Riordan Finance and Accounting - 4108 Words

Running head: RIORDAN FINANCE AND ACCOUNTING Riordan Manufacturing Finance and Accounting System University of Phoenix BSA/500 Ms. Deborah Webb Week 6 Team Assignment 17 November 2008 Investment in the rubber and plastics industry requires serious analysis of a number of key corporate behaviors. To evaluate Riordan’s Finance and Accounting Systems, knowledge of their industry and line of business is necessary. Economic influences affecting their operations and business strategy must be considered as well. An examination of Riordan’s accounting system and modules is provided followed by calculations of their liquidity, profitability and activity ratios. The pecuniary data, along with historical information, is evidence to their†¦show more content†¦This suggests that financing to expand operations, replace equipment, or other purposes, should be secured soon. The present monetary policy of the Federal Reserve is contracting and decreasing the total money supply to stave off inflation. High oil prices, the weaker dollar and decelerating labor productivity are contributing to rising inflation. The inflation rate forecast is estimated at a rate less than 3.00%; however, the Federal Reserve will work to limit inflation in combination with a strong retail market. The unemployment rate was only 5.50% last year and will improve slightly to 5.20% in both 2005 and 2006. A large trade deficit in the U.S. trade balance will lead to the dollar/euro currency exchange rate of 1.25 dollar to the Euro. This data indicates positive economic conditions for Riordan. Opportunities to leverage relatively low interest rates into new investments will allow Riordan to enter new markets and increase productivity. This forecast provides the basis to meet the firm’s sales goals. Riordan Manufacturing’s Accounting System and Modules Each Riordan location has separate, customized financial and accounting systems to accommodate each location. However, the current systems are expensive and time consuming to code, test and patch. These systems have integration and compatibility problems and were not developed to function together. Current financial software has become extremely sophisticated. EnterpriseShow MoreRelatedRiordan Manufacturing Accounting And Finance Review Essay706 Words   |  3 PagesRiordan Manufacturing Accounting and Finance Review The Finance and Accounting departments within the three operating entities of Riordan Manufacturing are vastly different. Each is managed independently, not only of each other but of the corporation sector as well. The Georgia, Michigan and California branches operate different business systems for their ledgers, accounts, orders, procurement, sales history, invoicing, payroll and all financial reporting. The process to get this informationRead MoreRiordan Manufacturing Business Systems Analysis Essay726 Words   |  3 PagesRiordan Manufacturing Business Systems Analysis Riordan Manufacturing Business Systems Analysis Dr. Michael Riordan, a professor in chemistry, acquired several patents relative to processing polymers into high tensile strength plastic substrates. He knew there was a market for commercial applicants for his patents after so he started Riordan Plastics, Inc. in 1991 at the age of 45. Today, Riordan Manufacturing, Inc., owned by Riordan Industries is a Fortune 1000 enterprise with revenues in excessRead MoreRiordan Manufacturing IS Upgrade Essay1673 Words   |  7 PagesRiordan Manufacturing IS Upgrade Executive Summary IS updates at Riordan Manufacturing are necessary to meet future goals. We would like to be your partner, helping you reach the $50 million dollar revenue target. 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Currently, Riordans COO, Hugh McCauley, and the executive team have requested changes to the current information system used to maintain inventory and manufacturing processesRead MoreRiordan Manufacturing Presentation Rough Draft1371 Words   |  6 PagesRiordan Manufacturing Presentation Rough Draft Introduction The Executive leadership of Riordan Manufacturing Company are visiting next week and our team has been asked to prepare this six page paper that goes along with the presentation as the initial rough draft of the company’s financial state components of the financial system and the required systems that will talk to the company’s financial system. Riordan Manufacturing Riordan Manufacturing is a worldwide plastics manufacturer employing more