Assume your selected agency is expecting a 25 percent increase in citizens needing services. Unfortunately, the governor has reduced your overall budget for the current year by 30 percent. Discuss 1 or 2 creative ways the agency can raise money to offset the budget cuts. Justify your response with 1 or 2 examples.
Codification to Research a Complex Accounting Issue: The Case of Goodwill Impairment at Jackson Enterprises
Note: The two-step impairment test was US GAAP at December 31, 2014, which is the key date for this case study. The FASB has since issued Accounting Standards Update (ASU) 2017-04, which eliminate Step 2 of the impairment test. However, for answer the requirements of this case study below, please perform the two-step impairment text which was US GAAP at December 31, 2014. For your information, today, the quantitative impairment test now includes only one step, which is the comparison of the carrying value to the fair market value of the reporting unit, with the difference representing the recognized goodwill impairment. While the quantitative aspect of the test has changed under ASU 2017-04, the FASB did not remove the preliminary, qualitative assessment option to determine the appropriateness of the quantitative test.
Read the Case of Goodwill Impairment at Jackson Enterprises attached below. After reading the case study, answer the questions provided.
Financial reporting personnel at Jackson Enterprises (JE) are in the process of completing year-end activities, including necessary adjusting of entries to the consolidated financial statements. While JE has not previously believed it necessary to adjust its recognized goodwill from the Dynamic and ZD acquisitions, the valuation of goodwill is, nonetheless, a prominent concern in the closing process. Assume you are asked to research the financial statement issues surrounding the goodwill recorded for the Dynamic and ZD subsidiaries.
Prepare a paper to address the questions below. In memorandum format, detail the issues involved, the judgements you made based on authoritative literature, and your recommendations for the direction of the goodwill valuation as it relates to Dynamic and ZA. In other words, does the evidence suggest further action is required in determining the appropriate valuation of good will? If so, what steps need to be taken?
Note: Remember that textbooks are not considered authoritative guidance in accounting research.
1. The primary issue in the case is the determination of whether there is potential impairment of goodwill based on a qualitative assessment (Step 0) and a quantitative assessment (Step 1 of the two-step impairment test).
2. Note that ASC 350-20-35-3E states the following: If, after assessing the totality of events or circumstances (qualitative assessment) such as those described in 350- 20-35-3C(a) through (g), an entity determines that it is more likely than not that the fair value of a reporting unit is less than its carrying amount (book value of net assets), then the entity shall perform the first step of the two-step goodwill impairment test.
3. You need to perform the qualitative assessment to determine if there is potential impairment. Which factors should be considered (cite the relevant ASC) in the qualitative assessment?
4. For the quantitative assessment (Step 1), you need to decide which valuation (market capitalization or appraised value) for Dynamic and ZD is most appropriate to use together with the qualitative factors in developing conclusions about potential impairment. Note that the carrying value (book value of net assets) for each subsidiary can be determined from the condensed summary of balance sheet information provided in the case.
3. You need not calculate Step 2 (including implied fair value of goodwill) of the impairment test. Note that the case does not provide the information necessary for the calculation of implied goodwill.
4. For the quantitative assessment (Step 1 of impairment test), you need to determine whether the analysis of carrying value vs. fair value of reporting unit should be performed at the level of the entire operating segment (i.e., the semiconductor segment) or a component of a segment (i.e., each individual subsidiary). Note that the reporting unit could be an entire operating segment (i.e., the semiconductor segment) or a component of a segment (i.e., each individual subsidiary).
5. Note that according to ASC 350-20-35-35, “two or more components of an operating segment shall be aggregated and deemed a single reporting unit if the components have similar economic characteristics.” It is thus important to determine if Dynamic and ZD have similar economic characteristics and can be aggregated and deemed a single reporting unit.
6. Note that a goodwill value may not be appropriate if the qualitative and quantitative assessment indicate there is potential impairment. In that case, goodwill impairment loss is calculated in Step 2 of the impairment test. However, if the qualitative and quantitative assessment indicate there is no potential impairment, the goodwill value is appropriate, and there is no need to proceed to Step 2.
Briefly research career opportunities that require knowledge or experience with managerial accounting. List at least two potential positions (including a link to the job posting or job description) that you personally found to be interesting or surprising, and explain why they were noteworthy to you.
3. Select a topic that you might pursue for your final project in this class. Then:
a) Assert a hypothesis. Write a paragraph explaining the reasoning of that hypothesis.
b) How might you measure the IV? How might you measure the DV? For each, provide a precise operationalization and its associated level of measurement.
c) Based on that configuration of variables and measures, what statistical test would be appropriate for a bivariate hypothesis test?
Interview someone in your family (preferably a grandparent or someone older) or someone who is important to you. Ask them a range of questions, asking them about their family history and their personal stories and about Great Depression, New Deal, and Impending War, 1929-1939 . After your interview, write a paper placing your family story or a particular story in its historical context.
When pediatric clients present with mood disorders, the process of assessing, diagnosing, and treating them can be quite complex. Children not only present with different signs and symptoms than adult clients with the same disorders, but they also metabolize medications much differently. As a result, psychiatric mental health nurse practitioners must exercise caution when prescribing psychotropic medications to these clients. For this Assignment, as you examine the client case study in this week’s Learning Resources, consider how you might assess and treat pediatric clients presenting with mood disorders.
Note: This Assignment is the first of 10 assignments that are based on interactive client case studies. For these assignments, you will be required to make decisions about how to assess and treat clients. Each of your decisions will have a consequence. Some consequences will be insignificant, and others may be life altering. You are not expected to make the “right” decision every time; in fact, some scenarios may not have a “right” decision. You are, however, expected to learn from each decision you make and demonstrate the ability to weigh risks versus benefits to prescribe appropriate treatments for clients.
To prepare for this Assignment:
Review this week’s Learning Resources. Consider how to assess and treat pediatric clients requiring antidepressant therapy.
Discuss a current challenge/issue facing an organization having to do with diversity, cultural intelligence, inclusion or otherness. You will want to state the situation, how what we have been learning about in class applies to the situation, and based upon what you are learning in this class, what would you recommend to the leaders of the organization to rectify the situation.
During the last several weeks, we have been reviewing and analyzing theories, ideas & concepts, and their application to organizational issues surrounding leadership in diverse and multicultural organizations.
Focus on an organization that has been in the headlines during the time you have been enrolled in OLCU 425 (8 week term).
Address the following (this organization should meet two (2) or more of the below criteria in order for you to respond and offer your initial post in this forum):
You have been invited to address a Joint Meeting of the United States Congress at the Capitol Building in Washington D.C. All 100 US Senators and 435 US Representatives will be in attendance. Write your speech.
a modo de presentación escriba un ensayo de 2 páginas en la que exprese quién es usted cómo profesional y alumno y que esperas de la clase. Consideras la utilidad de la misma tanto para alcanzar el éxito en el ámbito académico como profesional. Elabore todo su pensamiento en oraciones completas. Voy a evaluar ortografía grama puntuación y signos.
If you were cast out to live the remainder of your life on a deserted island, and you could take three things, what would they be?
The preceding question most likely triggered a flurry of thinking as you began using reasoning to make sense of the situation. Perhaps you first considered food, but then thought of tools. Through reasoning you began to expand your range of possible choices. Reasoning guides the path to problem solving, and it can inhibit as well as expand the solution possibilities.
Examine the types of reasoning discussed in this week’s Learning Resources. These include deductive, inductive, abductive, reductive, and analogous reasoning. Consider how you may use reasoning to create a problem statement, hypothesis, and potential solutions.
The Week 3 Assignment Handout (see the Learning Resources) contains a list of links to research studies and papers located in the Walden Library which have problem solving as their foundation.
Select one of the research papers related to your major at Walden or to a field of your interest. As you read the article you selected, consider the type(s) of reasoning used in the article. Your analysis of the reasoning is the foundation for the paper you write for this Assignment.
Credit for graphic: McVey, J. (Photographer). (1971, 06 ). Helen’s Reef – a classic desert island – elevation above sea level about 8 feet [Print photo]. Retrieved from http://www.photolib.noaa.gov/htmls/mvey0047.htm
