Week 4 Case Assignment:
Respond to Case attached to this assignment page.
Write a paper.
Each disaster follows a general pattern in its development and dividing disasters into phases is useful from both a response and research point of view. Select a natural disaster, preferably one that may occur where you currently live (but one from the list below).
Earthquake
Tsunami
Tornado
Flood
Fire
Winter Storm
Heat-related Disaster
Volcanic Eruption
Avalanche
You must address in your paper the following:
1) Utilizing the fundamental principles of healthcare incident managements, describe how your selected disaster fits into these principles.
2) What issues in this disaster would make triaging of victims a challenge?
3) What types of injuries are most likely to occur?
4) What issues may uniquely effect the vulnerable populations (such as children and elderly populations) during this specific event?
5) What Public Health issues may ensue (i.e., infectious disease outbreaks) and what can we do to mitigate the events?
6) How can interagency cooperation and local collaboration be effectively utilized?
7) Include any considerations unique to the disaster including pre-and post-incident pitfalls.
Case 13-02
Buck’s Dilemma: Gross or Net?
Buck’s Hunting Equipment Inc. (“Buck”) is a retailer of hunting equipment, hunting
apparel, and outdoor accessories. Buck’s operations are based in Pittsburgh, PA, with
retail stores located in the nearby suburbs and throughout southwestern Pennsylvania.
Buck is actively developing opportunities to expand its operations in the surrounding
region, including construction of several new retail stores in West Virginia and southern
Ohio. Buck intends to complete construction and open each of the new stores over the
next three years. Buck anticipates incurring significant expenses and making short-term
cash outlays during the construction phase of the expansion. As a result of this growing
need to obtain new, readily available capital, Buck entered into a three-year revolving
line of credit (the “Facility”) with its bank on January 1, 2010. The line of credit has a
maximum borrowing capacity of $100 million.
Since Buck has not previously used a revolving line of credit, it does not have knowledge
of the relevant accounting literature and guidance on how to present the related cash
flows in its financial statements. Accordingly, as Buck’s external auditor, management
has asked for your assistance in determining the appropriate presentation of the
borrowing and payment activity within its statement of cash flows for the year ended
December 31, 2010.
Required:
1. Should Buck present the borrowing and payment activity related to its revolving
line of credit as cash flows from operating, investing, or financing activities?
2. For each of the following scenarios, on the basis of the specific facts and
circumstances, determine whether Buck should present its borrowing and
payment activity under the Facility on a net or gross basis within the financing
activities section of its statement of cash flows.
Scenario 1:
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The line of credit has a maximum borrowing capacity of $100 million, and
under the terms of the agreement, all draws are considered to be due on
demand.
On July 15, 2010, Buck drew $60 million on the Facility.
On August 30, 2010, Buck drew an additional $40 million on the Facility.
On September 30, 2010, Buck paid down the draws by $50 million.
Assume the turnover of transactions is considered to be quick.
Scenario 2:
•
The line of credit has a maximum borrowing capacity of $100 million, and
under the terms of the agreement, specific maturity terms will be negotiated
by Buck and the bank after each draw on the Facility.
Copyright 2011 Deloitte Development LLC
All Rights Reserved.
Case 13-02c: Buck’s Dilemma: Gross or Net?
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Page 2
On June 15, 2010, Buck drew $60 million, and signed a note to repay the full
amount borrowed by December 15, 2010.
On September 30, 2010, Buck drew an additional $40 million, and signed a
note to repay the full amount borrowed by December 1, 2010.
On December 1, 2010, Buck paid $40 million to the bank related to the second
draw.
On December 15, 2010, Buck paid $60 million to the bank related to the first
draw.
Assume the turnover of the transactions is considered to be quick.
Scenario 3:
•
•
•
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•
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The line of credit has a maximum borrowing capacity of $100 million.
Individual draws on the Facility do not contain specific maturity dates, other
than the entire amount outstanding under the Facility becomes due at the end
of the three-year term.
On June 30, 2010, Buck drew $70 million on the Facility.
On September 30, 2010, Buck drew an additional $15 million on the Facility.
On November 30, 2010, Buck drew the remaining $15 million available under
the Facility.
On December 15, 2010, Buck made a payment of $50 million related to the
outstanding balance.
Assume the turnover of the transactions is considered to be quick.
3. What international accounting standard (IFRSs) applies to cash flow statement
presentation? In general, how do those guidelines compare to U.S. GAAP?
Copyright 2011 Deloitte Development LLC
All Rights Reserved.
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