I.Lenovo: refocus on PC operation On December 8th, 2004, Lenovo consummated a deal with IBM whereby Lenovo was to acquire IBM’s desktop and laptop PC unit and its R&D and procurement operations worldwide for the...I.Lenovo: refocus on PC operation On December 8th, 2004, Lenovo consummated a deal with IBM whereby Lenovo was to acquire IBM’s desktop and laptop PC unit and its R&D and procurement operations worldwide for the sum of US$1.25 billion. On May 1st 2005, Lenovo completed its acquisition of IBM’s PC Unit. "Using an analogy, our enterprise is well likened to a tortoise but our foreign competitor is more like a rabbit. Instead of racing against the rabbit heads-on, we would rather ride on its back and let it carry us forward," said former Lenovo Chairman Liu Chuanzhi.展开更多
The paper provides a broad discussion of the topic "accruals". Though much of what is said is familiar from the literature on accruals, the paper tries to develop concepts and show how theses forge tight lin...The paper provides a broad discussion of the topic "accruals". Though much of what is said is familiar from the literature on accruals, the paper tries to develop concepts and show how theses forge tight links across a variety of themes. The starting point of the analysis concerns the construct of an accrual.The case is made that it should rest solely on consecutive balance sheets and the splitting of assets/liabilities into(i) cash and approximate cash,assets/liabilities and(ii) all other kinds of assets/liabilities. Given this divide of assets/liabilities one can measure the components in the foundation equation: cash earnings + net accrual = comprehensive earnings. The paper then proceeds to discuss how the net accrual relates to growth in a firm's operating activities and the extent to which it can be informative or misleading.This topic in turn integrates with the issue of a firm's quality of earnings and the role of accounting conservatism. Among the remaining topics, the paper discusses how one conceptualizes diagnostics to assess whether or not a period's accrual is likely to be biased upwards or downwards. It gives rise to a consideration of how one constructs accruals that may be more informative than GAAP accruals and the role of value-relevance studies to assess the information content of accrual constructs. The paper ends with a list of suggestions how future research may be modified in light of the discussions in this paper.展开更多
In the 1990s Austrian economist Peter Drucker predicted that within the next ten years, China would be producing its own management luminaries. These new leaders would generate innovative strategies and new frameworks...In the 1990s Austrian economist Peter Drucker predicted that within the next ten years, China would be producing its own management luminaries. These new leaders would generate innovative strategies and new frameworks for thinking about business, he said. Regrettably, we have yet to see the emergence of the high-level thinkers Drucker envisioned, and I＇m relatively pessimistic about the near-term outlook; In fact considering the current situation,展开更多
文摘I.Lenovo: refocus on PC operation On December 8th, 2004, Lenovo consummated a deal with IBM whereby Lenovo was to acquire IBM’s desktop and laptop PC unit and its R&D and procurement operations worldwide for the sum of US$1.25 billion. On May 1st 2005, Lenovo completed its acquisition of IBM’s PC Unit. "Using an analogy, our enterprise is well likened to a tortoise but our foreign competitor is more like a rabbit. Instead of racing against the rabbit heads-on, we would rather ride on its back and let it carry us forward," said former Lenovo Chairman Liu Chuanzhi.
文摘The paper provides a broad discussion of the topic "accruals". Though much of what is said is familiar from the literature on accruals, the paper tries to develop concepts and show how theses forge tight links across a variety of themes. The starting point of the analysis concerns the construct of an accrual.The case is made that it should rest solely on consecutive balance sheets and the splitting of assets/liabilities into(i) cash and approximate cash,assets/liabilities and(ii) all other kinds of assets/liabilities. Given this divide of assets/liabilities one can measure the components in the foundation equation: cash earnings + net accrual = comprehensive earnings. The paper then proceeds to discuss how the net accrual relates to growth in a firm's operating activities and the extent to which it can be informative or misleading.This topic in turn integrates with the issue of a firm's quality of earnings and the role of accounting conservatism. Among the remaining topics, the paper discusses how one conceptualizes diagnostics to assess whether or not a period's accrual is likely to be biased upwards or downwards. It gives rise to a consideration of how one constructs accruals that may be more informative than GAAP accruals and the role of value-relevance studies to assess the information content of accrual constructs. The paper ends with a list of suggestions how future research may be modified in light of the discussions in this paper.
文摘In the 1990s Austrian economist Peter Drucker predicted that within the next ten years, China would be producing its own management luminaries. These new leaders would generate innovative strategies and new frameworks for thinking about business, he said. Regrettably, we have yet to see the emergence of the high-level thinkers Drucker envisioned, and I＇m relatively pessimistic about the near-term outlook; In fact considering the current situation,
