...Target vs JC Penny Financial Statements Salencia Johnson Finance 350 01/19/2013 The two companies that I will compare are Target and JC Penny. When most people think of target they think of a large retail store where you are able to purchase a variety of things anywhere from home goods and décor, clothing for your family to groceries at a discounted rate. All of those things are true however those are not the only things that generate revenue for the company. Target also has a credit card segment which offers credit cards to qualified guest through their branded proprietary credit cards, the target visa and the target card. Additionally they offer a proprietary branded Target debit card. Together those different cards create a bond between the guests driving sales and contribute to the results of operations. Target’s key to their ongoing success is effective inventory management. Target utilizes various techniques such as demand forecasting and planning and various forms of replenishment management. Target achieves effective inventory management by being in-stock in core product offerings, maintaining a positive vending relationships and carefully planning inventory levels for seasonal and apparel items to minimize markdowns. In the retail segment target’s competition is with traditional and off-price general merchandise retailers, internet retailers, wholesale clubs, category specific retailers, drug stores, supermarkets and other forms of retail commerce...
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...Interrelationship of Financial Statements There are four basic financial statements produced that provide important information on the financial stability of an organization. These four statements are the income statement, statement of owner’s equity, balance sheet, and the statement of cash flow. Each statement works independently, but each of the four statements is connected directly or indirectly. The net income statement is prepared in order to prepare the owner’s equity statement. After the owner’s equity statement is prepared it is useful to find the cash position is at the end of each period. Because cash is reported as a current asset on a balance sheet information is needed to prepare the statement of cash flow. With these three pieces of information a balance sheet can then be prepared. Each statement provides specific amounts that need to be plugged in to the balance sheet. The income statement shows both Target and Walmart showed an increase in total revenue and gross profit for 2010-2011. There was also an increase of net sales and earnings. There was also an increase of earnings per share for both companies. Walmart reported a first quarter earnings per share of $0.88 a three cents increase above the company’s guidance and First Call consensus estimate (Walmart FY 11 First Quarter Earnings Exceed Guidance and First Call Consensus, 2011). Target reported an increase of earnings per share of 10% to 82 cents. The cash flow statements for both companies indicate...
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...Week 3: Individual Legality and Ethicality of Corporate Governance Alisha J. Simental March 6, 2014 Katherine Parks Introduction In Case 3-3, we are introduced to the United Thermostatic Controls," that engages in the manufacturing and marketing of residential and commercial thermostats."(S. Mintz, R. Morris, 2011) They use their thermostats control temps in refrigerators and furnaces, mainly selling to retailers. According to the text, economic conditions and the reduction of demand has created internal problems and tension to still achieve target revenues. In addition, the sales department is feeling the pressure to increase or expand earnings. The internal auditor found two cases that did not follow correct procedures, because the accounting department recorded revenue for these earlier in order to meet the target revenue, due to pressure from Campbell the director of sales division. In this paper I am going to discusses the legal activities, criteria of SOX act, ethical activities, and decide on the best nest step decision. Legal Activities The two shipments made up about 150,000 in revenue and were the main concern for the internal auditor. In the first shipment United ship the product on the 31st of December even though the company, Allen did not want it delivered before the 1st of February due to not needing it until the 1st of March. In the second shipment, the company shipped a partial shipment to Bilco Corporation on the 30th of December even...
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...Reproduction or translation of this book beyond that permitted by the applicable copyright law without Applied Accounting Analytics’ permission is prohibited. Requests for permission to reprint or for further information should be directed to bstanko@luc.edu or tzeller@luc.edu. ISBN: 978-0-9841839-2-0 To be completed by the student and submitted with the completed annual report project according to your instructor’s requirements. Complete the following before you submit your assignment. This step is required to validate your compliance with sections 107 or 108 of the 1976 United States Copyright Act. 1. Remove the front cover of the workbook and identify: Student Name:ASHLEY K BINEGAR Term: SPRING 1 2011 Selected Company: TARGET Instructor: 2. Print your completed electronic template. 3. Attach the following: • This page completed with all required information. • Completed Word template. Template boxes expand as you input responses. Adjust page breaks as necessary to submit a professional representation of your work. CHAPTER 1 - INTRODUCTION Select a Company and Gather Documents Chapter 1: Select a Company and Gather Documents – Question 1 Identify with an “X” the primary source of data for this project. Annual report to shareholders X Annual report to shareholders with a letter from Chief Executive Officer and SEC Form 10-K as part of the annual report to shareholders. The annual report may include additional...
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...of Content Mission Statement of Virginia Winery Ltd……………………………………………………………3 Financial plan ………………………………………………………………………………………….3 Task 1 - Develop financial strategies. 1.1-a Assumptions on which the financial plan has been developed……………………………….5 1.1-b Financial objectives in terms of finance requirements………………………………………..5 1.1-c Funding arrangements………………………………………………………………………...6 1.1-d Financial information requirements…………………………………………………………..9 1.1-e Financial performance targets and indicators………………………………………………..10 1.1-f Income statement projections………………………………………………………………...11 1.1-g Balance sheet projections…………………………………………………………………….12 1.2 Identify the appropriate staff and stakeholders within Virginia’s Wines that this plan should be communicated to, to enable effective implementation……………………………………………….13 Task 2 2.1-a Essential financial systems and records………………………………………………………14 2.1-b Legal and financial control systems…………………………………………………………..14 2.2-a A budget which is consistent with the financial strategies and plans…………………………17 2.2-b Revenue and expense projections for each forward period…………………………………...19 2.2-c Revenue and expense projections for each forward period…………………………………...19 2.2-d Balance sheet projection for the year………………………………………………………….20 Task 3 3.1. In monitoring the business operations explain what actions can be taken to ensure Virginia’s Wines achievement of their financial performance targets, and profit and return...
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...A. Executive Summary 3 A1. Company Identification 3 A2. Mission of the Company 3 A3. Business Goals 3 A4. Keys to Success 3 B. Company Summary 3 B1. Industry History 3 B2. Legal Form of Ownership 3 B3. Location and Facilities 3 B4: Management Structure 3 B5. Products and Services 3 C. Market Analysis 3 C1: Target Market 3 C2: Industry Analysis 3 C3: SWOT Analysis 3 C4: Competitive Analysis 3 D. Market Strategy 3 D1: 4Ps. 3 D2: Price List 3 D3: Promotional Strategy 3 D4: Sales Forecast 3 E. Implementation Strategy 3 E1. Overall Strategy 3 E2. Monitoring Plan 3 F. Financial Statements and Projections 3 F1. Forecasted Profit and Loss Statement 3 F2. Forecasted Balance Sheet 3 G. Financial Report 3 G1. Financial Projections 3 G2. Financial Position 3 G3. Estimated Capital/Investment Needs 3 References 3 A. Executive Summary COMPANY IDENTIFICATION Suggested length of 1–2 pages A1. Company Identification: Identify the company’s name and location. A2. Mission of the Company: Describe the mission of the company. A3. Business Goals: Discuss two business goals in support of the company’s mission. A4. Keys to Success: Discuss three keys to success for the company. B. Company Summary Suggested length of 4–6 pages B1. Industry History: Describe the history of the industry in which the company will operate. B2. Legal Form of Ownership: Identify the legal form that the company will take. B3. Location and Facilities: Describe the...
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...**Additional References for Business Plan Writing** Industry Analysis Industry analysis is business research that focuses on the potential of an industry. An industry is a group of firms producing a similar product or service, such as music, fitness drinks, or electronic games. Once it is determined that a new venture is feasible in regard to the industry and market in which it will compete, a more in-depth analysis is needed to learn the ins-and-outs of the industry the firm plans to enter. When studying an industry, an entrepreneur must answer three questions before pursuing the idea of starting a firm. i. First, is the industry accessible – in other words, is it a realistic place for a new venture to enter? ii. Second, does the industry contain markets that are ripe for innovation or are underserved? iii. Third, are there positions in the industry that will avoid some of the negative attributes of the industry as a whole? It is useful for a new venture to think about its position at both the company level and the product or service level. At the company level, a firm’s position determines how the entire company is situated relative to its competitors. \\Industry vs. Firm Level Factors To illustrate the importance of the industry a firm chooses to enter, research has shown that both firm- and industry-specific factors contribute to a firm’s profitability. In various studies, researchers have found that from 8 to 30 percent of the variation in firm profitability...
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...Investments BUY: ABERCROMBIE AND FITCH Analyst: Steve Bright The Midriff Exposed March 26, 2004 • We recommend ANF as a hold. Our price target of $34.23 is 6% below the current share price. • We believe the stock is fairly valued and should be purchased on dips. We remain cautious on the shares longer-term; we desire continued strong execution from Hollister and await ANF’s new concept store rollout. Source STOCKVAL • ANF continues to build cash and recently announced it will begin to pay a dividend in 04. Though beneficial to shareholders, we prefer to see management reduce prices with the intent to increase foot traffic and potential sales. We believe several competitors have begun to price apparel below that of ANF to increase their ROE. With regard to the dividend payment, we would have preferred for management to use the cash to repurchase shares, although the dividend is likely to appeal to value investors. • We believe ANF will continue to grow due to the overall structure of the industry. As teen spending continues to grow in proportion to the population, we believe there will be consolidation in the specialty retailers to leverage operations and brand recognition. Based upon the cash position of ANF, we expect ANF to be an acquirer of companies. • ANF has demonstrated the ability to successfully execute on its key critical success factors, including inventory management. We believe...
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...[pic] SOUND FINANCIAL REPORTING IS A GOOD THING FOR BRINGING CONFIDENCE BACK TO THE CORPORATE WORLD Submitted By: Ahmed Shafiul Huq 801414063 Principle of Accounting (EIB505) Section: B Executive Master of Business Administration Submitted To: Mr. Mohammad Rakib Uddin Bhuiyan Assistant Professor Department of International Business Faculty of Business Studies EXECUTIVE SUMMARY A company’s financial reporting amalgamates important documents to create an effective spreadsheet to simplify the financial data of an organization. It captures much of the information that organizations prepare, publish, and use. Financial reporting plays an integral role in the capital markets and economic stability and growth, and efforts to enhance its quality are vital. A Sound Financial Reporting provides us relevant, meaningful, reliable, accurate and comprehensive reporting of management stewardship whether in the form of numbers or other operating data. It is increasingly important for businesses to be financially transparent and for governments to establish a sound regulatory environment for corporate financial reporting. Sound financial reporting can benefit business by some ways just like valuing business, easy to identify...
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...Administration does not necessarily constitute an endorsement of the views and opinions of the authors or the products and services of the companies with which they are affiliated. All of SBA's programs and services are extended to the public on a nondiscriminatory basis. ______________________________________________________________________________ TABLE OF CONTENTS INTRODUCTION 1 COVER SHEET 1 STATEMENT OF PURPOSE (MISSION STATEMENT) THE BUSINESS Legal Structure 2 Description of the Business 2 Products or Services 3 Location 3 Management 3 Personnel 3 Methods of Record Keeping 3 Insurance 4 Security 4 Summary 5 MARKETING Target Market 5 Competition 5 2 Methods of Distribution 5 Advertising 7 Pricing 7 Product Design 7 Timing of Market Entry Location 8 Industry Trends 8 7 FINANCIAL DOCUMENTS Summary of Financial Needs 8 Sources and Uses of Funds Statement Cash Flow Statement (Budget) 9 Three-year Income Projection 10 Break-even Analysis Graph 15 Actual Performance Statements 16 Balance Sheet 16 Summary 21 SUPPORTING DOCUMENTS Personal Resumes 22 Personal Financial Statement 22 Credit Reports 22 Copies of Leases 22 Letters of Reference 22 Contracts 22 Legal Documents 23 Miscellaneous Documents 23 9 PUTTING YOUR BUSINESS PLAN TOGETHER KEEPING YOUR BUSINESS PLAN CURRENT Making...
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...corner store offers on a daily, weekly or bi weekly basis. Corner stores provide quick checkout times, extended hours of business and very convenient locations. Convenient stores are considered mature industry and it is one of the powerful growing retail stores in United States of America. To serve the customers and give them a great customer service with convenient merchandise and product and also generate greater revenue is the main focus of EZ convenient store. EZ LLC convenient store recognized a need for a store in the area after a community need. I conducted a resident’s survey asking about the need for a convenient store and the idea was overwhelmingly supported by the community. There are no such stores within two mile radius and the target market includes local resident both on and off reserve. EZ convenient store is looking for LLC members who have extensive retail experience in both grocery and sundry sales and have identified primary categories of product in this area includes lotto, dairy products, ATM, tobacco/cigarettes and food products. EZ Convenience store will strive to provide superior customer service and the highest quality groceries at an affordable price, while operating as a profit and growth oriented business. Within next 12 months the company intends to expand into larger facilities with a wider product offering and...
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...accounting as, “The process of measuring, interpreting, and communicating financial information to enable people inside and outside the firm to make informed decisions.” Merriam-Webster defines forensic as, “suitable for a court of law.” Our textbook defines forensic accounting as, “Forensic accounting is accounting performed in preparation for legal review.” The textbook also describes it as, "focus on uncovering potential fraud in a variety of organizations.” The Business Dictionary defines it as a, “Criminal investigation practice whereby investigators analyze financial documents and activities to determine if and how a crime, such as fraud, has been committed by an organization. Tactics include tax analysis, financial reporting review and banking activity oversight.” This also includes white collar crimes such as embezzlement, stock market manipulation and price fixing schemes. This can include the financial impact of marketplace events, such as intellectual property infringement, anti-trust actions, financial reporting fraud, asset impairment and business valuation (Neumann, O'Connor, 2008). It also includes matters of family law, such as matrimonial disputes. In short, "Forensic accounting is the use of accounting, auditing, and investigative skills to assist in legal matters.” They use accounting skills following the GAAP (generally accepted accounting principles) guidelines to investigate financial crimes for lawyers, businesses and law enforcement agencies. There are...
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...continue working in the company, she might face legal liability in future. It is because she is the person who signs the commitment letter. (c) If she resigns immediately, it might affect her future career, other company will loss confident to hire her even banned. Besides that, she had signed some previous financial statement, if that found by the relevant parties, she is liable to face the legal responsibility. (d) Yes. She can refer to the MASB standard 9- Revenue, under the section 15 “sale of goods- revenue from the sale of goods should be recognized when the enterprise has transferred to the buyer the significant risks and rewards of ownership of the goods”. http://www.masb.org.my/images/stories/archive/PERS/!masb9.pdf In this case, the company recorded the revenue from sale transaction which did not occur, so she should remind the company. Question 2 Since she is the person who signs the commitment letter, she is liable to make sure the account is prepared as fair presentation and compliance. As a professional accountant she required to be professional competence, integrity, and objectivity. Presenting a free error and trustworthiness financial statement is considered as the primary responsibility of an accountant. According to the above requirements of an accountant, the caller...
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...How can the financial performance of privately owned business be monitored? What are the main ways of monitoring to ensure the sound financial performance of an organization? Make use of examples to illustrate your arguments and answers. Name: XIE Yang (Jasmine) Tutor’s name: Diane Marsh Date: 16/09/2013 Word count: 1403 Introduction A primary responsibility of any business is to understand the financial situation. With this understanding, the company can run accordingly with management. Shen Yuchu (2005) illustrates that it is significant for the privately-owned firms to understand whether profit status influences performance. “Financial performance is measured by the entity’s ability to generate profit after tax, the accumulated change in retained profits and the entity’s ability to generate positive operating cash flows. These metrics were selected as they are standard techniques employed in the private sector when evaluating the performance of firms” (Aulich. C & Hughes. M, 2013). Financial performance with different ownership may be overseen in different aspects, so privately owned companies should be monitored from a specific perspective. This paper will examine the sound measures to monitor the financial performance in privately owned business. Firstly, some financial measures will be introduced to monitor the performance from the privately-owned nonprofit entities, presenting by a health center in the USA. Next to this, Melbourne...
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...1)Business Description and Vision This section should include: Mission statement (business purpose). Company vision (statement about company growth). Business goals and objectives. Brief history of the business. List of key company principals. After reviewing this section the reader should know: Who the business is and what it stands for. Your perception of the company’s growth & potential. Specific goals and objectives of the business. Background information about the company. 2)Definition of the Market This section should: Describe your business industry and outlook. Define the critical needs of your perceived or existing market. Identify your target market. Provide a general profile of your targeted clients. Describe what share of the market you currently have and/or anticipate. After reviewing this section the reader should know: Basic information about the industry you operate in and the customer needs you are fulfilling. The scope and share of your business market, as well as who your target customers are. 3)Description of Products and Services This section should: Specifically describe all of your products and services. Explain how your products and services are competitive. If applicable, reference a picture or brochure of your products, which would be included in the plan’s appendix. After reviewing this section the reader should know: Why you are in business. What your products and services...
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