Year 2000 problem: is your company exposed?
Article Abstract:
The Year 2000 problem is expected to wreak havoc on computer systems around the world. Companies that do not address this potential disaster immediately may find themselves saddled with litigation papers and accruing huge losses, which may threaten the survivability of their business. Businesses that do not disclose the costs of their Year 2000 compliance may be exposed to directors' and officers' liability. Because auditors may deny to provide their unqualified opinions, companies may be prevented from trading on an exchange and suffer from a lowered credit rating. In addition to these exposures, companies may also have to face class action suits filed by customers and employees for failure to open for business by the Year 2000. Finally, product liability may also arise because certain manufactures contain embedded chips that are also affected by the Year 2000 problem.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1997
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Shanghaied! It was a culture shock when a small Ohio company began exporting its machinery to China
Article Abstract:
Automatic Feed Co.'s first export contract was an order to deliver its coil processing equipment to Qing Ling Motors of China by Dec. 1992. The family-owned company based in Napoleon, OH, encountered many problems before it successfully completed delivery of the equipment ordered. Among others, transportation delays, pricing and payment uncertainties, design problems and slow contract negotiations plagued the deal. In the end, however, Automatic Feed fulfilled its end of the export contract. Since then, the company has gone on to win other export contracts from automakers in Germany and Japan and is now an enthusiastic advocate of the export process, which it decribes as risky but profitable.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1995
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