2012 Annual Summary Simserv-Pitka Enterprises January 2013 Corporate Overview The consumer products industry has seen dramatic change in the last decade‚ due to increasing costs in manufacturing‚ need for innovative products‚ and decrease in brand loyalty. These changes have created the need to modify previous tactics to continue operating in this competitive industry. Acquisition of Pitka Industries In November‚ Simserv completed the process for acquiring Pitka Industries to form Simserv-Pitka
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University On an overcast afternoon in Portland‚ Oregon‚ on Friday‚ March 28‚ 2003‚ Richard Okumoto intently studied a set of hard-copy accounting documents called “adjusting journal entries” spread out on his desk. He had been appointed chief financial officer (CFO) of Electro Scientific Industries‚ Inc. (ESI)‚ a multi-million dollar equipment manufacturer‚ just a few weeks earlier. Okumoto was in the midst of closing the company’s books for the third quarter of fiscal year 2003‚ which ended February
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to the accounting profession. (15 points) The Sarbanes-Oxley Act was passed in 2002 by Congress after a series of scandals involving companies such as Enron‚ WorldCom‚ and Tyco. This was passed because of shady transactions and misrepresented financial data which caused shareholders to lose millions of dollars and their trust in investing in public companies. It was passed to create new rules of accountability and accuracy for public companies. It is important to the account profession because
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Sandwich Blitz‚ Inc. Sandwich Blitz‚ Inc. is a small growing specialty sandwich shop chain in a large metropolitan area. The business is owned by Dalman Smith‚ who is the President and Chief Executive Officer (CEO) and Lei Lee who is the Vice-President and Chief Financial Officer (CFO). The company currently operates eight free-standing sandwich and beverage shops located near three universities‚ one hospital‚ and four high-traffic office complexes in the metropolitan area. The firm serves mostly
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and upgrade the Human Resources (HR) department system was inevitable. With various sites established at various times in the organization’s history the choice to integrate the different systems into one cohesive system was proposed by the Chief Operating Officer‚ Hugh McCauley. This decision to initiate the integration project was a development that came from the disparate tools on hand used by HR in the different manufacturing plants. The proposal to integrate the existing variety of tools into
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introduction about themselves. All team members were asked about their past experiences of being office bearers. All 1.1 Choosing office bearer Discussions and voting were made among the team member in choosing the Chief Executive Officer (CEO)‚ Chief Operating Officer (COO)‚ Chief Financial Officer (CFO)‚ Auditor and Secretary. The office bearers chosen throughout the meeting are Nurun Naqibah Bt. Khishamuddin as the CEO‚ Nurul Syahiroh Bt. Mohd Alfadzirllah as the COO‚ Nur Amalina Izati Bt. Kamarul Bahren
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facilitating and take a strong stand promoting one choice over the other? C. STAKEHOLDERS Shirley Rickert –Chief Financial Officer of HGS Carl Switzer – Chief Executive Officer of HGS Scott Beckett – Vice President‚ HGS Oil and Gas Product Division Walter Albright – Vice President‚ HGS Research and Development Jerry Tucker – Senior R&D Scientist of HGS Brian Hanrahan – Senior Financial Analyst of HGS D. COURSES OF ACTION 1. Shirley should take side with Scott Beckett in not considering
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CEO’s and Upper Management’s Acceptance of over Compensation Are Unethical during Times of Financial Struggle within Organizations Financial Management Abstract This essay discusse s the overpayment of CEOs and the effects these high base salaries have on businesses. Understanding that well compensated CEOs are generally quite productive and well deserving; there are those that seem to drop the ball and the business suffers. CEOs are hired in with contractual compensation packages‚ which
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am proposing to include the following members: • Chief Information Officer (CIO) • Chief Financial Officer (CFO) • Chief Marketing Officer (CMO) • Chief Human Resources Officer (CHRO) • Chief Operating Officer (COO) CFO. Implementing the new system could be costly. Without proper planning and budget for the new system‚ we might encounter funding issue before having the new system in place. The CFO is responsible for the financial stewardship of the corporation. We will need the CFO
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COSO believes this framework will enable organizations to effectively and efficiently develop and maintain systems of internal control that can enhance the likelihood of achieving the entity’s objectives and adapt to changes in the business and operat- ing environments. COSO is pleased to present this Internal Control—Integrated Framework (Framework). Information and Communication Principle 13. Uses Relevant Information The organization obtains or generates and usesrelevant‚ quality in
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