Hoffman Discount Drugs, Inc Free Essays

Case 7-3 (2) The first alternative of giving Data Systems control of product with exchange for any product after year end implies that the revenue is not earned until the final product is determined after year end. In this situation, Excello cannot recognize its revenue until Data System is totally sure the final products that they are actually want to purchase. For example, this year, Data System bought 1000 fax machines, but next year Data System will change it to another 1000 ones and return the previous products at the same time. We will write a custom essay sample on Hoffman Discount Drugs, Inc or any similar topic only for you Order Now Meaning to say, Excello still have control on it and same goes with Data System. According to FRS, revenue only can be recognize when and the value is determinable. The second alternatives of transfer ownership with guarantee that Excello would purchase equipment with ten year useful life as the sale implies that Excello would have to recognize a liability to Data System in the amount of the revenue. Meaning to say, first Excello needs to transfer the ownership to Data System for the revenue recognition and at the same time Excello needs to recognize the liability towards Data System. Again, if Excello does not recognize the liability to Data System, so it is an offense. The third alternative allows the return of the merchandise for full credit anytime after year end is conditional sale. Revenue should not be recognized until after the deadline for the full credit. Meaning to say, the value should be determinable in order to recognize it as revenue. If I am the chief financial officer, I would recommend to the Data Equipment System for the second alternatives. Of the three alternatives, the second alternatives has the revenue earned before year end and would be in accordance with GAAP as long as Excello also recognizes their liability to purchase a product from Data Systems. The first offer, it is not ethical if we record the revenue too soon because the earning process has not been completed and the conditional exchange still valid. We cannot record the revenue until the product would be exchange. For the third offer, as we know the revenue cannot recognized in the current year. Means that, the actual amount of revenue do not recorded. It is also unethical if we record the revenue since we know the deadline for the full credit is in the next year. We should strive with the virtue perspective such as honesty, objectivity and trustworthiness in recording the revenue. Honesty requires that the statements should be truthful and recognize revenue using generally accepted accounting principles. Objectivity requires that the company should approach its decision about the proper revenue recognition procedure with fair-mindedness and without partially to one set of stakeholders. Trustworthiness means that the accountants should not violate the investors’ faith that the statements are accurate and reliable. Other than that, to make a decision we should consider the greatest good for the greatest number of stakeholders. How to cite Hoffman Discount Drugs, Inc, Papers

Colonial Differences Essay Example For Students

Colonial Differences Essay The differences in development between the New England colonies and the Chesapeake or Middle colonies occurred for a many number of reasons. First, they were different people. They come from different places and had different ways of life. Not only did the two regions both have different governing systems, but they were also driven to the New World by different religions or incentives. Even their slight economic differences helped to shape the individuality of the two areas. Most could probably see that is was painfully obvious as to who the religious fanatics were. New Englands colonists seemed to have a more religious tone, than did that of the Middle or Southern regions. The Puritans, who had apparently come to America to escape ridicule and religious persecution, were taking up on that very idea, punishing all those whom did not share in their ideas. They were stiff, strict people and did not allow for much, but the main idea is that they were driven by a higher power, God. This made the Puritans successful Massachusettss colonists in that they were strong-willed and willing to make their government work. The type of government chosen by the Puritans worked well, a theocratic environment. A theocracy is defined as government of a state by immediate divine guidance or by officials who are regarded as divinely guided. According the John Winthrop, who was to be their governor for some number of years, it seemed that their grand purpose in America was to build A City upon a hill, in which the eyes of all people were upon them. In other words, they thought their purpose in the New World was to construct the model city. Connecticut, one of the other New England colonies was basically like Massachusetts. Their only quarrel with the Bay colony was that it was not strict enough. Not all of the New England colonies were formed by the Puritans. The small state of Rhode Island manifested from the outcasts of the Puritans. Rhode Island was a haven for independent thinkers, for those such as Ann Hutchinson who was banished from he Bay colony. Later on, the Quakers (Separatists), and Jews began to appear in the colony. In the Middle colonies, things were a bit different. Some of the religious tone was still there, however it didnt really affect the governing of the colonies. The Chesapeake colonies were established as proprietary colonies, which is basically halfway between a royal province and a self-governing colony. Control of the colony went to a man or group of men appointed by the king. These people then appointed the governor, set up law courts, and collected land tax from the settlers. The Middle colonies were still definitely interested in religious freedom. Maryland, in fact, was a colony founded for Catholics. The Quakers, who were a special kind of Puritan, founded the state of Pennsylvania. They believed in equality very strongly and were not welcome in England. The economic standings of these two regions also helped develop some of the differences, which made them evolve into two separate societies. Take it as no surprise that the Middle colonies had the best-balanced economy due to the wide variety of products they could offer. Not only could they manage the fishing and lumber, etc. of the New England colonies, but because they could go farther inland, they were also able to do some of the agricultural work that the colonies farther South were getting into. They were also able to put the new, African slaves to more use. Cheap labor was better than costly labor. Even the shear immigration numbers made a difference in the development of the two regions. For example, the densely populated New England consisted mainly of families including the husbands, wives, and children, while the Middle colonies, which were nonetheless still densely populated, consisted of a majority of men, with a small percentage of unmarried women who were to eventually become the wives of the men. .u2e0b5e46eba9c184ae61af16d5c35bb7 , .u2e0b5e46eba9c184ae61af16d5c35bb7 .postImageUrl , .u2e0b5e46eba9c184ae61af16d5c35bb7 .centered-text-area { min-height: 80px; position: relative; } .u2e0b5e46eba9c184ae61af16d5c35bb7 , .u2e0b5e46eba9c184ae61af16d5c35bb7:hover , .u2e0b5e46eba9c184ae61af16d5c35bb7:visited , .u2e0b5e46eba9c184ae61af16d5c35bb7:active { border:0!important; } .u2e0b5e46eba9c184ae61af16d5c35bb7 .clearfix:after { content: ""; display: table; clear: both; } .u2e0b5e46eba9c184ae61af16d5c35bb7 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u2e0b5e46eba9c184ae61af16d5c35bb7:active , .u2e0b5e46eba9c184ae61af16d5c35bb7:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u2e0b5e46eba9c184ae61af16d5c35bb7 .centered-text-area { width: 100%; position: relative ; } .u2e0b5e46eba9c184ae61af16d5c35bb7 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u2e0b5e46eba9c184ae61af16d5c35bb7 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u2e0b5e46eba9c184ae61af16d5c35bb7 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u2e0b5e46eba9c184ae61af16d5c35bb7:hover .ctaButton { background-color: #34495E!important; } .u2e0b5e46eba9c184ae61af16d5c35bb7 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u2e0b5e46eba9c184ae61af16d5c35bb7 .u2e0b5e46eba9c184ae61af16d5c35bb7-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u2e0b5e46eba9c184ae61af16d5c35bb7:after { content: ""; display: block; clear: both; } READ: Alcohol Abuse in American Youth EssayPerhaps there is something to be said for the Indian relations that existed for these colonies. Needless to say, the Puritans did not go well at all with their heathen neighbors. New England killed off all but one fourth of the major Indian population in the area. The Middle colonies had some of the same problems, however the Quakers had exceptionally good standings with the Natives. Since they seen them as equals, they too, were treated as equals. So, there really were many reasons that the New Englanders and Chesapeake colonists developed into two distinct societies. Differences in religion, along with differences in preferences of government caused quite a bit of divergence. Even the economy, which was actually shaped by geography of the land, made a difference. However most of all, the difference was that they were difference types of people, and the people are the ones who make the community.

Survival Of The Fittest Essays (1220 words) - Charles Darwin

Survival Of The Fittest Charles Darwin felt strongly that observations made on large scale explorations such as his voyage on the Beagle showed conclusively that many clearly different organisms, animals as well as plants, were related to one another buy some unknown law. In other words Darwin was trying to prove that evolution existed. However Darwin does outline how a purely natural process of selection could produce similar effects, and thus explain the development of new species without reference to supernatural intervention. Taking that into consideration, I believe that by "Natural Selection" Darwin is trying to portray the struggle for existence and adaptation for survival among living things. With Natural Selection, Darwin used this term to explain the casual mechanism, which is responsible for the operation of his theory. He would go about and abandon his term in favor of the term Survival of the Fittest. Although he received criticism from so many of his peers for using Natural Selection, the term is quite important because virtually all biologists used it as the explanation for the mechanism. A main reason why Natural Selection was not very popular was because evolution requires enormously long periods of time, that the everyday experience of human beings provides them with no ability to interpret such histories. Looking at Darwin's position, Survival of the Fittest had a great meaning on the struggle for existence and Darwin's emphasis on abundance. First looking at Survival of the fittest, it's a phrase that describes the outcome of a competition where there is no possibility of predicting the outcome in advance because of the complexity of the conditions of the competition. It describes only the effect or outcome of an event by its very nature and regardless of the situation in which it is used. For example, if it were used to describe the outcome of an auto race such as the Nascar, using the term, It will be survival of the fittest" would indicate that the victor would be unknown until the end of the race. Similarly, if discussing the survival of a business in a collapsing economy or perhaps the survival of a race of people during fierce wars would indicate that nothing would be known about the outcome until the end of the particular event. Secondly Survival of the Fittest was used extensively because it was a better, more descriptive, explanation of the mechanism of which evolution occurred. The term contains an implicit assumption that survivors are an improved form of organism compared to those, which do not survive. Although intelligence is a key to improvements it is not however true for the field of biological reproduction. There is no human intelligence available to weed out the defectives and alter the process toward a more desirable end. As more individuals are produced that can possibly survive, there must in every case be a struggle for existence, either one individual with another of the same species, or with the individuals of distinct species, or with physical conditions of life. Keeping that in mind, I came upon one of the greatest mysteries of biological history, the vanishing of the dinosaurs. Here Survival of the Fittest plays a routine role because the fittest were some form of bacteria. Does that mean that the smaller the organism the more chances of it to survive? A look at the fossil record shows that 99.99% of the survivors were simpler organisms and the survivors that we know of today are not the 0.01% of survivors that are more fit from a complexity standpoint and thus prove the methodology of the theory. So what does the term fittest mean? It is speculated that the term "fittest" refers to an organism which has the best capability for acquiring and using all the available nutrients, all while developing or having a capability of fending off physical threats to its existence. However this concept would indeed be an explanation for a certain type of organism. For example, there are many coral deposits throughout the world, some which are immense in size such as the body coral, which is currently in Florida. Unfortunately marine coral is really not an organism, but rather a collection of organisms. Since there are really no such organisms in existence as described above, it must be concluded that this is not what the "fittest" is, in the sense of Darwin's meaning. The term "fittest" as contained in Survival of the Fittest can only be construed as the organism fitter than other members of organisms falling into a special group. This is consistent with

Socrates, Plato & Aristotle essays

Socrates, Plato & Aristotle essays Socrates, Plato and Aristotle were famous Greek philosophers who questioned the most basic and widely accepted ideas. Their philosophy was also based on virtue, or moral excellence. Socrates based philosophy on the idea that virtue is knowledge, Plato believed that virtue is a form of understanding and Aristotle believed that virtue is the basis of truths. Socrates believed that to do wrong is to damage one's soul, and that this is the worst thing one can do. Also it is always worse to do wrong than to be wronged, and that one must never return wrong for wrong. Socrates also maintained that virtue is knowledge, called the Socratic paradox, and therefore no one can do wrong in full knowledge. Socrates also insisted on being given a definition that universally covers its subject. This was of the greatest importance for the subsequent development of philosophy because it led to the concept of a universal or a general quality that may be present in many individually existing things. Also important is Socrates' implicit assumption that any person to whom he talks has within him or her, the resources to answer questions correctly. Socrates therefore believes that he can teach merely by asking the right questions. Plato teaches about the power of reason to reveal the intelligibility and order governing the changing world of appearance and to create a harmonious and happy life. He believed that virtue is a form of understanding and that the good life must consequently be grounded in knowledge. The philosopher is pictured as in love with the world as it truly is. His wish to see through the world of flux to the true principles of its being is thus basically an act of love. This love is not simply an attraction to the good but a creative force for the procreation of the good. Plato was impressed by the fact that language has the capacity both to articulate the intelligibility of the world and to belie the world's true being. He constantly a...

Reading assignment Example | Topics and Well Written Essays - 750 words - 2

Reading - Assignment Example Although sovereign citizens have a lot of strategies which up their modus operandi, an interesting facet of these strategies is the use of bogus lien, in order to propagate and perpetuate sovereign citizens’ Redemption Scheme. In this regard, this paper seeks to address question 3 which demands for a discussion on how Sovereign citizens use of the law to unlawfully seize real estate and their legal "justification." According to Morlin (2013), members of the sovereign citizen use bogus lien to wage war against the government, its citizens, law enforcers and state agencies in order to intimidate, frustrate or threaten (them). The act of intimidating, threatening and even frustrating the government, its agencies, and state operatives is part of the wider Redemption Scheme. As a side note, the wideness of the Redemption Scheme is underscored by the fact that Redemption Scheme may even include killing police officers and the use of the law, as shall be seen forthwith. When law enfo rcers and/ or government officials begin to take legal actions on sovereign citizens, the officials are perceived as not acting within the frameworks of the legal authority. Liens are thus used as a war strategy against the official(s). Sovereign citizens use copyright and trademark laws to perpetuate the use of bogus lien. ... The measure above begins with members of sovereign citizens assessing the perceived damages wrought by the offender’s act of contravening copyright laws against sovereign citizens. These members may then issue First Notice and Demand for Settlement to the offender through certified mail, as a way of claiming monetary damages. Deadlines for the offender’s response may be mentioned. As is provided for by the FBI (2011), upon the expiry of the of the response period, sovereign citizens will issue a Second Notice and Demand for Settlement, with a specified response period through the same certified mail. Upon the expiry of the period for the second response, sovereign citizens may issue the offender with a Notice of Default or a Notice of Dishonor via certified mail. Ten days will be allowed for payment of monetary damages, forthwith. Since the offender seldom responds to these demands because of the fraudulent nature of the litigant’s claims, sovereign citizens will use copies of the previously sent notices and certified mail receipts to place liens against the offender’s assets and property. Provided that the lienor has completed payment on all filing fees and completed all paperwork, courts of law will give the placement of the lien the green light. This measure will not make it whether a lien is fraudulent or legitimate. Apart from the use of the legal measures above, members of sovereign citizens may also use the Common Law Grand Jury (CLGJ) and the Common Law Court (CLC) to perpetuate and justify their agenda. This is a tenable alternative since both CLC and CLGJ also comprise members of sovereign citizens who may pass judgment against offending parties. Members of sovereign citizens may use True Bills to issue Common Law liens against their target. The

The impact of Work environment on employees satisfaction in 5 star Essay

The impact of Work environment on employees satisfaction in 5 star hotels in the USA - Essay Example There exists a significant level of formal knowledge on the subject of employee satisfaction in relation to the working environment. This chapter will briefly evaluate specific areas of knowledge that assess how the different aspects that form the working environment such as general environment (cultures and beliefs), hotel environment (leadership strategies and team work) and organizational behavior will impinge on the employee satisfaction. Also of interest are the consequent effects on productivity. 1.2Work environment. Employee’s attitude and behavior are influenced greatly by the quality of their work behavior are affected by the quality of their work environment Work environment can be broken down into general environment (cultures and beliefs), hotel environment (leadership strategies and team work) and personal impact. Jacques (1951) defined organizational culture as the customary or traditional ways of doing things which are shared to a greater or lesser extent by all members of an organization and which new members must learn and partially agree in order to be accepted in that organization. According to Cole and Thomson (1995) culture is described as a summation of values visions perspectives, standards and modes of behavior in any organization. Human resource strategies have a major influence on shaping the working environment. These strategies include those activities that are necessary in the recruitment of a workforce, providing employees with their payroll, drawing benefit plans, and administrating their work-life needs. The development and utilization of this resource is in a broad sense done in order to advance the organization’s objectives.

Macondo Blow Out Research Paper Example | Topics and Well Written Essays - 1250 words - 3

Macondo Blow Out - Research Paper Example On April the 20th at 9:45 PM the Macondo oil rig experienced a blow out that resulted from a jet of seawater being ejected from the riser accompanied by a slushy of mud and oil followed by jets of methane. This mixture, especially the methane, ignited and caused a series of explosions that served to cripple the well and eventually took the lives of 11 personnel.1 At the time the explosion occurred, the Deepwater Horizon rig was drilling at a depth of around 5000 feet into what experts have described as the Macondo Prospect which is located approximately 40 miles from the coast of Louisiana (Rose et al 2). Although the ownership of Deepwater Horizon has remained unclear to a host of individuals, the fact of the matter was that BP did not operate the rig solely under its own direction. Rather, BP was the owner of the rig itself but only held a 65% share of ownership in relation to the Mississippi Canyon drilling expedition that resulted in the disaster of Deepwater Horizon. Additionally, the remaining 35% of interest in the rig was split between Anadarko Petroleum Corporation, aka Halliburton Corporation, (which held a 25% share) and MOEX Offshore 2007 (which held a 10% share). After the explosion took place, the Macondo Blow-Out began to gush crude oil into the ocean at a rate of around 2.6 million gallons per day. This figure is disputed by different groups that either wish to minimize or maximize the effect that the Deepwater Horizon disaster had on the surrounding environment; however, for this study, the author has chosen to employ the Coast Guard’s estimates as those which were most likely to not experience any form of particular bias with relation to the disaster. Most scholars agree that the rate of flow of the oil seepage continued virtually unabated until the well was capped on the 19th of September of the same year. Certain experts disagree with this analysis and claim that the well gushed more oil in the initial stages  whereas, near the time when the well was capped, most of the pressure had been relieved thus much less oil was flowing.  Ã‚