CASE 9: Horniman Horticulture
1. Assess the strengths and weaknesses of the company Horniman Horticulture.
- Horniman Horticulture has a variety of strengths and weaknesses, among them are a mix of quantitative numbers to support the performance as well as qualitative factors to support the performance. We should address the management to start with and their business philosophies. One of the co-owners Bob Brown has a very strong work ethic, which he has achieved through his fathers personal career path to become a foreman of a lumber mill in Southwest Virginia. Bob followed his father’s footsteps and was made supervisor at the lumber mill after his educational side was achieved, among working as a supervisor he was highly
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From these cash outflows, it is possible to say that Horniman business had been improved from 2002 to 2005.
3. What do you expect the financial position of the business to be in 2006? | | | | | | HORNIMAN HORTICULTURE | | | | | | | | | | | | Projected Horniman Horticulture Financial Summary (in thousands of dollars) | | | | | | | | | 2004 | 2005 | 2006 | Profit and loss statement | | | | Revenue | 908.2 | 1048.8 | 1311.0 | Cost of goods sold | 437.7 | 503.4 | 629.3 | Gross profit | 470.5 | 545.4 | 681.8 | SG&A expense | 356.0 | 404.5 | 505.6 | Depreciation | 36.3 | 40.9 | 46.0 | Operating profit | 78.2 | 100.0 | 130.1 | Taxes | 26.2 | 39.2 | 51.0 | Net profit | 52.0 | 60.8 | 79.1 | | | | | Balance sheet | | | | Cash | 66.8 | 9.4 | -134.5 | Accounts receivable | 119.5 | 146.4 | 182.8 | Inventory | 523.4 | 656.9 | 821.1 | Other current assets | 22.6 | 20.9 | 26.1 | Current assets | 732.3 | 833.6 | 895.6 | Net fixed assets | 384.3 | 347.9 | 376.9 | Total assets | 1116.6 | 1181.5 | 1272.5 | | | | | Accounts payable | 4.5 | 5.0 | 6.3 | Wages payable | 22.1 | 24.4 | 30.5 | Other payables | 16.6 | 17.9 | 22.4 | Current liabilities | 43.2 | 47.3 | 59.2 | Net worth | 1073.4 | 1134.2 | 1213.3 | | | | | Capital expenditure | 88.1 | 4.5
ASC 320-10-35-33F: “Changes in the quality of the credit enhancement should be considered when estimating whether a credit loss exists and the period over which the debt security is expected to recover.”
Sparkle Company is a Nigerian diamond mining company. Sparkle is a joint venture, 50 percent owned by Shine and 50 percent owned by Brighten. Both Shine and Brighten are U.S.-based companies with their functional currency being the American dollar. Sparkle Companies functional currency is that of Nigeria, being the Naira. During 2009, Sparkle had several transactions with its joint venture owners and outside parties. The details of Sparkle’s transactions are three loans, three expenditures, and one revenue stream. The loans the company took out were $1 million from Brighten, $1 million from Shine, and 300 million Naira from a local Nigerian bank. The expenditures
2. For each of the following scenarios, on the basis of the specific facts and circumstances,
IgG – funtions in neutralizing, opsonation, compliment activation, antibody dependent cell-mediated cytocity, neonatal immunity, and feedback inhibition of B-cells and found in the blood.
This case is talking about an executive retreat. It was introduced by John Matthews who was a executive had been selected to attend the two-and-a-half-week retreat. The retreat was more like a competition about academic and athletic. The team members should not only get know each other and cooperate with teammates but also need to compete with others. The whole participants were broken into five groups and their aim was to win the competition. There are several sessions about academic and athletic that the participants should complete. After the introduction part the case showed the experience of John. Before the group meeting John was wondering and worried about this retreat. When he was taking the first group meeting, he tried to learn
* Our company’s sales forecast has been based on performance from previous years along with market circumstances. We are looking at the future of the business objectively which we then can evaluate past to
The court deciphering between criminal negligence and recklessness. Criminal negligence being a person failing to perceive a substantial and unjustifiable risk that the result will occur or that the circumstance exists. The risk must be of such nature and degree that the failure to perceive it constitutes a gross deviation from the standard of care that a reasonable person would observe in the situation.
Shakespeare Inc., a private publishing company issued its F/S on March 20, 2012. There were several accruals and events that the management of Shakespeare is considering to determine if they should be recognized or disclosed in Dec 31, 2011 F/S. In my opinion, the important things to focus on subsequent events are the period they effect and if their influence is material or not, so that in conclusion, the F/S are fairly presented.
On a snowy January evening, the Midwestern Medical Group (MMG) management team held a retirement party for Judith Olsen, MMG president. During the evening, Olsen reflected back on the years she had worked for MMG with mixed feelings about her experience. Over the course of their eight-year integration
The following information is provided for adjustments prior to closing the books. Lopez and Knepp ask you to enter the adjustments into the spreadsheet, in the two columns to the right of the unadjusted trial balance. (CM2 uses a perpetual inventory system.)
The United States Court of appeals ruled that the suppressed evidence is purely impeaching evidence and no defense request has been made, the suppressed evidence is material only if its introduction probably would have resulted in acquittal. Given a minor role of Phillips' testimony and the limited impact that Phelps statement had on the jury's assessment of Phillips credibility, Maddox could not demonstrate that so the evidence probably would have resulted in an acquittal. Also, the evidence was immaterial under United States V.Blasco; the defendant filed a joint motion to suppress all physical evidence gathered by the officers and any statements made by the defendant. The magistrate found that the defendant did not have to raise a fourth amendment challenge and its suppression did not violate his (Maddox’s) due process right. For ongoing reasons, the district court's dismissal of Maddox's habeas petition was affirmed.
The applicants are morally correct as long as their action promotes their long term interest. If their action produces or will produce for them a greater outcome of good, versus evil in the long hall than any other alternative, than that action is the right one to act on, and the individual should take that to be a moral act. An Assessment of Morality by Ethicsinbusiness.net
b.What are the amounts and timing of the acquisition investment’s free cash flow from 2013 through 2022?
Question #1: How would Sheryl Sandberg’s leadership style be described based on the four behavioral leadership styles?
As mentioned in the introduction of the mini case, Hobby Horse Company, Inc. (HH) experienced a tough year in 2011. HH opened up a number of new stores but experienced a poor Christmas season. Christmas season is the biggest sale period for retail stores. As a result, bad Christmas sales performance played a big part of HH’s loss for year 2011. As we computed the financial ratios for HH, we can see the effects from new stores openings and poor sales performance.