Biovail Case Essay Example for Free

Biovail Case Essay In the case when ownership changes hands upon receipt of the product at the distributors facility (FOB destination), the second condition for revenue recognition under SAB101 has not been met. In this case the company would not recognize revenue because delivery did not occur. Part 3: The shipment left Biovail on September 30, 2003, which is in the 3rd quarter. Under FOB shipping point guidelines it would be correct to recognize revenue for the shipment in the Q3 report. Assuming revenue associated with this shipment was included in Q3 earnings as originally stated, no further impact. Under the FOB destination guidelines it would be incorrect to recognize revenue. In that scenario the truck does not reach it’s destination in the 3rd quarter and thus no shipment is made and revenue should not be recorded. Assuming that this shipment would take longer than 1 day to reach the distributor, based on the fact that it is in Chicago on 10/1, this shipment shouldn’t have been planned as revenue in quarter three anyway. The accident will have an impact on Q4 revenue. Part 4: Biovail’s treatment of analysts who cover their stock is concerning. It is still unclear whether Treppel was correct or too harsh, but Biovail’s fierce retaliation against Treppel highlights their willingness to go to great lengths to suppress any negative analyst reports. This combined with, the lack of clarity around their accounting practices and conflicting arguments from their distributor lends us to question their integrity. This would create a difficult environment for an analyst to create a unbiased report and significantly discourages us to be an analyst covering this company.

Distress and Individualism: Comparing Douglass and de la Cruz Essay

Frederick Douglass once said, â€Å"Where justice is denied, where poverty is enforced, where ignorance prevails, and where any one class is made to feel that society is an organized conspiracy to oppress, rob and degrade them, neither persons nor property will be safe† (Brainy Quotes 1). Many people believe in order for society to be safe and homeostatic, the economy and irrational mentalities must change. Prior to comparing and contrasting Frederick Douglass and Sor Juana de la Cruz, brief summaries of the literary works "Reply to Sor Filotea de la Cruz" and Narrative of the Life of Frederick Douglass will be given. Sor Juana de la Cruz and Frederick Douglass have several notable similarities and differences. The comparisons that will be discussed are based on the following human conditions; fear, identity, and time period. Sor Juana de la Cruz is born into a wealthy family in 1648 that lived near Mexico City, Mexico. After being a part of the Viceregal court and a lady in waiting, Cruz begins her spiritual journey and joins the convent. Here, Cruz explores both secular and non-secular studies. She is an exceptionally talented writer with a passion for reading, learning, and writing. She is scolded for the information she writes and is told to focus exclusively on religious dogma. Soon after the Bishop of Pubela reads one of her letters, he publishes it (without her knowing), and she responds with a respectful yet sarcastic letter (Lawall and Chinua 155-156). Cruz’s â€Å"Reply to Sor Filotea de la Cruz† was written during the period of Enlightenment of Europe (1660- 1770). This era in Europe casted an opaque shadow over women’s rights to educate themselves and self-expression. Sor Juana’s piece however is both inspirational and empoweri... ...e of Frederick Douglass. Atlanta: Kessinger Publishing, 2008. 8. Print. â€Å"Frederick Douglass Quotes.† ThinkExist. 2012. Web. 16 April 2012. Fulton, Terry. â€Å"The Church in the Age of Enlightenment and Revolution†. Verbal Conscience. March 2012. Web. 16 April 2012. Lawall, Sarah, and Chinua Achebe. The Norton Anthology: World Literature. Shorter Second Edition. 2. New York: W.W. Norton & Company Inc., 2009. 157. Print. "The Emancipation Proclamation." The center for legislative archives. The U.S. National Archives and Records Administration. 2012. Web. 16 April 2012. .

Toyota’s Production Process

Many companies have tried to understand and replicate the production process at the various Toyota facilities, but until you stop just looking at the surface and take a deeper look you won’t fully understand all the positive aspects to the production line. Toyota is known for their distinctive practices and precision work throughout the years and their amazing use of internal benchmarking to help the company continue to move forward. Because of the positives within the company’s dynamics Toyota has comfortably been on top of other companies in their industry.Toyota is not shy when it comes to show and giving ideas to other manufacturers to improve their own processes, but very few actually accomplish the success that Toyota has. Not because it is too trying to do, but because the manufacturers that come into to evaluate confuse the tools and practices they see on their plant visits with the system itself. The process at Toyota isn’t a process that you can simply look at and understand; you truly have to get a closer look and really dissect it.A study was done to understand the process completely including service functions like equipment, maintenance, workers’ training and supervision. All of these sections were taken into a count because the service functions help and are responsible for the whole process moving the way that it does. Toyota, like other manufacturers has many specifications set to create everything correctly, but only thing that Toyota does to get those specifications where they need to be is using a hypothesis method. It is a rigorous problem solving method, but it has shown to be very beneficial to the company.The article summaries the four rules that they believe to underlie the Toyota production system. Rule 1: How People Work; all work shall be highly specified as to content, sequence, timing and outcome. This rule is implemented well because it doesn’t just target senior workers or supervisors; it is set in place to be accomplished by all workers no matter the hierarchical role. Although this may seem obvious that a manufacturer would complete every task this way it actually is the case at most companies.Other companies are completing the tasks presented, but they aren’t following through and making as precise measurement and protocols as Toyota does. For each ‘station’ there are timings to when things should be done to complete in a timely manner while making sure things are done correctly. The detailed step through every process keeps Toyota moving smoothly and efficiently. Rule 2: How people Connect; every customer-supplier connection must be direct, and there must be an unambiguous yes-or-no way to send requests and receive responses.Toyota has created outstanding relationships between each person and the individual who is responsible for providing that person with each specific good or service. An outcome to this is that there is no discrepancy with the tim ing of shipment and who is making the shipments. This rule extends to the consumer as well. For instance if something is wrong with the product there is no problem figuring out who will assist with the problem that arose. The number of workers within a team is set out based on the number of problems that may occur during the process.Toyota exemplifies a direct and effective method through each step of the development process. It is designed that people are suppose to respond within a certain time frame and with this provision it doesn’t allow for errors to occur and if they do arise then it will be dealt with timely manner. Toyota stresses helping others through the process so it is everyone’s responsibility for things to be completed on time and with no errors. If help is needed, help must be received in the time it would to complete the task that is in need of some help.By doing this problems are hidden or pushed to the side, but rather called attention to and fixed as soon as possible. Rule 3: How the Production Line is Constructed; the pathway for every product and service must be simple and direct. The production line links each person who contributes to the production and delivery of the product, form the Toyota factory. This rule simply means that the process isn’t just moved from person to person, but more specific. The job is moved from specific person to specific person to make it more efficient and reliable.When this is applied to every ‘station’ of the development process there is less of a chance of error or variance among the workers. This doesn’t slow down the process by any means; instead it actually speeds up the process because the process doesn’t need to be stopped for fixing or maintenance. Within Toyota’s plants the pathway for assistance is three, four or even five links long, which connects the workers to the floor managers. In the past Toyota experimented with the method of just mov ing the process to the next available person, but this system showed to not benefit Toyota’s production line.When Toyota implemented the idea of moving it to a specified person rather than just the next person the process was more productive and less likely to cause error. Rule 4: How to Improve; any improvement must be made in accordance with the scientific method, under the guidance of a teacher, at the lowest possible level in the organization. Toyota really stress the fact that training is necessary to complete any task, not just by senior employees, but an actual training clinic. In the Toyota plant for example workers were adjusting and perfecting their problem solving skills by redesigning their own work.Managers were training the employees to frame the problem better and to formulate and test a hypothesis, which is an example of the scientific method. If the employees in the company think that the process could be more productive if they were to change something in th e process then it is expected, by the managers to explain the process change and the logic behind why it would work better than the process before. Frontline workers make the improvements to their own jobs, and their supervisors provide direction and assistance as teachers.This process remains the same even at higher levels and more complex jobs within the company. This means that the learning and the problem solving done takes place in all areas of the company not just one. When looking at Toyota’s production system you can see a direct correlation between their process and a lean development process. A lean development process is about doing more with less and doing it with speed and right the first time around. This is exactly what Toyota exemplifies.There are four distinct components to lean processing; customer relationships, production development, order fulfillment and supply chain. Those four components coincide with the four rules set out in the article. Toyota compl etely uses the less is more policy by using less time, inventory, space, people and money as stated in lean processing. Because the line runs smoothly at Toyota it takes less time to actually assemble products and this is directly related to the specifications set out at each ‘station’ and the team work that is involved with finishing the product.Toyota saves a lot of money as well because they aren’t going back and fixing the process repeatedly and the chances of errors are rare. At Toyota they also try to have a limited number of inventories because inventory costs a lot of money for a company. Instead of having inventory Toyota uses the just in time method. This method is used to make products to order right when the customer needs the product. Overall the process at Toyota is efficient and hard to immolate. Toyota is a prime example of a productive lean process that has shown to help a company and put the company on top in the industry.

Biography of Andy Warhol, Icon of Pop Art

Andy Warhol (born Andrew Warhola; Aug. 6, 1928–Feb. 22, 1987) was one of the most important artists of pop art, a genre that became popular in the second half of the 20th century. Though he is best remembered for his mass-produced paintings of Campbells soup cans, he created hundreds of other works ranging from commercial advertisements to films. His best-known work, including the soup cans, reflected his views on the banality that he saw in the commercial culture of America. Fast Facts; Andy Warhol Known For: Pop artAlso Known As: Andrew WarholaBorn: Aug. 6, 1928 in Pittsburgh, PennsylvaniaParents: Andrej and Julia WarholaDied: Feb. 22, 1987 in New York, New YorkEducation: Carnegie Institute of Technology (now Carnegie Mellon University)Published Works: Commercial illustrations, paintings, filmsï » ¿Notable Quote: I just happen to like ordinary things. When I paint them, I dont try to make them extraordinary. I just try to paint them ordinary-ordinary. Early Life and Education Andy Warhol was born on Aug. 6, 1928, in Pittsburgh, Pennsylvania, and grew up there with his older brothers, Paul and John, and his parents, Andrej and Julia Warhola, both of whom had emigrated from Czechoslovakia (now called Slovakia). Devout Byzantine Catholics, the family regularly attended Mass and observed their Eastern European heritage. Even as a young boy, Warhol liked to draw, color, and cut and paste pictures. His mother, who was also artistic, encouraged him by giving him a chocolate bar every time he finished a page in his coloring book. Elementary school was traumatic for Warhol, especially once he contracted Sydenhams chorea, also known as St. Vitus dance, a disease that attacks the nervous system and makes the sufferer shake uncontrollably. Warhol missed a lot of school during several month-long periods of bed rest. Additionally, large, pink blotches on Warhols skin, also from the disorder, didnt help his self-esteem or acceptance by other students. This led to nicknames such as â€Å"Spot† and â€Å"Andy the Red-Nosed Warhola† and a lifelong interest in clothing, wigs, cosmetics, and, later, plastic surgery in response to what he perceived as his flaws. During high school, Warhol took art classes there and at the Carnegie Institute (now the Carnegie Museum of Art). He was somewhat of an outcast because he was quiet, could always be found with a sketchbook in his hands, and had shockingly pale skin and white-blond hair. Warhol also loved to go to movies and started a collection of celebrity memorabilia, particularly autographed photos. A number of these pictures appeared in Warhols later artwork. Warhol graduated from high school and then went to the Carnegie Institute of Technology (now Carnegie Mellon University) in 1945, graduating in 1949 with a major in pictorial design. Blotted-Line Technique During college, Warhol developed the blotted-line technique, which involved taping two pieces of blank paper together at an edge and then drawing in ink on one page. Before the ink dried, he pressed the two pieces of paper together. The resulting image was a picture with irregular lines that he could fill in with watercolor. Warhol moved to New York right after college and worked there for a decade as a commercial illustrator. He quickly earned a reputation in the 1950s for using his blotted-line technique in commercial advertisements. Some of Warhols most famous ads were for shoes for I. Miller, but he also drew Christmas cards for Tiffany Co., created book and album covers, and illustrated Amy Vanderbilts Complete Book of Etiquette. Pop Art Around 1960, Warhol decided to make a name for himself in pop art, a new style of art that had begun in England in the mid-1950s and consisted of realistic renditions of popular, everyday items. Warhol had turned away from the blotted-line technique and had decided to use paint and canvas, but he was having trouble deciding what to paint. Warhol began with Coke bottles and comic strips, but his work wasnt getting the attention he wanted. In December 1961, a friend gave Warhol an idea: he should paint what he liked most in the world, perhaps something such as money or a can of soup. Warhol painted both. Warhols first exhibition in an art gallery came in 1962 at the Ferus Gallery in Los Angeles. He displayed his canvases of Campbells soup, one for each of the 32 types of soup made by the company. He sold all the paintings as a set for $1,000. Before long, Warhols work was known all over the world and he was in the vanguard of the new pop art movement. Silk-Screening Unfortunately for Warhol, he found that he couldnt make his paintings fast enough on canvas. In July 1962, he discovered the process of silk screening, which uses a specially prepared section of silk as a stencil, allowing one silk-screen image to create similar patterns multiple times. He immediately began making paintings of political and Hollywood celebrities, most notably a large collection of paintings of Marilyn Monroe. Warhol would use this style for the rest of his life. Mass production not only spread his art; it became his art form. Movies In the 1960s as Warhol continued to paint, he also made films, which were known for creative eroticism, lack of plots, and extreme length—up to 25 hours. From 1963 to 1968, he made nearly 60 movies. One of his movies, Sleep, is a five-and-a-half-hour film of a nude man sleeping. â€Å"We were shooting so many, we never even bothered to give titles to a lot of them,† Warhol later recalled. On July 3, 1968, disgruntled actress Valerie Solanas, one of the hangers-on at Warhols studio known as The Factory, shot him in the chest. Less than 30 minutes later, Warhol was pronounced clinically dead. The doctor then cut Warhols chest open and massaged his heart for a final effort to get it started again. It worked. Though his life was saved, it took a long time for him to recover. Warhol continued to paint during the 1970s and 1980s. He also began publishing a magazine called Interview and several books about himself and pop art. He even dabbled in television, producing two shows—Andy Warhol’s TV  and  Andy Warhol’s Fifteen Minutes,—for MTV and appearing on  The Love Boat  and  Saturday Night Live. Death On Feb. 21, 1987, Warhol underwent routine gallbladder surgery. Though the operation went well, Warhol unexpectedly passed away the following morning from complications. He was 58. Legacy Warhol’s work is featured in an enormous collection at the  Andy Warhol Museum in Pittsburgh, which the website describes as one of the most comprehensive single-artist museums in the world and the largest in North America. It includes paintings, drawings, commercial illustrations, sculptures, prints, photographs, wallpapers, sketchbooks, and books covering Warhol’s career, from his student work to pop art paintings and collaborations. In his will, the artist directed that his entire estate be used to create a foundation for the advancement of the visual arts. The  Andy Warhol Foundation for the Visual Arts was established in 1987. Sources Andy Warhol: American Artist. Encyclopedia Britannica.Andy Warhols Life. Warhol.org.ï » ¿