Question 1
Ula purchased stock in Purple, Inc., 6 years ago for $150,000. Purple has assets with a value of $180,000 (basis of $75,000) and liabilities of $25,000. Purple transfers most of its assets and all of its liabilities to White Corporation in exchange for $140,000 of White common stock. Purple distributes the White stock and its remaining $15,000 cash to Ula in exchange for all of her Purple stock. Purple then liquidates. How will this transaction be treated for tax purposes? a. Ula recognizes a $5,000 gain on the reorganization. b. Ula recognizes a $15,000 gain on the reorganization. c. Ula recognizes a $15,000 gain and Purple recognizes a $25,000 gain on the reorganization. d. Purple recognizes a $40,000 gain on the reorganization. e. None of the above. Which of the following statements is false? a. A ?Type B? reorganization is most likely to run afoul of the continuity of interest doctrine because the target remains a separate corporation. b. Liabilities are problematic for ?Type A? and ?Type C? reorganizations. c. The step transaction doctrine can be problematic in acquisitive ?Type D? and ?Type C? reorganizations. d. ?Type E? and ?Type F? are not likely to be subject to the ? 382 limitation. e. All of the statements are true. Sweet Corporation is in the candy business and sells most of its products in Europe. Lucky Corporation manufactures horse shoes for domestic consumption. Lucky would like to acquire Sweet Corporation because Sweet has large built-in losses in its business assets and foreign tax credit carryovers. To benefit from the built-in ordinary losses, Lucky will sell most of Sweet?s business assets upon completion of the reorganization. Those assets with built-in gains will be distributed proportionately before the reorganization to Sweet?s shareholders in exchange for 60% of their stock. All of the Sweet shareholders ill receive Lucky stock for their remaining shares in Sweet. Which of the following statements is false? a. The step transaction can be applied to this transaction. b. The continuity of business enterprise test is failed. c. There is no sound business purpose for this restructuring. d. Continuity of interest does not exist for the Sweet shareholders. e. All of the above statements are true. 34. Which of the following is not a requirement for receiving tax-free treatment for a corporate reorganization? a. The step transaction doctrine should apply. b. The continuity of business enterprise test must be met. c. There must be a sound business purpose for the restructuring. d. There must be a plan of reorganization. e. All of the above are requirements. Manx Corporation transfers 40% of its stock and $50,000 in cash to Somali Corporation for $500,000 of assets and all $200,000 of its liabilities. Somali exchanges the Manx stock, cash, and its remaining $100,000 of assets with its shareholders for all of their stock in Somali. After the exchange, Somali liquidates. The exchange qualifies as what type of transaction? a. ?Type A? reorganization. b. ?Type B? reorganization. c. ?Type C? reorganization. d. Acquisitive ?Type D? reorganization. e. A taxable exchange. Racket Corporation and Laocoon Corporation create Raccoon Corporation. Racket transfers $600,000 in assets for all of Raccoon?s common stock. Racket distributes its remaining assets ($300,000) and the Raccoon common stock to its shareholder, Mia, for all of her stock in Racket (basis $950,000) and then liquidates. Laocoon receives all of the preferred stock for its $400,000 of assets. Laocoon distributes its remaining assets ($300,000) and the Raccoon preferred stock to its shareholder, Carlos, for all of his stock in Laocoon (basis $200,000) and then liquidates. How will this transaction be treated for tax purposes? a. This qualifies as a ?Type A? reorganization. Mia recognizes no gain or loss, but Carlos recognizes $300,000 gain. b. This qualifies as a ?Type C? reorganization. Mia and Carlos recognize $300,000 gain, to the extent of the boot. c. This qualifies as a ?Type D? reorganization. Neither Mia nor Carlos recognizes a gain or loss. d. This is a taxable transaction. Mia recognizes $50,000 loss and Carlos recognizes $500,000 gain. e. None of the above. Xian Corporation and Win Corporation would like to combine into one entity. Xian exchanges 40% of its common and preferred stock plus $200,000 cash for 60% of Win?s assets and liabilities. Win distributes the Xian stock, cash, unwanted assets, and liabilities to its shareholders in exchange for their outstanding stock. Win then liquidates. a. This restructuring will qualify as a ?Type A? statutory merger. b. This restructuring will qualify as a ?Type B? reorganization. c. This restructuring will qualify as a ?Type C? reorganization. d. This restructuring will qualify as an acquisitive ?Type D? reorganization. e. This does not qualify as a reorganization under ? 368. A shareholder bought 2,000 shares of Zee Corporation for $90,000 several years ago. When the stock is valued at $200,000, Zee redeems these shares in exchange for 6,000 shares of Yea Corporation stock. This transaction meets the requirements of ? 368. Which of the following statements is true with regard to this transaction? a. The shareholder has a recognized gain of $110,000. b. The shareholder has a postponed gain of $110,000. c. The shareholder has a basis in the Yea stock of $200,000. d. Gain or loss cannot be determined because the value of the Yea stock is not given. e. None of the above statements is true. All of the following statements are true about corporate reorganization except: a. Taxable amounts for shareholders are classified as a dividend or capital gain. b. Reorganizations receive treatment similar to corporate formations under ? 351. c. The transfers of stock to and from shareholders qualify for like-kind exchange treatment. d. The value of the stock received by the shareholder less the gain not recognized (postponed) will equal the shareholder?s basis in the stock received. e. All of the above statements are true. One of the tenets of U.S. tax policy is to encourage business development. Which of the following Code sections does not support this tenet? a. Section 351, which allows entities to incorporate tax-free. b. Section 1031, which allows the exchange of stock of one corporation for stock of another. c. Section 368, which allows for tax-favorable corporate restructuring through mergers and acquisitions. d. Section 381, which allows the target corporation?s tax benefits to carryover to the successor corporation. e. All of the above provisions support the tenet.
Question 2
Here are 7 accounting questions. I have put the answers to the problems. I just need to know how to arrive at the solutions. Thanks! Denise 54. On April 7, 2010, Kegin Corporation sold a $2,000,000, twenty-year, 8 percent bond issue for $2,120,000. Each $1,000 bond has two detachable warrants, each of which permits the purchase of one share of the corporation's common stock for $30. The stock has a par value of $25 per share. Immediately after the sale of the bonds, the corporation's securities had the following market values: 8% bond without warrants $1,008 Warrants 21 Common stock 28 What accounts should Kegin credit to record the sale of the bonds? a. Bonds Payable $2,000,000 Premium on Bonds Payable 77,600 Paid-in Capital?Stock Warrants 42,400 b. Bonds Payable $2,000,000 Premium on Bonds Payable 16,000 Paid-in Capital?Stock Warrants 84,000 c. Bonds Payable $2,000,000 Premium on Bonds Payable 35,200 Paid-in Capital?Stock Warrants 84,800 d. Bonds Payable $2,000,000 Premiums on Bonds Payable 120,000 Answer is C Use the following information for questions 55 and 56. On May 1, 2010, Payne Co. issued $300,000 of 7% bonds at 103, which are due on April 30, 2020. Twenty detachable stock warrants entitling the holder to purchase for $40 one share of Payne?s common stock, $15 par value, were attached to each $1,000 bond. The bonds without the warrants would sell at 96. On May 1, 2010, the fair value of Payne?s common stock was $35 per share and of the warrants was $2. 55. On May 1, 2010, Payne should credit Paid-in Capital from Stock Warrants for a. $11,520. b. $12,000. c. $12,360. d. $21,000. Answer is C 56. On May 1, 2010, Payne should record the bonds with a a. discount of $12,000. b. discount of $3,360. c. discount of $3,000. d. premium of $9,000. Answer is B On May 1, 2010, Marly Co. issued $500,000 of 7% bonds at 103, which are due on April 30, 2020. Twenty detachable stock warrants entitling the holder to purchase for $40 one share of Marly?s common stock, $15 par value, were attached to each $1,000 bond. The bonds without the warrants would sell at 96. On May 1, 2010, the fair value of Marly?s common stock was $35 per share and of the warrants was $2. 59. On May 1, 2010, Marly should record the bonds with a a. discount of $20,000. b. discount of $5,000. c. discount of $5,600. d. premium of $15,000. C 60. On May 1, 2010, Marly should credit Paid-in Capital from Stock Warrants for a. $35,000 b. $20,600 c. $20,000 d. $19,200 Answer is B On January 1, 2010, Korsak, Inc. established a stock appreciation rights plan for its executives. It entitled them to receive cash at any time during the next four years for the difference between the market price of its common stock and a pre-established price of $20 on 60,000 SARs. Current market prices of the stock are as follows: January 1, 2010 $35 per share December 31, 2010 38 per share December 31, 2011 30 per share December 31, 2012 33 per share Compensation expense relating to the plan is to be recorded over a four-year period beginning January 1, 2010. *76. What amount of compensation expense should Korsak recognize for the year ended December 31, 2011? a. $0 b. $30,000 c. $300,000 d. $150,000 B *77. On December 31, 2012, 16,000 SARs are exercised by executives. What amount of compensation expense should Korsak recognize for the year ended December 31, 2012? a. $285,000 b. $195,000 c. $585,000 d. $78,000 A,Here are some Intermediate Accounting Questions about Dilutive Securities and Earnings per Share. I look forward to hearing back from you. I have put the answers. I just don't know how to arrive at the answer and need for you to show me how. Thanks! Denise,Michael, Question #54 I sent to you. In the 2nd line of the solution, the fraction cannot be correct. Can you please tell me what the correct answer is? You say: $2016000/2016000*2120000=2035200 That cannot be correct. I'm cutting and pasting the solution for you. Can you please correct it for me? 54. On April 7, 2010, Kegin Corporation sold a $2,000,000, twenty-year, 8 percent bond issue for $2,120,000. Each $1,000 bond has two detachable warrants, each of which permits the purchase of one share of the corporation's common stock for $30. The stock has a par value of $25 per share. Immediately after the sale of the bonds, the corporation's securities had the following market values: 8% bond without warrants $1,008 Warrants 21 Common stock 28 What accounts should Kegin credit to record the sale of the bonds? a. Bonds Payable $2,000,000 Premium on Bonds Payable 77,600 Paid-in Capital?Stock Warrants 42,400 b. Bonds Payable $2,000,000 Premium on Bonds Payable 16,000 Paid-in Capital?Stock Warrants 84,000 c. Bonds Payable $2,000,000 Premium on Bonds Payable 35,200 Paid-in Capital?Stock Warrants 84,800 d. Bonds Payable $2,000,000 Premiums on Bonds Payable 120,000 Answer is C Solution: (2,000 x $1,008) + (4,000 x $21) = $2,100,000 $2,016,000 /$2,016,000 x $2,120,000 = $2,035,200, Bonds: $2,035,200 - $2,000,000 = $35,200 Premium: $84,000 x $2,120,000/$2,100,000 = $84,800,Michael, I really don't understand where you are getting these numbers. I'm cutting and pasting this problem. On May 1, 2010, Payne Co. issued $300,000 of 7% bonds at 103, which are due on April 30, 2020. Twenty detachable stock warrants entitling the holder to purchase for $40 one share of Payne?s common stock, $15 par value, were attached to each $1,000 bond. The bonds without the warrants would sell at 96. On May 1, 2010, the fair value of Payne?s common stock was $35 per share and of the warrants was $2. 55. On May 1, 2010, Payne should credit Paid-in Capital from Stock Warrants for a. $11,520. b. $12,000. c. $12,360. d. $21,000. Answer is C Solution: (300,000 x .96) + (6,000 x $2) = $300,000; $300,000 x 1.03 = $309,000 $12,000/$300,000 x $309,000 = $12,360 Where do you get the (6000 *2)? Where does the 12000/300000 come from? Denise,Michael, I need more clarification on this question. On January 1, 2010, Korsak, Inc. established a stock appreciation rights plan for its executives. It entitled them to receive cash at any time during the next four years for the difference between the market price of its common stock and a pre-established price of $20 on 60,000 SARs. Current market prices of the stock are as follows: January 1, 2010 $35 per share December 31, 2010 38 per share December 31, 2011 30 per share December 31, 2012 33 per share Compensation expense relating to the plan is to be recorded over a four-year period beginning January 1, 2010. *76. What amount of compensation expense should Korsak recognize for the year ended December 31, 2011? a. $0 b. $30,000 c. $300,000 d. $150,000 B Solution: ($30 - $20) x 60,000 x .5 = $300,000 Amount of compensation expense = $300,000 - $270,000 = $30,000 Where does the * .5 come from? Where does the -270000 come from? Denise,Enter your follow up question here...,Michael, You will need to respond pretty soon. I have a test Tuesday. Denise,Michael, Can you get back to me tonight on these questions? I need to take a test soon. The other set of questions were all OK. they were in a spreadsheet and that helped a lot too. Denise
Question 3
MGT 325 Module 6 Spreadsheet Exam Part A COMPREHENSIVE CHAPTER 12 & 13 PROBLEMS MONARCH CORPORATION IS GOING TO START A NEW PRODUCT LINE OF PRODUCTS IN A WHOLE NEW MARKET. THE DATA FOR ANALYSIS IS PRESENTED BELOW: COST OF THE EQUIPMENT NEEDED $194,000 FIVE YEAR PROPERTY FOR TAX DEPRECIATION NEW WORKING CAPITAL NEEDS $50,000 WILL BE RECOVERED AT THE END OF THE THIRD YEAR PROJECTED NEW REVENUES: SALES PROBABILITY $200,000 30% $250,000 50% $300,000 20% COST OF GOOD SOLD 30% OF SALES VARIABLE CASH COSTS 10% OF SALES ANNUAL FIXED CASH COSTS: RENT $50,000 CLEANING $20,000 MAINTENANCE & OTHER $10,000 TOTAL FIXED COSTS $80,000 EQUIPMENT DISPOSAL PROCEEDS $19,400 SALVAGE VALUE AT THE END OF YEAR 6 FIRM'S COST OF CAPITAL 12.00% TAX RATE 35% NOTE - WHEN COMPUTING TAX, A NET LOSS FOR THE YEAR MEANS A POSITIVE TAX SAVINGS IS CREATED SINCE THERE IS OTHER INCOME TAX ON OTHER INCOME TO OFFSET. DEPRECIATION RATES FOR TAX PURPOSES: YEAR ONE 20.00% YEAR TWO 32.00% YEAR THREE 19.20% YEAR FOUR 11.50% YEAR FIVE 11.50% YEAR SIX 5.80% ASSUMPTIONS: ALL CASH FLOWS IN YEARS 1-6 OCCUR AT THE END OF THE YEAR. ALL INITIAL CASH INFLOWS OR OUTFLOWS OCCUR TODAY. REQUIRED: A. ASSUMING SALES ARE $200,000 COMPUTE THE PAYBACK, IRR AND NPV. FOR THE NPV, COMPUTE AT BOTH THE FIRM'S DISCOUNT RATE AND 16%, WHICH IS A 4% PREMIUM ADDED TO THE RATE. B. COPY THE WHOLE WORKSHEET AND SOLUTIONS FOR PART A TO THE WORKSHEET NAMED PART B, AND REDO THE COMPUTATIONS BY CHANGING THE ANNUAL SALES TO $250,000. C. COPY THE WHOLE WORKSHEET AND SOLUTIONS FOR PART A TO THE WORKSHEET NAMED PART C, AND REDO THE COMPUTATIONS BY CHANGING THE ANNUAL SALES TO $300,000. You should place your answers in each of the boxes shown below color-coded in Yellow color. PART A YEARS 0 1 2 3 4 5 6 INITIAL INVESTMENT (NO INCOME TAX AFFECTS) COST OF THE EQUIPMENT NEEDED $ WORKING CAPITAL NEEDS TOTAL INITIAL INVESTMENT ANNUAL OPERATING RECEIPTS: (using the information given above, fill in the blanks below to determine each year's operating cash flow): SALES $ $ $ $ $ $ LESS COST OF GOODS SOLD GROSS PROFIT LESS VARIABLE COSTS LESS FIXED COSTS LESS DEPRECIATION EXPENSE PROFIT (LOSS) BEFORE TAX LESS INCOME TAX EXPENSE (BENEFIT) PROFIT (LOSS) AFTER TAX PLUS DEPRECIATION EXPENSE TOTAL OPERATING CASH INFLOWS $ $ $ $ $ $ SALVAGE VALUE ON EQUIPMENT: (figure out the salvage value of the equipment for tax purposes): PROCEEDS $ LESS TAX BASIS OF EQUIPMENT: COST ACCUMULATED DEPRECIATION TAX BASIS GAIN ON SALVAGE LESS INCOME TAX ON SALVAGE GAIN NET PROCEEDS ON SALVAGE AFTER TAXES $ RELEASE OF ORIGINAL WORKING CAPITAL NEEDS (NO TAX AFFECT) $ TOTAL CASH INFLOWS (OUTFLOWS) CUMULATIVE CASH INFLOWS (OUTFLOWS) THREE METHODS OF EVALUATION: PAYBACK PERIOD YEARS (round to 2 decimal places). INTERNAL RATE OF RETURN Answer is in %-2 decimal places please. NET PRESENT VALUE AT 12.00% Answer is in $-round answer to nearest dollar. NET PRESENT VALUE AT 16.00% Answer is in $-round answer to nearest dollar. Note: Pages 375-380 in your course textbook show you how to calculate the Payback Period, the Internal Rate of Return, and the NPV.
Question 4
1. Under variable costing, which of the following costs would not be included in finished goods inventory? A) Wages of machine operator B) Steel costs for a machine tool manufacturer C) Salary of factory supervisor D) Oil costs used to lubricate machinery 2. Under absorption costing, the cost of finished goods includes direct materials, direct labor, and factory overhead. A) True B) False 3. For a period during which the quantity of inventory at the end was smaller than that at the beginning, income from operations reported under variable costing will be smaller than income from operations reported under absorption costing. A) True B) False 4. Changes in the quantity of finished goods inventory, caused by differences in the levels of sales and production, directly affects the amount of income from operations reported under absorption costing. A) True B) False 5. For short-run production planning, information in the absorption costing format is more useful to management than is information in the variable costing format. A) True B) False 6. In the absorption costing income statement, deduction of the cost of goods sold from sales yields gross profit. A) True B) False 7. In a service firm it may be necessary to have several activity bases to properly match the change in costs with the changes in various activities. A) True B) False 8. On the variable costing income statement, all of the fixed costs are deducted from the contribution margin. A) True B) False 9. Companies prepare contribution margin reports by market segments and product segments because products contribute to profitability in various ways. A) True B) False 10. The contribution margin and the manufacturing margin are usually equal. A) True B) False 11. A business operated at 100% of capacity during its first month, with the following results: Sales (80 units) $80,000 Production costs (100 units): Direct materials $50,000 Direct labor 10,000 Variable factory overhead 5,000 Fixed factory overhead 2,000 67,000 Operating expenses: Variable operating expenses $ 6,000 Fixed operating expenses 1,000 7,000 What is the amount of the income from operations that would be reported on the absorption costing income statement? A) $21,000 B) $19,400 C) $22,000 D) $28,000 12. For a period during which the quantity of product manufactured was less than the quantity sold, income from operations reported under absorption costing will be smaller than income from operations reported under variable costing. A) True B) False 13. A business operated at 100% of capacity during its first month and incurred the following costs: Production costs (5,000 units): Direct materials $70,000 Direct labor 20,000 Variable factory overhead 10,000 Fixed factory overhead 2,000 $102,000 Operating expenses: Variable operating expenses $17,000 Fixed operating expenses 1,000 18,000 If 1,000 units remain unsold at the end of the month and sales total $150,000 for the month, what would be the amount of income from operations reported on the absorption costing income statement? A) $50,400 B) $50,000 C) $52,000 D) $70,000 14. Contribution margin reporting can be beneficial for analyzing the following: A) Sales personal B) Products C) Sales Territory D) All of the above. 15. Under absorption costing, the cost of finished goods includes only direct materials, direct labor, and variable factory overhead. A) True B) False 16. Under absorption costing, the amount of income reported from operations can be increased by producing more units than are sold. A) True B) False 17. Under absorption costing, increases or decreases in income from operations due to changes in inventory levels could be misinterpreted to be the result of operating efficiencies or inefficiencies. A) True B) False 18. In the short run, the selling price of a product should normally not be less than the variable costs and expenses of making and selling it. A) True B) False 19. Variable costing is also known as direct costing. A) True B) False 20. Under absorption costing, the cost of finished goods includes only direct materials, direct labor, and variable factory overhead. A) True B) False 21. For a period during which the quantity of inventory at the end equals the inventory at the beginning, income from operations reported under variable costing will be smaller than income from operations reported under absorption costing. A) True B) False 22. Companies prepare contribution margin reports by market segments and product segments because products contribute to profitability in various ways. A) True B) False 23. The difference between the planned and actual contribution margin can be caused by: A) an increase or decrease in the amount of sales B) an increase in the amount of variable costs and expenses C) a decrease in the amount of variable costs and expenses D) A, B, or C 24. If the ability to sell and the amount of production facilities devoted to each of two products is equal, it is profitable to increase the sales of that product with the highest contribution margin. A) True B) False 25. The factory superintendent's salary would be included as part of the cost of products manufactured under the variable costing concept. A) True B) False
Question 5
Leadership is about the ?management of meaning,? and that leaders emerge because of their role in framing experience in a way that provides the basis for action; that is, by mobilizing meaning, articulating and defining what has previously remained implicit or unsaid, by inventing images and meanings that provide a focus for new attention and by consolidating, confronting or changing prevailing wisdom.??Smircich & Morgan (1982, p. 258) In life as well as in business, problems often involve many parties, change context on a daily basis, and have more than one possible course of action. The literature calls these problems wicked problems. Consider the various parties, or stakeholders, who may be impacted by the decision of a metals manufacturer, whose waste products have been linked to health problems, to enter a new geographic region. There are positive impacts for job creation, but also potential negative impacts like pollution and public health. There are business, political, and social (health care) stakeholders and those impacted will have varying perspectives on whether the new plant is a positive or negative addition to the community. Politicians may look forward to the possible economic benefits, while healthcare professionals and activists might protest the manufacturer?s potential entry. As a leader in such situations, your role will be one of shaping meaning and providing a framework in which those impacted can see the benefits of your proposed course of action. You will need to derive profits while ethically complying with local law and ensuring public health. Would you and your company be resilient enough to withstand the negative press that protests generate? As a leader, you will be required to think critically: you will encounter various stakeholder perspectives and be required to address competing needs. In such situations, how do you determine the best course of action? Is one stakeholder?s need more important than another? To prepare for this discussion, review Pye?s (2005) account of the retail manufacturing?s Chief Executive?s (CE?s) two ?phases? of leading his organization. Then, in a 750?1000 word response, post your answers to the following questions ? Imagine the job of the CE in the above metals manufacturing concern. Identify the different stakeholders associated with the problem and note how their interests are interrelated. Create alternative viewpoints and develop some ideas to reconcile conflicting positions. Discuss what stakeholder may be least represented in possible outcomes and describe why. Please include the Reference where is required. ? Refercence: ? Conklin, E. J. & Weil, W. (1997) ?Wicked problems: naming the pain in organizations?. Available from http://www.leanconstruction.dk/_root/media/15.pdf ??The authors discuss the concept of wicked problems, and the challenges they pose for leaders. ? Margolis, J. D. & Stoltz, P.G. (2010) ?How to bounce back from adversity?, Harvard Business Review, 88 (?), pp.86?92. Available from: http://sfxhosted.exlibrisgroup.com.ezproxy.liv.ac.uk/lpu?title=Harvard+Business+Review&volume=88&issue=1&spage=86&date=2010?The authors discuss one potential outcome of wicked problems?adversity?and identify how resilience can be developed using critical questions to reframe thinking and create new sense-making from the situation surrounding the wicked problems. Pye, A. (2005). ?Leadership and organizing: sensemaking in action?, Leadership, 1 (1), pp.31?49. Available from: http://lea.sagepub.com.ezproxy.liv.ac.uk/content/1/1/31.full.pdf+html??The author discusses leadership from the perspective of a Social Constructivist and provides a case example of how a CEO was resilient in the face of a challenge and used sense-making to create a shared perspective on implementing change,Additional reference will help to assignment Ibarra, H. (1999) ?Provisional selves: experimenting with image and identity in professional adaptation?, Administrative Science Quarterly, 44 (4), pp.764?791. Available from: http://search.ebscohost.com.ezproxy.liv.ac.uk/login.aspx?direct=true&db=buh&AN=2650421&site=eds-live In this article, the author describes how people adapt to new work environments through the use of ?provisional selves.? Amabile, T.M. & Kramer, S.J. (2007) ?Inner work life?, Harvard Business Review, 85 (5), pp.72?83. Available from: http://search.ebscohost.com.ezproxy.liv.ac.uk/login.aspx?direct=true&db=buh&AN=24635708&site=eds-live In this article, the authors suggest that employees? inner work lives (perceptions, emotions, motivation levels) impact performance on several dimensions, and managers? behaviours, in turn, impact employees? inner work lives. Kolb, A.Y. & Kolb, D.A. (2005) ?Learning styles and learning spaces: enhancing experiential learning in higher education?, Academy of Management Learning and Education, 4 (2), pp.193?212. Available from: http://search.ebscohost.com.ezproxy.liv.ac.uk/login.aspx?direct=true&db=buh&AN=17268566&site=eds-live In this article, the authors present a model that recognizes that experiences, reflections, abstract thinking, and testing are all part of an interrelated learning process. It is a learning model that recognises our use of sense-making in the learning process. You will only need to read pages 194?199 and 207?209 to apply the concepts to this week?s lesson.
