Notes, summaries, assignments, exams, and problems for University

Chapter 1: Core Management & Business Fundamentals

Key Business Definitions

• Management: A set of activities designed to achieve an organization's goals by using available resources effectively and efficiently within a changing environment.
• Organization: A group of individuals working together to achieve a common goal.
• Resources: People, equipment, finances, and data used by organizations to achieve their common goals.
• Stakeholders: All individuals who can affect or are affected by an organization's goals or its means of reaching those goals.
• Profit: The financial gains collected by a company after achieving its goals.
  • Gross Profit: Total revenue minus the cost of goods sold.
  • Net Profit: Total revenue minus total costs.

Functions of a Manager

• Planning:

Microbial Secretion Systems

Matching

Which secretion system:

• Moves protein from the periplasmic space to the exterior? 2, 4, 5
• Moves DNA from one cell to another through conjugation? 4
• Moves protein from cytoplasm to exterior (not into another cell)? 1, 3
• Relies on Sec to do the first step of transportation? 2, 4, 5
• Requires ATP? All
• A domain of the protein itself forms a beta-barrel that inserts into the outer membrane (i.e., forming a pore), allowing the rest of the protein to pass through? 5
• The protein being transported carries a C-terminal signal peptide? 1
• The preprotein (before final folding) being transported carries an N-terminal signal peptide? Sec

Viral Multiplication

Six Steps to Viral Multiplication:

1. Attachment to host cell
2. Entry
3. Uncoating of

Chapters 1-3

1. Basic Components of Linguistic Knowledge

Syntax: Rules for combining words

Pragmatics: How language is used

Semantics: Meaning of words and sentences

Phonology: Sound system of a language

Morphology: Smallest unit of meaning in language

2. Properties of Human Language

a. Vocal-Auditory Channel: Speech is based on sounds.

b. Interchangeability: The same person can both transmit and receive messages.

c. Complete Feedback: While speaking, we can monitor what we are saying.

d. Arbitrariness: No direct connection between a word and its referent.

e. Discreteness: Language is based upon a vocabulary of independent, movable units.

f. Displacement: We use speech to refer to things in other times or places.

g. Cultural Transmission: One generation... Continue reading "Fundamentals of Linguistics: Properties and Systems" »

Three Roads to Modernity

1. Capitalist Democratic Road

• Identified in the UK, France, and the USA.
• The peasant question is solved as the peasantry is quickly and efficiently absorbed by the new economic system.
• Steps: enclosure, new technology, industry (normally starting with mining and textiles).
• In these three countries, there is a bourgeoisie that controls the industrialization process.
• This way, they become firstly economically wealthy and then politically powerful (need of political power to consolidate economic power).
• Finally, the landed aristocracy branched out to the bourgeoisie.

This is clearly reflected in the voting power. Initially, only the aristocracy could vote, but gradually the right to vote began involving those who were gaining... Continue reading "Three Paths to Modernity: A Comparative Study" »

Defining Globalization

Globalization is widely considered the dominant paradigm today. However, the term holds different meanings for different people. Some view it as another word for 'Westernization,' referring to the spread of Western culture worldwide. Others interpret it as internationalization, leading to a homogenization of global culture.

Scholarly Definitions of Globalization

• The spread of transplanetary connections between people.
• A fundamental shift in the nature of social space, encompassing markets, emotions, ideals, music, and more.

Historical Development of Globalization

• The European discovery of America.
• Magellan and Elcano's circumnavigation of the globe.
• The era of European imperialism.

Key Period: 1870-WWI

• Rapid industrialization,

Rustow's Definition of Democracy

For Rustow, democracy is fundamentally about the way decisions are made. Considering its genesis, Rustow thinks differently from modernization theorists, arguing that democracy generates democratic education and behavior as a consequence of its institutions and procedures. These provide a certain education and lifestyle to society. Democracy is viewed as a learning process and a problem-solving device. It is not about values or moral standards, but rather a set of rules and instruments for comfortable coexistence. As Rustow states, “Democracy is a matter of procedure and not substance.” This is why we embrace and apply it, not because human beings are born tolerant, egalitarian, or similar. Without a democratic... Continue reading "Rustow's Theory of Democratic Development" »

IFRS for SMEs: Accounting Policies, Estimates, and Errors

Understanding Accounting Policies, Estimates, and Prior Period Errors

Statement Evaluation:

• Statement: "While accounting for particular transactions, events, or conditions, entities are allowed to deviate from basic requirements imposed by IFRS for SMEs, but only if the effect of following the existing IFRS for SMEs guidance will not be material."
• Truthfulness: This statement is False. IFRS for SMEs generally requires adherence to its principles. Deviation is not permitted simply based on materiality; materiality primarily affects disclosure, not the application of recognition or measurement principles.

What Changes are Treated as Changes in Accounting Policy?

A change is treated as a change... Continue reading "IFRS for SMEs: Accounting Policies, Estimates, and PPE Principles" »

Consolidated Financial Statements

When Consolidated Financial Statements Cannot Be Compiled

Determine when a parent entity, which is itself a subsidiary, is *not* required to prepare consolidated financial statements:

• When the ultimate parent entity produces consolidated general-purpose financial statements that comply with full IFRSs or with IFRS for SMEs.
• When an entity has no subsidiaries other than one that was acquired with the intention of selling or disposing of it within one year.

Presumption of Control

Identify the circumstances under which control is presumed to exist:

• When the parent owns, directly or indirectly through subsidiaries, more than half of the voting power of an entity.
• When the parent owns half or less of the voting power of

Concepts and Principles

Primary Objective of SME Financial Statements

What is the primary objective of financial statements of SMEs? To provide information about the financial position, performance, and cash flows of the entity that is useful for economic decision-making by a broad range of users who are not in a position to demand reports tailored to meet their particular information needs.

Qualitative Characteristic: Reliability

What does the qualitative characteristic “reliability” mean? Information presented in financial statements should be free from material error and bias and ensure a faithful representation of the economic phenomenon.

True Statements About Financial Position

Which of the following statements are true?

• The financial position

IFRS for Small and Medium-Sized Entities (SMEs)

What are *not* the IASB's Objectives?

To strive for worldwide use of International Accounting Standards instead of national accounting standards.

What is the Primary Function of the IASB?

To develop and publish IFRS and strive for their worldwide use in general-purpose financial statements and other financial reporting.

What is the Primary Objective of IFRS?

IFRS sets out recognition, measurement, presentation, and disclosure requirements dealing with transactions and other events and conditions that are important in general-purpose financial statements.

What are the Major Differences Between IFRS and US GAAP?

Compared to US GAAP, IFRS are more principles-based, objective-oriented, and with emphasis on... Continue reading "IFRS for SMEs: Understanding Key Concepts and Applications" »