SEL 531 Week 1 Assignment Paper

1122 Words3 Pages
bulb-icon

Recommended: Cash management and its objectives

Assignment-1 PA2

Question 1: a 3 b 1 c 3 d 3 e 1 f 4 g 4 h 1

Question 2 Memorandum
To: Alfonso and Leo, Owners, SEL
From: Me, CGA, Controller, SEL
Date: September 16, 2014
Subject: Current Issues
This memo will address the main issues currently SEL facing and will provide recommendations where applicable.
Lack of cash management:
As SEL owners has no involvement in financial matters, SEL hired a part time accountant who has no experience to prepare financial analysis or forecasts. This has raised the issue of cash shortage. …show more content…

For companies like SEL where the risk is associated with the life of employees, it is necessary for the employers to pay insurance premium, as personal coverage of employees is not sufficient in case of any mishappening. If we ignore these payments, it would be unethical, as it is not certain that no accident will happen in future. As SEL’s new contract requires complex effects that may involve higher risk of accidents. If SEL failed to pay future payments and if any accident occurs, SEL would end up with paying higher premium and delay in projects completion. One more concern is that if new clients find out that SEL has no insurance coverage in place, it could have negative impact on SEL’s …show more content…

So SEL is considering to adopt accounting software that can manage these daily complex transactions easily.SEL has three options of vendor A, vendor B and vendor C package. Each package has additional feature better than the other. Some features are same in three packages: bank conciliation, account payable, account receivable and payroll. Alfonso preferred the package C because of social media but this is not needed because SEL is already utilizing this feature to attract foreign clients. With the growth of business, more employees are required. Leo is suggesting package A with HR function that can be used to prepare employee reports, time-off and benefits. All these packages have payroll function that can fulfill required

Show More
Related

  • Hrm 531 Week 9 Final Paper

    670 Words  | 2 Pages

    Departmentalization base is the big plan by which jobs are grouped into units.in facts few organization show only one departmentalization base. The most common bases are function, product, location, and customer. The decision to use many bases is usually based on the specific needs of the corporation and on the strong

    Read More

  • Week 2 Assignment 1

    630 Words  | 2 Pages

    According to Muller, Prowse, and Soper (2012) the procedures to remove and replace a power supply are;

    Read More

  • English 111 Unit 1 Assignment

    886 Words  | 2 Pages

    The audience for writing project one: summary and response will be my classmates and my instructor, Avon Waters. I am writing this for English 111 – an online Ivy Tech college course. This is the first writing project of four for semester one. The assignment is to select a core reading resource from the group listed and perform a summary and response style paper, using proper APA formatting and introducing the concept of a situation analysis. The core reading piece I have selected is one that personally interested me, as it deals heavily with history and facts versus opinions and controversy. This will be in APA format, as with every other paper written in this course. My goal with this paper is to offer additional insight into the piece I

    Read More

  • Nt1310 Unit 9 Term Paper

    569 Words  | 2 Pages

    -A monthly claim report lists all claims the insurance carrier has denied or not paid by the required time limits set by the state. It also has a listing of detailed information about the claim itself to better identify the exact claim listed. The monthly claim report is necessary for reimbursement because they must be sent to an auditing team to make sure the correct attention to the overdue claims so that they are paid and if not paid the provider should be send a notice on why the claim is not being paid or why the provider is going to be receiving a partial payment. This is called a remittance advice sent to the providers office so that they claim may be edited and resubmitted.

    Read More

  • Nt1330 Unit 9 Final Essay

    598 Words  | 2 Pages

    This essay answers two questions. Question one is to describe the methods and tools used in scanning and enumerating system and network targets and how one can use the results during the rest of the penetration test. The second question concerns what is the favorite tool that this student learned about in this class, how one uses it and an explanation of why and how it enhances one’s ability to conduct a penetration test.

    Read More

  • Hrm 531 Week 9 Final Paper

    1251 Words  | 3 Pages

    Raytheon (Raytheon Company) is one of the world’s leading defense contractors supplying both state-of-the-art (SOA) military and industrial grades of electronic components, ordnance, training programs, in addition to mission system integration (MSI&T) services. Raytheon’s electronics section provides equipment with the functionality of effectively degrading, disrupting, and eliminating rival computer hardware. Weaponry developed through Raytheon are manufactured not only to include significant precision, but to additionally be as effective as possible by furthermore constraining any collateral damage. As a technological innovative industry leader, their perception is “To be the most admired defense and aerospace systems company through their world-class people, innovation and technology.” (Raytheon Company, 2014)

    Read More

  • Novaris Pharmaceuticals Case Study

    738 Words  | 2 Pages

    or this action step, it is necessary to start this transformative process immediately so that the new software upgrade is centered around this change. You, the CIO, should recommend this decision as it falls under your domain, and the end decision shall be improved by the individual CEO. Jane Simpson, head of accounts payable and materials procurement should be consulted as this re-design shall directly affect her department. The rest of the department team and well as business information managers should be informed of this decision. F

    Read More

  • Health Payroll Executive Summary

    1885 Words  | 4 Pages

    Number of customisations have been made to the system which creates complexity. A historical and current focus on resolving critical issues and improving system performance: Payroll program focuses on resolving symptoms which can affect the payroll system performance, there has been a 'bottom up’ focus for resolving issues. Strategic significance of resolving key remaining questions regarding the go forward plan for the technical payroll system: KMPG suggests that that more analysis is needed for QH's assessment, in order for system's up gradation and reimplementation, significant importance is given to deliver the payroll on fortnight basis.

    Read More

  • Consumer and Industrial Products Inc Case Study

    1065 Words  | 3 Pages

    The Consumer and Industrial Products, Inc a company where their headquarters is based in the United States , also doing business internationally with facilities in Europe, Asia and South America. They are a manufacturing company what produced well known products to individuals and industries. This company is experiencing a great deal of trouble with their internal Payable Audit System (PAS) and how it would purchase goods; receive goods and pays for them. They are challenged with the redundancy and the lack of productivity to their system. They were finding ways to lower costs and eliminating steps in how these processes are getting accomplished. They decided that they needed to change their system and the way they did things at their business. There are some people, their roles and departments that will be closely involved with the process of this project. Some of these important roles will come from Ted Anderson director of disbursements, Peter Shaw the user project manager and Linda Watkins project director for the Payable Audit System (PAS). In addition, the Steering Group and the IS management department will have some important roles to the project too. Finally, there will be several major problems with the development of the project and how the one person would deal with these issues.

    Read More

  • Canadian Insurance

    509 Words  | 2 Pages

    Therefore, this salary with commission expense plays an important role when it comes to costs which adversely affects insurers competitive pricing schemes. Consequently, insurance companies need to compete on wages. The P&C industry wage average is estimated at roughly 15% of revenues. Thus, it is obvious that insurance companies rely heavily on employees for the sale and underwriting of their products and services. Although insurers highly depend on their labor force, the top businesses are gradually investing on innovation in order to decrease reliance on a large work force and increase employee productivity to

    Read More

  • Questions and Answers: Loss Prevention and Loss Reduction

    810 Words  | 2 Pages

    For the contrary the loading change (fee to cover the incurred administrative expenses) can be expensive. Also, the insurance sometime fails to meet demand providing limited protection, this insurance shortage can lead to ineffective insurance regulations. As well as, for consumer with minimum loss experience, their premium will be high, because their probability of loss is high.

    Read More

  • An Accounting Problem

    1182 Words  | 3 Pages

    The requirements and cost benefit analysis took several months to complete and a final decision would not be made until 18 months after the initiation of this project. The end result of the requirements and cost benefit analysis concluded that it was most beneficial to our business partners to build our own accounting engine; however this was not the elected solution.

    Read More

  • Advantages And Disadvantages Of Jit

    1002 Words  | 3 Pages

    Another effective way to reduce risk is for companies to purchase business-interruption insurance. This type of insurance used to be generally easy to obtain. Today, insurance companies require a lot more information before providing the service to companies. Not only do they require more information on a company's suppliers, the insurers also require that you have a list of multiple suppliers that, if an isolated disaster or accident occurs, wouldn’t all be affected. Companies need to maintain their JIT processes, eliminate redundancies, and at the same time keep a minimum number of suppliers to minimize risks.

    Read More

  • Life Insurance And Actuarial Science

    774 Words  | 2 Pages

    Insurance company is an investment company that plans on making profits and avoiding losses. In this case of a contract the company takes a risk that may lead to great losses. For this reason, the insurance company requires to make great risk analysis of the same contract to minimize the risk it undertakes in the contract. It also requires analyzing investments in the industry and thus taking the best investment that maximizes the returns of the premium paid by the insurance holder.

    Read More

  • Cash Management

    1080 Words  | 3 Pages

    Maintaining a company’s financial assets is a daunting task. Cash management techniques and short-term financing provide accounting executives with the tools needed to survive the constant changes within the economy. The combination of these tools and the knowledge of the world economy will assist companies in maintaining current assets and facilitates growth.

    Read More

More about SEL 531 Week 1 Assignment Paper

Open Document