Abstract This paper explains that, given the Sarbanes-Oxley Act of 2002, in January, 2003, the FASB issued Interpretation Brief No. 46, Consolidation of Variable Interest Entities, which provides guidance to CPAs and financial professionals in the consolidation of variable interest entities (VIE). The author points out that the article's main points define how to choose if a VIE should be consolidated into a given firm's financial statements, provide the definition of primary beneficiaries of a VIE as well as provide guidance on how to account for a joint venture's creation of a VIE as in the case of Dell Financial Services and CTI Group. The paper states that the complexities of consolidating VIEs will increase significantly over time as joint ventures, mergers and acquisitions become the fuel of industry consolidations in manufacturing specifically.
Table of Contents:
Article Summary
Conclusion
From the Paper "The author states the example of Dell Financial Services (DFS) and CIT Group (CIT), and the assignment of VIE consolidation to the former due to their role in the joint venture of assuming liability for losses. CIT acts as the financial intermediary that enables transactions between DFS and customers acquiring Dell products and services. Dell owns a 70% stake in CIT and had invested as of January 31, 2003 a total of $35M in its operations. The joint venture is structured such that losses generated by DFS are fully allocated to CIT, while network incomes are allocated 70% to Dell and 30% to CIT."
Abstract The American health care system has been at the center of debate for many years. One of the most pressing issues confronting the health care system involves Medicare and its beneficiaries. This discussion focuses on the ramifications of moving Medicare beneficiaries into managed care organizations (MCOs). The paper illustrates that moving the Medicare beneficiaries into MCOs is a bad idea because there will not to be any real cost savings, and many individuals are likely to be denied needed care.
From the Paper "An article found in American Economic Review explains that Medicare is the second largest government entitlement program in the United States. The cost associated with running this program is astronomical. The article asserts that in 1999 the government spent $230 billion or 13% of its budget on Medicare and its beneficiaries. (Antos and Bilheimer) The major issue with Medicare is that it is expected to grow exponentially in the next few years due to the aging population. It is estimated that 47 million people will be enrolled in the Medicare program. (Antos and Bilheimer)"
Abstract This paper discusses how the Medicare Fair Prescription Drug Price Act of 2007 is an amendment of the Medicare Prescription Drug Improvement and Modernization Act of 2003 (MMA) and how, according to the latter, Medicare beneficiaries receive a prescription drug benefit called Part D. Private prescription drug plans are also approved for Medicare beneficiaries by the federal government. It also discusses how government interference in MMA, according to the regulations of the 2007 Act, would work for the benefit of price regulation, but to the detriment of choice and market competition.
From the Paper "The main benefit of Medicare Part D is to beneficiaries and taxpayers - in other words, to the public. Beneficiaries are allowed to choose whatever they prefer in terms of pricing and type of drugs. The market competition encouraged the negotiations between private plans and drug providers are therefore not beneficial only in terms of lower costs for certain drugs, but also in terms of choice. Some beneficiaries choose the higher priced drugs that work best for them, while others prefer lower costs for the financial benefits gained in this way. The plan therefore provides enough diversity for the public to choose from."
Abstract An examination of the reasons why Social Security was enacted, the history of the program, Social Security today and its possible future. The author discusses the various reforms and improvements which are being currently proposed and concludes that the Social Security System is in need of many financial reforms as well as rule changes to create greater equality among beneficiaries in a changing society.
From the Paper "The history of Social Security began with the idea of Land grants provided by Federal funds. The first Federal Grant was made in 1785 for establishing public schools in the Northwest Territory. In 1787, the Northwest Ordinance endowed States and territorial universities with land grants. From that time through the 1850s many Federally Funded hospitals, schools and public institutions were formed. The 1860 US Census reported 849,000 persons to be 65 or older. That was then 2% of the entire United States population (SSA, history, 2002).
The first private pension plan in American Industry was adopted in 1875 by American Express. It provided benefits for persons who had been with the company for twenty years and who were over 60 years of age and had become unable to perform their job (SSA, history, 2002). This was the model after which the Social Security Program was modeled."
From the Paper "This research examines the Earned Income Tax Credit (EITC). The overall objective of this examination is to assess the advantages and disadvantages of the EITC as a way of reducing income inequality within the United States. In this research, this overall objective is addressed through focusing on the effects of the EITC on (1) the levels of disposable money income of beneficiary families and (2) the incentives of beneficiary families to work.
EITC: Description and Objectives
The EITC was enacted in 1975 to "offset the impact of Social Security and Medicare taxes on low-income individuals and to encourage them to work instead of relying on welfare benefits"
From the Paper "Introduction
Trusts are one way in which assets can be sheltered from estate taxes and in which the probate process (associated with wills) can also be avoided. In recent years, Americans have begun to use trusts and trust funds in increasing numbers, and many Americans now have Living Trusts which make it possible to pass on assets and proceeds from assets to heirs without paying estate taxes or having the estate go through a lengthy and sometimes costly probate. The use of trusts does not eliminate taxes altogether, however, and it is important to understand how the taxable income of a trust (the distributable net income) affects the trust and beneficiaries. This research examines the use of trusts and some of the issues surrounding distributable net income."
Examines provisions and applications of this state's mechanics and materialmen's lien statute related to construction projects, competing interests, priority and court decisions.
2,700 words (approx. 10.8 pages), 5 sources, 1999, $ 95.95
Abstract It is often true that in a bankruptcy case, creditors battle over control of the property of the debtor's estate. Creditors in certain industries have been the beneficiaries of state law in different states that have created special treatment for certain classes of creditors
From the Paper "INTRODUCTION
It is often true that in a bankruptcy case, creditors battle over control of the property of the debtor's estate. Creditors in certain industries have been the beneficiaries of state law in different states that have created special treatment for certain classes of creditors. Industries with the strongest lobbies are usually the beneficiaries of such special protection, and the construction industry lobby has been particularly diligent in securing such benefits for suppliers of goods and services on construction projects for the improvement of real property. The traditional form of protection is the mechanics of materialmen liens granted under state law, but the procedure for the creation and perfection of mechanics and materialmen liens varies from state to state and can be very technical. Each state ..."
Abstract Defines Gay & Lesbian marriages. Discusses issues involved and arguments against & in favor of same-sex marriage. Discrimination against homosexuals. Civil marriage beneficiaries. Pressures of social conformity. Cites studies on the effects on children of same-sex marriages.
From the Paper "This research examines the subject of gay and lesbian marriages. The research will set forth a working definition of the subject and then make a balanced presentation of the issue fronts involved in advocacy and opposition to it, with a view, however, toward demonstrating the basis for support for such marriages as a matter of sanctioned public policy.
Background for discourse of same-sex marriage can be dated from 1969, the year of the now-famous Stonewall riot in New York City, which fostered a generation of social activism and group advocacy on the part of homosexuals. Massachusetts US Representative Barney Frank, a self-identified homosexual, has been quoted on the issue in this way: "I don't understand how it hurts anybody else if two people want to be legally . . . responsible for each other" (Pearcey & Colson, 1996, p. 104)."
This paper discusses a variety of estate planning strategies to determine whether or not it is possible for an estate to become more effective in avoiding probate and estate taxes.
Abstract This paper explains that a trust is best described as a safety box where an individual can hold assets before they are released to the people or organizations designated to receive them; however, this safety box is established in the form of a deed and is a separate legal entity. The author points out that a valid will stipulates to whom assets should be distributed; a living will stipulates what life-saving medical procedures are desired in the event a person becomes physically or mentally incapacitated. The paper stresses that the gift-tax exclusion, which enables an individual to give away, tax-free, $11,000 a year (indexed for inflation) to each beneficiary, is one of the simplest and most inexpensive strategies for saving estate taxes.
Table of Contents
Introduction
Estate Planning Strategies
Trusts
Living Trust
Testamentary Trust
Offshore Trusts
Charitable Trusts
The Will
The Annual Gift-Tax Exclusion.
Medial and Tuition Payments
Nevada Corporation
Conclusion
From the Paper "One of the most popular and beneficial estate planning documents is a revocable living trust, which allows the settler to keep complete control over his/her assets and ensure that the assets are passed on to the beneficiaries without delay or unnecessary cost. With a revocable living trust, the title of any assets is transferred from the owner as an individual to the trust but the owner does not relinquish control, meaning he or she can still buy, sell, transfer or borrow. The trustee manages the assets for the benefit of the beneficiary. With living trusts, the trustee is often the settlor. In this case, when the trustee dies, a successor trustee steps in and takes control of the management of the assets for the benefit of the beneficiaries. The assets do not have to pass through probate because they are no longer in the owner's name as an individual. Instead, they are titled in the name of the trust. The beneficiary can receive the benefits from the trust without the need for court and hiring an attorney."
This paper argues that, while vouchers present an alternative short-term solution for many individual public school students, this program fails to address the entrenched problems in America's public schools.
Abstract This paper discusses that, as a solution to better education, especially for low-income and racial-minority students, the "school choice" program provides parents with public-funded school vouchers to pay for tuition in private and parochial schools. The author points out that the National Education Association reports only 33 percent of voucher schools expressed willingness to participate in state-administered standardized tests; thus, there is no way to evaluate whether the tax dollars spent on a child's private education are yielding measurable results. The paper relates that, even though the majority of the beneficiaries of school vouchers are African-American, the National Association for the Advancement of Colored People (NAACP) has long opposed the school voucher program because vouchers are merely a band-aid that does not solve the underlying problems of American public schools.
From the Paper "There are no short-term solutions to the lackluster quality of education in many public schools in less affluent districts. However, diverting much-needed funding away from such schools will only worsen the problem in the long run. Instead of vouchers and its allied problems, more forward-thinking school districts in Tennessee have initiated the STAR class size project. This program was geared towards hiring more teachers and reducing class sizes in area public schools. A similar program, Success for All, has instituted a reading-based curriculum in 1,100 schools nationwide. This program, which cost a fraction of the voucher budget, has resulted in higher reading scores in standardized tests."
Abstract This paper explains that, because the forests of central America's western Pacific plains were cleared long ago for export crops and subsistence agriculture, the deforestation which has taken place in the last 50 years has been most severe in the lowland tropical moist forests of the Atlantic, or the Caribbean side of central America. The author points out that Panama has a wide range of environmental protection policies in place which are designed to address the impact of human habitation and land-use techniques and to emphasize environmental education and extension programs. The paper concludes that, because of the competition from multi-national businesses, which are not concerned about the environment, "green" businesses must develop effective business models to survive the rigors of the marketplace as well as the extremes of nature, which effect commercial forestation businesses. Many tables and charts. Annotated bibliography.
Table of Contents
Introduction
Deforestation and Agricultural Expansion
Background and Overview
Distribution of Panama's Forest Lands and Rates of Deforestation
Land Use Changes
Causes of Deforestation
Consequences of Deforestation
Impact on Agriculture and Supply
Climate Changes
Human Health
Forest Management in Panama
Signs of Progress
The Economic Value of Forest Benefits and Services
Deforestation and Property Rights
Findings and Discussion
Panama's Environment and the Components of its Eco-System
Economical and Social Consequences of Deforestation in Panama
The Climate Affected by the Loss of Forests
Forest Policies and the Existing Instruments to Conserve the Forest Areas
Ecological Viability of a Business in the Production Process, Beneficiary and Commercialization
Business Contribution
From the Paper "As a result of the enactment of a land tenure system in 1962, some small farmers in Panama have managed to acquire some land; nevertheless, by late in the 20th century fewer than one-third of all farms were owned by the people working them. The most common agricultural products include sugarcane, bananas, rice, plantains, corn (maize), and oranges, and the commercial cultivation of these and other crops increased considerably during the 20th century. Livestock raising (cattle, pigs, and poultry) is an important and long-established economic activity, and beef and hides are exported. The country's largest cattle-raising farms are in the southwestern savannas-in Chiriqui, Los Santos, and Veraguas provinces. The provinces of Panama, Los Santos, Chiriqui, and Veraguas raise the most pigs, whereas Panama, Cocle, and Colon are the largest centres for poultry and egg production."
Tags: biodiversity, vanilla, climate, health, rights
Abstract This paper examines evaluations of the use of managed care for the Medicaid population, the extent to which beneficiaries receive care from Medicaid and the quality management programs that state Medicaid agencies supported since 2002.
Outline
Introduction
The Quality of Medicaid Managed Care.
Service Use
Quality Concerns
A Positive Side
Conclusion
From the Paper "However, the Medicaid managed care program has yet to succeed in reducing costs or providing high-quality care because the program's beneficiaries have frequent disruptions in coverage (Haslanger, 2003). Approximately two-thirds of those who receive Medicaid and cash assistance retain their eligibility for an entire year, and just over 40 percent of those on Medicaid alone have one year of uninterrupted coverage. Even among managed care enrollees who manage to stay in a single plan for a year, more than a quarter of those ages 20 to 44 and nearly a fifth of those ages 45 to 64 do not go to a primary care visit. Most enrollees are eliminated due to administrative problems, rather than changes in their eligibility status. This high turnover, according to the report, "renders financial incentives for prevention and early detection fairly meaningless.""
Abstract This paper explains that a tariff is a tax levied by a government on imports and exports, which can be a major source of revenue for governments but is usually used as a political and economic policy for the protection of domestic industries against foreign competition by making imported goods costlier than their domestic counterparts. The author points out that throughout U.S. history, various administrations have granted benefits to the country's steel and iron industry through high tariffs to keep the steel prices above the fair competitive levels; as a result of such pampering, the U.S. steel industry has failed to become economically efficient, has lacked innovation to remain competitive and been a notorious laggard in adopting new technology. The paper relates that the World Trade Organization (WTO) decision that the tariffs imposed by the U.S. government in March 2002 on steel imports was illegal because the U.S. tariffs on steel imports were illegal under global trade laws and because the U.S. had not sufficiently proven that cheap imports from overseas were the reason for the U.S. steel companies' problems.
Table of Contents
U.S. Steel Tariffs: Was it a Correct Decision?
Protective Tariffs: Main Beneficiaries and Losers
World Trade Organization on Steel Tariffs: Loss of U.S. Sovereignty? Why Did WTO Side with EU?
If All Tariffs on Steel are Removed
From the Paper "Lower tariffs result in greater international trade in which all the countries participating in such trade benefit through the economic principle of comparative advantage. Greater international trade, stimulated by lower tariffs, result in creation of wealth and higher economic growth rates for the participating countries. Recent real life examples of the dramatic benefits of free trade and reduced tariffs abound. Economies of Asian 'tiger' countries such as Korea, Singapore, Taiwan, and Thailand that followed policies of low tariffs and few trade barriers in the 1990s experienced very high growth rates. On the other hand, economies such as India, and Cuba that put up high tariff regimes and protective barriers during the same period, stagnated."
Abstract This paper explains that often writers of resumes exaggerate and even lie about their accomplishments, skills and education to put the candidate in the most favorable light: Is this immoral, vicious or unjust to stretch the truth? The author points out that, when Kant considers the morality of lying, he applies the categorical imperative; lying is wrong because it adversely affects mankind universally and man individually. The paper relates that Mill argues that the wide-ranging social harm that lying causes far outweighs the good experienced by its beneficiaries and that, although at times lies may be useful, lying takes away the trustworthiness of the individual.
From the Paper "Kant's moral system is based on rationality. It attempts to show how any rational being would agree to universal moral laws. For Kant, human beings as moral agents are rational and autonomous (free to make choices). He thinks that as rational beings we are able to judge whether any action is moral by asking if the action is consistent with the categorical imperative. According to Kant, moral imperatives exist which are inherent in human nature. The existence of these imperatives provides evidence that the goodness of an act is not related to its outcome."
Abstract This paper examines the phenomenon of genetically modified organisms. First, the author introduces the concept and explains how they are created. Then the paper discusses the potential negative side effects, beneficiaries from the proliferation of these products (i.e. large corporations), and the effect of GMOs on starving populations in developing nations.
From the Paper "In the old movie Frankenstein, the scientist working in his lab is toiling over how to make a genetic superhuman and finally does - he creates Frankenstein. The scientist is jubilant over his new creation and cannot believe that he created something so marvelous. However, Frankenstein - although meets the size and developmental specifications that the scientist wanted - doesn't have the same valuation of human life that most people take for granted and in fact, has a general disdain for human life and goes on to kill the scientist and injure/kill others. Although this story happens in a horror movie, the same thing is happening in the world today with our food."
