In recent times, there have been accounting scandals that have stunned the finance and accounting realm, and thereby reemphasized the significance of maintaining proper accounting practices. The recent accounting scandal of Olympus Corporation, a Japanese manufacturing company for cameras and endoscopes is selected for this study. The company's scandal encompassed a 13-year period of accounting irregularities totaling almost $1.7 billion (Infinit Accounting, 2014).
Audit Report Issued by CPA Firm
When Michael C. Woodford was appointed as president and Chief Executive Officer (CEO) of Olympus Corporation, he endeavored to make certain that the financial statements of the company were accurate and reliable. It… Continue Reading...
Provide a SWOT Analysis detailing the external threats and opportunities and the internal strengths and weaknesses.
Strengths:
Weaknesses:
Opportunities:
Threats:
Economic Environment/Finance and Accounting/Financial Statements
Summary
Provide a detailed summary of what you observed in this particular area of the business. Look in the drawer labeled Business and the information and draw some conclusions about the economic environment of Tims Coffee Shoppe.
Action Items
Discuss the Economic environment and impact on Tims business. Use your accounting and finance knowledge to interpret the Balance Sheet and the Profit & Loss statement. Explain what Tim should do based on your understanding of the financial picture.
Problem Solving/Recommendations
Summary
Give five recommendations on what… Continue Reading...
For startup companies, the key business functions include: Sales and Marketing, HR, Finance and Accounting, and Manufacturing. Present-day startups require information systems for monitoring all their business operations, such as business planning, material acquisition, production, quality control and delivery to markets. In view of the aforementioned key business roles of startup companies, the chief information systems required are; Marketing and Sales Information Systems, Production and Manufacturing Information Systems, Accounting and Finance Information Systems, Strategic Information Systems, Enterprise Collaboration or Office Automation Systems and HR Information Systems (Al-Mamary, Shamsuddin & Aziati, 2014).
Functions of Information Systems
Sales and Marketing Information Systems
Marketing and… Continue Reading...
(Lee, Tongzon and Kim, 2012). Virtually every organizational process today involves computerization -- from human resource processes and payroll management to customer relationship management, procurement, sales and marketing, forecasting, finance and accounting, and operations management. Digitalization is enabled by pervasive computing (e.g., cyber systems and the internet of things), delivery models (e.g., cloud computing), data analytics, social media, and mobile computing (Heilig, Schwarze and Vob, 2017). These IT systems transform processes, information flows, and people by facilitating the collection, processing, management, retrieval, and distribution of data.
The digitalization of processes is essential for enhancing the customer experience, which consequently increases customer satisfaction (Deloitte, 2013). Though there is no universally accepted definition, customer satisfaction essentially means the extent to which… Continue Reading...