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On March 1, 2017, a damaged pipeline at a Royal Blue deep water production field, about 100 miles off the Louisiana coast, spilled what's been officially estimated at 90,000 gallons of oil into the Gulf of Mexico before the leak was stopped. As of March 15, 2017 (when the December 31, 2016 financial statements were completed and sent to the publisher for printing and public distribution), no suits had been filed or claims asserted against the company because of the spill. The company fully anticipates that suits will be filed and claims asserted for damages. Because many of the casualties were uninsured and the company is considered at fault, Royal Blue will have to cover the damages from its own resources. Respond to the following prompts:
What conditions must exist before a loss contingency can be recorded in the accounts?
Discuss fully the accounting treatment and disclosures that should be accorded the casualty and related contingent losses in the financial statements dated December 31, 2017.
Discuss the impact of a strong culture on organization and managers.
Essay question : Knowing the book "The Rise of the Robots' by Martin Ford, do you think robots will bring about a change in the world on a scale similar to that of the steam engine, electricity or the internet? What do the rise of the robots mean for..
Each week a sample of 100 residents is questioned on their feelings towards project. Results to date are shown below. Analyze this data using an appropriate control chart with a 5% risk of Type I error.
Illustrate what is the minimum-price order quantity for the shoes. Illustrate what are the annual savings of your inventory policy over the policy presently used.
You are a consultant specializing in business intelligence for small businesses.
a major producer of passenger tires has launched an advertising campaign in which it is trying to market windshield
What perceptual problems do managers need to overcome with failures? How can these perceptual problems be minimized? Describe the experiential learning process that companies, mentioned in this case study, apply to learn from their mistakes and failu..
Discuss the differences between job analysis and job evaluation. How do these practices help establish internally consistent job structures?
You are a social worker at an adult day care center. At times, your clients end up with broken hips, diseases such as diabetes, obesity, dementia-type disorders, and some physical disabilities. Who is the macro client or system in this vignette and w..
Nearly two decades after the publication of the Stogdill (1974) review, Edwin Locke and several of his graduate students took another look at the trait literature. What did Kirkpatrick and Locke (1991) mean when they said that traits appear to endow ..
Present at least 3 data collection methods for organizational diagnosis. Discuss Elucidate how data collecting is used in the opening stages of a change process.
Star Chevrolet either did not know that Green was entitled to his money back, or knew but refused to honor it. Why was that particularly costly mistake by Star?
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