Question & Answer

Explain how symbols, stories, heroes, slogans, and ceremonies can be used to interpret and shape corporate culture.

: Define corporate culture as part of the organization’s internal environment, and identify when a culture becomes toxic for some or all employees.

Explain the strategies managers can use to help organizations adapt to an uncertain or turbulent environment.

Define an organizational ecosystem and show how the general and task environments affect an organization’s ability to thrive.

Dewey is a lawyer who uses the cash method of accounting.  Last year Dewey provided a client with legal services worth $55,000, but the client could not pay the fee.  This year Dewey requested that in lieu of paying Dewey $55,000 for the services, the client could make a $45,000 gift to Dewey’s daughter.  Dewey’s daughter received the check for $45,000 and deposited it in her bank account.  How much of this income is taxed, if any, to Dewey?  Explain.

Contrast the constructive receipt doctrine with the claim of right doctrine.

The cash method of accounting means that taxpayers don’t recognize income unless they receive cash or cash equivalents.  True or false?  Explain.

Janet is a cash-basis calendar-year taxpayer.  She received a check for services provided in the mail during the last week of December.  However, rather than cash the check, Janet decided to wait until the following January because she believes that her delay will cause the income to be realized and recognized next year.  What would you tell her?  Would it matter if she didn’t open the envelope?  Would it matter if she refused to check her mail during the last week of December?  Explain. 

Describe in general how the cash method of accounting differs from the accrual method. 

This year Jorge received a refund of property taxes that he deducted on his tax return last year.  Jorge is not sure whether he should include the refund in his gross income.  What would you tell him? 

Compare how the return of capital principle applies when (1) a taxpayer sells an asset and collects the sale proceeds all immediately and (2) a taxpayer sells an asset and collects the sale proceeds over several periods (installment sales).  If Congress wanted to maximize revenue from installment sales, how would they have applied the return of capital principle for installment sales?

What issue precipitated the return of capital principle?  Explain.

Andre constructs and installs cabinets in homes.  Blair sells and installs carpet in apartments.  Andre and Blair worked out an arrangement whereby Andre installed cabinets in Blair’s home and Blair installed carpet in Andre’s home.  Neither Andre nor Blair believes they are required to recognize any gross income on this exchange because neither received cash.  Do you agree with them?  Explain.

Tim is a plumber who joined a barter club.  This year Tim exchanges plumbing services for a new roof.  The roof is properly valued at $2,500, but Tim would have only billed $2,200 for the plumbing services.  What amount of income should Tim recognize on the exchange of his services for a roof?  Would your answer change if Tim would have normally billed $3,000 for his services?

Compare and contrast realization of income with recognition of income.

Describe the concept of realization for tax purposes.

Based on the definition of gross income in §61, related regulations, and judicial rulings, what are the three criteria for recognizing taxable income?

Based on the definition of gross income in §61 and related regulations, what is the general presumption regarding the taxability of income realized?

: Explain how artificial intelligence may help bridge the historical struggle between managing the “things of production” and the “humanity of production.”

: Describe the management changes brought about by a technology-driven workplace and those that facilitate a people-driven workplace.

: Explain recent historical trends, including the major concepts of systems thinking and the contingency view.

 Describe the major components of the humanistic management perspective.

: Describe the major components of the classical perspective and current uses of the management science approach                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         

Summarize the historical struggle between managing the “things of production” and the “humanity of production

1.    How might the teaching of a management course be designed to help people make the transition from individual performer to manager so as to prepare them for the challenges they will face as new managers?