FINA310 Unit 1 IP Template rev1
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American InterContinental University *
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Finance
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Feb 20, 2024
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docx
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Mack Wilson FINA310
Instructor: J Bruce Parker
Date:12/05/2023
1
Introduction
The role of the financial manager is crucial in
every type of organization. Locate a job posting for a
financial manager position from any job recruiting website; for example, websites such as
Indeed.com or Glassdoor.com. In a three-page paper (minimum), please answer the following
questions related to the job description:
Provide the job posting information, such as, company name and job title. Finance Manager - Virtual/Remote
Envision Horizons
Montgomery, AL
1
What are the main responsibilities and the day-to-day responsibilities of the financial manager? What are the soft skills required for this position?
As Finance Director, you would be a key strategic leader at Envision Horizons. • You will be in charge of the firm's financial health, guaranteeing that all operations and divisions run more smoothly.
• You will manage account payables and receivables activities. Create financial policies and procedures to increase operational efficiency. Monitor and manage expenses within the parameters of the established budget. In charge of inventory management and profitability
Culture We Are Remote Now and Forever! : Envision Horizons teams work entirely remotely, and we will NEVER impose a mandatory return-to-office policy! • Accountabilities Principal Responsibilities: Provide advice on all financial aspects of the organization, including developing and implementing financial forecasts and analyzing revenue and costs.
Provide management with monthly financial reporting and financial statement analysis. Determine operational risk factors that may have an impact the organization's performance and present key business insights and recommendations
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Describe the main sources of revenue and major expenses you would find on the income statement related to the company seeking the financial manager?
As Finance Director, you will be a key strategic leader within Envision Horizons. You will be in charge of the company's financial health, ensuring that all operations and divisions run smoothly. Key Responsibilities: Advise on all financial aspects of the organization, including developing and driving financial forecasts and analyzing revenue and costs. Provide monthly financial reporting and financial statement analysis to the management team. Identify operational risk factors that may have
an imp
act on the organization's performance and present key business insights and recommendations Manage account payables and receivables. Create financial policies and procedures to improve operational efficiency. Budget monitoring and management overseeing inventory management and profitability We Are Remote Now and Always!: Envision Horizons teams at work
What obstacles may the financial manager face in the near future related to revenue generation and expense obligations for this type of company?
1
According to Hamad and Jassim(2021), the financial manager may face the following challenges in the near future in terms of revenue generation and expense obligations for this type of company: i. Inadequate funds for expensive new machines and equipment. ii. Inability to pay new qualified employees a fair wage. iii. New laws and regulations necessitate additional funding to ensure the organization's compliance. iv. Potential technological change that could result in the elimination of current jobs or the reduction of current processes. v. Routine spending on production facility maintenance (e.g., heating and ventilation). vi. Failure or delay in securing new business/clients/partnerships, as this will have a negative impact on revenue generation over time; a few months delay in securing a client can result in a loss of several millions of dollars
in annual revenue (assuming 30% of business comes from one client).
Describe two financial ratios likely to be utilized by the financial manager to analyze the company's strengths and weaknesses.
The financial manager is likely to use two financial ratios to analyze the company's strengths and weaknesses: i. Return on Investment (ROI), which is determined by net profit. The percentage will be visible to the financial manager by dividing net profit by total sales or total assets. The greater the percentage, the more profitable an investment is or the greater the value it adds to a company. Return on Assets (ROI) is calculated using total assets. The percentage will be visible to the financial manager by
dividing total assets by net profit. The higher the percentage, the more efficient the company.
1
Conclusion: Perform duties in accordance with the financial policies, goals, and procedures. These are the primary duties of the financial manager. Create or manage the systems that an organization uses to carry out its operations and monitor the efficiency of the management controls over those operations. iii. Spot operational anomalies and request that supervisors or division heads fix them. Make sure reporting systems are sufficient to deliver accurate and timely data for senior management to review. oversee the process of creating the budget. Work with the heads of the divisions to make sure they have enough money to achieve their goals. Check that proposed budgeted expenses adhere to financial regulations. According to Puaschunder (2019), the financial manager's daily duties also include: i. updating the organization's financial policies and procedures as needed. ii. creating reports and financial statements, as
References:
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Knight, D. (2022). Principles of Finance. OpenStax. https://aiu.vitalsource.com/books/9781951693541
Hamad, M. K., & Jassim, A. H. (2021). Compliance with International Financial Reporting Standards, Importance and Obstacles: Experiences of Some Countries. Indiana Journal of Economics and Business Management, 1(1), 35-44.
Hasanaj, P., & Kuqi, B. (2019). Analysis of financial statements. Humanities and Social Science Research, 2(2), p17-p17.
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Related Questions
1. Visit one of the following job sites and find an accounting position that you are interested in:
IndeedLinks to an external site.
GlassdoorLinks to an external site.
USAJobsLinks to an external site.
Zip RecruiterLinks to an external site.
LinkedInLinks to an external site.
Post the job, including the job title, key skills, certifications, and job responsibilities, along with the link to the job post. Share your thoughts on the position and if you would be interested in applying for it.
2. Share your experience as an accounting professional.
Include your job title, key skills, certifications, and job responsibilities. Are you planning to remain in this position after graduation? Why or why not?
3. Visit the Career CenterLinks to an external site.
Review the career planning resources on the site and share what resources you found helpful and how you plan to use them for career planning.
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To
Lance, an HR manager, shares his company's job openings on social media and online job postings
Multipie Choice
perfoma job analysis
recrut from inside the organizetion
recnt from ouIde the orgenizetion
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1-The systematic process of determining the skills, duties, and knowledge required for performing jobs in an organization is referred to as A. human resource planning. B. job descriptions. C. job analysis. D. job specifications.
2- When is job analysis normally performed?A. When an organization begins operationsB. When a new job is createdC. When a job is significantly changed D. On all of these occasions
3-In a work group consisting of a supervisor, two clerks, and four stenographers, how many jobs and positions are involved? A. 3: 7B. 6: 1 C. 7: 3D. 1: 6
4-A comprehensive job analysis approach that concentrates on the interactions among the work, the worker, and the work organization is referred to as A. position analysis questionnaireB. management position description questionnaire. C. guidelines oriented job analysis.D. functional job analysis.
5- A structured job analysis questionnaire that uses a checklist approach to identify job elements is referred to asA. position analysis…
arrow_forward
4-What is the purpose of job posting?
To add challenge to the job
To communicate the fact that job openings exist
To inform employees of job duties
To recruit applicants for training and development.
arrow_forward
Periodically reviewing all jobs is a subtask of O a. developing job descriptions and job specifications Ob. conducting the job analysis O c. preparing for and introducing the job analysis O d. maintaining and updating job descriptions and job specifications
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1. Items that should NOT be included in a job search portfolio include:
A. A copy of your driver's license
B. Work samples
C. Addresses and telephone numbers for your personal references
D. Your high school transcript
2. When job searching keeping the right attitude includes:
A. Positive affirmation
B. Maintain your health
C. Keeping a "to do" list
D. All of these
3. All the following items should be included in a job search portfolio EXCEPT:
A. Work samples
B. Letters of recommendation
C. Your original driver's license
D. Awards and certificates
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Task 2- Service providers1. Based on the company scenario provided above, research the suitability of at least four payroll software products, from different providers, for processing your payroll in-house. Next research the suitability of at least four payroll service providers if you were to consider outsourcing your payroll. You are required to provide a short summary of the providers you have suggested.
2. Research and explain the different payroll lifecycle and software packages selected for two different organisations, one processing payroll for 20,000 employees and another processing payroll for 200 employees, both having a monthly pay frequency. (i) Explain your decision and an estimation of the costs relating to monetary value and time?● Include in your response to this task how you would manage the provider/customer and other stakeholder relationships necessary to influence successful payroll outcomes including delivery, customer care and enquiry handling. Identify the risks…
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Match each job design technique to the statement exemplifying that technique.
Biological
✓ Perceptual
✓ Motivational
✓ Organic
✓ Mechanistic
A. I just finished the Casey project. What should I do now?
B. We are required to wear these special belts when we
unload the trucks at Target.
C. This is the 30th customer I've checked out at Stop & Shop
supermarket today.
D. We have added enough employees so that we are
breaking the human resources function into its own
department. Jack will now focus on compensation and
benefits, and Jill will conduct the training. Latoya will be
responsible for safety and security.
E. Here at Intel, we are going to change your job so that you
can develop new skills and complete entire jobs by
yourself. We're doing this to make the job more
meaningful to you and so that you can do the job the
way you want to and know how you are doing.
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Please read Chapter 2 and then answer the following question
Describe how a job order cost system can be used for professional service businesses.
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Due Jan 26 11:59pm
Module 2 Discussion
Provide and discuss an example of a situation where a company would use a job cost sheet. As part of your analysis, be sure to explain the nature and importance of a job cost sheet.
or
Discuss the advantages and disadvantages of Job Order Costing. Be sure to include specific examples of the advantages/disadvantages that you discuss.
21 Replies, 18
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irko a https//altermativet
SOUCOFFEE Goog.. BCOM2911-Busines Sutan Caboos Univ frading P
TEM (ACADEMIC)
E-LEARNING SERVICES SOU LIBRARIES - SQU PORTAL ATTENDANCE
Question
Which of the following statements related to job cost sheets is TRUE?
15
O a. Individual job cost sheets are used by companies which produce socks.
Not yet
O b. Actual manufacturing overhead costs are included in job cost sheets.
O. Job cost sheets do not normally include the selling price of the job completed.
O d. None of the given answers is TRUE.
answered
Marked out of
0.50
P Flag
question
O e. Ajob cost sheet includes selling and administrative costs.
Question
Which of the following represents the cost of materials purchased but not yet issued to production?
16
O a. Finished Goods Inventory
O b. None of the given answer is correct
Not yet
answered
Marked out of
Oc Work in Process Inventory
0.50
O d. Raw Materials Inventory
P Flag
question
O e. Cost of…
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