The accountant as production scheduler

Article Abstract:

The accounting department of Automatic Feed Co saved the company from losing its largest customer over a scheduling problem. The maker of coil processing systems was in danger of missing the scheduled completion date of a project for its major client because a key project component coming from Germany would be three months late. The client threatened to cancel the order if the project was not finished on time. This disaster was averted when the production schedule proposed by the company's controller was implemented. Following the schedule's success in solving the firm's short-term scheduling problem, the controller was asked to develop a scheduling system that addressed chronic scheduling problems. The accounting department proceeded to make a system that combined the scheduling system, the sales quoting system and 'look-ahead' reporting. The new system boosted Automatic Feed's performance in serving their customers and suppliers.

Special industry machinery, not elsewhere classified, Electronic coils and transformers, Electrical equipment and supplies industry, Electric equipment industry, Services, Scheduling (Management), Calendar, Accounting departments, Automatic Feed Co.

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Financial profile of a management accountant: creating personal wealth

Article Abstract:

A case study of the creation of personal wealth, based on a financial profile of a vice-president of finance at a mid-sized electronics firm, is presented to illustrate the financial planning opportunities available for executives. The case study illustrates the necessity of creating and updating a detailed financial summary of the financial condition of the executive's family in order to identify opportunities for maximizing the family's finances and plan for a comfortable retirement. Strategies for creating personal wealth include establishing custodial accounts under the Uniform Gift to Minors Act to shift income to children, participation in defined benefit pension plans to take advantage of 401(k) plan tax deductions, and participation in incentive stock option plans.

Analysis, Retirement planning, Financial planners, Salary reduction savings plans, 401K plans, Defined benefit plans

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