Managerial Accounting And Shareholders Accounting Essay

Managerial Accounting And Shareholders Accounting Essay 1. What obligations did the financial managers have to their shareholders to do whatever is possible to avoid major financial losses associated with these products? According to Ask (2002), all major business institutions nowadays are being forced to continuously upgrade their financial status, technologies, innovate their products and services that they offer as well as extend their customer reach to avoid major financial losses associated with problems about their products particularly in developing countries, and utilize resources through financial strategies. Apparently, the main effect of the situation to the company is that it is forcing all types of costing systems, from small to large scale causes, to amend their current financial strategies and processes, and to restructure their production and processes. Financial manager of Dalkon Shield must set some necessary changes to effectively and efficiently respond to the continuously evolving needs of the company. Financial managers make sure that shareholders get their investments fully. It is also their role to make sure that shareholders are receiving their entitled maximum returns for their investment. To avoid major financial losses associated with these products, financial managers are facing with the task of engaging in different activities that brings value to the shareholders and the company. Financial managers can implement different strategic plans to inform providers and top management for the development of strategies and implementations of plans. Narrowing the companys strategic partners through engagement in narrowly defined financial areas is also helpful for the financial mangers (Chua, 2006). As implementers of strategies, the role of financial managers also consists of shareholder value maximization. Financial managers can increase and create value from the financing, budgeting, and networking activities such as buying assets which create more cash than they cost or they can sell stocks and bonds and other instruments financially which all generate more finances than their costs. When the financial manager will try to a healthy balance between the shareholder and the company needs, they also need to follow ethical standards by ensuring that all statements and their financial transaction are true and correct (Chua, 2006). In this situation, the company has experienced on maximizing their business by smoothly ensuring that all services are working and provide the expertise for the generation of financial System. This is an important in the field of financial management for the company and financial managers should developed basic information and concepts regarding the employed effective strategies to avoid major financial losses associated with these products. The objective of these actions is to identify and present the most important features of product and planning to sell products in a well established amount. These include product analysis, competitor analysis and marketing operations that focus on channel distribution, costing objectives, market analysis, customer satisfaction and a great tool in order to cope with the challenges of product placement. Consumer and environmental analysis are important area made by a continuous effort to make connections and form relationships with finances, custom ers, and finance and distribution channels designed financing strategies. Business network of the company can help the financial managers to contribute to effective supply management that support and investigate the influence of the situation on financial management processes (Ask, 2002). In a perspective of this company, strategies used by the financial manager must suggest that the financial losses be prepared to respond appropriately to random costing agreement with the shareholders. If long-run performance is not greatly impacted by shareholders and if it is caused by random impacts, then firms must monitor these shocks and transform them into opportunities. Importantly, these impacts cannot be readily predicted. Thus the firms must have an agile mechanism scan in conjunction with a flexible marketing organization. Before any of these implications are strongly adopted much more marketing strategy refinement is necessary. The financial strategies employed by financial managers are effective tools that may be used by the marketing manager to aid in more effective planning and strategy development of product and business. This is an important factor that provides framework for more specific mix strategies and tactics in the products or services, distribution, promoti on, and pricing areas (Van Horne Wachowicz, 2005). Another factor to consider is the strategy which is effective tools that may be used by the firm to aid in more effective strategy and planning development. This is an important factor that provides framework for more specific financial mix tactics and strategies. Throughout the years many international business organizations has invested in propagating their marketing strategies as well as the flow of investments. The financial manger must have been investing on effective services and production to aid in its goal. Strategic financing process also affects the decision making as it affects the capital opportunities and company capabilities in developing a total return of investments to their shareholders (Van Horne Wachowicz, 2005). 2. Was the dumping in this case ethical? Those involved in the dumping might have argued that the people receiving the pajamas would not have otherwise had access to such clothing and were notified of the health and safety hazards. Does this affect your feelings about the case? What do you think about the exportation of the Dalkon Shield? Can it be justified because the rate of dying during childbirth in Third World countries is extremely high, and, as such, any effective birth control device is better than none? International laws presented that a firm is dumping if its foreign price is either below its marginal cost or below domestic price. In this case, ethical consideration must be consider by the company since the firm often claim that a low-cost is engaged in a long term strategies in harming domestic consumers and destroying the domestic industry (Viner, 1991). It was also a most unethical way and a clear indication of how money always eclipses the significant issue in this case. Whatever causes that these children would have access to fire-retardant pajamas, they would also not have had opportunity to have kidney cancer had they not been exposed unduly to the chemical toxic for their health. The same is true Dalkon Shield of exportation; many serious and worst physiological problems associated with utilizing this product do not have advantages or benefits. A complete fundamental tenets breakdown in social responsibility will aid such blatantly unethical global practices (Ramadan, 2007). In exportation of the Dalkon Shield, planning strategies in the context social responsibility and safety hazard is important. Exportation management fails because of factors including the current environment, feasible methods and the security system. The planning and resources must be value information. In some areas, failure of information dissemination happens automatically especially when there is a problem with the product itself or the safety and the integration of this information to a certain period. Another dimension of challenge in this kind of market environment is the complex and evolving regulations which this institution conducts business. In contrast, there are handfuls of effective strategies for the exportation of the Dalkon Shield that may help the firm implement strategy from a global perspective. Foremost, the planning must concern with the Dalkon Shield organizational governance, with decisions making capacities, and the processes for making sure that the export d ecisions made are implemented properly. There are several factors for export trends including the market mass liberalization, technological impact, and the ever changing distribution and communication and method worldwide. The safeties in the markets are increasingly becoming more important to public, multinational companies, and this phenomenon directed to philosophy and organizational shift of the export, research and marketing companies. The advantage of this approach to research buying include better coordination and control of the research in many economies, research findings comparability, and better view and understanding of transnational basis in terms of the functions (Viner, 1991). The rate of dying during childbirth in Third World countries is extremely high, and the draw back of focusing too much on material success is the tendency to neglect ethical issues and may tolerate corruption. These firms must be committed in strengthening public confidence and understanding in clinical research and biotechnological expertise in all aspects of the clinical research. Regulations on effective birth control device are better than none because all information and activities of related to this issue must be regulated through information submitted to authority. Moreover, industry related to biotech, pharmaceutical and medical device companies, as well as their regulations and legislations which involves academic organizations, peer associations, patient groups, and the public must assures the safety and ethical considerations in clinical trials through collaboration and working with the public and their stakeholders globally to explore different possibilities and paradigms for contraceptive research and development. The product of the company must promote efficient and better clinical trial process especially in developing new drugs biotechnology while demonstrating the strategic values of clinical outsourcing and reiterating the importance of public contributions as partners in the new treatments and new birth control contribution (Atkinso, 2004). In this case, different laws enforces by the government and other related agencies includes reports which identifies the approved drug products approved on the basis of effectiveness and safety of their products under the Drug, Federal Food, and Cosmetic Act. In terms of controlling contraceptives and other related products, the company requires any manufacturer to dispense by prescription only with exemptions in emergency cases and is closely regulated by other sub laws. These drugs must have a warning on the label when given out to the client. The manufacturer must comply with approved good manufacturing practices set by the agency. It must also have a uses section that presents the uses of the drug under appropriate testing so the client or patient is aware of the definite usage or application. The firm must enforces its regulations through various methods such as investigations, punishments, licenses to improve these processes; and must closely monitor the companys processes in r esponse to testing of the product for safety and efficiency and to adequately label the product to avoid violations of the law (Fishbein, 2005). Q4. Compare and contrast job order and process costing. Support your answer with examples relevant academic references. The job order costing system is used for the estimation of production cost for various jobs included in specific orders of the customer. Within the organizations treating every single job as a single unit output, or when production of different products within a specific time, this costing system type is most important. In this regard, it appears that firms in developing countries need to pay some attention to new techniques, so they can help their society and their country to be able to compete in the international market by conducting studies on these new techniques, and show its advantages and disadvantages. The company should also employ job order and process costing strategy for product development on fact finding, analysis, generation of technical and management plan goals (Atkinso, 2004). Labor hours, materials, and machine hours will be different from a specific product to another and one order of the customer to the next, and may be different further in the demand that is placed inherently on overhead manufacturing. One example of a specific job or customer order is customized production that might need greater resources for support than general activity of production. If a firm specializes for the manufacturings were to produce a specific product patented and designed by another firm, it may need some re-engineering process; materials utilized not used in overall production, or another factor for change such as a different description or product logo. In this case, management would need to be sure that the specific customer order equates all relative costs; otherwise information for product cost will not be correct. In the circumstances where the company is producing different product type within a specific period of time, job order costing system employment would also be applicable as management would require in recognizing the overall actual costs for each product. Service companies may not get benefit as much from job order and process costing as compared to other industries because their costing can be hard to assign as they may not have a visible relationship of cause and effect (Kaplan, 2007). Nowadays, traditional cost systems became unpopular among companies, since these cost systems were designed long time ago for different circumstances. For example, companies used to produce a small number of products and indirect cost (overhead) was quite small, compared to the total cost at that time overhead did not cause any problems to the managers. On the other hand, in the 1980s many companies started produce different variety of products and indirect cost started to play an important role. Therefore, the traditional cost systems are no longer desirable by managers. Managers started to think to change these systems after realizing that these systems are not reliable for managerial purposes anymore. Recently, many companies are facing a real competition in the world market, due the fact that some companies produce high quality products at low costs. For that reason managers attempts to adopt a cost system which can give them accurate information and the exact cost for each produ ct, so managers can take right decisions at the right time (Laughlin, 1995).

Amazing Grace Review

In the 18th century millions of men, women and children were taken from their homes in Africa and sold into slavery. Few survived the slave ships, and even fewer lived through their slave labors. Some people thought the slave trade was wrong, but to find someone who had the courage to stand-up to make a stop was hard. â€Å"Amazing Grace†, is a movie based on a true story. Written by Steven Knight and directed by Michael Apted, it is about William Wilberforce and his quest to abolish the slave trade in the United Kingdom, and his battle against the British parliament of the 18th century. The film narrates William Wilberforce’s journey through time with many flashbacks. William, the son of a rich merchant, studied at Cambridge; this is where he met his close friend and future priminister, William Pitt. Pitt encourages Wilberforce to outlaw the slavetrade and fight against parliament. With his support and advice on how to conquer the government, they get over 3,000 signatures wanting to abolish the slave trade. Without his connections it would have taken Wilberforce much longer to achieve these goals and to see progress. Wilberforce committed many years, so many that he neglects his health, and becomes very ill. Wilberforce then meets Barbara Spooner, who pushes him to keep on going and fight for what he believes and gets him back on his feet. â€Å"Amazing Grace† is a portrait of faith and persistence. These themes are very evident as Wilberforce’s devotion to abolish the slave trade is number one priority- even over his own health. Wilberforce and Pitt also must have faith and believe that they will win the battle. This also leads into another theme, fighting for what you believe, and the theme of racism The theme that occurs continuously and ties all the above themes together is monstrosity. This theme is also shown throughout the novels of To Kill a Mockingbird (Harper Lee) and Frankenstein (Mary Shelley), when racist acts are made in To Kill A Mockingbird, and the real monster is revealed today’s society in Frankenstein. Throughout the movie, William Wilberforce (Ioan Gruffudd) shows the characteristics of a hero, and people around the world look up at him for his effort. Since the beginning of the movie, William Wilberforce shows signs of sympathy and care. When passing by a suffering horse, he stops and makes sure the abusing stops. Small details like this already give the viewer an instant idea of what sort character he is. As well as the amazing in-role acting the sound and lighting are the finishing touch. The lighting increases many aspects of the movie. When Wilberforce had flashbacks and was thinking of the slavery and the slave ships, the lighting became darker and the music also adjusted. To the viewer it isn’t that obvious until you specifically look for lighting and other technical edits. But without these things the movie the impact the movie gives wouldn’t be as great. As well as lighting, the camera angles where also very specific. There would always be close up shots when difference of facial expressions were shown, this emphases more emotion in the movie and also attracting the viewer. Amazing Grace, is a extremely intense and an instructive movie, as well as interesting and exciting. The viewers really feel pulled into the story and really get motivated to stand up for what they believe. William Wilberforce really was a role model sending out positive messages and leaving the audience with a winning smile on their face.

Disorders of the Blood

In the human body there are two important types of blood cells, these are red blood cells and the white blood cells. Red blood cells operate in effort of carrying oxygen to the lungs. White blood cells serve to defend tissues in the body that have the capability of setting up infections in the body. There are many different blood disorders that people have. Blood disorders may be the cause of serious illnesses and some deaths. Disorders may begin to affect an individual as early as in their childhood. Anemia, Sickle cell, and Hereditary hemorrhagic telangiectasia are the disorders that I will be explaining and discussing in the below scenarios. Lily, a 4-year-old Caucasian female, has she been complaining of being tired all the time. She is pale and is a picky eater. Her mother is a single mom with a small budget to feed a large family. Lily eats only pasta, breads, and hot dogs, and she drinks only artificial fruit punch. Lily has iron deficiency anemia. Anemia is when the blood lacks the proper amount of healthy red blood cells. Red blood cells are the main transporters of oxygen to organs. Some symptoms of anemia are fatigue because organs do not get enough oxygen and this is when fatigue happens. Certain forms of anemia are hereditary and infants can be affected from time of birth. Girls who do not have the proper amount of iron in their diet may become iron deficient due to inadequate dietary iron, inadequate growth requirements, and the start of menstruation. The most common symptoms of Iron Deficiency Anemia include eating or craving ice, swelling of the tongue, and very dry lips. The mother can not afford many groceries. This is a critical part in bad eating habits. Lily’s mom should try to buy her some food and drinks that has a lot of vitamin C. Davon is a 5-year-old African American male who has just moved to Chicago, and he is visiting his new pediatrician for a kindergarten physical. His mother tells the nurse that she carries the sickle cell trait and wants Davon screened for it. Davon may have the sickle cell trait. Sickle cell is a disease that changes normal blood cells to round red blood cells. Red blood cells pass through blood vessels easily. A person that has sickle cell means that it very hard for red blood cells to pass through the blood vessels, and that is because it is in a different form. The oxygen is stopped. This can cause a lot of pain for the person. Sickle cell causes a lifelong battle against many health problems. This can cause infections and erious illnesses, even a stroke. Symptoms for someone who has Sickle cell are often painful and are caused in the event of the sickled cells getting stuck in the blood vessels. When this happens then the blood flow is prevented from carrying out the normal function. If the blood flow is blocked it causes pain in the feet, hands, back, chest, or belly. The pain may last for a few hours or even days. People who have Sickle cell usually have anemia. People that have Sickle cell anemia, have an abnormal skin color.

Introduction to the Coase Theorem

The Coase Theorem, developed by economist Ronald Coase, states that when conflicting property rights occur, bargaining between the parties involved will lead to an efficient outcome regardless of which party is ultimately awarded the property rights, as long as the transaction costs associated with bargaining are negligible. Specifically, the Coase Theorem states that if trade in an externality is possible and there are no transaction costs, bargaining will lead to an efficient outcome regardless of the initial allocation of property rights.† What Is the Coase Theorem? The Coase Theorem is most easily explained via an example. Its clear that noise pollution fits the typical definition of an externality, or a consequence of an economic activity on an unrelated third party, because noise pollution from, say, a factory, a loud garage band, or a wind turbine potentially imposes a cost on people who are neither consumers nor producers of these items. (Technically, this externality comes about because its not well defined who owns the noise spectrum.) In the case of the wind turbine, for example, its efficient to let the turbine make noise if the value of operating the turbine is greater than the noise cost imposed on those who live near it. On the other hand, its efficient to shut the turbine down if the value of operating the turbine is less than the noise cost imposed on nearby residents. Since the potential rights and desires of the turbine company and the households are clearly in conflict, its possible that the two parties will end up in court to figure out whose rights take precedence. In this instance, the court could decide that the turbine company has the right to operate at the expense of the nearby households or that the households have the right to quiet at the expense of the turbine companys operations. Coases main thesis is that the decision reached regarding the assignment of property rights has no bearing on whether the turbines continue to operate in the area as long as the parties can bargain without cost. How Does It Work in Practice? Why is this? Lets say that its efficient to have the turbines operating in the area, i.e., that the value to the company of operating the turbines is greater than the cost imposed on the households. Put another way, this means that the turbine company would be willing to pay the households more to stay in business than the households would be willing to pay the turbine company to shut down. If the court decides that the households have a right to quiet, the turbine company will probably compensate the households in exchange for letting the turbines operate. Because the turbines are worth more to the company than quiet is worth to the households, some offer will be acceptable to both parties, and the turbines will keep running. On the other hand, if the court decides that the company has the right to operate the turbines, the turbines will stay in business and no money will change hands. This is because the households arent willing to pay enough to convince the turbine company to cease operation. In summary, the assignment of rights in this example didnt affect the outcome once the opportunity to bargain was introduced, but the property rights did affect the transfers of money between the two parties. This scenario is realistic: In 2010, for example, Caithness Energy offered households near its turbines in Eastern Oregon $5,000 each not to complain about the noise that the turbines generated. Its most likely that in this scenario, the value of operating the turbines was greater to the company than the value of quiet was to the households, and it was probably easier for the company to proactively offer compensation to the households than it would have been to get the courts involved. Why Would the Coase Theorem Not Work? In practice, there are a number of reasons why the Coase Theorem may not hold (or apply, depending on context).  In some cases, the endowment effect could cause the valuations elicited in negotiation to depend on the initial allocation of property rights.  In other cases, negotiation may not be feasible either due to the number of parties involved or social conventions.