Revenues were approaching $3 million and income for 2006 was $600,000. Loans taken to fund the early days of operations had all been repaid. The company focused on conducting surveys of consumers of existing and new products and services sold by manufacturers, distributors, and consultants. Data was collected and analyzed to provide information about demand, pricing, design, distribution channels, and delivery systems. A typical project ended with a report prepared for and delivered to the client who had contracted for the work with Survey Masters.
Table of Contents Executive Summary 3 Introduction 4 Analysis of Alternatives 5 Alternative 1: Introduce a new product 5 Alternative 2: Increase promotion 6 Alternative 3: Raise prices and cut costs 7 Recommendations 7 Appendix: Budgeted Income Statements & the Rate of Growth in Profits 9 Executive Summary Shepard Poles is a manufacturing company that has been providing specialized poles in the market for over ten years. Shepard Poles has about three different product lines: hiking poles, downhill ski poles, and cross-country ski poles. According to the calculation on current operating data, the company has incurred a operating loss of $ 165,000 this year. If any new strategic initiatives are not implemented next year, the unit sales and all costs are expected to rise about 7 percent and 2 percent respectively. However, this situation would make the company incur more loss next year, which is about negative $ 293,586.
Company Q’s current mind-set on social responsibility appears to be quite negative, uninformed, and antiquated. It would appear that the company chose to close stores in high risk areas without first investigating how they could provide service to this under-served segment of society while still maintaining a profit margin and ensuring the safety of its employees. The company’s veiled attempt to make quick profits by providing only a small, high margin sampling of the customer requested health-conscious or organic products has likely served only to alienate and diminish their customer base. Lastly, the company’s response to the local food bank’s request for donations appears to a feeble attempt to create a valid reason to avoid the extra work that may have been associated with this endeavor. This response likely had the added effect of offending their employee base by suggesting that their employees would utilize the program to steal from the company.
Although the customers only needed the shipment the following year, this would be a way to exceed the targeted budget. Instead of offering the customers an early discount for receiving the merchandise earlier, Campbell sent the merchandise and reported the sales to be included in the financial reports. As a result of this procedure, the reported sales for the fourth quarter exceeded the budgeted amount with $80,000.00. The actual sales revenue for the year was over with $14,000.00. The internal auditors questioned why the two shipments were done before December 31, since the requested dates were in the following year.
ACCT 311 Final Exam Solution https://hwguiders.com/downloads/acct-311-final-exam-solution/ ACCT 311 Final Exam Solution 1. XYZ Company sells appliance service contracts agreeing to repair appliances for a two-year period. XYZ’s past experience is that, of the total dollars spent for repairs on service contracts, 40% is incurred evenly during the first contract year and 60% evenly during the second contract year. Receipts from service contract sales for the two years ended December 31, year 2, are as follows: Year 1 | $500,000 | Year 2 | $600,000 | Receipts from contracts are credited to unearned service contract revenue. Assume that all contract sales are made evenly during the year.
Unfortunately as we have experienced in live situations not all CEO’s follow their ethical responsibility to their organization and society. CEO’s are back tracking there stock options to a point in the company’s fiscal year, and buying stock at a price when the stock was peaking. For example, former UnitedHealth Group CEO William McGuire received 14.6 million stock options on the same day that UnitedHealth Group’s shares fell to their lowest price for the
Stimulation Review Cost cutting measures are the first portion of the simulation. These measures are implemented by a company to improve profitability and reduce expenses. Cost cutting measures may include reducing employee pay, lay off of employees, downsizing to a smaller building, changing hours of service, or changing to a less expensive health insurance employee plan ("Investopedia", 2015). Gilbert Sanchez set a target for cost saving in the amount of 900,000 in the first year. The EHC will receive $2,300,000 from managed care companies and Medicare in three months, but the shortfall at the business must be resolved first.
2010 CMA Part 1 Section D – Internal Controls & Ethics Limited Expenditure Account Estimated time 30 minutes The Board of Directors of a large corporation recently learned that some members of the senior management team had circumvented the company's internal controls for personal gain. The Board appointed a special task force of external auditors and outside legal counsel to investigate the situation. After extensive review, the task force has concluded that for a period of several years the expenses of the company’s chief executive officer, president, and vice president-public relations was charged to an account called the Limited Expenditure Account (LEA). The account was established five years ago and was not subject to the company's normal approval authorization process. Approximately $2,000,000 of requests for reimbursement were routinely processed and charged to LEA.
1-4) states that many companies now offer tuition reimbursement, Ken Kingsley, of the Human Resources Department of Quadrant Engineering plastic products in Scranton says they reimburse their employees directly up to $5,250 annually for job-related courses after their course is completed, and for a grade “C” or better must be earned to be eligible for reimbursement. Employees have no restrictions and can choose any school desired. The $ 5,250 is spent the way needed. Cynthia Konrath, Vice President of Human Resources for Weiler Corporation in Monroe County, which manufacturers industrial brushes and abrasives says they offer two reimbursement programs. If the course of study is directly related to the employee’s job, the company will reimburse up to $3,000 per calendar year.
In June 2000, 6000 units of paper-based packaging1 were manufactured and sold. This amount accounted for 80 % of the company’s overall production capacity and was considered as an average, in terms of activity, based on the last two years’ figures. The sales manager, M. Juan Manuel Afonso, has been recently contacted by a new potential customer, the Multilever Food and Beverage Company (MFBC). This group is n° 2 on the European market a nd is currently reorganizing its production centres. Spain is going to become the main centre for packaging cold beverages and MFBC wants to replace glass, PET, metal bottles and cans by paper-based packaging.