...CPA904 – Applied Payroll Management Case Study - NutriGrow Submitted by Deborah Brimner, Debra Conrad, Grace Hsieh, Ashley MacAdam, and Monika Schmidt On February 28, 2013 Table of Contents 1 INTRODUCTION 3 2 BENCHMARKING 4 2.1 THE FIVE STEPS OF BENCHMARKING 4 2.2 THE PAYROLL BENCHMARKING TEAM 5 2.3 ORGANIZATIONS CHOSEN TO BENCHMARK 5 3 LIST OF ASSUMPTIONS 7 4 ENVIRONMENTAL SCAN 8 4.1 STAKEHOLDERS 8 4.1.1 Internal Stakeholders 8 4.1.2 External Stakeholders 8 4.2 INTERNAL AND EXTERNAL OPPORTUNITIES AND CONSTRAINTS 9 5 ISSUES 10 5.1 THE PAYROLL SYSTEM 10 5.2 PAYROLL PROCESSES AND PROCEDURES 13 5.3 TIME REPORTING SYSTEM 15 5.4 PAYROLL AND HR INFORMATION SHARING 17 6 OTHER ISSUES 20 6.1 PROJECT MANAGEMENT 20 6.2 CHANGE MANAGEMENT & COMMUNICATION 20 6.3 SPECIAL REPORT REQUESTS FROM OTHER DEPARTMENTS 21 6.4 PRIVACY ISSUES ARISING FROM THE NEW SOFTWARE SYSTEM 21 6.5 PAYROLL-RELATED CONCERNS AS COMPANY EXPANDS 22 7 PAYROLL’S ROLE IN THE ORGANIZATION 22 8 ACTION PLAN AND TIMELINE 23 8.1 IMPORTANT DEADLINES 23 8.2 TIMELINE 23 8.3 POTENTIAL ACCOMPLISHMENTS/MILESTONES 24 9 CONCLUSION 25 10 REFERENCES 26 11 APPENDIX 28 1 Introduction NutriGrow is a Canadian owned and operated agricultural supplies manufacturer, operating in the province of Manitoba. The organization has been in business for 60 years, with relatively slow growth until the recent introduction of a new product that was marketed to large agri-businesses with great...
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...©2011 Academic Journals Full Length Research Paper Management accounting: An instrument for implementing effective corporate governance Mayanja MK and Van der Poll HM Department of Management Accounting, Unisa, Pretoria, 0003 South Africa. Accepted 28 September, 2011 Management accounting is not given sufficient emphasis, at the board level, as a provider of timely and relevant information to facilitate the execution of good corporate governance. Without management accounting information corporations in Botswana may find it difficult to create sustainable corporate governance. A qualitative approach using questionnaires and interviews were used to establish the extent to which management accounting tools are applied by the directors in the target companies. The research was carried out amongst listed companies on the stock exchange and the parastatal companies in Botswana. Furthermore documentation, for instance annual financial statements from the companies were reviewed. Most directors in the companies do not fully utilise the tools of management accounting in decision making. Management accountants have also failed to provide the relevant information to the board. To execute their duties efficiently, directors may need to call for the management accounting reports from the senior management level up to the board level and regularly use these reports to facilitate decision making. Key words: Management accounting, corporate governance. INTRODUCTION Management accounting...
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...objectives and business objectives to align is created. The Information Technology Governance Institute (ITGI) illustrates this best in the statement, “While many organizations recognize the potential benefits that technology can yield, the successful ones also understand and manage the risks associated with implementing new technologies.” This is where IT Governance comes in to play. As highlighted in Dr. Steven Hornik’s September 22nd presentation on frameworks, there is a disconnect between the need for IT Governance and the practices of corporate executives. This research paper will be geared toward the education of corporate executives on IT Governance, various frameworks available for use, and the importance of knowledge and implementation due to accounting regulations. There will be 4 key elements covered: Introduction to Enterprise and IT Governance and the frameworks available, the importance of integrating accounting compliance regulations with IT security due to the Sarbanes-Oxley (SOX) act, a compare and contrast of the top frameworks with a compiled list of best practices from all the various frameworks, and finally a recommendation to executives. PART I. Stakeholders becoming increasingly concerned about the sound management of their interests have led to the emergence of governance principles and standards for overall enterprise governance. (Board...
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...According to the Beyond Budgeting by Hope & Fraser, they defined budget as the “year-end profit forecasts”. Budgets have been using by companies for years since decades ago as a tool for management to use to achieve its strategic goals. A company plans its expedition toward its strategic goal in a planned method, and its preparation for the expedition with a strategic plan called a budget. Critics of budgets claim that budgets are bad for business and no longer sufficient and are “fundamentally flawed” as a planning and control model in today’s complex and highly unpredictable business environment (McNally, 2002). Stewart (1990) claims that experts criticize budgets are being insufficient. According to him, “Budgets, says experts, control the wrong things, like head count, and miss the right ones, such as quality, customer services and even profits”(Stewart, 1990, p. 179). The Business Finance magazine published an article title “The Budget (1922-2009) claims that the budget is “dead”. The writer, Jack Sweeney argues that it is not useful and appropriate to the industry’s 20th-century management anymore. Prendergrast (2002) lists out the problems which are facing by the organisations with compiling the budgets for planning and control purposes. First, a lot of guesswork has to be done in the budgeting process. It is a hard work for the managerial staffs to complete the budget in today’s highly challenging business world. Second, it is fixed and inflexible, and can quickly...
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...to produce Sunday magazine inserts and coupons. Its printing presses are characterized by offset print technology and capable of high-capacity output; in addition, the company recently migrated to water-soluble inks, which reduce manufacturing emissions considerably. The company’s executive team, employees, and above all, its Vice President (VP) of Production, Luke Stewart, are committed to environmentally sustainable manufacturing practices. Presently, the only substrate Apex uses is paper, specifically newsprint of various weights. Trim and waste are recycled in accordance with the company’s sustainability commitment. Manufacturing divisions are geographically aligned with customers’ locations to minimize logistics cost and response time to customer requirements; however, a centralized corporate entity administers functions such as human resources, information technology, and financial reporting. The VP of Sales and Administration, James Simeon, oversees administration and quality compliance among the various divisions. There are presently five manufacturing divisions: Northwest, Southwest, Northeast, Southeast, and Midwest. Currently, Apex is only marginally profitable, and as such, the Chief Financial Officer (CFO), Mary Francis, has indicated that external financing will be required to support a company expansion into a new segment of...
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...to produce Sunday magazine inserts and coupons. Its printing presses are characterized by offset print technology and capable of high-capacity output; in addition, the company recently migrated to water-soluble inks, which reduce manufacturing emissions considerably. The company’s executive team, employees, and above all, its Vice President (VP) of Production, Luke Stewart, are committed to environmentally sustainable manufacturing practices. Presently, the only substrate Apex uses is paper, specifically newsprint of various weights. Trim and waste are recycled in accordance with the company’s sustainability commitment. Manufacturing divisions are geographically aligned with customers’ locations to minimize logistics cost and response time to customer requirements; however, a centralized corporate entity administers functions such as human resources, information technology, and financial reporting. The VP of Sales and Administration, James Simeon, oversees administration and quality compliance among the various divisions. There are presently five manufacturing divisions: Northwest, Southwest, Northeast, Southeast, and Midwest. Currently, Apex is only marginally profitable, and as such, the Chief Financial Officer (CFO), Mary Francis, has indicated that external financing will be required to support a company expansion into a new segment...
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...accounting process and the ways in which accountants undertake their roles. Bookkeeping, calculations and data storage that were previously maintained on paper are now all processed on computers through the use of accounting information systems. It is a known fact that accounting is influenced by external factors such as the economy, laws and society and it must persist to remain current with all the factors that affect the accounting process to maintain its effectiveness. Society has had a great influence over the accounting process, so much so, that a notion stating some information regarding the internal workings of a company should be made available to the public, forced the mandatory disclosure of a company’s financial information to its stakeholders as well as the public. Society has also influenced accounting in a more indirect manner. This can be illustrated by how the societal push towards a more environmentally aware culture forced new regulations and standards such as ISO 14001 (International Organization For Standards, 2010) to be established to reflect this perceptional change, which in turn indirectly created compulsory costs for a company pertaining to the promotion of environmental sustainability. Companies are now obligated to offset their pollution levels and any harmful bearings their corporate activities cause to the environment, as well as allocating some of their resources towards environmentally conscious activities such as recycling and waste...
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...Personal Branding Paper Obie L. Bolton MKT/421 1/12/15 Creig Foster Personal Branding Paper Obie a true Oklahoman born and raised in Tulsa with conservative values, honesty and integrity are always at the forefront. You will not find anyone else that will push you so hard to become your best and support the whole way. With his claim to fame phrase “Words mean something,” he is there to make sure that you put your best foot forward. Holly Frontier Holly Frontier is one of the leading petroleum refining companies in the United States. This company prides itself on health and safety of their employees, contractors and neighboring communities. They often do studies to ensure the protection of the communities in which their refineries are located. Reducing wastes and emissions is a top priority. Holly Frontier mentions in their mission statement “We tell the truth and respect others.” They strive to behave ethically in regards to their reputation with internal and external customers. This company seems to have built a culture around elevating their employees to their maximum potential. Holly Frontier believes in creating their own destiny and help shape their employees’ attitude to be excited and even motivated regarding change. These are a few of the reasons that make Holly Frontier an attractive company to work for. Encompass Home Health “A better way to care” That says so much to a patient or family that is looking for someone that will care for their family member...
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...MAINTENANCE MANAGEMENT DIPLOMA AND BACHELOR OF TECHNOLOGY DEGREE Asset Management Auditing, Benchmarking and Measures South African Breweries Limited THE SOUTH AFRICAN BREWERIES BEER DIVISION Asset Management Auditing, Benchmarking and Measures TABLE OF CONTENTS Course Map 1. General Information 2. Outcomes of this module 3. Study Material 4. Assignments 5. Guidelines to answering questions 6. The examination 7. Support for this module 3 4 5 6 7 8 9 9 2 Copyright 2011 The South African Breweries - LTD THE SOUTH AFRICAN BREWERIES BEER DIVISION Asset Management Auditing, Benchmarking and Measures COURSE MAP FOR DIPLOMA IN MAINTENANCE MANAGEMENT MODULE ONE MAINTENANCE THEORY MODULE TWO OPERATIONS MANAGEMENT MODULE THREE LEGAL COMPLIANCE MODULE FOUR ORG BEHAVIOUR – CHANGE MGT MODULE FIVE BENCHMARKING, AUDITING AND MEASURES MODULE SIX FINANCIAL MANAGEMENT MODULE SEVEN PLANNING & LOGISTICS MODULE EIGHT HUMAN RESOURCE MANAGEMENT MODULE NINE REPAIR & REPLACEMENT THEORY MODULE TEN CONDITION MONITORING 3 Copyright 2011 The South African Breweries - LTD THE SOUTH AFRICAN BREWERIES BEER DIVISION Asset Management Auditing, Benchmarking and Measures STUDENT GUIDE Asset Management Auditing, Benchmarking and Measures Module 1. GENERAL INFORMATION Welcome to the South African Breweries Maintenance Management Diploma and Bachelor’s Degree Course and specifically as a student in Maintenance Theory. We hope that you will find...
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...Problem Solution: InterClean, Inc. A look at the InterClean strategies reveals that the organization is in a ripe form for change of structure, business process, Human Resource (HR) alignment, communication process and employee management. A change is inevitable; the successful management of a change with buy-in from all affected quadrants is the ideal situation for InterClean to achieve the merger with EnviroTech. Such a solution can be found with the right implementation of the HR domain statement, nine step problem solving process, effective change management and conscientious decision making. The paper tries to identify the various issues related to the merger, challenges, opportunities, solution paths, time lines and risks associated with the implementation of solutions. The paper also provides a set of timelines and metrics for measurement of the outcomes. Situation Analysis Issue and Opportunity Identification InterClean belongs to an eight billion dollar industrial cleaning and sanitation industry. As per the scenario, the principal stakeholders are trying to increase the profitability of the company through change in the business strategy and by the acquisition of a new company EnviroTech, an acquisition that is in-line with new business strategy and bound to achieve the targeted profitability of 40%.(University of Phoenix, 2008). Based on the decisions of David (President and CEO), the HR have taken immediate steps at performing skill gap analysis and identifying...
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...Group project report PricewaterhouseCoopers Service for individuals Professor: Timur M. Atnashev Prepared by: Oleynik Stanislav Rizaev Ruslan Sarhad Omar Moscow 2015 Content Background 3 Goal 5 Trends 5 Segmentation 7 Industry analysis 9 Competition 13 Products 14 Action plan 15 Financial assessment 17 Marketing plan 19 Results 20 Background The company we are going to take for the analyses is one of the most popular and established consulting firm in the world – PricewaterhouseCoopers (PwC). The company was established in 1998 after the merger of two multinational companies - Price Waterhouse and Coopers & Lybrand, the history of each has more than 150 years of experiences in the consulting industry. Today, the company has operations in 6 continents in more than 150 countries in the world. In Russia, the company represents in 10 offices: Moscow, St Petersburg, Kazan, Ekaterinburg, Novosibirsk, Krasnodar, Rostov-on-Don, Voronezh, Yuzhno-Sakhalinsk and Vladikavkaz. All the offices in the country and all over the world are closely interact with each other and work together in order to increase the value of proving service and the client`s business. In Russia PwC brand is represented by 5 legal entities: * OOO PwC Advisory * ZAO PwC Legal * ZAO PwC Audit * Rep office of PwC Russia B. V. * Rep office of PwC Legal CIS B.V. Globally the company has 3 lines of service (LoS) in each country: ...
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...Introduction: This paper details the importance of the Quality audit, why audit are conducted and what is the purpose of auditing. It explains the process followed to organise, complete and report the audit. Also roles of the various audit team members including external experts/technical specialists are discussed. A brief overview of the audit process, what process and techniques are used during audit process. It also includes the importance of the entry and exit meetings, why these meetings are required and what is discussed in these meetings. This paper explores about the legislations, codes of practices and quality standards that applies to a Quality auditing. Also identifies what reports needs to be made as a result of audit findings, also discusses the formats of the reports and to whom these reports should be presented. A brief conclusion is presented in the last section summarising the findings and discussions. Quality Audits and Its Importance: Page 3 of 15 Name : Sonia Rana Quality audit is the process of systematic examination of a quality system carried out by an internal or external quality auditor or an audit team. It is an important part of organization's quality management system and is a key element in the ISO quality system standard, ISO 9001. Audits are tools to help an organisation review its processes, outcomes and activities. The outcome of an audit may result in any one or more of the following: A verification of compliance or non-compliance with a pre-determined...
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...[Que : 1] Define : Globalization Ans : from a strategic management point of view, organizations that are either seeking a global presence or maintaining and developing one have the necessary command of the volume and quality of resources, expertise, capability and willingness in the first place. This appears very trite. However, it is essential to consider the case from this perspective initially. This is because top managers of organizations with a strong domestic presence and peripheral activities in several other countries begin to describe themselves as global. It is a short step from this into getting sidetracked into existing, glamorous, messy, dangerous – and costly – adventure in locations about which they know and understand very little, and often care even less, except from the point of view of financial return. Glonalisation is a process whereby organizations seek to establish a presence in the majority of countries, markets and communities of the world. Globalization (or globalisation) describes a process by which regional economies, societies, and cultures have become integrated through a globe-spanning network of communication and trade. The term is sometimes used to refer specifically to economic globalization: the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology. However, globalization is usually recognized as being driven by a combination of economic...
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...Corporate Finance a) WACC A company’s weighted average cost of capital (WACC) is usually regarded as the minimum required rate of return. It is defined as the weighted average rate of return a company must pay to its long-term creditors and shareholders for the use of their funds. When WACC is used as the discount rate, it serves as a screening device in net present value analysis. To calculate WACC we must first find the expected return on share i E(Ri), using the securities market line equation, as follows: E(Ri) = RF + βi (E(RM) - RF) = 3% + 1.2 (13% - 3%) = 15% E(Ri) = expected return on share i E(RM) = expected return on the market = (Market risk premium + the risk free rate of return) = 13% RF = risk-free rate of return = 3% βi = beta of share i =1.2 As such, WACC can be calculated using the following equation: WACC = [D/(D+E)*RD](1-T) + [E/(D+E)*RE] = [40%*6%(1-28%)] + [60%*15%] = 10.728% D = value of total debt E = value of shareholders’ equity RD = cost of debt RE = cost of equity T = corporate tax rate b) NPV, IRR, & Payback Period Assumptions: - Generally speaking, because of difficulties related to identifying costs with particular activities and determining the future benefits, all R&D costs are expensed when incurred. They do not become part of the capitalised investment asset. As such, the €20m OMG has spent on R&D will be excluded from the NPV calculations...
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...Hire A Literature Review The study investigates the evolution, pros and cons of outsourcing as business function. Many researchers have identified various reasons to outsource an activity following a set process. The review proposed a well defined integrated outsourcing process model for effective outsourcing. Using an example of a global company this study detailed the benefits of externalization process and concluded that outsourcing is successful if activity selected is correct. Hire OUT-Sourcing 2 Global Procurement (BMO 5307) Assignment 1 Hire OUT -Sourcing A Literature Review Hire OUT-Sourcing 3 Contents Introduction ............................................................................................................................ 4 United Technology Corp. (UTC) ................................................................................................... 5 Rise of an Era - History & Evolution ......................................................................................... 5 Why Outsourcing? ................................................................................................................... 5 Procurement Outsourcing & UTC................................................................................................ 6 Where To Begin? ..................................................................................................................... 7 What UTC Was Willing To Achieve? .................
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