BOOK: Myers, J. E.B (2006). Child Protection In America

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The current political debate in the United States regarding former President Obama’s health care reform featured the iconic question, “If the government can force you to buy health insurance, it can also force you to buy broccoli.” The point of this argument is that as soon as you allow the government to force you to buy something, then the government can force you to buy (or do) anything. If we were present in the early 1900s, we might have heard people ask, “If the government can remove your child, then the government can also take away your husband or wife!” If you were alive in the 1900s, would you have supported the idea that the government can remove children from their homes?

Sample Solution

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Lease Case – American Airlines, British Airways

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CASE INFORMATION
RK Corp, a publically traded NASDAQ company (symbol ARK), is a manufacturer of electrical
automobiles. Based in Chicago, the company has been operating since 1996. The company sells their
electric automobiles to auto manufacturers as well as the retail market on a worldwide basis. Its
major clients are Ford, General Motors and Toyota. Ark has captured about 10 percent of the world market
of the electrical automobile sales. Its stock sells at 25 US Dollars per share, and its 52-week price range is
between 19.75 and 27.15 US Dollars, with a market cap of 10.6 billion dollars.
Their financial statements presented below for the year ending December 31, 2011 has been prepared using
GAAP (Tables 1 and Table 2). The controller would like to see the effect of IFRS treatment of leases on
the financial statements, and you have been assigned this task. In particular, the controller would like to
see the impact GAAP and IFRS differences have on balance sheet, income statement and selected financial
ratios. The company would like to adapt IFRS by as early as next year as it is considering a new stock issue
in the Tokyo Stock Exchange, which requires IFRS compliance.
ADDITIONAL INFORMATION
Ark entered into a lease on January 1, 2011 with the following terms:

  1. Ark leased specialized machinery manufactured by the lessor, Bell Corp., which will enable Ark to
    manufacture their electric cars in a much more efficient manner. This machinery does not have a
    resale market and was made specifically for Ark to meet itsspecifications.
  2. The lease term is for 3 years with a minimum lease payment of $10,000. Payment is due on
    December 31 of each year, with the first payment due on December 31, 2011. At the end of year 3,
    Ark has the option of leasing the equipment for one additional year for $2,500. At the end of the
    lease term, ownership reverts to the lessor. There is no option to buy the equipment.
  3. The lessee will pay all executor costs.
  4. The estimated useful life of the lease is 49 months (4 and 1/12 years.)
  5. The fair market value of the equipment is $30,000.
  6. The implicit rate of Bell Corp. is 6 percent, and the lessee, Ark, knowsthis.
  7. The incremental borrowing rate of Ark is 7 percent.
    QUESTIONS
    1- Differentiate between an operating lease and a capital/ financing Lease for GAAP financial
    reporting purposes.
    2- Under GAAP, has this been treated as a capital lease / financing Lease for Ark or an operating
    lease?
    3- Under IFRS, should this lease be classified as an operating or a financing lease?
    4- Describe the different reporting results between GAAP and IFRS and review the necessary
    adjusting entries to conform the financial statements to IFRS compliance for Year 1 (see below).
    5- Prepare an income statement under IFRS for year 1. Assume that the net income remains the same
    under IFRS as it does for GAAP and any difference is reconciled in the tax expense and tax payable
    accounts.

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Louisiana CAFR

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Using the most recent CAFR available, submit a thread in response to Chapter 16 Communication Case 4. The thread must be supported by two or more reliable sources documented in current APA 7 format and include a Christian worldview component. A minimum of 400 words (excluding the reference list) is required.

https://www.doa.la.gov/Pages/osrap/CAFR_PAFR/cafr_pafr.aspx

Case 4:
Search the internet for the official website of one or more state or local governments. On this website, determine whether the latest comprehensive annual financial report (CAFR) is available. Read the Management’s Discussion and Analysis (MD&A) that should be located near the beginning of the annual report. Write a memo to explain four or five of the most interesting pieces of information that the Management’s Discussion and Analysis provides.

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Definition of business analytics

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Discussion Question #1: How do you describe the importance of data in analytics? Can we think about analytics without data? Explain.

Discussion Question #2: Considering the new and broad definition of business analytics, what are the main inputs and outputs to analytics continuum?

Discussion Question #3: Where do the data for business analytics come from? What are the sources and nature of those incoming data?

Discussion Question #4: What are the most common metrics that make for analytics-ready data?

Exercise #12:

Go to data.gov – a US government-sponsored data portal that has a very large number of data sets on a wide variety of topics ranging from healthcare to education, climate to public safety. Pick a topic that you are most passionate about. Go through the topic-specific information and explanation provided on the site. Explore the possibilities of downloading the data and use your favorite data visualization tool to create your own meaningful information and visualization. Show your visualization on your assignment submission.

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