Accountancy Class Test Questions Free Essays

This examination paper must be returned. Candidates are not permitted to remove this paper from the examination room. STUDENT NUMBER†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ STUDENT’S NAME†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. We will write a custom essay sample on Accountancy Class Test Questions or any similar topic only for you Order Now . †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ First name Last name SIGNATURE†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ MACQUARIE UNIVERSITY Semester 2, 2010 IN-CLASS TEST NO 2 Unit: ACCG308 CORPORATE ACCOUNTING AND REPORTING Time allowed: Total number of questions: Instructions: 45 minutes ONE This is a closed book examination. You are not permitted to access any books, notes or other written materials. Silent calculators, nonprogrammable are allowed. Questions must be answered on the examination paper. Answer all parts of all questions. (Office Use Only – Do Not Write Here) Total /25 Question 1 (25 marks) On the 1 July 20X6 Howard Ltd gained control of Carter Ltd by buying 70% of its shares for $70,000. At this date, Carter had share capital $50,000 and retained profits $30,000. Additional information: ? Goodwill impairment is $500 in year ended 20X8 and $850 in 20X9. ? ? Dividends are paid out of current period profit. The dividends were paid before year-end. Inventory purchases by Howard from Carter during the current year amounted to $30,000. Their cost to Carter was $20,000. Howard still holds $18,000 of this inventory at year-end. Loan from Carter attracts 12% interest per annum. The interest was paid before year-end. Included in other assets of Howard is equipment purchased from Carter on the 1 July 20X7 for $41,000. The equipment was four years old when sold, had cost Carter $50,000 to buy, with expected residual value $5,000, and had been depreciated 10% p. a. straight-line. Howard depreciates the equipment (after deducting the same residual) straight-line over the remaining six-year life. ? ? Required: Complete the consolidation worksheet on the next page. Note: 1. Marks are awarded for each correct individual worksheet entry. 2. For the eliminations column only, entries that are placed in a location where there should not be any entry may attract a penalty mark. 2 Workings: Elimination 1: Substitution. Deletes 70% of subsidiary’s pre-control equity. Capital: 50 000 * 0. 7 = 35 000 Retained profits: 30 000 * 0. 7 = 21 000 Investment in subsidiary: 70 000 Goodwill: 14 000 Recognise goodwill impairment (prior and current years) Dr Goodwill impairment expense 850 Dr Retained profits 500 Cr Accumulated Goodwill impairment 1 350 Deletes intra-group dividend revenue and appropriation. 5 000 * 0. 7 = 10 500 Dr Dividend revenue 10 500 Cr Dividend 10 500 Deletes intra-group sales. Dr Sales Cr Cost of sales Elimination 2: Elimination 3: Elimination 4: 30 000 30 000 Elimination 5: Deletes profit on intra-group sale from inventory valuation (Current year). (18 000/30 000) * (30 000-10 000) Dr Cost of sales 6 000 Cr Inventory 6 000 Deletes i ntra-group loan Dr Loan from Carter Cr Loan to Howard Elimination 6: 50 000 50 000 Elimination 7: Deletes interest from intra-group loan Dr Interest revenue 6 000 Cr Interest expense 6 000 Deletes profit on intra-group sale of equipment and reinstates equipment carrying amount at sale date Dr Retained profits 9 000 Dr Equipment 9 000 Cr Accumulated depreciation 18 000 Add back inflated depreciation (2 years) of equipment arising from intragroup sale of equipment 6 000 – 4 500 = 1 500 p. a. Dr Accumulated depreciation 3 000 Cr Depreciation expense 1 500 Cr Retained profits 1 500 Elimination 8: Elimination 9: 3 NCI calculations: Net profit: 0. 3 * (18 000 – 6 000) = 3 600 – 6 000 = subtract profit on intra-group sale of inventory Retained profits: 0. 3 * (38 000 – 9 000) = 8 700 – 9 000 = subtract profit on intra-group sale of equipment Dividend: 0. 3 * 15 000 = 4 500 Capital: 0. 3 * 50 000 = 15 000 Parent interest = Group interest – NCI 4 Combined consolidation worksheet as at 30 June 20X9 Howard Carter Sum Eliminations Dr Cr 30 000 4 6 000 5/4 Group Allocation to NCI Parent Sales COGS Gross profit Other revenues Other expenses 94 000 57 000 ______ 37 000 17 000 22 000 ______ 32 000 26 600          ______ 58 600 27 000 31 600 90 000 121 600 50 000 12 000 30 000 ______ 213 600 45 000 70 000 – 98 600    ______ 213 600 2 000 176 000 36 000 93 000 ______ ______ 46 000 83 000 6 000 23 000 34 000 ______ 18 000 38 000 56 000 ______ 50 000 64 600 146 000 30 000 69 000 77 000 10 500 6 000 850 3 7 2 7 9 1 2 8 9 3 6 500 6 000 1 500 49 350 34 150 Net profit Opening retained profits 3 600 30 550 21 000 500 9 000 Profit available less Dividends Retained profits Capital Owners’ eq uity Loan from Carter Other liabilities Accum depreciation Accum goodwill impairment Total equities + liabilities ______ ______ 56 000 114 600 15 000 42 000 41 000 72 600 50 000 140 000 91 000 212 600 – 25 000 28 000 50 000 37 000 58 000 5 000 1 1 500 35 600 69 750 10 500 31 500 38 250 105 000 143 250 – 37 000 18 000 73 000 1 350 1 350 254 600 8 700 26 900 12 300 57 450 4 500 27 000 7 800 30 450 15 000 90 000 22 800 120 450 50 000 6 8 9 2 3 000 ______ ______ 144 000 357 600 26 000 – 50 000 71 000 70 000 50 000 Inventory Investment in Sub Loan to Howard Consolidation goodwill Other assets 5 1 6 1 8 6 000 65 000 70 000 – 50 000 – 14 000 175 600 ______ ______ 194 850 254 600 Total assets 14 000 68 000 166 600 9 000 ______ ______ ______ 144 000 357 600 194 850 5 How to cite Accountancy Class Test Questions, Papers

The Summer of the 17th Doll free essay sample

The Australian play, Summer of the Seventeenth Doll, set the foreground of a new chapter in Australian Theatre, and is still seen as an important factor in the context of its evolution. Written in the 1950s by Ray Lawler, it was a first for Australian theatre, and helped to eliminate the cultural cringe which had held Australian theatre back from its full potential. Summer of the Seventeenth Doll, also known as The Doll, presented to the public, a truly Australian play written by an Australian, with home grown actors, a first for its time. Australians were at last presented with a true and realistic representation of themselves which they could relate and sympathize to. This is why The Doll is seen as important in the context of Australian’s theatre evolution. 2) To understand its importance to Australian theatre one should consider the context prior to The Doll. In the early 1900s, before The Doll, and after the war, at a time when Australia was loosening its economic, social and cultural ties with England, Australia struggled with its own sense of self. We will write a custom essay sample on The Summer of the 17th Doll or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This was major setback for development of national identity in Australian theatre, and was known as the cultural cringe, a term used to describe the lack of confidence in Australian cultural values and products. As a result, the best artists and playwrights were compelled to go overseas to gain recognition. Also, overseas playwrights and actors were imported, reinforcing the belief that ‘the best’ came from overseas. In time we will see The Doll changes this perception and encourages Australians to value their own culture and what it has to offer, and thus proving pivotal in Australian theatre history. In the period leading up to The Doll, most of the plays were of a melodramatic style, therefore proving that The Doll was important in the evolution of Australian theatre. Usually consisting of a collection of Australian stereotyped characters, the melodramatic style of production gave an unrealistic representation of Australia and its people. This was mainly due to an inability to represent the outback effectively on stage, especially with floods or fires. Therefore the productions were ineffective and failed it portray Australia in a realistic form. ) Another set back for Australian theatre was that playwrights had to be careful to use ‘cultured’ or ‘refined’ dialogue, with very few slang terms and little cursing. This was a reflection of the fear of plays being removed from the stage because of perceived immoralities or offences to public decency. As a result Australian theatre was unable to present a true reflection of the Australian language, and therefore failed to represent its own country in a true light. In contrast, Lawler was able to avoid these set backs and set an example for future Australian productions. Thus prior to The Doll, Australian theatre was unsuccessful and failed to measure up to the standards of overseas productions. As a result, the Australian Elizabethan Theatre Trust was established in 1954 with the aim to assist and promote the growth of Australian theatre. With raised funds and grants from the Australian Government, the Trust began funding and subsidizing Australian theatre productions. The Trust’s achievement was awe inspiring for Australian drama. Summer of the Seventeenth Doll was its first truly Australian play. 6) Its performances were sold out throughout Australia, and went on to get world wide acclaim. A new era had begun, Australian drama was finally recognized. Lawler had successfully constructed a realistic representation of Australia that grasped a true and realistic Australian. He achieved this through the use of dialogue, setting, plot and characterization. This is why The Doll is viewed as important in the Australian theatre evolution. 7) Lawler’s construction of his characters set The Doll apart from prior Australian productions, and also helped revolutionize Australian theatre. Lawler’s characters come across to the audience as ordinary people with authentic and realistic constructions. Very unlike the characters in previous productions who were over emphasized and stereotypical†¦ 8) †¦He achieved this through the characterization techniques such as, similar values, dialogue and expressions of the average Australian of the time. Lawler gave his characters simple, colloquial speech, studded with Australian words such as, ‘strewth’, ‘larrikans’, and expressions including ‘up there Cazaly’ and even the occasional swear word. This relatively uncensored representation of characters set a new example for future productions and therefore helped in the evolution of Australian theatre. In conclusion, there is no doubt that The Doll was the turning point in Australian theatre history. It prompted a new evolution in theatre as proven by new battles for freedom of speech and an introduction to multicultural theatre. Most importantly The Doll inspired the production of many more Australian plays which received world wide acclaim. Australia finally found its national identity and The Doll had introduced a method of reproducing Australia’s wonderful culture onto both the Australian and international stage. That is why The Doll is important in the context of Australia’s theatre evolution.

Marketing Strategy of Wesfarmers Free Solution by Experts

Question: Discuss about theMarketing Strategy of Wesfarmers. Answer: Introduction Wesfarmers is an Australian stock exchange listed company whose headquarters are situated in Perth, Australia. They started their operations as a co-operative providing agricultural products and services to the western Australian farmers. From being a farmers goods company to diversifying themselves into retail, hospitality and industrial sector they have come a long way. There retail segment includes Coles a supermarket chain, home improvement stores Bunnings warehouse, office supplies stores Improvements, Target a discount retail store in the US and Kmart. Their industrial segment includes chemical business, Resources and insurance etc. The primary objective of Wesfarmers is to provide maximum return to their shareholders through integrating sustainable corporate strategies in order to maintain a strong financial position in the market. They are the largest public sector employer in the Australia with around 2, 20,000 people working with commitment in order to provide quality produ cts and services to companys business as well as their retail customers. Their diversified business portfolio ensures customer satisfaction from all then segments( Wesfarmers, 2017). 5Cs of Wesfarmers Company- The major strengths of the Wesfarmers are their large product portfolio. They strive hard in order to meet the ends of every customer. Also they continuously work hard to fulfill their primary objective which is to provide satisfactory return to their shareholders, in the financial year 2016 they declared a dividend of more than $2 billion. After Coles acquisition the balance sheet of Wesfarmers depicted a very strong financial position as Coles is their largest revenue earning segment. The major weakness is their other business segments which include Target, Resources and other industrial segments which are not showing much signs of financial growth, as a result their slow growth offsets the profitability of Coles. The market base of Wesfarmers is limited to Australia and New Zealand, they can think of expanding into the other developing countries market where they can open their retail stores Kmart and Coles, they can easily achieve economies of scale as the cost of operat ions will be comparatively low. The major threat is the rival competitor in the retail segment which is Woolworths, as the major business of Wesfarmers comes from the retail segment. Also the return on equity of Wesfarmers is comparatively low than the Woolworths which may bother the shareholders. Customer- Presently Wesfarmerss is touching every possible customer segment. From coal business to retail chains they are leaving no stone unturned. They have realized that the most profitable business segment is their retail store business Coles, target and Kmart. The key to the success of these retail chains are inducing customers by offering them heavy discounts. Generally the buying behaviors of Australian consumers are they go shopping once in a week and buy all the necessary items in bulk. Wesfarmer introduced their very famous down down discount campaign in which they cut down the prices of variety of products up to 10 percent, which makes these products irresistible to purchase. At their Bunning warehouse stores they provide best of the hardware at very affordable prices. Collaborators- Wesfarmers have around 15000 suppliers who support their business (Wesfarmers, 2016). They make sure that the quality of the product should not get affected that is why they choose suppliers not only from Australia but also internationally so that their customers get the best quality products. Coles have signed a deal with sundrop tomatoes to supply truss tomatoes grown using sea water and solar energy (Wesfarmers, 2016). Workwear group have collaborated with indigenous supplier to design their safety range of footwears (Wesfarmers, 2016). Competitors- Their major competitor in the retail segment is Woolworths who holds the dominant supermarket chain position in Australia. Apart from this they also feel Amazon is also their competitor as they provide retail facility 24/7. Also chinas biggest hardware store China Lesso has entered into the Australian market and is giving tough competition to Bunnings warehouse. Context- Wesfarmers also operate in insurance business, in 2011 when the states of Queensland hit by floods the company had to deal with various claims and mine situated there were also waterlogged which affected the profitability of the business. Queensland also experienced heavy rains in the year 2010 due to which there Curragh mines operation were temporarily closed, die to which company had to suffer losses (Wesfarmers, 2010). The Australian dollar rate is continuously declining as a result goods sold at a high cost which is attracting fewer consumers (Burrel, 2012). The impact of this can be very much seen in the Industrial and Safety business who have witnessed a $14 million decline in earnings in the year 2016 (ABC, 2016). Information about the 5Cs The information provided about customers, competitors and about the environment etc. is very important to any company, as these information provide a strong base analyzing future risk and helps to avoid such risks by formulating strategic decision policies in advance (Wesfarmers, 2017). The method of collecting such information differs from organization to organization but the purpose remains the same. Wesfarmers. Personal information about the suppliers, customers, shareholders are fetched through their official websites using server logs and google analytics (Wesfarmers Resources, 2017). Customers who shop in the Coles retail stores are given attractive discounts if they enroll in their loyalty programs also details are collected through flybuy cards, payment cards and online shopping (Coles, 2017). All these programs helps Wesfarmers to analyze the shopping behavior of the customers. Also, information is collected online with the help of Tell Coles in which customers have to enter their bill number and complete a small survey. These types of information collected helps a lot in identifying customer preferences and queries. Wesafarmer discount retail chain Target have a strong online presence over Facebook, linked-in and Instagram where they interact with the customers (Target, 2017). The main aim of collecting such information is to know the taste and preferences of the customer and resolve their queries related to the product or the organization. Suppliers are the foundation of any organizations. No company can survive without earning profits and profits can be only earned if the customers are accepting the product in the market. In order to meet the demand for a high quality product at better prices it is very important that suppliers are chosen to meet the demand of the customer. Wesfarmers carefully choose their suppliers by inviting them to share their interest online on the website where they are required to fill up a supplier form. Apart from this they continuously interact with the suppliers over trade fairs in order to know the information about the best of the products available and to know what is new they have to offer (Bunnings warehouse, 2017). Marketing Strategy of Coles It has been quite clear that the major sources of revenue generators are their retail store Coles. In Australia Coles has been facing a severe competition from its rival Woolworths and they are only operating in Australia. This may pose a serious threat to their profits. So as a result they should try to explore other opportunities in other markets. Developing economy can be a suitable market for the Wesfarmers. Developing countries like India is known to be as the consumption driven economy all over the world. The demand for consumer goods is very high as Indias population is around 1.252 billion as compared to the population of Australia which is 23.13 million. The difference is huge so as the profit earning opportunity (Pawar Veer, 2015). The Indian economy is expected to grow by 6.3% which means there is a huge potential lies in the Indian market (Goldman Sachs, 2016). Coles can strategically plan to open their stores in the metro cities like Mumbai, Kolkata, Bengaluru and Delhi . The benefits of operating in a developing economy are: Cost effective and skilled workforce- India is known to be a labor rich country. People over there are qualified and skilled and can be hired at a lower cost as the cost of living is low as compared to the other countries. This can be quite economical for Wesfarmers. Low cost of operation- Coles main feature is their high quality product at a discounted price. To maintain such low prices it is very important that the cost of acquiring such product from the suppliers and other expenses such as advertising and promotion should also be less. In India suppliers are easily available who are ready to provide quality product at a very affordable rates because of the availability of the substitutes. This will ensure Coles a great profit margin even after selling the goods on the discount. The cost of the land and transportation cost is also quite low. Liberal government policies- Indian Government always motivates foreign direct investment in the country. The laws and regulations are quite lenient as compared to other countries. That is why Indian is becoming an attractive hub for companies like IKEA, Wal-Mart etc. All these factors mentioned can help the Wesfarmer to achieve economies of scale. Also people over they are price sensitive in other words they are discount oriented. They want quality product at an affordable price. Personalization is also success factor. By providing customized product by understanding the needs of the consumer can prove to be a success formula. Retail giant like Wal-Mart have entered in India but they are unable to establish themselves yet. Coles can exploit this opportunity by identifying, understanding and analyzing consumer behavior. As the other businesses of Wesfarmers are not generating much profit it is very important to subset their losses of other business segments by earning more profit in their retail sectors. India can be future cash cows for the Wesfarmers. As discussed above Wesfarmers thinks that their one of the major competitor is Amazon who provides 24/.7 retail facility anytime and anywhere at affordable prices. Presently Coles online offer products at a price higher than what they offer in stores. The reason being their product charges include transportation and delivering cost. So it is very important if they want to give consumer a delightful online retail experience they focus on minimizing the delivery and transportation cost. Apart from this they offer delivery at a particular time and days. Online shopping is another name for convenience shopping where goods are made available at any point of time. So they should try to be more flexible in delivery time. Marketing Tactics Recommendations Product- The major competition in retail sector is not only to offer cheap products at an affordable price but also to provide customer delight by offering them personalized services. Unlike Australia people dont shop once a week, in India they go shopping on a frequent basis. To make sure people visit the stores again, retail stores should try to provide a shopping experience memorable by providing high quality products, personalized services at an affordable price. Price- In both the above proposition price plays a very crucial role in the success of the Wesfarmers. India being a price sensitive country is more sensitive towards price rise. They want to have buy the product at the best possible prices otherwise they will switch to some other brand. Coles while fixing a price should research about the prices of the same product offered by other competitors. In the online segment their competitor Woolworths and Amazon is doing quite well as compared to them. In order to reach masses they should try to offer best deals online. Place- India is a vast country. In order to reach each and every customer segment it is very important that the stores are located at a reachable location. It is also to be kept in mind the stores should be opened in a metro city as people living in the metro city will be in a better position to spend. Which means Wesfarmers should go for intensive distribution strategy. Making the product available not only on stores but online is also important as there are working professionals who do not have time to go shopping even on weekends can order their products online at their convenience. Promotion- Wesfarmers are entering into a new market; they have to spend a heavy amount on promoting their brand in the Indian market. Going online is one of the best decisions of promotion. By taking help social median sites such as Facebook they can post ads about their opening in India along with giving them special inaugural discounts. They can also tie up with certain organizations or can sponsor events. Big billboards and going digital for advertisements can be an option too (Kotler, 2002). People- In retail business satisfying the customer in terms of services and product offered at the store is very important. It is the responsibility of people working there to provide customers a delightful shopping experience so that they visit the stores again. Wesfarmers should highly focus on hiring and training staff that are willing to treat customers as their family and provide them with a memorable shopping experience. They should train the staff so that they can maximize customer satisfaction (CIM, 2015). Conclusion The report analyzes the marketing strategies of Wesfarmers who is Australias largest public company. Being mainly into the Industrial goods segment, they didnt want to stereotype themselves. They diversified into the retail segment by acquiring Coles and has been running the stores efficiently. This report clearly explains the 4Ps of marketing as a marketing tactic for entering into the new market. The report is prepared to analyze the 5Cs of the Wesfarmers which contribute collectively in order to give the organization a competitive advantage. Also the various marketing strategies related to Marketing strategy for a new segment has been discussed along with the recommendations. References ABC (2016) Wesfarmers posts 83pc drop in profits, flags challenging situation. American Broadcasting Company, Australia. Retrieved from https://www.abc.net.au/news/2016-08-24/wesfarmers-results/7779390 on 1 February, 2017. Bunning Warehouse (2017) For our suppliers. Wesafarmers, Australia. Retrieved from https://www.bunnings.com.au/about-us/for-our-suppliers on 1 February 2017. Burrel, A. (2012) Weaker coal price plus rising Aussie dollar to hit Wesfarmers. The Australian business review, Australia. Retrieved from https://www.theaustralian.com.au/business/mining-energy/weaker-coal-price-plus-rising-aussie-dollar-to-hit-wesfarmers/news-story/9ba63f003b063bbe12693425e4d49ef7 on 1 February 2017. CIM (2015) A brief summary of marketing and how it works. The Chartered Institute of Marketing, UK. Retrieved from https://www.cim.co.uk/files/7ps.pdf on 1 February 2017. Coles (2017) Privacy policy. Wesfarmers, Australia. Retrieved from https://www.coles.com.au/privacy on 1 February 2017. Goldman Sachs (2016) 2016 Macroeconomic outlook. Goldman Sachs, US. Retrieved from https://www.goldmansachs.com/our-thinking/pages/outlook-2016/ on 1 February 2017. Kotler, P. (2002) Marketing management millennium edition. Prentice Hall, US. Retrieved from https://dl.ueb.edu.vn/bitstream/1247/2250/1/Marketing_Management_-_Millenium_Edition.pdf on 1 February 2017. Pawar, A.P Veer, B.N (2015) Competitive advantage of India for FDI in Retail: A Porters Diamond Approach. Annual Research Journal of SCMS, Pune. Retrieved from https://www.scmspune.ac.in/chapter26/6.pdf on 1 February 2017. Target (2017) Privacy policy. Wesfarmers, Australia. Retrieved from https://www.target.com/c/target-privacy-policy/-/N-4sr7p on 1 February 2017. Wesfarmers (2010) Rain impact on Curragh mines. Wesfarmers, Australia. Retrieved from https://www.wesfarmers.com.au/docs/default-source/asx-announcements/rain-impact-on-curragh-mine.pdf?sfvrsn=0 on 1 February 2017. Wesfarmers (2016) 2016 Annual report. Wesfarmers, Australia. Retrieved from https://www.wesfarmers.com.au/docs/default-source/reports/2016-annual-report.pdf?sfvrsn=4 on 1 February 2017. Wesfarmers (2016) Sustainability report 2016. Wesfarmers, Australia. Retrieved from https://sustainability.wesfarmers.com.au/case-studies/sourcing/workwear-group-partners-with-indigenous-suppliers/on 1 February 2017. Wesfarmers (2016) Sustainability report 2016. Wesfarmers, Australia. Retrieved from https://sustainability.wesfarmers.com.au/our-principles/sourcing/suppliers/ on 1 February 2017. Wesfarmers (2017) Privacy and security. Wesfarmers, Australia. Retrieved from https://www.wesfarmers.com.au/security-privacy on 1 February 2017. Wesfarmers (2017) The Wesfarmers way. Wesfarmer, Australia. Retrieved from https://www.wesfarmers.com.au/who-we-are/the-wesfarmers-way on 1 February 2017. Wesfarmers Resources (2017) Privacy policy. Wesfarmers, Australia. Retrieved from https://www.wesresources.com.au/sustainability_report_2015/privacy-policy/ on 1 February 2017.

World Trade Organization Essays - World Trade Organization

World Trade Organization The World Trade Organization (WTO) was formed on January 1, 1995, as successor to the General Agreement on Tariffs and Trade (GATT), which had regulated tariffs worldwide since 1947. The WTO regulates tariffs on services, intellectual property, food, and government purchasing. The Clinton administration has been working very hard to negotiate a deal with China, a nation we have given ?Most Favored Nation' status to, to enter into the World Trade Organization. After a long negotiation process, we have reached a deal with China. The conditions of the deal require China to open its markets to a wide range of US products and services and to permit increased investment in China by US firms. Of course the agreement has to be passed by Congress, which is bound to create a lively debate on the matter. US Commerce Secretary, William Daley, is trying to convince America that this deal with China is critical to their pocketbooks. He says, "If you enjoy this economic success we are participating in, this is an important piece of its future." I have a hard time seeing how things will change if China is admitted to the WTO. We already trade a great deal with China and have given them ?Most Favored Nation' status already. I think there are several reasons why we should not let China into the WTO. There are several political risks involved with this deal with China. Organized labor and environmental groups are using this deal to somehow introduce environmental conditions and labor rights into the WTO rules. Although they are in opposition to the deal right now, they will construct a bargain in which they will trade their support of Chinese membership for the rules to be added. Chinese membership is also a great risk for China. The increased imports from the United States and other countries and the production in China by foreign firms will provide strong competition to many of the state-owned industries. I think this will force many Chinese businesses to close down. The only other solution would be to cut back on workers at these companies, which would increase the unemployment rate in China. The resulting rise in unemployment can hurt their economy and cost them a lot of money. The last, and perhaps most important issue in this debate is over China's human rights and labor standards. China is a communist country, which is something Americans seem to completely disagree with. If I recall, Little Elian from Cuba (another Communist country) is stuck in the middle of a debate over whether we should send him back to his country because it is Communist and we are so against that form of government. If we are so appalled by Communism, why do we want to give ?Most favored nation' status to one of the few remaining Communist countries? That is why we have an embargo on Cuba. When China is ready to take steps forward in human rights and labor standards, then we can talk about trade agreements.

Johann Sebastian Bach - Summary Of His Life Essays - Free Essays

Johann Sebastian Bach - Summary Of His Life Essays - Free Essays Johann Sebastian Bach - Summary of His Life Johann Sebastian Bach was one of the greatest composers in Western musical history. More than 1,000 of his compositions survive. Some examples are the Art of Fugue, Brandenburg Concerti, the Goldberg Variations for Harpsichord, the Mass in B-Minor, the motets, the Easter and Christmas oratorios, Toccata in F Major, French Suite No 5, Fugue in G Major, Fugue in G Minor ("The Great"), St. Matthew Passion, and Jesu Der Du Meine Seele. He came from a family of musicians. There were over 53 musicians in his family over a period of 300 years. Johann Sebastian Bach was born in Eisenach, Germany on March 21, 1685. His father, Johann Ambrosius Bach, was a talented violinist, and taught his son the basic skills for string playing; another relation, the organist at Eisenach's most important church, instructed the young boy on the organ. In 1695 his parents died and he was only 10 years old. He went to go stay with his older brother, Johann Christoph, who was a professional organist at Ohrdruf. Johann Christoph was a professional organist, and continued his younger brother's education on that instrument, as well as on the harpsichord. After several years in this arrangement, Johann Sebastian won a scholarship to study in Luneberg, Northern Germany, and so left his brother's tutelage. A master of several instruments while still in his teens, Johann Sebastian first found employment at the age of 18 as a "lackey and violinist" in a court orchestra in Weimar; soon after, he took the job of organist at a church in Arnstadt. Here, as in later posts, his perfectionist tendencies and high expectations of other musicians - for example, the church choir - rubbed his colleagues the wrong way, and he was embroiled in a number of hot disputes during his short tenure. In 1707, at the age of 22, Bach became fed up with the lousy musical standards of Arnstadt (and the working conditions) and moved on to another organist job, this time at the St. Blasius Church in Muhlhausen. The same year, he married his cousin Maria Barbara Bach. Again caught up in a running conflict between factions of his church, Bach fled to Weimar after one year in Muhlhausen. In Weimar, he assumed the post of organist and concertmaster in the ducal chapel. He remained in Weimar for nine years, and there he composed his first wave of major works, including organ showpieces and cantatas. By this stage in his life, Bach had developed a reputation as a brilliant, if somewhat inflexible, musical talent. His proficiency on the organ was unequaled in Europe - in fact, he toured regularly as a solo virtuoso - and his growing mastery of compositional forms, like the fugue and the canon, was already attracting interest from the musical establishment - which, in his day, was the Lutheran church. But, like many individuals of uncommon talent, he was never very good at playing the political game, and therefore suffered periodic setbacks in his career. He was passed over for a major position - which was Kapellmeister (Chorus Master) of Weimar - in 1716; partly in reaction to this snub, he left Weimar the following year to take a job as court conductor in Anhalt-Cothen. There, he slowed his output of church cantatas, and instead concentrated on instrumental music - the Cothen period produced, among other masterpieces, the Brandenburg Concerti. While at Cothen, Bach's wife, Maria Barbara, died. Bach remarried soon after - to Anna Magdalena - and forged ahead with his work. He also forged ahead in the child-rearing department, producing 13 children with his new wife - six of whom survived childhood - to add to the four children he had raised with Maria Barbara. Several of these children would become fine composers in their own right - particularly three sons: Wilhelm Friedmann, Carl Philipp Emanuel and Johann Christian. After conducting and composing for the court orchestra at Cothen for seven years, Bach was offered the highly prestigious post of cantor (music director) of St. Thomas' Church in Leipzig - after it had been turned down by two other composers. The job was a demanding one; he had to compose cantatas for the St. Thomas

Business to Business Marketing Essay Example | Topics and Well Written Essays - 3250 words

Business to Business Marketing - Essay Example This research will begin with the presentation of advantages and disadvantages of trading block. A trade block represents a group of countries who make an agreement among themselves that they will not trade with the countries except the member countries. It is an economic integration has some significant economic advantages. Some important advantages are the followings. ï‚ ¦ Being a member of trading bloc, a country will get the benefit of elimination of transaction cost between the member countries. ï‚ ¦ In a trading bloc, there is single market single currency across the union like Euro in all the countries in EU which make sense for the trade in the same medium of transaction. ï‚ ¦ Trade block is an effective inflation controller. Apart from having some beneficial areas, trade block has some painful difficulties. Some disadvantages are the followings. ï‚ ¦ If a country can produce or manufacture a good at a comparatively at a low cost as well as can sell at low price than the regional producer of a the neighbour country under trade block, then the retailer of that neighbour country cannot import that good from there at lower price so that it can sell in lower price in domestic market and can increase the demand. ï‚ ¦ The researcher believes a loss of sovereignty in the countries of EMU is there because of countries not having individual central bank run the domestic government of a country. ï‚ ¦ Some economies argued that cost advantages and trade benefit are grossly overestimate which does not reflects the real picture and recent Euro crisis is the result of long term overestimation of these. ... ighbour country under trade block, then the retailer of that neighbour country cannot import that good from there at lower price so that it can sell in lower price in domestic market and can increase the demand. I believe a loss of sovereignty in the countries of EMU is there because of countries not having individual central bank run the domestic government of a country. So, government are elected by different people of different countries but the economy is same and this is a dispute of sovereignty across the countries. I think overestimation of trade benefit results likely a wrong picture of the trade union. Some economies argued that cost advantages and trade benefit are grossly overestimate which does not reflects the real picture and recent Euro crisis is the result of long term overestimation of these (OECD, 2000, P.6). B) Influence of trading bloc in B2B business Some important benefits always positively influence the businesses within the trade block like the countries in EM U don’t have pay the tariff for doing business among all the countries of the union. This reduces a huge operational cost and products and services get the price benefit. Apart from this a huge currency liberal market is there for any product and services the market can be beneficial by saving a huge amount of transactional cost. Similarly the disadvantages of trading block have footprints into the union market. The retailers are likely forced to get supply of goods by from the producer in comparatively high price within the union. This is because the producer in the trade block gets a monopoly advantage due to the bloc of import by the retailers from outside countries. Answer2 A) Concept of added value in B2B market A restructuring of features and benefits or enhancement added to a

Quantitative Methodology Assignment Example | Topics and Well Written Essays - 500 words

Quantitative Methodology - Assignment Example The researchers applied the social compensation hypothesis to argue that the lonely and society anxious children often turn to online communication in the quest to find new friends as well as be in touch with their families (Bonetti, Campbell & Gilmore, 2010). The hypothesis also explained that online forms of communication are an avenue for forming and maintaining relationships. Data was collected quantitatively using a survey and questionnaires where the participants included the amount of time they spend online and the topics they discuss (Bonetti, Campbell & Gilmore, 2010). Convenience sampling was used to get the best students from the selected 626 students so as to get the best students that would give the correct information on the use of the internet. The independent variable was the loneliness and social anxiety among children and adolescents while the dependent was online communications as a form of maintaining relationships with families, friends, and even foreigners (Bonetti, Campbell & Gilmore, 2010). Data was gathered via the use of survey where the participants were subjected to a summarized version of the UCLA Loneliness Scale as well as an shortened gauge of the Social Anxiety Scale for Adolescents (SAS-A) (Bonetti, Campbell & Gilmore, 2010).   Students also filled questionnaires in their free time. Chi-square analysis was applied to assess the statistical inconsistencies between the loneliness and social anxiety and regularity of the use of the internet for communication purposes (Bonetti, Campbell & Gilmore, 2010).  ANOVA was also used to estimate the variances between the time used in online communication by the children with self-reported solitude and social apprehension and the students without (Bonetti, Campbell & Gilmore, 2010). The ethical guideline of obtaining consent before conducting research