ENV100H1 Chapter Notes -James Lovelock, Electron Capture Detector

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pucecod518

24 May 2012

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UTSG

Department

School of Environment

Course

ENV100H1

Professor

Stephen Scharper

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ENV100H1 Full Course Notes

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Astronauts have physically seen the world and we"ve seen diff features in nature but this doesn"t prove mother earth is alive. Electron capture detector notable for its exquisite sensitivity in the detection of traces of certain chemical substances. This sensitivity 1st made possible the discovery of pesticide residues in animals. The quest for gaia is an attempt to find the largest living creature on earth. The most probable cause of our close minds on the subject of gaia is that we already have our own interpretation and recognition of it. Anything living may be edible, lethal(dangerous), friendly, aggressive, or a potential mate, Our automatic recognition system appears to have paralysed our capacity in defining life . I. o. w life is one of those processes which are found whenever there is an abundant flow of energy. It"s characterized by a tendency to shape or form itself as it consumes, but to do so it must always excrete low-grade products to the surroundings.

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DSY Cable Inc. (the âCompanyâ), a publicly traded company,manufactures and sells coaxial and fiber-optical cable. DSY iscontemplating two separate transactions for which it is evaluatingthe appropriate revenue recognition.
Transaction 1
Loon Inc., a customer of DSY, has entered into a binding writtenagreement to purchase
1,000 feet of 18 American wire gage (AWG) cable for $3 per foot.Because Loon is
constructing a new warehouse, it is unable to take delivery of thecable and has requested
in writing that DSY store the cable in its warehouse untilconstruction of Loonâs warehouse
is completed. Loonâs warehouse will be completed three months fromthe time of purchase,
at which time Loon is required to take delivery of the cable. DSYstores 18 AWG cable in
10,000-foot spools (spools of cable are considered finished goodsand ready for shipment).
DSY will not physically segregate the cable that Loon willpurchase; rather, the Company
will designate the quantity in its inventory tracking system asâsold,â thereby preventing
the use of the cable to fulfill other customer orders. In otherwords, DSY will âvirtuallyâ
segregate the inventory. DSY and its auditors have concluded thefollowing with respect to
the arrangement with Loon:
ï· Risks of ownership of the cable have passed to Loon.
ï· Loon has a substantial business purpose for requesting DSY tohold the cable at its
warehouse (waiting on completion of the warehouse).
ï· DSY does not have additional performance obligations with respectto the cable
purchased by Loon.
DSY concluded that it is appropriate to recognize revenue forTransaction 1 before the date
on which Loon takes delivery of the 1,000 feet of 18 AWG coaxialcable.
Transaction 2
Fiber Communication Inc., a customer of DSY, entered into a bindingwritten agreement to
purchase 1,500 feet of fiber-optical cable for $3 per foot. FiberCommunicationâs shipping
terms are freight on board (FOB) shipping point, and DSY collectedpayment before the
order shipped. Title transfers upon delivery to the carrier, andFiber Communication will
insure the product while it is in transit. Instead of using athird-party shipper (e.g., FedEx,
2
UPS), DSY elected to use its own logistics subsidiary, TransNetInc.* to deliver the cable to
Fiber Communication Inc.
Requirements
1. Is it appropriate for DSY to recognize revenue associated withTransaction 1 before
the date on which Loon takes delivery of the 1,000 feet of 18 AWGcoaxial cable?
Identify and research the existing guidance on revenue recognition(i.e., NOT FASB
ASC 606). Based on your research and interpretation of theguidance, develop two
or more alternative accounting treatments and discuss thealternative that you
believe is most appropriate.
2. Is it appropriate to recognize revenue upon transfer of theinventory to the carrier
in Transaction 2? Identify and research the existing guidance onrevenue
recognition. Based on your research and interpretation of theguidance, develop two
or more alternative accounting treatments and discuss thealternative that you
believe is most appropriate.
3. The new revenue recognition guidance, FASB ASC 606, Revenue FromContracts
With Customers, provides five steps to recognizing revenue; step 5requires an
entity to ârecognize revenue when (or as) the entity satisfies aperformance
obligation.â Describe in general the key principles of this step(and any applicable
implementation guidance) that would be relevant to determining howto recognize
revenue for the transactions described in this case. Please bespecific when
discussing the sections of FASB ASC 606 that are relevant to therevenue recognition
issues discussed in requirements 1 and 2. Also, be sure tocompletely discuss how
the revenue recognition for requirements 1 and 2 would be thesimilar or different
under FASB ASC 606 compared to the existing guidance on revenuerecognition.

Case Study #1: A Common Opportunistic Infection

Ben, a seven-year-old second grader, quickly finished his homework after school so he could play outside with his friend form next door. Since Ben had started coughing the day before, his mother insisted he wear his jacket. At bedtime, Ben was exhausted from his busy day. When kissing his forehead goodnight, Benâs mother noted that he felt a little warm. To help Ben sleep more comfortably since he was likely getting a cold, his mother gave him a dose of pediatric Tyenol, âPoor Ben,â she thought. âThree weeks ago he had the flu and now a cold is starting. He could really use a break.â

In the morning, Ben didnât come to the breakfast table when called. His mother found Ben still in bed, barely responsive, and extremely feverish. She immediately drove him to the walk-in clinic in their neighborhood. Benâs oral temperature was 40.8C (105.4F). IV fluids were started and an ambulance transported Ben to the nearest hospital.

In the hospital emergency room, Ben presented with the following viral signs: temperature = 41.9C (107.4F), pulse = 162 bpm, pulse ox = 90%, respirations = 24/minutes and labored, BP = 62/54 mmHg. Ben was completely unresponsive. His physical exam was remarkable for rales or âcracklesâ heard over both right and left lower lung fields. Bilateral chest radiographs were ordered and revealed infiltrates in the lower lobes of both lungs.

Preliminary lab results yielded a white blood cell count of 16,200 cells/mm^3 and a differential count with 74% neutrophils, including 18% bands. Respiratory acidosis was indicated by an arterial blood pH of 7.2. These results were immediately called from Benâs local hospital to his new facility and broad-spectrum IV antibiotic therapy was initiated.

9. Approximately 6 hours later, the clinical microbiologist examined the BAP and chocolate agar plates. What morphological features did she likely observe on the plates? Why were these two media types selected for culturing?

10. What results would you predict from the following tests?

Optochin

Catalase

Bacitracin

Bile solubility

Quellung reaction

11. What is the significance of the following laboratory results?

The WBC

High neutrophil count with elevated bands

Respiratory acidosis

Automated identification and sensitivity testing were initiated and the presumptive microbe identification called to the other facility to aid in treatment. Benâs attending physician was relieved to find that the CSF was sterile, as she had just initiated prophylactic antibiotic treatment of Benâs caregivers. Unfortunately, she reported that Benâs condition had continued to decline and he has been pronounced dead earlier that hour. She requested that identification/sensitivity data be forwarded upon completion so Benâs record could be finalized.

12. Why was Benâs physician relieved that the CSF was sterile? What possible infection was she considering?

13. Assuming Ben was receiving broad-spectrum IV antibiotic therapy that was effective against his infection, what reasons can you give to explain his rapid deterioration and eventual death when receiving an appropriate empiric therapy?

Within 6 hours, the Virek analyzer confirmed the identity of this microbe and indicated its sensitivity to penicillin, cephalosporins, and fluoroquinolones. While Benâs attending physician was pleased that her staff had not been exposed to a resistant microbe, she was frustrated to have lost a young patient to one so sensitive to standard antibiotics.

14. Were there any predisposing factors that put Ben at greater risk for this infection?

Need Answers and why:

12. _____ is an example of a monetary incentiveused to control a manager's tendency to shirk and wasteresources.

a. A recognition program

b. Job enrichment

c. A promotion

13. Which of the following is true ofparticipative budgeting?

a. It imposes budgets on subordinate managers.

b. It fosters a sense of responsibility among managers.

d. It discourages creativity.

14. In March, Burlywood had the followingresults:

Production:

Units in process, March 1, 80% complete	36,000 units
Units completed and transferred out	120,000 units
Units in process, March 31, 40% complete	44,500 units
Costs:
Work in process, March 1	$11,600
Costs added during March	$32,000

Determine the total cost to be assigned using the first-in,first-out costing method.

a. $55,200

c. $48,080

d. $52,320

9. In cost-volume-profit analysis, amultiple-product problem is converted into a single-product problemby:

a. determining the sales prices.

b. defining the features of the products.

c. determining the unit variable cost.

d. defining a particular sales mix inunits.

13. Which of the following is true ofsensitivity analysis?

a. It allows managers to vary costs, prices, and salesmix to show various possible break-even points.

b. It can be performed only when managers have accurate dataabout financial forecasts.

c. It provides accurate data about sales, contribution margin,and operating income without ambiguity.

d. It can be easily performed on hand with limited knowledge ofrevenue and cost systems.

1.Decisions that involve choosing betweendifferent alternatives that attempt to provide a competitiveadvantage over a particular time frame are called:

b. strategic decisions.

c. relevant decisions.

d. short-term decisions.

4. Which of the following is an example of adirect fixed cost?

a. Cost of a mold for a product

c. Cost of printing annual reports

d. Salary of a receptionist

10. Which of the following is true of targetpricing?

a. It aims to increase cost on redesigning the product duringthe production stage.

b. It requires the use of fewer materials, labor, and processesduring production, delivery and customer service.

c. It recognizes that only 50% of a product's cost becomescommitted by the time it reaches the design stage.

Budgets can be improved as performance measures by:

a. holding managers accountable for noncontrollable costs.

b. using fixed budgeting.

c. setting standards that are either too high or too low.

d. using participative budgeting.

_____ are an example of nonmonetary incentives used to enhance abudgetary control system.

a. Bonuses paid to managers

b. Salary increases to workers

c. Recognition programs

d. Promotions offered to supervisors

ENV100H1 Chapter Notes -James Lovelock, Electron Capture Detector

ENV100H1 Full Course Notes

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