The internal auditors questioned why the two shipments were done before December 31, since the requested dates were in the following year. The shipments had a total value of $150,000.00. Another concern for the internal auditors was that there was no written agreement with United Thermostatic Controls to accept the early shipments and pay for them before they actually needed the merchandise. The internal auditors also discovered that Frank Campbell put pressure on the accountants to record the shipments to show the sales. Their concerns were discussed with
There are not enough regulations and monitoring system for the daily accounting activities. For instance, management and auditors spend very little time reviewing the insignificance of petty cash account. So the five elements of internal control is not work well in this company. The control environment was not effective; there was no effective risk management, which helped the company to realize its objectives; control activities and monitoring are lack. Moreover, the CEO is ultimately responsible for the internal control who assumes primary responsibility for the system of internal control.
Basically the optimal choice will be dependent on the actual demand for the product. Although the company has no actual data on demand it can be expected that demand for a new product will exceed 25 units and will remain under 300 units. This assumption makes the reconditioning option the optimal choice. Another fact that will drive the choice towards outsourcing is the operating director does not like the idea of outsourcing and the added expense of purchasing new equipment is ill advisable due
They don’t have efficient control system that can oversee from designing and planning to manufacturing along with suppliers. For example, Dreamliner was aimed to reduce the financial risks involved in a $10 billion-plus project for designing and developing a new aircraft and reduce the new product development cycle time. But with the trouble getting enough permanent titanium fasteners, Boeing has to highly dependent on a few suppliers. This will inevitably increase cost. With bad communication, various manufacturers can’t design a proper software program for test the nose
GES sales department and Customers are dissatisfied with the current processing time for loan applications by GF. Problem statement & Objective GF Loan application processing and is sub optimal with its inefficient resources utilization and is unable to commit to meet GEC’s objective of promising its customers “10 business days or less” processing time for loan approval. The objective of this case study is to analyze and recommend optimal loan approval process for GF analyzing capacity and bottlenecks in the system. Case Analysis and recommendations Current Model The above table summarizes the Average waiting time in the system (Ws*) based on the current model of processing the applications for each region. The applications processed in different regions take processing times in the system ranging from 15.29 to 37.23 days.
Unfortunately on top of that, ICD-11 doesn’t even include a procedure classification system, which means a procedure coding system for use in the US could need to be developed and it is estimated that this process of developing a US clinical modification would take close to a decade. Even if we could consider this, another problem we’d have is a lot of the ground work for ICD-11 is in ICD-10. ICD-10 is the serious foundation work for 11 and without it the industry would completely miss out on a lot of training and experience which is needed for a smooth
Obviously it is evident that Henkel Iberica current process isn’t working due to challenges of forecast exactness and demand variability for all the products it offers. The evidence is clear in the data from 2000 to 2001 as overall sales increased 2.2% but net earnings decreased by 5.7%. For a company to be profitable, focus should be on net earnings and not sales and providing a wide range of products to satisfy every customer. The loss of earnings is most likely due to not having the right product mix and volume at the right time as well as lack of communication between sales and
Four were not able to meet their sales quotas in 2000. District 3 has a newly appointed manager, Jim Sprague, and they were not able to meet their sales quota. The Northeast fell short in their sales quota by 7% and the Hanover-Bates districts fell short by 3%. Based on the gross profit quota and the gross profit actual four districts have not been able to meet their quota. The Northeast district is more than 15% below their gross profit quota.
The industry wide capacity is growing much faster than the demand growth. Three main causes to the isolation of IT Department Strategy to the whole business plan are analyzed as follows. To begin with, the matter of money counted for the most obvious excuse for the blackout of previously on-going Leapfrog Project. Actually, the problem is that RCCL did not figure out how best to spend its budgets, not just to meet growing demand but to boost repeat bookings. Further more, the decision of shelving the whole Leapfrog plan indicated that RCCL lost its
* The potential resignation of Robert Spinks if the project is not funded. * If the project were to be funded, the extended time for development and the 30% chance that it might not be a success. 2. Causes * Organizational culture is not consistent throughout all the departments. Accounting and manufacturing departments focus on increasing profits while R&D and marketing departments are open to new innovation and growth.