...company since June 2014. She is presently a care taker in our elder department. Her current salary is $1,835.20 a month. She also earned vacation, holidays, overtime, and bonus pay with generous health and life insurance benefits. The outlook for her continued employment with us is very good and we hope to have her with our company for many years to come. If you have any questions regarding her employment situation, please feel free to contact us at the number listed below. 386-938-2032 sincerely Assistance Manager Racheal Strickland Racheal Stickland Sincerely She is presently a care taker in our elder department. Her current salary is $1,835.20 a month. She also earned vacation, holidays, overtime, and bonus pay with generous health and life insurance benefits. The outlook for her continued employment with us is very good and we hope to have her with our company for many years to come. If you have any questions regarding her employment situation, please feel free to contact us at the number listed below. 386-938-2032 Sincerely, She is presently a care taker in our elder department. Her current salary is $1,835.20 a month. She also earned vacation, holidays, overtime, and bonus pay with generous health and life insurance benefits. The outlook for her continued employment with us is very...
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...An Alpine Divorce by Robert Barr In some natures there are no half-tones; nothing but raw primary colours. John Bodman was a man who was always at one extreme or the other. This probably would have mattered little had he not married a wife whose nature was an exact duplicate of his own. Doubtless there exists in this world precisely the right woman for any given man to marry and vice versa; but when you consider that a human being has the opportunity of being acquainted with only a few hundred people, and out of the few hundred that there are but a dozen or less whom he knows intimately, and out of the dozen, one or two friends at most, it will easily be seen, when we remember the number of millions who inhabit this world, that probably, since the earth was created, the right man has never yet met the right woman. The mathematical chances are all against such a meeting, and this is the reason that divorce courts exist. Marriage at best is but a compromise, and if two people happen to be united who are of an uncompromising nature there is trouble. In the lives of these two young people there was no middle distance. The result was bound to be either love or hate, and in the case of Mr. and Mrs. Bodman it was hate of the most bitter and arrogant kind. In some parts of the world incompatibility of temper is considered a just cause for obtaining a divorce, but in England no such subtle distinction is made, and so until the wife became criminal, or the man became both criminal...
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...do this, what happens if I fail, how do I juggle my personal responsibilities, will this degree even matter? Now there are credible fears and ludcrious fears in life and for me all these fears boil down to the fear of failure- I don’t want to go through all this hardship and end up flat on my face. I even would go as far to say that most of my early life’s disillusionment stemmed from this fear. Rather than try I would just be critical of those who did. Taking my education and viewing it as a life enhancement will help me during the times of struggle towards my degree. Ultimately, whether or not this gets me a better paying job, the tools I learn here will help me in all the endeavors of my life. Taking this approach will impact the outlook when life wont work how I think it should based on what I’ve done. The question now is, understanding the challenges I face, how will I take responsibility of my success? As I’ve alluded to before, the first step is to transform the way I think. It will do me no good when the struggles arise if I look at college with resentment. I must see this as value added. For me, when things are a positive, it makes it easier to handle the bad that always come along with it. The follow through with this will be the pratical application of this mindset. Some of these would be to prioritize my time and make the most of it when I have it. In conclusion, I find that life is a summation of choices and whatever has happened in your life, you can choose...
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...The Vershire Company has to keep tight controls over their plants, budgets, and performance in terms of efficiency and effectiveness, because customers can easily purchase from another manufacturer if cost, quality, and service are not met. The planning strength of the Vershire Company is that a sales budget is formulated at the corporate level and starts with a forecast, which is created and sent to the divisional managers for review. This allows divisional managers to have some input for their budget, which will add to the accuracy. Corporate controllers also visit each plant for additional input before final submission. The company I work also formulates a sales budget; we are actually starting the process in October. We look at our historical sales data, our current sales, and our sales targets for the coming year. The sales budget leads to the development of the other budgets, manufacturing, production, purchasing, inventories, sales and other expenses. Our budgets are usually determined by end of November, no later than mid December for the New Year. All departments have input and are responsible for their budgets. Our forecasting and planning efforts are examined on a monthly basis throughout the year as well as daily inputs from the sales quotation department through their quote follow-up efforts. This allows us to keep tighter controls on inventories to keep us within the set budget as well as keep reasonable lead times for the different product lines. The weakness...
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...CASE STUDY VIDEOCON INTERNATIONAL LIMITED Mr Sanjay Nigam has recently got an elevation to the level of area sales manager in Videocon International Ltd. One of the important tasks that he has to perform is to allocate quota among his five divisional sales managers. Mr Sanjay received his quota for 2010 in September 2009. He has to determine an equitable allocation of that quota. The incentive plan of the company is largely based on the quota allocation system. A portion of Mr Sanjay's compensation was also based on the level to which his divisional sales managers would be able to achieve the quota. Mr Sanjay has proved himself to be a successful sales executive after he graduated from one of the leading business schools of India. He was heading the refrigerator business for Videocon and then he was given the responsibility of managing the sales in the area covering different states in south India. In 1985, through a technical tie-up with Toshiba (Corporation of Japan, Videocon International limited launched India's first world-class colour television. Today, Videocon International Ltd., the flagship company of the Videocon Group, is India's leading manufacturer of consumer electronic products. Fired by a passion for innovation, Videocon has kept pace with the changing face of technology, constantly upgrading its manufacturing facilities to incorporate advanced technology and high standards of quality into its product range right across the spectrum. Committed...
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...accounting principles • Ensure that all financial transactions are handled and processed in-line with the approved policies and procedures. • Oversee the daily operations of the finance department • Prepare the monthly financial reports with all needed financial and costing analysis comparing with Budget and KPIs. • Manage the preparation of the official annual report of actual revenues, transfers, and expenses. • Manage the preparation of financial outlooks and financial forecasts in coordination with the CFO. • Ensure that the company are continuously keeping sufficient fund to fulfill its financial obligation by preparing monthly cash flow forecast. Monitor the actual cash flow against forecast and take the necessary measure to remedy variances. • Direct and coordinate debt financing and debt service payments with external agencies and monitor terms, conditions and covenants and ensure compliance with the same. • Prepare financial analysis for contract negotiations and product investment decisions. • Ensure compliance with local, state, and federal budgetary reporting requirements. • Lead and coordinate with all other department the preparation of annual operating budget and developing 3-10 years business plans for the company. • Recommend benchmarks for measuring the financial and operating performance of divisions and departments. • Establish and implement short- and long-range departmental goals, objectives, policies, and operating procedures. • Design, establish...
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...Nathan Butkovich ACTG 430 Homework October 17, 2013 Ex. 1-1 1. A. They have different missions. 2. C. Budgets 3. C. Provide service to constituents. 4. C. There may not be a direct relationship between revenue raised and demand for the entity’s services. 5. B. GASB 6. C. 89,000 7. D. Do not issue common stock. 8. C. Current-year revenues are sufficient to pay for current-year services. 9. B. Ensuring that budgeted revenues are equal to or exceed budgeted expenses. 10. C. Reporting on budgetary compliance. Ex. 2-1 1. Enterprise fund = $8,000 2. Special revenue fund = $2,200 3. General fund = $10,400 4. Enterprise fund = $4,000 5. General fund = $1,040 6. Internal service fund = $140 7. Internal service fund = $6,300 8. General fund = $8,500 9. General fund = $900 10. Internal service fund = $0 Continuing Problem (Ch 2) 1. Three main sections include: introduction, financial sections and statistical section. 2. a. They were awarded a “certificate of achievement for excellence in financial reporting” in the previous year. i. What’s the significance of the award? It’s the highest standards in government accounting and financial accounting. b. Key issues addressed include: an overview of the city’s government, economy and outlook. Certificate of achievement for excellence in financial reporting, and acknowledgements. 3. a. There was an audit performed on the city’s financial statements done by Deliotte & Touche LLP. b. Yes, the...
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...The Operating Budget Dr. Marion Lee PAD 505- Public Budgeting and Finance May 4, 2014 Abstract This paper will give the Operating Budget for the City Of New Orleans. It will provide the agencies mission, goals, objectives, departments and strategic plan. It will describe the budget of the agency by addressing the Financial Summary, including revenue expenditures, department budgets, funding, capital projects and debt administration. This paper will also perform a Cost Analysis which will include fixed cost, step-fixed cost, and variable cost. It will identify one to two challenges a Budget Analyst will have in managing the budget. This paper will recommend two to three strategies the agency should review regarding new initiatives and budget cuts over the next five years. Introduction With roots spanning all the way back to the 1700’s, The City of New Orleans is the Largest Metropolitan city in the State of Louisiana. It is a port city, which had a population of 343, 829 as of the 2010 U.S. Census (Bureau, 2012). The mission, goals and objectives of the city are to have more public safety, more job creation, more recreation for the youth, and to reduce blight in the city. New Orleans is still in a transition stage. Even though it has been 9 years after Hurricane Katrina, one of America’s Deadliest Hurricanes, the city is still rebuilding, still restructuring and actually still growing. Hurricane Katrina affected the city’s economic wellbeing. The city has several...
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...Financial Management Author’s name: Stuart Lauderdale Student ID: 21330588 Date: 21st January 2014 Module: Managing budgets and Interpreting Financial Statements Module Code: BM459DO Contents 1.0 Introduction 3 2.0 Method 4 3.0 Budgeting Systems Overview 4 3.1 Budgeting-Key Considerations 6 3.2 The Difference between Profit Centres and Investment Centres 7 4.0 Lightning Limited Illustration 8 4.1 Lightning Limited Analysis Using Accounting Ratios. 9 4.2 Lightning Limited Summary 10 5.0 DPG Budgeting Method 11 6.0 Summary 11 Bibliography 13 1.0 Introduction The purpose of this report is to analyse the system employed by the Operations department of Dominos Pizza Group (DPG) in creating budgets with reflection on the system’s suitability by reviewing alternative methods. The importance of timeliness and other budgetary measures will be factored into the report. The key inputs for designing a budget will be explored along with further research to illustrate the difference between both a Profit and Investment Centre. The financial statements provided for the Lightning Company will be analysed and a minimum of eight financial ratios will be used to determine accomplishment of said company from two perspectives. One being management of the said company and the other being as a prospective investor. All findings will be reported and presented as clearly as possible to enable anyone new to...
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...1. There are a few areas of concern with the Budget that Competition Bike, Inc. has displayed within their budget for year 9. The most prominent area of concern in is in the Revenue section of the budget. In the budget for year 9, Competition has included units sold to be 3510. This is a lofty prediction given that year 8 had seen such a big decline in that number. In year 8, Competition sold 3400 units, but the previous year had sold around 4000 units, a 15 % decline. The company is hoping for an upswing, but this may be too positive of an estimation. To go with that, Competition is only allowing for $984 more dollars in advertising for year 9. If they had budgeted maybe $2000-$3000 more to this category to get to where their advertising spending was in year 7 when they sold 4000 units, their budget of increased sales in year 9 would not be as suspect. In the Budgeted Income Statement, Competition Bikes has budgeted $1340038 for Selling, General, and Administrative Expenses. This is a little high as in year 7, when the highest number of units was sold, that category totaled $1322075. Sometimes this number is budgeted high to help show how well the company managed the budget, as they have built in extra that they know that they can beat. This is not in the best interest of the company, however, because the goal is not aggressively set, and there is no real push to beat the budgeted amount. The other concern with this area is that a lot of the key components in...
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...Vershire Company & Aluminum Industry Industry of Aluminum Aluminum. Less spillage or breakage, ease of storage at home or when people travel, maintenance of soft drink carbonation, ease of lithograph and ease of recycling, aluminum production is one of the modern era’s great economic stories. The world’s primary aluminium industry produces over millions ton of aluminium metal per year. The most important markets for aluminium products are the transport, building and packaging sectors, however aluminium also finds application in electrical and mechanical engineering, office equipment, domestic appliances, lighting, chemistry and pharmaceuticals. The United States aluminum industry is the worlds largest, annually producing about $.1 billion in products and exports. U.S. companies are the largest single producer of primary aluminum. The U.S. industry operates over 00 plants in 5 states , produces more than billion pounds of metal annually and employs over 145,000. Aluminum is one of the few products and industries left in America that truly impacts every community in the country, either through physical plants and facilities, recycling, heavy industry, or consumption of consumer goods. The aluminum industrys performance is noteworthy, particularly in light of the proliferation of alternative materials and global competition. Transportation represents the largest market for aluminum in the United States. In 000, transportation accounted for .5 percent of all US...
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... | |E-MAIL RANYIDOHO@AGRICBANK.COM, RFANYIDOHO@YAHOO.COM | Date of Birth: 24TH June 1971 Nationality: Ghanaian Gender: Male Marital Status: Married Summary of Work Experience • Experience in LAN/WAN Design, Installation and Implementation. • Conversant With Windows NT/Unix Systems Administration • Experience In Windows 2000/2003 Systems Administration • Good Working Knowledge In TCP/IP • Experience In Configuring And Installing Electronic Mailing System • Experience In Microsoft Exchange Server 2000/Microsoft Outlook 2000 and Outlook 2003 • Experience In Configuring And Installing Intel/Alpha Based Servers • Experience in providing Technical support to the following software’s; a. Microbanker b. Flex cube ver. 3.2, 4.6 and 11.2 c. Money gram d. Western Union e. Orfeo Personal Profile • A self-motivated person who achieves set goals. With varied work experience l am well suited and adaptable to different roles: able to work as an individual, team leader or member. • Possessing excellent interpersonal skills, which enable me to...
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...CASE STUDY Vershire Company In 1996 Vershire Company was a diversified packaging company with several major divisions, including the Aluminum Can division - one of the largest manufacturers of aluminum beverage cans in the United States. Exhibit 1 shows the organization chart for the Aluminum Can division. Reporting to the divisional general manager were two line managers, vice presidents in charges of manufacturing and marketing. These vice presidents headed all of the division’s activities in their respective functional areas. The Aluminum Can division’s growth in sales slightly outpaced sales growth in the industry at large. The division had plants scattered throughout the United States. Each plant served customers in its own geographic region, often producing several different sizes of cans for a range of customers that included both large and small breweries and soft drink bottlers. Most of these customers had between two and four suppliers and spread purchases among them. If the division failed to meet the customer’s cost and quality specifications or its standards for delivery and customer service, the customer would turn to another supplier. All aluminum can producers employed essentially the same technology, and the division’s product quality was equal to that of its competitors. Industry Background1 Traditionally, containers were made from one of several materials: aluminum, steel, glass, fiber-foil (paper and metal composite), or plastic. The metal container...
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...money determines the extent of the activity that can be done. The way to accomplish certain goals and objectives is by preparing a budget to translate those financial resources to actual happenings. A budget is a written plan that estimates and proposes alternate expenses for certain items and other purposes; essentially it puts prices on goals. Budgeting is mainly to prioritize the allocation of resources, so you can make a plan to reach an objective. The use of traditional “incremental” budgeting and zero based budgeting have made their appearances in history, mainly opposing each other on opposite ends of the spectrum, although either may be favored for your organization pending on your preferences on achieving your goals. While there is a similarity between the two of supporting the planning and decision making of the organization, the focus here is how they contrast one another and how they are used. To be discussed are the contrast points between the two approaches which are contained in the process of which they gather data to make their budgets and the way they implement their budget actions. The traditional budgeting process was a theory formed by Aaron Wildausky that erupted in America. The budget is produced by using the historical budgets of the previous year to eventually determine the upcoming year’s budget. The decisions on the budgets are determined by the top management within the organization which causes more control on conflict and...
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...A SUMMER TRAINING REPORT ON “STUDY OF CORPORATE BUDGET AND PROJECT APPRAISAL” SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF DEGREE OF POST GRADUATE DIPLOMA IN MANAGEMENT (FINANCE) By Abhay Goyal 13DM006 Under the guidance of Dr. Girish Jain Mr. Anil Kumar Professor DGM (F&A) Accounting and Finance ONGC BIMTECH New Delhi 2013-15 TABLE OF CONTENTS CONTENTS CERTIFICATE FROM MENTOR v CERTIFICATRE FROM HR vi SUMMER PROJECT CERTIFICATE vii ACKNOWLEDGEMENT viii LETTER OF TRANSMITTAL ix LETTER OF AUTHORIZATION x EXECUTIVE SUMMARY 1 1. INTRODUCTION TO THE COMPANY 3 1.1 Background 3 1.2 Overview of the Company 3 1.3 ONGC Group of Companies 4 1.4 Basic Information 5 1.5 Organization Structure (CRC) 5 1.6 Vision and Mission Statement 6 1.6.1 World Class 6 1.6.2 Integrated In Energy Business 6 1.6.3 Dominant Indian Leadership 6 1.7 Strategic Vision 6 1.8 Salient Features about ONGC 6 1.8.1 ONGC in Global Rankings 6 1.8.2 ONGC- Achievements in ensuring Energy Security of India 7 1.9 Corporate Social Responsibility 7 1.10 Future Outlook 8 1.11 ONGC Offices All Over India 8 1.12 Organization Structure of the Finance Function of ONGC 9 2. FINANCIAL STATEMENT ANALYSIS 11 2.1 Financial Performance of ONGC (2012-13) 11 2.1.1 Sales of ONGC 11 2.1.2 Net Profit of ONGC from the Year 2007-13 11 2.1.3 Debt-To-Equity Ratio 12 2.1.4 Dividend of ONGC from 2007-13 12 2.1.5 Earning Per...
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