Free Essay

Boaz Motors Corporation

In:

Submitted By brad
Words 730
Pages 3
BOAZ Motor Corporation

COMPANY BACKGROUND AND FINANCIAL HIGHLIGHTS

Diamond Motor Group of Companies obtained a franchise right to market and sell Hyundai lines. This gave rise to the formation of its affiliate, Boaz Motor Corporation. They opened a shop along Marcos Highway bordering Pasig and Cainta. It was established and incorporated in August 28, 2006. During its early years, Boaz experienced net losses as a starting company and lack of sales manpower. This year marks the company’s largest income due to expanded customer base and significant increase in sales in its top-selling vehicles and among these are Grand Starex, Santa Fe and Tucson.

OPERATIONS

Basically, Boaz is engaged in selling cars, parts and providing vehicle services such as car repairs, diagnosis and maintenance. Hyundai Motor Company (HMC) in South Korea made Hyundai Asia Resources, Inc. or HARI, the official distributor of Hyundai vehicles in the country. HARI has thirty-two dealerships in the country and Boaz is one of them. The general setup between Boaz and HARI works like this. Boaz purchases vehicles from HARI through financing of major banks. HARI also gives its distributors subsidy for its monthly purchases so that Boaz can acquire and deliver more vehicles in the Philippines. Subsidies vary based on the model of the vehicles purchased. The acquisition of parts, however, is exclusively under cash basis. Apart from Hyundai Asia Resources, its other major suppliers are Pilipinas Shell, Karmelcon and Autodresscode. Its customers are primarily fleet accounts, and the major ones are R&E Transport, Incorporated, Smart Communications, JME Transport, Incorporated and Japan-PNB Leasing Finance.

BUSINESS MODEL

Boaz is divided into seven different departments. The table below shows the departments and its respective functions.

|Accounting |Provides, financial information, report and analysis |
|Sales |Income-Generating Department (Vehicle Sales) |
|Parts & Service |Income-Generating Department (Parts and Service Sales) |
|Customer Relations |Caters to customer service-related issues |
|Human Resources |Deals with employee-related matters |
|Finance& Insurance |Processes various vehicle invoices. LTO Registration and Insurance of Vehicles. They are also in charged of payment |
| |collection (vehicle sales, parts and service |
|Cashier |Processing receipts and cash custody |

OWNERSHIP/ORGANIZATIONAL STRUCTURE

Currently, Boaz has a total of forty-three (43) regular and probationary employees, thirty-eight (38) allowance-based consultants, four (4) parts and services OJT’s and one (1) carwash boy. Below are the company’s top officers and their positions. All of them have been with the company for four years.

|Ma. Dulce Blaylock – Chairman |
|Richard Blaylock – Director |
|Ma. Purisima Sison – Director |
|Joy Fernandez – Treasurer |
|Maurice Dizon – Director |
|Cresencio Vincent Fernandez Jr – President |
|Pauline Sevilla – Corporate |
|Secretary |

ACCOUNTING SYSTEMS

Boaz uses Data Management Information System (DMIS) as their AIS. The Accounting, Cashier, Parts and Service and Finance and Insurance Department use this integrated system. The other two, Sales and Human Resources Department, are not using any computerized system. Through this, the financial statements are processed and prepared monthly.

PEOPLE AND PROCEDURES

DMIS has variety of modules, which cater to the needs of each user. For instance, in Accounting Department, they have Accounting Management Information System (AMIS), the Cashier uses Cash Management Information System (CMIS) and they are both integrated within the DMIS System. In AMIS, the Accounting people use the generated reports to facilitate reconciliations of various transactions and to finalize financial statements and other reports as needed by the management. In the process of collecting, managing and storing financial data, further validation occurs before the final posting. The data are inputted to the system through importation. For an instance, Sales Journal and Cash Receipts Journal are being imported from Sales Management System and Cash Management System to Accounting Management System. Again, the entries are to be reviewed first before posting. Whenever vital updates and upgrades are being introduced in these systems, Boaz occasionally seeks the help of the IT people from Netspeed, the firm that created this packaged software.

INTERNAL CONTROLS AND SECURITY MEASURES

To safeguard the data stored in the system, password maintenance is secured as to the access of module and periodic closure of books. The Finance Manager has all the access to the AIS while his subordinates have limited access only, likewise, through the use of passwords. With respect to the assurance that its system produces accurate and reliable results, vouching is its main effective measure.

GROUP 7

Dela Cruz, Brad
Leano, Klau
Martinet, PJ
Paduano, Stephen
Santiago, Rachel
Supe, Dennis

Similar Documents

Premium Essay

University in the Box

...University of Nairobi MBA Project List 2011 CANDIDATE | PROJECT TITLE | NDIRANGU SAMUEL NJOGO | A SURVEY INTO THE CAUSES OF FINANCIAL DISTRESS IN CO-OPERATIVE SOCIETIES IN NAIROBI | NDIANG’UI DOROTHY WAIRIMU  | THE RELATIONSHIP BETWEEN DIVIDEND GROWTH AND RISK FOR COMPANIES LISTED AT THE NSE | MURIITHI ERIC  | THE RELATIONSHIP BETWEEN CORPORATE GOVERNANCE PRACTICES AND FINANCIAL AND FINANCIAL PERFORMANCE OF INVESTMENT BANKS IN KENYA | NICHOLAS KIPYEGOMEN CHEPKOIWO | FACTORS AFFECTING THE DEVELOPMENT OF EMERGING CAPITAL MARKETS.  THE CASE OF NAIROBI STOCK EXCHANGE | KIPKURUI KIMOSOP | THE RELATIONSHIP BETWEEN CORPORATE GOVERNANCE AND FINANCIAL PERFORMANCE OF INSURANCE COMPANIES IN KENYA | OMENDA CHRISTOPHER ODHIAMBO  | EFFECT OF STOCK SPLITS ON STOCK LIQUIDITY OF COMPANIES QUOTED AT THE NSE | GEORGE MARTIN NZIVE KASYOKA | THE USE OF STRATEGIC POSITIONING TO ACHIEVE SUSTAINABLE COMPETITIVE ADVANTAGE AT SAFARICOM LIMITED | MUTIE PETER KIOKO | RELATIONSHIP BETWEEN PRIOR PERIOD DIVIDENDS AND FINANCIAL PERFORMANCE OF FIRMS LISTED AT THE NSE  | EVANS ODHIAMBO OYIEYO | BALANCE SCORE CARD AS A STRATEGIC MANUFACTURING INDUSTRY IN KENYA | SAMBA STEPHEN MIDEGA | INVESTIGATION OF CAPACITY MANAGEMENT STRATEGIES AND THEIR INFLUENCE ON SERVICE QUALITY: CASE OF NAIROBI SUPERMARKETS. | LUCY MUTHEU KIILU | CAUSES OF INDUSTRIAL DISPUTE IN GARMENT FACTORIES AT THE ATHI RIVER EXPORT PROCESSING ZONES, KENYA | JENIFFER N. MULI | THE RELATIONSHIP BETWEEN HOUSE PRICES AND MORTGAGE...

Words: 15830 - Pages: 64

Free Essay

The Public Needs to Know

...******Created by ebook converter - www.ebook-converter.com****** ******ebook converter DEMO - www.ebook-converter.com******* ******Created by ebook converter - www.ebook-converter.com****** KOINONIA HOUSE Coeur d’Alene, Idaho 83816-0347 ******ebook converter DEMO - www.ebook-converter.com******* ******Created by ebook converter - www.ebook-converter.com****** COSMIC CODES Copyright © 1999 by Koinonia House Revised 2004 P.O. Box D Coeur d’Alene, ID 83816-0347 Web Site: http://www.khouse.org Second Printing 2004 Third Printing 2011 ISBN 978-1-57821-072-5 Design and production by Koechel Peterson & Associates, Minneapolis, Minnesota. Scripture quotations in this book are taken from the King James Version of the Bible. All rights reserved. No portion of this book may reproduced in any form without the written permission of the Publisher. Printed in the United States of America. ******ebook converter DEMO - www.ebook-converter.com******* ******Created by ebook converter - www.ebook-converter.com****** “Cosmic Codes was the authoritative resource that we relied on in the research of our PAX-TV/Discovery Channel television special Secrets of the Bible Code Revealed. It’s absolutely packed with fascinating factual information on all of the Bible-related codes.” DAVID W. BALSIGER PRODUCER, SECRETS OF THE BIBLE CODE REVEALED “Chuck Missler writes from a technological and Biblical background in this cutting-edge analysis of the hidden codes...

Words: 141008 - Pages: 565

Free Essay

English Vinglish

...Copyediting & Proofreading FOR DUMmIES by Suzanne Gilad ‰ Copyediting & Proofreading For Dummies® Published by Wiley Publishing, Inc. 111 River St. Hoboken, NJ 07030-5774 www.wiley.com Copyright © 2007 by Wiley Publishing, Inc., Indianapolis, Indiana Published by Wiley Publishing, Inc., Indianapolis, Indiana Published simultaneously in Canada No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, 222 Rosewood Drive, Danvers, MA 01923, 978-750-8400, fax 978-646-8600. Requests to the Publisher for permission should be addressed to the Legal Department, Wiley Publishing, Inc., 10475 Crosspoint Blvd., Indianapolis, IN 46256, 317-572-3447, fax 317-572-4355, or online at http://www.wiley.com/go/permissions. Trademarks: Wiley, the Wiley Publishing logo, For Dummies, the Dummies Man logo, A Reference for the Rest of Us!, The Dummies Way, Dummies Daily, The Fun and Easy Way, Dummies.com, and related trade dress are trademarks or registered trademarks of John Wiley & Sons, Inc., and/or its affiliates in the United States and other countries, and may not be used without written permission. All...

Words: 125743 - Pages: 503

Free Essay

Child Labour

...10000 quiz questions and answers www.cartiaz.ro 10000 general knowledge questions and answers 10000 general knowledge questions and answers www.cartiaz.ro No Questions Quiz 1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 Carl and the Passions changed band name to what How many rings on the Olympic flag What colour is vermilion a shade of King Zog ruled which country What colour is Spock's blood Where in your body is your patella Where can you find London bridge today What spirit is mixed with ginger beer in a Moscow mule Who was the first man in space What would you do with a Yashmak Who betrayed Jesus to the Romans Which animal lays eggs On television what was Flipper Who's band was The Quarrymen Which was the most successful Grand National horse Who starred as the Six Million Dollar Man In the song Waltzing Matilda - What is a Jumbuck Who was Dan Dare's greatest enemy in the Eagle What is Dick Grayson better known as What was given on the fourth day of Christmas What was Skippy ( on TV ) What does a funambulist do What is the name of Dennis the Menace's dog What are bactrians and dromedaries Who played The Fugitive Who was the King of Swing Who was the first man to fly across the channel Who starred as Rocky Balboa In which war was the charge of the Light Brigade Who invented the television Who would use a mashie niblick In the song who killed Cock Robin What do deciduous...

Words: 123102 - Pages: 493

Premium Essay

Business Management

...Perception of Classroom Management and Productive Techniques in Teaching 74 Thomas J.P.Brady Developing Digital Literacy in Teachers and Students 91 Lorenzo Cherubini Ontario (Canada) Education Provincial Policy: Aboriginal Student Learning 101 Jennifer Dahmen Natascha Compes Just Google It?! But at What Price? Teaching Pro-Environmental Behaviour for Smart and Energy-Efficient Use of Information and Communication Technologies 119 Marion Engin Senem Donanci Using iPads in a dialogic classroom: Mutually exclusive or naturally compatible? 132 Nahed Ghazzoul Teaching and Learning in the Age of 'Just Google it' 149 Saba A. Gheni Falah H. Hussein Teaching Against Culture of Terrorism in the Middle East 162 Jessica Gordon Bonnie Boaz Integrating Digital Media into Multimodal Compositions: Five Trends in the Transfer of Rhetorical Skills 173 Jeehee Han Public Opinion on Health Care Policies in the 21st Century 181 Elijah C. Irozuru M. Ukpong Eno Home Environment,...

Words: 236613 - Pages: 947

Premium Essay

A Good E-Book on Various Religions Across the World

...PRE SS® This publication is a creative work fully protected by all applicable copyright laws, as well as by misappropriation, trade secret, unfair competition, and other applicable laws. No part of this book may be reproduced in any form without permission in writing from the publisher, except by a reviewer who wishes to quote brief passages in connection with a review written for inclusion in a magazine or newspaper. All rights to this publication will be vigorously defended. Visible Ink Press® 43311 Joy Rd. #414 Canton, MI 48187-2075 Visible Ink Press and The Handy Religion Answer Book are trademarks of Visible Ink Press LLC. Most Visible Ink Press books are available at special quantity discounts when purchased in bulk by corporations, organizations, or groups. Customized printings, special imprints, messages, and excerpts can be produced to meet your needs. For more information, contact Special Markets Director, Visible Ink Press, at www.visibleink.com or (734) 667-3211. Art Director: Mary Claire Krzewinski Typesetting: Graphix Group Library of Congress Cataloging-in-Publication Data Renard, John, 1944The handy religion answer book / John Renard. p. cm. ISBN 1-57859-125-2 (pbk.) 1. Religions--Miscellanea. I. Title. BL80.2 .R46 2001 291--dc21 Printed in the United States of America All rights reserved 10 9 8 7 6 5 4 3 2 1 2001004052 CIP Contents I NTRODUCTION ix ACKNOWLEDGMENTS xiii C HRONOLOGY OF MAJOR EVENTS xv GE N E RAL BAC KGROU...

Words: 245202 - Pages: 981