In a 1-2 page paper, please complete the following:
- Review the financial statements from the manufacturing company you chose in week one.
- Discuss the importance of each type of budget (master, sales, production, direct materials, manufacturing overhead, sales and administrative).
- Give 1-2 examples describing how each budget can assist the company in improving profitability for future periods.
- Be sure that the paper has no spelling or grammatical errors.
- APA format
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- A corporation in the United States is about to expand its business globally. As part of this expansion, it will begin to sell its products in Europe and Asia. In addition, it plans to open a manufacturing plant in Asia. The president and chief executive officer (CEO) is concerned; he has heard many stories of companies that have tried to expand globally, but operations either failed miserably or did not live up to expectations because of the cultural differences. The CEO has asked your group to research problems that other corporations have had with the process of expanding globally and develop a plan to avoid these types of intercultural errors and missteps. As a group, you will select a multinational corporation or international nonprofit agency that has encountered these problems (this can be a previous or current employer of yours). Using the Internet and the library, each individual in the group will research the corporation or organization to discover any cultural barriers that the corporation or organization encountered as it attempted to expand globally. Need 5 different references… this is important You can either do it on McDonalds or Coca-Cola.
- A corporation in the United States is about to expand its business globally: MaDonalds or Coca Cola
- Creating an effective strategic management plan relies heavily on analysis of both your existing company and factors in the business environment that impact decision making (Coca cola).
- To make sure you are up to date on the special guidelines the GASB has declared, your manager asked you to research GASB Statement No. 56. He also asked you to show him, side by side, how government accounting journal entries might differ from for-profit journal entries in these similar events. Write 500–750 words that addresses the following: When was GASB Statement No. 56 initiated? In your own words, what is the essence of the new ruling? Why did the GASB probably deem it as being necessary? How might GASB Statement No. 56 change the activities of any accountant performing governmental accounting? Create journal entries for all of the following situations. On 10/1/2010, a for-profit Company A provides $100,000 of service to Company B. Company B plans to pay their bill 90 days later. Create the journal entry when the service is provided. Create the journal entry when the cash is received. On 12/1/2010, the city's recreation department receives a government grant of $100,000 specifically to use for next year's park upgrades, which will begin on 1/1/2011. Create the journal entry made when the cash is received. Create the journal entry to be made on 1/1/2011. A for-profit retail store buys $200,000 of inventory on 9/1/2010. Create the proper journal entry to show purchase of this inventory. A local city park buys $200,000 of food merchandise for later resale. It uses the purchase method to account for inventory. Create the proper journal entry for when this purchase is made. A nonprofit organization receives a $250,000 donation on 12/1/2011, but the donor specifically wants it spent in 2012. Create the journal entry or entries to show the proper recording of revenue (this may require more than on journal entry). Create the subsequent journal entry to show spending of the funds.
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- What information might you use, besides the financial statements of an organization, when analyzing its financial health? Be specific, and identify the usefulness of the information that you identify.