Galvor Company

Operations is separate from the accounting department. The employees in operations handle promoting the products. Also, Operations is in charge of making the products. The company’s accounting system is handled in-house by the cashier and the bookkeeper and by the accounting firm hired to handle the businesses’ financial reporting. The cashier handles all sales through the register. The register is balanced against the drawer each night by the bookkeeper and a deposit made the same day. The bookkeeper gives the accountant the drawer receipts and bank receipts for journal entries and later reports. The accountant checks all cash received and payments made against bank statements and collected paperwork. There is not a single person assigned to do all duties.

It is not obvious that the plan includes a detailed staffing requirement that includes defining the capabilities and staffing levels that will be needed in each job category to implement the business plan. The focus should be on 5-10 critical capabilities and then out of those what capabilities are different from job to job or level to level. The other critical factor will be those capabilities that are

Conclusion: As such, the MCS should have been initially detailed using this reverse order for consistent presentation as well as acting as a catalyst to the planning subsystem of the core control system. In doing so, goals can be set in accordance to the company culture and structure. This enables management to influence the behaviour of more employees by providing clear goals. This makes for a better feedback system because it includes the information of the various departments/divisions and all levels of employment. This allows for attainable goals and prevents the imposition of unrealistic goals, MBO, and the likelihood of fraudulent reporting. To further prevent fraudulent reporting, the measurement subsystem should rely equally on the accounting system as well as non-financial measures (balanced score card).

Resources will be allocated to all functional units in the business according to their needs. Functional units will be required to prepare annual

|Nongraded Activities and|Watch the Financial Reporting for Business: Introduction to Accounting Reports and |Day 6 | |

Bimonthly status reports will be submitted to the CEO/President including activities, accomplishment of milestones, upcoming plans, obstacles, costs, and hours expended. The bi-monthly status report will also include a breakdown of timeliness and costs related to the proposed schedule, and any schedule or cost corrections remaining within the agreed timeframe and budget.

Arnold and Kunzler will meet on August 4 to search for an agreement about the wage

2) Introduction of computerization into the planning and budgeting process and introduction of “e-disclosure” to employees.

Another aspect relevant to the information technology is the system-generated data and reports. If auditors choose a control that uses some information generated from the company’s internal IT system, the effectiveness of the control requires obtaining audit evidence of the accuracy and completeness of the internal information. In the ZOU’s case, when testing of the controls over risk #2, auditors use reports, which are automatically generated by the Warehouse K system. Auditors decide to further test the controls over accuracy and completeness. When testing the controls over risk #3, both monthly reporting package and budget information are somewhat generated internally by ZOU’s internal system. Depending on different systems, auditors decide to further test controls for accuracy and completeness with respect to the monthly reporting package, which is generated from PeopleSoft.

The next lever, the management control process, consists of four sections. The first of these is programming, which must come from strategy and be monitored to remain consistent with the firm’s objectives. The second process is budgeting, which need to fit with strategy formulation and programming. The last two of the four sections is measuring and reporting. These two sections focus on the “need for activities that measure and report both financial and nonfinancial information” . The measuring and reporting of a firm’s management control can be related to budget information and the motivation process. What a firm spends to drive motivation, and the amount of motivation that comes from it, can create contrasting cultures that needs information to why that is the result. Since this lever can be manipulated quickly, it is one that managers should focus on.

Grommet Industries is facing some very tough business decisions to stabilize the company and restructure to stimulate growth. The HR issues that I am now asked to address in our meeting with Mr. Ramon include identifying the issues we are facing, the options we have to work with, and strategies to use for implementation.

Managerial Accounting reports are primarily used by supervisors, line managers, process owners, as well as executives, to gain a better understanding of the current financial and operational health of the organization. (Internal)

Sales reports - last periods figures Outgoings such as purchases, marketing, loan repayments, etc Staff costs Capital such as stock on hand and cash

The Gril-Kleen Corporation are efforts to market its innovative product and the product is a liquid restaurant grill cleaner had been extremely successful. The product is a chemical solution which could be applied directly to a working grill and would clean off bumt-on food and accumulated grease in a matter of minutes. It appeared to have several major advantages over competing product.

Assuming a person was a busy senior manager, and oversees several grassroots managers. There is one manager per management team, members are required to submit one business report to the senior manager every quarter. These reports lists the profit, the cost, the efficiency of revenue and the recommendations for next quarter. Unfortunately, these reports are significantly different and may require extra time to review each of reports from the management teams. These reports will also be difficult for readers to find the specific information because some managers may have to put the data and statistics in the front of the report. While the others may put the data and statistics at the end of the report. Therefore, the standard business report formats is important for the author to write a terrific report.