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Accounting 242 Project

Accounting 242 Project. Group 2: Siqi Li Connor Caruso Ryan Maack Lindsey Koppy Michael Fischer. Identity Sign Group. Materials/Labor tracking Microsoft Excel Time cards Profitability Done by operating income Occasional losses due to misquotes, etc. Budgets

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Accounting 242 Project

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  1. Accounting 242 Project Group 2: Siqi Li Connor Caruso Ryan Maack Lindsey Koppy Michael Fischer

  2. Identity Sign Group • Materials/Labor tracking • Microsoft Excel • Time cards • Profitability • Done by operating income • Occasional losses due to misquotes, etc. • Budgets • Done by “running tally”

  3. Identity Sign Group • Investment Decisions • Real Estate • New/updated equipment • Performance Rewards • New leads • Christmas bonus • Company Culture

  4. Identity Sign Group-- Suggestions • Implement a set budget • Allows for financial forecasting • Establishes constraints • No real drawbacks • Take more care with mixing Personal and Corporate finances • Working so far, but could be an issue in the future • Blurred line

  5. Cambridge Publishing • PICTURE

  6. Cambridge Publishing Revenue & Expenses • Most of the revenue is selling text books to professors/educators/schools • Marketing technological based learning interface E-books Online Homework • Used books, rental stores, online sources affect sales   • Royalties

  7. Cambridge Publishing Direct Labor Employee Rewards Programs

  8. Cambridge Publishing • Investment Decisions • Recently purchased a new building • Outsourcing • Budgets • No set budget system in place

  9. Cambridge Publishing Suggestions • Implement an effective budgeting system • Plan for growth • No real drawbacks • Move from a call center model to a Sales Meeting model • Targets resources to use more effectively • Significantly higher overhead involved

  10. Comparison • Identity Sign Group • Custom Orders • Performance Evaluation • Capital Investment • Lack of Budget • Self Manufacturing • Cambridge Publishing • Special Orders • Performance Evaluation • Capital Investment • Lack of Budget • Outsourcing

  11. Questions • If Identity Sign Group part of larger corporation and needed to be evaluated, would ROI or RI be more useful in general? Why? What are the benefits and drawbacks of each method? • How might the advent of E-Books affect Cambridge Publishing with regards to material, labor, and overhead?

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