting technique d.multiple regression e.a and c are both correct e (Forecasting in the service sector, moderate) 96. A skeptical manager asks what short-range forecasts can be used for. Give her three possible uses/purposes. Any three of: planning purchasing, job scheduling, work force levels, job assignments, production levels. (What is forecasting? moderate) 97. A skeptical manager asks what long-range forecasts can be used for. Give her three possible uses/purposes. Any three of: planning new products, capital expenditures, facility location or expansion, research and development. (What is forecasting? moderate) 98. Describe the three forecasting time horizons and their use. Forecasting time horizons are: short range—generally less than three months, used for purchasing, job scheduling, work force levels, production levels; medium range—usually from three months up to three years, used for sales planning, production planning and budgeting, cash budgeting, analyzing operating plans; long range—usually three years or more, used for new product development, capital expenditures, facility planning, and R&D. (What is forecasting? moderate) 99. List and briefly describe the three major types of forecasts. The three types are economic, technological, and demand; economic refers to macroeconomic, growth and financial variables; technological refers to forecasting amount of technological advance, or futurism; demand refers to  product demand. (Types of forecasts, moderate) 100. List the seven steps involved in forecasting. 1. Determine the use of the forecast. 2. Select the items that are to be forecast. 3. Determine the time horizon of the forecast. 4. Select the forecasting model(s). 5. Gather the data needed to make the forecast. 6. Make the forecast. 7. Validate the forecasting mode and implement the results. (Seven steps in the forecasting process, moderate) 101. What are the realities of forecasting that companies face? First, forecasts are seldom perfect. Second, most forecasting techniques assume that there is some underlying stability in the system. Finally, both product family and aggregated forecasts are more accurate than individual product forecasts. (Seven steps in the forecasting system, moderate) 102. What are the differences between quantitative and qualitative forecasting methods? Quantitative methods use mathematical models to analyze historical data. Qualitative methods incorporate such factors as the decision maker’s intuition, emotions, personal experiences, and value systems in determining the forecast. (Forecasting approaches, moderate) 103. List four quantitative forecasting methods. The list includes naive, moving averages, exponential smoothing, trend projection, and linear regression. (Forecasting approaches, moderate) 104. What is a time-series forecasting model? A time series forecasting model is any mathematical model that uses historical values of the quantity of interest to predict future values of that quantity. (Forecasting approaches, easy) 105. What is the difference between an associative model and a time-series model? A time series model uses only historical values of the quantity of interest to predict future values of that quantity. The associative model, on the other hand, attempts to identify underlying causes or factors that control the variation of the quantity of interest, predict future values of these factors, and use these predictions in a model to predict future values of the specific quantity of interest. (Forecasting approaches, moderate) 106. Name and discuss three qualitative forecasting methods. Qualitative forecasting methods include: jury of executive opinion, where high-level managers arrive at a group estimate of demand; sales force composite, where salespersons’ estimates are aggregated; Delphi method, where respondents provide inputs to a group of decision makers; the group of decision makers, often experts, then make the actual forecast; consumer market survey, where consumers are queried about their future purchase plans. (Forecasting approaches, moderate) 107. List the four components of a time series. Which one of these is rarely forecast? Why is this so? Trend, seasonality, cycles, and random variation. Since random variations follow no discernible pattern, they cannot be predicted, and thus are not forecast. (Time-series forecasting, moderate) 108. Compare seasonal effects and cyclical effects. A cycle is longer (typically several years) than a season (typically days, weeks, months, or quarters). A cycle has variable duration, while a season has fixed duration and regular repetition. (Time-series forecasting, moderate) 109. Distinguish between a moving average model and an exponential smoothing model. Exponential smoothing is a weighted moving average model wherein previous values are weighted in a specific manner–in particular, all previous values are weighted with a set of weights that decline exponentially. (Time-series forecasting, moderate) 110. Describe three popular measures of forecast accuracy. Measures of forecast accuracy include: (a) MAD (mean absolute deviation). This is a sum of the absolute values of individual errors divided by the  number of periods of data. (b) MSE (mean squared error). This is the average of the squared differences between the forecast and observed values. (c) MAPE (mean absolute percent error) is independent of the magnitude of the variable being forecast. (Forecasting approaches: Measuring forecast error, moderate) 111. Give an example—other than a restaurant or other food-service firm—of an organization that experiences an hourly seasonal pattern. (That is, each hour of the day has a pattern that tends to repeat day after day.) Explain. Answer will vary. However, two non-food examples would be banks and movie theaters. (Time-series forecasting, moderate) 112. Explain the role of regression models (time series and otherwise) in forecasting. That is, how is trend projection able to forecast? How is regression used for causal forecasting? For trend projection, the independent variable is time. The trend projection equation has a slope that is the change in demand per period. To forecast the demand for period t, perform the calculation a + bt. For causal forecasting, the independent variables are predictors of the forecast value or dependent variable. The slope of the regression equation is the change in the Y variable per unit change in the X variable. (Time-series forecasting, diff icult) 113. List three advantages of the moving average forecasting model. List three disadvantages of the moving average forecasting model. Two advantages of the model are that it uses simple calculations, it smoothes out sudden fluctuations, and it is easy for users to understand. The disadvantages are that the averages always stay within past ranges, that they require extensive record keeping of past data, and that they do not pick up on trends very well. (Time-series forecasting, moderate) 114. What does it mean to â€Å"decompose† a time series? To decompose a time series means to break past data down into components of trends, seasonality, cycles, and random blips, and to project them forward. (Time-series forecasting, easy) 115. Distinguish a dependent variable from an independent variable. The  independent variable causes some behavior in the dependent variable; the dependent variable shows the effect of changes in the independent variable. (Associative forecasting methods: Regression and correlation, moderate) 116. Explain, in your own words, the meaning of the coefficient of determination. The coefficient of determination measures the amount (percent) of total variation in the data that is explained by the model. (Associative forecasting methods: Regression and correlation, moderate) 117. What is a tracking signal? How is it calculated? Explain the connection between adaptive smoothing and tracking signals. A tracking signal is a measure of how well the forecast actually predicts. Its calculation is the ratio of RSFE to MAD. The larger the absolute tracking signal, the worse the forecast is performing. Adaptive smoothing sets limits to the tracking signal, and makes changes to its forecasting models when the tracking signal goes beyond those limits. (Monitoring and controlling forecasts, moderate) 118. What is focus forecasting? It is a forecasting method that tries a variety of computer models, and selects the one that is best for a particular application. (Monitoring and controlling forecasts, easy) 124. A management analyst is using exponential smoothing to predict merchandise returns at an upscale branch of a department store chain. Given an actual number of returns of 154 items in the most recent period completed, a forecast of 172 items for that period, and a smoothing constant of 0.3, what is the forecast for the next period? How would the forecast be changed if the smoothing constant were 0.6? Explain the difference in terms of alpha and responsiveness. 166.6; 161.2 The larger the smoothing constant in an exponentially smoothed forecast, the more responsive the forecast. (Time-series forecasting, easy) 126. The following trend projection is used to predict quarterly demand: Y = 250 – 2.5t, where t = 1 in the first quarter of 2004. Seasonal (quarterly) relatives are Quarter 1 = 1.5; Quarter 2 = 0.8; Quarter 3 = 1.1; and Quarter 4 = 0.6. What is the seasonally adjusted forecast for the four quarters of 2006? PeriodProjectionAdjusted 9 227.5341.25 10 225180.00 11222.5224.75 12220132.00 (Time-series forecasting, moderate) 127. Jim’s department at a local department store has tracked the sales of a product over the last ten weeks. Forecast demand using exponential smoothing with an alpha of 0.4, and an initial forecast of 28.0. Calculate MAD and the tracking signal. What do you recommend? 130. A small family-owned restaurant uses a seven-day moving average model to determine manpower requirements. These forecasts need to be seasonalized because each day of the week has its own demand pattern. The seasonal relatives for each day of the week are: Monday, 0.445; Tuesday, 0.791; Wednesday, 0.927; Thursday, 1.033; Friday, 1.422; Saturday, 1.478; and Sunday 0.903. Average daily demand based on the most recent moving average is 194 patrons. What is the seasonalized forecast for each day of next week? The average value multiplied by each day’s seasonal index. Monday: 194 x .445 = 86; Tuesday: 194 x .791 = 153; Wednesday: 194 x .927 = 180; Thursday: 194 x 1.033 = 200; Friday: 194 x 1.422 = 276; Saturday: 194 x 1.478 = 287; and Sunday: 194 x .903 = 175. (Associative forecasting methods: Regression and correlation, moderate) 131. A restaurant has tracked the number of meals served at lunch over the last four weeks. The data shows little in terms of trends, but does display substantial variation by day of the week. Use the following information to determine the seasonal (daily) index for this restaurant. 132. A firm has modeled its experience with industrial accidents and found that the number of accidents per year (Y) is related to the number of employees (X) by the regression equation Y = 3.3 + 0.049*X. R-Square is 0.68. The regression is based on 20 annual observations. The firm intends to employ 480 workers next year. How many accidents do you project? How much confidence do you have in that forecast? Y = 3.3 + 0.049 * 480 = 3.3 + 23.52 = 26.52 accidents. This is not a time series, so next year = year 21 is of no relevance. Confidence comes from the coefficient of determination; the model explains 68% of the variation in number of accidents, which seems respectable. (Associative forecasting methods: Regression and correlation, moderate) 133. Demand for a certain product is forecast to be 8,000 units per month, averaged over all 12 months of the year. The product follows a seasonal pattern, for which the January monthly index is 1.25. What is the seasonally-adjusted sales forecast for January? 8,000 x 1.25 = 10,000 (Time-series forecasting, easy) 134. A seasonal index for a monthly series is about to be calculated on the basis of three years’ accumulation of data. The three previous July values were 110, 135, and 130. The average over all months is 160. The approximate seasonal index for July is  (110 + 135 + 130)/3 = 125; 125/160 = 0.781 (Time-series forecasting,  moderate) 135. Marie Bain is the production manager at a company that manufactures hot water heaters. Marie needs a demand forecast for the next few years to help decide whether to add new production capacity. The company’s sales history (in thousands of units) is shown in the table below. Use exponential smoothing with trend adjustment, to forecast demand for period 6. The initial forecast for period 1 was 11 units; the initial estimate of trend was 0. The smoothing constants are = .3 and  · = .3 136. The quarterly sales for specific educational software over the past three years are given in the following table. Compute the four seasonal factors. 137. An innovative restaurateur owns and operates a dozen â€Å"Ultimate Low-Carb† restaurants in northern Arkansas. His signature item is a cheese-encrusted beef medallion wrapped in lettuce. Sales (X, in millions of dollars) is related to Profits (Y, in hundreds of thousands of dollars) by the regression equation Y = 8.21 + 0.76 X. What is your forecast of profit for a store with sales of $40 million? $50 million? Students must recognize that sales is the independent variable and profits is dependent; the problem is not a time series. A store with $40 million in sales: 40 x 0.76 = 30.4; 30.4 + 8.21 = 38.61, or $3,861,000 in profit; $50 million in sales is estimated to profit 46.21 or $4,621,000. (Associative forecasting methods: Regression and correlation, moderate) 138. Arnold Tofu owns and operates a chain of 12 vegetable protein â€Å"hamburger† restaurants in northern Louisiana. Sales figures and profits for the stores are in the table below. Sales are given in millions of dollars; profits are in hundreds of thousands of dollars. Calculate a regression line for the data. What is your forecast of profit for a store with sales of $24 million? $30 million? Students must recognize that â€Å"sales† is the independent variable and profits is dependent. Store number is not a variable, and the problem is not a time series. The regression equation is Y = 5.936 + 1.421 X (Y = profit, X = sales). A store with $24 million in sales is estimated to profit 40.04 or $4,004,000; $30 million in sales should yield 48.566 or $4,856,600 in profit. (Associative forecasting methods: Regression and correlation, moderate) 139. The department manager using a combination of methods has forecast sales of toasters at a local department store. Calculate the MAD for the manager’s forecast. Compare the manager’s forecast against a naive forecast. Which is better?

Protestant Reformation and Hamlet S Character

To Do or Not To Do? How many times does one find themselves shirking responsibilities they accepted, or avoiding promises they made? One who often finds himself in such situations, will most likely be able to relate with William Shakespeare’s character, Hamlet. In Hamlet, Hamlet is commanded by his father’s ghost to avenge his murder. Whenever Hamlet is presented with an opportunity to do so, he delays his action. Hamlet’s inability to act is a product of the time period during which the play was written. Shakespeare wrote Hamlet during the 1600s in Elizabethan England, during the time of the Renaissance and the Reformation. The Renaissance and Reformation’s belief in ghosts, ways of thinking, views on revenge, and doubts about the afterlife cause Hamlet’s inability to act on his father’s request. The effects of the Renaissance and the Reformation on Hamlet’s character, are manifest even before he meets the ghost. Formal mourning was taken seriously during the Renaissance, and most had people heeded a custom (which was usually upheld by a law) which forbade a widow to remarry earlier than a year following the death of her husband. In the start of the play, following his father’s death and his mother’s hasty remarriage, Hamlet enters with his suit of black, complete with mourning cloak and hood. At this point, Hamlet is already established as a Renaissance figure. Furthermore, Hamlet asks Gertrude and Claudius if he can return to university. Gertrude replies â€Å"go not to Wittenberg† (1. 2. 119). Hamlet studied at Wittenberg, a center of the Reformation. Hamlet’s past behavior gives evidence that he is affected by the Renaissance and the Reformation. The effect that the Renaissance and Reformation have on his actions is most apparent in his inability to avenge his father’s murder. Hamlet learns from the ghost of his father that his death had been a murder, and that â€Å"the serpent that did sting thy father's life now wears his crown† (1. 5. 46-47). The ghost asks Hamlet to â€Å"Avenge his foul and most unnatural murder† (1. 5. 26). Hamlet is eager to undertake this responsibility, and says â€Å"Haste me to know’t, that I, with wings as swift / As mediation or the thoughts of love / May sweep to my revenge† (1. 5. 30-32). But in actuality, Hamlet rethinks his commitment, and procrastinates. One instance of Hamlet procrastination is when he decides that he will not kill Claudius until he has actual proof of Claudius’s crime. Hamlet presents Claudius with a play. One sene of the play â€Å"comes near the circumstance,† (3. 2. 76) it’s plot is similar to Old Hamlet’s murder. Hamlet tells Horatio to â€Å"Observe mine uncle. If his occulted guilt / do not itself unkennel in one speech† (3. 2. 79-80). Hamlet wants Horatio to detect any sign of Claudius’s remorse or guilt. Why does Hamlet suddenly begin to doubt the reality of the ghost? Hamlet’s uncertainty is due to his protestant upbringing. â€Å"[Hamlet] attended Wittenberg, a Protestant school . . . and Protestants did not believe in ghosts† (Neuman). The Reformation had given rise to a new faction of the Church, the Protestants. Hamlet was educated by Protestants, who didn’t believe in ghosts, therefore he is reluctant to accept the ghost’s message. Hamlet’s hesitation to believe the ghost can also be related to Renaissance skepticism. Renaissance humanism and individualism, emphasized the belief in human reason, and Humanists started challenging and questioning the world around them. Hamlet is affected by Renaissance skepticism, and therefore is suspicious of the ghost’s reality. Another obstacle that stood in the way of Hamlets revenge was the opposition of the church and state, of Renaissance English, to taking revenge. The state viewed revenge as taking the law into one’s one hands and undermining the political authority of the state. They felt that the right and correct response to the original crime would be to allow the legal system to take over. The church disproved of revenge because they considered it disgraceful and a result of jealousy and hatred. In their opinion, God was the ultimate avenger. Hamlet’s struggles between society’s opposition to revenge and his own personal desire to avenge his father’s death. The belief of the afterlife is another cause for Hamlet’s inaction, lies in. The Protestant Reformation caused many debates about the existence of Purgatory and the road to Heaven. Catholics believe that â€Å"how we behave – will determine where in the afterlife you will eventually end up† (Zammit). One who dies in â€Å"God’s grace and friendship and [is] perfectly purified, live[s] forever in [heaven]. † If one dies and is still â€Å"imperfectly purified,† he will â€Å"undergo purification† (biblehistory) in Purgatory. If one dies â€Å"in a state of mortal sin, [he will] descend into hell† (Catechism of the Catholic Church). On the other hand, Protestants believe that anyone who accepts Jesus, receives him by faith and repents will go to Heaven. Those who reject God are sent to Hell, a place of torment and separation from God. Purgatory is never explicitly mentioned in the bible, therefore Protestants reject the Roman Catholic teaching that there is also a transitional place or process of purification of the soal. According to the Protestants, there is no Purgatory. Hamlet is unsure about the afterlife. At times he accepts the Catholic view, and at other times he trusts the Protestant view. Hamlet is presented with a perfect opportunity to kill Claudius. He approaches a kneeling, praying Claudius, but â€Å"he is consumed with the Christian notion of the afterlife. The conception that if one died while in prayer, they would automatically go to heaven† (A Christian Excuse for Cruelty). Hamlet wants to kill Claudius â€Å"when he is drunk asleep, or in his rage,/ Or in th'incestuous pleasure of his bed,/ At gaming, swearing, or about some act/ That has no relish of salvation in't† (3. 3. 89) so that Claudius will go to Hell. Although in the pervious instance, Hamlet leans towards the Catholic approach, he later discusses his uncertainty about the afterlife. Hamlet feels that if he cannot act, he can at least kill himself to escape his situation. But, in his â€Å"To be or not to be† soliloquy, Hamlet dismisses his suicidal plans because of his doubts about the afterlife. As Smith points out, at one point in his soliloquy, Hamlet â€Å"thinks for a moment that [death] may be like a deep sleep,† which seems like a fairly pleasant situation. But then, Hamlet wonders, â€Å"To sleep: Perchance to dream: ay there’s the rub; / For in that sleep of death what dreams may come† (3. 1). Hamlet is afraid of the dreams of the after life, the â€Å"pains that the afterlife might bring† (Smith). Hamlet continues to discuss the â€Å"dread of something after death,† and comes to reject his plans of committing suicide because of his dubiousness of the afterlife. Hamlet’s inability to act is largely a byproduct of the time period during which he lived. Hamlet was influenced by society’s views, doubts and beliefs. Even today, people’s actions are largely effected by the characteristics of the time period, and by society's pressures.