COMPARATIVE SOCIALQ&A2 Essay Example | Topics and Well Written Essays - 2500 words

COMPARATIVE SOCIALQ&A2 - Essay Example Concrete applications of the concept, though, are noticeably vague and varied. Consequently, there is little agreement over the definition of the concept, and it is exceptionally simple for sociologists to be discussing at cross objectives since they depend on various, and commonly understood, ideas of social structure. This unusual condition, that one of the core concepts of the discipline is strikingly misinterpreted, is obvious from the definitions of social structure in key dictionaries of sociology. Social structure is basically defined by sociologists as â€Å"a term loosely applied to any recurring pattern of social behaviour; or, more specifically, to the ordered interrelationships between the different elements of a social system or society† (Lopez & Scott 2000: 1). Having provided this obviously broad description, the dictionary immediately confirms: â€Å"However, there is no generally agreed meaning, and attempts at providing succinct definitions have proved singularly successful† (Lopez & Scott 2000: 1). Nevertheless, social structure should be understood as a network of social relationships among various groups of people, as well as a set of collective relations that unite people together. These binding relationships organise the activities of the individuals so attached as well as their purposes and opportunities for fulfilling them. The notion of a social agency indicates the fact that individuals behave with purpose in their socially controlled settings to realise their socially organised interests. In the duration of their purposive quests individuals modify the structures that unite them (Nadel 1957). It is important to understand social structure for the reason that there is no existing community devoid of social structure, and a human community will be impossible without culture. Humanity’s social structures are significantly more unpredictable than those of other genus, yet not as

Loyalty Program and the effectiveness on Thai consumer decision-making Essay

Loyalty Program and the effectiveness on Thai consumer decision-making in Hotel Industry - Essay Example All quotations have been distinguished by quotation marks and all sources of information have been acknowledged by means of references including those of the internet. Using a random sample of 150 Thai hotel patrons, the survey questionnaire found that male respondents attached higher importance on the hotel providing programs for children; sending out newsletters; providing upgrades when available; checking in and checking out at a time that suits customer; and helping the customer you with all other reservations upon reservation at the hotel. The results on Pearson r show that except for the last item, all loyalty factors significantly increase in importance as the age of the customer increases. The idea of promoting loyalty in customers is composed of an intricate set of tactics and schemes which is not only aimed at attracting more consumers, but also seeks to add value to an organisation. A hotel’s management team has to oversee the operations as a whole and in detail, which includes monitoring the over-all performance of every department in order to ensure that guests are always satisfied beyond their expectations. Products and servic es must possess a quality which when compared to others, is far more superior and would make customers feel that they could not find and come across the same quality elsewhere. The current research has been effective at ascertaining the factors that promote loyalty in the Thai hotels. The researcher concludes that the Thai hotel management must be keenly aware of the peculiarities of the needs and wants of its clients, to be able to dovetail their strategies towards these needs. Thailand is the 51st largest country in the world, particularly when it comes to the total surface area that it encompasses. It is a Buddhist country, and a very devout one at that, since the religion is currently being practiced by the majority of the population. The government of

Critically review recent public health policy developments

Critically review recent public health policy developments This assignment will critically review recent public health policy developments in the field of Cancer in England also it will evaluate its effectiveness and implications for public health and health promotion practice. This assignment will first briefly review the recent public health policies of England starting from Health of the Nation white paper (1992), Saving lives white paper (1999), Cancer Plan (2000) Choosing health white paper (2004) and the most recent public health policy for Cancer Cancer Reform Strategy (2007). After reviewing the recent public health policy developments for cancer in England, evaluation and implications of these policies will be discussed. From 1992 to 1997, the Health of the Nation (HOTN) strategy was the central plank of health policy in England and formed the context for the planning of services provided by the National Health Services (NHS). The HOTN policy focused on five key areas: coronary heart disease and stroke; cancer; mental illness; HIV/AIDS and sexual health; and accidents. Each area had a statement of main objectives attached to it, together with twenty seven targets across the areas. Cancer targets of the HOTN policy were to, reduce death rate for breast cancer in women invited for screening by more than 25% by 2000, reduce incidence of invasive cervical cancer by 20% by 2000, reduce death rate for lung cancer in those aged less than 75 by 30% (men) and 15% (women) by 2010, halt year on year increase in incidence of skin cancer by 2005 (Department of Health 1992). Health of the Nation white papers importance lay in the fact that it represented the first explicit attempt by government to provide a strategic approach to improve the overall health of the population. But according to the review of the HOTNs policy commissioned by Department of Health 2000, HOTNs policy failed over its five year lifespan to recognize its full potential and was handicapped from the outset by numerous flaws of both a conceptual and process type nature. Its impact on policy documents peaked as early as 1993; and, by 1997, its impact on local health policy making was negligible. The HOTNs policy was regarded as a Department of Health initiative which lacked cross-departmental commitment and ownership. At local level, it was seen as principally a health service document and lacked local government ownership. (The Health of the Nation a policy assessed 2000). The White Paper Saving Lives Our Healthier Nation was published on 6 July 1999 together with Reducing Health Inequalities: an Action Report. These two documents set out the Governments strategy for health for the next 10 years. They brought a new and important focus to the promotion of health and the prevention of ill-health. The health strategy set out in the White Paper was centred on four priority areas (cancer, coronary heart disease and stroke, accidents and mental health). Action to tackle these important areas of ill-health was set in the context of both a Government-wide agenda to address the underlying causes (through, for example, measures to combat poverty, to improve education and work opportunities, and to improve the environment including the quality of the housing stock); also through the wider public health agenda, specifically action to tackle smoking (DH 2000) The NHS Cancer Plan (2000) was the first comprehensive National cancer programme for England. It had four aims: to save more lives, to ensure people with cancer get the right professional support and care as well as the best treatments, to tackle the inequalities in health that mean unskilled workers are, twice as likely to die from cancer as professionals, to build for the future through investment in the cancer workforce, through strong research and through preparation for the genetics, revolution, so that the NHS never falls behind in cancer care again (NHS Cancer Plan 2000) . According to Department of Health (2000), for the first time this plan provided a comprehensive strategy for bringing together prevention, screening, diagnosis, treatment and care for cancer and the investment needed to deliver these services in terms of improved staffing, equipment, drugs, treatments and information systems. At the heart of the Plan there were three new commitments. 1) In addition to the ex isting (Smoking Kills white paper 1998) target of reducing smoking in adults from 28% to 24% by 2010, new national and local targets to address the gap between socio-economic groups in smoking rates and the resulting risks of cancer and heart disease. 2) New goals and targets was set to reduce waiting times for diagnosis and treatment of cancer so that no one should wait longer than one month from an urgent referral for suspected cancer to the beginning of treatment except for a good clinical reason or through patient choice. 3) An extra  £50 million NHS investment a year by 2004 in hospices and specialist palliative care, to improve access to these services across the country. For the first time ever, NHS investment in specialist palliative care services will match that of the voluntary sector (Cancer Plan DH 2000). There were enormous achievements since the NHS Cancer Plan 2000, like action on tobacco and the smoking ban had led to a fall in smoking rates (from 28% of the population in 1998 to 24% in 2005), amounting to 1.6 million fewer smokers. More cancers were detected through screening by National Cancer Screening Programmes for breast, bowel and cervical cancers. New screening programmes were introduced as and when they were proven to be both clinically and cost effective. Waiting times for cancer care have reduced dramatically. There had been a major increase in the use of drugs approved by the National Institute for Health and Clinical Excellence (NICE), to treat cancer with less variation between cancer networks. Since April 1 2009, patients undergoing treatment for cancer, including the effects of past cancer treatment, have been able to apply for a medical exemption certificate. It is expected that the new scheme will benefit up to 150,000 people already diagnosed with cancer, who might pay  £100 or more each year in prescription charges (NHS Cancer Plan DH, 2010) Although there are tremendous improvements of NHS Cancer Plan according to Department of health but according to the The Lancet Oncology editorial 2009 the NHS cancer plan for England was set up, at least in part, in reaction to data from the EUROCARE project, which showed that England cancer survival rates was lagging behind the rest of the Europe. The stated aim of the plan was: By 2010, Englands five year survival rates for cancer will compare with the best in Europe. Despite all the caveats that must be borne in mind when extrapolating from available data, and when comparing across European countries, the evidence available suggests that England is at best keeping track with improvements elsewhere, rather than closing the gap, and that the 2010 cancer target looks optimistic. Solutions to the problems of cancer are not easy, but perhaps the time has come to consider rather more fundamental changes to the NHS than are offered in the cancer plan if England is to truly offer world c lass healthcare (The Lancet Oncology 2009). According to Bosanquet et al (2008) huge amounts of money have been thrown at cancer in NHS cancer plan. The exact sum is opaque but the investment in cancer care has more than tripled over the past decade and now have approached European levels but improvements in cancer survival rates is not comparable with other European countries (Bosanquet et al, 2008). The Choosing Health White Paper was published in November 2004.   Choosing Health identified six key priority areas: tackling health inequalities, reducing the numbers of people who smoke, tackling obesity, improving sexual health, improving mental health and well-being, reducing harm and encouraging sensible drinking (Choosing Health, Department of Health 2004). Choosing health policy was particularly successful in banning the smoking in public places (Department of Health 2010). Before reviewing the most recent public health policy development for Cancer in England it is important to look at the current and past statistics of Cancer in the England. Also according to the Parkin (2006) accurate statistics on cancer occurrence and outcome are essential both for the purposes of research (into causes, prevention and treatment of cancer) and for the planning and evaluation of programmes for cancer control. According to the Office for National Statistics (ONS) 2010 UK the four most common cancers, breast, lung, colorectal and prostate accounted for more than half of the 245,300 new cases of malignant cancer (excluding non-melanoma skin cancer) registered in England in 2007. Of the total number of new cases in 2007 in England, 123,100 were in males and 122,200 in females, breast cancer accounted for 31 per cent of all cases of cancers in England among women and prostate cancer accounted for 25 per cent of all cases of cancers in England among men. Cancer is predomin antly a disease of older people as only 0.5 per cent of cases registered in 2007 in England were in children (age under 15) and 25 per cent were in people aged under 60. Between 1971 and 2007, the age-standardised incidence of cancer increased by around 21 per cent in males and 45 per cent in females in England. In each year in England over one in four people die from cancer. In England cancer accounts for 30 per cent of all deaths in males and 25 per cent of all deaths in females (ONS UK, 2010). Survival rates of cancer patients in England varies by type of cancer and, for each cancer, by a number of factors including sex, age and socio-economic status. Five-year relative survival is very low (in the range 3-16 per cent) for cancers of the pancreas, lung, oesophagus, stomach and brain for patients diagnosed in England in 2001-06, compared with ovarian cancer (39 per cent), cancers of the bladder, colon and cervix (47-64 per cent), and cancers of the prostate and breast (77-82 per c ent). In England for the majority of cancers, a higher proportion of women than men usually survives for at least five years after diagnosis. Among adults, the younger the age at diagnosis, the higher the survival for almost every cancer. In England five year survival rates for patients diagnosed between 2001-06 have improved slightly or stayed stable for 16 of the 21 most common cancers compared to the period 2000-04 (Cancer Research UK, ONS UK 2010). The most recent public health policy for cancer in England is the Cancer Reform Strategy (DH 2010). The Cancer Reform Strategy published in December 2007, builds on progress made since publication of the NHS Cancer Plan in 2000 and sets out a clear direction for cancer services. According to the document of Cancer Reform Strategy published by Department of Health (2007), it shows how by 2012 cancer services in England can be among the best in the world. It also launched three new initiatives: 1) The National Awareness and Early Diagnosis Initiative, aimed to raise awareness of cancer symptoms among the public and health professionals and encourage those who may have symptoms to seek early attention. Almost  £5 million was allocated to the NHS to support cancer networks and primary care trusts in improving awareness of cancers and promoting early diagnosis. 2) The National Cancer Survivorship Initiative is working to improve support for the 1.63 million people currently living with and beyond cancer in England. 3) The National Equality Initiative is working to reduce inequalities in cancer care. According to the Department of health (2010) the aims of the Cancer Reform Strategy is to build on progress already made and meet remaining challenges, the government has developed this strategy to set out the next steps for delivering cancer services in England, by saving more lives through prevention of cancer whenever possible and through earlier detection and better treatment, by improving patients quality of life by ensuring services patient centred and well-coordinated and by offering choice where appropriate, increase public awareness of cancer, reduce inequalities in access to services and in service quality thereby reducing inequalities in cancer outcomes, build for the future, through education, research and workforce development, and enable cancer care to be delivered in the best place, at the right time. Prevention of cancer by screening is a most important aspect to tackle cancer. NHS Screening programmes are part of the Cancer reform strategy 2007. According to NHS Screening Programme (2010), over half of all cancers in the past could be prevented if people adopted healthy lifestyles such as: by stopping smoking, avoiding obesity, eating a healthy diet, undertaking a moderate level of physical activity, avoiding too much alcohol, and excessive exposure to sunlight. According to the NHS Cervical Screening Programme (2010), it saves up to 4,500 lives in England every year. Within the NHS Cervical Screening Programme in England, women aged 25 to 49 are invited for free cervical screening every three years, and women aged 50 to 64 are invited every five years. Women over the age of 65 are invited if their previous three tests were not clear or if they have never been screened. According to the NHS Breast Screening Programme (2010), its breast screening awareness programme regarded as one of the best screening programmes in the world, saving an estimated 1,400 lives each year. 96.4 per cent of women who have had invasive breast cancer detected by screening are alive five years later. Under the NHS Breast Screening Programme, breast screening is provided every three years for all women in England aged 50 and over. Currently, women aged between 50 to 69 years are invited routinely and women over the age of 70 can request free three-yearly screening.  The eligible age range for routine breast screening will be extended further to provide nine screening rounds between 47 and 73 years. According to the NHS Bowel Cancer Screening Programme (2010), it is one of the first National bowel screening programmes in the world and the first cancer screening programme in England to include men as well as women. All men and women aged 60 to 69 are expected to be included by December 2010, meaning around 2 million men and women will be screened and an estimated 3,000 cancers detected every year. The programme will be extended from 2010 to include men and women aged 70-75 years. According to the Lancet Oncology editorial (2009), although the Governments Cancer Plan and Cancer Reform Strategy has had some impact on how long sufferers survive after diagnosis, it is still struggling to close the gap between England and other European countries. A study by Bernard Rachet et al, (2007) published in the Lancet Oncology journal also suggested that some of the improvements in cancer in England merely reflect ongoing trends in cancer cure rather than real change. There are also large variations in cancer cure and survival rates across the country, with patients in the North West of England still more likely to die earlier from the same cancer as those in the South of England. An editorial in the journal also warns that the time has come to consider more fundamental change in the NHS than the Cancer Plan and Cancer Reform Strategy offers. The study by Bernard Rachet et al, (2007) in The Lancet Oncology journal looked at survival rates for 21 common cancers, comparing the rates in England and Wales, ( in Wales a similar scheme like Cancer Plan was introduced only in 2006) most cancers showed a rise in survival rates in England compared to Wales after 2001, but there was a fall in the survival rates in England compared to Wales for bladder cancer, Hodgkins lymphoma and leukaemia (blood cancer). According to the Professor Karol Sikora, medical director of Cancer Partners UK, (Lancet Oncology 2009) that there is no striking improvement in the cancer cure rates and survival rates in England, despite the huge resources involved in the NHS cancer Plan and Cancer reform strategy, also there is still wide regional variation in survival, with deprivation still being linked to poor outcome, a factor which the plan was meant to address. Also according to Karol Sikora, access to new cancer drugs in England is also poor, the latest EU comparator (2008) shows that the use of six cancer drugs approved in the past three years is fivefold less in the UK than the EU average. According to Ciaran Devane Macmillan Cancer Support (Telegraph UK April 2010), although there are more cancer survivors in England because of both the improvements in treatment and an ageing population, but this does not show the whole picture of cancer policy of England. After once the treatment of cancer ends, many patients feel abandoned by the NHS and struggle to cope with the long-term effects of cancer, and cancer treatment. The NHS cancer policy needs to ensure all cancer patients have the support they need to manage the long term effects of cancer treatment. A recent report by National Radiotherapy Advisory Group (2007) suggests that England need a massive 90% expansion in radiotherapy provision for cancer patients. According to Crump (2009) that in England radiotherapy for cancer patients is at the same level as it was in the 1980s, with only 7% of eligible patients getting precisely targeted intensity-modulated radiotherapy. In conclusion of this assignment, although the recent public health policy developments in field of cancer have shown some success in England but there are certain areas where significant improvement is require like early detection of cancers to reduce higher incidence rates of cancer by decreasing the waiting times for patients and cancer survival rates especially when comparing to other top European countries. There is a need to change cancer policy of England to meet the real requirements of current and future cancer patients.

Halloween: Family fun or Satan’s Playground? Essay -- Halloween Argume

Okay, I admit this time of year is a guilty pleasure of mine, with the changing of the seasons. The crisp cool days and evenings let you cook hearty healthy meals that fill the home with such sumptuous, delicious smells. It’s the time of year for hot apple cider, pumpkins and families that get together. Harvest time used to be a time when all the hard work of the year was being stored up for the long cold months of winter. We recently had the pleasure of hearing: â€Å"Trick or treat, smell my feet, give me something good to eat.† Why do we say this? Where did this tradition come from? What is the reason for our dressing up, and the pumpkins that we carve? Who originally came up with this celebration and why? Let’s not forget the all-important slasher movies and TV specials. Although many people feel Halloween is not a holiday and should not be celebrated, I believe it is a holiday, because it is steeped in tradition, truly an American holiday, and a social revelry of merriment that everyone can enjoy. Murray Hope explains on Joelle's Sacred Grove Entrance website, that this ancient holiday celebration began with the Celts (people of Ireland, Scotland, Wales and England) approximately in the 5th century BCE. After the occupation of the British Isle’s many of the Roman pagan ways were added to this celebration such as their Goddess of harvest, Pomona whose sacred fruit is the apple. It is believed that this is why we celebrate the festivities with apple cider, bobbing for apples and candy apples (Wolf). This all lasted until Christianity decided to convert all pagans, and incorporated many of their holidays into the churches calendar. Pope Gregory IV was the first to try combining pagan ways within the Church so he crea... ...ngest Holidays." Suite101.com: Online Magazine and Writers' Network. 28 Sept. 2007. Web. October 8, 2010. Schaadt, Robert L. "Bats and Halloween - The Vindicator: News." The Vindicator: The Oldest Continuously Printing News Source in South Liberty County since 1887. Web. 21 Nov. 2010. "Should Christians Participate in Halloween? - ChristianAnswers.Net." Christian Answers ® Networkâ„ ¢ (ChristianAnswers.Net): Multilingual Answers, Reviews, Ministry Resources, and More! [Home]. Web. 21 Nov. 2010. Skal, David J. Death Makes a Holiday. New York: Bloomsbury, 2002. Print. "Unusual Pumpkin Facts." Pumpkin Patch - Everything You Ever Wanted To Know About Pumpkins! Web. October 8, 2010. Wolf, Spring. "The Pagan's Path ~ Witchcraft & Shamanism - The History Of Samhain / Halloween." The Pagan's Path ~ Education Network. 13 Oct. 2009. Web. October 8, 2010.

Ch1 Analysis

CHAPTER 1—INTRODUCTION TO FINANCIAL REPORTING MULTIPLE CHOICE 1. Charging off equipment that cost less than $20 would be an example of the application of: a. |going concern| b. |cost| c. |matching| d. |materiality| e. |realization| ANS:D 2. The going concern assumption: a. |is applicable to all financial statements| b. |primarily involves periodic income measurement| c. |allows for the statements to be prepared under generally accepted accounting principles| d. |requires that accounting procedures be the same from period to period| e. |none of the answers are correct| ANS:C 3.Understating assets and revenues is justified based on: a. |realization assumption| b. |matching| c. |consistency| d. |realization| e. |none of the answers are correct| ANS:E 4. The assumption that enables us to prepare periodic statements between the time that a business commences operations and the time it goes out of business is: a. |time period| b. |business entity| c. |historical cost| d. |transactio n| e. |none of the answers are correct| ANS:A 5. Valuing assets at their liquidation values is not consistent with: a. |conservatism| b. |materiality| c. |going concern| d. |time period| . |none of the answers are correct| ANS:C 6. The business being separate and distinct from the owners is an integral part of the: a. |time period assumption| b. |going concern assumption| c. |business entity assumption| d. |realization assumption| e. |none of the answers are correct| ANS:C 7. The principle that assumes the reader of the financial statements is not interested in the liquidation values is: a. |conservatism| b. |matching| c. |time period| d. |realization| e. |none of the answers are correct| ANS:E 8. An accounting period that ends when operations are at a low ebb is: a. a calendar year| b. |a fiscal year| c. |the natural business year| d. |an operating year| e. |none of the answers are correct| ANS:C 9. The accounting principle that assumes that inflation will not take place or will be immaterial is: a. |monetary unit| b. |historical cost| c. |realization| d. |going concern| e. |none of the answers are correct| ANS:A 10. Valuing inventory at the lower of cost or market is an application of the: a. |time period assumption| b. |realization principle| c. |going concern principle| d. |conservatism principle| e. |none of the answers are correct| ANS:D 11.The realization principle leads accountants to usually recognize revenue at: a. |the end of production| b. |during production| c. |the receipt of cash| d. |the point of sale| e. |none of the answers are correct| ANS:D 12. The comment that â€Å"items that are not material may be recorded in the financial statements in the most economical and expedient manner possible† is representative of: a. |matching| b. |conservatism| c. |realization| d. |materiality| e. |none of the answers are correct| ANS:D 13. The assumption that deals with when to recognize the costs that are associated with the revenue that is being re cognized is: a. matching| b. |going concern| c. |consistency| d. |materiality| e. |none of the answers are correct| ANS:A 14. The most significant current source of generally accepted accounting principles is the: a. |New York Stock Exchange| b. |Accounting Principles Board| c. |Accounting Research Studies| d. |AICPA committee on Accounting Procedure| e. |Financial Accounting Standards Board| ANS:E 15. All but one of the following statements indicates a difference between the Financial Accounting Standards Board (FASB) and prior approaches. Select the one that is not a difference. a. The FASB is independent of the AICPA. | b. |The size of the board is much smaller. | c. |The FASB has broader representation. | d. |The FASB is the primary board for the development of generally accepted accounting principles. | e. |Members of the FASB serve on a full-time basis. | ANS:D 16. The Accounting Principles Board issued Opinions between: a. |1959-1973| b. |1939-1959| c. |1973-present| d. |1966 -1976| e. |none of the answers are correct| ANS:A 17. The Financial Accounting Standards Board has issued statements between: a. |1960-1973| b. |1939-1959| c. |1973-present| d. 1966-1976| e. |none of the answers are correct| ANS:C 18. Accountants face a problem of when to recognize revenue. Which of the following methods of recognizing revenue is not used in practice? a. |point of sale| b. |point of order acceptance| c. |end of production| d. |receipt of cash| e. |revenue recognized during production| ANS:B 19. The organization that has by federal law the responsibility to adopt auditing standards is the: a. |New York Stock Exchange| b. |Public Company Accounting Oversight Board| c. |Accounting Principles Board| d. |Financial Accounting Standards Board| . |AICPA Committee on Accounting Procedure| ANS:B 20. By law, the setting of accounting standards is the responsibility of the: a. |AICPA Committee on Accounting Procedure| b. |New York Stock Exchange| c. |Accounting Principles Board | d. |Securities and Exchange Commission| e. |Financial Accounting Standards Board| ANS:D 21. The assumption that allows accountants to accept some inaccuracy, because of incomplete information about the future, in exchange for more timely reporting is: a. |conservatism| b. |time period| c. |business entity| d. |materiality| e. |realization| ANS:B 22.Which of the following does not relate to The Public Company Accounting Oversight Board (PCAOB)? a. |Two members of the board must be CPAs| b. |In addition to appointing the five members of the PCAOB, the SEC is responsible for the oversight and enforcement authority over the Board| c. |The PCAOB consists of five members appointed by the SEC| d. |The PCAOB is to adopt auditing standards| e. |The PCAOB is to adopt accounting standards| ANS:E 23. Understating expenses is justified based on: a. |time period assumption| b. |conservatism assumption| c. |materiality assumption| d. |matching assumption| . |none of the answers are correct| ANS: E 24. At the end of the fiscal year, an adjusting entry is made that increases salaries payable and increases salaries expense. This entry is an application of which accounting principle? a. |full disclosure| b. |materiality| c. |matching| d. |realization| e. |historical cost| ANS:C 25. Accountants provide for inflation using which of the following accounting principles? a. |going concern| b. |time period| c. |conservatism| d. |materiality| e. |none of the answers are correct| ANS:E 26. Which of these measurement attributes is not currently used in practice? . |historical cost| b. |relevant cost| c. |current market value| d. |current cost| e. |present value| ANS:B 27. The following data relate to Swift Company for the year ended December 31, 2008. Swift Company uses the accrual basis. Sales on credit|$250,000| Cost of inventory sold on credit|170,000| Collections from customers|220,000| Purchase of inventory on credit|150,000| Payment for purchases|140,000| Selling expenses (accrual basis)|40,000| Payment for selling expenses|45,000| Which of the following amounts represents income for Swift Company for the year ended December 31, 2008? a. $60,000| b. |$50,000| c. |$40,000| d. |$35,000| e. |$30,000| ANS:C 28. The following data relate to Rocket Company for the year ended December 31, 2008. Rocket Company uses the cash basis. Sales on credit|$180,000| Cost of inventory sold on credit|130,000| Collections from customers|170,000| Purchase of inventory on credit|140,000| Payment for purchases|150,000| Selling expenses (accrual basis)|20,000| Payment for selling expenses|25,000| Which of the following amounts represents income for Rocket Company for the year ended December 31, 2008? a. |$30,000| b. |$5,000 loss| c. |$40,000| . |$45,000| e. |$50,000| ANS:B 29. The following data relate to Gorr Company for the year ended December 31, 2008. Gorr Company uses the accrual basis. Sales for cash|$200,000| Sales for credit| 220,000| Cost of inventory sold | 180,000| Collec tions from customers| 300,000| Purchases of inventory on credit| 190,000| Payment for purchases| 180,000| Selling expenses (accrual basis)| 50,000| Payment for selling expenses| 60,000| Which of the following represents income for Gorr Company for the year ended December 31, 2008? a. |$180,000| b. |$185,000| c. |$190,000| d. |$200,000| e. none of the answers are correct| ANS:C 30. The following data relate to Falcon Company for the year ended December 31, 2008. Falcon Company uses the cash basis. Sales for cash|$180,000| Sales for credit| 190,000| Cost of inventory sold| 210,000| Collections from customers| 350,000| Purchases of inventory on credit| 200,000| Payment for purchases| 220,000| Selling expenses (accrual basis)| 60,000| Payment for selling expenses| 70,000| Which of the following amounts represents income for Falcon Company for the year ended December 31, 2008? a. |$90,000| b. |$80,000| c. |$70,000| d. $60,000| e. |none of the answers are correct| ANS:D 31. Other than Dec ember, the most popular month for fiscal year-end is: a. |January| b. |March| c. |June| d. |September| e. |October| ANS:D TRUE/FALSE 1. In order to determine the economic success of a grocery store, we should view it as separate from the other resources that are owned by this individual. ANS:T 2. Many of our present financial statement figures would be misleading if it were not for the going concern assumption. ANS:T 3. The going concern assumption does not influence the classification of assets and liabilities. ANS:F 4.The most accurate way to account for the success or failure of an entity is to accumulate all transactions from the opening of business until the business eventually liquidates. ANS:T 5. An entity usually cannot reasonably account for the profits related to inventory until that inventory is sold in the normal course of business. ANS:T 6. To the extent that money does not remain stable, it loses its usefulness as the standard for measuring financial transactions. ANS: T 7. A loss in value of money is called inflation. ANS:T 8. At the time of originally recording a transaction, historical cost also represents the fair market value.ANS:T 9. It would always be conservative to value inventory at market. ANS:F 10. Accountants normally recognize revenue when cash is received. ANS:F 11. The 1933 and 1934 U. S. federal securities laws virtually gave the Securities and Exchange Commission (SEC) authority and responsibility for the development of generally accepted accounting principles. ANS:T 12. The Statements of Financial Accounting Concepts are intended to provide the Financial Accounting Standards Board with a common foundation and the basic underlying reasoning on which to consider the merits of various alternative accounting principles. ANS:T 13.Eventually, the Financial Accounting Standards Board intends to evaluate current principles in terms of the concepts established in the Financial Accounting Concepts. ANS:T 14. Financial Accounting Concepts establish generally accepted accounting principles. ANS:F 15. According to the second Financial Accounting Concept, those characteristics of information that make it a desirable commodity can be viewed as a hierarchy of qualities, with understandability and usefulness for decision making of most importance. ANS:T 16. Performance indicators for nonbusiness organizations are usually formal budgets and donor restrictions.ANS:T 17. Reasonable inaccuracies of accounting for an entity, short of its complete life span, are accepted. ANS:T 18. Using the business entity assumption, the financial statements are prepared separate and distinct from the owners of the entity. ANS:T 19. The time period assumption indicates that the entity will remain in business for an indefinite period time. ANS:F 20. Timeliness is a pervasive constraint imposed upon financial accounting information. ANS:F 21. Relevance and reliability are two primary qualities that make accounting information useful for decision making. ANS:T 22.Predictive value, feedback value, and timeliness are ingredients needed to ensure that the information is reliable. ANS:F 23. Decision usefulness is a pervasive constraint imposed upon financial accounting information. ANS:F 24. Relevance is a quality requiring that the information be timely and that it also have predictive value or feedback value or both. ANS:T 25. The SEC has the authority to determine generally accepted accounting principles and to regulate the accounting profession. ANS:T 26. Some industry practices lead to accounting reports that do not conform to the general theory that underlies accounting.ANS:T 27. All important events that influence the prospects for the entity are recorded and therefore are reflected in the financial statements. ANS:F 28. The accrual basis of accounting recognizes revenue when realized (realization concept) and expenses when incurred (matching concept). ANS:T 29. The cash basis recognizes revenue when cash is received and expenses when cash is paid. ANS:T 30. The accountant records only the events that affect the financial position of the entity and that can be reasonably determined in monetary terms. ANS:T 31.The Sarbanes-Oxley Act has far-reaching consequences for financial reporting and the CPA profession. ANS:T 32. Among the many responsibilities of the PCAOB is to adopt accounting standards. ANS:F 33. For a public company, the SEC requires that a report be filed annually on its internal control systems. ANS:T 34. The Sarbanes-Oxley Act has had an insignificant effect on the relationship between the company and the internal auditor. ANS:F 35. Reporting under Sarbanes-Oxley revealed that very few companies had material weaknesses in their controls and processes. ANS:F 36.Private companies are required to report under Sarbanes-Oxley. ANS:F 37. Some firms question the costs/benefits of implementing Sarbanes-Oxley. ANS:T 38. For many companies that use December 31 for the year-end, we cannot tell if December 31 was selected because it represents a natural business year or if it was selected to represent a calendar year. ANS:T 39. Accounting Trends & Techniques is a compilation of data obtained by a survey of 600 annual reports to stockholders undertaken for the purpose of analyzing the accounting information disclosed in such reports. ANS:T 40.Many companies are on a 51-52 week fiscal year. ANS:F 41. The Sarbanes-Oxley Act has materiality implications. ANS:T 42. Web sites are not very useful when performing analysis. ANS:F 43. Accounting standards codification TM reorganizes the accounting pronouncements into approximately 90 accounting topics. ANS:T 44. Accounting standards codification TM addresses U. S. GAAP for nongovernmental entities. ANS:T PROBLEMS 1. Required: Listed below are several accounting principles and assumptions. Match the letter of each with the appropriate statement. a. Business entity|e. Historical cost|i.Full disclosure| b. Going concern|f. Conservatism|j . Verifiability| c. Time period|g. Realization|k. Materiality| d. Monetary unit|h. Consistency|l. Industry practices| 1. |Some industry practices lead to accounting reports that do not conform to the general theory that underlies accounting. | 2. |Requires the accountant to adhere as closely as possible to verifiable data. | 3. |Requires the entity to give the same treatment to comparable transactions. | 4. |Directs that the measurement that has the least favorable effect on net income and financial position in the current period be selected. 5. |The decision is made to accept some inaccuracy because of incomplete information about the future in exchange for more timely reporting. | 6. |Involves the relative size and importance of an item to a firm. | 7. |A reasonable summarization of financial information is required. | 8. |Deals with the problem of when to recognize revenue. | 9. |The primary value that is used for financial statements. | 10. |Standard of measure for financial sta tements. | 11. |The assumption that the entity being accounted for will remain in business for an indefinite period of time. 12. |Assumption that a business's financial statements are separate and distinct from the personal transactions of the owners. | ANS: 1. |l| 2. |j| 3. |h| 4. |f| 5. |c| 6. |k| 7. |i| 8. |g| 9. |e| 10. |d| 11. |b| 12. |a| 2. Required: State the accounting principle or assumption that is most applicable: a. |The company uses the same accounting principle from period to period. | b. |Financial statements are prepared periodically. | c. |Subscriptions paid in advance are recorded as unearned subscription income. | d. |All significant financial transactions are reported. | e. Personal transactions of the stockholders are not recorded on the company's financial statements. | f. |Land is recorded at $10,000, which was the amount paid. Current value of the land is $25,000. | g. |The accountants determine that the company is in danger of going bankrupt and therefore re fuse to certify the statements as prepared according to generally accepted accounting principles. | h. |The company loses a major customer and does not record a loss. | ANS: a. |consistency| b. |time period| c. |realization| d. |full disclosure| e. |business entity| f. |historical cost| g. |going concern| h. |transaction approach| . Listed below are ten interrelated elements that are directly related to measuring performance and status of an enterprise according to SFAC No. 6, â€Å"Elements of Financial Statements. † a. Assets|f. Comprehensive income| b. Liabilities|g. Revenues| c. Equity|h. Expenses| d. Investments by owners|i. Gains| e. Distribution to owners|j. Losses| Required: Match the letter with the appropriate definition. 1. |Probable future sacrifices of economic benefits arising from present obligations of a particular entity to transfer assets or provide services to other entities in the future as a result of past transactions or events. 2. |Increases in the equi ty of a particular business enterprise resulting from transfers to the enterprise from other entities of something of value to obtain or increase ownership interests (or equity) in it. Assets are most commonly received as investments by owners, but that which is received may also include services or satisfaction or conversion of liabilities of the enterprise. | 3. |A decrease in the equity of a particular business enterprise resulting from transferring assets, rendering services, or incurring liabilities by the enterprise to owners.Decreases ownership interest (or equity) in an enterprise. | 4. |Decreases in the equity (net assets) from peripheral or incidental transactions of an entity and from all other transactions and other events and circumstances affecting the entity during a period, except those that result from expenses or distributions to owners. | 5. |Outflows or other consumption or using up of assets or incurrences of liabilities (or a combination of both) from deliverin g or producing goods, rendering services, or carrying out other activities that onstitute the entity's ongoing major or central operations. | 6. |The change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from nonowner sources. It includes all changes in equity during a period, except those resulting from investments by owners and distributions to owners. | 7. |Probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events. | 8. |The residual interest in the assets of an entity after deducting its liabilities. 9. |Inflows or other enhancements of assets of an entity or settlements of its liabilities (or a combination of both) from delivering or producing goods, rendering services, or engaging in other activities that constitute the entity's ongoing major or central operations. | 10. |Increases in the equity (net assets) from peripheral or incidental transa ctions of an entity and from all other transactions and other events and circumstances from revenues or investments by owners. | ANS: 1. |b| 2. |d| 3. |e| 4. |j| 5. |h| 6. |f| 7. |a| 8. |c| 9. |g| 10. |i| 4.Listed below are several qualitative characteristics. a. |understandability| b. |usefulness for decision making| c. |relevance| d. |reliability| e. |predictive| f. |feedback value| g. |timely| h. |verifiable| i. |representational faithfulness| j. |neutrality| k. |comparability| l. |materiality| m. |benefits of information should exceed its cost| Required: Match the letter (or letters) that goes with each statement. 1. |Two constraints included in the hierarchy. | 2. |For this quality, the information needs to have predictive and feedback value and be timely. | 3. These are the qualitative characteristics that are viewed as having the most importance. | 4. |SFAC No. 2 indicates that to be reliable, the information needs to have these characteristics. | 5. |Interacts with relevance and reliability to contribute to the usefulness of information. | 6. |Two primary qualities that make accounting information useful for decision making. | 7. |For this quality, the information must be verifiable, subject to representational faithfulness, and neutral. | 8. |SFAC No. 2 indicates that to be relevant, the information needs to have these characteristics. |ANS: 1. |l, m| 2. |c| 3. |a, b| 4. |h, i, j| 5. |k| 6. |c, d| 7. |d| 8. |e, f, g| 5. Listed below are ten phrases with the appropriate abbreviation. a. |Generally Accepted Accounting Principles (GAAP)| b. |Securities and Exchange Commission (SEC)| c. |American Institute of Certified Public Accountants (AICPA)| d. |Accounting Principles Board (APB)| e. |Financial Accounting Standards Board (FASB)| f. |Statements of Financial Standards (SFAS)| g. |Discussion Memorandum (DM)| h. |Statements of Position (SOP)| i. |Emerging Issues Task Force (EITF)| j. |Financial Reporting Releases (FRRs)| k. The Public Company Accounting O versight Board (PCAOB)| Required: Match the letter with the appropriate definition. 1. |Issued by the SEC and give the SEC's official position on matters relating to financial reports. | 2. |Accounting principles that have substantial authoritative support. | 3. |A task force of representatives from the accounting profession created by the FASB to deal with emerging issues of financial reporting. | 4. |Created by the Securities Exchange Act of 1934. | 5. |Issued by the Accounting Standards Division of the AICPA to influence the development of accounting standards. 6. |A professional accounting organization whose members are certified public accountants (CPAs). | 7. |Issued official opinion on accounting standards between 1959-1973. | 8. |This board issues four types of pronouncements: (1) Statements of Financial Accounting Standards (SFAS), (2) Interpretations, (3) Technical Bulletins, and (4) Statements of Financial Accounting Concepts (SFAC). | 9. |Presents all known facts and poi nts of view on a topic; issued by the FASB. | 10. |Issued by the Financial Accounting Standards Board (FASB) and establish GAAP for specific accounting issues. 11. |Responsible for adopting auditing standards. | ANS: 1. |j| 2. |a| 3. |i| 4. |b| 5. |h| 6. |c| 7. |d| 8. |e| 9. |g| 10. |f| 11. |k| 6. Listed below are Concept Statements. a. |Statement of Financial Accounting Concepts No. 1| b. |Statement of Financial Accounting Concepts No. 2| c. |Statement of Financial Accounting Concepts No. 3| d. |Statement of Financial Accounting Concepts No. 4| e. |Statement of Financial Accounting Concepts No. 5| f. |Statement of Financial Accounting Concepts No. 6| g. |Statement of Financial Accounting Concepts No. 7| Required:Match the letter that goes with each Concept Statement title. 1. |Objectives of Financial Reporting by nonbusiness| 2. |Elements of Financial Statements of Business Enterprises| 3. |Qualitative Characteristics of Accounting Information| 4. |Elements of Financial Statements (a replacement of No. 3)| 5. |Objective of Financial Reporting by Business Enterprises| 6. |Recognition and Measurement in Financial Statements of Business Enterprise| 7. |Using Cash Flow Information in Accounting Measurements| ANS: 1. |d| 2. |c| 3. |b| 4. |f| 5. |a| 6. |e| 7. |g|

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Annenberg Pubic Policy Center Case 25. 1 A study by the Annenberg Pubic Policy Center investigested one major area of business decision :pricing practices. Specificially,the study addressed consumer knowledge and attitudes about the practices of online retailers adjusting their prices according to customer characteristics,such as how frequency they buy from the retailer. For example ,a website selling cameras charged different prices for the same model depending on whether visitor to the site had previously visited sites that supply price comparisons.In general,charging different prices is called price discrimination and legal unless it discriminates by race or sex or involes antitrust or price-fixing laws . The Annenberg study consisted of telephone interviews conducted with a sample of 15,000 adult,screened to find persons who had used the internet in the preceding 30 days. The questionnaire gathered demographic data and data about Internet usage.In addition,the interviewer read 17 statement about basic laws and practices related to price discrimination and the targeting of consumers according to their shopping behaviors. Respondents were asked whether each of these statements was true or false. Case Exhibit 25-1 Exhibit 25. 1-4 summarize some of the results from this study Questions 1. The information provided here is not detailed enough for a formal report,but assume that you are making an information report in a preliminaly stage of the reporting process.Which of these findings do you want to emphasize as your main point? Why? 2. Prepare a writtrnt summary of the findings,using at least two table or chart 3. Prepare two tables or charts that would be suitable to accompany an oral presentation of these results. Are they different from the visual aids you prepare for question 2? Why or Why notM Case Exhibit 25. 1-1 Selected Information about the Sample Sex | |Male |48% | |Female |52% | |Online Connection at Home | |Dial up connection only |31% | |Cable mo dem |18% | |DSL |25% | |Cable or DSL with another method |13% | |Don’t know |4% | |No connection at home |9% | |Self-Ranked Expertise Navigating the Internet | |Beginer |14% | |Intermediate |40% | |Advanced |34% | |Expert |12% | Source: turow,Joseph,Lauren Felfman,and Kimberly Meltzer, â€Å"Open to Exploitation:American Shoppers online and Offline, â€Å"APPC report,June 2005,p15 dowloaded at http:/annenbergpubicpolicycenter. org/Downloads/information_and_society/turow_appc_report_web_final. pdf,accessed August 22,2011 Case Exhibit 25. 1-2 Responses to Selected Knowledge Questions Statement |Response | | |True |False |Don’t Know | |Companies today have the ability to follow |80% |8% |12% | |my activity across many sites on the web | | | | |It is legal for an online store to charge |38% |29% |33% | |different people different prices as the | | | | |same time today | | | | |By law a site such as Expedia or Orbitz |37% |32% |31% | |that compares prices on different airlines | | | | |must include the lowest airline prices. | | | |It is legal for offline store to charge |29% |42% |29% | |different people different prices as the | | | | |same time today | | | | |When a website has a privacy policy,It |59% |25% |16% | |means the site will not share my | | | | |information with other website or | | | | |companies | | | | *When the number do not add up to 100%. It is because of a rounding errow Boldface type indicates the correct anwer. Source: turow,Joseph,Lauren Felfman,and Kimberly Meltzer, â€Å"Open to Exploitation:American Shoppers online and Offline, â€Å"APPC report,June 2005,p20 dowloaded at http:/annenbergpubicpolicycenter. org/Downloads/information_and_society/turow_appc_report_web_final. pdf,accessed August 22,2011 Case Exhibit 25. 1-3 Respones to select Attitude Question Statement |Response | | |Agree |Disagree |Nature |Don’t know | |It okay if a store charges me | | | | | |price based on what it knows | | | | | |about me |8 % |91% |- |1% | | It okay if an online store I |11% |87% |1% |1% | |use charges different prices for| | | | | |the same products during the | | | | | |same hour | | | | | |It would bother me to learn that|76% |22% |1% |1% | |other people pay less than I do | | | | | |for the same product | | | | | |It would bother me websites I |57% |41% |2% |1% | |shop at keep detailed vior | | | | | |buying beha | | | | | |It okay if a store I shop at |50% |47% |2% |1% | |frequency use information it has| | | | | |about me to create a picture of | | | | |me that improves the services it| | | | | |provide for me. | | | | | *When the number do not add up to 100%. It is because of a rounding errow Boldface type indicates the correct anwer. Source: turow,Joseph,Lauren Felfman,and Kimberly Meltzer, â€Å"Open to Exploitation:American Shoppers online and Offline, â€Å"APPC report,June 2005,p22 dowloaded at http:/annenbergpubicpolicycenter. org/Downloads/information_and_society/turow_appc_report_web_f inal. pdf,accessed August 22,2011