...review, accruals and intercompany transactions and balancing Analyzed bank accounts and lockboxes, investment of excess cash and draws on lines of credit. Cash Application Performed general ledger review and general account reconciliation responsibility for select accounts; Performing ongoing Sarbanes-Oxley review and control testing in conjunction with other North American Shared Services and TRW Operating Units accounting department personnel Effective communication skills - including the ability to listen to the needs of others, research and comprehend complex matters, articulate issues in a clear and concise manner, and present findings as well as recommendations in both oral and written presentations. Performed inter-company account balancing, account analysis, tax computation, sales and use tax filings, fixed asset accounting, month end closings and trial balance submissions to headquarters. Key Accomplishments 1. I was promoted from Senior A/R collection representative to Accountant 1 with 6 months of my hire. 2. I am solely responsible for balancing accounts totaling $180 million dollars monthly. 3. I am very punctual and have a great ability to multitask. 4. I work great in teams and also can thrive in a fast pace work environment. A/R & Cash Application Supervisor Ct Partners, Beachwood, Ohio 2014 to July 2015 Analyzed bank accounts and lockboxes, investment of excess cash and draws on lines of credit. Cash Application. ...
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...Study of Overall Finance Department at BHEL, Bhopal SIP project report submitted in partial fulfilment of the requirements for the PGDM Programme Institute of Management Technology, Nagpur 2010-12 ACKNOLEDGEMENT I take this opportunity to extend my deepest gratitude to all those who have helped me in the completion of this project and my Summer Internship Program. First of all I wish to express my profound thanks to the management of the Institute of Management Technology, Nagpur for providing me a platform for industry exposure and training. I am thankful to Mr. Girish Shrivastava, GM HR, BHEL Bhopal, and Dr.G.L.Pradhan Coordinator, BHEL Bhopal, for showing trust in my abilities and providing me an opportunity to work and have a learning experience. I have put in my best efforts to justify this trust and to ensure that the value addition resulting from this project is mutual. I am extremely grateful to my Company Guide Mr. K.S. Mathur, Sr. DGM Finance, BHEL Bhopal, for providing the guidance and advice towards the completion of this project study. His constant support and valuable inputs from time to time helped me a lot in conducting this study. The resources and the documents provided by him also helped a lot. Guidance from my Institute guide, Prof Agam Nag, has played a significant role in the preparation of this report. His experience in academics contributed a lot to the conceptual framework discussed in the report. I would like to express my thanks to Prof...
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...RFP for a Transportation Management System. Information on Vendor/Bidder Profile A brief history and core competence of bidding company. This section allows buyer to capture detailed information about the prospective vendor and the type of support it is capable of offering to meet buyer needs. This section will cover information like: • General Information: company name, corporate address, telephone number, fax, website, year founded, Company CEO and years with company, senior management team (names, titles, years with company), etc. • Contact Information: Proposal contact name, Title, Contact address, Contact telephone, Contact e-mail address, and Contact mobile phone. • Financial Standing: Private or Public, stock exchange and ticker symbol as applicable, Ownership Symbol, Month in which fiscal year starts and ends, YTD Results- consolidated revenue and profit, current balance sheet information, Litigation is applicable, etc. • Employee Information: Total number, number by function, G&A, other. • Support: Warranty, Maintenance, etc. • User Group Information. • Customer Base Information. • Training Program: virtual/online web training, on-site training, etc. Note: attach supporting documents for any of the above information for additional reference. Bidders to provide response on the below questions in their TMS offer as the following sectional questions comprise ‘Must Have’ features and priorities for shipper’s TMS implementation: Information on Functionality:...
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...Business Law: Lecture 10 Bailment: Temporary transfer that allows you to transfer the possession for usage. Example: Lease a Car Types of Bailment: 1. Bailment for Value: when there is a payment for the usage of property. Example: Leasing a rental car for a vacation/crossing the boarders. 2. Gratuitous Payment: when dealing with a payment that requires no transfer of funds. When there is a risk of money there is a higher standard because you’re making an economic performance. Example: Borrowing the snow blower of your neighbor. Obligations that comes with the contract: 1) Determine the service provided Example: Rent a storage place, now you have a facility. Example: Storage Wars, Homeland Security. 2) Deals with the notion of Payment terms: how much you’re paying for a month, if you don’t pay inside the terms they are entitled to seize it. Example: How in storage wars they are bidding and auctioning storage units. 3) The extent for damage or loss. Example: When there is a delivery of a good by a company, whoever is under the control is responsible for the delivery. Unless they waive any liability in the agreement, they are responsible for reasonable care and diligence. Under the law in our society, normally the delivery company is liable for a value of $40; if we don’t specify a higher value they only pay the first $40. Example: Canada post, on the letter it’s protected if they lose the letter they’re done. Postal System is national...
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...Save Reset Print Name(s): Course & Selection: Identifier: Client: Chapter 03: Financial Accounting Exercise 03-02: Basic Financial Accounting Process Single Company Code Version 1 Rev: 01/03/2011 Introduction General Notes and Information It is strongly recommended that you read through the entire exercise prior to starting. Not all instructions can be provided in a linear manner. The following symbols are used to indicate important information as described below: An arrow highlights an important instruction that must not be overlooked. A text box prompts you to type-in an important piece of information. Each student or group will be assigned a unique three digit identifier. This identifier is used in all exercises to uniquely identify your data. Whenever you see ### in these exercises, replace it with your identifier. Always work with your data. Business Process Overview The financial accounting process allows GBI to pay vendors for services or materials acquired. This process can be used to pay for liabilities that GBI has incurred due to normal operations. This exercise is about paying off liabilities within the accounting statements. Chapter 04 Save Reset Print Chapter 03: Financial Accounting Exercise 03-02 Exercise 04-02 Exercise Prerequisites Chapter 04: ProcurementFinancial Accounting Master Data-SCC Exercise 3-1 Process Exercise 04-02: Basic Procurement Process Exercise Single Company Code Workflow Invest in GBI View Account Balances Purchase...
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...Question 2 The company RFC encounters some difficulties in its payment processing system. Re-engineering might solve some of the issues faced by its managers. First of all, a full understanding of the five different problems RFC listed in this case study is necessary. Althought each one of these problem is unique, affects different part of the organisation and have their own consequences, they all come from the same origin: Complexity of information management and communication Process too slow Here are some possible changes that would improve the payment processing. Eliminate the possibility for the customer to pay in the Home Office directly. Indeed, the Home Office have huge difficulties to find informations about the payment, leading therefore to lots of errors of payments (Problem #1). This action will simplifies the payment processing and reduce factors of errors and clerical work (Problem #3). Beside, it will also reduce the time needed to make necessary file updating. There is a delay between the moment a payment is made, and the moment when this fact is taken into account in the business process database. Alas, no matter the changes in the processes, there will always be a little delay. In this case, batch payment processing is run every evening to update all data centrally, so the delay is at least 1 day long. An action would be to urge managers of the branchs to hurry to update particuliary important file each time they have to make a modification...
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...there is no employee involvement in setting up salary structure, and there is no job evaluation committee. Also, this structure is necessary to be able to evaluate the relative worth of each job compared to key jobs, to categorize, rank jobs into rate ranges, to ensure there’s no discrimination in terms or gender, race and religion, and to make sure that the salary is related to the employees’ performance and capability. 2. Paying 10% more attracts more applicants to this job. Jack believes that it provides employee loyalty and reduces turnover. The problem with this is that it makes employees loyal to high pay rate and it reduces the turnover for only those employees who only concern about the salary rate, however indirect financial payments and other factors also influence the employee’s turnover. 3. Carter’s male-female differential is not wise in my opinion. The salary should be based on performance, and not gender. This disobeys the Equal Pay Act, and it doesn’t maintain individual equity. It is discrimination against female workers. His pay plan is inefficient. It can create conflict and arguments between female and male workers, since it’s not fair. Male workers may not work in optimum performance, and female workers have job dissatisfaction, arguments and grievance. 4. I would suggest Jennifer to set up a logical pay plan properly. Jennifer and Jack should conduct salary survey, evaluate each job,...
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...CASE STUDY 3 - Cash Budget | | | | | | | | | | | | | | | | | | SCHEDULE OF EXPECTED CASH COLLECTIONS FROM CUSTOMERS: | | | Credit Sales | | | May | June | April | | (94,000 * 0.70) = 65,800 | 65,800 | | May | | (89,500 * 0.30) = 26,850, June (89,500 * 0.70) = 62,650 | 26,850 | 62,650 | June | | (75,000 * 0.30) = 22,500 | | 22,500 | Total Cash Collections | | 92,650 | 85,150 | | | | | | | | | | | SCHEDULE FOR EXPECTED PAYMENTS FOR PURCHASE OF INVENTORY | | | Inventory purchases | | May | June | April | | (195,000 * 0.60 ) = 117,000 | 117,000 | | May | | (135,000 * 0.40) = 54,000, June (135,000 * 0.60) = 81,000 | 54,000 | 81,000 | June | | (63,000 * 0.40) = 25,200 | | 25,200 | Total Payments for Inventory Purchases | 171,000 | 106,200 | | | | | | | | | | | | LBJ Company | | | | Cash Budget | | | | For the Two Months of May and June | | | | | | May | June | Cash balance | | | $20,000 | $20,000 | Add: Receipts | | | | Collections from customers | 92,650 | 85,150 | Sale of plant assets | | 33,000 | | Sale of new common stock | | 50,000 | Cash sales | | | 75,000 | 57,000 | Total receipts | | | 200,650 | 192,150 | Total Available Cash | | 220,650 | 212,150 | Less: Disbursements | | | | Purchases of inventory | | 171...
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...Karen Pletz, 64, was president and CEO of the Kansas City University of Medicine and Biosciences from 1995 until 2009. She had taken on many civic leadership roles and was honored as one of the area’s top businesswomen. She had a great reputation in her community up until late 2009 when questions began surfacing about how the school finances were being handled, which brought about her immediate termination. In March of 2010 the university filed a lawsuit and the federal indictment describes a scheme in which Pletz embezzled from KCUMB by wrongfully receiving more than $1.5 million in payments from the osteopathic medicine and life sciences school, according to fbi.gov. Unauthorized Pay She wrongfully took $1,409,500 from the University in unauthorized pay by causing minutes of nine executive committee meetings to be created when meetings did not even take place. The payments for the meetings were referred to as leadership stipends and leadership compensation. They were typically in the form of a $65,000 lump sum. When her secretary informed her that she had no signatures confirming the meeting, Pletz stated, “Well, you’re a smart girl, make sure you just fix it.” Anyone put in this situation would feel their job safety was being threatened. So the secretary did what many people would do and photocopied signatures to put on the meeting reports. Travel and Entertainment She also submitted fraudulent vouchers to receive reimbursements for travel and entertainment...
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...get a fresh start or remain on the same team.The one week training allows employees to see a new start where they have the chance to succed again. If the employee does not do well then they will be terminated. •Recommend two ways to control compensation costs that do not decrease employee motivation or productivity. To control compensation cost that do not decrease employee motivation or productivity I would look into two methods. One would be to have monthly reviews of the team and give the team that proformed the best that month a day off. The second would be to give the team a LTE instead of a yearly bonus. The LTE would be 2/3 payment of the 1.5 years.This means that instead of getting a bonus every year you get a bonus every year and a half. The value of the bonus would be 2/3 of your yearly bonus(2/3 + (.5(2/3)) is the payment the employee recieves every time they complete 1.5 years of service. In this case the bonus would be bigger than the year end bonus. And still save the company money. This way the employee feels very motivated to work hard for the bigger pay...
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...process in which by medical billing specialist to provide maximum, payments for medical services that are provided. The medical billing process contains ten steps and these steps are made up of three categories: The visit, the claim, and post claim. During the visit steps one through four occurs. Pre-registering the patient is the first step. This where an appointment is scheduled and updates are made to pre-register the patient. Collection of all information such as, insurance and demographics on the patient is collected during this visit. Reason for the visit is provided at this time. Determining the patient’s financial responsibility is the second step. If the patient has insurance coverage verification of patients eligibility must be made .The patient is responsible to pay whatever percent of the bill that the insurance does not cover and if no insurance is provided the patient is responsible for the cost of all services that have been provided. The third step of the process is checking the patient in. New patients are required to provide medical insurance if available and medical information is collected for the patients’ file. If patient is a returning patient then information is verified and if any information is incorrect or has changed then it is then updated. Photocopies of Drivers licenses and insurance cards are taken and filed in the patients’ record. If there are any Co-payments that need to be made are they are paid before or after the visit...
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...Offer for Wind Power Project in Tamilnadu State (i) Project Size 1.50MW (1 Nos. Wind Turbine Generators - WTGs of 1500 kW capacity each, Model S-82– 80) (ii) Site Site : Nellali, District : Coimbatore, Tamilnadu (iii) Delivery We shall commence delivery 3 months from the execution of Contract(s) between us and receipt of Advance payment. The indicative time frame for completion of the project is 9 months from the date execution of purchase order and receipt of advance. The Supply of the above goods as defined in the scope shall be from our manufacturing units in India on ex – works basis. However, we shall arrange for transportation of goods on your behalf which are included in the above quotation. The delivery schedule will be decided mutually. The above supply will be made in parts and will be delivered at project site in more than one consignment and will be invoiced accordingly. Adherence to the delivery schedule shall be subject to release of all payments as per agreed terms, timely submission of TIN No. and necessary road permits and any other relevant details required for the dispatches. No claim whatsoever shall be entertained for any delay in supply at the site caused by any issues related to statutory clearances from various Govt./ Semi Govt. authorities. The packing for the goods will be as per the industry’s prevailing standards. We will assure proper care of goods for safe delivery at your project site. (iv) Total...
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...to HQ for equipment 10. Suppliers send equipment to warehouses 11. HQ pays suppliers 12. Warehouse distributes equipment to stores and customers that made orders 2. A. List the specific items of information that are usually gathered at the POS (Point of Sale terminal or cash register) and recorded when a customer checks out (excluding obtaining the identity of the customer which is covered in Q3)? Staff Information | * Staff name * Staff position * Staff ID | Buying Product (s) | * Date and time * Transaction # * # of items sold | Cash Register Information | * Register # * Register model | Product Information | * Product barcode * Price of item * Color/style of item | Payment Information | * Payment method * Credit/debit card # * Total amount paid * Promotion code * Discount code | Store Information | * Store name * Store address | B. What are three important uses of this information at the store by the store manager and by management at the headquarters– a total of six uses? | Information Elements...
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...Ethic is a knowledge each individual should have embedded in them. To know right from wrong makes me as an individual at peace. I hate the feeling of trying to cheat someone, more or so con them. Living life the right way will make life flow through with simplicity. Yes, at times cheating can be beneficial but can it last and can it bring happiness? One day last month, I was at the laundry mat; I had decided to check my bank account. Come to find out a transaction in the amount of $311.44 was charged on my card for a payment to a Sam Clubs credit card. I was absurd, mad, angry, furious, and frighten. I knew it wasn’t me who done the transaction, I don’t even have a Sam’s Club credit card, only a membership with them! So not knowing what was going on, I called my bank immediately and ask to speak to their frauds department. I explained to them the transaction listed for that amount and that date was not authorized by me. They were really polite and assisted me with great customer service. The female representative who handled my situation told me that if in ten days, they still have not yet resolved the unauthorized transaction then I will automatically receive the full amount that was charged on my account. At this point my account was completely closed; I didn’t want any activity going in or out of the account. A couple of days after reporting the incident to my bank, I spoke to my sister who lives in Minnesota, who I regularly speak with. After our conversations of asking how...
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...company’s General Manager, Encik Selamat has close relationship with one of the executive directors of Cold Gold Sdn. Bhd., Encik Azman. This relationship has enabled Cold Gold to extend its credit limit with authorization from Encik Selamat and not the Credit Controller (Ms. Choy) | The company should avoid personal conflict of interest that will caused ineffectiveness in operating the business. | 3 | * The company faced tight cash flow as the collection method was inefficient. * Monthly repayment schedule was not sent to customers to confirm the payment made. * Aging list not produced by the credit controller section to identify non-payment clients and follow up with further actions. * Not properly recorded the document, payment by Mr. Siva was not recorded even though receipt was issued as proof of payment made. | * Improve on collection method by sending statement of account to the customer and encourage early payment by provide discount. This statement of account is important...
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