Michelle B. Case Study #2 Internal Control Acct Fin: Managerial Use, Analysis October 6, 2013 Summary: The LJB Company is a local distributor located on New York’s lower east side. I was asked evaluate their system of internal controls because they are planning togo public in the near future. The president of the company wants to be aware of any new regulations required of his company if they go public, so he met with my colleague at a local restaurant. The president of the company explained
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Business /MBAA0PUHA2 June 7, 2010 Inventory Systems Summary Inventory characterizes one of an organization’s largest operating cost and the maximum prospect for improving profits. With inventory systems, organizations are able to centralize control of inventory across today’s multi-channel environment. Each team member will describe his or her inventory systems with the advantages and disadvantage of each system. Description of Each Inventory System Sage Accpac Inventory System Crossroads
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accountability. inquires when payment is made isn’t a good solution for this business. A poor repayment plan. Negative cash flow. Stanley Walsh did not use financial and operational controls—lack of clear planning d) Inventory: Inner-City Paint Corporation has no real form of inventory control. The company may run out of stock of an important item without inventory control. Paper inventory control is dysfunctional for any business as its not a good clear record of a business 2) Recommendations a) Facilities-
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If LJB decides to go public the first thing the President needs to about new internal control requirements is the Sarbanes-Oxley Act or SOX. The Sarbanes-Oxley Act is a United States federal law which sets new or enhanced standards for all U.S. public companies. The reason that this SOX bill was created was because a a number of major corporate and accounting scandals. When these scandals happened they cost investors billions in losses because the share prices fell it shook public confidence in
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falls under passive/defensive thinking. My primary thinking style, power, measures your self-worth to a degree that we can control and dominate others. Power thinkers lack confidence in others and try to establish their feelings of self-importance. Power thinkers are characterized to be aggressive and to have a rigid way of thinking. Power thinkers have a high need for control, power, prestige, and status. Power thinkers dictate the actions of others and they are threatened by undermined authority
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Implications, p. 73) Conduct a specific analysis of Yahoo’s environment, identifying each of the 4 factors listed above. 3. “Taking that analysis, managers should plan how to deal with contingencies. Designing inter-organizational strategies to control and secure access to scarce and valuable resources in the environment in which they operate is the first state in this process” (Managerial Implications, p. 73) 4. How is Resource Dependence Theory illustrated in Yahoo’s relations with its environment
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were privatised in a way that allowed the organization to function as a monopoly. In addition, another fact is that Telstra block competitors' access to the network. Both of these examples emphasize Telstra aimed at controlling others. Telstra control market by controlling competitors in order that it is a monopoly. According to William C, the classical management focus is controlling others(1992). In terms of investment, Telstra invest $300 million in upgrading network, and they want to get all
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cross-docking is more desirable by allowing more receiving and outgoing delivery doors, or a bigger floor space to handle more product movements. 6. The advantages of private warehousing are: cost is spread over more units of inventory, more control over storage needs, control over product placement within the facility, and access to product whenever the company needs. A few disadvantages are: initial cost is very high, fluctuating demand means loss of productive space, high interest rates cause more cost
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INTRODUCTION Every human been has several needs and desires. But no individual can satisfy all his wants. Therefore, people work together to meet their mutual needs which they cannot fulfill individually. Moreover, man is a social being as he likes to live together with other people. It is by working and living together in organized groups and institutions that people satisfy their economic and social needs. As a results there are several types of groups, eg..; family, school, government, army
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unnecessary subtasks to get an optimal time. Each task had to be performed in the best way and workers have no right to choose how to do their tasks (Buelens et al, 2011). Thus, through removing employees’ discretion over the work, managers were able to control over the method and pace of working, and to take the responsibility for planning each activity to ensure that every step was in line with business objectives. Moreover, based on the assumption that workers can not be trusted to perform their jobs
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