http://www.winnipegsun.com/news/winnipeg/2010/04/29/13769751.html
Summary
“Late-night smash-and-grab burglaries” appear to be the newest trend over the past few days in Winnipeg. In each case, a stolen vehicle is rammed through glass or store doors where the burglars will grab anything they are able to steal and flee the crime scene before any witnesses appear. The police are investigating whether the last four incidents over the past weekend are connected, especially with the last two incidents occurring within thirty minutes of each other. While the majority of the stolen items are not yet found, the stolen GMC Sierra truck used to break the glass and some of the stolen goods were located not too far from the crime scene. Damage to the audio/video store was about $12000 and to the liquor store, $40000. At each smash-and-grab burglary a stolen vehicle is used to break through the doors/windows and abandoned once its purpose has been used.
Connections
The connection I was able to make between the article and Chapter 6 was on the topic of theft, cash and accounts receivable. Each time goods are stolen, the company loses its inventory. As a domino effect, which means less cash (or funds from accounts receivable) lessens for there is less products available for sale. Not only so, now the company has to take out cash to fix any doors or windows that have been damaged. When such an event occurs, internal control systems are tightened. Although cash and inventory is already hard to control, that does not necessarily mean it’s impossible. With the help of hidden security cameras, one can have a better chance of catching any incidents on tape to support their argument. Also, better policies for handling assets will lessen the amount of items that get stolen such as physical measures (example: security guards, alarms) and having each individual safeguard different things so that if he/she does steal, it can only be the item he/she safeguards. Despite the fact that the article deals with theft from outsiders, the measures mentioned would be effective nonetheless.
Reflection
With break and entering theft, it is quite difficult to catch the culprit, especially if you don’t happen to be at home or in the store. Perhaps one way to shorten the length of time needed to find the theft would be to install an alarm system that immediately notifies the police. If such measures fail, put the goods that are more valuable in a locked room with no glass doors or windows that are not easily reached. This way the cost of replacing the inventory would be lower. I always found news about theft from stores very interesting. Each story appears to be quite identical, with the only variable changing being the item stolen. Most robberies occur at night so that they can be in stealth but if you happen to make any noise, there's the risk of being noticed. Noise alerts the surroundings and could bring attention to the crime. Bottom line: don't steal. If you cannot afford it, save up for it. It may be hard but there are people who are worse off than you.
Betty Chan
F.Acc12
1-2
Wednesday, May 5, 2010
Tuesday, April 13, 2010
Chpt 5: Cash Flow Statement
http://www.cbc.ca/world/story/2010/04/13/greece-debt-bonds.html
Summary:
Greece has sold $1.56 billion in bonds this Tuesday in attempt to relieve some of the debt they have accumulated over the years and to avoid an International Monetary Fund bailout. The Greek government is under much stress for they have to pay back $70 billion worth of loans before May (when the loans are due). The decision to quickly pay back the loans came when the centre-left Greek government deemed elevated market rates would increase their chances of receiving a bailout. Six-month and one-year Greek bonds were sold for 4.55% and 4.85%, much higher than in the past. Although the bonds they sold are only a small fraction of the debt, it is positive that there are more people interested in buying them than the amount available for sale. The European Union and IMF have agreed to bankroll a $54.3 billion loan to Greece if necessary. On a brighter note, investors were assured by the IMF that Greece will continue to pay their debt for this year.
Connections:
The connections I was able to make with this article and Chapter 5 was the topic of cash flow. Cash flow is the measurement of cash inflows (from A/R) and cash outflows (from purchasing inventory). Where does the money come in from and where is it going out to. In this situation, Greece has had a greater cash outflow than cash inflow, resulting in being in debt to their lenders. To relieve some of the amount of debt, the effort to sell bonds is a good start. This is an increase in capitalization for more bonds are sold.
Reflections:
I think that selling some of their bonds is a good start in decreasing the amount of debt owed but from the article, I got the sense that they are using this as a last effort to lower their debt. With $70 billion worth of debt, it’ll take something much bigger than bonds to reduce the amount. Perhaps Greece should have sold bonds in the beginning when debt started to accumulate rather than wait until now. On another hand, I was rather surprised that there were more people willing to purchase the bonds at a higher rate than in the past. It will be interesting to see when Greece pays off the entirety of the debt.
Betty Chan
F.Acc12 1-2
Summary:
Greece has sold $1.56 billion in bonds this Tuesday in attempt to relieve some of the debt they have accumulated over the years and to avoid an International Monetary Fund bailout. The Greek government is under much stress for they have to pay back $70 billion worth of loans before May (when the loans are due). The decision to quickly pay back the loans came when the centre-left Greek government deemed elevated market rates would increase their chances of receiving a bailout. Six-month and one-year Greek bonds were sold for 4.55% and 4.85%, much higher than in the past. Although the bonds they sold are only a small fraction of the debt, it is positive that there are more people interested in buying them than the amount available for sale. The European Union and IMF have agreed to bankroll a $54.3 billion loan to Greece if necessary. On a brighter note, investors were assured by the IMF that Greece will continue to pay their debt for this year.
Connections:
The connections I was able to make with this article and Chapter 5 was the topic of cash flow. Cash flow is the measurement of cash inflows (from A/R) and cash outflows (from purchasing inventory). Where does the money come in from and where is it going out to. In this situation, Greece has had a greater cash outflow than cash inflow, resulting in being in debt to their lenders. To relieve some of the amount of debt, the effort to sell bonds is a good start. This is an increase in capitalization for more bonds are sold.
Reflections:
I think that selling some of their bonds is a good start in decreasing the amount of debt owed but from the article, I got the sense that they are using this as a last effort to lower their debt. With $70 billion worth of debt, it’ll take something much bigger than bonds to reduce the amount. Perhaps Greece should have sold bonds in the beginning when debt started to accumulate rather than wait until now. On another hand, I was rather surprised that there were more people willing to purchase the bonds at a higher rate than in the past. It will be interesting to see when Greece pays off the entirety of the debt.
Betty Chan
F.Acc12 1-2
Tuesday, March 2, 2010
Chapter 4: Revenue Recognition
http://www.cbc.ca/technology/story/2007/06/13/tech-youtube.html
Summary
Youtube will be partnering with Time Warner Inc. And The Walt Disney Co. To being testing a video recognition program. This program will begin sometime next month and its purpose is to recognize any copyright content in videos to eliminate the amount of pirating. Uploaders will have the option of either removing its video or to purchase a licence. Although the videos on Youtube may be homemade, CBS and NBC are huge attracters of viewers. The motive behind this action may be because of Viacom Inc, who sued Youtube and Google for allowing users to upload videos with copyright content. In response to this, Youtube has begun to use audio recognition in clips, therefore disabling viewers from the audio to a specific clip. With the help of Google Inc, Youtube now has the ability to use a fingerprinting like mechanism to detect whether a video has copyright content or not.
Connections
In this article, I was able to make the connection to revenue recognition. Youtube account holders, if they are able to generate enough subscribers can be made into partners with Youtube. Each time they post a video up and it receives a certain number of views, the account holder is able to earn a small amount of money. By uploading any video, they have the chance of earning profit. Unlike an actual company, who earns their money from customers, uploaders can simply post a video. In addition, there is little to no expenses. Indeed there must be a fee to become an account holder but in the long run, the revenue generated will accumulate and exceed the expense(s) (Net income). In terms of earning a profit through the process of posting videos, the cash to cash cycle need not apply. There is no acquisition of inventory, selling activity, delivery, or warranty. This makes the idea of posting videos up for profit an intriguing idea.
Reflections
Being a Youtube user myself, I am rather on the fence with this decision. Yes it is the proper thing to do but most of the time, Youtube is the place to go when I have missed a show. Depending on the country in which you live in, certain websites such as muchmusic.com may not allow users from a different country to view their online episodes. Since the channel of which the show is broadcasted on does not allow one to view the show, individuals have to resort to using sites where others post clips up. In addition, by using the audio recognition, millions of songs have been removed, leaving viewers to choose between either illegally downloading it or purchasing it through iTunes.
Betty Chan
1-2
Summary
Youtube will be partnering with Time Warner Inc. And The Walt Disney Co. To being testing a video recognition program. This program will begin sometime next month and its purpose is to recognize any copyright content in videos to eliminate the amount of pirating. Uploaders will have the option of either removing its video or to purchase a licence. Although the videos on Youtube may be homemade, CBS and NBC are huge attracters of viewers. The motive behind this action may be because of Viacom Inc, who sued Youtube and Google for allowing users to upload videos with copyright content. In response to this, Youtube has begun to use audio recognition in clips, therefore disabling viewers from the audio to a specific clip. With the help of Google Inc, Youtube now has the ability to use a fingerprinting like mechanism to detect whether a video has copyright content or not.
Connections
In this article, I was able to make the connection to revenue recognition. Youtube account holders, if they are able to generate enough subscribers can be made into partners with Youtube. Each time they post a video up and it receives a certain number of views, the account holder is able to earn a small amount of money. By uploading any video, they have the chance of earning profit. Unlike an actual company, who earns their money from customers, uploaders can simply post a video. In addition, there is little to no expenses. Indeed there must be a fee to become an account holder but in the long run, the revenue generated will accumulate and exceed the expense(s) (Net income). In terms of earning a profit through the process of posting videos, the cash to cash cycle need not apply. There is no acquisition of inventory, selling activity, delivery, or warranty. This makes the idea of posting videos up for profit an intriguing idea.
Reflections
Being a Youtube user myself, I am rather on the fence with this decision. Yes it is the proper thing to do but most of the time, Youtube is the place to go when I have missed a show. Depending on the country in which you live in, certain websites such as muchmusic.com may not allow users from a different country to view their online episodes. Since the channel of which the show is broadcasted on does not allow one to view the show, individuals have to resort to using sites where others post clips up. In addition, by using the audio recognition, millions of songs have been removed, leaving viewers to choose between either illegally downloading it or purchasing it through iTunes.
Betty Chan
1-2
Wednesday, January 20, 2010
Chpt3: Processing Data Through the Accounting System
http://www.marketingmag.ca/english/news/marketer/article.jsp?content=20100112_165100_9552
Summary
Lululemon Athletica, a brand well-known to teenagers and young adults is continuing to broaden its Olympics-related advertisement by offering free yoga classes throughout the month of February. This particular act of marketing is the second attempt by Lululemon after its clothing line that was created for a "Cool Sporting Event That Takes Place in British Columbia Between 2009 and 2011" was scolded by VANOC. Since VANOC has the exclusive marketing right to only allow official, paying sponsors to bear the brand, Lululemon had no other option but to remove that clothing range. In replacement of removing the clothes, they will provide 1200 free classes of yoga throughout the Games duration with the help of YYoga. While the press release that initiated this event did not mention the Olympics, one can only assume.
Connections
As I skimmed through this article, the first thought that occured to me was that this marketing strategy to attract more customers is an infrequent event. While this event does not generate any profit at the time of the two weeks, it has great potential to earn more revenue in the future. Furthermore, since free workshops are not a significant part of Lululemon's regime, there is not much of a need for any segregated section in the financial statements because this event does not directly bring in profit compared to, for example, a sudden inheritance in land.Workshops like this have the ability to allow marketing directors at Lululemon to see what customers like and what to produce more of in order to increase their revenue even more in return.
Reflection
I thought this was a relatively creative idea to gain customers because individuals appear to have a natural tendency to attend occasions that are free. Despite the fact that not everyone will go, word of mouth will come into play and people who are willing to spend money on yoga wear will then proceed to Lululemon, especially since it is one of the biggest companies selling yoga apparel. I also applaud their decision to have this gathering during the Olympics where people from all around the globe will be in Canada and once they know of the company, they can choose to order the apparel in the future.
Betty ChanF. Acc12 D1-P2
Summary
Lululemon Athletica, a brand well-known to teenagers and young adults is continuing to broaden its Olympics-related advertisement by offering free yoga classes throughout the month of February. This particular act of marketing is the second attempt by Lululemon after its clothing line that was created for a "Cool Sporting Event That Takes Place in British Columbia Between 2009 and 2011" was scolded by VANOC. Since VANOC has the exclusive marketing right to only allow official, paying sponsors to bear the brand, Lululemon had no other option but to remove that clothing range. In replacement of removing the clothes, they will provide 1200 free classes of yoga throughout the Games duration with the help of YYoga. While the press release that initiated this event did not mention the Olympics, one can only assume.
Connections
As I skimmed through this article, the first thought that occured to me was that this marketing strategy to attract more customers is an infrequent event. While this event does not generate any profit at the time of the two weeks, it has great potential to earn more revenue in the future. Furthermore, since free workshops are not a significant part of Lululemon's regime, there is not much of a need for any segregated section in the financial statements because this event does not directly bring in profit compared to, for example, a sudden inheritance in land.Workshops like this have the ability to allow marketing directors at Lululemon to see what customers like and what to produce more of in order to increase their revenue even more in return.
Reflection
I thought this was a relatively creative idea to gain customers because individuals appear to have a natural tendency to attend occasions that are free. Despite the fact that not everyone will go, word of mouth will come into play and people who are willing to spend money on yoga wear will then proceed to Lululemon, especially since it is one of the biggest companies selling yoga apparel. I also applaud their decision to have this gathering during the Olympics where people from all around the globe will be in Canada and once they know of the company, they can choose to order the apparel in the future.
Betty ChanF. Acc12 D1-P2
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