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1. Discuss the various accounting methods and what types of considerations should be taken in determining which method is the best option for an S Corporation.

2. Explain the guidelines for choosing whether to elect a calendar year or fiscal year for financial reporting.

3. Describe the overall process for determining the income tax for an S Corporation.

4. Why would some items be separately stated and passed through to shareholders while others are not? What determines this?

5. Describe the different elections that could be taken as related to gross income and what influences these.

6. How might capital gains or losses impact the income distribution of an S Corporation?

7. Describe the guidelines that apply to related person transactions.

8. How is property distributions to shareholders handled typically?

Professional Development Question

You may use one or a combination of the following when completing this exercise:

1. Online research

2. Real-life experiences

3. Interview or professional experts

4. Textbook materials

Write a 1-2 page paper that covers the accounting methods that might be used by S Corporations and what types of decision criteria should be evaluated in selecting an optimal one. Students should also include a review of the two options for reporting periods (calendar vs. fiscal) and what types of things are used to decide which is the more appropriate one to elect, as an S Corporation filer.

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Select one of the needs of Community South Medical Center and identify at least one strength, one weakness, one opportunity, and one threat (S.W.O.T.) for that need. How do each of these (e.g., the strength, the weakness, the opportunity, and the threat) correlate to the overarching issues confronting Community South Medical Center?

Is it time to revise the strategic mission and plan of the organization from three years ago or continue as originally planned with a yearly assessment? Should the C.E.O. address the issues confronting Community South Medical Center or wait another year? If so, what should the strategic plan be? If not, why?

What leadership positions would be a part of your strategic management team? Why? What would each of their responsibilities entail.........

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Starbucks Coffee Company's success in the coffee business echoed resoundingly across the globe. The company was able to attract many customers despite its overpriced coffee. The coffee-chain managed to draw the attention of investors as well, as they saw in the Starbucks a profitable investment. Starbucks is best known for its overpriced coffee and its excellent stores adorned with comfortable couches and wonderful music. Starbucks marketed itself as the "Third Place" - a place where people can go aside from home and the workplace.

The rapid growth of Starbucks has become a success story in the business world and many people are bewildered by the company's business strategy. Who could have imagined that a coffee outlet, selling overpriced coffee with fancy Italian names, can persuade people to buy its products, and can make these people happy? Why are financiers lured into investing in the company? Why do investors put their money in Starbucks stocks? What's in Starbucks that made it very successful in the coffee business, selling its products at grossly high prices and yet been able to attract both the buyers and the investors?

For sure, the speedy success of Starbucks is a mystery in the industry of coffee business. Starbucks' rivals were not able to match the rapid growth of the company. In a span of less than two decades, Starbucks was able to open tens of thousands of stores across the globe. The value of its shares in the stock market also increased rapidly, evidence of its attractiveness to investors.

However, the Starbucks "miracle" ceased to become a miracle. The fast-paced growth that the company experienced had gone to a sudden stop. Starbucks posted a 50% decline in profit by the end of the 2008 fiscal year. The company's stocks fell sharply to $9.44 at the end of 2008, from a high of $38.45 in mid-2007.

Currently, the coffee store is undertaking a major organizational retransformation. Starbuck has always associated itself with high customer satisfaction level. In the recent survey carried out by the marketing department found out that Starbucks was not meeting its customer's expectations in terms of customer satisfactions.

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Develop a managerial report summarizing your analysis of the AEI service capabilities. Make recommendations regarding the number of technicians to be used when AEI reaches 20 customers and AEI reaches 30 customers. Include a discussion of the following in your report.

1. What is the arrival rate for each customer per hour?

2. Which queuing model will you use? What is arrival rate for each customer per hour?

3. What is the service rate in terms of the number of customers per hour? Note that the average travel time of 1 hour becomes part of the service time because the time that the service technician is busy handling a service call include the travel time plus the time required to complete the repair.

4. AEI is satisfied that one service technician can handle the 10 existing customers. Use a waiting line model to determine the following information:

5. Probability that no customers are in the system

6. Average number of customers in the waiting line

7. Average number of customers in the system

8. Average time a customer waits until the service technician arrives

9. Average time a customer waits until the machine is back in operation.......

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Part -1:

The Case: DESIGNING FOR DOLLARS

Great product design is absolutely critical for most consumer products companies. But how do these companies know when a design feature will pay off, especially when every dollar counts? How do they make those tough decisions? That's the challenge that faced Whirlpool's chief designer, Chuck Jones. He knew he had to come up with a better way.

Chuck's realization that the whole process of making design decisions needed to be improved came after a meeting with Whirlpool's resource allocation team. Chuck wanted to add some ornamentation to a Kitchen Aid refrigerator that was being redesigned, but it would have added about $5 in extra cost. When the team asked him to estimate the return on investment (that is, would it pay off financially to add this cost?), he couldn't give them any data. His "trust me, I'm a designer" argument didn't sway them either. Chuck resolved to improve the approach to investing in design.

His first step was the survey other "design-centric" companies, including BMW, Nike and Nokia. Surprisingly, only a few had a system for forecasting return on design. Most of them simply based future investments on past performance. Chuck said, "No one had really figured this stuff out." With so many smart, talented people in their field why had no one been able to come up with a good way to make those decisions? According to two accounting professors, one reason is that it is incredibly difficult to discern designs contribution from all the other business functions (bargaining, manufacturing, distribution and ethics). And even the designs profession couldn't agree on how to approach this problem. Despite the obstacles, Chuck continued his quest to find a way to objectively measure the benefits of design.

What he eventually concluded was that a focus on customer preferences would work better than a focus on bottom-line returns. If his team could objectively measure what customers want in a product and then meet these needs, the company could realize financial returns. Chuck's design team created a standardized company¬wide process that puts design prototypes in front of customer focus groups and then gets detailed measurements of their preferences about aesthetics, craftsmanship, technical performance, ergonomic, and usability. They chart the results against competing products and the company's own products. This metrics -based approach gives decision makers a baseline of objective evidence from which to make investment decisions. Design investment decisions are now based on fact, not opinion. The "you" decision-making approach has transformed the company's culture and led the boarder designs because the designers can now make a strong case for making those investments.

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You will need to develop sets of skills to enhance your employability-hard skills and soft skills.

Hard skills include career-specific techniques, knowledge, and experience related to the tasks you will perform on the job. For example, to become a psychologist, you would need to develop hard skills such as knowledge of counseling theories, the ability to administer psychological tests, and the ability to diagnose mental illnesses.

• Describe the differences between hard and soft skills. Cite at least one academic source for this description.

• Analyze the possible reasons for the recent findings that fewer college graduates are employment ready. In other words, explain why they are lacking in hard and soft skills. Back up your ideas and opinions with information cited from this module''s required readings or other academic sources.........

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Conducting a Job Search

An undergraduate psychology degree provides you with some flexibility when selecting a career. The knowledge of how people think, develop, and behave, as well as the interpersonal skills gained from a BA in psychology may lead to work in the field, but also prepares you well for careers in the fields of public service, marketing, or management, among others. Because most professional careers in psychology require further education, those who do not wish to pursue graduate degrees may need to broaden the scope of careers they are willing to consider.

Mock Job Search

Select one of the three careers you identified and discussed in M1 Assignment 2 and conduct a job search for actual openings in your area. If you are willing to eventually relocate, you may choose openings elsewhere as well. You may choose to use at least one source or all of the following sources to find available positions in your chosen career of interest:

• Local newspaper ads (online or printed editions)

• Networking websites such as LinkedIn

• Networking with colleagues, peers, or other contacts

• Your state employment office

• Listings on professional organizations'' websites

Job Search Data Bank

Click here to download and review a copy of the "Job Search Data Bank" template. Provide the results of the mock job search you completed for this assignment by filling out the table in the template.

Begin by summarizing your career interests. Briefly describe what you concluded from Module 1 about the types of positions best suited to your career interests. For example, if you are most interested in a career as a psychologist, would you prefer to pursue a position in a clinic, a private practice, or a nonprofit organization? Would you prefer to specialize in working with children? Do you hope to have a research or teaching position instead?

List at least four positions you found during your job search. These four positions should match the interests you identified in Module 1.

Describe each position fully, providing as much of the available information as possible from the ads. Copy the ads and paste them into the table.

For each identified job opening, indicate the likelihood of your being eligible for the position upon graduating from college with a bachelor''s degree.

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In January 2012, famous and one of the oldest photography product company, Eastman Kodak filed for protection in U.S. Bankruptcy Court for the Southern District of New York. According to Robert Burley, an associate professor at Toronto's Ryerson University, although Kodak anticipated the inevitable rise of digital photography, its corporate culture was too rooted in the successes of the past (film-based photography) for it to make the clean break necessary to fully embrace the future.

Kodak was slow to respond to the changing marketing conditions and consumer preferences. Also, over the last several years, the rise of the smartphone further transformed the market, as consumers increasingly preferred to use feature-rich iPhones and Google Android devices over digital cameras.

The main issue behind this case is the problems faced by the Eastman Kodak Company in the process of changing to Digital technology in photo printing. Keeping the recent collapse of Kodak in mind, analyse the given case study and answer the given questions;

• What were the driving forces behind Kodak's decision to transition to digital photography?

• What were the major issues faced by Kodak in the transition process?

• Now that you know what happened to the company, what went wrong at Kodak from the Change Management perspective.......

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Continuing growth of the company has required that we issue the company's corporate debt soon.

As you know, in 6 months we plan to issue $10 million worth of 20-year corporate bonds with a coupon of 8%, paid semiannually. Since this is our first large issue of longer term debt, I am concerned that the interest rates may drift higher over these months prior to the actual bond issuance. Could you come up with any suggestions as to how to protect us against a possible change in interest rates?

If you decide to use Treasury bond futures contracts,

1. When interest rates increase by 150 basis points.

2. When interest rates increase by 250 basis points.

What's needed from you

1. Describe the main characteristics of the futures contracts Bob suggested in his reply (such as price of a standard contract, term to maturity, and semiannual coupon rate of a standard contract) and whether you have enough information for the assessment of the hedge.

2. Determine the implied semiannual yield on the futures contracts, given the price of 96-19. As a reminder, T-bond futures are $100,000 per contract, 20-year to maturity, 6% coupon, semiannual compounding.

3. For the purpose of this case, you may assume that there are no transaction costs to buy or sell any futures contracts. You would want to use either the Excel function called RATE or a financial calculator.

4. Determine how many contracts you would need to hedge the entire amount of the issuance of the bonds and what you should do -- buy or sell?

a) Number of contra cts needed for the hedge

b) Value of the contracts in hedge

c) Determine implied annual yield using the data calculated in Step 2 and Excel function RATE.

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Logical Database Design

1. For the ER diagram you created in assignment, the artefact of the conceptual database design, map the ER model into the relational model according to how it was designed in the ER diagram. You may however first refine or completely re-do your ER diagram if necessary, and you are allowed to make use of any part of our above displayed ER diagram skeleton to incorporate into your design in any way you like if you feel your original design is not in a state to be implemented later. While there can be a variety of acceptable designs, we here attach one simplistic rough sketch for the comparison purpose.

2. Consider a greatly simplified core recruitment system whose ER diagram is shown on the right.

Draw the corresponding GRD, exhibiting all the primary keys and foreign keys. For simplicity, no other attributes nor multiplicity constraints are required.

Are the tables in the GRD all in 3NF?

For a particular casual job, if none of the (registered) casual staff meet the requirements on the corresponding expertise, will the primary key or foreign key constraints in your GRD prevent the database system from assigning an unqualified casual to the job? Briefly explain why.

1. For all the relations that arise from this ("first-cut") ER diagram, list all those (in schemas) that are already in 3NF. If there are some relations that are not in 3NF yet, list them as well.

2. Draw the global relation diagram for your final, revised, and normalised database design, and keep all the relevant details there. It should be in a form similar to Figure 17.9 (page 516) of the textbook, but all the attributes should be kept there too. Include in the diagram all the primary keys, foreign keys, and the multiplicity constraints. Identify and discuss the potential data redundancies or anomalies that may still exist in your design, if any.

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1-Explain the term model , and describe how models can help us understand our complex physical world

1. Fully describe the concepts of feedback and equilibrium .provide an example from a natural system

2. Name and fully describe each of the four great physical realms of the earth . what is the life layer ?

3. Describe the process of subduction as it occurs at a convergent boundary of a continental and oceanic lithospheric plates .how is subduction related to volcanic activity ?

4. suppose astronomers discover a new planet that , like the earth , has continents and oceans . They dispatch a reconnaissance satellite to photograph the new planet .what features would you look for , and why , to detect past and present plate tectonic activity on the new planet........

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1. What is the rationale for discounting when you calculate the cost and benefits of government programs?

2. Amortize an investment of $50,000 for a three-year period at an interest rate of 7%.

3. Describe one reason why the consumer price index overstates the inflation rate.

4. Explain in your own words this passage from the reading by Viscusi:

"Noneconomists speculating on what must be meant by the economic value of life typically think of accounting measures, such as the present value of lost earnings. These human capital measures are not an appropriate guide to the value of life from the standpoint of preventing accidental deaths. As will be indicated below, statistical evidence on the value of a statistical life suggests that these values are roughly an order of magnutide greater than the present value of the earnings for the individual exposed to the risk."

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You are invited as an engineer to perform a study for a newly built community to cover their power need of 30 MW. You are told that there are two options for you to consider: (a) a natural gas fueled steam (actual Rankine cycle based) power plant and (b) a hot geothermal water (at 190oC) driven isobutane Rankine power plant. You are now requested to study these two systems energetically, exergetically, environmentally and economically to make recommendations.

1) Follow the following procedure:

o Design both power plants

o Make problem statement

o Show the cycles on a T-s diagrams with respect to saturation lines

o Make CONCEPTUALLY CORRECT assumptions and approximations for each plant

o Identify physical laws

o List properties in the table for each plant based on the state points

o Write balance equations (mass, energy, entropy and exergy)

o Do calculations through EES software for all mass flowrates, heat and work rates, efficiencies for all components and the entire system...........

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Earl Smith is a financial controller with Practical Solutions Pty Ltd, an entity that sells software products to accounting firms and small businesses. At present, Mr Smith is analysing a number of software packages that focus on job costing. He needs to pick one package that he can recommend to his clients. Each software vendor is keen to have their software selected as it will result in a significant increase in sales for their company.

Anita Loo is a salesperson for the software company Dogto Ltd. She has told Mr Smith that he should go to Los Angeles to analyse her company's software package properly, because the programming experts there could give him a thorough demonstration. Ms Loo has also suggested that he take his family, so that he feels relaxed in a foreign country and is in the right frame of mind to undertake his analysis. She also suggests that Disneyland is worth visiting while Mr Smith is over there. Dogto Ltd would pick up the expenses for the trip.

Questions.

a. Outline any ethical issues involved in Mr Smith taking the trip. Relate any ethical issues directly to the facts of the business case.

b. Outline any benefits to Practical Solutions Pty Ltd of Mr Smith taking the trip.

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a) A new building is to be built on a series of spread foundations that will be undrained by saturated clay. Undisturbed soil samples have been obtained from this site and are ready to be tested. Should the laboratory test programmer focus on producing values of c' and Ø', or Su (undrained shear strength)? Explain.

B) A grain silo, which is very heavy structure, was recently built on saturated clay. Because the harvest season was fairly short and intense, the silo was completely loaded fairly quickly (i.e., within a couple of weeks). This is the first time the silo has been loaded. The grain weights about twice as much as the empty silo. The weight of this grain, along with the weight of the silo, has induced both comprehensive and shears stresses in the soil below.

Suddenly, someone has become concerned that the soil may be about to fail in shear under the weight of the silo and grain. This is a legitimate concern, because such failures have occurred before. Discuss the soil mechanics aspects of this situation and determine whether the risk of failure in the soil is increasing, decreasing, or remain constant with time.

What are the two principle factors influencing the allowable bearing pressure in the design of a specific footing? Are both of these factors equally important? Are both factors likely to be equally relevant for different soils types...........

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Question 1:

"United Pigpen is considering a proposal to manufacture high-protein hog feed. The project would make use of an existing warehouse, which is currently rented out to a neighboring firm. The next year's rental charge for the warehouse is $100,000, and thereafter the rent is expected to grow in line with inflation at 4 percent per year. In addition to use of the warehouse, the proposal envisages an investment in plant and equipment of $1.2 million. This could be depreciated straight-line for tax purposes over 10 years. However, Pigpen expects to terminate the project at the end of eight years and to resell the plant and equipment in Year 8 for $400,000. Finally, the project requires an initial investment in working capital of $350,000. Thereafter, working capital is forecasted to be 10 percent of sales in each of Years 1-7.

Year 1 sales of hog feed are expected to be $4.2 million, and thereafter sales are forecast to grow by 5 percent per year-slightly faster than the inflation rate. Manufacturing costs are expected to be 90 percent of sales, and projects are subject to tax at 35 percent. The cost of capital is 12 percent. What is the NPV of Pigpen's project?

Operating costs are 90% of rev

depreciation = $1.2mil/10=120k

tax rate 35%

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The financial difficulties in 2000 make Citilink understand the importance of financial management. In view of the global financial fragility, Citilink's board of directors would like to take a review on the financial status of the company. As an independent business consultant, you have to write a FORMAL BUSINESS REPORT to the Board to address the following issues:

(a) Identify the sources of short/medium and long term finances available to Citilink now and in near future. You may refer to Appendix I to support your findings, if needed.

(b) Assess the legal, financial, control, and bankruptcy implications of the different sources identified at Task 1(a) above.

(c) Analyse the finance costs of the respective sources of finance, as identified at Task 1(a) above.

Citilink has just completed its 2010/11 management accounts. The directors are going to review the financial statements in the next board meeting. You have to prepare a FINANCIAL REVIEW REPORT for presentation at the board in the capacity of the Finance Director of Citilink. In order to have a critical review, you have collected the financial statements of Grayline, the market leader in the bus transportation industry. All the financial statements are at June 30. The report should cover the following issues:

(a) Discuss the formation of financial statements by introducing debit, credit, books of prime entry, accounts and ledgers, trial balance, final accounts..........

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1. Fred, an executive of a British corporation specializing in management consultancy, comes to Australia to set up a branch of his company. Although the length of his stay is not certain, he leases a residence in Melbourne for 12 months. His wife accompanies him on the trip but his teenage sons, having just commenced college, stay in London. Fred rent out the family home. Apart from the absence of his children, Fred's daily behavior is relatively similar to his behavior before entering Australia. As well as the rent on the UK property, Fred earns interest from investments he has in France. Because of ill health Fred returns to the UK 11 months after arriving in Australia. Discuss residency and source issues.

2. During the current tax year Erin received the following amounts:

• Salary and wages income of $98,000

• A bank term deposit of $50,000, which earned interest of $4,200

• A rental property from which she received $500 per week for 50 weeks of the year

• Winnings of $10,000 on the poker machines

• $500 from selling to friends eggs that her chickens laid

• A holiday bonus of $,1000 from her employer

• A watch worth $200 from a happy client

What is Erin's ordinary income for the current tax year?

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Robert and Chip organized Chipper Corporation on January 1, 2008. Each of these owners invested $100,000 cash and received shares of stock. Below are selected transactions that were completed during January 2008:

(1) Owner's invested $100,000 each to start the business.

(2) Prepaid three (3) months rent for $15,000 ($5,000 each month).

(3) Purchased equipment by signing a $75,000 note payable for $50,000 and paying the remainder in cash.

(4) Purchased two service vehicles for $24,000 each, paid $20,000 cash.

(5) Purchased $1,000 of supplies on account.

(6) Sales revenue on account was $85,000.

(7) Paid expenses of $48,000.

(8) Collected $42,000 from customers on account.

(9) Paid $2,000 on the note payable for the equipment and $1000 for the note payable for the service vehicles.

Record each transaction in journal form and post to the appropriate accounts in the ledger. Prepare a Trial Balance for January 31, 2008.

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Case study on bone tissue structure and repair

Mrs. Debbie Morgan is a 45-year-old female who works as a stocking clerk for a local home improvement store. While she was at work today a large box of metal rivets fell from a 20-ft.-high overhead shelf, striking her outstretched arm and knocking her to the ground. The ambulance personnel reported that she had lost quite a bit of blood at the accident scene and was "knocked out" when they arrived. To minimize further hemorrhage, the paramedics applied a pressure bandage to her arm.

You meet the paramedics as they bring Mrs. Morgan into the emergency room and begin to assess her for injuries. She is awake and alert, but complaining of severe left arm and back pain, plus she has a "killer headache." To fully examine her injuries you remove four blood-soaked bandages from her arm. You notice a large open wound on her arm with what appears to be bone tissue sticking out of the skin. She also has bruises covering her left shoulder, left wrist, and lower back. To determine the extent of her injuries Mrs. Morgan undergoes several x-rays, which reveal the following:

a) fracture of the left humerus at the proximal diaphysis,

b) depressed fracture of the occipital bone,

c) fracture of the 3rd lumbarvertebral body.

Short Answer Questions:

1. One way bones are classified is by their shape. How would you classify the bones fractured by Mrs. Morgan?

2. The body of Mrs. Morgan''s vertebra is fractured. What type of bone tissue makes up the majority of the vertebral body? Describe the structure and function of this type of bone.

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