To measure the financial performance of any company, it is important to analyze its four key financial statements: balance sheets, income statements, cash flow statements, and shareholders’ equity statements. In this assignment, you will:
Visually present the balance sheet to depict what each company owns and what it owes over the past three years.
Visually present the income statement to depict how much money a company made and spent over the past three years.
The visual presentation and analysis will help you understand and compare the performance of both the companies to be acquired and eventually will help you build your recommendation for the acquisition.
Prompt
Use the provided data sets of Company A and Company B to create data visualizations of their financial performance in Power BI. Then, based on the visualizations, write an executive summary interpreting the financial performance of Company A and Company B. Include screenshots from your data visualizations as needed in your summary. Follow the directions in the Power BI Executive Summary Assignment User Manual.
To complete this assignment, you will use Power BI software that is located within the virtual desktop infrastructure (VDI).
Specifically, you must address the following criteria:
Assets, Liability, and Equity: Summarize how the assets, liabilities, and owner’s equity have changed over three years for Company A and Company B. Include screenshots of your data visualization as follows:
Company A: In Power BI, use the provided Company A Financials and construct a set of three clustered column charts, representing:
The assets of Company A as represented in the data during each of the three years
The liabilities and owners’ equity over the same three years
Once the column charts are created, summarize the insights about how the assets, liability, and equity have changed over three years, as presented in the visualizations using Power BI
Company B: In Power BI, use the provided Company B Financials and construct a set of three clustered column charts, representing:
The assets of Company B as represented in the data during each of the three years
The liabilities and owners’ equity over the same three years
Once the column charts are created, summarize the insights about how the assets, liability, and equity have changed over three years, as presented in the visualizations using Power BI
Revenue and Earnings: Use the provided income statements to summarize the gross revenue and net earnings for Company A and Company B over three years. Include screenshots of your data visualization as follows:
Company A: In Power BI, use the provided Company A Financials document and construct a line chart illustrating the visual relationship of revenue, gross profit, total expenses, earnings before tax, net earnings, and taxes.
Company B: In Power BI, use the provided Company B Financials document and construct a line chart illustrating the visual relationship of revenue, gross profit, total expenses, earnings before tax, net earnings, and taxes.
Conclusion: Summarize your observations about the financial performance of both companies. Include any insights you may have about their performance trends or how they have performed compared to each other over the past three years.
What to Submit
Submit a 2- to 3-page Word document using double spacing, 12-point Times New Roman font, and one-inch margins. Sources should be cited according to APA style Consult the Shapiro Library APA Style Guide for more information on citations
j ourna l homepage: www.e lsev ie r .com/ locate / jvb
Outcomes of work–life balance on job satisfaction, life satisfaction and mental health: A study across seven cultures
c
Jarrod M. Haar a,1, Marcello Russo b,⁎,1, Albert Suñe c, Ariane Ollier-Malaterre d
a School of Management, Massey University, Private Bag 102904, North Shore City, New Zealand b Department of Management, KEDGE Business School, 680 Cours de la Liberation, 33405 Talence cedex, Bordeaux, France Department of Management, Universitat Politècnica de Catalunya, Etseiat, C. Colom 11, 08222 Terrassa, Barcelona, Spain
d Organisation and Human Resources Department, École des Sciences de la Gestion, Université du Québec A Montréal, 315, rue Sainte-Catherine Est, local R-3490, Montréal, Québec H2X 3X2, Canada
a r t i c l e i n f o
⁎ Corresponding author. E-mail addresses: j.haar@massey.ac.nz (J.M. Haar), m
(A. Ollier-Malaterre). Denotes shared first authorship.
Article history: Received 22 May 2014 Available online 7 September 2014
This study investigates the effects of work–life balance (WLB) on several individual outcomes across cultures. Using a sample of 1416 employees from seven distinct populations – Malaysian, Chinese, New Zealand Maori, New Zealand European, Spanish, French, and Italian – SEM analysis showed that WLB was positively related to job and life satisfaction and negatively related to anx- iety and depression across the seven cultures. Individualism/collectivism and gender egalitarian- ism moderated these relationships. High levels of WLB were more positively associated with job and life satisfaction for individuals in individualistic cultures, compared with individuals in collec- tivistic cultures. High levels of WLB were more positively associated with job and life satisfaction and more negatively associated with anxiety for individuals in gender egalitarian cultures. Overall, we find strong support for WLB being beneficial for employees from various cultures and for cul- ture as a moderator of these relationships.
Work–life balance (WLB) is a central concern in everyday discourses (Greenhaus & Allen, 2011; Greenhaus, Collins, & Shaw, 2003; Guest, 2002; Kossek, Valcour, & Lirio, 2014; Maertz & Boyar, 2011). However, despite its popularity, WLB remains one of the least stud- ied concepts in work–life research (Greenhaus & Allen, 2011). Valcour (2007) noted that it is “a concept whose popular usage has outplaced its theoretical development” (p. 1513). A reason for this is the field’s struggle to agree on a common definition of WLB (Greenhaus & Allen, 2011). Another reason is that research on the positive individual outcomes of WLB has been relatively slow to accumulate (Greenhaus & Allen, 2011; Maertz & Boyar, 2011). In addition, most of the current studies focus on work–family balance, without considering individuals’ broader lives including community, leisure, church, sport and other activities (Hall, Kossek, Briscoe, Pichler, & Lee, 2013). In this study we work with a relatively consensual definition of WLB as being an individual’s assessment of how well her or his multiple life roles are balanced (e.g. Greenhaus & Allen, 2011; Haar, 2013; Kossek et al., 2014). We aim to contribute to WLB research at solidifying the concept of WLB by examining its relationship with four important individual outcomes: job satisfac- tion, life satisfaction, anxiety, and depression.
Furthermore, we know very little about the impact of cultures on the relationship between WLB and individual outcomes. A recent review of cross-national work–life research has identified only two cross-cultural studies focusing on WLB compared with 29 focusing
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on conflict and nine on enrichment; the only cultural dimension examined in these studies was gender egalitarianism (Ollier- Malaterre, 2014). This is a clear shortcoming of current research given that numerous calls have been issued to broaden the scope and ambition of work–life research by conducting cross-national studies that consider the impact of multiple cultural dimensions (Greenhaus & Allen, 2011; Kossek, Baltes, & Matthews, 2011; Ollier-Malaterre, Valcour, den Dulk, & Kossek, 2013; Poelmans, 2005). In this paper we address this gap by testing whether the relationships between WLB, job satisfaction, life satisfaction, anxiety, and de- pression are moderated by two important cultural dimensions: (1) individualism/collectivism (I/C) and (2) gender egalitarianism (GE). Based on a sample of 1416 employees from seven distinct cultures – Malaysian, Chinese, New Zealand Maori, New Zealand European, Spanish, French, and Italian, we find strong support for direct effects of WLB across all of the study’s samples. We also find moderating effects of I/C and GE on these relationships.
Our study makes three important contributions to the literature. First, we contribute to establish WLB as a solid construct that sheds light on major individual outcomes, thereby encouraging future research on WLB as a way to better understand a complex work–life interface, and encouraging practitioners to assess their employees’ WLB as part of their HR efforts. Second, our study is unique in the burgeoning body of cross-cultural research on the work–life interface (for a review, see Ollier-Malaterre, 2014) since it is the first, to our knowledge, to focus on WLB rather than work–family conflict or work–family enrichment and to have collected evidence that two dimensions of national culture, i.e. I/C and GE, moderate the relationships between WLB and individual outcomes. The finding that WLB has beneficial outcomes for individuals across seven distinct cultures lends further support to the construct of WLB. Third, our study provides evidence that work–life concepts that originated in Western cultures are generalizable beyond these cultures — we do so by including cultures of growing interest in the literature (e.g. Malaysia and China) as well as understudied cul- tures (e.g. New Zealand European and Maori).
2. Theoretical background and hypotheses
2.1. Work–life balance
Consistent with recent theoretical advancements (e.g. Frone, 2003; Greenhaus & Allen, 2011; Haar, 2013; Kossek et al., 2014), we conceptualize WLB as an individual’s perceptions of how well his or her life roles are balanced. This conceptualization of individuals subjectively gauging balance between the work and the rest of their life (Guest, 2002) is in contrast with prevailing views that considered balance to be equivalent to low role conflict (Duxbury & Higgins, 2001), to high role enrichment (Frone, 2003) or to an equal division of time and attention amongst the several roles that compose an individual’s life system (Marks & MacDermid, 1996). Our definition is grounded in the perception-centred approach that considers work–life balance to be a holistic concept, unique for each person and that depends upon his or her life values, priorities and goals (Kossek et al., 2014).
With a few exceptions (see Hill, Yang, Hawkins, & Ferris, 2004; Lyness & Judiesch, 2014), cross-national research has mostly neglected work–life balance. However, there is general consensus amongst scholars that work–life balance is highly valued by nearly all employees (Kossek et al., 2014) and it has important implications on people’s well-being and work productivity all over the world (Lyness & Judiesch, 2014). Interestingly, research conducted by IBM has shown that people’s nationality does not translate in differences in the expressed desire for work–life balance (Hill et al., 2004). Regarding the effects of WLB, extant research shows that people who perceive balance between their work and life roles tend to be more satisfied of their life and report better physical and mental health (Brough et al., 2014; Carlson, Grzywacz, & Zivnuska, 2009; Ferguson, Carlson, Zivnuska, & Whitten, 2012; Greenhaus et al., 2003; Haar, 2013; Lunau, Bambra, Eikemo, Van der Wel, & Dragano, 2014). Building on these premises, in this article we hypothesize, for two reasons, that WLB will be positively related to job and life satisfaction and negatively related to mental health universally for all employees.
First, we believe that individuals who experience WLB may be more satisfied of their job and life “because they are participating in role activities that are salient to them” (Greenhaus et al., 2003; p. 515). Second, we believe that balanced individuals may be mentally healthier because they experience a sense of harmony in life and optimal psychophysiological conditions which enable them to meet the long-term demands of work and nonwork roles (Greenhaus et al., 2003). This may lead them to be less apprehensive about their abilities to conciliate work and nonwork commitments and also less prone to develop ruminating thoughts about the lack of balance in life that can deplete their physical and mental resources (Rothbard, 2001). Accordingly, we hypothesize that the benefits of WLB will be universal across all country cultures.
H1. WLB will be positively related to job satisfaction across cultures.
H2. WLB will be positively related to life satisfaction across cultures.
H3. WLB will be negatively related to anxiety across cultures.
H4. WLB will be negatively related to depression across cultures.
2.2. Moderating effects of individualism/collectivism
I/C is the cultural dimension that has received the “lion’s share of attention as a predictor of cultural variation” (Brewer & Chen, 2007, p. 133). This dimension is also a powerful moderator of employee cross-cultural studies (Ramamoorthy & Flood, 2002), including work– family studies (Hill et al., 2004; Spector et al., 2004, 2007). I/C reflects whether people view themselves as independent (individualists)
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or are tightly linked to others as part of groups (collectivists) (Triandis, 1995). We follow House, Hanges, Javidan, Dorfman, and Gupta (2004), where in-group collectivism is defined as “the degree to which individuals express pride, loyalty, and cohesiveness in their or- ganizations or families” (p. 30). In essence, in individualistic cultures people tend to prioritize personal interests over common goals, whereas in collectivistic cultures people tend to prioritize common goals, including family ones, over personal needs.
A recent review of cross-cultural work–life research found no studies linking I/C and WLB (Ollier-Malaterre, 2014). However, there is considerable research showing that work–family conflict is less detrimental to individuals in collectivistic than in individualistic cul- tures (Lu, Gilmour, Kao, & Huang, 2006; Lu et al., 2010; Spector et al., 2004, 2007; Yang, Chen, Choi, & Zou, 2000). This can be explained by the presence of different appraisal mechanisms in different cultures (Aycan, 2008). In collectivistic cultures, work is viewed as a way of supporting a family (Redding, 1993; Redding & Wong, 1986) such that people tend to deem work–family conflict as an inev- itable life experience to promote wealth and financial stability for the family (Aryee, Luk, Leung, & Lo, 1999; Spector et al., 2007). In- stead, in individualistic cultures work is generally viewed as an individual achievement that contributes to self-actualization and that is incompatible with family roles (Spector et al., 2004, 2007); therefore people deem work–family conflict to be problematic and a threat to personal health and well-being (Aycan, 2008). Drawing on these assumptions, we expect WLB to be less strongly related to positive outcomes in collectivistic than in individualistic cultures. We reason that achieving balance should be more pivotal for peo- ple in individualistic cultures, as it is considered more essential in individualistic societies to live one’s life to the fullest and to recover from the stress and strains associated with work roles (Spector et al., 2004, 2007). Instead, people in collectivistic cultures tend to per- ceive role imbalance in a less problematic way as they view it as an inevitable cost in promoting family well-being (Aryee et al., 1999). From this we can infer that individuals in individualistic cultures will benefit more from experiencing greater WLB as achieving WLB is more of a focus in their cultures and thus will weigh more towards their satisfaction and mental health. Accordingly,
H5. Individualism/collectivism will moderate the relationship between WLB and individual outcomes, such that:
H5. The positive relationship between WLB and (a) job satisfaction and (b) life satisfaction will be stronger in countries higher in
individualism. H5. The negative relationship between WLB and (c) anxiety and (d) depression will be stronger in countries higher in individualism.
2.3. Moderating effects of gender egalitarianism
GE reflects the presence of “beliefs [in the society] about whether members’ biological sex should determine the roles that they play in their homes, business organizations, and communities” (House et al., 2004, p. 347). Low GE cultures are characterized by be- liefs in the traditional gendered division of labour, which depict men as breadwinners and women as caregivers and homemakers (Wood & Eagly, 2002). Notably, extant research has shown that in high GE cultures there is less adhesion to traditional gender pat- terns and it is considered personally and socially acceptable that both women and men pursue their own life goals and struggle to guarantee the desired level of involvement in both work and non-work roles (Lyness & Judiesch, 2014).
Research on the influence of GE on the work–life interface is still at a very early stage and cross-national research in particular is very scarce (Lyness & Judiesch, 2014; Lyness & Kropf, 2005). Lyness and Judiesch (2008) found a GE moderated relationship, with managers’ self-rating of WLB more positively related to peer’s and supervisor’s advancement potential rating for female managers in high gender egalitarian cultures and for men managers in low gender egalitarian cultures. In this paper, we hypothesize that WLB will be associated with higher job and life satisfaction and lower anxiety and depression for individuals living in high GE cultures than for those living in low GE cultures. We contend that living in cultures where both men’s and women’s work and non-work role involvement is encouraged and considered socially acceptable can amplify the beneficial effects of WLB (Corrigall & Konrad, 2006). Conversely, in low GE cultures we believe that achieving WLB may be less beneficial as traditional gender role prescriptions are pre- vailing and may instil in the population the expectations that men should prioritize work over the family and women should do the opposite. Thus, experiencing WLB might not be perceived as beneficial as it might be in high GE cultures because it is inconsistent with societal expectations about gender division of labour. Accordingly,
H6. Gender egalitarianism will moderate the relationship between WLB and individual outcomes, such that:
H6. The positive relationship between WLB and (a) job satisfaction and (b) life satisfaction will be stronger in countries higher in
GE. H6. The negative relationship between WLB and (c) anxiety and (d) depression will be stronger in countries higher in GE.
Fig. 1 illustrates our general structural model.
3. Method
3.1. Samples and procedures
Data were collected from six countries (New Zealand, Spain, France, Italy, Malaysia and China) and included seven samples. Two separate samples were collected from New Zealand: Maori (indigenous people of New Zealand) and New Zealand European, the
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Fig. 1. General study model: Outcomes of WLB across cultures.
largest population group (equivalent to Caucasians in the US). Table 1 illustrates the descriptive data of the seven samples as well as of the combined sample. The authors personally collected data from four countries including both samples from New Zealand, while two research assistants native of China and Malaysia collected data from these countries. We used our networks to generate the largest number of employees from a broad range of organizations. Then, following basic principles of snowball sampling (Biernacki & Waldford, 1981), we asked recruited participants to recommend participation in the research to their contacts. The necessary require- ment to be included in the sample was being engaged in a full-time job. All surveys where English is not the first language were trans- lated into the native language (e.g., French, Italian, Mandarin) and then back-translated to minimize translation error (Brislin, 1980).
Overall, the combined sample includes 1416 employees of whom 546 come from collectivistic cultures (Maori, Malaysia and China). The average age was 37.6 years, gender was fairly evenly split (55% female) and the majority were married (70%) and parents (61%).
Table 1 Overall study demographics.
Country Demographics Sector
N Age (years) Gender (female) Married Parent Private Public Not-for-profit
New Zealand New Zealand Maori France Italy Spain Malaysia China
366 335 139 238 127 110 101
34.3 38.9 39.2 44.0 39.7 32.1 31.4
55% 63% 62% 43% 50% 48% 63%
70% 67% 80% 69% 78% 75% 47%
51% 69% 74% 60% 66% 63% 43%
56% 22% 74% 63% 62% 4%
45%
40% 70% 22% 35% 36% 96% 38%
4% 8% 4% 2% 2% 0%
17%
Total sample Collectivistic: Average age Gender Married Parents Industry:
1416 Maori, Malaysia and China (n = 546) 37.6 years (SD = 11.5 years) 55% female 70% 61% 46.8% Private 48.5% Public 4.6% Not-for-profit
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3.2. Measures
All samples used the same items, and except where noted, all items were rated on a 5-point scale (1 = strongly disagree to 5 = strongly agree). Items were averaged to produce composite indicators, with higher scores indicating higher values of the given mea- sure. All measures achieved adequate reliability within each country sample (all α N .70). We thus combined the seven samples to test our hypotheses (with alphas reported in Table 3).
3.2.1. WLB WLB was measured using a 3-item measure by Haar (2013). A sample item is “I manage to balance the demands of my work and
personal/family life well”. As this measure is still new, we conducted factor analysis (principal components, varimax rotation) for each distinct population and on the combined sample. The three items loaded onto a single factor universally across all seven samples with eigenvalues greater than 1; accounting for sizeable amounts of the variance and achieving adequate reliability in all samples as shown in Table 2.
3.2.2. Job satisfaction Job satisfaction was measured using 3-items by Judge, Bono, Erez, and Locke (2005). A sample question is “Most days I am enthu-
siastic about my work”.
3.2.3. Life satisfaction Life satisfaction was measured using the 5-item scale by Diener, Emmons, Larsen, and Griffin (1985). A sample question is “In most
ways my life is close to ideal”.
3.2.4. Anxiety and depression Anxiety and depression were assessed using 6-items by Axtell et al. (2002). This measure has been shown to have good psychomet-
ric properties (Haar, 2013; Spell & Arnold, 2007). The items were rated on a 5-point scale (1 = never to 5 = all the time). Presented with three adjectives for each measure, respondents were asked to indicate how often each adjective applied to them while they were at work.
3.2.5. Collectivism Collectivism was assessed by coding cultures using GLOBE scores for in-group collectivism (House et al., 2004). This approach is
superior to the typical dichotomous approach often used in the work–family literature (e.g. Spector et al., 2004), as it offers a range of scores that better reflect cultural variations across countries. New Zealand (European) was rated the most individualistic (3.67), and China the most collectivistic (5.8). One issue we came across was that the GLOBE study does not list New Zealand Maori as a sep- arate culture than the rest of the New Zealand population. Indeed, while making up 14% of the population, it is grouped into New Zealand culture as a whole. Since Maori have been found to have a strong collectivistic culture (Brougham & Haar, 2013; Haar, Roche, & Taylor, 2012) and prior research has widely documented that is distinct from the individualistic New Zealand European (Haar & Brougham, 2011; Podsiadlowski & Fox, 2011), we decided to use for this particular ethnic group the same score as in China (5.8). This score aligns with the GLOBE collectivism score for the Southern Asia cluster (Gupta, Surie, Javidan, & Chhokar, 2002), which provides an overall score for the six countries that make up the cluster. As such, we suggest that this provides a useful proxy for a collectivistic culture that aligns well with Maori (Brougham & Haar, 2013). Furthermore, we tested our model without in- cluding the Maori sample and we found no noticeable differences in our results. Therefore, we suggest that including the Maori sam- ple does not distort our overall findings and provides an additional rich new population to explore.
3.2.6. Gender egalitarianism Gender egalitarianism was assessed by coding cultures using the GLOBE scores (House et al., 2004). China was rated the least gen-
der egalitarian (3.68) with Italy the highest (4.88). As with collectivism, this approach is superior to the dichotomous approach but
Table 2 Results of exploratory factor analysis for WLB.
Responses were coded 1 = strongly disagree, 5 = strongly agree Factor loadings for each country
NZ NZ Maori France Italy Spain Malaysia China Combined
1. I am satisfied with my WLB, enjoying both roles .847 .906 .875 .873 .801 .912 .907 .874 2. Nowadays, I seem to enjoy every part of my life equally well .866 .904 .842 .870 .841 .882 .809 .875 3. I manage to balance the demands of my work and .821 .883 .910 .800 .886 .916 .867 .860
personal/family life well
Number of items in measure All analyses confirmed a one factor 3-item measure Eigenvalues 2.141 2.471 2.304 2.159 2.134 2.450 2.230 2.267 Percentage variance 71.4% 80.6% 76.8% 72.0% 71.1% 81.7% 74.3% 75.6% Cronbach’s alpha .80 .88 .85 .80 .80 .89 .83 .84
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similarly, does not have a score for Maori. We followed the same logic outlined above for collectivism and used the same score as in China.
3.2.7. Control variables In line with prior research (Carlson et al., 2009), we included gender (coded as 1 = female and 0 = male) and work–family conflict
as covariates in our analyses. We used 6-items from the scale by Carlson, Kacmar, and Williams (2000) to measure work-to-family conflict (WFC) and family-to-work conflict (FWC). A sample item for WFC is “I have to miss family activities due to the amount of time I must spend on work responsibilities” and a sample item for FWC is “The time I spend on family responsibilities often interfere with my work responsibilities”.
3.3. Measurement models
To confirm the separate dimensions of the various study’s measures in the combined sample, a CFA was run in SEM using AMOS 20.0. We followed Williams, Vandenberg, and Edwards (2009) recommendations regarding the goodness-of-fit measures: (1) the comparative fit index (CFI ≥ .95), (2) the root-mean-square error of approximation (RMSEA ≤ .08), and (3) the standardized root mean residual (SRMR ≤ .10). The hypothesized measurement model included seven distinct factors: WLB, WFC, FWC, job satisfaction, life satisfaction, anxiety and depression, and resulted in a good fit to the data, meeting all minimum requirements: χ2 (209) = 771.0 (p = .000), CFI = .97, RMSEA = 0.05 and SRMR = 0.04. The goodness of the hypothesized model was also confirmed by testing al- ternative models as advocated by Hair, Black, Babin, and Anderson (2010). Overall, the hypothesized measurement model did fit the data better than all the alternative models (results available from authors), which resulted in all alternative models being a significant- ly poorer fit (p b .001). This confirmed WLB to be a distinct construct from WFC and FWC.
Multi-group analysis CFA was conducted to establish measurement invariance between the seven samples (Bou & Satorra, 2010). While SEM model comparisons typically test chi-squared differences, this heavy reliance has been criticized (Schmitt & Kuljanin, 2008). This is because large samples and complex models are highly susceptible to significant changes in the chi-squared value. Cheung and Rensvold (2000) offered a number of alternative goodness-of-fit measures and we focus on the RMSEA because Meade and Kroustalis (2006) show that this measure is not affected by model complexity. Our model showed measurement equivalence as the difference in RMSEA between the seven samples; constrained and unconstrained models were very small at .002 (0.022 versus 0.024), which is below the critical value established by Cheung and Rensvold (2000). As such, this gives us confidence that the com- bined sample has metric invariance and can be analysed as a combined sample.
3.4. Analysis
Hypotheses were tested using SEM in AMOS v.20 to assess the direct (Hypotheses 1–4) and potential moderating effects of I/C (Hypotheses 5) and GE (Hypotheses 6), due to SEM being found to be superior to regression analysis (Cheng, 2001; Iacobucci, Saldanha, & Deng, 2007). Aligned with recommendations by Aiken and West (1991), the interaction terms were z-scored. Because the size of the structural models became overly complex when we included both moderators in the models, we ran two sets of mod- eration models for I/C and GE, respectively. For moderation analyses in SEM, all three z-scored WLB items were multiplied by the sin- gle GLOBE variable (I/C or GE score) to create a new variable in each model: (1) the interaction of WLB × I/C, and (2) the interaction of WLB × GE.
4. Results
4.1. Correlations
Descriptive statistics and intercorrelations for the study variables in the combined sample are shown in Table 3. The four outcome variables were all significantly correlated to each other (all p b .01) in the expected directions. WLB, WFC and
FWC were also correlated (all p b .01). In addition, I/C was significantly correlated to WLB (r = .08, p b .01), anxiety and depression (both r = − .14, p b .01), while GE was significantly correlated to WLB (r = − .09, p b .01), job satisfaction (r = .18, p b .01), anxiety (r = .34, p b .01) and depression (r = .15, p b .01). Furthermore, I/C and GE were significantly correlated to each other (r = − .38, p b .01).
4.2. Structural models
The two moderated SEM models included an additional interaction term to the measurement model: (1) WLB × I/C, and (2) WLB × GE. Consequently, both models were larger than the original measurement model. Despite this, the moderated structural models still resulted in a good fit to the data, meeting all minimum requirements for I/C (model 1): χ2 (307) = 970.4 (p = .000), CFI = 0.96, RMSEA = 0.04 and SRMR = 0.03, and for GE (model 2): χ2 (307) = 1145.1 (p = .000), CFI = 0.96, RMSEA = 0.04 and SRMR = 0.04. Table 4 highlights the significant direct and moderation effects from both models.
Aligned with the recommendations of Grace and Bollen (2005), unstandardized regression coefficients are presented in our tables. Table 4 shows that WLB was significantly related to job satisfaction (path coefficient = .50, p b .001) and life satisfaction (path coefficient = .52, p b .001), supporting Hypotheses 1 and 2. WLB was also significantly linked with anxiety (path coefficient = − .37,
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Table 3 Means, standard deviations and correlations of model variables.
N = 1416 (Cronbach’s alpha is reported on diagonal line in italics). ⁎ p b .05. ⁎⁎ p b .01.
p b .001), and depression (path coefficient = − .38, p b .001), supporting Hypotheses 3 and 4. Furthermore, we re-analysed the data separately for all seven samples and these confirmed the effects held in all country samples (see Table 5). Importantly, these effects were found after controlling for WFC and FWC.
Model 1 explored I/C as a moderator, and it was directly and significantly related to both anxiety and depression (both path coef- ficients = − .10, p b .001). Significant interaction effects were found between WLB and I/C towards job satisfaction (path coeffi- cient = − .12, p b .01) and life satisfaction (path coefficient = − .11, p b .01). Model 2 explored GE as a moderator, and it was directly and significantly related to job satisfaction (path coefficient = .08, p b .001), anxiety (path coefficient = .29, p b .001), and depression (path coefficient = .10, p b .001). Significant interaction effects were found between WLB and GE towards job satisfaction (path coefficient = .05, p b .05), life satisfaction (path coefficient = .10, p b .001), and anxiety (path coefficient = − .09, p b .01).
4.3. Interaction plots
To provide a better understanding of the interaction effects, plots are presented in Figs. 2 to 4. The interactions for I/C on job and life satisfaction (Fig. 2) are almost identical and are thus reported together. They show that there
are significant differences between respondent groups, with respondents living in individualistic cultures reporting higher levels of satisfaction (both job and life) at low levels of WLB compared to respondents living in collectivistic cultures. At high levels of WLB, respondents living in individualistic cultures reported stable levels of job and life satisfaction, while respondents living in collectivistic cultures reported significantly less job and life satisfaction, in line with our expectations. Overall, employees living in individualistic cultures reported significantly higher job and life satisfaction as expected, supporting Hypotheses 5a and 5b. Results provided no sup- port for Hypotheses 5c and 5d.
The interactions for GE on job and life satisfaction (Fig. 3) are almost identical and again, we represent them together. They show that there are significant differences between respondent groups, with respondents living in high gender egalitarian cultures reporting higher levels of job and life satisfaction at low levels of WLB compared to respondents living in less GE cultures. At high levels of WLB, all respondents reported higher levels of job and life satisfaction, but respondents in high GE cultures reported signif- icantly higher levels of job satisfaction and life satisfaction than those living in less GE cultures. Overall, employees living in GE cultures reported significantly higher levels of job satisfaction and life satisfaction. Fig. 4 shows there are no significant differences towards anxiety at low levels of WLB between respondent groups at low or high GE. At high levels of WLB, all respondents report lower anxiety
Table 4 Final structural model results (combined data).
Outcomes
Job satisfaction Life satisfaction Anxiety Depression
Model 1: Work–life balance .50⁎⁎⁎ .52⁎⁎⁎ − .37⁎⁎⁎ − .38⁎⁎⁎
Unstandardized regression weights, only main effects are shown. We controlled for gender, work–family conflict and family–work conflict directly on the DVs, and these three control variables covary on WLB. Similarly, all four DVs covary.
⁎ p b 0.05. ⁎⁎ p b .01. ⁎⁎⁎ p b .001.
368 J.M. Haar et al. / Journal of Vocational Behavior 85 (2014) 361–373
Table 5 Direct effects structural model results (individual samples).
Outcomes
New Zealand Maori: New Zealand European France Italy Spain Malaysia China
Job satisfaction Work–life balance Total R2
.26⁎⁎⁎
.13 .67⁎⁎⁎
.42 .58⁎⁎⁎
.22 .57⁎⁎⁎
.72 .48⁎⁎⁎
.15 .55⁎⁎⁎
.41 .59⁎⁎⁎
.40
Life satisfaction Work–life balance Total R2
.21⁎⁎⁎
.12 .66⁎⁎⁎
.39 .65⁎⁎⁎
.58 .73⁎⁎⁎
.40 .49⁎⁎⁎
.36 .34⁎⁎⁎
.32 .66⁎⁎⁎
.47
Anxiety Work–life balance Total R2
− .17⁎⁎⁎
.09 − .40⁎⁎⁎
.26 − .26⁎
.16 − .39⁎⁎⁎
.19 − .34⁎⁎⁎
.24 − .42⁎⁎
.26 − .19†
.12
Depression Work–life balance Total R2
− .25⁎⁎⁎
.11 − .46⁎⁎⁎
.23 − .39⁎⁎
.10 − .37⁎⁎⁎
.21 − .32⁎⁎
.12 − .64⁎⁎
.33 − .34⁎⁎
.15
Unstandardized regression weights, only main effects are shown. We controlled for gender, work–family conflict and family–work conflict directly on the DVs, and these three control variables covary on WLB. Similarly, all four DVs covary.
† p b 0.1. ⁎ p b 0.05. ⁎⁎ p b .01. ⁎⁎⁎ p b .001.
although those respondents in high GE cultures reported a steeper decrease compared to respondents in low GE cultures. These find- ings support Hypotheses 6a, 6b, and 6c.
Overall, the structural model accounted for moderate amounts of variance for all outcomes, and these were identical between the two moderation models for most outcomes: job satisfaction (R2 = .25), life satisfaction (R2 = .33), and depression (R2 = .18). Only towards anxiety were there major differences in variance, with the GE model accounting for far greater variance (R2 = .28) than the I/ C model (R2 = .18).
4.4. Supplementary analyses
Finally, an ANOVA test was conducted to examine the reported levels of WLB between the seven samples. Although the ANOVA test is important to know that at least two groups differ, it does not identify the groups that actually differ. Therefore, we run a mul- tigroup mean comparison between all distinct populations to identify the pattern of differences in our results by using the Fisher’s Least Significant Difference (LSD) and Student–Newman–Keuls tests as post-hoc analyses. The LSD test indicates which group config- urations significantly differ from one another, whereas the Student–Newman–Keuls is a sequential test designed to indicate which groups are significantly different from all the others. It orders mean scores from the lowest to the highest and compares pairs of groups for significant differences. Overall, the F-tests (results available from authors) revealed the presence of a significant difference for WLB across sample between at least two distinct populations. The Student–Newman–Keuls test revealed that the only significant difference existed between the Spanish and Italian samples, with Spanish respondents reported significantly higher levels of WLB (M = 3.47, s.d. = 0.76) than the Italian respondents (M = 3.24, s.d. = 0.79). Notably, the Maori sample (M = 3.56,
4
3.5
3
2.5
2
1.5
Jo b
an d
Li fe
S at
is fa
ct io
n
Individualism
Collectivism
Low Work-Life Balance High Work-Life Balance
Fig. 2. Interaction between WLB and I/C on Job and Life satisfaction.
369 J.M. Haar et al. / Journal of Vocational Behavior 85 (2014) 361–373
5
4.5
Low Work-Life Balance High Work-Life Balance
Low Gender
Egalitarianism
High Gender
Egalitarianism
Jo b
an d
L ife
S at
is fa
ct io
n 4
3.5
3
Fig. 3. Interaction between WLB and Gender egalitarianism on Job and Life satisfaction.
s.d. = 0.94) reported significantly higher levels of WLB than the samples from Italy (p b .000), New Zealand (p b .000), France (p b .01), Malaysia (p b .05), but not China (p = .052).
5. Discussion and conclusions
The present study investigated the outcomes of WLB on job satisfaction, life satisfaction, anxiety and depression across seven distinct cultures. More specifically, we explored whether individualism/collectivism (I/C) and gender egalitarianism (GE) moderated the relationship between WLB and these four outcomes. We found strong and consistent support across all cultures for WLB to be as- sociated with outcomes in the expected directions, albeit with some differences related to variations in national culture. Regarding I/C, as expected, we found that high levels of WLB were more positively associated with job and life satisfaction for individuals in individ- ualistic cultures, compared with those in collectivistic cultures. As such, we provide the first or one of the first empirical evidence that the outcomes of WLB can be better understood by including I/C in the analysis. A possible explanation for this result is linked to the importance that WLB has in individualistic cultures where it is a critical component influencing individuals’ subjective assessment of the overall quality of their work and life experiences (Spector et al., 2004, 2007). Furthermore, in individualistic cultures individuals generally have full responsibility for achieving WLB. Therefore, it is possible that, once achieved, WLB may lead to higher feelings of satisfaction in life due to contentment linked to this achievement. Notably, I/C did not significantly moderate the relation- ship between WLB and anxiety or depression. This is an interesting finding that can be understood in light of the broader network and greater level of social/family support usually experienced by individuals in collectivistic cultures that may help them to cope better with life adversities (Powell, Francesco, & Ling, 2009).
Regarding GE, we found that the beneficial effects of WLB on job and life satisfaction were most salient for individuals living in highly gender egalitarian cultures. This suggests that people in high GE cultures tend to be more satisfied with their job and life when experiencing high WLB than people in low GE cultures. This result is remarkable as this is the first study that documents the presence of differentiated outcomes of WLB across cultures that vary in their levels of GE. A possible explanation for this result is that in high GE cultures there is less adhesion to traditional gender role beliefs and therefore both women and men can perceive equal opportunities to pursue personal and professional life goals (House et al., 2004). Importantly, in such cultures there is higher
3
2.5 Low Gender
Egalitarianism
High Gender
Egalitarianism
Low Work-Life Balance High Work-Life Balance
A nx
ie ty
2
1.5
1
Fig. 4. Interaction between WLB and Gender egalitarianism on Anxiety.
370 J.M. Haar et al. / Journal of Vocational Behavior 85 (2014) 361–373
social approval and more tolerance towards the individual’s desire to balance work and non-work roles according to personal life preferences and values without having to sacrifice one domain over the others (Corrigall & Konrad, 2006; Lyness & Kropf, 2005). As a result, individuals may feel more satisfied when experiencing WLB as it is consistent with both personal and societal values and beliefs.
GE also moderated the relationship between WLB and anxiety. The negative relationship between WLB and anxiety was stronger for those living in high GE cultures. This implies that achieving WLB in high GE cultures is likely to enhance the beneficial effects of role balance on mental health. In line with our knowledge that individuals tend to internalize societal gender norms of the country they live in (Eagly & Wood, 2012), this finding indicates that there may be less mental pressure and anxiety for those achieving greater WLB in high GE cultures, indicating the presence of higher acknowledgement of benefits associated with greater role balance. It is also important to note that the low levels of anxiety for people living in high GE cultures may depend on the fact that in such cultures, people are more likely to engage in activities that are functional to experience detachment from work and replenish mental and phys- ical energies (Larson, Verma, & Dworkin, 2001).
5.1. Theoretical contributions
The present study contributes to the emerging WLB literature in several ways. The present study makes significant contributions to the work–life literature. First, we strengthen research on WLB by establishing its relationship with positive outcomes for individuals, which holds after controlling for work–family conflict. This supports the insightfulness of the perception-centred approach character- izing WLB research. It extends prior work conceptualizing WLB as a holistic construct (Greenhaus & Allen, 2011; Kossek et al., 2014) being different than work–family conflict and enrichment (Carlson et al., 2009; Greenhaus & Allen, 2011; Valcour, 2007). We believe that this will help to encourage future research on WLB, and this is important because WLB, as a concept distinct from work–life con- flict and work–life enrichment (Valcour, 2007), has the potential to shed light on the complexity of the work–life interface. Our study also emphasizes the importance to focus on work–life balance rather than on work–family balance, as the former term reflects more truthfully the myriads of personal life situations and role involvement decisions that nowadays characterize the contemporary society (Hall et al., 2013). This is consistent with major trends in work–life research emphasizing WLB to be a broad issue relevant for all working people (Haar, 2013; Kossek et al., 2014).
Second, this is one of the first studies that explores the outcomes of WLB across several countries and considers the influence of two distinct cultural dimensions, namely individualism/collectivism and gender egalitarianism. This is important as we compare countries that present noticeable differences with regard to their values, assumptions, norms, and belief systems about the gender roles. Thus, our paper enriches comparative work–life research at the individual level and contributes to bridge the macro–micro gap between country-level contexts and individual-level variables (Bamberger, 2008; Ollier-Malaterre et al., 2013). Moreover, while a couple of studies have explored the relationship between WLB and GE (e.g., Lyness & Judiesch, 2014), this is the first study, to our knowledge, that considers the moderating role of I/C on the positive effects generated by WLB. This is noteworthy given that I/C represents one of the most studied dimension in cross-cultural research (Brewer & Chen, 2007) and is an important boundary con- dition of our model explaining why people living in different countries perceive the benefits of WLB to greater or lesser extent. Fol- lowing recent recommendations in cross-cultural research (e.g., Taras, Rowney, & Steel, 2009), we used GLOBE scores for I/C and GE as these are reliable and objective instruments for quantifying cultural differences (House et al., 2004).
Third, we tested WLB effects in some settings of growing interest in the literature (e.g. Malaysia and China) and in some understudied settings (e.g. New Zealand European and Maori). Thus, this article contributes to establish the generalizability of work–life concepts and measures developed in Western countries to other regions of the world (Kossek & Ollier-Malaterre, 2013; Ollier-Malaterre et al., 2013; Powell et al., 2009). This is important given that WLB has considerable implications for people all around the world (Hill et al., 2004; Lyness & Judiesch, 2014). Our finding that the direct effects of WLB hold across all of the study’s samples aligns with research pointing out the universal benefit of the work–life interface (Hill et al., 2004; Poelmans et al., 2003; Shaffer, Joplin, & Hsu, 2011; Spector et al., 2004, 2007). However, our finding that two dimensions of national culture (I/C and GE) moderate the re- lationships between WLB and individual outcomes highlights the need to include cultural dimensions in research designs.
5.2. Practical implications
Our findings imply that achieving WLB may hold the key to greater job and life satisfaction, and diminished mental health issues, and this may hold in many countries. This has important implications for organizations that should make sure to assess their employees’ WLB in addition to measuring their work–life conflict. Organizations should invest in promoting WLB by implementing work–life policies, such as flexible working hours, and by embracing a supportive work culture that encourages em- ployees to use the work–life policies that are available in the organization (Allen, 2001; Eaton, 2003; Hammer, Kossek, Anger, Bodner, & Zimmerman, 2011). In addition, encouraging employees to recognize and celebrate their success in balancing roles (when achieved) and to elongate the time frame upon which they to gauge their work–life balance (Marsh, 2010) is also critical to foster greater benefits through understanding the potential changing nature of WLB. This may be particularly important in individu- alistic cultures and in high gender egalitarian cultures where work–life balance seems to be especially beneficial. Moreover, this can also prevent – especially in individualistic cultures – employees become frustrated when experiencing temporary situations of role imbalance.
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5.3. Limitations, future research and conclusions
While the present study encompasses seven distinct samples across six countries, a limitation is the cross-sectional, self-report na- ture of the data, although this approach is common in other work–family cross-cultural studies (Greenhaus & Allen, 2011; Spector et al., 2007). To alleviate this limitation we conducted higher order statistical approaches (i.e., CFA) using SEM to confirm the distinct nature of our measures. Furthermore, Kenny (2008) suggests that SEM does somewhat mitigate the potential bias related to the presence of common method variance. Similarly, testing for moderation effects also reduces the chances for common method variance (Evans, 1985). In addition, as advocated by Haar (2013), a self-report approach is needed to accurately tap the perception-centred na- ture of WLB. While additional secondary source data (e.g., supervisor, partner) would be preferable, it was prohibitively difficult to gain such data across a wide range of countries and individuals. As such, the data collected here are similar to that undertaken in other cross-cultural studies, but the CFA and structural analysis run in our study provide some unique statistical contributions, and the moderation analyses also help offset such limitations.
The present study has implications for future studies, especially cross-cultural studies in the work–life research areas. We hope that it will encourage research based on the concept of WLB, which is an important concept shedding light in job and life satisfaction as well as mental health, and which is more generalizable across cultures than what its Western origin presumed. While our study used robust scores for I/C and GE, it has been noted that individual-level allocentrism and idiocentrism may make some individuals more sensitive to cultural contexts than others (Triandis, Leung, Villareal, & Clack, 1985; Wang, Lawler, Walumbwa, & Shi, 2004). Therefore future studies should strive to measure both culture-level and individual-level of I/C and GE. Furthermore, there is to date no research investigating the role that other cultural dimensions may play in the relationship between WLB and outcomes. In particular, we encourage researchers to include in future studies the four other dimensions identified in a recent review as extensively impacting work–life conflict, enrichment and balance (Ollier-Malaterre, 2014): i.e. power distance, uncertainty avoidance, humane orientation (House et al., 2004) and specificity/diffusion (Trompenaars & Hampden-Turner, 1998). This area of research is almost void and opens avenues for many fruitful studies.
In conclusion, the present study emphasizes the crucial role that WLB plays in promoting greater job and life satisfaction and better mental health across employees in different cultures. It also points out that culture, in this study I/C and GE, moderates these relation- ships. Taken together, the findings of this study offer a fresh and nuanced picture on similarities and differences across cultures, which we hope will encourage future studies in the growing field of comparative work–life research.
Acknowledgments
We thank Tammy Allen and other conference attendees for their helpful feedback on an earlier version of this paper presented at the International Center for Work and Family 2013 conference. We are also grateful to the anonymous reviewers who gave us insight- ful suggestions.
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Personality, 19(4), 395–415. Trompenaars, A., & Hampden-Turner, C. (1998). Riding the waves of culture: Understanding diversity in global business. New York: McGraw Hill. Valcour, M. (2007). Work-based resources as moderators of the relationship between work hours and satisfaction with work–family balance. Journal of Applied
Psychology, 92(6), 1512–1523. Wang, P., Lawler, J. J., Walumbwa, F. O., & Shi, K. (2004). Work–family conflict and job withdrawal intentions: The moderating effect of cultural differences.
International Journal of Stress Management, 11(4), 392–412. Williams, L. J., Vandenberg, R. J., & Edwards, J. R. (2009). 12 Structural equation modelling in management research: A guide for improved analysis. The Academy of
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128(5), 699–727. Yang, N., Chen, C. C., Choi, J., & Zou, Y. (2000). Sources of work–family conflict: A Sino-US comparison of the effects of work and family demands. Academy of
The background material for this module explains and shows examples of balance sheets. Pay attention to the layout and definitions before reviewing the balance sheet the for ABC Company shown below.
This assignment has two parts.
1. An essay
2. Answer 10 questions relating to ABC’s balance sheet.
Case Assignment
Part 1
Write a minimum of 300 words about the role of the balance sheet as one of the four required financial statements.
· Comment on some significant characteristics of the balance sheet.
· Who is interested in the information?
· What kind of information does the balance sheet convey to users?
Part 2
Review the background material for the second module before attempting the case below in order to answer a series of questions about the balance sheet for ABC Company shown below. Start with the accounting equation and pay attention to definitions of assets, liabilities, and equity.
The background information for the module includes the basic concepts, but for more ideas, go to the optional background source principlesofaccounting.com. The site also offers multiple videos that you may find relevant. You may also use other sites for ideas to complete the table. Do not forget to reference the sources used.
Find the balance sheet for ABC Company below. The data is to be used for part 2 of the current case assignment and the SLP for this module.
Answer each question below and explain your answer with numbers, computations, and 3 to 5 sentences.
1. Determine total assets and total liabilities for ABC Company. Add some thoughts about the significance of the classifications.
2. Complete the accounting equation below using numbers from ABC’s balance sheet instead of words. In addition, explain how this equation is significant for the creation and understanding of the financial statements. Assets = Liabilities + Equity
3. Are short-term payables or receivables larger? Show the computation. Explain the significance of the difference.
4. Is the order in which assets and liabilities are listed on the balance sheet significant? Explain.
5. Determine the total amount owed by ABC at the end of the year. How could this information be useful to a reader of the balance sheet?
6. Does the company have more assets or liabilities? What is the significance of determining the difference between net assets and net liabilities? What happens to a company if the total liabilities exceed the total assets?
7. If the company borrows an additional $15,000, which two balance sheet accounts will be affected? The new totals for total assets and total liabilities are …..?
8. Explain retained earnings. How is this accounting computed? Is retained earnings an asset, a liability, or an equity account?
9. What is the “total wealth” of the company according to the balance sheet? What are some other accounting terms for “wealth” in connection with corporate entities? For example, retained earnings account fits this category, but it is not the only account.
10. Assume that the company paid $20,000 in dividends to the shareholders. Which balance sheet accounts (items) would have been affected by the payment? Use numbers and be specific.
Assignment Expectations
Follow the instructions carefully. Do not copy and paste definitions.
· Complete Part 1 using an essay format.
· Do not use an essay format for part 2; instead, answer each question separately and in order.
Show sources when appropriate. APA format is suggested but not required
6.16 Achieving Off-Balance-Sheet Financing. (Adapted from materials by. R Dieter, D. Landsittel, J. Stewart, and A. Wyatt)
Diviney Company wants to raise $50 million Cash but for various reasons does not want to do so in a way that results in a newly recorded liability. The firm is sufficiently solvent and profitable, so its bank is willing to lend up to $50 million at the prime interest rate. Diviney’s financial executives have devised six different plans, described in the following sections. TRANSFER OF RECEIVABLES WITH RECOURSETRANSFER OF RECEIVABLES WITH RECOURSE Diviney will transfer to Condon Company its long-term accounts receivable, which call for payments over the next two years. Condon will pay an amount equal to the present value of the receivables, minus an allowance for uncollectible, as well as a discount, because it is paying now but will collect cash later. Diviney must repurchase from Condon at face value any receivables that become un collectible in excess of the allowance. In addition, Diviney may repurchase any of the receivables not yet due at face value minus a discount specified by formula and based on the prime rate at the time of the initial transfer. (This option permits Diviney to bene-fit if an unexpected drop in interest rates occurs after the transfer.) The accounting issue is whether the transfer is a sale (in which Diviney increases Cash, reduces Accounts Receivable, and recognizes expense or loss on transfer) or merely a loan collateralized by the receivables (in which Diviney increases Cash and increases Notes Payable at the time of transfer).PRODUCT FINANCING ARRANGEMENTPRODUCT FINANCING ARRANGEMENTDiviney will transfer inventory to Condon, which will store the inventory in a public warehouse. Condon may use the inventory as collateral for its own borrowings, the proceeds from which will be used to pay Diviney. Diviney will pay storage costs and will repurchase the entire invent-tory within the next four years at contractually fixed prices plus interest accrued for the time elapsed between the transfer and later repurchase. The accounting issue is whether the invent-tory is sold to Condon, with later repurchases treated as new acquisitions for Diviney’s invent-tory, or whether the transaction is merely a loan, with the inventory remaining on Diviney’sbalance sheet. THROUGHPUT CONTRACTTHROUGHPUT CONTRACT Diviney wants a branch line of a railroad built from the main rail line to carry raw material directly to its plant. It could, of course, borrow the funds and build the branch line itself. Instead, it will sign an agreement with the railroad to ship specified amounts of material each month for10 years. Even if Diviney does not ship the specified amounts of material, it will pay the agreed ship-ping costs. The railroad will take the contract to its bank and, using it as collateral, borrow the funds to build the branch line. The accounting issue is whether Diviney should increase an asset for future rail services and increase a liability for payments to the railroad. The alternative is to make no accounting entry except when Diviney makes payments to the railroad. CONSTRUCTION PARTNERSHIPCONSTRUCTION PARTNERSHIPDiviney and Mission Company will jointly build a plant to manufacture chemicals that both needing their production processes. Each will contribute $5 million to the project, called Chemical. Chemical will borrow another $40 million from a bank, with Diviney being the only guarantor of the debt. Diviney and Mission are each to contribute equally to future operating expenses and debt service payments of Chemical, but in return for its guaranteeing the debt, Diviney will have an option to purchase Mission’s interest for $20 million four years hence. The accounting issue is whether Diviney should recognize a liability for the funds borrowed by Chemical. Because of the debt guarantee, debt service payments ultimately will be Diviney’s responsibility. Alternatively, the debt guarantee would be treated as a commitment merely to be disclosed in the notes to Diviney’s financial statements. RESEARCH AND DEVELOPMENT PARTNERSHIPRESEARCH AND DEVELOPMENT PARTNERSHIPDiviney will contribute a laboratory and preliminary findings about a potentially protologue-splicing discovery to a partnership, called Venture. Venture will raise funds by selling the remaining interest in the partnership to outside investors for $2 million and borrowing $48million from a bank, with Diviney guaranteeing the debt. Although Venture will operate under Diviney’s management, it will be free to sell the results of its further r discoveries and development efforts to anyone, including Diviney. Diviney is not obligated to purchase any of Venture’s output. The accounting issue is whether Diviney would recognize the liability. HOTEL FINANCINGHOTEL FINANCING Diviney owns and operates a profitable hotel. It could use the hotel as collateral for a conventional mortgage loan. Instead, it considers selling the hotel to a partnership for $50 million cash. The partnership will sell ownership interests to outside investors for $5 million and borrow$45 million from a bank on a conventional mortgage loan, using the hotel as collateral. Diviney guarantees the debt. The accounting issue is whether Diviney would record the liability for the guaranteed debt of the partnership.
REQUIREDREQUIRED
Discuss the appropriate treatment of each proposed arrangement from the viewpoint of the auditor, who must apply U.S. GAAP in deciding whether the transaction will result in a liability to be recorded or whether note disclosure will suffice. Does U.S. GAAP reporting result in an accurate portrayal of the economics of the arrangement in each case? Explain
6.21 Restructuring Charges at Intel.
Intel Corporation’s consolidated income statement appears in Exhibit 6.16.Note 15, which follows, explains the source of the restructuring charges, the breakdown of the charges into employee-related costs and asset impairments, and the balance of the accrued restructuring liability account We may incur additional restructuring charges in the future for employee severance andbenefit arrangements, and facility-related or other exit activities. Subsequent to the end of2008, management approved plans to restructure some of our manufacturing and assemblyand test operations, and align our manufacturing and assembly and test capacity to currentmarket conditions. These actions, which are expected to take place beginning in 2009, includeclosing two assembly and test facilities in Malaysia, one facility in the Philippines, and one facil-ity in China; stopping production at a 200mm wafer fabrication facility in Oregon; and endingproduction at our 200mm wafer fabrication facility in California.2008 NAND PLAN2008 NAND PLANIn the fourth quarter of 2008, management approved a plan with Micron to discontinue thesupply of NAND flash memory from the 200mm facility within the IMFT manufacturing network.The agreement resulted in a $215 million restructuring charge, primarily related to the IMFT200mm supply agreement. The restructuring charge resulted in a reduction of our investmentin IMFT of $184 million, a cash payment to Micron of $24 million, and other cash payments of$7 million.2006 EFFICIENCY PROGRAM2006 EFFICIENCY PROGRAMThe following table summarizes charges for the 2006 efficiency program for the three yearsended December 27, 2008:(in millions) 2008 2007 2006Employee severance and benefit arrangements $ 151 $ 289 $ 238Asset impairments 344 227 317Total $495 $516 $555402 CHAPTER 6 Accounting QualityCopyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s).Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.The following table summarizes the restructuring and asset impairment activity for the2006 efficiency program during 2007 and 2008:(in millions)Employee Severanceand BenefitsAssetImpairments TotalAccrued restructuring balanceas of December 30, 2006 $ 48 $ — $ 48Additional accruals 299 227 526Adjustments (10) — (10)Cash payments (210) — (210)Non-cash settlements — (227) (227)Accrued restructuring balanceas of December 29, 2007$ 127 $ — $ 127Additional accruals 167 344 511Adjustments (16) — (16)Cash payments (221) — (221)Non-cash settlements — (344) (344)Accrued restructuring balanceas of December 27, 2008$57 $— $57We recorded the additional accruals, net of adjustments, as restructuring and asset impair-ment charges. The remaining accrual as of December 27, 2008 was related to severance benefitsthat we recorded within accrued compensation and benefits.From the third quarter of 2006 through the fourth quarter of 2008, we incurred a total of$1.6 billion in restructuring and asset impairment charges related to this program. Thesecharges included a total of $678 million related to employee severance and benefit arrange-ments for appr oximately 11,900 employees, and $888 million in asset impairment charges.
REQUIREDREQUIRED
a. Based on your reading of the note, how would you treat Intel’s restructuring charges inthe assessment of current profitability and the prediction of future earnings?
b. Why is the balance of the ‘‘accrued restructuring’’ limited to employee-related costs?
c. Describe the effect on net income of each entry in the ‘‘accrued restructuring balance’’ account reconciliation. (For example, what is the effect of ‘‘Additional accruals’’ on net income?)
d. How do U.S. GAAP and IFRS differ on the rules used to compute the restructuring charge?
7.3 Dividends. Following is the shareholders’ equity section of All-Wood Doors on a dayits common stock is trading at $130 per share. Common stock ($2 par value, 40,000 shares issued and outstanding) $80,000Additional paid-in capital on common stock 1,600,000Retained earnings 3,000,000
a. Use the financial statement template below to show the financial statement effects ofthe following dividend events. (Assume that the events are independent.)(1) Cash dividend declaration and payment of $1 per share(2) Property dividend declaration and payment of shares representing a short-terminvestment in Screen Products, Ltd., with a fair value of $10,000(3) 10% stock dividend(4) 100% stock dividend(5) 3-for-1 stock split(6) 1-for-2 reverse stock splitAssets = Liabilities +Shareholders’ EquityCC AOCI REJournal entry:
b. Which events changed the book value of common equity? Under what conditions willthese events lead to future increases and decreases in ROCE (see Chapter 4 for the ROCEdefinition)
What kind of user training should be conducted to deal with the issue of noise (electrical). How do you strike a balance between being overwhelmed with false positives and the danger of ignoring true incidents? What effects would false positives have on an organization? Make sure to cite your sources.***Standard for all Research AssignmentsYour paper should meet the following requirements:
Be approximately four to six pages in length, not including the required cover page and reference page.
Follow APA7 guidelines. Your paper should include an introduction, a body with fully developed content, and a conclusion.
Support your answers with the readings from the course and at least two scholarly journal articles to support your positions, claims, and observations, in addition to your textbook. The UC Library is a great place to find resources.
Be clearly and well-written, concise, and logical, using excellent grammar and style techniques. You are being graded in part on the quality of your writing.
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Assessment Weight: 50 total marks Instructions: • All questions must be answered by using the answer boxes provided in this paper. • Completed answers must be submitted to Blackboard by the published due date and time. Submission instructions are at the end of this paper. Purpose: This assessment consists of six (6) questions and is designed to assess your level of knowledge of the key topics covered in this unit
Question 1 (7 marks) Miss Nancy started a lawn moving business in Gold Coast, Queensland, Australia. For this purpose, she purchased a group of new lawn mowers for $20 000. The accountant of Miss Nancy told her that she must have to decide the useful life and residual value of these new lawn mowers. After an initial consultation with the stakeholders, she decided that the mowers to last five years and have negligible resale value at that point. The business plan projects cutting 5000 lawns over five years. The yearly projection is as follows: • 1st Year: 500 lawns, • 2nd Year: 1 000 lawns, • 3rd Year: 1 200 lawns, • 4th Year: 1 800 lawns, and • 5th Year: 500 lawns. Required:
Calculate the accumulated depreciation balance at the end of the second year using each of the following depreciation bases: (a) straight-line [1.5 Marks]; (b) reducing balance (25 per cent rate) [2 Marks]; and (c) units-of-production [1.5 Marks].
Based on your calculations, which depreciation basis would produce the highest retained profits at the end of the second year? (2 Marks) ANSWER: ** Answer box will enlarge as you type Question 2 (7 marks) We have discussed the accounting for liabilities in Week 10 and 11. Based on this discussion, please explain the relationship between liabilities and expenses. Provide five examples where they both increase at the same time (4 Marks). Why are some liabilities interest-bearing and others are not (3 Marks). [Words Limit: Up to 100 Words] ANSWER: Question 3 (11 marks) The accountant of ABC Limited has prepared the following unadjusted trial balance of ABC Limited on 30th June 2021. Yellow Limited TRIAL BALANCE AS AT 30th JUNE 2021 Accounts Debit ($) Credit ($) Cash at bank 13 985 Account receivables 26 200 Prepaid insurance 3 900 Office Supplies 4 680 Office equipment 14 100 Accumulated depreciation – equipment 2 850 Accounts payable 315 Salary payable Unearned service revenue 1 230 Loan payable 10 500 Capital 33 300 Drawings 60 000 Service revenue 159 270 Salary expenses 66 000 Depreciation expenses – equipment Miscellaneous expenses 18 600 TOTAL 207 465 207 465 The following additional information is available at the end of June for adjustments: • Mr Emmanuel is working as the inventory clerk. He performs the physical count of the office supplies on 30th June 2021. This physical count reveals that the unused office supplies of $550 are on hand. • The rate of depreciation for the office equipment is 15% per annum and ABC Limited used the straight-line method of depreciation. • Of the $1230 unearned service revenue, $300 is still unearned • 60% of prepaid insurance is expired during this period. • Salaries owed but not yet paid $1920. • Provided consultancy service of $2000 on credit. This was not recorded for the month. Required: a) Prepare adjusting entries at the end of 30 June, 2019. (6 marks) b) Calculate the balance of the total revenue of the company after adjustment. (2 marks) c) Explain why accrual accounting adjustments are required? (3 marks) ANSWER: Question 4 (11 marks) HARDA Limited is a retailer of office stationery and art supplies. The internal auditor of the business is concerned about the inventory management of the speciality pen (a product with the highest level of sale). The following information is extracted from the records of HARDA Limited. The company uses the perpetual inventory system to record the inventory of its products. Its monthly reporting date is 30 October. Date Purchased Sold Balance 1/10 600 @ 5.00 6/10 400 @ 5.20 15/10 800 @ 10 20/10 600@4.75 25/10 400@12 30/10 100 (Sales Return from 25/10 Sales) Total 1000 1100 Required: a) Complete the inventory stock record below for the speciality pen of HARDA Limited. All transactions occurred in the month of October. Ignore GST. (7 marks) b) Calculate the Cost of Sales (COS) for 30 October, assuming the FIFO Method. (2 mark) c) Calculate the Ending Inventory on 30 October, assuming the FIFO Method. (2 mark) (Note: please write your answers in by completing the table, as provided below.) Date Purchases Cost of Goods Sold Balance Units Unit cost Total $ Units Unit cost Total $ Units Unit cost Total $
ANSWER: Question 5 (7 marks) The accountant of Paul Shop Fitter Private Limited has provided the following data on the Assets, Liabilities, Equity, Income and Expense amounts as at 30th June 2021. $ $ Equipment 221,800 Supplies 84,200 Prepaid Insurance 24,000 Cash in Bank 88,400 Accounts receivable 182,800 Accounts payable 101,100 Capital ? Bank loan 30,000 Service income 1,158,000 Salary expense 483,000 Advertising expense 15,000 Supplies expense 142,500 Required: a) Prepare a Balance Sheet in the narrative (vertical) format as at 30th June 2021. (5 marks) b) Explain what key information the Balance Sheet provides to users of the financial statements. (2 marks) ANSWER: Question 6 (7 marks) The bank statement balance and cash account balance do not agree. The owner of E-Bite Limited has requested to prepare a bank reconciliation to reconcile these balances. For this purpose, the following information is given. a) Deposits in transit are $9,800. b) Outstanding cheques totalled are $3200. c) The bank service charge is $24. d) The collection of note by the bank is $800. e) The bank statement balance is $9,000. f) The cash account balance is $14,824. ANSWER: END OF FINAL ASSESSMENT Submission Instructions: • Save submission with your STUDENT ID NUMBER and UNIT CODE e.g. EMV54897 HA1020 • Submission must be in MICROSOFT WORD FORMAT ONLY • Upload your submission to the appropriate link on Blackboard • Only one submission is accepted. Please ensure your submission is the correct document. • All submissions are automatically passed through SafeAssign to assess academic integrity
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The balances for the accounts that follow appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, statement of owner’s equity, or balance sheet.
1. Accounts Payable
2. Accounts Receivable
3. Cash
4. Eddy Rosewood, Drawing
5. Fees Earned
6. Supplies
7. Unearned Rent
8. Utilities Expense
9. Wages Expense
10. Wages Payable
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The balances for the accounts that follow appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, statement of owner’s equity, or balance sheet.
1. Accounts Payable
2. Accounts Receivable
3. Cash
4. Eddy Rosewood, Drawing
5. Fees Earned
6. Supplies
7. Unearned Rent
8. Utilities Expense
9. Wages Expense
10. Wages Payable
GET SOLUTION BELOW CLICK HERE TO MAKE YOUR ORDER TO BE RE-WRITTEN FROM THE SCRATCH NO PLAGIARISM Original and non-plagiarized custom papers. Our writers develop their writing from scratch unless you request them to rewrite, edit or proofread your paper. Timely Delivery. capitalessaywriting.com believes in beating the deadlines that our customers have imposed because we understand how important it is. Customer satisfaction. Customer satisfaction. We have an outstanding customer care team that is always ready and willing to listen to you, collect your instructions and make sure that your custom writing needs are satisfied Privacy and safety. It’s secure to place an order at capitalessaywriting.com We won’t reveal your private information to anyone else. Writing services provided by experts. Looking for expert essay writers, thesis and dissertation writers, personal statement writers, or writers to provide any other kind of custom writing service? Enjoy our bonus services. You can make a free inquiry before placing and your order and paying this way, you know just how much you will pay. A verdict was rendered against three parent chaperones. How was the third parent included in the case? Premium papers. We provide the highest quality papers in the writing industry. Our company only employs specialized professional writers who take pride in satisfying the needs of our huge client base by offering them premium writing services Adjusted Trial Balance columns of the end-of-period spreadsheet
