Future Southern Timber Supply : Comparing Risi, Fea, And Forisk Long Term Projections

This memorandum will address issues raised by the transformation from U.S. Generally Accepted Accounting Principles (US GAAP) to International Financial Reporting Standards (IFRS) in the timber industry. I will cover the following topics: different accounting treatment under U.S. GAAP and IFRS, the influence on investment decisions, Plum Creek’s reason for the opposition against transformation, and conclude with my preferred accounting treatment under different roles.

The forests have an independent watchdog(?) named British Columbia’s Forest Practices Board (BCFPD). The board oversees the activities of forest companies, their private contractors, and the government on public land. The board audits randomly selected forestry companies to be audited for compliance and enforcement with forest practice requirements, audits the enforcement of the government forest practices requirements, addresses public complaints on forestry practices, and conducts special investigations on forestry issues (mr113). All the work that the BCFPD does has led to notable positive changes in BC forestry. Some of these positive changes include: Less disturbance from logging, smaller cut blocks, better logging roads and proper maintenance, and more deactivation of logging roads (mr113). While reports have noted these improvements, the board still believes that there is room for improvement. Policies and changes are continually evolving to make BC’s forest as competitive and sustainable as possible. Some of the changes that are believed to be needed include new policies for efficiency, more timber availability to smaller organizations, such as first nations or small communities to help long-term economic development, and many others(mr113).

(i.e. products that they get to order only once because of long supplier lead times). First they determine a forecast for an item and then they have a process for converting that forecast into an order quantity.

SPRIVORPCO'S woodlot management group had entered into commitments with various timber growers in anticipation of the sales expected. Specifically, they planned to purchase hardwood timber in bulk according to the following schedule:

Negative externalities are costs imposed upon an individual or group that is outside or external to a transaction.

“Timber!” yelled a worker as he cut down yet another tree. Everyday hundreds of workers went into the woods and cut down hundreds of trees before shipping them off to sorting yards and mills. Some of the first explorers and fur traders to come to the Pacific Northwest had noticed the extremely large amounts of timber found in the region, and the lumber industry launched when the California Gold Rush created a demand for Northwest wood products. Soon after that, eight out of every ten dollars invested in manufacturing Washington’s territory went to the timber industry between 1860 and 1880. As a result of railroads, increases in mining, and a need for jobs, the lumber industry became very important to the Pacific Northwest.

Lastly, one of the biggest benefits of the Wisconsin’s Managed Forest Law at the state level has been its effects on Wisconsin’s forests’ ecosystems. Within forests, the MFL has helped to provide wildlife habitat for game and threatened/ endangered species, maintain forest ecosystem health and vitality, conserve and maintain water and soil resources on and around forestland, and promote forest conservation and biological diversity (Gass 10). To help aid in creating sustainable forest environments, the Wisconsin MFL requires that landowners follow mandatory practices including: releasing trees from competing vegetation, reforesting land to meet minimum forest density standards, performing pre and post harvest treatments to insure forest regeneration,

For my engagement assignment, I decided to join the club AZ Sabers. I didn’t join this club just because I had to fill a requirement, but because I actually wanted to. I chose to join this club because the whole idea of it sounded cool. I mean doesn’t fighting people with light sticks sound like a good idea? I first discovered this club at passport to ASU and I decided to join with a couple of my friends, which made it less nerve wracking to go into, compared to going in without knowing anybody. I have been in this club since August, and so far it has been a really enjoyable experience.

There are three types of inventory models primarily used by organizations, these include the economic order quantity model (EOC), production

To begin, forest based industrialization is based on forest resources that are used to stimulate economic growth and development. One of the products that have been most important to human economies has always been wood. Wood is durable, light weight, easily worked, waterproof, and a good fiber source. Wood is used in almost every aspect of our lives, for building materials, living, and just surviving. We need wood to build our homes to live in and buildings in which we work and spend the other resource that comes from trees “money”. Studies show that 70% of the products that we use a day are made of some kind of wood. If we were to look around our homes and count all the items that are made of wood we would probably find that 60 percent are made of wood. Without wood humans and other species would never be able to survive.

This case study is about B.R.Richardson Timber Products Corporation a lamination plant located in Papoose, Oregon. Part of the management team determined that there was a need for change in the organization and decided to reach out to Jack Lawler a management trainer and consultant for help. The issues which needed to be addressed were the low morale in the plant, the authoritative plant manager, and the fact that there was a resent fatality in the plant. Bowman was in charge of industrial relations at the plant and felt that a motivation course was needed.

Before, the concept of demand forecast was to serve the key functional groups in achieving their own interest. Facing the new challenges, forecast needed to be more accurate. And therefore it needed a new concept that is to have a consensus forecasting that would accurately reveal market demand and align the needs of key actors in the forecasting process. Leitax implemented two specific changes in forecasting process. The first one is to switch the focus from sell-in to sell-through and second one is to ignore capacity constraints.

The Wilderness Society’s Governing Council states that “No other ecosystem in the world can store as much carbon as do these forests, and it’s a capacity they have not yet begun to reach” (Bert5). Trees are very important to all of the living species. The cutting down of the trees is now nearly 4 billion trees or 35% of the total trees cut around the

Forecasting demand is the art and science of predicting future demand. There are several different techniques that can be employed alone or in combination with each other, depending upon the firm’s particular situation and the point in the product’s life cycle, and they are further classified as to the time horizon they represent. Forecasts are generally quantitative (relying on historical data) or qualitative (such as variable personal experiences).

According to InventoryManagement.com “The scope of inventory management also concerns the fine lines between replenishment lead time, carrying costs of inventory, asset management, inventory forecasting, inventory valuation, inventory visibility, future inventory price forecasting, physical inventory, available physical space for inventory, quality management, replenishment, returns and defective goods and demand forecasting.”