Free Essay

5 Case Studies

In:

Submitted By wentworthj
Words 442
Pages 2
SureCut Shears, Inc. SureCut Shears manufactures household scissors and industrial shears. The distribution for the products was through wholesalers to specialty hardware and department stores. Another distribution line for the cheaper products was to large chains. In this industry the competition was intense. A lot of the competition came from companies that are overseas. Even with a lot of competition SureCut was able to show profits and sales growing steadily in every year since 1958. As a matter of policy the company produced at an even rate, accounting for the need of seasonal funds; despite the fact that, they were reporting sales and profit growth each year since 1958, and held sufficient capital to cover its permanent requirements. The short-term borrowings occurred most frequently in the period of July-December to cover the sales peak. The Hudson National Bank solicited SureCut Shears’ business due to their sizable deposit balances in its principal banks.
In June 1995, The Hudson National Bank gave SureCut Shears $3.5 million dollars and an extra $1.2 million was forecasted by June 1996. There had been several assumptions made about the company and its financial needs for the upcoming years. The company had started a modernization program and it was assumed to save $900,000 per year. The modernization program half completed and anticipated to be finished by August 1995. No funds were required in June 1995, supporting the idea that the program was on track and on budget. The company seemed to be doing well so it was easy for the Hudson National Bank to continue doing business with SureCut Shears.
In September 1995, SureCut Shears asked for an additional $500,000 for the seasonal peak, with the explanation that the modernization project had required higher expenditures. The bank gave them the extra loan. In January 1996, SureCut Shears again contacted the bank stating that they would need more financial support. The reasoning this time was due to a decline in annual sales over the prior year. It was assumed to be due to retailing downturn and the bank was assured that it wasn’t a problem effecting the industry. Finally in April, SureCut Shears told the bank that they would not be able to pay the outstanding balance of the $1.25M short-term loan before the seasonal upturn in June. The company stated that it was due to the retailing recession. The bank finally requested a meeting with the company to figure out if the company had a permanent change in the nature of their loan needs. They wanted to ultimately figure out why the company was not able to repay the loan.

Similar Documents

Premium Essay

Tanglewood Case Study 5

...Tanglewood Case Study 5 Disparate Impact Penny Ross HRM301-F1WW Jennifer Martin October 25, 2015 Tanglewood Case Study 5 Historical Hiring and Promotion Data: Applicant Flows Occupational category | | | Total | White* | Total Non-White | African-American* | Store Associates | External hires | Applicants | 18226 | 15436 | 2790 | 594 | | | Hires | 3832 | 3221 | 611 | 135 | | | Selection ratio | 21.02% | 20.87% | 21.90% 1.04 | 22.73%1.08 | | | | | | | | | | | | | | | Shift leader | External hires | Applicants | 392 | 320 | 72 | 17 |   |   | Hires | 61 | 54 | 7 | 2 |   |   | Selection ratio | 15.56% | 16.88% | 9.72% .61 | 11.76% .74 |   | Internal hires | Applicants | 864 | 712 | 152 | 30 |   |   | Hires | 280 | 241 | 39 | 6 |   |   | Selection ratio | 32.41% | 33.85% | 25.66% .80 | 20.00% .63 | | | | | | | | Department manager | External hires | Applicants | 1242 | 1074 | 168 | 44 | | | Hires | 94 | 82 | 12 | 3 | | | Selection ratio | 7.57% | 7.64% | 7.14%.89 | 6.82%.85 | | Internal hires | Applicants | 589 | 509 | 80 | 21 | | | Hires | 124 | 108 | 16 | 3 | | | Selection ratio | 21.05% | 21.22% | 20.00%.95 | 14.00%.67 | | | | | | | | Asst. store manager | External...

Words: 517 - Pages: 3

Premium Essay

Case Study 3-5

...Candace Dymally 15 September 2015 Professor Miller ACC 4321 Case Study 3-5 International versus U.S. Standards Financial information presented in financial statements require key elements that make it valuable to users to derive meaningful conclusions about the trends in an entity's financial performance and position over time. The conceptual framework categorizes these elements into fundamental or enhancing qualitative characteristics, depending on how they affect the decision usefulness of information. One of the qualitative characteristics stated is comparability. For accounting information to be comparable, accounting standards and policies must be applied consistently from one period to another and from one region to another. In this case, the financial statements of a company operating in Australia would comparable to a U.S. company’s financial statement. IASB is attempting to bridge the gap between U.S. GAAP and international accounting principles which would make it easier for companies to interact with one another despite the location. Reliability is another characteristic of financial accounting information. Information is reliable when a user can depend upon it to be materially accurate and faithfully represent the information that it claims to present. Significant misstatements or omissions in financial statements reduce the reliability of information contained in them. The amounts reported by U.S. companies for property, plant, and equipment would...

Words: 288 - Pages: 2

Free Essay

Case Study Week 5

...QUESTIONS 1. What does this case imply about the supply of and demand for employers and the implications for businesses? The case implies that there is a high demand for employees especially in the high tech industry but the supply is low and has not been met by the volume of the demand making the implications critical for businesses. These organizations are having to step out of the box and go the extra length to ensure they are able to acquire the savvy tech from an early stage. Using tools outside of the normal resume check alongside the educational background, these Companies are able to now “catch them young” by scouting for qualified candidates with needed skills, and recruiting them from colleges instead of waiting till they have completely finished their degree. For instance IBM has made use of its famous Watson computer in certain top schools giving students a chance to challenge the computer. The outcome of these approach will help IBM to narrow down which students to consider and they will work towards luring such students to consider a career at IBM (Robins 2013). As the competition is quite high in this industry, business always have to be creative in their search for talents, be on their toes and pull out all stops in trying to convince potential candidates to choose them instead of their competitors. While some are still struggling to come up with various approach to help them acquire more qualified candidate, the race is still on for the rest in trying to get...

Words: 694 - Pages: 3

Free Essay

Entr 510 Week 5 Case Study

...ENTR 510 Week 5 Case Study Purchase here http://devrycourse.com/ENTR%20510/entr-510-week-5-case-study Product Description ENTR 510 Week 5 Case Study Cadence Design Table of Contents Introduction3 Behavior of actors3 Responsibility of Avant5 Responsibility of underwriter5 Avant’s evaluation6 Corporate death penalty6 Protection measures7 References9 ENTR 510 Week 5 Case Study Purchase here http://devrycourse.com/ENTR%20510/entr-510-week-5-case-study Product Description ENTR 510 Week 5 Case Study Cadence Design Table of Contents Introduction3 Behavior of actors3 Responsibility of Avant5 Responsibility of underwriter5 Avant’s evaluation6 Corporate death penalty6 Protection measures7 References9 ENTR 510 Week 5 Case Study Purchase here http://devrycourse.com/ENTR%20510/entr-510-week-5-case-study Product Description ENTR 510 Week 5 Case Study Cadence Design Table of Contents Introduction3 Behavior of actors3 Responsibility of Avant5 Responsibility of underwriter5 Avant’s evaluation6 Corporate death penalty6 Protection measures7 References9 ENTR 510 Week 5 Case Study Purchase here http://devrycourse.com/ENTR%20510/entr-510-week-5-case-study Product Description ENTR 510 Week 5 Case Study Cadence Design Table of Contents Introduction3 Behavior of actors3 Responsibility of Avant5 Responsibility of underwriter5 Avant’s evaluation6 Corporate death penalty6 Protection measures7 References9 ...

Words: 450 - Pages: 2

Premium Essay

Mgmt 303 Week 5 Case Study

...Ronald J. Downham MGMT-303 Week 5 Case Study Prof. Mayes 29 Nov 2014 1) What does this case imply about the supply of and demand for employees and the implications for businesses? This study implies that the demand for high quality high tech employees is high and the supply of these employees is low. There are more companies that need these types of employees than there are in the job market. What this does is forces the businesses to become more competitive for good talent. Google is one of the most sought after companies because of these employee perks. Google employees are extremely well fed, getting healthy and varied breakfast, lunch, and even dinner if they stay late, for free. There are also coffee and juice bars scattered throughout the campuses. According to the Management text, “If an employee wants to come to work in cargo shorts, t-shirts, and flip-flops, they do and what attracts many talented employees to companies like these is the fact that they can set their own hours” (Management, 2014). 2) What’s the meaning behind the “search for the purple squirrel” in relation to spotting talent? Is this relevant to non-tech companies, as well? Discuss. A purple squirrel has come to mean the unobtainable. Just as a purple squirrel is almost impossible to find in the forest, the perfect job candidate is so unlikely to occur in real life that they are almost a fantasy. This doesn’t seem to be as relevant in non-tech companies though. Non-tech jobs are more abundant...

Words: 442 - Pages: 2

Free Essay

Acct 504 Week 5 Case Study 2 Internal Control Ljb Company

...ACCT 504 Week 5 Case Study 2 Internal Control LJB Company Click Link Below To Buy: http://hwcampus.com/shop/acct-504/acct-504-week-5-case-study-2-internal-control-ljb-company/ Or Visit www.hwcampus.com Case Study 2 – Internal Control- Due by Sunday of week 5 LJB Company, a local distributor, has asked your accounting firm to evaluate their system of internal controls because they are planning to go public in the future. The President wants to be aware of any new regulations required of his company if they go public so he met with a colleague of yours at a local restaurant. The President of the company explained the current system of internal controls to your colleague. Your colleague has since been promoted to a tax position so she has passed on the information below so you can generate recommendations for the partner at your accounting firm to share with the President of LJB Company. Since LJB Company is a relatively lean organization, they have a lot of faith in their long-term employees. They have one accountant who serves as Treasurer and Controller which streamlines many of their processes. In this dual role, he purchases all of the supplies and pays for these purchases. He also receives the checks and completes the monthly bank reconciliation. The accountant is so busy that the company handles petty cash a bit differently. All employees have access to the petty cash in a desk drawer and are asked to only place a note if they use any of the cash. The accountant...

Words: 941 - Pages: 4

Free Essay

Acct 504 Week 5 Case Study 2 Internal Control Ljb Company

...ACCT 504 Week 5 Case Study 2 Internal Control LJB Company Click Link Below To Buy: http://hwcampus.com/shop/acct-504/acct-504-week-5-case-study-2-internal-control-ljb-company/ Or Visit www.hwcampus.com Case Study 2 – Internal Control- Due by Sunday of week 5 LJB Company, a local distributor, has asked your accounting firm to evaluate their system of internal controls because they are planning to go public in the future. The President wants to be aware of any new regulations required of his company if they go public so he met with a colleague of yours at a local restaurant. The President of the company explained the current system of internal controls to your colleague. Your colleague has since been promoted to a tax position so she has passed on the information below so you can generate recommendations for the partner at your accounting firm to share with the President of LJB Company. Since LJB Company is a relatively lean organization, they have a lot of faith in their long-term employees. They have one accountant who serves as Treasurer and Controller which streamlines many of their processes. In this dual role, he purchases all of the supplies and pays for these purchases. He also receives the checks and completes the monthly bank reconciliation. The accountant is so busy that the company handles petty cash a bit differently. All employees have access to the petty cash in a desk drawer and are asked to only place a note if they use any of the cash. The accountant...

Words: 941 - Pages: 4

Free Essay

Acct 504 Week 5 Case Study 2 Internal Control Ljb Company

...ACCT 504 Week 5 Case Study 2 Internal Control LJB Company Click Link Below To Buy: http://hwcampus.com/shop/acct-504/acct-504-week-5-case-study-2-internal-control-ljb-company/ Or Visit www.hwcampus.com Case Study 2 – Internal Control- Due by Sunday of week 5 LJB Company, a local distributor, has asked your accounting firm to evaluate their system of internal controls because they are planning to go public in the future. The President wants to be aware of any new regulations required of his company if they go public so he met with a colleague of yours at a local restaurant. The President of the company explained the current system of internal controls to your colleague. Your colleague has since been promoted to a tax position so she has passed on the information below so you can generate recommendations for the partner at your accounting firm to share with the President of LJB Company. Since LJB Company is a relatively lean organization, they have a lot of faith in their long-term employees. They have one accountant who serves as Treasurer and Controller which streamlines many of their processes. In this dual role, he purchases all of the supplies and pays for these purchases. He also receives the checks and completes the monthly bank reconciliation. The accountant is so busy that the company handles petty cash a bit differently. All employees have access to the petty cash in a desk drawer and are asked to only place a note if they use any of the cash. The accountant...

Words: 941 - Pages: 4

Free Essay

Acct-504 Week 5 Case Study 2 Internal Control – Ljb Company

...ACCT-504 Week 5 Case Study 2 Internal Control – LJB Company Click Link Below To Buy: http://hwcampus.com/shop/acct-504/acct-504-week-5-case-study-2-internal-control-ljb-company/ Or Visit www.hwcampus.com Case Study 2 – Internal Control- Due by Sunday of week 5 LJB Company, a local distributor, has asked your accounting firm to evaluate their system of internal controls because they are planning to go public in the future. The President wants to be aware of any new regulations required of his company if they go public so he met with a colleague of yours at a local restaurant. The President of the company explained the current system of internal controls to your colleague. Your colleague has since been promoted to a tax position so she has passed on the information below so you can generate recommendations for the partner at your accounting firm to share with the President of LJB Company. Since LJB Company is a relatively lean organization, they have a lot of faith in their long-term employees. They have one accountant who serves as Treasurer and Controller which streamlines many of their processes. In this dual role, he purchases all of the supplies and pays for these purchases. He also receives the checks and completes the monthly bank reconciliation. The accountant is so busy that the company handles petty cash a bit differently. All employees have access to the petty cash in a desk drawer and are asked to only place a note if they use any of the cash. The accountant...

Words: 941 - Pages: 4

Free Essay

Acct 504 Week 5 Case Study 2 Internal Control - Ljb Company

...ACCT 504 Week 5 Case Study 2 Internal Control - LJB Company Click Link Below To Purchase or visit homework-aid.com : http://homework-aid.com/ACCT-504-Week-5-Case-Study-2-Internal-Control-LJB-Company-1804.htm?categoryId=-1 Case Study 2 - Internal Control- Due by Sunday of week 5 LJB Company, a local distributor, has asked your accounting firm to evaluate their system of internal controls because they are planning to go public in the future. The President wants to be aware of any new regulations required of his company if they go public so he met with a colleague of yours at a local restaurant. The President of the company explained the current system of internal controls to your colleague. Your colleague has since been promoted to a tax position so she has passed on the information below so you can generate recommendations for the partner at your accounting firm to share with the President of LJB Company. Since LJB Company is a relatively lean organization, they have a lot of faith in their long-term employees. They have one accountant who serves as Treasurer and Controller which streamlines many of their processes. In this dual role, he purchases all of the supplies and pays for these purchases. He also receives the checks and completes the monthly bank reconciliation. The accountant is so busy that the company handles petty cash a bit differently. All employees have access to the petty cash in a desk drawer and are asked to only place a note if they use any...

Words: 943 - Pages: 4

Free Essay

Acct 504 Week 5 Case Study 2 Internal Control - Ljb Company

...ACCT 504 Week 5 Case Study 2 Internal Control - LJB Company Click Link Below To Purchase or visit homework-aid.com : http://homework-aid.com/ACCT-504-Week-5-Case-Study-2-Internal-Control-LJB-Company-1804.htm?categoryId=-1 Case Study 2 - Internal Control- Due by Sunday of week 5 LJB Company, a local distributor, has asked your accounting firm to evaluate their system of internal controls because they are planning to go public in the future. The President wants to be aware of any new regulations required of his company if they go public so he met with a colleague of yours at a local restaurant. The President of the company explained the current system of internal controls to your colleague. Your colleague has since been promoted to a tax position so she has passed on the information below so you can generate recommendations for the partner at your accounting firm to share with the President of LJB Company. Since LJB Company is a relatively lean organization, they have a lot of faith in their long-term employees. They have one accountant who serves as Treasurer and Controller which streamlines many of their processes. In this dual role, he purchases all of the supplies and pays for these purchases. He also receives the checks and completes the monthly bank reconciliation. The accountant is so busy that the company handles petty cash a bit differently. All employees have access to the petty cash in a desk drawer and are asked to only place a note if they use any...

Words: 943 - Pages: 4

Free Essay

Acct 504 Week 5 Case Study 2 Internal Control – Ljb Company

...A++PAPER;http://www.homeworkproviders.com/shop/acct-504-week-5-case-study-2-internal-control-ljb-company/ ACCT 504 WEEK 5 CASE STUDY 2 INTERNAL CONTROL – LJB COMPANY PRODUCT DESCRIPTION Case Study 2 – Internal Control- Due by Sunday of week 5 LJB Company, a local distributor, has asked your accounting firm to evaluate their system of internal controls because they are planning to go public in the future. The President wants to be aware of any new regulations required of his company if they go public so he met with a colleague of yours at a local restaurant. The President of the company explained the current system of internal controls to your colleague. Your colleague has since been promoted to a tax position so she has passed on the information below so you can generate recommendations for the partner at your accounting firm to share with the President of LJB Company. Since LJB Company is a relatively lean organization, they have a lot of faith in their long-term employees. They have one accountant who serves as Treasurer and Controller which streamlines many of their processes. In this dual role, he purchases all of the supplies and pays for these purchases. He also receives the checks and completes the monthly bank reconciliation. The accountant is so busy that the company handles petty cash a bit differently. All employees have access to the petty cash in a desk drawer and are asked to only place a note if they use any of the cash. The accountant has...

Words: 934 - Pages: 4

Free Essay

Acct 504 Week 5 Case Study 2 Internal Control Ljb Company

...ACCT 504 Week 5 Case Study 2 Internal Control LJB Company Click Link Below To Buy: http://hwcampus.com/shop/acct-504/acct-504-week-5-case-study-2-internal-control-ljb-company/ Or Visit www.hwcampus.com Case Study 2 – Internal Control- Due by Sunday of week 5 LJB Company, a local distributor, has asked your accounting firm to evaluate their system of internal controls because they are planning to go public in the future. The President wants to be aware of any new regulations required of his company if they go public so he met with a colleague of yours at a local restaurant. The President of the company explained the current system of internal controls to your colleague. Your colleague has since been promoted to a tax position so she has passed on the information below so you can generate recommendations for the partner at your accounting firm to share with the President of LJB Company. Since LJB Company is a relatively lean organization, they have a lot of faith in their long-term employees. They have one accountant who serves as Treasurer and Controller which streamlines many of their processes. In this dual role, he purchases all of the supplies and pays for these purchases. He also receives the checks and completes the monthly bank reconciliation. The accountant is so busy that the company handles petty cash a bit differently. All employees have access to the petty cash in a desk drawer and are asked to only place a note if they use any of the cash. The accountant...

Words: 941 - Pages: 4

Free Essay

Acct 504 Week 5 Case Study 2 Internal Control Ljb Company

...ACCT 504 Week 5 Case Study 2 Internal Control LJB Company Click Link Below To Buy: http://hwcampus.com/shop/acct-504/acct-504-week-5-case-study-2-internal-control-ljb-company/ Or Visit www.hwcampus.com Case Study 2 – Internal Control- Due by Sunday of week 5 LJB Company, a local distributor, has asked your accounting firm to evaluate their system of internal controls because they are planning to go public in the future. The President wants to be aware of any new regulations required of his company if they go public so he met with a colleague of yours at a local restaurant. The President of the company explained the current system of internal controls to your colleague. Your colleague has since been promoted to a tax position so she has passed on the information below so you can generate recommendations for the partner at your accounting firm to share with the President of LJB Company. Since LJB Company is a relatively lean organization, they have a lot of faith in their long-term employees. They have one accountant who serves as Treasurer and Controller which streamlines many of their processes. In this dual role, he purchases all of the supplies and pays for these purchases. He also receives the checks and completes the monthly bank reconciliation. The accountant is so busy that the company handles petty cash a bit differently. All employees have access to the petty cash in a desk drawer and are asked to only place a note if they use any of the cash. The accountant...

Words: 941 - Pages: 4

Free Essay

Acct 504 Week 5 Case Study 2 Internal Control - Ljb Company/ Homework-Aid

...ACCT 504 Week 5 Case Study 2 Internal Control - LJB Company Click Link Below To Purchase or visit homework-aid.com : http://homework-aid.com/ACCT-504-Week-5-Case-Study-2-Internal-Control-LJB-Company-1804.htm?categoryId=-1 Case Study 2 - Internal Control- Due by Sunday of week 5 LJB Company, a local distributor, has asked your accounting firm to evaluate their system of internal controls because they are planning to go public in the future. The President wants to be aware of any new regulations required of his company if they go public so he met with a colleague of yours at a local restaurant. The President of the company explained the current system of internal controls to your colleague. Your colleague has since been promoted to a tax position so she has passed on the information below so you can generate recommendations for the partner at your accounting firm to share with the President of LJB Company. Since LJB Company is a relatively lean organization, they have a lot of faith in their long-term employees. They have one accountant who serves as Treasurer and Controller which streamlines many of their processes. In this dual role, he purchases all of the supplies and pays for these purchases. He also receives the checks and completes the monthly bank reconciliation. The accountant is so busy that the company handles petty cash a bit differently. All employees have access to the petty cash in a desk drawer and are asked to only place a note if they use any...

Words: 943 - Pages: 4