# July 2017 - Page 60 of 60 - Signifiance

Operation Management

1) F&N suppliers requirements : 1) Lower cost of ingredients 2) Quality aluminum, glass, plastic bottle 3) Accurate supply and no out of stock F&N end customer requirements : 1) taste 2) flavor 3) thirst 4) nice packaging The organization that I would like to highlight is F&N Beverages (M) Sdn Bhd. This company is one of the biggest manufacturers of beverages and isotonic drinks in Malaysia. The brands under the belt of this company are 100 Plus, Coca Cola, F&N Orange Juice and many others well known established sub brands. Conversion/ Transformation Process from F&N end user to its suppliers via Product Planning and Marketing Team

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New isotonic products that will have the greatest taste and flavor. It also able to quench thirst and come with nice packaging F&N beverage end product:- 1) New isotonic drinks Input from F&N Suppliers:- 1) Good quality at low cost ingredients 2) Good quality of aluminum, glass, plastic bottle 3) Fast delivery and optimal stocks Requirement of F&N Management: 1) New market penetration 2) More profits 3) Satisfied customer needs 4) Satisfied all other stakeholders Using the minimal resources to create new isotonic drinks that will capture the untapped market opportunity (Diagram 1)

Refer to Diagram (1) above, the scenario depicted F&N Beverage (M) Sdn Bhd decided to introduce a new isotonic product into the beverage market segment. In order to introduce and mass produce this new product, F&N need to deploy a huge sum of investment or money in its product planning unit. F&N will then employ temporarily men or workforce to do market survey to understand the current demands and the untapped needs of the isotonic market segment. Method such as focus group can also be conducted to get each participant feedback on their needs and how F&N can satisfy this need.

The result of the feedback may be in the form of special taste, flavor, nice packaging and most important an isotonic beverage that can fulfilled the customer thirst. After engaging the potential end user and understand their needs, F&N marketing team will need to work closely with the product planning department to derive a formula that can satisfied this users needs. Thus, inter-department communication and information sharing is very much important so that all data collected will be the tabulated and converted or transformed into the special isotonic formula.

Then, this formula ingredient information is supply to F&N supplier. F&N supplier which consists of the material or ingredient supplier, aluminum foil, glass bottler and plastic bottler will follow and execute the demand given by F&N. These suppliers will deliver the materials require to F&N manufacturing plant. The machine which has been equipped with the data will start producing the new isotonic drinks in F&N plant. The new product effectiveness is then measure by conducting again different product testing group methodology.

The new product is then confidently mass produce into the beverage markets. This new products satisfied the consumer taste and flavor. It also comes in exciting packaging and most importantly satisfied the customer thirst. However, for the F&N management team, the most important returns of this new product is money in the form of increase profits. Nevertheless, the motive power could be long term returns in the form of new market penetration and increase of market share for F&N in the beverage industry. It could be also F&N management long term objective of satisfying its customers’ needs.

Lastly, F&N management will be able to deliver the best performance for its stakeholders such as shareholders and employees. 2 (a) i) Productivity can be increased by increasing output while maintaining input constant. This could be by using TQM, JIT or ISO concept that reduce cost and maximize output. ii) Productivity can be increased by decreasing input while maintaining output constant. This could be done by reducing labor force and embracing new technology. iii) Productivity also can be increased by increasing output in greater proportion than increase in input.

This is done by increasing factory space or engaging state of the art technology of production process. (b) Refer to option (i), company may wants to increase the production of their products while constantly maintaining the resources such as factory size, workforce or capital expenditure. For example, Panasonic (M) Sdn Bhd can increase the production of LCD TV by practicing and embracing the Just In Time (JIT) or Total Quality Management (TQM) in its production process. The usage of these methods continuously will reduce cost and maximize output for Panasonic LCD TV.

For option (ii), the company may wants to decrease the input of resources such as workforce, capital or factory while constantly maintaining the output or productions. For example, Panasonic (M) Sdn Bhd can reduce the number of workforce from 500 staffs to 100 staffs by building a computerized manufacturing system for the long term goal of achieving increase of productivity. This in long run will reduce the cost associated on employee wages and benefits. A computerized manufacturing system can also minimized defects or poor quality associated with extensive use of manual labors.

For option (iii), the company may decide to increase the production faster and at a greater proportion compare to the increase of input or raw material. For example, Panasonic may decide to operate in a bigger manufacturing plant that has the state of art facility in terms of computerized manufacturing system. This new bigger plant although may require additional input of capital expenditure such as purchasing of new land or cost associated in building the plant ,in the longer term it generates 10 times more LCD TV compare to its old manufacturing plant. 3 a)

Group technology is a manufacturing philosophy in which similar parts are grouped together in a cell. By doing this, it will lead to simplify design, manufacturing, purchasing and other business processes. Consequently it will leads to high quality level and profitable production. There are many advantages of using Group Technology in the manufacturing process. One of the advantage is it will leads to reduce purchasing cost. Purchasing can group similar parts and achieve quantity discounts. For non-standard purchased parts, grouping helps suppliers achieve savings and reduce price.

For example in Proton, the purchasing department will be able to leverage and get quantity discounts by purchasing similar parts from Proton vendors. Thus this reduce of cost can be pass down to Proton customers which will able to get Proton cars at a reasonable price. Also, as the Group Technology environment encourages the use of information and data sharing on the costing, stocks availabilities and delivery lead times, businesses will be able to leverage this information to negotiate with vendors and suppliers for the best cost and parts availabilities.

For example, Dell Computers can source it parts from different vendor across its vendor list using the sourcing data available and this will reduce any shortfall in its production process. The next advantage of Group Tehnology is it will assist in faster lead time for product reaching consumers. In Group Technology environment, the manufacturing process is speed up by reducing in-process inventories by moving parts quickly. However, in a traditional manufacturing facility, parts may spend lot of waiting time in line for machines to become available.

For example, Sony Erickson will be able to mass produce its mobile phone which reach consumer fast by moving parts quickly and reduce in-process inventories in its manufacturing factories. Another advantage of Group Technology is that it assists in accurately estimating cost. As costs are collected by cell and family rather than individual part, a simple allocation procedure assigns costs accurately within families. For example, the costing department in Apple for example can easily estimate the cost of different parts associated in the manufacturing IPAD by assigning cost accurately within the different parts of the products.

Any fluctuation of the cost can be estimated via data collected from it vendors. This will result in more efficient costing process and save cost in the manufacturing of IPAD. Group Technology also allow quicker design changes. For example, changing moulds of pre cast electrical posts is often required to meet varying standard heights and varying standard sizes. By using Computer Aided Manufacturing technologies which often available in GT environment can automatically adjust the molding structures to meet the sizes and heights rapidly. Lastly, Group Technology also improves better communication between supplier and buyer.

It reduces human errors which is always associated in a traditional manufacturing process. For example in the manufacturing of electrical devices such as Canon digital cameras uses parts coding and classifications to differentiate each parts of the electronic and electrical devices. This coding and classifications are highly versatile in manufacturing, design and purchasing of parts from vendors and suppliers and reduces the risk of human errors. 3 b) There are also disadvantages associate with Group Technology. One of the disadvantages is the high start up cost associated with Group Technology.

As group technology uses Computer Aided Manufacturing technology which requires substantial start up cost to build, many small sizes enterprise or new establish businesses may not able to come up with such huge investment. For example in China, although the uses of Group technology in garment manufacturing may reduces cost and speed up manufacturing of new clothing, many small China garment manufacturers still practice using cheap labor to manually design and manufacture new clothing. This is due to the labor investment is relative low compare to adoption of Group Technology.

Also, adoption of Group Technology in traditional manufacturing process sometimes faces resistance from the traditionally run management. They fear that the adoption of these new processes will result in more investment and time needed to spend in understanding and building the new technology from scratch. For example, many small homemade Malaysian food manufacturer still prefer using human labor rather than group technology to produce package food such as fish ball, belacan and etc. 4 a) Bottleneck is defined as a resource ‘where capacity is equal to or less than the demand being placed upon it’.

Potential bottlenecks are those resources which appear on the shortage list but not the excess list. One of the possible bottleneck area in Dell’s super efficient supply chain in the context of Optimized Production Technology (OPT) is breakdown of the Dell assembly plant due to natural disaster such as earthquake and flood. For example, if Dell major assembly plant in Sichuan, China suddenly stops production of Dell’s computers due to earth quake, it will unintentionally disrupt the production and the shipment of Dell’s computers to its sales and distribution hub all over Asia.

This will result in Dell will not able to meet the demands from its customers on time. However, with the availability of Optimized Production Technology, Dell’s will be able to resolve this issue immediately. Optimized Production Technology objective is to schedule production so that the production output is maximized. The key distinctive feature is its ability to identify and isolate bottleneck operations, then to focus on these bottlenecks to determine production plans and schedules for the entire production process.

This will lead to the better utilization of manufacturing resources, resulting in greater productivity and lower costs. In the above scenario for example, Dell’s will be able to identify the sudden drop of production in Sichuan plant immediately. Dell will identify the factory which unable to produce on time and shift it resources to other Dell’s assembly plant in other unaffected countries in Asia. For example, it may increase or triple productions from its plants in Malaysia in order to meet the demand from its customers.

Another way is that the sales and marketing team of Dell create new demand to something else if the first option cannot be duplicated in its other plants. Dell use its OPT system to get sales forecasts and with product routing of bills of materials data, a resource network can be built up incorporating information relating to the resources. This information will then be used to shift the demand for Dell products to other new product that is not affected by the breakdown in China assembly plant. b) There are positive and negative implications if Dells runs the factory with just five to six hour’s level of inventory. One of the positive implications of this situation is that Dells will be able to reduce high overhead costs which are always associated with traditional manufacturing process. With low inventory, Dell’s do not need to pay for the financing of its raw materials and parts. Consequently, Dell’s will be able to save on capital expenditure and interest in overheads.

This savings in returns will be use for other major expenditure such as increasing more factories or invest in new research and developments. For example, with cost savings from the inventories, Dell’s will be able to use this savings to open up more manufacturing plant in China to build more laptop computers. Besides that, with less inventory, Dell’s will be able to move quicker and speedier in terms of coming out with new design and specifications for its products. As Dell’s inventory of current models is low, Dell’s can use its financial capitals to invest in newer raw materials or different parts.

In another words, Dell’s will be able to shift its designing and manufacturing for newer products without worrying of the assisting current inventories on hand. For example, with fewer inventories, Dell’s will be able to produce and come out with newer version of its current laptop models with newer parts and specifications. Also, it will leads to more high quality finished products for Dell. With lower inventories, Dell’s will be able to closely monitor and continuously check its raw materials or parts from defects or poor quality.

For example, if Dell’s keeps low inventories of the monitor screen parts, its quality inspection units will be able to identify quickly any defects in the screen and make necessary changes immediately. However, there are also negative implications if Dell keeps a low inventories lead time. If there is a sudden drop of supply of raw material or parts from its major suppliers, Dell’s will not be able to deliver the finished products on time to its customers. This will result to unsatisfactory quality products.

For example, with lower inventory level lead time, a sudden drop of its computer parts such as the laptop batteries will result to Dell’s unable to meet the demands from its customer on time. Also, another negative implication is troubleshooting. Due to the low inventories lead time, Dell will not able to solve a particular issue on the spot as productions are running at a speeding rate. Some minor issue which is unresolved in the production process may become a big issue when the products reach its customers. This will again create unsatisfied customers.

Western Ideals

The Western Evils The infiltration of western ideals into the Japanese Culture had forever changed customs and traditions of the Japanese society as a whole. Yet was it as it was stated in a 1941 pamphlet issued by the Japanese Ministry of Education entitled “The Way of the Subjects. ” “this country has been widely seeking knowledge in the world since the Meiji Restoration, thereby fostering and maintaining the prosperity of the state.
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With the influx of European and American culture in this country, however, individualism, liberalism, utilitarianism and materialism began to assert themselves, so that the traditional character of the country was much impaired and the virtuous habits and customs bequeathed by our ancestors were affected unfavorably” Had the infiltration of individualism,liberalism,utilitarianism and materialism corrupt the once glorious and honorable society of Japan? Or perhaps had it enlightened their society to a new way of thinking?

To answer these questions I’d like to give a brief highlight of how women were viewed in Japanese Culture prior to the infiltration of the western ideology. To do so I will be referencing Andrew Gordon’s book entitled: A Modern History of Japan. To start off I’d to address the role of women prior to the infiltration of western ideology. More precisely the the views of the Orthodox in the Tokugawa society, that being that “women should be kept ignorant and in the kitchen. ”[1] However that wasn’t the case rather it was that this belief was more to keep women as submissive an obedient .

It was further brought out that women worked as managers of farms for the wealthy in addition to their regular household duties. [2] So exactly how did this system change after the infiltration of the western ideology? Well to answer this question I’m going to reference Funichiro Tanizaki’s book entitled: Some Prefer Nettles and Nakano Makiko’s book entitled: Makiko’s Diary. When we look upon the example set by Makiko in Nakano Makiko’s book entitled: Makiko’s Diary, we can see no change in the sense of a submissive an obedient partner.

An example of this can be taken from how Makiko’s spouse frequently parties and she waits up for him every night. [3] However the change that is displayed by Makiko is that of becoming more materialistic. This can be seen through out the text as she speaks of the gifts that they had received an especially when she talks about the camera that they had came to posses. [4] So what of the example set forth by Funichiro Tanizaki’s book entitled: Some Prefer Nettles? Well as seen in the beginning of the book Kaname’s wife Misako was anything but loyal.

This is clearly show through the fact that his wife had another lover by the name of Aso. [5] Another theme that found its way through this book as well is the materialistic desires of the people in their society. A picture is painted through the illustration of the prostitute that Kaname goes to see by the name of louise. In the book it speaks of how she has a taste for things western and of course money. [6] Given these examples can it honestly be said that the infiltration of western ideology had corrupted the Japanese Culture?

Well as we can clearly see, yes there was a big difference between what was acceptable prior to the infiltration of western ideology, then to as it was after. However to say that it was because of the infiltration of western ideology that made this all come to be is rather a foolish statement. The fact is that these ideologies; individualism, liberalism, utilitarianism and materialism are merely nothing more then human nature. It can honestly be said that with the infiltration of western ideology the Japanese people were allowed to be more free to express themselves more freely then before.

Then again I maybe wrong, partly because according to the Japanese Ministry of Education I have been corrupted by these western evils. ———————– [1]Andrew Gordon: “A Modern History of Japan” (Oxford University Press,2009), 32 [2]Gordon, 33 [3]Nakano Makiko, “ Makiko’s Diary”(Stanford University Press,1982),102 [4]Makiko,150-152 [5]Funichiro Tanizaki, “Some Prefer Nettles” (First Vintage International Edition,1955),4 [6]Tanizaki,165-171

Time Frames

Nolli me tangere he Noli me tangere [1] is a novel written by Jose Rizal , and published in 1887 , in EuropeNoli me tangere, meaning “don’t touch me” / “touch me not”, is the Latin version of words spoken, according to John 20:17, by Jesus to Mary Magdalene when she recognizes him after his resurrection. El filibusterismo El filibusterismo (lit. Spanish for “The Filibustering”[1]), also known by its English alternate title The Reign of Greed,[2] is the second novel written by Philippine national hero Jose Rizal.
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It is the sequel to Noli Me Tangere and like the first book, was written in Spanish. It was first published in 1891 in Ghent, Belgium. Throughout the Philippines, the novel is read in senior high schools. Uncle Tom’s Cabin; or, Life Among the Lowly is an anti-slavery novel by American author Harriet Beecher Stowe. Published in 1852, the novel “helped lay the groundwork for the Civil War”, according to Will Kaufman 1. Period of Re-orientation (1898-1910) Periodicals El Renacimiento-founded in Manila by Rafael Palma in 1901 Philippines Free Press-established in Manila in 1905 by R.

McCollugh Dick and Dr. Theo Rogers Poetry Sursum Corda (lift up your hearts) Written by Justo Juliano in 1907, was the first work to be published in English, appeared in Renacimiento My Mother and her Air Castles Written by Jan F. Salazar in 1909 Also published in Renacimiento To my Lady in Laoag By Proceso Sebastian in 1909 Drama -R. I. P (1902) -Walang Sugat (Zarsuela) -Sigalot ng mga Filipino at mga amerikano (1898) -Los Ramitos de Flores (Flowered Boughs), 1908 written by Severino Reyes -Kahapon, Ngayon at Bukas (1902) -Bagong Kristo (1907) by Aurelio Tolentino

Fictional Prose -Maring (1908) -Buhay (1909) by Aurelio Tolentino Non Fiction Prose -La Punta de Salto ( the place of the origin) written by Macario Adriatico 2. Period of Imitation (1910-1925) Essayists of this time were Carlos p. Romulo, Jorge C. Bocobo, Mauro Mendez, Vicente Hilario Short Stories Dead Stars by Paz Marquez Benitez Newspapers and Periodicals Bulletin Philippine Herald(1920) Philippine Review The Independent Rising Philippines and Citizens The Philippine Education Magazine (1924) Writers during this period Bernardo P. Garcia

Eulogio B. Rodriguez Marcelo De Garcia Procopio L. Solidum Lorenzo E. Paredes Zoilo M. Galang Eliseo Quirino Vicente Hilario Rodolfo Dato Carlos P. Romulo The Sea by Natividad Marquez 3. Period of Self Discovery (1925-1941) Conception Marcelo De gracia 1896 by Aurelio Alvero – To a Lost One by Angela Manalang Gloria – Prayer of a Student by Tarrosa Subido SHORT STORY – Dead Stars by Paz Marquez Benitez ESSAYS – The Making of a Writer by Salvador P. Lopez PLAYS – Shadows and Solitude by Claro M. Recto 4. Postwar Re-orientation (1945) POETRY THE MARCH OF DEATH BY BIENVENIDO SANTOS – TO MY NATIVE LAND BY TARROSA SUBIDO SHORT STORY – MY FATHER’S TRADEGY BY CARLOS BULOSAN ESSAY – SHALL WE WALK? BY PURA SANTILLAN CASTRENCE 5. The Rebirth of Freedom (1946-1970) POETRY – WHEN I SEE A BARONG BARONG BY MAXIMO RAMOS SHORT STORY – PLIGHTED WORD BY NARCISO G. REYES – SCENT OF APPLES BY BIENVENIDO N. SANTOS PLAYS – CADAVER BY ALBERTO S. FLORENTINO ESSAY – THEY CALLED IT BROTHERHOOD BY MAXIMO V. SOLIVEN 6. Period of Activism (1970-1972) POETRY – VALEDICTION SA HILLCREST BY ROLANDO TINIO BEGGAR CHILDREN BY EMMANUEL TORRES 7. Peiod of the New Society (1972-1981) POETRY – PHILOSOPHER’S LOVE SONG BY TITA LACAMBRA AYALA – MONTAGE BY OPHELIA ALCANTARA DIMALANTA SHORT STORY – THE TOMATO GAME BY NVM GONZALES ESSAY – I MARRIED A NEWSPAPERMAN BY MARIA LUNA LOPEZ 8. Period of the Third Republic (1981-1985) POETRY – DEATH LIKE STONE BY ALFREDO NAVARRO SALANGA FABLES – THE EMPEROR’S NEW UNDERWEAR BY MYNARD A. MACARAEG – THE CROWN JEWELS OF HEEZENHURST BY SYLVIA MENDEZ VENTURA – THE KING’S COLD BY BABETH LOLARGA 9. Contemporary Period (1986)

Accounts Project 2

Introduction to Financial Accounts Final Accounts Project Topic: – Final Accounts Teacher: – Ms. Reshma Shaikh College: – K. C. College Class: -FYBMS Roll No: – 54 Student Name: – Shabbir Mehta What Is Final Accounts? The accounts & accounting statements prepared by a business concern at the end of the accounting year on the basis of trial balance & additional information to ascertain profit or loss of the business done during that accounting year are collectively called final accounts. Index Page No. . Brief Overview……………………………. …… 3 2-Need & Importance of Final Accounts …………………….. 5 3. Pro Forma of Final Accounts………………………… 6 4. Bibliography …………………………………. 9 5. Thank You Note……………………………………………….. 9 Brief Overview In Final Accounts, two types of accounting statements are prepared, Viz. Trading Account: – Trading account is a part of income statement, prepared on the basis of direct expenses & direct incomes of the business concern.
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Trading account is prepared for calculating the gross profit or gross loss of a business for a given period. Debit balance of trading account indicates gross loss & credit balance shows gross profit. The balance of trading account is carried to profit & loss account. Gross profit is transferred to the credit side of P & L A/C & gross loss is shown on debit side of P & L A/C. According to J. R. Batliboi, “The Trading Account indicates the results of buying and selling of goods.

While preparing this account, the general establishment charges are ignored & only the transactions related to goods are included. ” Profit & Loss Account: -Profit & Loss Account is a second part of income statement, prepared on the basis of indirect incomes & indirect expenses of the business concern. Profit & Loss Account is prepared to ascertain net profit earned or net loss suffered by a business concern during the accounting year. Debit balance of P & L A/C indicates net loss sustained whereas credit balance of P & L A/C shows net profit earned in a business activity.

According to Prof. R. N. Carter, “A Profit & Loss Account is an account into which all gains and losses are considered in order to ascertain the excess of gain over the losses or vice –versa. ” Balance Sheet: -the Balance Sheet is not an account but a statement showing the financial position of a firm, as on a given date in the form of assets & liabilities. On the left hand side of the balance sheet closing balances of all types of liabilities are shown & on the right hand side closing balances of all types of assets are shown.

A. Palmer, has defined the term Balance Sheet as, “A statement on a particular date showing on one side the trader’s property & possessions & on the other hand the liabilities. ” Trial Balance: -Trial Balance is a list of balances of various ledger accounts. It is prepared at the end of the accounting year. It includes all closing balances of various ledger accounts maintained in the book of account of a firm. Thus, Trial Balance is not an account but a statement showing the list of balances of all ledger accounts.

When Trial Balance agrees or tallies, it ensures arithmetical accuracy of accounts kept in the book of accounts. Final accounts are usually prepared on the basis of agreed trial balance. Adjustments: -Adjustments refer to the additional information relating to some items of accounts, given outside the trial balance for considering the same while preparing final accounts. Every adjustment is to be given two effects, under two different account heads, one of which is to be debited to one account & a corresponding credit is to be given to other account.

Need & Importance of Final Accounts (1)To verify and check the arithmetical accuracy of the accounts maintained by the business & thereby to detect mistakes, frauds & misappropriations, if any. (2)To ascertain gross profit earned or gross loss suffered in the business for a particular period, usually in a financial year. (3)To ascertain net profit or net loss made in the business for a particular period, usually in a financial year. (4)To find out financial position of the business, i. e. ssets owned & possessed by the business & liabilities owed to outsiders by the business as well as capital investments made by the owners. (5)To determine the tax payable to the government. (6)To decide whether to continue the business or to give up the business activities or to shift over to some other business. (7)To find out the various types of expenses for comparison with the past year’s expenses. (8)To find out the opening and closing stocks of the goods. (9)To fix a reasonable price of the product by considering its manufacturing cost. 10)To find out the rate of return on the investment to ascertain the earning capacity of the partnership firm. (11)To gauge the efficiency & progress of ht firm’s business through comparison of the past few year’s net profit with the current year’s net profit. Pro Forma of Final Accounts 1. Pro Forma of Trading Account: In the books of ………. ……… &……… Dr. Trading Account for the year ended 31st march, 20….. Cr. Particulars| | Amount Rs. | Particulars| | Amount Rs. To opening stockTo purchasesLess: purchase returns/ returns OutwardsTo wagesTo carriage/carriage inwardsTo factory salariesTo import dutyTo freight To octroi & cartageTo royaltyTo works manager’s salaryTo Gross Profit c/d| xxx(-)xx| xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxXXXX | By salesLess: sales return/returns OutwardsBy goods distributed as free samples By goods destroyed by fireBy goods withdrawn by partnersBy closing stock By Gross Loss c/d| xxx(-)xx| xxxxxxxxxxxxxxxxxxXXXX| 2. Pro Forma of Profit & Loss Account: Dr. Profit & Loss Account for the year ended ………. ……….

Cr. Particulars| Amount Rs. | Particulars| Amount Rs. | To Gross loss b/d(Transferred from Trading account)To salariesTo unproductive wagesTo rentTo insuranceTo postage & telegramTo courier chargesTo printing & stationeryTo repairs & renewalsTo sundry expensesTo commission & allowanceTo advertisement expensesTo goods distributed as free samplesTo bad debtsTo provision for discount on debtorsTo sales taxTo depreciationTo loss on sale of fixed assetsTo loss on by fire/theftTo Net profit (Transferred to capital account )| xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

XXXX| By Gross Profit b/d(Transferred from Trading account)By commission received/earnedBy discount received/earnedBy interest on investmentsBy bad debts recoveredBy provision for discount on creditorsBy sundry incomesBy rent receivedBy profit on sale of assetsBy profit on sale of investmentsBy Net Loss(Transferred to capital account)| xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxXXXX| 3. Pro Forma of Balance Sheet Balance Sheet as on …… …….. Particulars| | Amount Rs. | Particulars| | Amount Rs. Capital A/cOpening Balance Add: Net Profit Less: DrawingsLess: Net LossGeneral ReserveLoan from BankOverdraft Sundry CreditorsBills PayableOutstanding ExpensesIncome received in Advance| xxx(+)xx xxx(-)xxxxx (-)xx | xxxxxxxxxxxxxxxxxxxxxxxxXXXX| GoodwillLand & BuildingsLess: DepreciationPlant & MachineryLess : DepreciationFurnitureLess: DepreciationInvestmentsSundry DebtorsLess: Bad DebtsClosing StockBills ReceivableCash in HandCash at BankIncome Receivable Prepaid Expenses| xxx(-)xxxxx(-)xxxxx(-)xxxxx(-)xx| xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxXXXX|

BIBLIOGRAPHY This project was made by taking information from the following sources: – * FYBMS – Introduction to Financial Accounts Book. * Wikipedia. com * HSC Book- Keeping & Accountancy Book Thank You Note I would like to thank Ms. Reshma Shaikh for giving me this project. I would also like to thank my friends, parents, & teachers due to their inspirations & well Wishes this project is a success.

I would also like to thank all those people who allowed me to learn some of their innermost Secrets. There are no losers in losing, only losers in not wanting to win. – Jesus M. Trejo Hope doesn’t guarantee anything – hard work does. -Reggie Jackson Sincere Thanks, Shabbir Mehta

Disney Strategic Planning Initiative

Any organization would need to make sure it is on solid ground before taking a chance on growth and return. Strategically the initiative would be to build a relationship between three solid areas; sell the strategic need first, operational development, and financial planning. Our team paper will illustrate a strategic initiative for the Disney organization as well as identify an initiative discussed in Disney’s Annual Report. The focus will look at how the initiative affects Disney’s financial planning and explain how the initiative can affect the costs as well as sales within this organization.
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Last but not least, our paper will describe the risks associated with the initiative and financial effects the risks may have to the organization. The conclusion will recap the importance and value of the relationships between the strategic and financial planning initiatives within The Walt Disney Company. Strategic Planning Initiative The Walt Disney Company Annual Report provides financial information with a solid structure plan; to develop a creative market and sell to consumers.

However, a major concern for Disney would include inaccuracies and risk to operate the business. Because of the volatility of the world’s economy Disney cannot always accurately predict the corporations’ future successes or failures. Disney does use a value and risk model (VAR) at a 95% confidence level to estimate the one-day loss in interest rate, foreign exchange, or market sensitive equities. These financial objectives are important because they affect the corporations’ working capital daily.

The goal of this paper is to address the inaccuracies of the projected earnings and create a more confident and accurate process of planning financial gains or losses. When planning the financial outlook for the corporation, the accounting department needs to observe different financial attributes for a past period. They must confidently predict what the change for that timeframe will be. The strategic planning initiative is to determine whether the confidence level will increase to 98% or 99% or should the retrospective financial trends be looked into for a greater period.

Determining what the best route to confidently and accurately predict the financial future is the strategic plan. The Initiative Effect on Cost When a company develops a strategic planning initiative, the company needs to take into account how the initiative is going to affect the costs that drive the company. The Walt Disney Company’s strategic planning initiative is no different. The Walt Disney Company needs to take the cost drivers into account when developing an initiative, specifically the costs that will affect the working capital.

The organization does use the VAR model for the initiative, but if the organization does not develop a financial plan in the strategic planning process, the company will not be able to forecast when an outside source of financing is needed. The costs of the company can rise higher than the sales creating illiquidity. This is from an excess of outside financing (Keown, Martin, Petty, & Scott 2005). By calculating the VAR, the Walt Disney Company will be able to estimate the levels of loss that will occur based on low profitability.

If the organization can use this to take into account an increase in the organization’s sales, Walt Disney Company can predict what the inventory and accounts receivable will be to keep the company going strong. The organization will know when the different projects of Walt Disney Company will need to expand or cutback on inventory, accounts receivables, and investments. The assets of Walt Disney Company will most likely need to be financed, so projecting the organization’s assets level is imperative to the financial strength of the organization.

In addition, The Walt Disney Company takes into account the costs, so the shareholders obtain a vast return (Mayo, 2007). Disney takes into account the borrowing rates when the organization is developing the initiative. By obtaining lower rates, the company helps to reduce the cost of capital creating more of a return for the shareholders (Keown, Martin, Petty, & Scott 2005). The Initiative Effect on Sales A major element in any business is the importance of increasing sales revenue, and Disney is no exception to the rule.

Disney’s strategic plan is to “create[e] great entertainment that people want to experience; using new technology to maximize the quality and reach of that entertainment; and growing the businesses in promising international markets to extend the impact of that entertainment” (Fiscal Year 2010, Report, 2011, p. 3). An ambitious goal; however, Disney has proven capable in increasing sales revenue. Disney witnessed a decrease in sales of about 4%, or $1. 7 billion from 2008 to 2009. By implementing this strategic plan, Disney’s sales performed well with a nearly two billion dollars increase from 2009 to 2010.

As part of its strategic plan, Disney set out to expand, update, and revitalize its brand. Disney expanded and updated its amusement parks and hotels. Blockbuster hits like Tangled and rebooted Tron: Legacy came out in theaters in 2010. To top it off, Disney acquired Marvel Entertainment Inc. , including a collection of some 5,000 Marvel characters. Disney displays one of its greatest attributes entertain in new and innovative ways, translating into increased sales. These increased sales have proven to serve the company well and should continue to serve them well into the future.

Risks Associated with the Initiative and Financial Effects The Initiative and financial risk that Disney currently faces is in intellectual property protection, the recent decline in demand of the products due to the U. S. , Global, and regional economic conditions, changes in consumer tastes, and technology. According to Disney SEC filing 2010 in ITEM 1A: Risk Factor, it states that, for an enterprise as large and complex as the company, a wide range of factors could materially affect future developments and performance.

Therefore, Disney has a risk management department to research, analyze, and produce prevention planning against future risks for existing and future projects. This is administered to obtain an action plan prior to the risk unfolding causing a negative financial impact. Establishing such a plan prior to a devastating result this is put in place to correct the risks to move forward with the development. According to the textbook, Financial Management states, “risks from economic and currency problems abroad can be devastating” (Keown, Martin, Petty, & Scott, Jr, 2005).

Disney’s risk effect in the area of financial initiatives occurred within the reconstructing and impairment charges. The closures totaling $132 million in impairment charges, which consisted of write-offs of capital costs related to film projects that were abandoned such as ESPN Zone locations and studio production facility closures. These establishments are created to increase revenue and resulted in costing Disney quite a bit of money due to the decline in the economy’s health. This was a result of taking a risk with a huge loss.

This is one of the mishaps experienced by Disney; however, it did not cause a business wide closure. Conclusion Within this strategic initiative paper, the focus was on the relationship between strategic and financial planning. The Walt Disney Company stayed focused on their long-term strategy, efficiently managing costs as well as sales to deliver future growth within the organization. The Walt Disney Company, following the vision of founder Walt Disney, has embraced technology change insight of risk and maintained an unwavering commitment to their business, employees, and consumers.

Concerning quality, no name shines more brightly in family entertainment than Disney. . References Financial Management: Principles and Applications, Tenth Edition by Arthur J. Keown, John D. Martin, J. William Petty, and David F. Scott, Jr. Published by Pearson PrenticeHall. Mayo, H. (2007). Basic Finance. Retrieved from https://ecampus. phoenix. edu/content/eBookLibrary2/content/TOC. aspx? assetdataid=19fd9e7c-34ba-4899-be1f-e0b1abd2951a&assetmetaid=4b986427-68cc-4529-b585-c9e333284405. The Walt Disney Company (2010). Annual Reports. Retrieved from http://corporate. disney. go. com/investors/annual_reports. html