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January 20, 2009

I thought it was an interesting class today.

I didn’t spend any more time today on the review of financial statements.  You should be spending time making sure you have all the financial statement equations memorized.  Also, you should be learning the direct form of presenting cash flows from operating activities.

I reminded the class that by Thursday, Jan. 30, you should read a seven part series on IFRS listed on my blog, as well as reading the SEC proposed roadmap for transitioning to IFRS.  We will be talking about it in class on that day.

I presented a lsit of all items on the right side of the balance sheet.  It represents what is called the capital strucure of the company.  Basically, the capital structure of a company where the money comes from for having purchased the resources available to the company.  The money comes either from having borrowed it (with a few exceptions) or from owner contributions.

Current Liabilities

Accounts & other payables
Accruals (usually for employees)
Services or products owed
Current maturities of long term debt
Total current liabilities

Non-current liabilities

Notes Payable (this is non-current portion only)
Bonds payable (this is non-current portion only)
Services or products owed
Pension liabilities
Preferred stock

*** Note, contingent liabilities frequently exist, but unreported on

*** Note, there is no total for either non-current liabilities or for total liabilities.

Stockholders equity

Contributed capital (common stock + additional paid in capital)
Retained earnings
Accumulated items of other comprehensive income
Treasury stock
Total stockholders equity

Then, I talked about the accounting for contingent liabilities, then we talked about chapter 13, exercise 13.  The discussion could have been unsettling, as there was no “right” answer to report, just a number that is at least $900,000.  The discussion was intended to highlight the current state of affairs where the correct number is not always an accountant’s call.  Ultimately, the number reported is decided by corporate executives after consultation with accountants and lawyers.  This is just the way it is.

This leads, possibly, to circumstances where executives wish to report complete fiction. Reporting fiction is called fraud, and can result in jail time.  Don’t do it.  I recommend always keeping six months of take home pay in the bank, and then resign immediately if an executive insists on “fraud.”

Most situations, however, range somwhere between complete fiction and absolute truth.  It’s a gray area where we say judgment abounds.  Actually, its an area where personal preference abounds.  A corporate executive may prefer a more liberal number and you might prefer a more conservative number.  Personal preferences are not related to moral issues.  You might have to go along with someone else’s personal preference.  If you repeatedly disagree with an employer’s personal preferences, then you might want to get back in the job market and search for a better fit.

159 thoughts on “January 20, 2009

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According to Four51 Founder Gary Nemcek, “ Connect Four51 is really a strategy to allow website visitors to join the Four51 network beyond whatever we did from the past. We help people build their unique private commerce network, typically a vendor who invites suppliers to participate in.” As section of Connect Four51, the organization will conduct specific marketing activities to sellers to permit them know concerning the network and it is capabilities to make sure they can better serve their customer customers. Four51 technology currently enables Web-to-print for Sir Speedy, PIP, AlphaGraphics and WorkflowOne, amongst others, featuring its standard offering, and it might be logical these particular suppliers would consider joining the brand new initiative also. To date, these initiatives have largely been printer-centric; that’s, the main objective on the activity continues to be printers sharing work together with one another or sellers of print (brokers/distributors/trade printers) sourcing suppliers with regards to enterprise customers. Jeff Hayzlett, CMO for Kodak’s Graphic Communications Group, envisions the Kodak MarketMover Network on the grander scale. He says, “We get numerous requests from marketers who may have large print budgets demanding access to some network of Kodak digital press owners, and prior for this announcement, basically we could, needless to say, refer buyers to suppliers, we’d no automated approach to handle these requests. MarketMover Network will address that requirement. Additionally, Kodak may play an aggressive evangelist role in educating marketers within the important things about digital printing as well as the lots of capabilities available from the network. At exactly the same time, by linking NexPress owners worldwide into some private networks enabled because of the Four51 platform, we are going to be developing a community of clients that may ultimately drive significant volume to NexPress owners.” Kodak will provide Professional Services to tailor private networks to individual needs, including integration with existing Web-to-Print workflow on paper company side, and enterprise applications about the buy side. Hayzlett highlights that even though the initial demonstration of MarketMover Network is geared towards NexPress owners within the United States and Canada as suppliers of print, Kodak ultimately intends to extend the means globally to all or any those who own Kodak solutions, including Prinergy users. Currently, all Kodak customers inside United States and Canada may use the network if these are looking to get a supplier of NexPress printing to reinforce their customer services. Industry veteran Karl Post, formerly of Franchise Services and EFI, is brought fully briefed to handle this software. Hayzlett reports that the variety of printers and demand aggregators have previously joined the network, including WorkflowOne, Corporate Press, Williamson Press, Lake County Press while others. He adds, “The MarketMover Network is really a key portion of our business development activities geared towards helping Kodak customers aggressively grow their businesses. Once consumers are connected, pricing along with other arrangements are handled between your parties.” Four51’s Nemcek commented, “The MarketMover Network just isn’t a sale bidding site. It matches marketing managers and print buyers together with the best available resources for getting jobs printed wisely. It is going to be a robust new tool for marketers given that they may have use of quality printers with all the capabilities to manage nearly any kind of printing need.” Hayzlett concludes, “The Kodak MarketMover Network just isn’t just about providing alternate access for print providers to develop their print volumes, but about creating sure there is undoubtedly an advocate and message stream forwarded to marketers along with other buyers of print regarding how effective print could be as part of any multimedia business communications strategy. In that way, we know Kodak is going to be capable to make a large contribution for the industry, moving the marketplace to dramatically increase volumes of digital printing worldwide and making certain that print remains a crucial component of marketers’ business communications strategies.” Hayzlett serves about the boards of an quantity of marketing-oriented organizations and is usually a frequent speaker in marketing circles. In a demonstration with this strategy in the office, MarketMover Network was already released simultaneously at Graph Expo and also the Direct Marketing Association’s annual meeting in San Francisco, attended by thousands from the world’s most successful marketers. Stay tuned to get more Graph Expo coverage on Web-to-Print and digital workflow solutions. ,white christmas wrapping paper wholesale wrapping paper
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  35. MichaelDew
    4:50 pm - 10-16-2016

    Print Service Providers: Redefining Business Blueprints Box Printing print solutions June 12, ,Letters to ODJ: More Brain Tennis
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  36. PeterDog
    6:25 pm - 10-16-2016

    Mimeo Acquires CLE; Expands to UK, CEO Adam Slutsky Comments packaging boxes Paper Gift The fact a franchisor would need to get resources to do this function speaks volumes regarding the redundancy that exists. He continues to say that within the past, when PrintImage International had discussed the wide ranging of merging with one with the larger associations, the membership overwhelmingly felt that “to be a part of the larger association, … rapid and small commercial printers could well be ‘lost’ and treated like a stepchild because of the large commercial businesses that dominate the decisions with the other associations.” ,Changes in Employment 1994-2008 in Various Packaging Sectors
    Fascinating also was the emphasis for the “Xs” – XML and XPS, both about the display floor within the “blue side” – which is, the AIIM exhibit hall – and inside the class offering ,cheap printing solutions print solutions
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  37. Marvinscaws
    9:30 pm - 10-16-2016

    Geez, I Did it Again! corrugated box manufacturers white christmas wrapping paper Recent research confirms that, among Europe, Canada, as well as the United States, workers are most mobile from the U.S., in which the average amount of job tenure for workers 25 and older is four years. Current rates for Canadian and European workers remain at the very least double that figure. But everywhere, specially in certain industries like IT and marketing, job hopping has be a little more commonplace–even essential for keeping with change–which is will no longer regarded—even by conservative industries–as universally bad. ,The Digital Production Color Market Is About To Change As New Challengers Throw Down the Gauntlet to Xerox
    Growth inside the Chinese market is anticipated for a fast rate. The company is beginning having a small base, since several machines are film. The market forecast for CTP rise in China just isn’t large and estimated at 158 units by 50 percent years. ,corrugated box manufacturers label printing
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  38. Marvinscaws
    1:05 am - 10-17-2016

    Hitting the Bulls-eye with Target Marketing office accessories custom gifts Another environmental aspect on the DI press is its waterless operation. Conventional offset printing presses use significant amounts of chemistry and water for that press dampening system. The dampening system uses fountain solution, which produce VOCs. Presstek’s DI waterless press design doesn’t employ a dampening system, which eliminates the advantages of both fountain solution and water. This ensures that dot gain is reduced, screen rulings of 300 lpi and FM (stochastic) screening can be produced, color is a bit more consistent as well as the challenge of managing ink/water balance issues are eliminated. In fact, recent testing determined that waterless printing alone reduces VOCs by 75 percent in comparison with conventional printing environments. In addition, there may be no water required to arrange the plates for printing, as required in offline platemaking. ,Image Test Labs: New Sheriff in Town for Grading Press Performance
    Other examples that Lazarus cited included Capri Sun , a foil pouch-based softdrink targeted toward 6–11-year-olds, a demographic and that is “the very center on the digital world.” A clever number of “Respect the Pouch” videos made the rounds virally via YouTube and inspired kids to produce their own videos. The campaign has since spawned a youtube video game to the Wii. ,modern office supplies children’s book publishers
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  39. PeterDog
    1:17 am - 10-17-2016

    Study Sees Underlying Strength inside U.S. Market for Flexography Box Printing Book Printing Compose, a developer of prepress workflow and digital color proofing solutions, including ExpressRIPa top rated solution that may be interfaced to over 200 different output devices, and delivers maximum speed and full workflow compatibility. ,Pricing Survey: Pricing of prepress services, color printing, wide format, production printing, color copies
    Another tip when considering your strengths: Think about them regarding competitors. For example, if every one of the competition provide top quality products, then this good quality production process will not be strength inside your organization’s market, it is a necessity. ,printing solutions printing in china
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  40. Marvinscaws
    5:19 am - 10-17-2016

    Valassis High on NCH Marketing Services: Q4 Earnings Call Summary christmas gift wrap boxes stationery supplies That’s the approach we’re taking inside the color arena, having a product set that addresses multiple numbers of color — along with multiple technologies and speed bands. ,RR Donnelley 鈥?Driving Forward in Inkjet Printing
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  41. PeterDog
    8:15 am - 10-17-2016

    Free Special: Day One at Xplor: Warming on the Task of Education Office Supplies cheap printing solutions An NFC tag is often a small passive device (no battery required) which has a smaller microchip mounted on a smaller loop antenna. When an NFC reader for example a cell phone scans the tag, it powers up and wirelessly transfers information for instance a Web address, text, or possibly a command with an app. The NFC tag could be locked therefore the data within the tag are not changed, or left unlocked and so the data might be changed all the time. NFC tags are usually printed stickers or plain stickers, nevertheless they is usually also enclosed inside a wide array of products, including key fobs, wristbands, and hangtags. Tags must be “programmed” or “encoded” by having an action or Web destination. For firms that would like to try obtaining assistance, some manufacturers will handle the programming although some focus on adding NFC encoding. ,A Strong Quarter, but Headcount Reductions Ahead: Presstek’s Q1 Earnings Call
    Kodak will concentrate on integrating the $1.2 0r $1.3 billion of contemporary acquisitions into its portfolio as an alternative to give attention to plans for further acquisitions. Officials did indicate the corporation will make an acquisition should the correct opportunity arise. ,Book Printing printing solutions
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  42. Marvinscaws
    11:03 am - 10-17-2016

    FREE Graph Expo Preview – Workflow/MIS/Print Management Systems custom labels office equipment 3. Metcalfe’s Law: Robert Metcalfe was the inventor with the Ethernet computer networking protocol. He suggested which the usefulness of the network was improved through the square from the amount of nodes for the network. The Internet has are more valuable fat loss people did start to utilize it. We are typical familiar while using exponential expansion of e-bay like a around the world marketing strategy. In digital print, it appears to be which the more individuals who use digital print, the wider the acceptance and also the higher the increase rate of brand new users. Since so few younger people read paper, we wonder if this type of trend might continue? ,FREE: GretagMacbeth and X-Rite Extend Color Control into New Territories
    Graphics in the Americas Takes On New Dimensions ,sticker printing packaging boxes
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  43. PeterDog
    5:08 pm - 10-17-2016

    The Printer’s Web Site: What Print Buyers Want packaging boxes Box Printing My third priority could be the continued roll-beyond FDSys to everyone of the stakeholders. ,Royal Farros, iPrint Technologies
    Last year, Mcor announced who’s had modified the Iris to become the first 3D printer to incorporate an ICC (International Color Consortium) profile: a software-based specification, universally found in conventional printing, that permits different imaging and printing devices to create color inside a standardized and consistent color space. With the help of the profile, says Mcor, the Iris can accurately reproduce color business sources with all the richness and intensity of display seen on computer screens. ,printing in china printing solutions
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  44. Marvinscaws
    7:29 pm - 10-17-2016

    Don McKenzie, President of Transcontinental Direct U.S.A., for the Acquisition of JDM Inc. stationery companies commercial office supplies Five Big Picture Trends to Consider while you Position Your Business for your Future ,Big Macs and the Post Office
    ‘The potential is very large: we’re certain that we could achieve almost 40% more throughput within the presses than we’re producing now. We have three colour presses running entirely production and we have been considering additional investments.’ ,custom printed shipping boxes wholesale office supplies
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  45. PeterDog
    9:21 pm - 10-17-2016

    Are You Using the Right Economic Benchmarks for Your Business? printing solutions print solutions Action Point 2: “Set thine house to be able.” ,Increased Digital Sales Drive Presstek to Record Revenue: Summary of Second Quarter 2006 Earnings Call
    Industry Trends Just a Click Away ,Paper Gift Book Printing
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  46. Marvinscaws
    12:39 am - 10-18-2016

    Seize the Data and stay Relevant! color print gift wrapping supplies Ricoh Makes Waves ,FREE: JDF Doesn’t Matter
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  47. PeterDog
    1:56 am - 10-18-2016

    Re-energized and Re-invented!: Brian Longe, President & CEO – A.B.Dick Label Printing Box Printing WTT: What is Xerox showing at Print 05? ,Feeling Stressed? Stress is stealthy, perplexing and may lead to greatness. If you handle it right.
    By WhatTheyThink Staff Published: June 16, 2006 ,Label Printing Paper Gift
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  48. PeterDog
    6:07 am - 10-18-2016

    Advanced Materials for Advanced Applications printing in china Box Printing “I am frequently in and away from shops that contain digital equipment,” Zwang laughed and said. “One from the things I have discovered in just about every shop I visit is the fact that neither the operators running the apparatus nor the plants themselves understand what they have to have, how you can put it to use, as well as limitations. It doesn’t matter which brand or model they have got, it appears which the training they receive just isn’t adequate to generate them truly proficient.” ,Part 1: Ripping the Band Aid off quickly: Gary Kusin, CEO, Kinko’s
    By WhatTheyThink Staff Published: October 2, 2001 ,Label Printing 锘?a href=”http://printing-in-china.net/”>printing services
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  49. Raymondneex
    6:30 am - 10-18-2016

    Water companies compete to win the first WaterAid Water Cycle Challenge water filter company best water softner manufacturers Steffen said future rainfall decreases of even 10% might have pretty serious implications for urban water supplies due towards the reduced flow of water into catchments. ,Water funds tempt investors with booming growth
    The future of Clive Palmer鈥檚 $6bn China First coalmine now rests on two separate environmental decisions through the federal minister Greg Hunt, because mining magnate prepares to wield his powerful four-senator balance of power voting bloc from next July. ,water softener system whole house water filter
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  50. Marvinscaws
    9:07 am - 10-18-2016

    Kodak Defends New Digital Print Strategy Despite Wall Street Resistance quality office supplies product boxes For sure, this may perhaps be the primary question that’s available regarding starting job costing. People are concerned that putting ‘too many costs’ in will skew the numbers in an unfavorable way. There will always be debates within companies of the true costs are and what ought to be included or excluded from the cost calculations. The nervous about having all overhead costs in as part in the cost calculation can be a justified concern of putting yourself in a very position to be ‘out-priced’ against the competition. However choosing to exclude costs can feel such as an exercise of smoke and mirrors. ,Running Toward Confusion is Good Advice
    Over well as over again, I hear graphic communications service providers declare that their reps can’t build relationships at the appropriate level. Their salespeople are stuck talking exclusively to procurement and print buyers who are dedicated to price. What executives expect is usually a discussion of how a salesperson’s products might help give you the achievement of desired results. They would like to use marketing carrier’s networks that understand their business drivers. That means focusing about the customer’s key metrics and how your product or service and service portfolio can assist them accelerate the perfect time to market for the awesome launch, decrease the valuation on establishing a qualified lead, or take benefit of an wave inside marketplace It encompasses the overall business results that this customer is attempting to attain, the strategies and initiatives they’re pursuing to attain cause real progress, and financial objectives. It includes the trends, challenges, and opportunities which might be transforming their marketplace. The overriding message is a fantastic consultative sales process isn’t enough to be successful anymore. Like One to One Gulfcoast, TAG Home Care, and Tier3 Advertising, you ought to develop something portfolio and selling strategy that demonstrates business acumen. ,personalized stickers carton box manufacturer
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