Inventory count strategies

An important principle of accounting is that asset inventory needs to be correctly valued to ensure that the financial statements of the institution are accurate. Errors is recording the value of ending inventory in one fiscal year result in errors to published financial statements for that year as well as the subsequent fiscal year. Therefore, it is important that accurate physical counts be periodically taken. It is equally important that any system being used to generate inventory valuation, reordering or management reports be based on consistently accurate on-hand balances. At the foundation of conducting an accurate physical count of an inventory is a comprehensive understanding of the process coupled with a written plan. This article presents a guideline of the physical count processes involved in a traditional double-count approach.     

Reengineering materiel management using computer technology

The Materiel Management Department in today's hospital is in a uniquely advantageous position. It can better support the hospital's mission by applying current techniques in material management systems automation together with current computing technology as part of a broad-based reengineering process. Materiel management executives, suppliers, software developers, and hardware manufacturers now have all the necessary tools to create and implement a flexible, cost-effective, complete, paperless system. The model system offers tremendous advantages in terms of increased productivity and reduced total cost. This article discusses the process and the tools and techniques that should be considered.     

Leaky Geopolitics: The Ruptures and Transgressions of WikiLeaks

The unfurling of violent rhetoric and the show of force that has lead to the arrest, imprisonment, and impending extradition of WikiLeaks founder, Julian Assange, serve as an exemplary moment in demonstrating state-sanctioned violence. Since the cables began leaking in November 2010, the violent reaction to WikiLeaks evidenced by numerous political pundits calling for Assange's assassination or execution, and the movement within the US to have WikiLeaks designated a ‘foreign terrorist organization’, amount to a profound showing of authoritarianism. The ‘Wikigate’ scandal thus represents an important occasion to take stock and think critically about what this case tells us about the nature of sovereign power, freedom of information, the limits of democracy, and importantly, the violence of the state when it attempts to manage these considerations. This forum explores a series of challenges inspired by WikiLeaks, which we hope will prompt further debate and reflection within critical geopolitics.     

Impact of Formulas,Language and Instruction on Student Performance on Cost-Volume-Profit Problems

Abstract

This study investigated how three factors impacted performance on cost-volume-profit homework problems: language, formula use, and instruction. Students enrolled in Introduction to Financial Accounting (the first principles of accounting course) and Managerial Accounting (the second principles of accounting course) from eight different US colleges completed homework problems presented in everyday language or accounting language, with or without a formula ‘cheat sheet’ on the screen, and with or without prior instruction. Scores on formula-facilitated questions (those solvable by use of traditional cost-volume-profit formulas) were contrasted with scores on application questions, novel word problems requiring students to apply their knowledge about how cost behavior and sales impact profits. Students performed better on assignments phrased in everyday language. Students with formulas provided during homework completed more formula-facilitated questions correctly but some evidence indicated that they did worse on application questions; more work is needed in this area. Instruction effects were very small. Participants without instruction performed just as well as instructed students when problems were presented in everyday language or if formulas were provided.