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Shim Company reported sales revenue of 10 million for the year. The company uses FIFO for inventory estimation purposes. Cost of goods sold was 3.8 million. If the company had used LIFO, its cost of goods sold would have been 4.5 million. The company reported depreciation expense of 1.2 million on a straight-line basis. If the company had used accelerated depreciation, it would have reported depreciation expense of 1.7 million. Other expenses, excluding income tax, were 3 million. The company’s income tax rate was 30%.

Required

A. Compute Shim’s net income as reported and as it would have been reported if LIFO and accelerated depreciation had been used.

B. What effect would the choice of accounting methods have on the company’s cash flows from operating activities during the year if the same methods were used for both financial reporting and tax purposes?

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Mary Brown, the supervisor of the word processing center in Delta Corporation in San Antonio, recently retired because of her age. During the years she has been supervisor, various managers felt that Brown should be dismissed because of her laxness in supervising ten employees in the center. Despite the fact that she was reaching retirement age, she was not dismissed. The employees were often late to work, took longer breaks than was permissible, took advantage of the corporation in terms of sick leave, and so forth. Mary was repeatedly asked to be more strict and assertive in her supervisory capacity, but no noticeable changes were ever made. When the qualifications for the replacement for Mary Brown were developed, the decision was made that the new supervisor should be more authoritarian and should require employees in the word processing center to conform with existing company policy. The replacement, Anna-bell Jackson, was hired primarily because of her authoritarian characteristics. All her former employers who were contacted regarding Jackson’s performance mentioned her authoritarian personality. Because of the laxness of Brown and the hope that Jackson could improve the situation, she was offered the job. As the administrative office manager, you are aware that the first day Jackson is on the job will probably determine whether or not the employees in the word processing center will cooperate with her. Thus, you feel a necessity to discuss several thing with her before her first day on the job.

1. Identify the types of information she should know about the employees in the word processing center (5 marks)

2. Discuss the approach you believe Jackson should take in winning the respect and cooperation of the employees in the word processing center. (10 marks)

3. Outline and discuss the recommended skills Jackson should possess which would ensure her success as a supervisor in the word processing department.

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Consider the use of partnerships with customers to improve competitiveness. Discuss this within a group scenario using the following guidelines: a Make a list of companies in your chosen company’s industry known to undertake supplier development. This should include all its customers and other companies that are potential customers. b Make a list of all the types of development and improvement that your chosen company would like help with. c Assemble these lists along the two sides of a grid, following the example shown in Figure 8.22. Mark on the grid where each of the companies is able to provide the necessary help. d Examine the grid you have constructed and identify the following: ● issues that require help that current customers provide; ● issues that require help that only potential customers provide; ● issues that require help that no one provides; ● customers (current or potential) that provide a great deal of help; ● customers (current or potential) that provide little or no help. e Use these five criteria as the basis for identifying companies that should be valuable in ensuring your company’s long-term success. These companies are the ones that should be considered as likely partners. f Having identified the likely partners, identify the difficulties in establishing partnerships and the problems in maintaining them. g Conclude with the actions that you would undertake to overcome the problems associated with partnerships in order to achieve their advantages.

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Disneyland, the fairytale experience

In recent years, several projects involving amusement parks have emerged worldwide, offering different entertainment experiences to tourists. Yet, this growing market is faced with changes in consumer behaviors. Innovative attractions are no longer sufficient to satisfy consumers’ expectations. That is why improving the customer experience is crucial to retaining actual customers and attracting new ones. Disney created its first amusement park in the 1960s. The company places the visitor at the center of its efforts. Thus, it is essential to understand the story behind Disneyland’s success as well as the challenges and how it adapts to new visitors’ needs by enhancing the customer experience through different strategies to satisfy its tier customers and improve their loyalty.

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