Buck’s Dilemma Essay

Solution 1 — Classification with the Statement of Cash Flows Buck should present the borrowing and payment activity as a cash flow from financing activities. ASC 230-10-45-14 states that â€Å"proceeds from issuing bonds, mortgages, notes, and from other short- or long-term borrowing† are a cash inflow from financing activities. Similarly, ASC 23010-45-15 states that â€Å"repayments of amounts borrowed† are a cash outflow for financing activities. Solution 2 — Gross versus net presentation Scenario 1 Net presentation is appropriate. Buck may classify the activity as a $50 million net cash inflow ($100 million in total draws less the $50 million repayment) within the financing activities section of the statement of cash flows. Buck’s activities in Scenario 1 are broadly consistent with the requirements for net presentation under ASC 230-10-45-8 and 45-9. Specifically, the draws and payments on the facility can be considered large in relation to the maximum borrowing capacity (Buck actually reached its maximum borrowing capacity before making any repayments). The volume of the transactions is assumed to be large (note, in practice, this determination typically involves judgment and is dependent upon individual facts and circumstances). In addition, the terms of both draws stipulate that all amounts are due on demand; therefore, Buck should consider the draws as having original maturities of three months or less. ASC 230-10-45-9 only permits net presentation when borrowings have original maturities of three months or less. Scenario 2 The activity related to Buck’s first draw and subsequent repayment should be presented on a gross basis within the financing activities section as a $60 million inflow for the draw on July 15, 2010, and a $60 million outflow for the repayment on December 15, 2010. The activity related to Buck’s second  draw and subsequent repayment may be presented on a net basis within the financing activities section. The $40 million draw on September 30, 2010, and the repayment on December 1, 2010, net to zero for annual reporting purposes. Buck’s activities related to both of the draws in Scenario 2 once again reflect some of the characteristics within the cash flow statement guidance. The transactions can be considered large in relation to the maximum borrowing capacity, and the volume of activity is assumed to be large (note, in practice, these determinations typically involve judgment and are dependent upon individual facts and circumstances). Unlike Scenario 1, the terms of the draws do not consider the draws to be due on demand to Buck’s bank. Rather, the first draw has an original maturity of six months, and the second draw has an original maturity of three months or less. Therefore, in accordance with ASC 230-10-45-9, Buck must present the activity related to the first draw on a gross basis because the original maturity is greater than three months. In turn, net presentation is appropriate for the second draw since it has an original maturity of three months or less. Scenario 3 Buck should present all borrowing and payment activity under the Facility on a gross basis within the financing activities section of the statement of cash flows. The draws on the Facility do not have any specific repayment provisions other than the overall expiration date of the Facility as of December 31, 2012. While the activity does have some of the factors needed to consider net presentation, including large dollar amounts in relation to the maximum borrowing capacity and large volumes of transactions (see notes in Scenarios 1 and 2 above), the draws do not have an original maturities of three months or less. Under the provisions of Scenario 3, the only activities that Buck could potentially present net within its statement of cash flows are transactions occurring on or after October 1, 2012. Said differently, only draws occurring within three months of the Facility’s expiration would be considered to have original maturities of three months or less. Solution 3 — IFRSs Under IFRSs, IAS 7 is the primary source of guidance for determining how to present information about the cash flows of an entity within the financial statements. IFRSs and U.S. GAAP are broadly consistent regarding net versus gross presentation. Similar to U.S. GAAP, IFRSs generally require entities to present information about an entity’s amounts of cash receipts and cash payments during a period on a gross basis. However, in certain circumstances, IFRSs permit certain cash flow activities to be presented on a net basis. Paragraph 22(b) of IAS 7 states that cash flows may be reported on a net basis when â€Å"cash receipts and payments for items in which the turnover is quick, the amounts are large, and the maturities are short.† This guidance is generally consistent with the provisions of ASC 230-1045-8. Further, paragraph 23A of IAS 7 provides the following examples of cash receipts and payments that may be presented net under the criteria set forth in paragraph 22( b): a. principal amounts relating to credit card customers; b. the purchase and sale of investments; and c. other short-term borrowings, for example, those which have a maturity period of three months or less. Accordingly, under IFRSs, an entity’s cash inflows and outflows associated with a revolving line of credit may potentially be presented on a net basis within the financing activities section of the statement of cash flows, provided the aforementioned criteria are met. Therefore, the conclusions under IFRSs for each scenario in this case would be consistent with that reached under U.S. GAAP.

Free Essays on Analysis Grapes of Wrath

Author: John Steinbeck, Robert Demott (Introduction). Penguin USA; New York. Reissued Edition (Oct. 1992). 619 Pages. The Grapes of Wrath is a novel by John Steinbeck that exposes the desperate conditions under which the migratory farming families of America during the 1930's lived, through a personal approach and heavy symbolism. The novel tells of one family's migration west to California through the great economic depression of the 1930's. The bank took possession of their land because the owners could not pay off their loan. The novel shows how the Joad family deals with moving to California, and how they survive the cruelty of the landowners that took advantage of them, their poverty, and willingness to work. The Grapes of Wrath combines Steinbeck’s adoration of the land, his passionate hatred for corruption; resulting from materialism (money), and his abiding faith in the common people to overcome the hostile environment. As it opens with a retaining picture of nature on rampage, the novel shows the men and women that are unbroken by nature. The theme is that of a man verses a hostile environment. His body may be destroyed, but his spirit is not broken. The method used to develop the theme of the novel is through the use of symbolism. There are several uses of symbols in the novel from the turtle at the beginning to the rain at the end. As each symbol is presented, examples of the good and the bad things that exist within the novel are shown. The opening chapter paints a vivid picture of the situation facing the drought-stricken farmers of Oklahoma. Dust is described as covering everything, smothering the life out of anything that wants to grow. The dust is symbolic of the erosion of the lives of the people. The dust is synonymous with "deadness", as Steinbeck puts it.. The land is a ruined way of life (farming), people ... Free Essays on Analysis Grapes of Wrath Free Essays on Analysis Grapes of Wrath Author: John Steinbeck, Robert Demott (Introduction). Penguin USA; New York. Reissued Edition (Oct. 1992). 619 Pages. The Grapes of Wrath is a novel by John Steinbeck that exposes the desperate conditions under which the migratory farming families of America during the 1930's lived, through a personal approach and heavy symbolism. The novel tells of one family's migration west to California through the great economic depression of the 1930's. The bank took possession of their land because the owners could not pay off their loan. The novel shows how the Joad family deals with moving to California, and how they survive the cruelty of the landowners that took advantage of them, their poverty, and willingness to work. The Grapes of Wrath combines Steinbeck’s adoration of the land, his passionate hatred for corruption; resulting from materialism (money), and his abiding faith in the common people to overcome the hostile environment. As it opens with a retaining picture of nature on rampage, the novel shows the men and women that are unbroken by nature. The theme is that of a man verses a hostile environment. His body may be destroyed, but his spirit is not broken. The method used to develop the theme of the novel is through the use of symbolism. There are several uses of symbols in the novel from the turtle at the beginning to the rain at the end. As each symbol is presented, examples of the good and the bad things that exist within the novel are shown. The opening chapter paints a vivid picture of the situation facing the drought-stricken farmers of Oklahoma. Dust is described as covering everything, smothering the life out of anything that wants to grow. The dust is symbolic of the erosion of the lives of the people. The dust is synonymous with "deadness", as Steinbeck puts it.. The land is a ruined way of life (farming), people ...

Climatic hazards prediction and prevention essays

Climatic hazards prediction and prevention essays Hazard prediction and prevention is the key to lifting the threat off climatic hazards. Discuss this statement with reference to case studies. Climatic hazards are a result of cyclonic activity. A tropical cyclone is a system of intense low pressure known locally as hurricanes, typhoons and cyclones. They develop: Between latitudes 5 degrees and 20 degrees north or south of the equator. This knowledge helps the areas at risk prepare for the possibility of a tropical cyclone. A hurricane is a tropical cyclone, which generally forms in the Atlantic and is accompanied by thunderstorms and a counterclockwise circulation of winds. Hurricanes are strong winds that exert a pressure of at least 70kg/m . The wind speed causes both pressure and suction forces. Pressure increases with wind speed. This pressure is worsened by wind gustiness, which can cause fatigue in building materials that would withstand steady stress. Diagram of a hurricane/ tropical cyclone. Storm surges which can increase the mean water level 15ft or more. Inland flooding responsible for half the deaths associated with tropical cyclones. High winds Hurricane force winds can destroy poorly constructed buildings and mobile homes. Wind direction can affect damage rates. Wind blown debris adds to the destructive potential of the wind. Flying debris can cause deaths and damage. Strong winds also spread fires that start from induced damage and destruction. Longer periods of wind stress are more likely to cause failure of structures. Tornadoes columns of rapidly rotating air touching the ground, add to the hurricanes destructive power. Some examples regarding rainfall damage and fatalities follow. Hurricane Camille (1969), which made landfall in Mississippi, 30 inches of rain fell in 6 hours in the Blue Ridge Mountains, triggering flash floods and mudslides th...

Finding Book Reviews

Finding Book Reviews Wherever you find authors collected, the topic will come up: Where do you get your book reviews? Word-of-mouth is considered the best tool to spread the word and make sales for your book; however, book reviews count for a lot, too. When you consider that Amazon considers review activity when selecting books for their promotional specials, you realize that word-of-mouth might not necessarily reach Jeff Bezos ears, so you beat the bushes for reviews. Authors have two main questions when it comes to book reviews: 1) Where do you find the reviewers? 2) How do you get books to those reviewers once you find them? Reviewers can come from anywhere. The well-known reviews from Kirkus, Publishers Weekly, and   the like handle mainly traditional books. Often there are costs to achieving these reviews in terms of payment, membership, or subscription. Indies have an uphill battle as do the smaller of the small presses. And you already know that competition is fierce, so assuming you can get some of these bigger sites to accept your book, the wait might be for months. Consider these reviewers: 1) The Indie View theindieview.com/ 2) Omnimystery mysteriousreviews.com/mysterious-reviews.html 3) NPR Books npr.org/books/ 4) Net Galley https://www.netgalley.com/ 5) eBook Crossroads ebookcrossroads.com/book-reviewers.html 6) RT rtbookreviews.com/ 7) Goodreads goodreads.com 8) Midwest Book Reviewers midwestbookreview.com 9) List of other reviewers on MBR midwestbookreview.com/links/othr_rev.htm 10) Book Review http://bookreview.com/$spindb.query.bottom.booknew 11) Publishers Weekly publishersweekly.com/ Review copies are a hidden cost of publishing, whether traditional or indie. Ive probably given away between 250 to 300 books in my efforts to seek reviews. Except for 50 ARCS my publisher gave me, I paid an authors discount for those books. Thats creeping into the thousands of dollars. I keep anywhere from 20 to 100 of each title on stand Lessons Ive learned about acquiring reviews? 1) Not everybody who offers to review the book will follow through. It stings, I know. And it can be anyone a tenured professor from UNC, a childhood friend, your librarian, trusted peers, parents, amazing fans who profess to idolize but whom you never hear from again. Thats the business. You cannot make it personal. The best you can do is not let them review again. 2) People love the book or having met you, but their life is not you and your book. Their life takes them elsewhere, and reviews arent high on their list of things to do. . . unless thats specifically what they do. 3) The cheaper the cost of the book, the less professional the reviews. Not a 100 percent maxim, but pretty close. There are readers out there who troll for free and 99-cent books, and they have no qualms about throwing nasty up on Amazon or Goodreads. 4) Many book reviews sites and professional reviewers ask for your book, but that doesnt guarantee you will land a review. They take reviewers seriously, and often the better books consume their time. Remember, competition is fierce. Sometimes you dont make the cut. 5) People are more likely to review a print book than an ebook. Your ebook is hidden amongst hundreds on a Kindle or Nook. Out of sight, out of mind. A print book has to sit someplace, chances are more visibly, giving your striking cover the opportunity to beckon the reader and remind them to read and review. And to a reviewer, a print book sometimes represents a more serious commitment from the author. Mailing a book is often a $10+ commitment. Absolutely nothing is absolute in the publishing business. So when prepping for your book release, build the cost of review copies into your budget and know that you wont get 100 percent return on your investment. And continue to hope that a few reviews become serious nuggets for your website, press releases, and maybe your cover.

System Map of a Garden Essay Example | Topics and Well Written Essays - 3000 words

System Map of a Garden - Essay Example This paper highlights a system map of a farm garden. The system is comprised of various sub systems and sub-sub systems based both on the consumer’s perspective and the farm garden’s operations manager. The sub systems for the garden include restraints, water, vegetation and water. The subsystems have elements that are important in the productivity of the outputs of the garden. Before production takes place, various inputs have to be used including animals, plants, expertise and chemicals. All these have to be supplied by different suppliers. The garden performs as a consumer as well as a producer of products such as animals (rabbits, dogs and cats), honey, vegetables and fruits among many other products. The supply network involves a lot of suppliers including organizations and individuals. The supply chain of the garden could be improved if the garden adopts an information system that monitors the flow of products within the garden the system could reports any issues in terms of scarcity and glut. In case of any purchases, the system should record each supplier with the product supplied, its quantity and date. Lastly, in case of any payments made, the system should also note down. A control system that establishes quality of products produced by the garden should also be put in place with respect to the information technology. A system diagram is a diagram that illustrates the various elements of a given system that is involved in productivity of a given organization.... In the structures sub system, the sub-sub systems include the compost bin, pergola, glasshouse and the seating. The consumer views the garden as a place that one could obtain vegetables or fish for consumption as well as perceiving the place as fit for relaxation. The external environment for the garden is the farm compound that is found within a serene environment while the internal environment is the one comprised of the system, subsystems and sub-sub systems as described earlier. 2.0 The Farm Garden System from an Operations Manager Perspective The farm manager is the person in charge of the farm and therefore oversees the activities and running of the farm. All activities mentioned in the garden system above are under the supervision of the farm manager. There is no farm that is independent and similarly, the farm garden is not independent as it makes products that are sold outside the farm while it uses products that are also consumed within the garden. Based on this perspective , a garden system could be drawn with the farm operations manager’s perspective taking into consideration the suppliers of the farm. The farm operations manager perceives the farm garden as a system that supports wildlife. Based on this system, the farm could act as a consumer as well as a supplier of vital components. Therefore, the major components of the system are suppliers, consumers and the producers. The farm on which the garden is situated performs two roles that are consumption of products and services offered by external suppliers and acting as a producer. The farm garden in the eye of the farm gardener is a system that supports wildlife. In such a system, the garden has wildlife elements on it that include wildlife in the sub system of

Management Accounting for Business Decisions Essay

Management Accounting for Business Decisions - Essay Example In the case of CoolSchool and Scrubs, differences in operations present the greatest challenges to the whole merger. The new company resulting from the merger will have new dynamics and set of accounting challenges which must be addressed in order to ensure success (Bierman 2010). CoolSchool supplies school uniforms at the beginning of the school year and the number of uniforms is based on the previous year’s enrollment. It is important to note that despite the merger, there will still be an important need to ensure that uniforms are supplied to the schools every year and on time. In addition, it is difficult for schools to provide the exact number of uniforms they shall need. In this respect, it becomes necessary for the company to continue its present production method which uses estimates from the previous year. However, this can be further improved to enhance accuracy. Since CoolSchool has supplied uniforms to schools for a number of years, it has records on the supply for every year. By using the record, the new merged company can extrapolate and estimate the enrolment rate in the coming year. Production of uniforms will then be based on the extrapolated figure which will be fairly accurate than using the enrolment for the previous years (Brush 20 08). Regarding hospital uniforms, the new company will easily predict the number based on the staff numbers previously used by Scrubs. Considering the accurate production in this regard, it is important that the new company produces a large amount of uniforms for 8 months. Producing large numbers of uniforms on a single occasion helps the company to enjoy the economies of scale associated with large scale production. In addition, hospitals will always require new uniforms and the company should not therefore worry about any excess inventory (Gleich 2010). Producing a large amount of hospital uniforms at one time will help the company in creating

Advantages and Disadvantages of Wireless Networking Essay

Advantages and Disadvantages of Wireless Networking - Essay Example It uses technologies such as the Bluetooth as well as other unguided media such as satellite, radio and microwave transmissions among others (Tanenbaum, 2004). This essay is a critical evaluation of wireless networking, discussing both the advantages and disadvantages of this form of data information transmission. Developments in the Information technology sector have greatly enhanced the modes of doing business especially in time management and the timely delivery of results. For example, most of the companies and institutions have allowed their employees to telecommute. Telecommuting is the process through which an employee is allowed to work from his personal computer at any location be it home, vehicle etc without necessarily having to report to the office, where the company’s computers are located (Kurose, 2002). By doing so, assignments given to the employees can be completed during their own free time instead of having them work overtime thereby denying them the pleasure to be with their families, who require their presence at home as early as possible. After completing the assignments, an employee, having been allowed to access the company’s databases, can send them directly from his remote computer so that once the offices are opened, the information can be put into use without any delay. However, this may be difficult or impossible without the wireless connectivity, which facilitates remote transmission of data from one computer to the other (Smith, 2003). There is also the technology of video conferencing and VOIP, which facilitates meetings for example by the board of directors who do not have to meet physically thereby minimizing the cost of travelling or accommodation. However, this mode of communication can incorporate both wireless and wire networks. This is from the perspective that the board members may be connected to the internet by wire or wireless networks but for them to communicate