KPMG Three Little Pigs Inc. Solution Several factors including increased supply have caused declining prices for live hogs on the spot market. Also as shown below, futures prices will remain below the carrying cost for live hogs until nearly the end of the fiscal year. However, processed pork products such as bacon, loins, and ham remain above the current cost of production. Three Little Pigs Inc. is capable of processing hogs into these products internally at some locations. Unfortunately, not all hogs can be transported and processed at the main processing plants and must be sold as live hogs to third parties at spot market prices. There are four potential alternatives for dealing with the possible need to impair the value of Three Little Pigs Inc.'s inventories. Alternative 1: Continue to carry all inventories at cost basis. ARB28, Par.14c ?Such temporary market declines need not be recognized at the interim date since no loss is expected.? EITF, 86-13 Discussion ?? option 28 requires inventory be written to lower of cost or market unless (1) substantial evidence exists that market prices will recover before the inventory is sold?Write down is generally required unless the decline is due to seasonal pricing fluctuation.? ARB43, Ch.4, Par.9 ?Where evidence indicates that cost will be recovered with an approximately normal profit upon sale in the ordinary course of business, no loss should be recognized...? If it can be determined that the depressed prices for lean hogs are only temporary, inventories could and should be kept at cost basis. In this case, adjusting prices to match current market prices would not be necessary. Future prices indicate a recovery before the end of the fiscal year. Futures prices will surpass cost in February and remain above cost for the remainder of the fiscal year. The future prices support claims that the price fluctuations are only temporary in nature, and do not reflect a permanent downward shift in hog prices. Since inventories once impaired cannot be marked up to reflect changes in market conditions, this strategy could be beneficial to the company later on. In this case inventory would not be shown on the books at an unfairly low value. Alternative 2: Mark down all live hog inventories AICPA Audit Procedures for Agricultural Producers Pt.1 Ch5.02 ?Growing crops and developing animals to be held for sale should be valued at the lower of cost or market.? ARB43, Ch.4 Par.8 ?A departure from the cost basis of pricing the inventory is required when the utility of the goods is no longer as great as its cost.
Evaluation and review should be an ongoing process of learning, embedding a process of continual improvement and development. The key to evaluating is knowing what we are measuring. We cannot monitor and evaluate the team’s progress towards agreed objectives without clear advance planning of what we want to do and how it will be achieve. Effective strategic and operational planning, incorporating clear measurable objectives, is therefore an important
An account of the August, 1831 slave revolt led by a slave named Nathaniel “Nat” Turner and happened in Southampton County, Virginia. The event is now known as Nat Turner’s Rebellion and the book is a telling of Nat Turner’s life, the system of slavery that existed in Southampton County and the state of Virginia. The pivotal element of the book is Nat Turner, his life as a slave and why he became the leader of the bloodiest slave revolt in the history of the United States. The author also tells of the tragically brutal events occurring during its suppression.
The experiment that was performed consisted of prices being manipulated on a set of 72 grocery products over a six week period. The products were classified as stock-up goods or non stock-up goods.
this notion of stable supply and demand affected prices of farm commodities. “Low prices on
For Piura, price changes in cowpea, maize, sheep and goat meat were considered. In Campo Verde, the analysis focused on production of cassava, rice, maize, plantain, palm oil, cacao and cattle meat. These scenarios were employed in order to see what happens if the price increased or decreased. For the analysis, five levels of the factor (price change) were considered 0.5, 0.7, 1, 1.3 and 1.5.
first quarter of FY2012, prolonged, shortages in supplies due to capacity issues or other factors affecting the manufacturing process alter the price of these products. When there is a shortage in supplies the company may not be able to source required components in adequate quantities in a timely manner (Cisco Systems, Inc. SWOT Analysis, 2013).The company may be obligated to purchase components at higher than normal prices in the current market because of purchase commitments. When this happens its gross margin is affected. Supply chain issues also lead to delay in order fulfillment, affecting the revenues and margins of the company (Cisco Systems Inc. SWOT Analysis, 2013)
He is a myth due to the lack of historical evidence known about him. Although Styron’s The Confessions of Nat Turner shaped the views of the American population, many different views about Nat Turner are perceived. The views on Nat Turner varied from a hero of oppressed people, murderer of innocent women and children, and a powerful religious leader. William Styron was not a racist, he portrayed the thoughts, actions, and dialect of an African American male during that period in American History. Styron is heavily critiqued over the fact that he is a white male, but he lived in Virginia and he saw and heard about the horrors that went on there when slavery was going on in the south. Though Styron’s novel shaped the way Americans perceived the event, Styron did not intend the story to make such a large impact on the society’s views, even though it ended up being very controversial. Although many people have different opinions on Nat Turner, he will still remain one of the most mysterious historical figures in American
First of all, by compensating people for their organ donations, it would increase the number of
Currently, agribusinesses’ dominate the U.S food production, employing unethical practices in order to maximize profits at the expense of the environment, animal welfare, and even our health. Economically, other methods of harvest often “require higher capital and petroleum energy inputs” that lower “the return to the farmer/rancher” (L34) which results in farmers using other more convenient methods that higher their
As a result, individuals in America have extra income to spend on desired items and help the economy to maintain its economic advantage. An increase in food prices would affect everyone’s level of disposable income and would reduce consumer spending in other industries. Therefore, decreased consumer spending would cause companies to downsize and unemployment would increase. After evaluating the consequences of these regulations it is evident that the success of our economy in America is far more important than ethical treatment of meat.
“My father and mother strengthen me, and this was my first impression of life saying in my presence, I was intended for some great purpose (Nat turner, Brainyqoute.com)”. From the very beginning Nat Turner knew that he was meant to do something great. On the day of October 2, 1800 the famous Nat turner was born to Nancy Turner his father an unknown slave. Turner grew up with the thought that his father was an escaped slave and was coming back when he got the money to retrieve him and his mother. Nat turner grew up and lived his life in Southampton County, Virginia. The place was predominantly African- American but it didn’t stop the use of slavery in the county.
There is an array of key components and factors involved in making an organization a successful business. One of those elements consists on evaluating employee’s performance; this sole component is critical in determining how effective is the organization’s productivity and which are the necessary steps to ensure proper functioning. “The performance appraisal may be one of the few times during the year where an employee and the reviewer, typically the employee's supervisor, can sit down and have a lengthy face-to-face discussion about all aspects of the job” (Joseph, 2016). Employees’ performance assessment serves as an instrument to gather important information as to which areas of the job description are being performed according to standards
Reducing risk ; reducing the quantity of manufactured so that reducing burden of stock and burden of frequent discount sales
In The Book the story of one of history’s most famous Slaves, Nat Turner, is described by Stephen B. Oates. Nat Turner Became famous for leading a rebellion with his fellow slaves. In that rebellion the fugitive slaves killed without remorse the families that owned them. Because of Nat’s good reputation with whites, the rebellion was never expected and the reason behind it was unknown until Nat confessed to Thomas Gray in 1831. Nat Turner’s violent actions caused uproar in the white community and spurred many convulsive attacks in response.
Businesses use many performance measures to evaluate systems, personnel and overall task performance. The key to accurately measuring performance would be knowing the tools and resources are available and how they can best be leveraged for the best of the organization. Annual personnel evaluations and organizational maturity assessments are two methods and organization can measure performance; identify solutions and recommendations to make improvements that increase overall company performance. Personnel evaluations give the company an insight to how employees are working towards achieving strategic goals. Organizational Maturity Assessment focuses on current practices and procedures utilized by the company.