Despite this self-correcting feature,

Some inventory errors are said to be self-correcting in that the error has the opposite financial statement effect in the period following the error, thereby correcting the original account balance errors.

 

 Despite this self-correcting feature, discuss why these errors should not be ignore

A financial statement’s bottom line is affected when there is an error in inventory.  For example, if a company’s ending inventory for the current year is understated by $1000 then it will overstate the cost of goods sold by $1000.  Making the gross profit for the current year to be understated by $1000.  The next year, due to lower beginning balance of inventory, which has an ending balance of previous year, the cost of goods sold will be understated by $1000 and gross profit shall be overstated by $1000. Some inventory errors are self-correcting errors.  These errors are automatically corrected in the following year.  When net income in the second year is closed to retained earnings, the retained earnings account is stated at its proper amount. The overstatement of net income in the first year is offset by the understatement of net income in the second year. For the two years combined the net income is correct. At the end of the second year, the balance sheet contains the correct amounts for both inventory and retained earnings.

Ignoring inventory errors also affects the net income before taxes.  When the net income before taxes is overstated by the amount of the inventory overstatement, the income taxes must be paid on the amount of the overstatement (Bragg and Bragg, 2020).

Since a lot of decisions are based on a company’s current year’s performance, inventory errors are not welcome by accounting.  When a company’s performance is understated and overstated due to errors, this can lead to wrong decisions, failed audits, and lower profits.

Steps required to accounting for the error correction

· Financial statements for previous years are restated retrospectively

· A journal entry is made correcting any incorrect account balance

· If retained earnings requires adjustment for correction statement of shareholder’s equity is adjusted as prior period adjustment

· A disclosure note is provided describing the nature and impact of the error and correction on income (Spiceland, Sepe & Tomassini, 2004, p. 484)

 

 
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WHEN IT COMES TO THE SAFETY OF YOUNG

wHEN IT COMES TO THE SAFETY OF YOuNG children, fire is a parent’s nightmare. Just the thought of their young ones trapped in their cribs or bedsby a raging nocturnal blaze is enough to make most mothers and fathers take every precaution to ensure their children’s safety. Little wonder that when fire-retardant children’s pajamas first hit the market, they proved an overnight success. Within a few short years more than 200 million pairs were sold, and the sales of millions more were all but guaranteed. For their manufacturers, the future could not have been brighter. Then, like a bolt from the blue, came word that the pajamas were killers. The U.S. Consumer Product Safety Commission (CPSC) moved quickly to ban their sale and recall millions of pairs. Reason: The pajamas con- tained the flame-retardant chemical Tris (2,3-dibromoprophyl), which had been found to cause kidney cancer in children.

Because of its toxicity, the sleepwear couldn’t even be thrown away, let alone sold. Indeed, the CPSC left no doubt about how the pajamas were to be disposed of—buried or burned or used as industrial wiping cloths. Whereas just months earlier the man- ufacturers of the Tris-impregnated pajamas couldn’t fill orders fast enough, suddenly they were worrying about how to get rid of the millions of pairs now sitting in warehouses.

Soon, however, ads began appearing in the classified pages of Women’s Wear Daily. “Tris-Tris-Tris . . . We will buy any fabric containing Tris,” read one. Another said, “Tris—we will purchase any large quantities of garments containing Tris.” The ads had been placed by exporters, who began buying up the pajamas, usually at 10 to 30 percent of the normal wholesale price. Their intent was clear: to dump* the carcinogenic pajamas on overseas markets.24

Tris is not the only example of dumping. There were the 450,000 baby pacifiers, of the type known to have caused choking deaths, that were exported for sale overseas, and the 400 Iraqis who died and the 5,000 who were hospitalized after eating wheat and barley treated with a U.S.-banned organic mercury fungicide. Winstrol, a synthetic male hormone that had been found to stunt the growth of American children, was made available in Brazil as an appetite stimulant for children. DowElanco sold its weed killer Galant in Costa Rica, although the Environmental Protection Agency (EPA) forbade its sale to U.S. farmers because Galant may cause cancer. After the U.S. Food and Drug Administration (FDA) banned the painkiller dipyrone because it can cause a fatal blood disorder, Winthrop Products continued to sell dipyrone in Mexico City.

Manufacturers that dump products abroad clearly are motivated by profit, or at least by the hope of avoiding financial losses resulting from having to withdraw a product from the U.S. market. For government and health agencies that cooperate in the exporting of dangerous products, some- times the motives are more complex.

For example, when researchers documented the dangers of the Dalkon Shield intrauterine device—among the adverse reactions were pelvic inflammation, blood poisoning, tubal pregnancies, and uterine perforations—its manufacturer, A. H. Robins Co., began losing its domestic market. As a result, the company worked out a deal with the Office of Population within the U.S. Agency for International Development (AID), whereby AID bought thousands of the devices at a reduced price for use in population-control programs in forty-two countries.

The agencies involved say their motives are humanitarian. Because the death rate in childbirth is relatively high in third-world countries, almost any birth-control device is safer than preg- nancy. Analogous arguments are used to defend the export of pesticides and other products judged too dangerous for use in the United States: Foreign countries should be free to decide for themselves whether the benefits of those products are worth their risks. In line with this, some third-world government officials insist that denying their countries access to these products is tantamount to violating their countries’ national sovereignty.

This reasoning has found a sympathetic ear in Washington, for it turns up in the “notification” system that regulates the export of banned or dangerous products overseas. Based on the principles of national sovereignty, self-determination, and free trade, the notification system requires that foreign governments be notified whenever a product is banned, deregulated, sus- pended, or canceled by a U.S. regulatory agency. The State Department, which implements the system, has a policy statement on the subject that reads in part: “No country should establish itself as the arbiter of others’ health and safety stan- dards. Individual governments are generally in the best position to establish standards of public health and safety.”

Critics of the system claim that notifying foreign health officials is virtually useless. For one thing, governments in poor countries can rarely establish health standards or even control imports into their countries. Indeed, most of the third- world countries where banned or dangerous products are dumped lack regulatory agencies, adequate testing facilities, and well-staffed customs departments.

Then there’s the problem of getting the word out about hazardous products. In theory, when a government agency such as the EPA or the FDA finds a product hazardous, it is supposed to inform the State Department, which is to notify health officials in other nations. But agencies often fail to inform the State Department of the product they have banned or found harmful, and when it is notified, its communiqués typically go no further than U.S. embassies abroad. When foreign officials are notified by U.S. embassies, they sometimes find the communiqués vague or ambiguous or too technical to understand.

But even if communication procedures were improved or the export of dangerous products forbidden, there are ways that companies can circumvent these threats to their profits— for example, by simply changing the name of the product or by exporting the individual ingredients of a product to a plant in a foreign country. Once there, the ingredients can be reassem- bled and the product dumped. The United States does prohibit its pharmaceutical companies from exporting drugs banned in this country, but sidestepping the law is not difficult. “Unless the package bursts open on the dock,” one drug company executive observes, “you have no chance of being caught.”

Unfortunately for us, in the case of pesticides, the effects of overseas dumping are now coming home. In the United States, the EPA bans all crop uses of DDT and dieldrin, which kill fish, cause tumors in animals, and build up in the fatty tissue of humans. It also bans heptachlor, chlordane, leptophos, endrin, and many other pesticides, including 2,4,5-T (which contains the deadly poison dioxin, the active ingredient in Agent Orange, the notorious defoliant used in Vietnam) because they are dangerous to human beings. No law, however, prohibits the sale of DDT and these other U.S.-banned pesticides overseas, where thanks to corporate dumping they are routinely used in agriculture. In one three-month period, for example, U.S. chemical companies exported 3.9 million pounds of banned and withdrawn pesticides. The FDA now estimates, through spot checks, that 10 percent of our imported food is contami- nated with residues of banned pesticides. And the FDA’s most commonly used testing procedure does not even check for 70 percent of the pesticides known to cause cancer.25

update

In 2013 researchers purchased 42 different types of foam furni- ture for children, including the popular Mickey Mouse couch, and found that all but four of them contained the toxic flame retar- dants that were banned years ago from children’s pajamas— flame retardants that contain chemicals linked, not just to cancer, but also to diminished IQs and other problems. Although the chemical industry defends flame retardants as necessary to safeguard children, it turns out that they do not actually prevent fires. If you set a cushion on fire, it will burn right up.26

DISCuSSION QuESTIONS

1. Complete the following statements by filling in the blanks with either “moral” or “nonmoral” (e.g., factual, scientific, legal):

a. Whether or not dumping should be permitted is a_____ question.

b. “Are dangerous products of any use in the third world?” is a _____ question.

c. “Is it proper for the U.S. government to sponsor the export of dangerous products overseas?” is a ______ question.

d. Whether or not the notification system works as its supporters claim it works is a _____ question.

e. “Is it legal to dump this product overseas?” is a _____question.4. If no law is broken, is there anything wrong with dumping? If so, when is it wrong and why? Do any moral considerations support dumping products overseas when this violates U.S. law?

Putting aside the question of legality, what moral arguments can be given for and against dumping? What is your position on dumping, and what principles and values do you base it on? Should we have laws prohibiting more types of dumping?

 
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Analyze a financial and economic issue in the health care industry.

Analyze a financial and economic issue in the health care industry.

Write a 700 – 800 word paper in which you:

  • Analyze a financial and economic issue in the health care industry.
  • Choose a current financial or economic issue in the health care industry. Consider the following:
  • What are the economic trends of the health care payment system?
  • What are the supply and demand challenges for health care services?
  • Why are costs increasing in the health care system?
  • What regulatory issues are affecting, or will affect, the health care industry?
  • Analyze the issue and its financial impact on the health care industry.
  • Provide recommendations for improving the issue. Consider current strategies being used or presented for improving the issue.
  • Include what you believe would be the outcome of these recommendations if implemented.

Cite 3 peer-reviewed, scholarly, or similar references to support your paper

 
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Business Law Assignment 8 Question And One Discussion

Please answer the essay questions in detail with citing of following chapters.

Chapter 13 assignment- Essay question 1,2, 4,5- page 314

Chapter 15, assignment: Essay question 2,3,4,5 page 354

Discussion

Star Chevrolet Co. v. Green
Facts: Kevin Green paid $4,600 cash for a used Camaro from Star Chevrolet. When the car blew a gasket, the dealer refused to give Kevin his money back. Kevin repaired the car himself and drove it on the highway, where it was wrecked. Kevin sued Star, and the trial court awarded him the full price of the car, because he was a minor when he bought it. Star appealed.
Issue: Is Kevin Green entitled to disaffirm the contract even though the Camaro has been destroyed?
Holding: The appeals court affirmed judgment for Green but reduced the award to $3,100, based on the car’s salvage value. A minor may disaffirm a contract. He is required to return the consideration only if it is still in his possession. If the minor has wasted, squandered, or otherwise destroyed the consideration, he need not return it and is still entitled to his money back.
1. Question: Star Chevrolet either did not know that Green was entitled to his money back, or knew but refused to honor it. Why was that a particularly costly mistake by Star?
2. Question: Kevin Green knew that he was a minor. Why should he be allowed to make an agreement, wreck a car, and then get his money back?

 
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Transport Proteins on Strike Case Study

Transport Proteins on Strike Case Study

Questions

  1. What is the meaning behind the PHOSPHOLIPIDS’ chant?
  2. Why is H2O concerned about the aquaporins shutting down? What are aquaporins and how are they involved in plasma membrane transport? In addition to the use of aquaporins, what is another way H2O can cross the plasma membrane? Is this second way sufficient? Explain your answer.
  3. Both GLUCOSE and AMINO ACID claim to have a special relationship with their respective transport proteins. What is the basis for their claims?
  4. Could O2 and CO2 make the same claim as GLUCOSE and AMINO ACID? Why or why not?
  5. The movement of oxygen and carbon dioxide into and out of the cell is called gas exchange. Which two body organ systems are involved in gas exchange? Which type of plasma membrane transport is used for gas exchange? Is this method best? Explain your answer
  6. PHIL LIPID and PROFESSOR TOSOL discuss the Great Dehydration. Explain what you think occurred during the Great Dehydration. Why are sports drinks recommended to prevent, or treat, dehydration?
  7. In an interview with CHLOE ESTEROL, O2 says that if GLUCOSE can’t enter The Cell, then cellular respiration would be affected. Explain the connection between glucose, oxygen, and cellular respiration.
  8. What is the sodium-potassium pump? How does it work? Which body organ system depends on sodium-potassium pumps to function?
  9. What are transport proteins and why are they important? What would happen to The Cell if the transport proteins went on strike?

 

References:

 
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International Business Decision Making

International Business Decision Making

Assignment 1: Discussion Questions—International Business Decision Making

The various factors impacting international business may be brought together into a process for evaluating international business opportunities. Choosing the right mode of entry is the next step.

Research evaluation of business opportunities and modes of entry using your textbook,  University online library resources, and the Internet. Respond to the following:

  • Explain how a business can assess international business opportunities giving examples. Do you think the size of the company matters in assessing an international business opportunity? Give reasons for your answer.
  • In your opinion, what would be the single most effective way for a potential international business to gain entry into an international market? What are the apparent risks of the mode of entry you recommend? For at least one other mode of entry, explain why it would be less effective compared to the one you chose.

Write your response in 400 words or less. Apply current APA standards for writing style to your work. All written assignments and responses should follow APA rules for attributing sources.

By Wednesday, February 13, 2013

Assignment 2: Presentation—Starting an International Business

Business decisions are not made on a hunch or some vague idea of a good place to do business. Professionals assess business opportunities and modes of entry to choose the best alternative.

Research the topic using your textbook,  University online library resources, and the Internet. Based on your research, develop a presentation. Your role is of an educational specialist in international business and your audience is a group of middle managers.

Discuss the following in your presentation:

  • Steps to analyzing international business opportunities with specifics of what is involved in each step
  • Alternative methods for gaining entry into an international business opportunity or market

Submit your work in a 10-slide PowerPoint presentation. Use the speaker notes area to write the information supporting the slides. Apply current APA standards for writing style to your work. All written assignments and responses should follow APA rules for attributing sources.

 
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International Business Project

Read the boxed article, “Reinflating Real Property Values,” by A. J. Cataldo and Anthony P. Curatola, from Strategic Finance, October 2008. Then respond to the questions that follow. Feel free to use Google, Wikipedia, or any other reliable Internet sources for your research. Be sure to verify your answers by checking multiple sources.

REINFLATING REAL PROPERTY VALUES

By A. J. Cataldo, CMA, CPA, and Anthony P. Curatola

Reprinted with permission from Strategic Finance, October 2008.

On September 8, 2008, Freddie Mac (NYSE: FRE) and Fannie Mae (NYSE: FNM), the holders of approximately 50% of mortgages in the United States, were seized by the U.S. government in a “bailout” that may cost American taxpayers between $100 billion and $300 billion. Effectively, owners of common equity saw the value of their holdings in these two firms decline by 80% to 90% as the common stock price per share for Freddie dropped from $5.10 to $0.88 per share and the common stock price per share for Fannie dropped from $7.04 to $0.73 per share. Because short positions effectively increase the number of shares issued and outstanding, more than 110% of the shares of both Freddie and Fannie were held by institutions. Approximately 50% of the shares of Freddie and Fannie were traded on Monday, September 8, 2008, following the news of the seizure over the preceding weekend. While many possible solutions may be under consideration, one possible fiscal policy-based answer may be to simply reduce the depreciable lives for residential real property, effectively increasing the net present value (and, therefore, the value) of these properties, if held for trade or business purposes. Some comparison between a less-recent historical crisis and the present situation warrants review.

Change in Fiscal Policy: 1987 Crash

The Economic Recovery Tax Act of 1981 (ERTA81) greatly accelerated the depreciation deductions available for all asset classes, including real property, under the accelerated cost recovery system (ACRS).The Tax Reform Act of 1986 (TRA86), passed by Congress on October 22, 1986, provided for an increase in the depreciable lives of real property from their ACRS-based lives of 15 years to a MACRS-based (modified ACRS) life of 27.5 years (or longer) while severely restricting passive activity losses (PALs). Approximately one year later, on Monday, October 19, 1987, the Dow Jones Industrial Average (DJIA) dropped more than 22% in a single trading day. While there’s no denying that program trading led the list of contributing variables to the 1987 stock market “crash,” another possible causal link is the extension of depreciable lives—the move from ACRS to MACRS—and the imposition of passive activity loss limitations (PALs), which together placed downward pressure on real property values as an asset class. These provisions of TRA86 may have made economic sense on one dimension, but they were also likely to have contributed to the end of the real estate boom in the early to mid-1980s as well as to the savings and loan (S&L) “crisis” and the formation of the Resolution Trust Corporation (RTC) that followed.

Change in Monetary Policy: 2008 Crash

The stage was set for the current housing crisis during the 2002 through 2004 period. Many Americans refinanced their existing home mortgages at lower interest rates, effectively “cashing in” and consuming much of their equity, but the real problem arose when no-qualifying and no-documentation (no-doc) mortgages were approved by lenders. In many cases, these were negative amortization loans for the first few years of the life of the mortgage and/or adjustable rate mortgages, and, as interest rates recovered (June 2004), payments on these mortgages were reset at higher interest rates and higher monthly payments. Many new homeowners, as well as speculators anticipating a continuing rise in real property values, were unable (or unwilling) to make these higher payments as their equity positions evaporated. Lenders’ declining collateral positions in these real properties, loan defaults, and home foreclosures grew, increasing the nonperforming components of lender portfolios of home mortgage loans. The Mortgage Forgiveness Debt Relief (MFDR) Act of 2007 provided some relief to taxpayers. As real property values declined and mortgages exceeded the fair market value of these properties, financial institutions holding these nonperforming, or “at risk,” loans experienced increased shorting and even naked shorting of their equity securities. (“Naked shorting” is the sale of a stock that you don’t own in anticipation of buying or “covering” this position at a future date and a lower price for a profit.) The Securities & Exchange Commission, the Federal Reserve, and the Secretary of the Treasury joined forces to suspend “naked shorting” of Freddie, Fannie, and 17 other financial institutions, but the suspension was only temporary. During the early portion of the suspension period (July 11, 2008, through July 23, 2008), nearly one-third of a trillion dollars of market capitalization recovery occurred for these financial institutions.

Stabilizing Residential Housing Values and Stimulating Demand

One of many possible solutions might include a reduction in the depreciable lives for residential housing. Increases in depreciation expense increase the depreciation tax shield, after-tax cash flow, and net present values for long-lived assets. While this may not solve the problem for homeowners, the consensus in the business and general press is that home foreclosures and mortgage defaults combined with the increase of these nonperforming loans in lenders’ portfolios suggests that many of those approved for these troubled loans simply weren’t economically able to purchase these homes at the time these mortgages were approved. Therefore, it appears that an insufficient number of creditworthy homeowners may be available to absorb the increased inventory of residential housing, and the only alternative may be to provide fiscal policy-based economic incentives to investors to absorb the surplus supply for the near term. Perhaps it’s merely a question of the “form” of the bailout: (1) a tax-incentive-based fiscal policy measure or (2) direct governmental ownership of Fannie and Freddie.

A. J. Cataldo, II, CMA, CPA, Ph.D., is a professor of accounting in the School of Business and Public Affairs at West Chester University, West Chester, Pa. He can be contacted at acataldo@wcupa.edu. Anthony P. Curatola is the Joseph F. Ford Professor of Accounting at Drexel University in Philadelphia, Pa. You can reach Tony at (215) 895-1453 or curatola@drexel.edu. © 2008 A. P. Curatola.

Project Questions

1. Fannie Mae and Freddie Mac are GSEs. Define GSE with a brief explanation. (10%)

2. To slow the decline of market values of Fannie Mae, Freddie Mac, and 17 other financial firms, the Securities and Exchange Commission (SEC) suspended naked shorting for a short period.

a. What is a long position in a stock? (5%)

b. What is a short position in a stock? (5%)

c. What is a naked short position in a stock? (Distinguish between a short and a naked short.) (10%)

d. Are retail investors or traders permitted to naked short a stock? (10%)

e. Who is permitted to naked short a stock (assuming there has been no suspension of this practice)? (5%)

3. Following the first SEC suspension of naked shorting (post–June 2008), did other nations follow this practice? (5%)

3. If not, explain why. If so, list a few. (5%)

4. When the temporary suspension of naked shorting was imposed by the SEC, stock prices increased, due to a “short squeeze.” Explain the term “short squeeze.” (10%)

5. The problems with Fannie Mae, Freddie Mac and other financial institutions were said to have been caused by the securitization of risky mortgages issued to uncreditworthy borrowers along with credit default swaps to insure these risky mortgages. The credit default swaps weren’t capitalized—there was nothing available to pay off on these credit default swaps, so when the borrower defaulted on the mortgage and the credit default swap was to be “cashed in,” there was nothing available, and these securitized mortgages became worthless.

5. Worldwide, what’s the approximate value of credit default swaps in circulation during this period? (5%)

5. How did this amount compare to U.S. and worldwide gross domestic product (GDP) during this period? (5%)

6. In what currency is oil traded? (5%)

7. In what currency are credit default swaps traded? (5%)

8. Will the U.S. dollar remain the currency of choice? (5%)

9. Have any nations called for a switch from the U.S. dollar? (10%)

Writing Guidelines

1. Type your submission, double-spaced, in a standard print font, size 12. Use a standard document format with 1-inch margins. (Do not use any fancy or cursive fonts.)

2. Include the following information at the top of your paper:

2. Name and complete mailing address

2. Student number

2. Course title and number (International Business, BUS 430)

2. Project number (50067000)

3. Read the assignment carefully and answer each question. Use proper citation in either APA or MLA style.

4. Be specific. Limit your submission to the questions asked and issues mentioned.

5. Include a reference page in either APA or MLA style. On this page, list websites, journals, and all other references used in preparing the submission.

6. Proofread your work carefully. Check for correct spelling, grammar, punctuation, and capitalization.

Grading Criteria

Your project will be evaluated according to the following criteria:

· Content                                       80 percent

· Written communication              10 percent

· Format                                        10 percent

Here’s a brief explanation of each of these points.

Content

The student

· Provides clear answers to the assigned questions

· Addresses the questions in complete sentences, not just simple yes-or-no statements

· Supports his or her opinion by citing specific information from websites and any other references using correct APA or MLA guidelines for citations and references

· Stays focused on the assigned issues

· Writes in his or her own words and uses quotation marks to indicate direct quotations

Written Communication

The student

· Answers each question in one or more complete sentences

· Uses correct grammar, spelling, punctuation, and sentence structure

· Provides clear organization when necessary (for example, uses words like first, however, on the other hand, and so on, consequently, since, next, and when)

· Makes sure the project contains no typographical errors

 
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case written assignment is on Arcadian Microarray Technologies, In. (Case 44). 

This case written assignment is on Arcadian Microarray Technologies, In. (Case 44).

Report Requirements:

·       Cover sheet with case name, date, team number and team members;

·       One or two page written report analyzing questions given; and

·       Exhibit with any financials, ratios, charts/graphs that you address in your report.

Your analysis should cover the following concerns in Arcadian Microarray Technologies:

  1.  Regarding the cash flow forecasts in case Exhibit 5, at what point in the future would you set the forecast horizon for the three investments? Why? More generally, what should determine when you stop forecasting annual cash flows and estimate a terminal value?
  2. Estimate other terminal values based on alternate estimation approaches. From these various estimates, please triangulate toward a single composite estimate of terminal value for each of Sierra Capital and Arcadian’s forecasts.
  3. What is the resulting present value (PV) of cash flows under Sierra Capital and Arcadian’s outlook?

How significant was TV in creating the difference between the two present value estimates?

3.  As a general matter in valuation work, how much attention should terminal value garner? What short list of questions about TV could you keep on hand in case a client asked you to opine on a valuation of that company?

 
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A report on wrongdoing at JP Morgan Chase

1. The Senate recently released a report on wrongdoing at JP Morgan Chase. It found that bank executives lied to investors and the public. Also, traders, with the knowledge of top management, changed risk limits to facilitate more trading and then violated even these higher limits. Executives revalued the bank’s investment portfolio to reduce apparent losses. JP Morgan’s internal investigation failed to find this wrongdoing. Into what ethics traps did these JP Morgan employees fall? What options did the executives and traders have for dealing with this wrongdoing?

2. Located in Bath, Maine, Bath Iron Works builds high tech warships for the Navy. Winning Navy contracts is crucial to the company’s success—it means jobs for the community and profits for the shareholders. Navy officials held a meeting at Bath’s offices with its executives and those of a competitor to review the specs for an upcoming bid. Both companies desperately wanted to win the contract. After the meeting, a Bath worker realized that one of the Navy officials had left a folder on a chair labeled: “Business Sensitive.” It contained information about the competitors’ bid that would be a huge advantage to Bath. William Haggett, the Bath CEO, was notified about the file just as he was walking out the door to give a luncheon speech. What should he do? What pitfalls did he face? What result if he considered Mill, Kant, or the Front Page test?

3. A group of medical schools conducted a study on very premature babies—those born between 24 and 27 weeks of gestation (instead of the normal 40 weeks). These children face a high risk of blindness and death. The goal of the study was to determine which level of oxygen in a baby’s incubator produced the best results. Before enrolling families in the study, the investigators did not tell them that being in the study could increase their child’s risk of blindness or death. The study made some important discoveries: the level at which too much oxygen increased the risk of blindness and level at which too little increased the risk of death. What would Mill and Kant say about this decision not to tell the families?

4. Because Raina processes payroll at her company, she knows how much everyone earns, including the top executives. This information could make for some good gossip, but she has kept it all completely secret. She just found out, however, that her boss knew that it is against company policy for her to do payroll for C-level employees. Yesterday, the CEO went to her boss to confirm that he, the boss, was personally doing the processing for top management. Her boss lied to the CEO and said that he was. Then he begged Raina not to tell the truth if the CEO checked with her. Raina just got a message that the CEO wants to see her. What does she say if he asks about the payroll?

1. YOU BE THE JUDGE WRITING PROBLEM Scott Fane was a CPA licensed to practice in New Jersey and Florida. He built his New Jersey practice by making unsolicited phone calls to executives. When he moved to Florida, the Board of Accountancy there prohibited him (and all CPAs) from personally soliciting new business. Fane sued. Does the First Amendment force Florida to forgo foreclosing Fane’s phoning? Argument for Fane: The Florida regulation violates the First Amendment, which protects commercial speech. Fane was not saying anything false or misleading, but was just trying to secure business. This is an unreasonable regulation, designed to keep newcomers out of the marketplace and maintain steady business and high prices for established CPAs. Argument for the Florida Board of Accountancy: Commercial speech deserves—and gets—a lower level of protection than other speech. This regulation is a reasonable method of ensuring that the level of CPA work in our state remains high. CPAs who personally solicit clients are obviously in need of business. They are more likely to bend legal and ethical rules to obtain clients and keep them happy, and will lower the standards throughout the state.

2. President George H. W. Bush insisted that he had the power to send American troops into combat in the Middle East, without congressional assent. Yet before authorizing force in Operation Desert Storm, he secured congressional authorization. President Bill Clinton stated that he was prepared to invade Haiti without a congressional vote. Yet he bargained hard to avoid an invasion, and ultimately American troops entered without the use of force. Why the seeming doubletalk by both Presidents?

3. In the landmark 1965 case of Griswold v. Connecticut, the Supreme Court examined a Connecticut statute that made it a crime for any person to use contraception. The majority declared the law an unconstitutional violation of the right of privacy. Justice Black dissented, saying, “I do not to any extent whatever base my view that this Connecticut law is constitutional on a belief that the law is wise or that its policy is a good one. [It] is every bit as offensive to me as it is to the majority. [There is no criticism by the majority of this law] to which I cannot subscribe—except their conclusion that the evil qualities they see in the law make it unconstitutional.” What legal doctrines are involved here? Why did Justice Black distinguish between his personal views on the statute and the power of the Court to overturn it?

4. Gilleo opposed American participation in the war in the Persian Gulf. She displayed a large sign on her front lawn that read, “Say No to War in the Persian Gulf, Call Congress Now.” The city of Ladue prohibited signs on front lawns and Gilleo sued. The city claimed that it was regulating “time, place, and manner.” Explain that statement, and decide who should win.

 
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Discussion: The Systems Development Life Cycle and the Nurse Informaticist

Discussion: The Systems Development Life Cycle and the Nurse Informaticist

The systems development life cycle (SDLC) is a model for planning and implementing change within an organization. It is important for many individuals to be represented in the process, especially the end users of the system or the employees who must live with the change. As informatics become more and more widespread throughout the health care field, collaboration between information technology (IT) professionals and health care practitioners is becoming increasingly important. The nurse informaticist is able to combine the perspective of the information technology side with the clinical nursing perspective.

While the titles and specific responsibilities of nurse informaticists vary across organizations and practice settings, the fundamental purpose of the role remains the same. Nurse informaticists synthesize their knowledge of how technology can improve health care with an understanding of clinical practice and workflow. This is why nurse informaticists can be instrumental in facilitating the SDLC for informatics in health care. For this Discussion, you examine the relationship between the nurse informaticist and the use of the SDLC.

To prepare:

Review the information in this week’s Learning Resources on the SDLC and the role of the nurse informaticist. Reflect on Chapter 1 of the Dennis, Wixom, and Roth course text and consider how the information about the systems analyst role translates into nursing and health care.

Consider a recent change in your organization related to the implementation of a new technology or system. How was this change handled? What was the general SDLC process? Who was involved, and what were the outcomes?

Identify whether your organization (or one with which you are familiar) has a formal title or position for the nurse informaticist. This position may be called by a different name, such as nurse informatics specialist or informatics analyst, so be sure to review the position description.

If your organization has a position for the nurse informaticist, what are the responsibilities of that position? If your organization does not have such a position, conduct research in the Walden Library and at credible online sources on the role of the nurse informaticist.

Reflect on the role of the nurse informaticist in the overall health care field. How is this position connected to the SDLC? Assess the benefits of having this specialized position within health care organizations and involving the nurse informaticist in the SDLC.

Post by tomorrow 8/30/16 550 words in APA format with a minimum of 3 references from the list provided under Required Readings. Apply the level 1 headings as numbered below:

1) A description of how the systems development life cycle is utilized in your organization (Hospital), or in one with which you are familiar, and assess its effectiveness.

2) Assess the role of the nurse informaticist in your organization. If the nurse informaticist is not a current position within your organization, provide a description of the generally accepted role of the nurse informaticist based on this week’s Learning Resources and your own research.

3) Explain why it is important for the nurse informaticist to be involved in the SDLC process and the overall organizational benefits of having such involvement.

Required Readings

Dennis, A., Wixom, B. H., & Roth, R. M. (2015). Systems analysis and design (6th ed.). Hoboken, NJ: Wiley.

Chapter 1, “The Systems Analyst and Information Systems Development” (pp. 1–34)

In this chapter, the authors clarify the relationship between systems analysts and information systems development. The chapter also covers the basic business applications of information systems.

McGonigle, D., & Mastrian, K. G. (2015). Nursing informatics and the foundation of knowledge (3rd ed.). Burlington, MA: Jones and Bartlett Learning.

Chapter 10, “Systems Development Life Cycle: Nursing Informatics and Organizational Decision Making”

Chapter 11, “Administrative Information Systems”

Quality, organizational decision making is a requisite to successful advancements in technology. This chapter explores how workplaces respond to the necessity for improved information systems.

Anderson, C., & Sensmeier, J. (2011). Nursing informatics scope of practice expands, salaries increase. Computers, Informatics, Nursing, 29(5), 319–320.

Retrieved from the Walden Library databases.

This article assesses the growing need for informaticists in the health care industry. The combination of clinical and information technology experience that informaticists possess makes them invaluable in assisting in the health care industry’s transition into a heavier use of information systems.

Houston, S. M. (2012). Nursing’s role in IT projects. Nursing Management, 43(1), 18–19.

Retrieved from the Walden Library databases.

The societal advancements of information technology (IT) are major factors in the governance of health care organizations. This article gives an overview of how nurse informaticists blend their clinical know-how with IT to improve workflow and patient care.

McLane, S., & Turley, J. P. (2011). Informaticians: How they may benefit your healthcare organization. The Journal of Nursing Administration, 41(1), 29–35.

Retrieved from the Walden Library databases.

Nursing informaticists help guide the implementation of information systems into health care organizations. The authors of this article evaluate how informaticists effect change in management and improve meaningful use in nursing practice.

Prestigiacomo, J. (2012). The rise of the senior nurse informaticist. Healthcare Informatics, 29(2), 38–43.

Retrieved from the Walden Library databases.

The author of this article highlights the conditions of the health care industry and its growing reliance on data-driven decision making. Nurse informaticists are important in this transition, playing a major role in the development and utilization of electronic health records (EHRs).

Warm, D., & Thomas, B. (2011). A review of the effectiveness of the clinical informaticist role. Nursing Standard, 25(44), 35–38.

Retrieved from the Walden Library databases.

Health care organizations rely heavily on information management and technology for organizational maintenance and patient care. This article examines the clinical informaticist’s role in facilitating the implementation of health information technology and spearheading clinical risk management.

 
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