MEMORANDUM November 15‚ 2013 TO: Sarah McDougal‚ Manager of Disbursements at Ramsville FROM: Team 5 SUBJECT: Process Improvements for Ramsville ______________________________________________________________________________ Team 5 will be analyzing and providing recommendations on how to improve the issue of overdue payments to suppliers at Ramsville. After walking the process‚ creating a current value stream analyzing data‚ Team 5 has suggestions on how to increase efficiency by eliminating
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Q3: Financing its growth in 1997 (Hint: exhibit-4 and 5) Can be done by using projected financial statements Working Capital requirements Comparison of working capital improvements and profitability improvement Forecast 1997 BS Additional sales of $2648 million imply additional operating assets of $779 million. In 1996‚ the 1997 profits would be $405 million. AFN would be $315- current liabilities may affect AFN For efficient management of working capital: Improve margins Reduce
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Petoskey Power Equipment Service Harry L. Oldham POM 651 - Advanced Operations Analysis Group # 6 INTRODUCTION Petoskey Power Equipment Service (Petoskey Power) is owned and operated by Harry Oldham in the North West section of New Bedford‚ Massachusetts. It is a one-man operation where Harry performs all aspects and functions of the business. His primary job function is to repair power tools of all types and sizes; from the most basic
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1. Sadie incorporates her sole proprietorship with assets having a fair market value of $80‚000 and an adjusted basis of $100‚000. Even though § 351 applies‚ Sadie may recognize her realized loss of $20‚000. F True False 2. For § 351 purposes‚ stock warrants are included in the definition of "stock." F True False 3. In order to retain the services of Paige‚ a key employee in Byron’s sole proprietorship‚ Byron contracts
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Study Support Internal Control and Accounting Systems (ICAS) Disclaimer Study Support materials comprise non live assessments that were created for the 2003/2006 standards and do not resemble assessments designed for the AAT Accountancy Qualification (launched July 2010). There are some topic similarities between the 2003/2006 standards and the AAT Accounting Qualification (launched July 2010). Practice assessments‚ guidance and standards for the AAT Accountancy Qualification (launched July
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Case Title: Milliones Manufacturing Company I. Point of View The president II. Time Frame Three months III. Statement of the problem There is a 5 day lag between the time the company shipped an order and the time invoice of the order went into the mail. And this lag results for the delay of the costumer’s payments‚ thus slowing down collection of receivables. IV. Statement of objective The objective is to clear the bottleneck that result to unproductive
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different people who seemed like your everyday "Joe‚" but were actually criminals who committed fraud. Some of the frauds committed in this movie were: Cash Fraud‚ Accounts Receivable Fraud‚ Expense Fraud‚ purchasing fraud‚ and corruption. Focusing on two individuals Pam and John‚ each of these criminals committed either cash or accounts receivable fraud. Pam was a graduate from high school who found work soon after graduation. She felt she wasn’t getting paid enough for her work so she started
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fraud scheme at Apollo involves accounts receivable due to the accounts being overstated. The overstatement is significant enough to warrant additional audit testing. The potential for fraud in the accounts receivables lies in the lack of review procedures for the allowance of bad debt. There is no clear guidance in how much should be set aside for this purpose. The atmosphere of Apollo Shoes‚ including Mr. Lancaster’s unwillingness to write off doubtful accounts‚ is a tense one at best. The
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Transactions Accounting Principles General Journal Cash Account Purchases ledger Sales ledger General ledger Trail Balance Jan 1 Started business by borrowing a loan of $50 000 from the Centrex Commercial Bank which was invested into the business along with his personal savings of $50 000. The loan carries an interest rate of 12% per annum. The following transactions took place during the year. 1 Purchased the following assets and paid for them by cash: Furniture and Fittings
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inefficiency in the procedures for processing and controlling delivery orders and sales invoices. Weaknesses in Internal Controls The first weakness in internal controls is related to the computerized function which included shipping‚ billing and accounts receivable are permanently assigned to a specific computer operator. Such arrangement showed the poor data center and network operations controls. As there is only one specific computer operator is assigned for a lot of major functions‚ he or she
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