Analysis Of Gloria Gemma s Gidget s Corner Project

Thus far the project has been tough, yet rewarding. Initially, there was a class decision on what project we wanted to work on, after voting, the Gloria Gemma’s Gidget’s Corner project came out as the victor. After collaborating amongst each other, we came up with how a plan to break down the project. We picked which group we wanted to be a part of and began to work in according to our broken-down project assignments. Although we just breached the amidst of the preliminary stages of this project, there have been several learning outcomes met: rhetorical knowledge, metacognitive knowledge, and genre knowledge. Rhetorical knowledge, or applying persuasive concepts to situations, has been used throughout the entire project. This began†¦show more content†¦Chapter one touches upon reflecting on your work in the sense that it discusses proofreading, which is a type of reflecting. Also, chapter five mentions analyzing documents for information during the research process. This was done throughout the gathering of background information when I had to read the document from the students of last year’s class who initiated this project. Reading that document meant that I had to ignore a lot of information that was not important for what we were looking for and at the same time picking out information that seemed beneficial to the class. As we worked on our document every sentence written had to be reread and considered valuable enough to keep in the document. One last part of the thoughtful practices the group and myself conducted was mentioned in chapter three. This was the plannin g part of the document, we did not simply just start writing out background or introduction information, we shared a document, bulleted our ideas, discussed them amongst each other, and then wrote and rewrote once we felt we made our point clear. Genre knowledge was heavily seen throughout every chapter we have read thus far into class. From setting up this memo and reading about the proper format, formatting the one pager to appeal to the audience, and the future proposal design for the Foundation. This formatting is correlated with the chapter three reading that discusses design principles. This is important because after the

Acc 300 Exam 2 Study Guide Free Essays

Ch18 Revenue Recognition (when it is realized or realizable, when it is earned) Revenue Recognition at point of sale: (1) Sales with Discounts (2) Sales with Right of Return: Three alternative revenue recognition methods, and recognize revenue only if all of six condition (3) Sales with buybacks (4) Bill and Hold Sales: buyer is not yet ready to take delivery but does take title and accept billing. Revenue is reported at the time title passes if (a) the risks of ownership have passed; (b) the buyer makes a fixed commitment of purchase the goods, requests the transaction be on a buy and hold basis, and sets a fixed delivery date; and (c) goods must be segregated, complete, and ready for shipment. FOB shipping-buyer FOB destination-seller Ch7 Cash and Receivable 1 Cash, cash equivalents, restricted cash and Bank overdrafts: (1). We will write a custom essay sample on Acc 300 Exam 2 Study Guide or any similar topic only for you Order Now Cash equivalents are short-term, highly liquid investment. Ex. Treasury bills, commercial paper and money market funds. (2). Restricted Cash Ex. Petty cash, payroll and dividend funds. Amount is not material, not segregate from cash; amount is material, segregate. (3). Bank Overdrafts: when a company writes a check for more than the amount in its cash account. 2 A/R: (1). Trade receivable: A/R, Notes Receivable. (2). Nontrade receivable: Advances to officers and employees and subsidiaries; Deposits paid to cover potential damages or losses; dividends and interest receivable†¦ (3). Recognition of A/R: (a) Trade discount. (b) Cash (sales) discounts. Companies value and report short-term receivable at net realizable value—the net amount they expect to receive in cash. (Determining NRV need both uncollectible receivables and any returns or allowances) Two methods are used in uncollectible accounts: (1) the direct write-off method (Bad debt expense-debit, Accounts Receivable-credit). (2) Allowance method: NRV, three essential features: (a). estimate uncollectible receivable. (b). Debit estimated uncollectible to Bad Debt Expense and credit them to Allowance for Doubtful Accounts. (c). When companies write off a specific account, they debit actual uncollectible to AFDA and credit that amount to A/R. Companies do not close AFDA at the end of fiscal year. Recovery of an Uncollectible Account: It reverses the entry made in writing off the account. It journalizes the collection in the usual manner. Percentage of sales: sales—Bad Debt Expense; Percentage of Receivable: A/R—AFDA, Ch8 Inventories . Perpetual system: continuously track changes in the inventory account, a company records all purchase and sales of goods directly in the inventory account as they occur. ( Purchase of merchandise for resale or RM for production are debited to inventory rather than to purchase; Freight-in is debited to inventory, Purchase returns and allowances and purchase discounts are credited to inventory; COGS is recorded at the time of each sale by debiting COGS and cred iting Inventory 2. Periodic system: a company determines the Q of inventory on hand only periodically. It records all acquisitions of inventory by debiting the purchase account. The periodic system matches the total withdrawals for the month with the total purchases for the month in applying the LIFO method. In contrast, the perpetual system matches each withdrawal with the immediately preceding purchases. FIFO periodic and FIFO perpetual provide the same gross profit and inventory value. LIFO usually produces a lower GP than FIFO. 3. Basic issues in inventory valuation: (1). he physical goods to include in inventory (who owns the goods: FOB shipping point—Buyer’s at time of deliver; Consignment goods—seller’s; Sales with buyback—seller’s; Sales with high rate of returns—buyer’s, if you can estimate returns; Sales on installments—buyer’s, if you can estimate collectability. (2) The cost to include in inventory (product vs. period cos ts). (3) The cost flow assumption to adopt (specific identification, average cost, FIFO, LIFO, retail) 4. FIFO: in all cases, the inventory and COGS would be the same at the end of the month whether a perpetual or periodic system is used. LIFO: results in different ending inventory and COGS amounts that the amounts calculated under the periodic method. Not allowed under IFRS; LIFO liquidation can suddenly Inc tax liability; ADV: matching—reflect current prices; tax benefits; fewer write downs of Inventory; DIS: lower NI; understate EI Ch9 Inventories: Additional valuation issues 1. A company abandons the historical cost principle when the future utility (revenue-producing ability) of the asset drops below its original cost. Companies therefore report inventories at the lower-of-cost-or-market (a conservative approach to inventory valuation) at each reporting period. Net realizable value is the estimated selling price less reasonably predictable costs of completion and disposal (net selling price). A normal profit margin is subtracted from that amount to arrive at net realizable value less a normal profit margin. The general LCM rule is: a company values inventory at the LCM, replacement cost with market limited to an amount that is not more than NRV (upper, ceiling) or less than NRV less a normal profit margin (lower, floor). The designated market value is the amount that a company compares to cost. It is always the middle value of three amounts (replacement cost, NRV and NRV less a normal PM). Assumption A: Computes a cost ratio after markups (and markup cancellations) but before markdowns. One approach use only assumption A. It approximates the lower-of-average-cost-or-market. We will refer to this approach as the conventional retail inventory method or the LCM approach. It also provides the most conservative estimate of EI. How to cite Acc 300 Exam 2 Study Guide, Essay examples

Heading Management And Organizations In A Global Environment

Question: Discuss about the Management And Organizations In A Global Environment. Answer: For propermanagement of organizations, one should consider the corporate culture and strategy and take enough care to prevent the duo from colliding since their collision could cost the organization much. (Kinicki, 2012) Leaders need to create a match between culture and corporate strategies since sometimes the cultures may bring surprising outcomes." He explained culture as a combination of the shared beliefs, assumptions and values people have about where they work and the culture determines how an organization undertakes its various duties. The various types of cultures include; market cultures- these cultures are expected to be more profitable than others since they bring about quality goods and services, the clan cultures also play their role in that they provide higher employee commitment and morale. The adhocracy cultures aim at making the business more innovative whereas the hierarchy cultures strive at making the firm to be more efficient. An example of an organization where this is experienced is the Amazon market whereby these people have effective online marketing culture system whereby they provide high-quality goods and services from their online store. Their employees are very friendly to the customers thus portraying that their clan culture is well developed. Regarding adhocracy, the Amazon online platform is innovatively developed whereby clients can make their purchases at ease. Their method of purchase and delivery of the goods that one has ordered is very efficient showing that their order of hierarchy culture is good. This shows that cultures can effectively work together and in case one needs to change the culture one needs to develop strategies that don't conflict with the cultures.According to (Kinicki 2012) "the strategies that conflict with the various cultures are bound to fail. "Senior executives need to comprehensively evaluate and discuss the types of cultures that will be in line with the strategies that are being put in place. The culture of any organization is another factor that contributes to themanagement and the running of organizations (Alvesson, n.d). The organization culture has numerous definitions due to its diverse approaches, but in summary, after assessing all the definitions, the culture of the organization can be referred to the reflection of the values of its leaders or their believe system. It is the leadership of the firm that determines the culture to be adopted in the firm. When a right leader is in the business he can protect the firm from any negative culture which will make the employees work efficiently to serving their customers example recently I brainstormed about this issue and recalled that the CEO at a company where I had done for an education attachment had created a culture of shooting blaming the messenger making the employees demoralised and unhappy therefore offered poor services. Compared to the current company where am working as an intern, the CEO is very accommodative , and this makes the employees feel and believe that they are the most valuable assets in that organization hence they work willingly, with high morale and they serve the customers right hence promoting the success of the business. However, if an employee continues being unproductive, one may develop a strategy as one used in Zappo company, a company that that is quick growing and is well known for selling a lot of shoes mainly via the internet. The company offers a free training program to its employees where they still get their full salary. The company then gives an offer to the new employees that it would pay them all their dues and add them $1000 bonus if they decide to quit the job then. Yes, employees are paid to quit! This is a strategy that the company uses to test the commitment of the new employee, if on decides to quit due to the offer the company is ready to lay the worker off since it terms the person as unproductive. About this, the Zappo's C.E.O talks about building a culture based company, and this is evident in his organization since unlike other organizations, Zappo is more concerned with customer's satisfaction as a priority and the rest such as profits come second. This culture has made the company attract more customers hence, in turn, generating more profits (Withiam, 2011). Toyota is another example of a company that has a well-built organization culture that helps it to remain at the peak of the best automobile company (Kunda, 2009). Its culture can be viewed in seven dimensions that include; they are innovative and risk takers since they focus much on the process and design of their products, they take risks in that they recall their products in case a fault is detected in them. The other dimension is that they pay attention to details in their products to uphold their standards. They are also results-oriented in that they aim at producing error-free products and they recall any inferior product when detected to have been released without their full consent. The company is also people oriented in that it has a high regard for its employees all over the word and it appreciates them heavily. Toyota is also very aggressive in that it aims higher compared to its competitors. Stability is another factor that is seen in the organization whereby the decision makers in the organization can mitigate the losses that would be experienced example when the company recalls fleets that it had already processed and shipped. According to (BCG, 2011), organization design is another factor that contributes to effectivemanagement and organizations in the global environment. He mentions that a good organization design is made from having the right strategies in place. He further says that for the firm to have the right strategies, it must be well organized with clearly defined ways and procedures. Zappo Company also advocated for the use of holacracy in management. Holacracy is a system of organization management that involves devolving of authority and decision making tasks to self-organised teams other than always overloading the task to the management hierarchy. Holacracy is coined from the word holism whereby it means that everyone is in involved in the process. Holacaracy intends to replace bureaucracy in that in bureaucracy they are only one channel where there is a downward flow of authority an upward flow of responsibility whereas in holacracy peer to peer relationships are used whereby the employees work with self-control in their teams without intimidation from their bosses(Robertson, 2015). Conclusion It is now evident that the organization culture, strategies, structure and design are inter-dependent and are all aimed at promoting efficiency towards the management and organization in general. What is important while incorporating the latter is that one must ensure that these factors are compatible and do not conflict. Recommendation Adopting new ways of management such as Holacracy is welcome since it changes the traditional management styles and brings better techniques which promote efficiency in management and the organization in general. Developing new strategies should involve all the stakeholders so that everyone can be comfortable and that it does not interfere with the existing cultures for the smooth running of the organization. References Alvesson,M. (n.d.). Organizational Culture:Meaning,Discourse,and Identity.The Handbook of Organizational Culture and Climate, 11-28. doi:10.4135/9781483307961.n2 Cox, T. (1994). Cultural diversity in organizations: Theory, research and practice. Berrett-Koehler Publishers. Ehrhart,M.G., Schneider,B. (2016). Organizational Climate and Culture.Oxford Research Encyclopedia of Psychology. doi:10.1093/acrefore/9780190236557.013.3 Kinicki, A. J. (2012). Organizational culture and climate. John Wiley Sons, Inc. Kunda, G. (2009). Engineering culture: Control and commitment in a high-tech corporation. Robertson, B. J. (2015). Holacracy: The new management system for a rapidly changing world. Macmillan. References Temple University Press. The Handbook of Organizational Culture and Climate. (2011). doi:10.4135/9781483307961 Withiam, G. (2011). Social media and the hospitality industry: Holding the tiger by the tail.