7. Identify three areas of service provided by public accountants. What is the most common professional certification held by public accountants? What are the general requirements for attaining the certification. 8. What are the common duties performed by private accountants. What two types of professional certifications,
Chavez Digital Machining's performance for the first 11 months of the year has been a surprise with sales and profits somewhat above expectations. On december 20, just prior to the holiday break, Patrick Olmec faced the decision of scrapping some old equipment and replacing it. The old equipment had a book value of $400,000 but
Review the The Big Fix at Toyota Motor Sales (TMS) case studies (attached). Respond to the questions here. In your responses be sure to focus on the organizational culture issues and opportunities. 1. Describe the advantages of TMS's new decentralized IS structure. What are the disadvantages? 2. What problems was Coope
Is the key to developing an effective sales force selection or training?
No trip to St. Louis is complete without seeing the Cardinals play and a post-game trip to Ted Drewes Frozen Custard. Ted believes the tie between Redbird fans and his frozen custard to be hopelessly inextricable; hence, he believes sales are higher during home games than road games. Ted's employees believe that the weather has
Describe the differences between the top down and the bottom up sales forecast methods. Describe advantages and disadvantages of each. Do you think one approach is likely to be more accurate than the other? Explain.
Dobbs Wholesale Antiques makes all sales under terms of FOB shipping point. The company usually ships inventory to customers approximately one week after receiving the order. For orders received late in December, Kathy Dobbs, the owner, decides when to ship the goods. If profits are already at an acceptable level, Dobbs delays s
Pretend that this restaurant Subway at a shopping mall is an indoor location has been open for 12 months and that business is slow and stockholders are putting pressure on us to do better. Take the position that your business has been in place for a year. Although the business originally started out well, sales have slumped over
(a) Break-even analysis is of limited use to management because a company cannot survive by just breaking even. Do you agree? Explain. (b) Total fixed costs are $22,000 for Forrest Inc. It has a contribution margin per unit of $15, and a contribution margin ratio of 25%. Compute the break-even sales in dollars.
Is the key to developing an effective sales force selection or training? Explain your choice.
Madlem, Inc, produces and sells a single product whose selling price is $240.00 per unit and whose variable expense is $86.40 per unit. The company's fixed expense is $720,384 per month. Required: Determine the monthly break-even in either unit or total dollar sales. Show all work.
Why is attitude so crucial to the success of a sales team? How do you measure an employee's attitude? How do you improve it? How do you know if you have been successful?
The Sunrise Hotel has 200 rooms. Each room rents at $110 per night and variable costs total $16 per room per night of occupancy. Fixed costs total $84,000 per month. If the hotel spends an additional $10,000 in the month of February on advertising they feel that they can expect occupancy rate to increase by 5%. What would be
Patton Company purchased $400,000 of 10% bonds of Scott Co. on January 1, 2011, paying $376,100. The bonds mature January 1, 2021; interest is payable each July 1 and January 1. The discount of $23,900 provides an effective yield of 11%. Patton Company uses the effective-interest method and plands to hold these bonds to maturity
You have to sell an iPad to a business. This is a business-to-business deal. Layout the sales process and how you will go for it and prepare for the anticipated objections as well.
If a college is constrained by lack of available space for more dormitories, how can a college grow their revenue? The college currently has undergraduate programs where they offer students residents and graduate and specialized doctoral programs without residents.
While preparing a sales presentation to sell to a friend, how much pressure would you apply for the order? Is selling to a friend easier or harder? What is your opinion? Is applying pressure an important part of the role of the sales professional?
Which of the following types of organisations do you expect to have high or low sale margins? Why? 1) a supermarket 2) a pharmaceutical company 3) retailer of musical instruments 4) a software company
Assume a firm has total assets of $15,580,000, current liabilities of $4,261,000, long term debt of $3,638,000, and net worth of $7,681,000. Also, assume the firm has net sales of $12,250,000, net profit of $692,000, and dividends of $429,000. Further assume that management expects sales to increase by $2.75 million during the
1.) Explain why a company such as Microsoft would set aside some software sales revenues as "unearned"? 2.) How would you determine how much sales revenue to set aside each quarter? Is this number easy to calculate? 3.) Suppose the unearned revenue account is reduced by $100 million. Where do these dollars go? (The unear
Given the following: sells terms are 3/10, net 30, and total sales for the year is $912,500, and 40% of customers pay on the 10th and the other 60% paid 40 days after purchase. What is the days sales outstanding? What is the average amount of receivables? And what would happen if the non-discount customers (60%) paid on the 30th
Here is what I would like to have as your scenario. Often times in the chemical industry, pails are used to contain the product. These are typically plastic pails and metal pails. The scenario is this; you have been selling this account for a period of time (you are a salesman for the container company- U.S. Plastic) but sudd
Explain how it's possible for sales growth to decrease the value of a profitable company. What does free cash flow mean?
On January 6, Arneson Co. sells merchandise on account to Cortez Inc. for $9,000, terms 2/10, n/30. On January 16, Cortez Inc. pays the amount due. Prepare the entries on Arneson's books to record the sale and related collection.
Please help with the following problem regarding sales revenue. Provide step by step calculations. Experience has shown that 50% percent of the sales of Geraghty Company sales are for cash. Monthly sales are budgeted as follows: $280,000 for October, $240,000 for November, and $320,000 for December. The rest are on credit wi
Home Depot was one major company in the building supplies industry that was adversely affected by the slowdown in the housing market. On August 14, 2007, it announced that its revenues for the first half of the year were 3 percent lower than revenues were for the first six months of 2006. Of even greater concern was the fact tha
Assume you are starting a new company and need to decide your sales mix. Widget A has a large start up cost (fixed) and with a moderate margin. Widget A is the latest and greatest product, has a high demand, but will not be in demand for more than 1 year. Widget B has a low start up cost, with a low margin. Widget B has a low de
Class discussion: Chapter 1 Video - BP Connect. Students will respond to the following: o Discuss BP Connect's revenue stream prior to and after the introduction of BP Connect. o Identify the needs that BP Connect is meeting for the customer? o Discuss why BP changed its product offering? o Location is an important v
See attached file. Case Facts: 1. Sonoma Beverage Co. is a beverage company located in Napa Valley. Sonoma Beverage Co. began its operations in 2003. 2. Sonoma Beverage Co.'s only product is a non-alcoholic fizzy "Napa Chardonnay" drink. 3. Sonoma Beverage Co. sells its product to specialty grocery stores. 4. Sonoma Beve
Jim's department at a local department store has tracked the sales of a product over the last ten weeks. Forecast demand using exponential smoothing with an alpha of 0.2, and an initial forecast of 28.0. Calculate MAD . What do you recommend from the MAD results? Period Demand 1 24 2 23 3 26 4 36 5 26 6 30 7 32 8