BSA 500 Entire Course Imagine you are starting a new business, expecting to have about $100,000 in personal or family capital and another $200,000 borrowed, say from a bank, Small Bus Admin (federal government) or an angel investor. How would you form this business venture (i.e. structure as per text Chapter 5)? Defend your choice! Consider the business you chose for DQ1, and that you are almost ready to launch the business; including yourself (as a working owner) and three of your most important subordinates, describe each’s role in management (if any) and why you made that choice, considering the four basic functions of management discussed in Chapter 7 of the text. Consider economics at large (or macroeconomics, as explained in the text) and describe what you learned that you believe to be very important economic influences on your existing (or contemplated future) business/firm. Then, comment on the current economy and comment on how that impacts both the evolution of IT and also the health of businesses in the IT provider world. What does an IT manager (or any manager charged with making IT decisions) need to focus on in today’s economy? What are the implications of both the global economic structure differences and different global laws for IT managers in global businesses? (or for U.S. businesses that sell to global customers). After reading the text and considering your own organization (or another one you are very familiar with), describe the needs of the accounting department as to data gathering/reporting/controlling functions of accounting. (You might want to consider interviewing or talking to either accounting professionals in your organization and/or IT developers with knowledge on same.) Be detailed and specific; for example, if property and asset accounting are very important in your line of business, focus on those particular needs and explain why that functionality is so important. Then, consider whether the existing IT application(s) are fulfilling that need for the organization. Maybe even describe the application software in more detail. Considering your knowledge from the DQ5 discussions (both what you learned in your own research and what you learned from others), describe some of the commercial accounting software applications on the market that would provide the functionality identified by you (and others) as very important for your organization. Given the business you are in (or perhaps one you want to be in), what are the key financial ratios for your industry? Specifically
(if you can), give the real ratio and your interpretation of same. Also, how would you find averages for your business so you can compare your organization to others in the same business. (N.B. you have to do this for an assignment also.) While they have their limitations, for well over a hundred years, we have used a number of core financial ratios to analyze business. While these can be easily created with some simple math from core financial statements, there are many front-end application systems that also do that work for you and can present the information in a ‘dashboard’ style to managers. Comment on these applications: would you create your own? Using what? What commercial systems are out there? Have any experience with them? Can you contribute to the class by researching some of them? Now that you are begining to understand and the use of financial ratios, consider and comment on below: 1. Are they 100% reliable for significant business decisions? 2. How important is history? 3. Which ratios most make sense in a historical perspective? 4. Which ones are important regardless of history? 5. What, if anything, might they tell us about the need for information systems? What have you learned about the potential variations in key financial ratios according to the industry? Now that you’ve done some Research over the last few weeks on sources for company and industry information, describe how best to stay current with IT applications and technology for use in the finance and accounting world. For any links you report about, be sure to post the hypertext links for the benefits of your fellow students. Also, be sure to use the University’s extensive library for some of your sources. You can include general financial sources, like EDGAR, or specific industry segment sources, or varied government sources (Like U.S. Dept of commerce,federal Reserve, Banks, etc.) and you should include industry organizations, like the National Retail federation (NRF). BSA 500 Week 2 Individual-Virtual Organizations Table – Part I BSA 500 Week 2 LT Project-Introduction to Riordan Manufacturing BSA 500 Week 3 Individual- Virtual Organizations Table – Part II BSA 500 Week 3 LT Project-Riordan+Manufacturfacturing Accounting Modules BSA 500 Week 4 Individual-BalanceSheet & Income Stmt Commentary BSA 500 Week 4 LT Project PPT Draft-Riordan Manufacturing Account Software Modules BSA 500 Week 5 Individual-Financial Ratios BSA 500 Week 5 LT Project Final PPT- RoirdanManufacturing BSA 500 Week 6 LT Project Final LT Paper- Riordan