Introduction

Energy Alternatives Fracking

Energy Alternatives Fracking, or hydraulic fracturing, is a process used to extract natural gas from once unreachable shale rock layers deep in the earth. To release the natural gas, highly pressurized fracking fluids (water mixed with various chemicals and sand) are injected, via steel pipe, into the ground to create cracks or fractures. This releases gas that flows to the surface to be collected in wells. Environmental concerns associated with fracking include water use, toxic chemicals, health concerns, surface and ground water contamination, soil contamination, air quality, and waste disposal. One of the most important aspects of any energy policy is energy conservation. As consumer demand for oil drops, prices decline; the time the oil can be relied on is extended. To help reduce oil use, government regulations, NHTSA (2014), have required greater fuel efficiency in cars through the creation of the Corporate Average Fuel Economy (CAFE) standards. Congress has also required the phasing out of incandescent light bulbs in favor of the more energy efficient compact fluorescent bulbs. Like many new technologies, the upside of the compact fluorescent’s energy saving capacity is countered by the downside that compact fluorescents require the toxic chemical, mercury, for their production. There are many alternatives to using petroleum and coal for energy, but each comes with a unique set of problems. Most new technologies, like solar and wind power, are very costly to start up. Nuclear energy has its own unique drawbacks.

Using nuclear energy is attractive to many because the technology is already in place, and it can generate large amounts of electricity from one plant. But the risks associated with nuclear energy are high. For example, there is no current solution as to how to deal with nuclear waste. No matter how carefully a nuclear plant is built and maintained, there is always the risk of an accident. Further, nuclear plants can also be a target for terrorist activity, and the nuclear waste can be used to power nuclear weapons.

It is certain that we will see the emergence of new energy technology, but it seems unlikely at this point that there will be one simple answer. Wind, solar, and geothermal energy are useful in certain geographic areas, but it will take many different solutions to fulfill the energy demands of the worldwide population.

References

U.S. Energy Information Administration (EIA). (2014). Energy in brief. Retrieved from http://www.eia.gov/ energy_in_brief/article/major_energy_sources_and_users.cfm

National Highway Traffic Safety Administration (NHTSA). (2014). CAFE – Fuel economy. Retrieved from http://www.nhtsa.gov/fuel-economy

Demonstration of Proficiency

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

• Competency 1: Assess basic environmental health principles, theories, and issues.
  • Assess the economic issues associated with renewable energy technology.
• Competency 2: Analyze the impact of contaminants in the environment to human health.
  • Analyze the risks to human health associated with renewable energy technology.
• Competency 3: Apply personal and professional decisions based upon an understanding of environmental risks.
  • Illustrate the positives associated with renewable energy technology.
  • Illustrate the negatives associated with renewable energy technology.
• Competency 4: Communicate effectively in a variety of formats.
  • Write coherently to support a central idea in appropriate format with correct grammar, usage, and mechanics.

Preparation

Research a specific renewable source of energy.

Instructions

The purpose of this assessment is to evaluate alternative energy sources and to understand that there are positives and negatives to the alternatives.

To begin this assessment, research a specific renewable source of energy. Then, in a 3–4-page report, outline the pros and cons of this method of energy production. To build your argument and support your evaluation, address the following:

• Identify and analyze the economic considerations (such as the cost per kilowatt for large-scale renewable energy source, costs of construction, and so forth) of using this method of energy production.
• What are the environmental benefits of this energy source?
• What are the environmental downsides, if any, to this renewable energy technology?
• Analyze the risks to human health associated with this technology.
• What conclusions have you reached with regards to this topic, and why?

Additional Requirements

Use the APA Paper Template (linked in Resources: Energy Sources) to format your report.

• Written Communication: Written communication should be free of errors that detract from the overall message.
• Length: This report should be 3–4 pages in content length. Include a separate title page and a separate references page.
• Font and Font Size: Times New Roman, 12-point, double-spaced. Use Microsoft Word.
• APA Formatting: Resources and in-text citations should be formatted according to the current APA style and formatting.
• Number of Resources: You are required to cite a minimum of two scholarly resources. You may conduct independent research for resources and references to support your report. Provide a reference list and in-text citations for all your resources, using APA format. You may cite texts and authors from the Resources.

 

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Introduction:As you work on this task, ask yourself why one form of business organization would beselected over another, particularly for a small business. What are the advantages anddisadvantages of each form?The business entity characteristics owners should consider fall into these seven categories:• Liability: What are the limits on liability and protection of not only business assets, butpersonal assets and future earning power of the owner beyond this particular business?• Income taxes: What are the features of each business entity that affect the amount offederal, state, and local income taxes paid by the business and/or owners?• Longevity or continuity of the organization: What features of each form relate to forceddissolution of the business organization?• Control: Who has ultimate control over important decisions? How much control does theowner have to grant to others?• Profit retention: What portion of the profits does the owner have to give up because theyhave to be shared with others? How does this affect return on investment?• Location: What are the implications for moving or expanding the business into a differentstate? Will a separate legal entity have to be created or new documents filed in the newstate? Are there advantages or disadvantages regarding how state taxes will beassessed?• Convenience or burden: What additional requirements or extra workload are placed uponthe organization to comply with all reporting, meeting, and other regulatoryrequirements?Given:A manufacturing business produces a variety of wood moldings, hardwood doors, high-endkitchen cabinets, and specialty cabinets and bookcases for dens, home libraries, offices, etc.The business owner has been operating as a sole proprietorship, but is thinking of changingto a different type of organization. The company has been quite profitable for its size. Profitbefore taxes for the coming year is expected to be just over $600,000.While considering this change, the owner has thought about the various functions of thebusiness operation and different types of risks and potential liability that accompany eachfunction. For instance, trained employees usually install cabinets, but when the companyhas a backlog of work, the owner must occasionally hire outside installers on asubcontractor basis. Although the company has not yet had such a problem, the owner haswondered what might happen if an installer were to make an installation error and a cabinetwere to fall off the wall and injure someone. Also, all of the delivery drivers possess licensesrequired for the trucks they drive. The owner is concerned about a delivery truck becominginvolved in an accident. In addition, the owner is concerned about a shop worker beinginjured on a saw or shaper, or a load falling off of a forklift and injuring someone.The owner is unsure what would happen with bills and other liabilities if the business wereto fail for some reason. Although the company has ample insurance, the owner has heard ofjuries awarding judgments that exceed the insurance coverage and wipe out all personalassets.The owner is planning to expand the business, both by expanding its market geographicallyand by adding a second factory in an adjoining state. To accomplish this, the owner willneed to increase the investment in capital assets. One way of obtaining funds would be tosell a share of the business to a partner, but the owner is not sure how that will impactpotential liability. Another possibility is to sell stock in the company. This way the ownermight be able to retain control of the company by having family members serve as officersin the corporation.The owner is also concerned about profit that will be shared with partners or investors, theamount of income tax each year, and continuation of the business under control of theofficers in the corporation if the owner were to die.The owner is aware of terms like S-corporation, C-corporation, LLC, and limited and generalpartnerships that describe different forms of business organizations but does not fullyunderstand the business forms.The owner has hired you to explain the advantages and disadvantages of each type oforganization compared with those for each of the other types, including the type oforganization the company is currently using. In your report to the owner, format yourresponse so that it is easy to make comparisons among the six forms of organization. Youshould use a listing approach rather than discussing several concepts in the sameparagraph.Task:A. Write a report (suggested length of 5–7 pages) about the forms of businessorganizations listed below. Your report should have a subheading for each business formwith a brief description of the business form and a brief discussion of the keycharacteristics, advantages, and disadvantages of that form of organization.1. Explain how at least six of the seven key characteristics listed in the introduction tothis task apply to each of the following organizational forms:a. Sole proprietorshipb. General partnershipc. Limited partnershipd. C-corporatione. S-corporationf. Limited liability companyB. Write a memorandum (suggested length of 1–2 pages) in which you analyze yourfindings by doing the following:1. Recommend a specific form of organization that should be used in the givensituation.2. Justify why that is the best business form for this situation.

 

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Introduction

Lisa Martin, CMA, CPA, was recently promoted to the position of controller at International Retail Computer Solutions (IRCS). Her promotion resulted from eight years of hard work as a corporate accountant. Martin has been with IRCS since graduating from Big State University and was thrilled to have an opportunity to move up within the organization. She has a fantastic relationship with the other members of IRCS’s management team (all of whom are also Big State alumni) and enjoys tailgating with them before Big State sporting events.

The Company

IRCS is a privately held company headquartered in the southeastern United States. IRCS’s primary business activities involve buying and selling used point-of-sale (POS) computer systems. When a U.S. retailer upgrades its POS computer systems, IRCS purchases the used equipment (including handheld scanners, receipt printers, monitors, keyboards, CPUs, and servers) and resells it to retailers in developing countries, where it is considered to be top of the line. In addition, IRCS provides replacement parts to U.S. retailers that continue to use older POS computer systems.

Ernesto Rodriguez founded IRCS in 1984. He retired last year to engage in other pursuits and is no longer involved with the day-to-day operations. However, he still retains a majority ownership interest in the company and serves as the chairman of the board. The president and chief executive officer, Harvey Lang, has been with IRCS since the founding of the company. Upon Rodriguez’s retirement, Lang was promoted and given a small ownership interest in the company.

The Management Team

Besides Harvey Lang and Lisa Martin, IRCS’s management team includes Chief Financial Officer Christina Edmonds, Chief Information Officer Carl Miller, Vice President of Sales Ryan Scott, and Vice President of Logistics Elizabeth Conner. The members of the management team all have an excellent working relationship with one another and frequently spend time together outside of work, often at Big State University sporting events.

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Changing Circumstances

During the current year (2012), several large [retail] chains, which had expanded aggressively during the boom years preceding 2008, succumbed to the ongoing financial hardship and were forced into bankruptcy. IRCS’s management saw an opportunity to acquire a significant number of used, but relatively up-to-date POS systems at a significant discount. Therefore, the company obtained a $10 million loan from First National Bank (FNB) to help finance the purchase. In order to obtain the financing from FNB, IRCS agreed to several loan covenants. Specifically, IRCS is required to maintain a minimum interest coverage ratio of 3. Failure to do so violates the loan covenant and allows FNB to demand immediate repayment of the loan.

Costing the New Inventory

In June 2012, IRCS paid more than $12 million to acquire used POS systems from a bankrupt retail chain. Although IRCS frequently purchases and sells used POS equipment, this latest purchase is by far the largest the company has ever made, thus the need for the $10 million loan.

One day in late November, over lunch with the management team, Martin listened attentively as Lang, Edmonds, and Scott discussed the success of IRCS’s latest venture. She was delighted to hear that sales of the newly acquired inventory were proceeding briskly, and that the company’s profit margins were substantially higher than normal. The only items that were cause for concern were three remaining types of CPUs. Scott noted that there just did not seem to be much demand for these items, even when IRCS offered relatively deep discounts. However, he mentioned that his sales team had several promising leads, and that he was confident that they would be able to find buyers for these items, even if they had to offer even larger discounts.

Inventory Impairment Testing

Shortly after year-end, Martin was instructed to prepare the first draft of ICRS’s financial statements. As part of the preparation process, she conducted an inventory impairment test to determine whether inventories were appropriately recorded on IRCS’s books.

When she had completed the impairment test, she was surprised to see that her calculation indicated that there was an impairment loss of $538,005. Upon further examination, Martin determined that the impairment loss was attributable to the decline in market value of the three slow-moving CPU items. Concerned, she sought out Ryan Scott to determine whether the sales force had had any luck finding buyers for the three CPU items:

Martin: “Hey, Ryan. Do you have a minute to chat about those three slow-moving CPU items from the June purchase?”

Scott: “Sure, Lisa. What can I do for you?”
Martin: “I need to know if you still think that we might be able to sell those items at any amount close

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to the cost we have on the books. In other words, is it reasonable to hope that we can sell them for a normal profit?”

Scott: “Well, Lisa, that’s a tough question. You know, we have a great sales team here at IRCS, and we are generally able to move our used inventory pretty quickly. We did have several promising leads, but unfortunately, those customers bought CPUs from our competition at a deeply discounted price relative to our carrying amount. Given the market, I think a more realistic expectation is that we will have to offer them at a significant discount if we want to sell them.”

Martin: “I see. Okay, Ryan, thanks for taking the time to talk things over with me.”

Scott: “Of course! Any time.”

Given her discussion with Scott, Martin recorded the loss, which directly reduced income before taxes and interest, and significantly reduced net income. She then sent the financial statements and impairment test documentation to Edmonds for review and approval. The next day, Lang called Martin into his office:

Lang: ”Thanks for dropping by, Lisa.”

Martin: ”No problem, Harvey. What’s up?”

Lang: ”I wanted to talk about the draft of the financial statements that you sent to Christina yesterday. I see that you’ve indicated that we should recognize an impairment loss in excess of $500,000 associated with our inventory. You do realize that amount would reduce our bonuses? I use my bonus to pay for my Big State luxury box and provide scholarships for deserving student athletes. In addition, these financial statements are going to our bankers. The impairment loss you booked will cause us to violate the interest coverage ratio debt covenant. In fact, any impairment adjustment above $72,000 will place us in violation of our debt covenants in the first year of our loan!”

Martin: ”I definitely don’t want us to violate our debt covenants. But do you really think the bankers would call our loan on our first violation?”

Lang: ”Look, the bank wasn’t really excited about extending us the loan to begin with; however, Ernesto was a friend of the bank president and that was what got us the loan. The down economy has really hurt the bank and they are in no position to have risky loans outstanding. So, to answer your question, yes, I believe the bank will call our loan if we violate our debt covenants this year. Doing so will probably send us to bankruptcy and put 25 people out of work, and Ernesto and I would be on the hook for the remaining loan balance. Do you want that to happen?”

Martin: ”Of course not, especially since I am one of those people that could be out of work! Look Harvey, I didn’t make up the accounting rules, but we have to follow them, especially since a CPA firm will review these financial statements before we send them to the bank.”

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Lang: ”The bankers are not interested in the nuts and bolts of our accounting, particularly an issue that doesn’t affect our cash flows. The bank just needs to get a big picture of our financial situation, and I am telling you, we are in good shape! Now, I need you to find a way to lower that adjustment, so that we don’t violate our debt covenants.”

Martin: ”Harvey, based on my reading of the authoritative guidance, I don’t think we have an option here. And I don’t feel comfortable with you pressuring me.”

Lang: ”Okay, okay. I’m sorry I got so riled up.” … ”I tell you what. I think I can see our way out of this. Let me have a few days to get things lined up, and I will touch base with you soon.”

Two days later, Martin received a note from Lang that read, “This should take care of our impairment problem! Once you’ve reversed the impairment loss and updated the financial statements, just send them on to Christina for final review.” Underneath was a copy of Lang’s impairment test, a purchase order from one of IRCS’s largest Indian customers, along with IRCS’s corresponding invoice and shipping documentation. Martin noticed that three items included in the order were the slow-moving CPU items. Concerned that there might have been a mistake in the pricing, she decided to check with Ryan Scott:

Martin: ”Ryan, can I ask you about Invoice Number 2011-00295? The latest sale we made to National Computers?”

Scott: ”Sure, Lisa. What do you need to know?”

Martin: ”First, great job selling some of those CPU units. I know we were all worried they would be tough to sell, but it looks like we were actually able to recover our cost. I do have a question about the other items on the invoice though. I think there might be a mistake on the prices?”

Scott: ”That’s no mistake. Just between you and me, Harvey said that for financial reasons, we needed to show that we could sell the CPU items above our carrying cost, so I was able to convince National Computers to ‘pay’ a substantial premium for the CPU items by giving them great prices on the other items. But Harvey said to make sure to keep that information confidential. He specifically asked that we not discuss it with the accountants coming to review the books in a few weeks.”

Martin: ”Whoa! That’s news to me. So you don’t think we could sell those CPU items, even at cost, without giving the customer ‘special’ pricing on the other item?”

Scott: ”No way. Those CPU items are pretty obsolete, even for our overseas customers. We’ll be lucky if we can sell them for half of the carrying value.”

Martin’s head was spinning as she returned to her office. She was very uncomfortable with what she had learned about the sale to National Computers. Unsure how she should proceed, she decided to request a meeting with Christina Edmonds to talk through the issue. At the meeting the next day, Martin began by describing the issues around the impairment loss, and her concerns about Harvey’s ”solution” to the problem. She then asked Edmonds what she should do:

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Edmonds: ”Well, Lisa, this is a tough situation.” … ”It’s true that the vast majority of our sales are on an item-by-item basis, but we do sell complete POS computer systems from time to time. For instance, our recent sale to National Computers included monitors, printers, scanners, and CPUs.”

Martin: ”But Ryan said the only reason National Computer was willing to buy the CPUs was because we gave them deep discounts on the other items.”

Edmonds: ”This is definitely a gray area, and we must use our professional j

 

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                                                                                                      INTRODUCTION

In this unit we will examine the differences between quantitative and qualitative methodologies used in research. We will also examine two particular studies, one on Immunization and another on Psychology, in order to see why the proper methodology and ethics while researching is important. You will also get the chance to find a study on your own to read and discuss with your instructor.

                                                                   READING ASSIGNMENT

This unit requires the following resources for reading:Methodology: PDF / PowerPoint  http://my.uopeople.edu/pluginfile.php/123476/mod_book/chapter/92495/ENGL1102.U3.Brief%20Methods.JS.pptxAn article on an Immunization study here: http://www.ncbi.nlm.nih.gov/pmc/articles/PMC3136032/A review of the Stanford Prison study here: http://www.bbc.co.uk/news/world-us-canada-14564182A study or an article about a study of your own choosing.

                                                                LEARNING JOURNAL ASSIGNMENT QUESTION

You were asked to find your own study to examine this week. For your Learning Journal, you are to fill out the following form. Remember, use complete sentences and proper APA In-Text Citation and References. This will help you with your critical reading skills and your ability to research.

Answer the following questions in complete sentences, as provided for use by Cumbria University:

1. What is the title of the text and what is the text about?

2. What is the author’s view? How do I know?

3. What is the evidence presented by the author to support ideas?

4. Is the evidence valid? How do I know?

5. Is the evidence relevant? How do I know?

6. Have I heard/read anything similar or dissimilar? What was it?

7. Do I agree or disagree with the views expressed by the author? Why?

8. Discuss either the Immunization study or the Stanford Prison study. Which of the studies you felt led to the most harm and what you think could have been done by the scientists, the media, and the public to avoid or fix the harms caused.

Remember: If you use a quote or paraphrase, you need to give the proper APA citations and references.

Your instructor will use the following rubric to grade your Learning Journal:

Aspect 1: Did the student fill out all of the questions fully?

Aspect 2: Did the answers tell you what you wanted to know about the study the student read? How effective are the answers in showing points of view and subject?

Aspect 3: How would you rate the answers for originality? Are they mostly original answers without a lot of quotations or paraphrase?

Aspect 4: How clear were the answers to you? Could you read them easily? Did the student make his or her view point known? This can include items like spelling and grammar as well as the overall flow of the answers.

Aspect 5: If needed, were proper APA Citations and References used? Give at least 1-2 sentences of feedback here.

 

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Managers vs. Leaders

Discussion Question

Discuss whether or not you were aware of the differences between managers and leaders. Now that you are aware of the differences, does this change your outlook on being a manager versus a leader? Why or why not?

 

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