Question 1
Data warehouses are good reserves for information that managers need to make vital decisions regarding a business. Managers are able to select data of their choice and use it appropriately in decision making. End users of database systems should be involved in the selection of the systems because they also need to interact and make use of it. The most important thing is for them to be able to use the systems to gather information and whenever necessary.
Respond to this...Hagens Berman SobolSharpiro LLP alerts investors in Diamond Resorts International INC., that it is investigating possible securities law violations relating to potential accounting practices. "Diamond Resort announced on August 1, 2016 that it will delay the release of its second quarter 2016 results because its independent public accountant has expressed the view that the company may not have correctly applied the relative sales value inventory valuation model in the preparation of its consolidated financial statement for 2014 and subsequent periods (Business wire, 2016.)" Also the chairman sold shares and received nearly $19 million in gross proceeds, his timing is suspicious.
I found this article interesting because in the event of one possible screw up, it could completely ruin a company. I know this could take years to do but if you don't catch that one little mistake now, it could have a snowball effect and ruin the company and yourself in the process.
https://finance.yahoo.com/news/hagens-berman-investigating-diamond-resorts-133000934.html;_ylt=AwrC2Q6JLaFX3HYA6HHQtDMD;_ylu=X3oDMTBydDI5cXVuBGNvbG8DYmYxBHBvcwM2BHZ0aWQDBHNlYwNzcg--
Respond to this... I found this article interesting because it deals with changes in foreign currency and adjustments so the years can be compared. Normally we don't think about those things as most of the companies we deal with are just in the US. This is important so when you compare you are looking at apples to apples rather then oranges.
https://www.businesswire.com/news/home/20160802005385/en/Pitney-Bowes-Announces-Quarter-2016-Financial-Results
Question 2
There are several key building blocks used in creating and maintaining costing systems today. These include:
• Cost objects
• Direct and indirect costs
• Cost pools
• Cost allocation bases
Using these building blocks, share an example where you could use these elements to support both a job costing system and a process costing system. Be sure you include the building blocks you would use in your example and why.
Respond to this...The example I choose is my Breathe Easy product which is a hard plastic assembly that is manufactured for use in the home. The cost object is the assembly itself. The direct costs are the plastic that must be purchased, melted down and molded into the shape we need. The indirect costs are the costs related to the machine that molds the plastic. The cost pool are those fixed costs necessary for production such as building rental and requisite labor hours for production. The cost allocation is used to allocate all the expenses to the cost object (the finished good).
Question 3
Why is wireless networking (Wi-Fi) becoming so widely used in both companies and households? What value can it add to a business? Please provide a specific example.
Respond to this... I have found wi-fi to be essential to my daily lifestyle, I amusing it right now on my laptop for this course, my room mateis using it for call of duty, and my girlfriend is streaming netflix on my desktop. We are all connected at the same time over the same network for different reasons and it is great. I counted in my house and there are 15 devices which can connect right now and I have a feeling the number will continue to grow.
A business which offers wi-fi used to be considered a stand out. Groups of people flocked to coffee shops across the country to connect to networks for both work and pleasure. Tomorrow after work I will be searching for such a shop to connect until I can meet my dad two hours later. A business that can offer me a connection and a power outlet will gain my business.
Consumers expect to be able to connect at almost any public place now. Where I work we did not offer it until recently and it hindered sales. I am excited now to be with a company which offers it at all locations. An advantage to this feature is that it will keep my customers who want to use it on location longer. Our business already had it for the devices we used to connect to our network, the difference is now we have a public channel.
Wi-fi saves our company a lot of money as we operate. We can now transmit data such as orders we write from any location, look up product information, and upload almost anything we want to company sites.