week 5 individual

5-34

(Risk of material misstatement) Your client, a manufacturer of computer components, has experienced slowing demand for its product. Recently, it cut back from three shifts a day to two shifts a day, and the company has eliminated the backlog of orders that existed in prior years by providing financing to customers. Newspaper reports indicate that competition has taken significant business away from the client because a large investment in R&D has not resulted in improved products. Furthermore, a small handful of your client’s customers are experiencing financial difficulties because of slowing demand for your client’s products.

Required

a. Consider the implications of the above information for revenues. What assertions, if any, are likely to be misstated? As a result, what accounts are likely to be overstated or understated? Explain your reasoning.

b. Consider the implications of the above information for inventory. What assertions, if any, are likely to be misstated? As a result, what accounts are likely to be overstated or understated? Explain your reasoning.

5-35

(Developing responses to assessed risks) Your client, General Television, Inc. manufactures televisions and during the current year acquired Micro Engineering, Inc., which manufactured flat panel plasma screens for computers so that it could compete in the market for flat panel televisions. Following is a list of several risks that have been identified in the audit of this television manufacturer.

1. General Television has strong internal controls over the existence of inventory. It has a good perpetual inventory system and regularly compares inventory on hand with the perpetual records.

2. Prices have been changing rapidly in General Television’s marketplace. Although the marketplace is relatively stable for traditional televisions, the prices on flat panel televisions have become much more competitive.

3. General Television had to pay a premium to acquire Micro Engineering. General Television had independent appraisals of the fair value of assets and has determined that about 35 percent of the purchase price should be allocated to goodwill.

Required

Answer the following questions for the risks described in 1, 2, and 3 above.

a. Identify the relevant assertion.

b. Does this assertion represent a significant inherent risk? Explain.

c. How might you respond to this risk in terms of staffing decisions?

d. How might you respond to this risk in terms of the nature of audit tests?

e. How might you respond to this risk in terms of the timing of audit tests?

f. How might you respond to this risk in terms of the extent of audit tests?

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Starting a Multinational Corporation

Your team is a large U.S. corporation that manufactures rubber tires, and you want to begin manufacturing and distribution in Japan.

• What are the political, cultural, environmental, and economic risks of doing business there?
• If you do decide to do business there, how would you staff the operation?
• What kind of approach would you take?
• What type of concerns would you have?
• What do you need to consider when you recruit, evaluate, train, and deal with labor relations issues?
• How would you select the manager?
• What are some of the issues to consider regarding the expatriate?
• What if it does not work out?

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QUALITY SUPPLY CHAIN MANAGEMENT

2,000–2,500 words including chart form section 1.

I ran into some difficulties and need this assignment within 48 hours

You have just been hired as the director of process improvement, a new position, by the VP of Operations for the ABC Manufacturing Company. ABC has been plagued by both internal and external vendor issues; the vendor issues involved repeated late deliveries and poor quality, while internally poor deliveries to customers resulted from both vendor issues, as well as quality and scheduling issues. The CEO’s instinct is that the factory could benefit from some wide-reaching process improvements.

The VP of Operations has decided that a far greater focus on vendor quality and internal process improvements must be taken. The VP of Procurement, prior to your coming on board, had already met with the CEO’s of ABC’s 4 major vendors and alerted them that he expected them to begin turning around their quality performance. About a month prior, he had sent each a letter suggesting several formal overall quality programs that they may embark upon, which included the following:

• TQM
• Juran's Trilogy
• Crosby's program 
• Deming's program 
• Six Sigma

The VP has already received the following responses from each of the main vendors, and he asked you, in coming months, to work with each vendor as they implement their quality initiatives.

• Company A had written back that it was planning to implement the Juran program but had not yet begun, hoping you could visit and shed some light on the overall concept, methodology, pros, and cons.
• Company B had written back that it was planning to implement the Crosby program but had not yet begun, hoping you could visit and shed some light on the overall concept, methodology, pros, and cons. 
• Company C had written back that it was planning to implement the Deming program but had not yet begun, hoping you could visit and shed some light on the overall concept, methodology, pros, and cons. 
• Company D had written back that it was planning to implement a TQM program but had not yet begun, hoping you could visit and shed some light on the overall concept, methodology, pros, and cons. 
• Company E had written back that it was planning to implement the Six Sigma program but had not yet begun, hoping you could visit and shed some light on the overall concept, methodology, pros, and cons.

 In addition, you know that as far as internal processes and overall supply chain management goes, that there may be opportunities for improvement. Currently, the following internal opportunities exist for possible process improvement:

•  Supply Chain Management  
• The company communicates separately with each vendor; usually when a forecast or production change is made, not every vendor finds out the same day. This leads to confusion, excess inventories, and stock outs.
• Demand Planning  
• The primary method to establish the master production schedule is to use a forecast that is created prior to the beginning of the year and updated monthly using salesmen’s inputs. Invariably, the company ends up producing too much of the wrong items (not demanded) and too few of what is in demand (real customer orders).
• Multistage Inventory 
• To create ABC’s final finished product requires a multiple-step supply chain, which looks something like the following: 
• Raw material to vendors factory
• Vendor processes raw materials to make their parts
• Those parts are shipped to ABC’s factory
• ABC processes purchased parts through a succession of departments, each one adding more and more vale
• Finally, all finished components are assembled into a finished product.
• Currently, every step in this entire supply chain is scheduled, monitored through some kind of MRP system, reported throughout the day, and seems to take an inordinate amount of system updating.
• Transportation Planning 
• ABC continues to use its own fleet to deliver finished goods all over the country and to have common carriers deliver parts from its vendors, also located all over the country. 
• Process Control, Performance, and Variability  
• ABC’s own internal process seem to all of a sudden go in and out of quality specifications; the company always seems to find out too late to avoid massive amounts of scrap, rejected parts, or labor costs to rework parts. 
• Negative and Positive Cash Flow 
• The company goes through frequent swings from positive to negative cash flows as inventory purchases for large lots create negative cash flows, but then using up these materials occur at a slower rate, and with less outgoing, cash flow becomes positive. The CFO really struggles with managing these cash flow swings.

Before you begin to put together a vendor visitation schedule, your boss, the VP of Procurement, advised you that the CEO expects a comprehensive report, in about a month, covering the following specific topics:

• The key characteristics and requirements and the pros and cons of each of the following overarching quality programs should be put into a chart format. The chart should have columns for an overall 1-sentence description of each program, its pros, and its cons. 
• TQM
• Juran's Trilogy
• Deming
• Crosby
• Six Sigma
• Provide your view on how a formal process improvement program could help at both vendor locations and inside ABC’s own factory.
• Specifically, in the areas of vendor quality and delivery performance, what are the benefits of creating a vendor certification program, and what does it involve?
• Specifically, in the area of ABC’s own internal workings, what opportunities for continuous improvement exist, and what exactly would you do?
• How do you get ABC itself to adopt a more continuous improvement mentality?

Finally, and most importantly, all these operational improvements could create a strategic advantage for ABC because most of its competitors have similar internal and vendor quality challenges, as well as internal operational challenges. 

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leadership and corporate Week4

Required Resources



Required Text

1. Read the following chapter from Business Ethics & Social Responsibility:
   1. Chapter 7: Organizational Factors: The Role of Ethical Culture and Relationships

Multimedia

1.          National Public Radio (2005, May 31). How Sarbanes-Oxley has affected corporate culture. [Audio File and Transcript] Retrieved from http://www.npr.org/templates/story/story.php?storyId=4673074

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Recommended Resources



Multimedia

1. AllanGregg. (2012, March 13). Daniel Goleman explains emotional intelligence [Video File]. Retrieved from http://www.youtube.com/watch?v=NeJ3FF1yFyc
2. HarvardBusiness. (2008, August 11). Social intelligence and leadership[Video File].  Retrieved from http://www.youtube.com/watch?v=7Qv0o1oh9f4

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Discussions

1. Federal Compliance Law 

Listen to a podcast of Linda Thomsen, former director of enforcement at the Securities and Exchange Commission:  How Sarbanes-Oxley has affected corporate culture. Discuss how the Sarbanes–Oxley Act has changed corporate culture.  A transcript of the podcast is also available through the URL.

Expand on how the Sarbanes–Oxley Act impacts organizational culture and why federal oversight like this is needed. 

Additionally, Linda Thomsen mentions in the podcast that she expects further misconduct to occur.  Why do you think this type of misconduct continues despite these regulatory laws? 

Support your views with evidence from the textbook or at least one article from the Ashford Library or another scholarly source.

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Assignment

Leadership and Corporate Culture

An organization’s leaders have influence and power to shape the corporate culture and motivate ethical conduct. 

In a three to five page paper excluding title page and reference page(s), evaluate the influence and power that corporate leaders have in shaping the corporate culture. 

Include the following in your evaluation:

• Description of important ethical leaders in an organization and their various roles.
• Illustration of the relationship between ethical leaders and stakeholders.
• Summarization of the various leadership styles and classifications and their impact on corporate culture. 
• Analysis of the influence of leadership style on ethical decision-making, including specific examples drawn from research on today’s business leaders.  Be sure to include reference to two or more articles from the Ashford Library or other scholarly sources that highlight the influence of power and leadership style on corporate culture.  These two sources apply toward the total requirement of three sources for the paper.

To conclude your evaluation, summarize your position on the influence of ethical leaders in contributing to a corporate ethical culture.

Support your evaluation with at least three resources from the Ashford Library or other scholarly sources, in addition to the textbook.  Your paper must be correctly formatted according to APA 6th edition style guidelines.

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International Business

write up to 3 paragraphs that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas: 

• Search the library and the Internet pertaining to the European Union and its advantages and disadvantages since its formation in 1992. Provide at least 2 sources that illustrate examples of how companies have changed the way in which they conduct their operations.
• Can you think of any disadvantages to the formation of the European Union from a business perspective? Explain.
• Provide specific examples to support your points in your post.

APA format with in-text citations

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