ITM 501 MOD 1 Case Essay

Needspace entered a operating lease with WeHaveIt for 10-Year Lease term.Lease agreements have certain provisions depending on how the contract is written by the lessor to the lessee and what type of lease agreement. In this lease agreement we are focusing operating lease with provisions of NeedSpace and WeHaveIt, which has a 10 year lease term, no options to renew or negotiate renewal offered in the contract and the lessee incurs certain cost, repairs and maintenance. In regards to ASC 840 leases, according to 840-10-20 and 840-10-05-9A, 840-10-05-9B an operating lease is when the lessor the owner of the property gives the lessee the right to use property, plant or equipment for a limited amount of time. Meaning the lessee

ASC 320-10-35-33F: “Changes in the quality of the credit enhancement should be considered when estimating whether a credit loss exists and the period over which the debt security is expected to recover.”

Sparkle Company is a Nigerian diamond mining company. Sparkle is a joint venture, 50 percent owned by Shine and 50 percent owned by Brighten. Both Shine and Brighten are U.S.-based companies with their functional currency being the American dollar. Sparkle Companies functional currency is that of Nigeria, being the Naira. During 2009, Sparkle had several transactions with its joint venture owners and outside parties. The details of Sparkle’s transactions are three loans, three expenditures, and one revenue stream. The loans the company took out were $1 million from Brighten, $1 million from Shine, and 300 million Naira from a local Nigerian bank. The expenditures

After some time, Max discloses that he has been involved in multiple sexual relationships and says he “can get in any woman’s pants.” He also brags that he is smarter than anyone in the group, regardless of the fact that one person has a PhD in

Case 11-6 deals with Lessee Ltd., a company that operates in Britain and uses IFRS. The question in this case is how to classify a lease that Lessee, Ltd. acquired from Lessor Inc. The accounting standard that deals with leases under IFRS is IAS 17. IAS 17 was originally issued in September 1982 and was reissued in December 2003. It classifies leases as either finance leases or operating leases. Finance leases make it so that the lessee recognizes an asset and a liability and the lessor recognizes a receivable, basically transferring all the risks and benefits of ownership. Under operating leases, the lessor still recognizes the asset and the lessee recognizes an expense.

This case is talking about an executive retreat. It was introduced by John Matthews who was a executive had been selected to attend the two-and-a-half-week retreat. The retreat was more like a competition about academic and athletic. The team members should not only get know each other and cooperate with teammates but also need to compete with others. The whole participants were broken into five groups and their aim was to win the competition. There are several sessions about academic and athletic that the participants should complete. After the introduction part the case showed the experience of John. Before the group meeting John was wondering and worried about this retreat. When he was taking the first group meeting, he tried to learn

f) To evaluate the material misstatement in the accounts, I think both of the consolidated income statement and the three financial statements are useful. We need to use the information properly from all the financial statements. However the consolidated income statement is the most useful one. If there is a significant change in an account balance comparing with preceding two years, the auditor will examine whether there a material misstatement exists. For instance, the bad debt expense as a percent of net sales in 2011, 2010 and 2009 are 0.56%, 0.70% and 0.69%, respectively. There should

On a snowy January evening, the Midwestern Medical Group (MMG) management team held a retirement party for Judith Olsen, MMG president. During the evening, Olsen reflected back on the years she had worked for MMG with mixed feelings about her experience. Over the course of their eight-year integration

Information technology has advanced in multiple ways in society, where organizations has implement the structure into their work environment. Industries have outsource their manufacturing to other places in the world and rely on telecommunication to keep the marketing. The geographic distribution has changed significantly by reducing the distance it takes to complete an operation, due to information technology. These are just a couple of examples of how this advanced technology has reshape our society and continuing.

Continual Self-Development is the approach where an individual takes prime responsibility and ownership for their own learning and development. This approach requires motivation and commitment in order to exploit learning opportunities and minimise the impact of weakness. A continuing self-development should be undertaken in partnership with the organisation and self-development should enhance the role held within the organisation. There are many benefits to be derived from continual self-development: improve performance and self-confidence; identify and develop specific skills and qualities; increase learning capacity; help achieve potential.

Compare and contrast the differing demands of leadership and management and discuss two working examples of occasions when managers have to strike a balance between these demands in order to work effectively. Where possible, use work based examples throughout.

The Life Styles Conflict Inventory assignment gave me a chance to see on paper how my thinking styles influence my ability to deal with conflict situation. The life styles survey is geared towards helping individuals gain an insight into their own self development and personality along with the type of behaviors we exercise to others as well. By doing the survey, I have a better understanding on how I can constructively deal with conflict as an individual. The survey also helps us take a look on the positive and negative qualities of our own personalities and different ways we to build and improve upon them.

1. From a strategic management standpoint, why do you think that corporate management at Alcoa delayed taking action for five years as the plant continued to lose money and deteriorate in other operational measures?

In this case module I was asked to watch a video lecture and to review learning activity number one. I was then asked to answer and discuss four different question; from a cultural perspective, is it unusual that Grandmother Marietta is the

Modern organizations use a variety of resources to fulfill their objectives regardless if the company is a multinational or small entity, they all have a set of resources they depend on to achieve their goals. Part of the resource relied on is Information, and this information needs to be managed to optimize its value to produce the best stakeholder value they can. In order to manage these resources, Information Management systems are put in place.