Case 27 - Finance - 1395 Words

Case 27 1. For this question, ignore the forecasted receivables collection pattern in Exhibit 27.4. Using paper and pencil (do NOT use the template), calculate the projected ACP and average daily sales (ADS) under the following conditions: 30% of customers pay on the 10th day 50% of customers pay on the 30th day 20% of customers pay on the 60th day 800,000 units sold per year @ $5 per unit = $4,000,000/360 Remember, since there are no balance sheets or operating statements, you will have to MANUALLY calculate the ACP. Just look at the numbers: 30% pay after 10 days + 50% pay after 30 days + 20% pay after 60 days. What’s the average? Voila! Also, for consistency, use 360 days = one year Answer: ADS= $11,111 ACP= 33 days†¦show more content†¦For the entire half year? Answer: First 3 months- $8,333, Half year- $11,667 What is the implied average collection period for the end of March? For the end of June? Answer: End of March- 42.2 days, End of June- 28.8 days Does the ACP indicate that the firm’s customers have changed their payment behavior? Is the ACP a good management tool in this situation? If not, why not? Answer: The average collection period is definitely a good indicator of future trends of payers. In this case, the ACP illustrates that the firm’s customers have changed their payment behavior in a positive way. 6. Given the data in this worksheet, what do the aging schedules tell you about customers’ payment patterns at the end of March and June? Explain. Answer: Aging schedules definitely help a company keep track of which of its customers are paying on time, and are useful in figuring cash flow. In this case, it is apparent that the majority of accounts receivable by the end of March are less than 30 days old (80.8%). By the end of June, that percentage goes down to 63.7%. By the end of March, 19.2% of accounts receivable are between 30-60 days old, and by the end of June, there is 36.3%. 0% of accounts receivable get to be over 60 days old, which indicates payment. 7. Now, looking at the uncollected balances schedules as of the end of March and June, do these schedules properly measure customers’ paymentShow MoreRelatedThe Strong Performance Of Public Finances1198 Words   |  5 Pages The strong performance of public finances in Sweden is an interesting case.Previous studies have compared the current crisis with the banking crisis in Sweden in the early 1990s to study the reason behind Sweden’s strong public finances (Flodà ©n, 2013). When comparing the macroeconomic behavior during the current crisis and during the banking crisis in the early 1990s, it showed a larger drop in GDP and in exports while unemployment increased very less during the current crisis. 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Never Give Up a Character Analysis of Phoenix from...

Never Give Up: A Character Analysis of Phoenix from Welty’s â€Å"A Worn Path† By STUDENT NAME Professor NAME CLASS NAME DATE Outline Thesis statement: In â€Å"A Worn Path† by Eudora Welty, Phoenix Jackson displays extraordinary perseverance in the face of difficulty, which ultimately allows her to accomplish her goal. I. Personal obstacles A. Body B. Mind II. Physical obstacles A. Nature B. Society Never Give Up: A Character Analysis of Phoenix from Welty’s â€Å"A Worn Path† Although Phoenix Jackson is old, tired, dirty, and poor, nothing can stand in her way. In Eudora Welty’s â€Å"A Worn Path,† Phoenix jumps off the page as a vibrant protagonist full of surprises as she embarks on a long, arduous journey to†¦show more content†¦Welty writes, â€Å"With her hands on her knees, the old woman waited, silent, erect, and motionless, just as if she were in armor† (318; 85). However, Phoenix manages to regain her senses after a few minutes, explaining to the nurses, â€Å"It was my memory had left me. There I sat and forgot why I made my long trip† (318; 88). She continually takes her personal shortcomings in stride and has an obvious wit about her, which she uses to her advantage. When she is offered some pennies by an attendant, Phoenix instantly replies, â€Å"[f]ive pennies is a nickel† (319; 100). The quick thinking earns her some additional money and allows her to purchase a gift for her grandson. Desp ite being elderly and often forgetful, Phoenix persists in her journey with experienced fortitude. Phoenix also encounters numerous physical obstacles between her and her goal. Shortly after setting out, she becomes entangled in an obstinate bush. She fights what appears to be a losing battle. As Welty describes it, â€Å"Her fingers were busy and intent, but her skirts were full and long, so that before she could pull them free in one place they were caught in another† (315; 8). Phoenix seems to maintain a good attitude as she begins to talk to the bush: â€Å"Thorns, you doing your appointed work. Never want to let folks pass, no sir. Old eyes thought you was a pretty little green bush† (315; 8). As she does with all of her other challenges, sheShow MoreRelatedSymbolic Source In A Worn Path by Eudora Welty1287 Words   |  6 Pageson it. A Worn Path is about a long walk through the woods an old lady named Phoenix Jackson has to go through every time her grandson runs out of medicine. A long time ago her grandson swallowed lye that ruined his throat, the medicine is the only thing that relives the pain to his grandson. Throughout the woods to Natchez town Phoenix goes through so many things. 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Nurses’ comments BRead MoreSymbolic References in Eudora Weltys A Worn Path1378 Words   |  6 Pages Symbolism is used in many ways and writers use symbolism to â€Å"enhance their writing.† It can give their work â€Å"more richness and color and can make the meaning of the work deeper.† In literary work the actions of the characters, words, action, place, or event has a deeper meaning in the context of the whole story. The reader needs to look see the little things like a dove symbolizes peace, or like the red rose stands for romance. Mostly everything can have a symbolism meaning to it. For instance theRead MoreA Worn Path By Eudora Welty1707 Words   |  7 PagesFebruary 2016 A Worn Path In the Eudora Welty’s ‘‘A Worn Path’’, there is a distinct description of characters that live in the era of segregation and the great depression. Because Welty is a native of the south, this story is based from the experiences during her life. Her struggles are relived in the characters of not just â€Å"A Worn Path† but also a lot of her other stories. She uses hidden messages in her stories and includes deep meaning in the simplest of characters and instances. Welty’s use of theRead MoreEssay on Symbolic Citations in a Worn Path by Eudora Welty1743 Words   |  7 Pagesshort story ‘a worn path’ by Eudora Welty she uses symbolism to describe many of the characters and objects that are given in the short story. Symbolism is to use symbols to represent ideas and qualities. In ‘a worn path’ Eudora does so she uses manifolds of characters and objects to express the way the story is being told in her own way. As doing so she helps the reader understand it more sufficiently and to show that what is going on is still happening today. 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No part of this work covered by the copyright hereon may be reproduced or used in any form or by any means graphic, electronic, or mechanical, including photocopying, recording, taping, Web distribution or information storageRead MoreEudora Welty a Worn Path12173 Words   |  49 PagesA Worn Path by Eudora Welty Copyright Notice  ©1998−2002;  ©2002 by Gale. Gale is an imprint of The Gale Group, Inc., a division of Thomson Learning, Inc. Gale and Design ® and Thomson Learning are trademarks used herein under license.  ©2007 eNotes.com LLC ALL RIGHTS RESERVED. No part of this work covered by the copyright hereon may be reproduced or used in any form or by any means graphic, electronic, or mechanical, including photocopying, recording, taping, Web distribution or information storageRead MoreSymbolism in A Worn Path by Eudora Welty1818 Words   |  8 Pageseach character feels in additional it can make a person or even an objects stand out a whole lot more. In Eudora Welty they used symbolism in many different ways that you can even notice them right away. In Eudora Welty ‘A Worn Path’ is a short story where symbols are found everywhere throughout many places where you read. This short story is about an old woman named Phoenix Jackson whom was a black African American that was compared to a mythical Arabian bird, and actually that bird lived up toRead MoreComparing Frosts The Road Not Taken and Weltys A Worn Road2126 Words   |  9 PagesFrosts The Road Not Taken and Weltys A Worn Road Introduction Frosts The Road Not Taken and Weltys A Worn Road are two of the most common additions in anthologies of American literature. They both depict quintessential aspects of American life, though in different regions. Moreover, they depict American life in colloquial American language with uniquely American characters. Both works depict the journey of lone travelers on rural forest roads. Thesis: The forest symbolizes uncertainty

Change Management of People and Technology

Question: Discuss about the Change Management of People and Technology. Answer: Introduction The object of this paper to respond to the queries asked against the case reference provided. The case reference particularly refers to the implementation of the ERP systems in a company. The queries subject to the case study relate to the typical benefits that the company would be able to gain out of ERP implementation and the challenges which are associated with this procedure, and the solutions to challenges (Edwards and Humphries, 2005). The responses to the queries have been provided by an in-depth analysis on the case reference and through knowledge gained from studying the various aspects of ERP implementation in the businesses. Inappropriate Current Software Package The current software that IRCL is using as its primary accounting tool was developed by someone with a certified technical knowledge or skills. The software is incapable of providing accurate data and results against the input. In addition, the software is unable to process huge amount of data at a single time (Harwood, 2003). Therefore, as a growing industry the accounting tool that the IRCL is employing for accounting purposes is highly unsuitable for the organization. Investigating an ERP System It is well established that implementation of an ERP based accounting system provides multifaceted benefits to the organization. In the case of IRCL it has been observed that the company lacks proper accounting and resource integration tool therefore in such a circumstance the company would be able to gain benefits out of ERP implementation due to the following reasons: Gain Quantifiable benefits out of an ERP implementation. Observation on the effect of ERP frameworks on organizational performance shows that organization size and industry do not influence the outcomes. This segment clarifies the quantifiable advantages regarding a few section of change (Murdick and Ross, 2007). Typical benefits out of this include: Reduction of material cost. Reduction of labor cost. Reducing the inventory size. Improvement of customer services. Enhanced accounting management. Intangible effects of ERPimplementation The intangible or non-budgetary advantages of an integrated organizational resource planning (ERP) framework can be seen from a few points of view. Overheads of implementing an ERP system Organizational resource planning with ERP usage expenses can be isolated into one-time costs and continuous yearly expenses (O'Brien, 2011). Both sorts of expenses can be portioned into software, hardware, inter personnel and external assistance. Replacing or re-implementing an ERP system An assessment on the investment concentrating on big business resource planning (ERP) benefits as often as possible applies to those organizations at first advocating an ERP usage. Recommendations Whether to Proceed with the Project It has been already stated in the case study that the said project is constrained by not only time but also the monetary constraint is another critical issue that jenny has to keep in her mind. The project that is required to be undertaken in this regard will most certainly pose to be a challenge. This is due to the reason that the limited amount of time which has been allotted by the contractor will require additional the engagement of additional specialists. This is evidently proven that in order to accomplish an objective within a short duration of time an additional amount of employees are required (Pelphrey, n.d.). This additional amount of employees would further require additional amount of monetary expenses. In this regard Jenny has two options in her hand to complete the project without going for any further expenditure in regards to money or time. First and foremost the most viable option is to look for and hire cheap source of human resources who would be able to carry out the operations at low costs. This would on one hand accomplish the project without any extravagant cost requirement from Jennys end. However, this would result in poor performance and low end outcome of the entire endeavor (Rainer, Turban and Potter, 2007). Secondly, the most probable alternative is to engage the existing workforce in an overtime schedule. This would result in an optimum performance and overall good outcome. In addition, this would be accomplished within the stipulated monetary budget. Recommendations for using traditional systems development for developing ERP System Prior to moving forward to installing an ERP system in the information system framework of the Jenny has to decide upon the type of ERP life cycle system she would be installing. This is a crucial decision on Jennys behalf as the contractor has already stipulated a limited amount of monetary budget and time duration for the completion of the project. Therefore, in such a situation it will not be possible for Jenny to develop and install an intricate system. In addition, intricate systems would require additional expenditure on the companys behalf in the near future so; it is beneficial to both Jenny and the company that a traditional ERP systems life cycle model is installed (Salimi, 2005). Traditional ERP systems life cycle model includes the meticulous inclusion of definition of the project, study of the system, then design, subsequent to design is programming, thereafter installation and lastly post-implementation stages. This traditional life cycle of the ERP systems does not inv olve intricate level of ERP education in order to make the systems function appropriately. This would be rather benefitting to the company as it is apparently observed in the case study that the executives in the company along with the owner of the company are unfamiliar with ERP systems and its implementation in the accounting and inventory management of the company. As a consequence the other intricate life cycle methods of ERP systems would be difficult for the individuals associated with the company to appropriately comprehend and employ it in order to gain further benefits out of it (Sayood, 2006). Therefore, the condition of the organization and the state of its operations are evidently illustrate that the company would be more comfortable if Jenny would implement a traditional ERP systems life cycle which would comprise of a decision making process, an implementation process, stabilization process, and lastly process regarding utilization of the implementation process. Throug h this traditional life cycle method the company would be able to gain the most of the new ERP installation in their companys information systems and make the most out of it. Recommendations on outsourcing methodology to develop an ERP Louiss company is at present using unconventional and crudely developed software for the purpose of accounting and inventory management. The results of which are fluctuating, inaccurate and low capacity of processing in terms of huge data processing. The executives in the company are not very much aware of ERP implementation and the methodical use of ERP systems. In such a circumstance it is always advised that Louis makes use of the outsourcing methodology of the ERP implementation in the companys information systems framework. This would benefit Louis in the following ways (Sheldon, 2005). First and foremost benefit that Louis would be able to gain from this endeavor is that by using outsourcing methodology he would able to employ a team specialist, who are highly skilled in installation, configuration, and educating the existing staff in the ways the system should be maintained and the data should be processed. This would save him from extra expenditure which he would have required to provide to the executive employed for educating the employees in the functionality and operations of ERP systems. Secondly, using an outsourcing methodology would enable Louis to get the job done professionally and any sort of dysfunction in the system would make that team of professionals liable, which in turn would require the team to perform a reinstallation of the software and without any additional (Shields, 2011). In case of hiring a team of professionals highly skilled in installation and implementation of ERP systems chance of malfunctioning of the system is less. In addition, this would further assist the company in getting the job done within a short amount of time as described in the job contract offered to and accepted by the outsourced group. Conclusion Its a well known fact that ERP implementations require a perplexing demonstration of aptitudes and capabilities with the end goal that would be highly effective (Whiteley, n.d.). Companies setting out on ERP implementations are unable to amass venture groups that have an assortment of aptitudes, including a dream for how the business can advance later on, profound task administration and ERP usage experience, business process reengineering and authoritative change administration abilities, and a large group of other expertise sets that can are troublesome for most any association to grow inside. References Edwards, H. and Humphries, L. (2005).Change management of people technology in an ERP implementation. Hershey, PA: Idea Group Pub. Harwood, S. (2003).ERP. Oxford: Butterworth-Heinemann. Murdick, R. and Ross, J. (2007).Introduction to management information systems. Englewood Cliffs, N.J.: Prentice-Hall. O'Brien, J. (2011).Introduction to information systems. Boston: McGraw-Hill/Irwin. Pelphrey, M. (n.d.).Directing the ERP Implementation. Rainer, R., Turban, E. and Potter, R. (2007).Introduction to information systems. Hoboken, NJ: Wiley. Salimi, F. (2005).ERP implementation methodologies. [S.l.]: [s.n.]. Sayood, K. (2006).Introduction to data compression. Amsterdam: Elsevier. Sheldon, D. (2005).Class A ERP implementation. Boca Raton, Fla.: J. Ross Pub. Shields, M. (2011).E-business and ERP. New York: Wiley. Whiteley, D. (n.d.).An introduction to information systems.a