Case Study-AW-Q241 online

Case Study-AW-Q241 Online Services

Instructions for the Final Draft

Your friend, Mike, has just purchased a business. Because Mike knows that you have just received your Associate’s Degree in Accounting, he has asked for your help in evaluating the firm. Mike is not asking you to make a decision for him; he just wants you to help provide him with facts as you see them.
Your task is to analyze the business and report your findings to Mike. Be sure to tell Mike everything that you can think of that will aid him once he takes over ownership from the seller. Tell him what he will need to deal with in terms of setting up his new business, and the challenges that he will face. Remember, this is your good friend, and you want him to succeed in this new venture. You will present Mike with a report with the following structure. Remember, the Final Project is required to have the following structure

Coversheet
Executive Summary
Regulations
Management
Finance and Accounting
Financial Statements
Problem Solving

The Coversheet should contain the title of your report, the date of submission, and your name. The
Executive Summary should provide an overview of your findings. After the Executive Summary, you will explore the five different areas of Tim’s business. For each of these areas, you will provide adetailed report that contains a title, summary, and action items.

Title of Subsection: Name of the business area (Regulations, Management, Finance and Accounting, etc.)
Summary: Provide a detailed summary of what you observed in this particular area of the business.
Describe any strengths and weaknesses.

Unit 9
Action Items: Based on your analysis, detail for Mike what he will need to do once he takes ownership of the business. Your recommendations should contain detailed directions of what needs to be done and when. Also, you should defend your recommendations by providing references that support your ideas.

Project containing

Coversheet: Title, date, name
Executive Summary: overview of findings
-Regulations: Summary & Strength
and Weaknesses
-Management: Summary & Strengths
and Weaknesses
-Finance: Summary & Strengths and
Weaknesses
-Accounting: Summary & Strengths
and Weaknesses

 Analysis/Critical Thinking: Action items: What does Mike need to do,when and why? 30% 63

 Writing, APA citations & references,spelling and grammar 20% 42 100% 210

Your Project Score

These are the requirements and issues of the Coffee Shop that needed to be addressed. Please follow to answer all requirements

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Defining Problem

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Related Services

Executive Summary

Regulations
Summary
Regulations Issues in the simulation

 Employment eligibility forms
 Bulletin board
 Organization of the store room
 Regulations Issues in the simulation

 Timecards

 Obscured Legal Posters

 Bulletin Board

 Federal 940

 Income Tax

 Training Notices

 Inspection Certificates

 Employment records incomplete

 Organization of Storeroom

Action Items

 Employment eligibility forms – These forms should be filled out correctly, and verification of employee’s documents.
 Bulletin board – This should be cleaned out regularly.
 Organization of the store room – Store room needed better organization and follow OSHA regulations consistently.

 Regulations Issues in the simulation

 Timecards

 Obscured Legal Posters

 Bulletin Board

 Federal 940

 Income Tax

 Training Notices

 Inspection Certificates

 Employment records incomplete

 Organization of Storeroom

Management Summary

 Management Issues
 Cash Register
 Overall ambiance

 Marketing Surveys
 Hours of Operation
 Bus Schedule

 Stage and Equipment for Live Music
 Jennas Bakery Exclusive
 Customer Comment Cards

 Staff Drawer -Review Dates
 Staff Drawer -Warnings
 Marketing Surveys

 Employee Issues
 Typewriter
 Employee of the month

 Employee Comments
 New Freezer Warranty
 Overall ambiance

Action Items

 Overall ambiance – This needs improvement. “ Tell how it can be achieved”
 Marketing Surveys – These are important way of improving the standard. “ Tell how it can be achieved”
 Hours of Operation

 Bus Schedule
 Stage and Equipment for Live Music
 Jennas Bakery Exclusive

 Customer Comment Cards
 Staff Drawer -Review Dates
 Staff Drawer -Warnings
 Marketing Surveys

 Employee Issues
 Typewriter

Finance and Accounting Summary

 Finance and Accounting Issues
 Cash Registry
 Cash Only Sign
 Competitor Pricing

 WIFI
 Cash Only Sign
 Buy 10 Promotion
 Competitor Pricing

 WIFI to increase revenue
 Unopened Computer Boxes

Action Items

 Cash Registry
 Cash Only Sign – Accepting Debit or Credit Cards would give possible increase in revenues.
 Competitor Pricing – Maintain lower prices than the competitors.
 WIFI – Offering free access to WIFI would invite more customers.

 Cash Only Sign
 Buy 10 Promotion
 Competitor Pricing
 WIFI to increase revenue
 Unopened Computer Boxes

Financial Statements

Summary
Problem Solving Section Issues

 Working Costs
 Marketing Strategy
 Newspaper ad-was the purchase a good deal

 Expand business
 How would he do this?
 Costs?
 Where?

 Buy or lease a building?
 Make improvements/changes to personnel
 What are costs involved?
 Income Statement errors-Depr Exp on IS does not match BS and Supplies Expense, not using COGS

 Balance Sheet errors- BS should have Owners equity not Stockholders equity

 Payoff Ref. loan with excess cash to save interest

 Missing statement of cash flow and statement of owners equity

Action Items

 Financial Statements – Income Statement, Balance Sheet, and Profit and Loss Statement. The company needs help from professionals, like accountants to research fully the transactions made, and other accounting issues.

 Working Costs – These costs could be diminished. Needs to balance salaries of employees, and supplies expenses.
 Marketing Strategy – Intensify advertisements.

 Newspaper ad-was the purchase a good deal
 Expand business

 How would he do this?
 Costs?
 Where?

 Buy or lease a building?
 Make improvements/changes to personnel
 What are costs involved

 Income Statement errors-Depr Exp on IS does not match BS and Supplies Expense, not using COGS

 Balance Sheet errors- BS should have Owners equity not Stockholders equity

 Payoff Ref. loan with excess cash to save interest

 Missing statement of cash flow and statement of owners equity

Product Code-Case Study-AW-Q241

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Summary