BUS 475 Week 4 Knowledge Check Assignment

I went shopping at the Mall for Christmas gifts over Thanksgiving furlough, and one store that I paid about $60 cash in the floor manger came over and verified the $50 bill using a pen. Furthermore, the store would not accept bills over $50. Additionally, another internal control I noticed was when my sister paid with her credit card at Forever 21, the bill was over $100 (girls and clothes); consequently, they asked her for her identification card.

I just wanted to pass along an update. I got with Kathy for more clarification on what needs to be changed and I am currently working on the requirements.

Select an existing production organization. Analyze the organization’s current vision, mission, business strategy, operation strategy, supply chain, total quality management, just-in-time philosophy, forecasting method, statistical technique, facility location, work design, project life cycle, and project management. Note: You will need this information in order to complete this and subsequent assignments.

1. Compared with other approaches to business, the marketing concept is distinct in that it

Complete Chapter 12 Closing Case at the end of the chapter and submit answers to your instructor.

k. What can you identify in the financial statements that provide evidence to help substantiate your explanation?

Classify each of the items as an asset, liability; revenue; or expense from the company's viewpoint. Also indicate the normal account balance of each item.

Current assets: 2011 Cash and cash equivalents Short-term investments Accounts receivable Prepaid expenses and deposits Loan receivable (note 2) Derivative financial instrument - short term Restricted cash and cash equivalents (note 3) Other assets Capital assets (note 4) $ 13,397 4,130 12,325 17,091 4,290 1,352 52,585 11,808 – 264,350 $ 2010 10,420 10,772 1,739 75,992 – 1,544 100,467 113,040

to provide a narrative explanation of the company’s financial statement that enables the investors to see the company through the eyes of management

Income statements, balance sheets, statements of cash flows, and financial statement ratios have one thing in common: they are all ways that investors, managers, and owners can look at a business from a financial standpoint and decide what they should do next. Is it time to expand the business? Should we just keep doing what we’re doing because it works? Is it time to close the doors? All of these questions and more can be answered by reviewing the aforementioned financial documents. In this paper, I will explore these documents, discover how they differ, and how important business decisions are made based on what they say.

[Total liabilities, $8,500,000, ÷ (Current assets, $320,000 + Property, Plant & Equipment, $12,000,000) = 0.6899].

Year 2006 2007 2008 2009 2010 Total Assets 1191,25,12,487 1195,34,18,940 1481,96,65,441 1989,19,33,422 2137,23,99,509 Total Liabilities 396,25,92,062 370,24,79,293 436,94,63,296 900,62,26,808 539,83,13,058 Net Profit After Tax 47,06,58,563 35,30,67,878 54,53,41,273 62,47,40,307 105,16,48,808 Cash Ratio 0.229 0.052 0.028 0.455 0.585

Assets: Gross plant and equipment ($5,000,000), inventories ($200,000), net accounts receivable ($550,000), and cash ($310,000) = $6,060,000

In order to understand the performance of a firm, the manager within the firm and the firm’s owners and lenders need to have accurate and up to date financial information. This information is contained in three financial statements: the income statement, the balance sheet and the statement of cash funds (Melicher & Norton, 2014). Each of these statements indicates a certain aspect of the financial status of the firm and reveal the critical financial elements of the business; revenues, expenses, assets, liabilities, and equity (Melicher & Norton, 2014). When combined, these financial statements should provide the overall financial status of the firm and indicate the performance of the firm (Melicher & Norton, 2014).

In the Balance Sheet, the assets, liabilities, and stockholders’ equity which are reported by companies at a specific date. They also are related in the basic accounting equation which is: Assets = Liabilities + Stockholders’ Equity. Assets are the resources that will provide future economic benefits for the companies. Assets are divided into four categories which are current assets, long-term assets, property, plant and equipment, and intangible assets. The first one is current assets are assets that a company expects to convert to cash or use up within one year.(49) It includes cash, receivables such as account receivable (less allowance for doubtful accounts) and interest receivable, inventories (inventory and supplies), prepaid expenses (insurance or rent). The companies list current assets in the order in which they expect to convert them into cash (50). The long-term assets which are generally investments in stocks and bonds of other corporations that are held for more than one year, land or buildings that a company is not currently using in its operating activities, and long-term notes receivables (50). Property, plant and equipment