Exam case financial accounting Essay Example for Free

Exam case financial accounting Essay Solutions to Exercises and Problems Tutorial 1 IFM Case 2-2 Case 2-2 SKD Limited 1.Goodwill There is no goodwill amortization expense in Country A, so the goodwill amortization expense recognized by SKD must be added back to determine income under Country A GAAP. SKD amortizes goodwill over a longer period (20 years) than is allowed in Country B (5 years), so an additional amount of goodwill amortization expense must be recognized to determine income under Country B GAAP, which reduces Country B GAAP income. b.The goodwill adjustment affects the retained earnings in stockholders’ equity. The increase in Country A GAAP income results in an increase in retained earnings and the decrease in Country B GAAP income results in a decrease in retained earnings. c.The adjustment to income is for the current year only. The adjustment to stockholders’ equity is cumulative. The fact that the stockholders’ equity adjustment is three times as larger as the income adjustment implies that the goodwill was purchased three year ago. 2.Capitalized Interest a.The adjustment labeled â€Å"Capitalized interest† relates to the interest that is not expensed but instead is capitalized under Country A GAAP. The adjustment labeled â€Å"Depreciation related to capitalized interest† relates to the depreciation of the interest that was capitalized as part of the cost of the asset. b.The first adjustment increases income because interest is not being expensed immediately but instead is capitalized as part of the cost of the asset to which it relates. The second adjustment decreases income because under Country A GAAP, the asset to which interest is capitalized has a larger cost and therefore a larger depreciation expense. c.Both income adjustments are closed out to retained earnings and partially offset one another. The increase to income of $50 and the decrease of $20 result in a net increase in retained earnings of $30. 3.Fixed Assets a.When fixed assets are revalued to a higher amount, there is an increase in their carrying value with an offsetting increase in stockholders’ equity to keep the balance sheet in balance. The amount by which the assets are revalued is subject to depreciation, which results in a larger depreciation expense. The adjustment to recognize this additional depreciation expense decreases income under Country B GAAP. It also decreases stockholders’ equity (retained earnings). The decrease in retained earnings from additional depreciation is smaller than the increase in stockholders’ equity from revaluation of assets, which results in a net increase in stockholders’ equity. Note: if we knew when the fixed assets were revalued, we could determine the amount by which they were revalued. For example, if revaluation occurred at the end of the previous year, then the revaluation amount must have been $64 ($64 – 8 = $56) because only one year of additional deprecat ion would be included in the stockholders’ equity adjustment. 27. Holzer Company – Property, Plant, and Equipment (capitalization of borrowing costs and measurement of asset subsequent to acquisition using two alternative models) IAS 16 Cost Model Carry asset on the balance sheet at cost less accumulated depreciation and any accumulated impairment losses. Capitalize borrowing costs borrowing costs attributable to the construction of qualifying assets. Annual interest ($900,000 x 10%)$90,000 Interest to be capitalized in Year 1 ($500,000* x 10%)50,000 Interest expense in Year 1$40,000 * Expenditures of $1,000,000 were made evenly throughout the year, so the average accumulated expenditures during the year are $500,000 ($1,000,000 / 2). Cost of building: Construction costs$1,000,000 Capitalized interest50,000 Total initial cost of building$1,050,000 Annual depreciation (beginning in Year 2) ($1,050,000 / 40 years) $26,250 Year 1Year 2Year 3Year 4Year 5 Income Statement Depreciation expense$0$26,250$26,250$26,250$26,250 Balance Sheet Building (at 1/1)$0$1,050,000$1,023,750$997,500$971,250 Depreciation(26,250)(26,250)(26,250)(26,250) Building (at 12/31)$1,050,000$1,023,750$997,500$971,250$945,000 IAS 16 Revaluation Model Carry asset on the balance sheet at revalued amount equal to fair value less any subsequent accumulated depreciation and any accumulated impairment losses. Capitalize borrowing costs attributable to the construction of qualifying assets. Annual interest ($900,000 x 10%)$90,000 Interest to be capitalized in Year 1 ($500,000 x 10%)50,000 Interest expense in Year 1$40,000 Cost of building: Construction costs$1,000,000 Capitalized interest50,000 Total initial cost of building$1,050,000 Annual depreciation (beginning in Year 2) ($1,050,000 / 40 years) $26,250 Year 1Year 2Year 3Year 4Year 5 Income Statement Depreciation expense$0$26,250$26,250$25,5262$25,526 Subtotal $0$26,250$26,250$25,526$25,526 Loss on revaluation27,500 Reversal of revaluation loss(27,500) Total expense (income)$0$26,250$43,750$25,526$(1,974) Balance Sheet Building (at 1/1)$0$1,050,000$1,023,750$970,000$944,474 Depreciation(26,250)(26,250)(25,526)(25,526) Building (at 12/31)$1,050,000$1,023,750$997,500$944,474$918,948 Loss on revaluation(27,500)1 Reversal of revaluation loss27,5003 Revaluation surplus 3,5523 Building (at 12/31)$1,050,000$1,023,750$970,000 $944,474$950,000 1At December 31,Year 3, the fair value of the building is determined to be $970,000. The carrying value of the building is decreased by $27,500, with a loss on revaluation recognized in Year 3 net income. 2 Depreciation in Year 4 is $25,526 ($970,000 / 38 remaining years). 3At December 31,Year 5, the fair value of the building is determined to be $950,000. The carrying value of the building is increased by $31,052. A reversal of revaluation loss of $27,500 is recognized in income and $3,552 ($31,052 – 27,500) is recorded as revaluation surplus in shareholders’ equity.

The Future Of Education Essay Example for Free

The Future Of Education Essay Students nowadays used to communicate with people because they are expecting the continuous connection of information. Against the way, they live their lives to put away their personal technology during a class session because there are a few reasons for student expect what they learn at school have the connection with the real world(Kelley, 2009). Besides that, the student can easily access the information by search from Google and a lot of relevant websites will recently produce. Students today grow up with gadgets and everything is on fingertips. That’s how technology conquers student mind and the way they think. This evolution of the study can lead to the generation of innovative students. Live in twenty-century era fully change the ways of working in all area of life. Modern technology hundred percent influenced the changes in education system. This revolution era needs a concrete development plan in education, but over time it must have some factor that will defect the plan which is can be a factor that limits of the contemporary role of education management. The educational institution that applied this new environment will be more modern and successful where people in there does not look like having a traditional way of teaching and learning such as only using the book as their available sources of knowledge.Innovative happen when the people have a creation of ideas, can do something that is outside of the box and keeps the task to be practice. Creativity and innovation are more important in the twenty-first century whereby the knowledge society has been developed so well(Mishra, 2014). One of the factors that people can reveal their creative and innovative skill i s by education. It shows because in education have a learning process where it is can help especially student to hit the road by showing what they have. The nature of online instruction does not allow an instructor to perceived important non-verbal cues that signal in order to be understanding. Other than that, a successful online student can be describe self-motivated, self-directed, exhibiting an internal locus of control with above average executive functioning, communication, interaction and technological skills(Kauffman, 2015). When new idea has been generated, created and developed it show that hat how the innovative behavior been described and the process of a student learning. According to research done by (Thurlings, Evers, and Vermeulen (2015) state that there are a few reason that lead to the changes of teacher behavior because form teaching it can affect the creation of innovative student. Firstly is keep up to date with a quickly changing especially with the community of people. This is because it will lead to demands in knowledge where in fact will increasing for both students and teacher. The next reason is upcoming ne w technologies and understanding of deep things about the teaching require. It is important because it will lead to have a creative idea by apply it with the connection of technologies. Third is the school itself need to show a good example and act which is as the starting point for more innovative behavior of people who is lawfully live a country so they can stay competitive. Education is extremely important in order to help student showing their ability in order to create interesting new things and creative ideas. All technologies are a group of people or devices that are made up of smaller parts of other technologies. That is how the change tries to get better and how they are built through combination and recombination. Some of those technologies in the assembly will be harder and more pre-decide, some softer and open to change by the end users. Softer technologies are those that combine humans in their design and putting into law, where allowing tools to be used in any ways(Anderson Dron, 2014). Social technologies are basically and mostly soft. Other than that, the application of social technology is unable to be separated from the processes, rules, normal behaviors and ways of doing things that are grouped together with them. The technologies provide opportunities and the users as a people, groups, and networks decide how the best use for selfish reasons.

Homeostasis And Goldfish Respiration Physical Education Essay

Homeostasis And Goldfish Respiration Physical Education Essay Every organism possesses a mechanism for maintaining homeostasis. Homeostasis is the ability of the body or a cell to seek and maintain a condition of equilibrium or stability within its internal environment when dealing with changes in the external environment. Regulation of temperature is most definitely the most important aspect of homeostasis. Fish are cold-blooded animals. Most fish cannot control their internal body temperatures. Most fish body temperatures change with the temperature of the water around them. In order to obtain temperature homeostasis, the fish seek colder or warmer water. They lose metabolic heat through their gills. There are different types of metabolic adaptations in fish. Temperature and blood pressure are two. Cold-blooded animals must regulate their body temperature by moving. Literary Discussion Homeostasis and the Respiration of Goldfish What is Homeostasis? Homeostasis is the ability of the body or a cell to seek and maintain a condition of equilibrium or stability within its internal environment when dealing with external changes (www.biology-online.org/dictionary/Homeostasis). The main function of homeostasis is to keep all the processes of the body stable even if there are variations in the weather and environment outside (http://www.buzzle.com/articles/what-is-homeostasis.html). Regulation of temperature is most definitely the most important aspect of homeostasis. Warm blooded animals are able to retain a more adjustable constant body temperature. In humans, homeostasis happens when the body regulates body temperature in an effort to maintain an internal temperature around 98.6 degrees Fahrenheit (http://www.biology-online.org/dictionary/Homeostasis). For instance, when it is hot outside your body sweats to cool off, and we shiver to warm up during the cold seasons. Unlike humans, most fish cannot control their internal body temperatures. Fish are cold-blooded creatures. Some fish have mechanisms to keep a healthy temperature. In order to obtain temperature homeostasis, the fish seek colder or warmer water. Certain types of fish such as tuna fish control their body temperature by a specialized heat exchange system of blood vessels. Most fish are poikilothermic which means their body temperature changes with the temperature of the water around them. For instance, if the top of a pond is frozen over, the fish swims to the bottom of the pond to try to stay at a comfortable temperature. All animals create heat from metabolic activity. Metabolic activity includes breaking down food and movement (http://www.ehow.com/facts_7433473_fish-homeostasis-different-water-temperatures.html). Animals such as fish lose metabolic heat through their gills. This happens because the heated blood that runs through vessels in the gills comes into close contact with the colder water outside, and all the heat is lo st. Many diseases are a result of disturbance of homeostasis. This condition is known as homeostatic imbalance. Every organism will lose efficiency in its control systems as it ages. Homeostatic imbalance is responsible for the physical changes associated with aging along with the internal environment. Inefficiencies gradually increase the risk for illness because of the unstable internal environment. It has been seen where alleged negative feedback mechanisms become overwhelmed and destructive positive feedback mechanisms then take over. Negative feedback is mainly how homeostasis is maintained, and positive feedback includes processes like blood clotting (http://www.biology-online.org/biology-forum/about2004.html). In maintaining homeostasis, the kidneys, liver, and brain are the organs in which play an important role. The kidneys are responsible for controlling blood water level, and regulation of salt and ion content in the blood. The liver performs the function of stabilizing carbohydrate metabolism and metabolizing toxic substances (http://www.buzzle.com/articles/what-is-homeostasis.htm.l) Whereas, the brain helps in controlling the autonomic nervous system and the endocrine system. Dehydration, hypertension, diabetes, hypoglycemia, etc are major homeostatic imbalance health problems. Homeostasis is extremely important for proper functioning of all human body systems. Enzymes even need a specific constant temperature to work at their optimum level. At higher temperatures, the enzymes will stop working. Homeostasis occurs to all humans, animals, and plants and is needed for us to stay healthy and alive. There are different types of metabolic adaptations in fish. Temperature and blood pressure are two examples. Body temperature for a fish mainly depends on the temperature of the water that the fish is in. This is the same for a fish in a tank, lake, pond, river, ocean, etc. A fish body adjusts to the temperature where the fish will be comfortable in the water. Cold-blooded animals cannot generate their own body heat; they must regulate their body temperature by moving. Absorptive and post absorptive are two metabolic states. Digestion, strength, respiration, salt and water balance, and heart rate are also included in this category. Glycolysis is an anaerobic metabolic pathway. Homeostasis in fish as well as in humans adjusts when the environment that it is in adjusts. If a fish is swimming in polluted water, the water is going to affect the fish. Its going to affect the fishs vision, the fishs breathing, and many other things. Just like polluted air causes humans to get a disease or any other illness, a fish can get a disease or illness as well. The temperature will affect the pace of the fish similar to the temperature affecting the pace of humans. Homeostasis, in biological terms means that the body is maintaining internal equilibrium to adjust internally and physiologically, in response to the external environmental changes(http://www.buzzle.com/articles/what-is-homeostasis.html). The main function of homeostasis is to keep all the processes of the body stable even if there are variations in the weather and environment outside (http://www.buzzle.com/articles/what-is-homeostasis.html). Regulation of temperature is most definitely the most important aspect of homeostasis. Vocabulary Effectors-are muscles or glands which work in response to the stimulus received from the motor nerves(http://www.tutorvista.com/content/biology/biology-ii/control-and-coordination/receptors-and-effectors.php). Receptors-are structures at the ends of the nerve fibers that collect the information to be conducted by the nerves (http://www.tutorvista.com/content/biology/biology-ii/control-and-coordination/receptors-and-effectors.php). Nares (Nostrils)-the nasal passages (http://dictionary.reference.com/browse/nares). Mouth-the opening in which an animal or human takes in food, liquid, oxygen, etc. (http://dictionary.reference.com/browse/mouth?s=t) Eyes- the organ of sight, in vertebrates typically one of a pair of spherical bodies contained in an orbit of the skull and in humans appearing externally as a dense, white, curved membrane, or sclera, surrounding a circular, colored portion, or iris, that is covered by a clear, curved membrane, or cornea, and in the center of which is an opening, or pupil, through which light passes to the retina.( http://dictionary.reference.com/browse/eyes?s=t) Operculum-the gill cover; a part or organ serving as a lid or cover, as a covering flap on a seed vessel. (http://dictionary.reference.com/browse/operculum?s=t) Lateral Line-the line, or system of lines, of sensory structures along the head and sides of fishes, by which the animal is believed to detect water current and pressure changes and vibrations. (http://dictionary.reference.com/browse/late-ral+line?s=t) Soft Dorsal Fins-the fin or finlike integumentary expansion generally developed on the back of aquatic vertebrates.( http://www.earthlife.net/fish/fins.html) Pectoral Fins-(in fishes) either of a pair of fins usually situated behind the head, one on each side, and corresponding to the forelimbs of higher vertebrates.( http://www.earthlife.net/fish/fins.html) Pelvic Fins-(in fishes) either of a pair of fins on the lower surface of the body, corresponding to the hind limbs of a land vertebrate; ventral fin.( http://www.earthlife.net/fish/fins.html) Gills-the respiratory organ of aquatic animals, as fish, that breathe oxygen dissolved in water.( http://dictionary.reference.com/browse/gills?s=t) Scales-one of the hard, bony or dentinal plates, either flat or denticulate, forming the covering of certain other animals, as fishes.( http://dictionary.reference.com/browse/scales?s=t) Vent-the anal or excretory opening of animals, especially of those below mammals, as birds and reptiles.( http://dictionary.reference.com/browse/vent?o=100074) Peduncle-a stalk or stem; a stalk like part or structure.( http://dictionary.reference.com/browse/peduncle?s=t) Anal Fin- the median, unpaired fin on the ventral margin between the anus and the caudal fin in fishes.( http://dictionary.reference.com/browse/anal+fin?s=t) Two-Chambered Heart-including one atrium and one ventricle.( http://en.wikipedia.org/wiki/Atrium_(heart) Jaws- either of two bones, the mandible or maxilla, forming the framework of the mouth.( http://dictionary.reference.com/browse/jaws?s=ts) Equilibrium-a state of rest or balance due to the equal action of opposing forces. Vertebrates- are animals that have a spine or backbones.( http://dictionary.reference.com/browse/equilibrium?s=t) Cold-blooded- designating or pertaining to animals, as fishes and reptiles, whose blood temperature ranges from the freezing point upward, in accordance with the temperature of the surrounding medium.( http://dictionary.reference.com/browse/cold-blooded?s=t) Ventilation-combination of movement of operculum and the floor of the mouth.( http://www.biology-resources.com/fish-01.html) Question, Hypothesis, Materials, and Procedure Question: Do various temperatures of water effect the way a fish breathe? Hypothesis- Cold water: Cold water will affect the way a fish breathe. A fish will take deeper, slower, and less breathes. Room Temperature Water: The amount of breaths a fish breathes will be normal. Hot water: Hot water will cause the fish to taker deeper breaths that are faster. Fish will inhale and exhale more breathes in hot water. Materials- Two fish Small sized container/fish tank Hot water Cold water Room temperature water Notebook/paper Pen/pencil Thermometer timer Procedure- First, set aside a bowl of water to get it to be room temperature. While that sits, create a table with three rows and eight columns. Label the first row experimental sample. Label the next two rows fish one and fish two. Label the columns room temperature, number of breaths, cold water temperature, breaths, hot water temperature, and breaths. Then, get extremely cold water and pour it into the container/fish bowl. Take the first fish and put it in the container with the cold water. Take the thermometer and put it in the bowl of water; wait till the meter stops moving. Record the temperature of the water. Next, set your timer to sixty seconds. Start the timer and count how many breaths the fish takes until the timer goes off. Record the time. Take the fish and thermometer out of the water and pour the water out. Pour the hot water into the container/fish tank and put the previous fish back into the container. Take the thermometer and sit it in the bowl until the meter stops. Record the temperature. Like before, set the timer to sixty seconds and count how many breaths the fish takes in that time. Record your results. After that, take the fish out along with the thermometer. Empty the container of the water. By this time the water that was set aside should be room temperature. Take that water and empty it into the container/fish tank and put the previous fish and thermometer in the bowl. Record the temperature of the water. Set the timer and count the breaths taken again. Record your results before taking the fish and thermometer out. Pour out the water. Repeat this process with the other fish and new water. Bar Graph and Frequency Table Experimental Sample Room Temperature Number of Breaths Warm Temperature Number of Breaths Cold Temperature Number of Breaths Time Fish #1 22Â ° C 89 27Â ° C 91 25Â ° C 59 60 sec Fish #2 23Â ° C 84 27Â ° C 69 25Â ° C 66 60 sec What is a fish? What is the mechanism in which fish breathe in water? A fish is any cold-blooded vertebrate animal that lives in water (http://www.myuniversalfacts.com/2006/03/how-do-fish-breathe.html). Fish live in nearly any water habitat and can be found in many different varieties of climatic conditions from near-freezing Arctic waters to the hot desert springs. Animals that live on land have a different respiratory system from aquatic animals such as fish. A fish is capable of breathing under water without taking frequent trips to the surface to breathe air unlike a whale which is a marine animal. This is because fish have gills. It is a process to fish breathing. First, water in the fishs surrounding enters its mouth. Water enters the mouth by the operculum and a very effective pumping system that involves the mouth. As a fish pumps water through the gills it opens and closes its mouth. Water is drawn into the mouth after the fish opens its mouth and the operculum closes. After water enters the fishs mouth it passes through a structure. This structure is called gill rakers. The gill rakers act as a filter system by straining out particles such as food or any other foreign particles that may have entered the mouth from the inflow of water. Next, the filtered water travels through the gill arches hence passing over the gills. Projected out into the water flow allows water to flow across the lamellae are gill filaments. Resulting, oxygen and carbon dioxide are exchanged directly across the capillary membrane. As water flows through the gills, the dissolved oxygen passes into blood circulating through the gill structures. The gill structures include the filaments and lamellae. Simultaneously, carbon dioxide which is the waste product, in the fishs bloodstream passes into the water. It is then carried away and out of the body through the operculum. This is the process by which fish breathe also know as respiration. Resources and References http://www.biology-resources.com/fish-01.html http://en.wikipedia.org/wiki/Fish http://www.myuniversalfacts.com/2006/03/how-do-fish-breathe.html http://teachers.guardian.co.uk/Guardian_RootRepository/Saras/ContentPackaging/UploadRepository/learnpremium/Lesson/learnpremium/scienc~00/post16~00/biology/exchan~00/gaseou~01/gaseou~01/breath~00/default.htm http://www.tutorvista.com/content/biology/biology-ii/control-and-coordination/receptors-and-effectors.php http://encyclopedia2.thefreedictionary.com/Two+chambered+heart http://www.dictionary.com http://en.wikipedia.org/wiki/Atrium_(heart http://www.earthlife.net/fish/fins.html

The First Amendment: Free Of Expression :: essays research papers

The First Amendment: Free of Expression In 1787 our forefathers ratified the constitution of the United States of America, which contains the most important document to any American citizen, the Bill of Rights. The first amendment of the Bill of Rights states: Congress shall make no law respecting an establishment of religion, or prohibiting the establishment thereof; or abridging the freedom of speech; or of the press; or the right of the people peaceably to assemble, and to petition the government for a redress of grievances. these freedoms (commonly called the freedom of expression) are of the most important rights in a truly democratic society. Without them there would be no new ideas; we would all conform under totalitarian rule for fear of punishment. However, when I, a common student at West Rowan High School try to express my feelings on "the state of the Bill of Rights in schools today" by making a computer presentation in multimedia class, my work is declared "bad" and my teacher and assistant principal do one of the most un-American things imaginable: they censored it. I had to re-make the presentation and lighten the harsh tone, and also erase the anarchy symbol from it. The teacher said that she was worried about me for reasons such as my feelings on the freedom of religion were almost satanic, because I said teachers should not be able to publicly practice religion in schools because it will encourage students to become a part of that religion. The presentation was neither slanderous nor obscene, but it did criticize teachers and administrators calling them "fascist dictators". At first I was angry at the school because I could wear clothing that was obscene or contained liquor advertisements, now they have completely taken away my freedom of speech. This of course proved my argument that teachers and administrators are totalitarians. As one journalist put it, "If Freedom of expression becomes merely an empty slogan in the minds of enough children, it will be dead by the time we are adults." I soon began reading more and more about the freedom of speech in schools and every time a subject as such came up the Supreme Court ruled in favor of the student declaring the action unconstitutional under the first amendment. As I was reading Nat Hentoff's book The First Freedom I came across a story in which a student wrote a newspaper article criticizing the school administration, soon after he ran for student government and was taken off the ballot for his critique. Unfortunately he did not fight it in court. The principal sharply taught the

Childhood Mortality in Nineteenth-Century England :: European Europe History

Childhood Mortality in Nineteenth-Century England The issue of childhood mortality is written into the works of Gaskell and Dickens with alarming regularity. In Mary Barton, Alice tells Mary and Margaret that before Will was orphaned, his family had buried his six siblings. There is also the death of the Wilson twins, as well as Tom Barton's early death --an event which inspires his father John to fight for labor rights because he's certain his son would have survived if he'd had better food. In Oliver Twist, Dick's early death is typical of workhouse children who never recover from years of chronic malnutrition. And in Dombey and Son, Paul demonstrates that wealth does not guarantee longevity, as we watch him steadily weakened by some mysterious illness. Evidence is everywhere that Gaskell, Dickens, and many of their contemporaries, used fiction to chronicle a sad fact of l9th century life: Many children didn't live to become adults. At the Newell Historical Burial ground in Attleboro, the stone marking the graves of the Stanley family indicates that three children were either stillborn or died before their first birthdays. If there were any other children who survived childhood, they were probably daughters who were buried in their husbands' family plots. A typical grave from the mid-19th century is a husband's stone flanked by two or even three wives each but the last having died in her 20s or 30s. Certainly many of these women died in childbirth, because their death dates match the birth dates on the children's stones. Several children might be named after the father. In one family plot with eight children, three were named John because only the third one survived the first year. ApE time when the death of a toddler was as normal as this practice was quite common in both America and England. While all of Dombey's money couldn't save his son from dying, little Paul's diet, lifestyle, and medical attention gave him every advantage available. The relationship between poverty and childhood mortality is unmistakable. In Boston's Irish Catholic slums, Lemuel Shattuck found that between 1841 and 1845, 61% of the population died before the age of five. (Woodham-Smith, p. 252) Poor English children didn't fare any particularly in the manufacturing towns of London, Sheffield, Leocester, Manchester, and Liverpool. Statistics from the Sheffield General Infirmary' between 1837 and 1842 reveal that of 11,944 deaths, half were children under age five:

David Comparision Essays -- Essays Papers

David Comparision Today, just as Homo erectus did eons ago, modern man strives for expression through art. The evolutionary paths of man and art parallel one another; in that, the complexities, which have accompanied the millenniums, also have brought exponentially progressed forms of art. Sculpture is an art form that maintains a high quality of expression. Two examples of this are the Davids done by Michelangelo and Bernini. Michelangelo’s David and Bernini’s David represent their different time periods and artists while remaining similar. Michelangelo was born in 1475 near Florence. At an early age Michelangelo’s interest in art eclipsed that of his studies, and so he began apprenticing at 13 in lieu of regular school. His time under Lorenzo de Medici was the most influential in his young life; this is where he came in contact with Hellenistic nudes, began with anatomy and embedded his humanitarian views. Michelangelo went to Rome at twenty-one and sculpted the Pieta, which made him famous (Coughlan 85-91). In 1501, in which time, he began the monumental task of carving David from a huge block of marble, Florence was experiencing political turmoil. The central meaning of the piece was to symbolize the greatness of Michelangelo’s proud city. He depicts David before the battle with Goliath as he thought Florence was only just beginning to fight and to remind the people of their duty to defend it (Shaked 1). David is portrayed nude, asymmetrical and in cont...

Marketing at vanguard Essay

Vanguard prides itself on providing low cost and high value to the customer and it is Vanguard’s core competency. However, Vanguard’s world changed when in mid-2003, Vanguard’s niche market was invaded by commercial banks, investment banks and insurance companies due to deregulation in the financial services industry. Vanguard took advantage of the Internet technology for customer transactions and other innovations to offer no load funds to the investors. Vanguard successfully employed Six Sigma methodologies in order to continue to offer high value at the lowest cost to the customer. Some of the threats that could endanger Vanguard’s prosperity or survival in the future include excessive customer segmentation where the varied offerings available confuse the customer and the investment brackets are not particularly transparent. Vanguard could encounter a significantly challenging situation if it is inadequately prepared to compete with the influx of firms in the industry. At the present time, Vanguard does not have  a clear marketing strategy that fits in well with overall vision of the company. For example, Vanguard is uncertain where sales and marketing efforts fit in the corporate dashboard. The dashboard is a communications tool that offers an overall view of the condition and performance of the company in key indicators or drivers for success. Management was constantly provided with the dashboard and updates at board meetings. Thus, Vanguard efficiently used this tool to organize its marketing and sales efforts in support of the overall strategic objectives. Vanguard has to take proactive steps in order to guard against unusual declines in stock market indexes. In addition to insulating their margins and maintain their market presence during times of economic downturn, they have to ensure that continue to deliver superior customer service than their competitors. For example, client satisfaction is above expectation during boom years. However, customer satisfaction is intertwined with market performance. Vanguard should continue to educate the customer of staying the course and emphasizing the advantages of long-term investment strategies. Analysis Vanguard is torn between staying the course and going the investment company route where it can provide a whole array of products and services to everyone similar to one-stop shopping rather than focusing of customer segmentation. There is a tradeoff identified in the SWOT analysis where offering the customer the lowest cost cannot successfully co-exist with high value at Vanguard. Vanguard can only offer the customer with the low cost, as it is not expending many resources in its marketing efforts. Vanguard has the option of pursuing international expansion at this time. However, it has not developed a concrete strategy on how to compete in the United States in times of economic downturn as well as in face of increased competition. If Vanguard expands overseas, it is not expected to perform well as these competencies are absent in its overall strategy. How can Vanguard be expected to compete in face of other challenges such as  institutional and regulatory hurdles as well as smaller populations overseas? Marketing segmentation was a competency that has worked for Vanguard in the past. However, customers may resent excessive categorization based on perceived investing habits or income extrapolations by Vanguard. The customers may view ‘Vanguard’ as a Big Brother who pries into his or her personal lifestyle by monitoring their investment trends and then tailoring an investment plan for them with those assumptions. If you examine the potential target market sizing, the United States presents a wide array of opportunities with its varied ethnic groups. Companies such as Metlife and Citibank have done well by tapping into those markets and creating an investment niche. Rather than market segmentation based on investment habits, age or income; it may be advantageous for Vanguard to pursue these markets after conducting market tests or investment studies. Even if Vanguard decided to ‘aggressively’ target certain niche targets in its sales and marketing campaign, the potential dividends reaped from doing so are far expected to outweigh the costs as it currently spends about 20 cents out of every $10,000 invested to drum up new business which is well below industry norms. Certainly newspaper advertisements as those presented in Exhibits 7 and 8 in ethnic newspapers and print media should not become a financial setback to the company and eat up a significant portion of the sales and marketing budget. Vanguard has prided itself for innovation and dedication to continual improvement in the financial arena. Perhaps, Vanguard can benefit from its sales and marketing efforts if it is dedicated to ensure development and maturity of the program. One solution toward this goal is to brainstorm a clear vision and mission statement as to what the long-term aims and objectives of the sales and marketing program are and how will they complement the overall strategic objectives of the company as a whole, not just the four individual business units. Recommendations The dashboard at Vanguard is a critical tool to evaluate and assess performance. Vanguard should move ahead and incorporate reliable sales and marketing growth data into the dashboard metrics in order to ensure that marketing is presented as an avenue to support the achievement of goals in the various businesses. Vanguard would greatly benefit from partnering with brokers in order to garner a better share of the clients’ holdings from other financial institutions. It should consider investment in increased customer awareness and education in order to so. In terms of advertising, Vanguard should institute a customer referral program that encourages existing customers to actively voice their loyalty and satisfaction with the service they have received to prospective clients. Tasteful and creative advertising and marketing efforts that reaffirm Vanguard’s core beliefs of ‘staying the course’ and themes of long-term investment should be implemented. Prospective Vanguard customers are usually lured in by the highest money market account interest rates offered and not by fancy commercials or elaborate marketing efforts. Vanguard should not consider international expansion at this time as part of its growth strategy at this point in time. It should focus primarily on the Unites States where even a single digit market share gain and translate into significant revenues.