Generally Accepted Accounting Principles Essay Example for Free

Generally Accepted Accounting Principles Essay The mutual set of accounting criteria used to develop medical centers financial statements are known as generally accepted accounting principles (GAAP). GAAP are a mixture of respected criteria created by Securities and Exchange Commission (SEC) and accountants. The SEC has authority granted by The Securities Act of 1933 and the Securities Exchange Act of 1934, to determine reporting and disclosure requirements. Oversight is the general functions of the SEC, granting the Governmental Accounting Standards Board (GASB) to determine the standards. Generally accepted accounting practices are required for accountant to follow and medical centers to use so medical centers and provide investors with a minimal level of dependability for financing determination. GAAP provides detailed information concerning the medical center fiscal returns, detailed balance and outstanding debt. GAAP guidelines are expected to be upheld by medical centers when giving an account of their economic figures through financial declarations (Finkler Ward, 2006). Going concern principle. Financial statements must be prepared with the belief that the medical center will continue operation indefinitely. Disclosure of pending cease of patient care delivery must be noted in financial statement (Finkler Ward, 2006) Principle of conservatism. Certified public accountants have an obligation to document business purchases that necessitate estimation based on their sound judgment. The total medical equipment productivity time frame and outstanding accounts receivable are illustrations for the use of estimation. In financial data reporting, auditors adhere to conservatism rules, which demands lower appraisal be selected when one or more appraisals are taking in consideration. For example, when the restoration department has reported a five -percent rate return for new MRI machine for the previous three fiscal years, but the medical centers production department claims the reported profit value is inconsistent and there is an expectation that fewer than three percent of the MRI machines will need repair service during the following year. Since there is a discrepancy, the production department will need to presents undeniable proof to authentication the appraisal, the medical center auditor has a duty to adhere to the conservatism principles and prepare for the ive-percent rate return. Losses and costs are documented when they are credible and equitably estimated. Profits are documented when achieved (Finkler Ward, 2006). Matching principle. The medical center expenditures for providing safe patient care should be documented with the corresponding fiscal year in which the income was produced. Documented in the same fiscal year as the income they help to generate. An illustration of this particular cost is the cost of products sold in the medical center, salaries paid to staff. It is consider when patients are admitted to the medical center and the supplies used to provide safe quality care. Revenue is recognized when reimbursed by Medicaid and Medicare (Finkler Ward, 2006). Cost principle. The dollar amount deducted from the budget to purchase land, medical equipment, and supplies. Assets are documented at price purchased, which is equivalent to the price paid to gain acquisition. When a medical centers assets such as property or office structures increase in worth each fiscal year, reappraisal in not required for financial reporting purposes (Finkler Ward, 2006). Objective evidence. For financial reports to be valuable, they must contain information that is pertinent, trustworthy, and organized in a consistent manner. The cost information provided is evidence-based. This means internal and external users could all agree when the medical center reports they purchased telehealth technology for 1. 5 million and they can produce evidence in a form of bank statements or detailed receipt from vendor proving payment, this is reliable information that is verifiable and objective (Finkler Ward, 2006). Materiality principle. Obligates the preparer of the financial report to correct significant errors that otherwise would cause an individual to make a different decision if provided with correct information. When time approaches to approve the budget for additional telehealth equipment, medical center executive may not approve, if they were aware that the program is not beneficial and several telehealth monitors were sitting in storage areas with the local facilities. Insignificant errors may be ignored (Finkler Ward, 2006). Consistency. Medical facilities should use the same accounting methods each fiscal year. Consistency make available significant associations to be achieved among separate fiscal years and among the fiscal reports of separate establishments that employ the similar accounting practices. If the medical center changes their accounting method, the accountant must disclose the change in the financial report (Finkler Ward, 2006). Full disclosure principle. Financial statements usually make available data about the medical center previous performance. However, imminent litigations, unsettled debt, or additional circumstances that have the potential to produce considerable negative influences on the medical centers economic status are also required to be disclosed in financial statements. (Finkler Ward, 2006). In conclusion when medical centers are in compliance with GAAP this will help preserve creditability with creditors and investors because it restore confidence with external customers that the medical center financial reports precisely depict its financial standing.

To What Extent Does Mildred Taylor Portray T.J. as a Victim of the Times? :: English Literature

To What Extent Does Mildred Taylor Portray T.J. as a Victim of the Times? The novel 'Roll of Thunder' is based around racism and discrimination, during the 1930's. Mildred Taylor has chosen to set her novel in a time where black people were discriminated against. The context in which the story is set is a conscious choice of the writer to emphasise the extent of racism. T.J. is used by Mildred Taylor to represent the injustices the Black community were subjected to in these times. Although T.J. is not portrayed as a victim throughout the novel, he is certainly seen as a victim during the concluding chapters of the book. The narrative is by a young girl of ten years, Cassie. Cassie is a very opinionated, strong willed character who tends to judge people at face value, without taking other factors into consideration. This could be seen as a hindrance in such a novel, a novel that is being used to exploit racism and could benefit from a more open-viewed narrator. In this book however, the character is purposefully made to be single-minded by Mildred Taylor because it encourages the reader to think in more depth about the story. The author uses this narrow perspective of T.J. to encourage the reader to realise that he is a victim of the times. This realisation is encouraged not through Cassie's opinion but because she cannot see this fact until nearing the end of the story. Cassie's view of T.J. is blunt, 'I didn't like T.J. very much,' and during the beginning of the book the reader is persuaded that T.J. is not a nice person as there is no evidence otherwise. As the book proceeds however, the reader can show more insight into details that Cassie overlooks. This is as the writer intends, it helps to include the reader more in the book and is a similar idea to dramatic irony used on the stage. Mildred Taylor has used Cassie's simplistic views of T.J. to persuade the reader to think more deeply. She has used this simple point of view to show that the effect of racism is not always obvious and as the reader comes to realise that T.J. is a victim, Taylor's central theme is portrayed. To help the reader understand that T.J. is a victim of the times, Mildred Taylor uses other characters to show a more balanced opinion of him. Stacey is often used in this way; he is one of the few characters that show sympathy towards T.J. Stacey demonstrates a certain level of understanding about T.J.'s position and why he is how he is.

Mayella Violet Ewell Essay

Mayella Violet Ewell is Tom Robinson’s 19-and-a-half-year-old accuser and the eldest daughter of Bob Ewell; she has to take care of her siblings (such as Burris Ewell) due to Bob Ewell’s alcoholism. Before the trial, Mayella is noted for growing red geraniums outside her otherwise dirty home. Due to her family’s living situation, Mayella has no opportunity for human contact or love, and she eventually gets so desperate that she attempts to seduce a black man, Tom Robinson. Her father sees this through a window, and in punishment he beats her. Ewell then finds the sheriff, Heck Tate, and tells him that his daughter has been raped and beaten by Tom. At the trial, Atticus proves that it was her father who beat her by pointing out that the bruises are on the right side of her face only. This is important because Tom’s left hand is mangled and useless, while Bob Ewell is left handed. When Atticus Finch asks her if she has any friends, she becomes confused because she does not know what a friend is. During her testimony, she is confused by Atticus’ polite speech and thinks that his use of â€Å"Miss Mayella† is meant to mock her.  By testifying against Tom Robinson, Mayella is trying to destroy the evidence suggesting that she had attempted to seduce him, and to do what her father wants her to do so that he won’t hurt her — to eliminate her own guilt and fear of breaking a ‘rigid and time-honored code’. Mayella is played by Collin Wilcox in the movie.

Assess the Significance of the Role of Individuals in...

History Coursework: Part B Assess the significance of the role of individuals in reducing racial discrimination in the USA throughout the period 1877-1981 Between the periods of 1877-1981 there were many significant figures who contributed towards reducing racial discrimination in the USA. Although without events such as the Montgomery Bus Boycott, WWII or the actions of the NACCP to change attitudes towards African Americans, these individuals would have had little effect. The likes of Booker T Washington and Du Bois set the foundation for civil rights along with the Second World War; however other individuals such as Martin Luther King help to actively progress the movement. Along with this the government and various presidents†¦show more content†¦It helped to change attitudes towards black Americans, as they went to war; they were portrayed to be worthy American citizens which changed many white Americans attitudes towards them. The war also created stepping stones for the likes of Martin Luther King to breach into the civil rights movement, therefore not only did it have an impact on black Americans, it also created some success for many civil rights activists. However the war did nothing to reduce discrimination towards other ethnic minorities, for example Japanese Americans received much racial discrimination due to Japans role in WWII. Although the war was bad for the civil rights of Japanese Americans, Chinese Americans received a better way of life, with more civil rights as America forged a great political relationship with China after the war due to their help during it. Therefore WWII was a great influence on reducing racial discrimination within the USA for only certain minorities, although for the likes of Japanese Americans way of life got worse as they were sent to camps until the war ended due to suspicions. The war was more important than earlier individuals as it had a direct impact on reducing racial discrimination, and further effect in the emergence of fresh civil rights activists who would later have a significant role in the movement. As Assess the Significance of the Role of Individuals in... Assess the significance of the role of individuals in reducing racial discrimination in the period 1877-1981. The post-civil war era of American history could be argued as one with great promise for African Americans. With the North winning the Civil War and Lincoln granting the Emancipation Proclamation in 1863, surely the seeds had been sown for equality for all in America; blacks and whites included? Despite the foundations having been laid for equality, it may not be surprising that only small progress was made when Lincoln- the â€Å"saviour† of Blacks- had little interest in abolishing slavery in the first place; â€Å"if I could save the Union without freeing any slave, I would do it†. However, it cannot be disputed that, whatever his†¦show more content†¦The NAACPs main focal points were: The abolition of segregation; equal voting rights; educational opportunities for black people; the enforcement of the Fourteenth and Fifteenth Amendments. Despite the main focuses of the NAACPs campaigns, it could be argued that the main thing they did for the progress of Black Equality was the uniting of Blacks under one force; by 1918 there were around 43,994 members in the NAACP. This gathering of Blacks under one organisation cannot be ignored, for the first time the African-Americans of America were joining together in order to fight for their freedom. One key event which argues against the idea that individuals were significant in reducing racial discrimination is that of WWI; argued by Sanders- â€Å"The First World War generated jobs and gave blacks soldiers a glimpse of greater equality†. The treatment of Blacks abroad- particularly France- showed the African-Americans that the treatment they were receiving at home was unfair and that they were indeed in a situation which needed to change. It is a hard task indeed to decide whether or Black Consciousness increased due to the work solely of individuals such as Du Bois, organisations like the NAACP or events like WWI. Many would argue that it was not a single one of these factors which led to the increase of Blacks realisation of potential. One argument however is that surely without individuals behind the organisations,Show MoreRelatedAssess the Significance of the Role of Individuals in Reducing Racial Discrimination in the Usa Throughout the Period 1877-1981.1995 Words   |  8 PagesHistory Coursework: Part B Assess the significance of the role of individuals in reducing racial discrimination in the USA throughout the period 1877-1981 Between the periods of 1877-1981 there were many significant figures who contributed towards reducing racial discrimination in the USA. Although without events such as the Montgomery Bus Boycott, WWII or the actions of the NACCP to change attitudes towards African Americans, these individuals would have had little effect. The likes of BookerRead MoreMedicare Policy Analysis447966 Words   |  1792 Pagesfollowing bill; which was referred to the Committee on Energy and Commerce, and in addition to the Committees on Education and Labor, Ways and Means, Oversight and Government Reform, the Budget, Rules, Natural Resources, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To provide affordable, quality health care for all Americans and reduce the growth

V. Purchaser And Buyer Relationships Essay - 896 Words

V. Purchaser and Buyer Relationships in Just In Time Systems A just-in-time system can only exist in an atmosphere where suppliers are reliable and will work to minimize the risk of not having the needed input of production (Federal Reserve Bank of St. Louis, 1995). A just-in-time system puts increased stress on both the supplier and purchaser in the course of its implementation and places the purchaser at the mercy of its key suppliers, meaning the supplier must never be wrong in terms of quantity or quality (Karlsson Norr, 1994). Optimally a supplier themselves will be on or working towards a just-in-time system themselves, but this is not always possible (Fallon Browne, 1988). To allow the supplier to accomplish the massive feat mentioned above there are three required elements that must be present: clear communications, close proximity, and close relationships. For a successful just-in-time system to occur the communications between the supplier and purchaser should be clear and unambiguous (Epps, 1995). Traditional just-in-time philosophy also implies that a supplier should be located geographically close to the purchaser though some studies show this is not required if the parties can find other ways to compensate for the geographic distance (Manna, 2008; Karlsson Norr, 1994; Keller Kazazi, 1993). The relationship between purchaser and supplier in a just-in-time program must be one of respect and trust where the supplier is involved in the process and aShow MoreRelatedPlacido Engine Company Essay791 Words   |  4 Pagescorrosion process that may ultimately scrap parts. The cost incurred for the rework will be passed on to the supplier, along with ne gative quality ratings. A disadvantage for this possible solution would be acquiring short-term relationship with the suppliers or end of relationship due to high costs and high expectations. 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Human and Computers Interaction - 587 Words

Human Computer Interaction we are all familiar with, a trait characteristic of all humankind that emerged in the early 1980s that started embracing computer science and human factors that would interact with computer. There has been study of how the users of computers utilize them to complete tasks in the environment they will finally be used in. Human Computer Interaction is not just designed for one user and then another user comes along to use it. When been created an HCI system it would have to be considering how the users will interact with computer devices. Human Computer Interaction all aspects have been included in the tasks to be completed, in the technology that will be used by the user (e.g. input/output), how they will interact with the system. Therefore, human computer interaction has become increasingly popular and is important to our society. Over one hundred years ago before, the word computer started to appear in our dictionary people didn’t even know what a c omputer is. Now Human Computer Interaction has expanded rapidly and steadily over three decades. Until the late 1970s, the only humans who interacted with computers were information technology professionals and dedicated hobbyists. This changed disruptively with the emergence of personal computing in the later 1970s. Personal computing, including both personal software (productivity applications, such as text editors and spreadsheets, and interactive computer games) and personal computer platformsShow MoreRelatedHuman Computer Interaction1508 Words   |  7 Pagesa significant impact on human life process. What was on the top of the Maslows Hierarchy of Needs is now performing a vital role in each human life. 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Global Marketing Management By IKEA for Expansion in China

Question 1: Critically analyse the macro and micro environment of the market environment in CHINA using appropriate analytical tools Question 2: Develop appropriate marketing objectives and critically analyse supporting corporate and business strategies to support the expansion of the IKEA brand in the CHINA Question 3: Critically analyse the potential Business Model of IKEA and its adaptation for the expansion of the brand in CHINA. In addition, justify the most appropriate application of the marketing tactics that will support the expansion in CHINA Answer: Task 1:Critical analysis of macro and micro environment of market in China through appropriate analytical tools-900 The SWOT (Strength, Weakness, Opportunities and Threats) analysis of IKEA efficiently highlights the micro environment of the company. Details from this analysis are efficient enough to identify the potential factors affecting the business of the company. In order to analyse the macro environment the PESTLE (Political, Economic, Social, Technological, Legal and Environmental) analysis tool as opined by Li and Yang (2014, p. 4742), is an efficient one. It efficiently brings forth the eminent external factors affecting the business of IKEA in China. Porters Five Forces The potent industrial factors affecting the company are efficiently highlighted by conducting the Porters Five Forces Analysis. As stated by (Porter-Steele, 2010, p. 79), the five major forces of this tool identify and give the details of significant factors that influence on the business conduction of a company in the concerned market. The Porters Five Forces analysis of furniture industry of China points out relevant information as follows: The high Bargaining power of customers indicates the availability of adequate number of furniture organisations in Chinese market (Shi and Smith, 2012, p. 82). The low bargaining power of suppliers on the other hand, identifies the high price sensitivity among the customers of China. This factor accounts for the consideration of the prices of IKEA products to be high in the Chinese market while the same price is considered low elsewhere. The need for large amount of capital investment is a major barrier to entry in Chinese market for most organisations. IKEA however, being a well-established company is expected to overcome this barrier easily. At the same time, it restricts the other smaller companies from entering the market thus, reducing the competition intensity to an extent. However, as asserted by (Agnihotri, 2014, p. 207), there are large numbers of furniture businesses operating in the Chinese market at domestic level. Therefore, IKEA is about to face tough competition from t he domestic companies in Chinese furniture retail market. The analysis highlights a failure of the retail giant Home Depot in Chinese market. There also exists a specific market culture. Thus it lowers the threat of new entrants into the furniture retail market of China. However, the tool pinpoints on the high Threat of substitutes in Chinese market. Existence of fake IKEA stores and ease of copying the products of IKEA by other retailers is an eminent threat lingering over IKEA in conducting its business efficiently in the Chinese furniture retail market. The high Incumbent rivalry evident in Chinese market is a major factor and threat for IKEA. The presence of strong players as BQ and Taobao contributes to the increase in rivalry in the market of China. Jiang et al. (2013, p. 209) argued that there are several suppliers in China market who emerge as the direct competitors of IKEA. Task 2: Developing appropriate marketing objectives and critical analysis of business and corporate strategies supporting expansion of IKEA brand in China IKEA can apply techniques and procedures as Hofstede Index, Psychic Distance Model, Perceptual map on positioning, marketing mix and segmentation to analyse market in China. It will direct the company towards the development of appropriate marketing objectives (Luther, 2011, p. 62). Hofstede Index (Refer to Appendix 1) It indicates that there exist a remarkable distinction in culture of China and Sweden, the home country of IKEA with a highlight on the show-off mentality among people of China. The preferred style and need of furniture differs widely among the 2 countries with China consisting larger families than in Sweden. On-line shopping emerges as a viable scope of business in China where mostly people are busy in work. As stated by Bessant (2009, p. 41), the index drives IKEA towards innovative products through depiction of wide acceptance of innovative items in China with the property of accepting changes very fast. However, a deeper focus is required for advertisement and customer attraction in China than in Sweden due to the lesser fun-loving culture of China. Psychic Distance Model (Refer to Appendix 2) This model identifies the marked language distance between the country of Sweden and China. It drives IKEA towards adoption of Chinese main language Mandarin for its business and marketing operations in China. IKEA can also set the store locations near offices as per the Chinese culture. A major focus on maintaining low price products by IKEA is essential in China due to the unstable economic conditions. The rule of paying 25% corporate tax in China raises the business expense of IKEA in China. However, the company is provided with ample investing opportunities by the Chinese government (Jiang et al. 2013, p. 205). Perceptual map on positioning (Refer to Appendix 3) As per the Perceptual maps of IKEA products in terms of quality and price in different countries, the company can efficiently position itself against its rivals in the respective countries of China, US, France, Germany, Austria and UK. The products of IKEA depict standard quality level in all the mentioned countries. Hence, IKEA stands at a better position than its rivals in terms of quality. However, China being a developing country shows the consideration of prices of IKEA products to be high. It leads to the development of conception that IKEA products in China market can be considered of good quality but highly priced. Segmentation IKEA can segment its target market as per the following criteria of Demography, Geography, Psychograph and Socio-graphic: Corporate and business strategies of IKEA As far as the corporate and business strategies of IKEA are concerned, its corporate strategy of offering low price products with functional and well-designed characteristics poses a challenge to the organisation in face of competition in market. It strategy of global outsourcing is effective in enabling it in cost reduction facilitating international expansion. Its corporate strategy is also effective in attaining low-cost labour and less expensive raw materials by providing scope of long-term high-volume business relationship with the country as is found in Vietnam (Hgevold, 2011, p. 395). Its business strategy of open communication facilitated knowledge sharing, streamlining decision-making, mastering new technologies in furniture production and effective advertising methods enabled IKEA to develop unique competitive advantage over other rivals in the industry. Task 3:Critical analysis of potential business model of IKEA and its adaptation for brand expansion in China with most appropriate marketing tactics supporting the expansion According to Hwang et al. (2013, p. 1506), business canvas model is a tool to create and analyse business models. Most of the company can create this model easily. But the main thing that every company has to make sure is that they must analyze it and update the existing model with due course of time. As per the given case study organization IKEA has also a business model of its own. Customer Segments: The target customer of IKEA is basically the families. The age varies from 30 and 35 and about 70% of their customers are women. Customer Relationship: According to Hgevold (2011, p. 384), IKEA does all the necessary activities to maintain a healthy relationship with the customer. This is the reason why they have reduced the price of their products as per the demand of customers. Channels: IKEA mainly does its business through retail outlets. They provide very limited online service (Hellstrm and Nilsson, 2011, p. 640). Value Propositions: IKEA successfully provides quality service within a less price. But in China the pricing strategy of their products are generally high. Key Activities: In China market IKEA needs to expand more and they need to communicate with the customers through various social media sites. Key Resources: IKEA has been very successful on this as they recruited more than 120,000 people around the world for their 315 stores. According to Michael Sayeau (2009, p. 494), last year was one of the most successful year for the company as they have been able to generate a revenue of 28.5 Billions of Euros. Key Partners: IKEA being one of the top most furniture company brands has suppliers from almost different countries. 60% of their merchandise are sourced from Europe, Asia and North America (Hultman et al. 2012, p. 14). Cost Structure: IKEA sources the merchandise from cost effective sources so sourcing is not that costly for the organisation but reducing the price in China has been very costly for the company. Revenue Streams: As it is a furniture company so its main earning areas are from the hotel chains and restaurants. Their cheap rate and excellent product quality has made IKEA a popular household name in all over UK (Hellstrm and Nilsson, 2011, p. 640). Criticism of their business model: The main problem with their business model that sometimes their price leads them to loses. Although the pricing system is one of the major revenue generating components for the company, still they have to make some considerations while operating in countries like China where the pricing system is naturally high. Another point of concern in their model is that, they are not concentrating much on the online media. They have a very limited service in this media, hence they may face some problem in the near future because the trend of online shopping has exploded so much that people hardly goes to a shop now. Online shopping is less time consuming and very effective for those people who dont have time to visit shops personally. Figure 2: Business Model Canvas of IKEA (Source: As created by the learner) Conclusion: This study highlights the essential aspects of global marketing in the context of IKEA organisation in Chinese furniture retail market. Although the company faced challenges regarding price reduction, differential government laws, culture difference, etc IKEA identifies methods to improve its market position. Taobao and BQ the two main competitors of IKEA in Chinese furniture market can be well handled by the company through gaining adequate competitive advantage by adopting the measures as stated in the recommendations. Recommendations: In order to develop and attain an effective marketing operation and expansion in the Chinese market IKEA needs to focus on certain major factors. As per the issues highlighted in the study, the relevant recommendations are provided as follows: Development of online-marketing techniques IKEA with its sole focus on providing quality products at low prices, and market expansion overseas has neglected the adoption of technological features with time. The company lags behind in its online shopping provisions, which is highly advanced in most of the rival companies in Chinese market. The people in China with a busy schedule of work in their daily life show a high preference towards online-shopping. IKEA thus, needs to develop its online shopping infrastructure considerably to improve and enhance their efficiency of business in the Chinese market and attract more clients thus increasing sales and revenue. IKEA can also avail more customers and spread awareness of their products through improving their social networking activities which is quite popular in China. Opening more stores in China As highlighted in the business model section, IKEA has a smaller number of stores in Chinese market. In order to achieve an effective expansion, they need to set up more stores. Focusing on establishment of stores near the office area is a major recommendation for IKEA. As observed from the study, the Chinese people availing the stores mainly driven by need rather than luxury or fun. Therefore, setting the stores near the offices will attract more customers. 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