Abstract
This paper evaluates the financial position of Wendy's International Corporation, a fast food restaurant, by comparing it to the financial position of McDonald's Corporation. This author reports that Wendy's income performance, while strong, is substantially inferior to that of McDonald's; and, in this area more than any other, Wendy's needs to improve if the corporation is to narrow the gap. This paper states that McDonald's has a substantially higher inventory turnover and holds less than half as many days in sales than does Wendy's.

Table of Contents
Executive Summary
Financial Position
Income Performance
Short-Term Liquidity
Long-Term Solvency
Asset Management
Profitability
Market Value

List of Appendices
Common-Size Balance Sheets McDonald's Corporation
Common-Size Balance Sheets Wendy's International
Combined Common-Size & Base-Year Balance Sheets McDonald's Corporation
Combined Common-Size & Base-Year Balance Sheets Wendy's International
Common-Size Balance Sheet Wendy's International With Baseline Comparison
Common-Size Income Statements McDonald's
Common-Size Income Statements Wendy's
Combined Common-Size & Base-Year Income Statements McDonald's
Combined Common-Size & Base-Year Income Statements Wendy's
Common-Size Income Statement Wendy's With Baseline Comparison
Short-Term Liquidity Ratios Wendy's With Baseline Comparison
Long-Term Solvency Ratios Wendy's With Baseline Comparison
Asset Management Ratios Wendy's With Baseline Comparison
Profitability Ratios Wendy's With Baseline Comparison
Market Value Ratios Wendy's With Baseline Comparison
Du Point Analysis Wendy's 1998

From the Paper
"With respect to short-term liquidity, Wendy's compares well in relation to McDonald's (refer to Appendix B-1). The reason for the Wendy's advantage lies in the corporation's decision to keep such a high proportion of assets in a current status. This strategy is not conducive to the most productive use of the corporation's assets.

"In relation to debt ratios, Wendy's is superior to McDonald's (refer to Appendix B-2). In this area, Wendy's also is superior to McDonald's in relation to interest coverage, as the corporation uses borrowing very little in comparison to McDonald's."

Tags:performance, income, turnover, comparison, liquidity, assets

Abstract
This paper focuses on two large retailers in the area of retail home improvements, Lowes and Home Depot, and compares and contrasts their financial ratios in a five-year trend table along with the most recent industry averages. The information presented in this report can be used to help determine the over-all financial status of these two companies.

Financial Ratios Used
Home Depot
Lowes
Efficiency Ratio Analysis
Liquidity Ratio Analysis
Leverage Analysis
Profitability Analysis

From the Paper
"The inventory turnover ratio shows how many times per year a business can turn-over its inventory. In other words, this number represents how many times the business sells out of its inventory in a given year. This ratio is calculated by taking the cost of goods sold and dividing it by the average amount of inventory the business carries. Notice that these ratios are determined by the cost of goods sold because the inventory figures are carried on the boots at cost, not the price the merchandise will eventually sell for (Brealey, pg. 142). When comparing Lowe's and Home Depot to the industry average, we see that both companies' ratios were 5.0 for the year 2003 and the industry average was 4.8. This means that for the year 2003, both Lowe's and Home Depot were able to turn over their inventory a bit faster than the industry as a whole. "

Tags:capacity, debts, due, profit, do-it-yourself, warehouse, home, improvement, assets

Abstract
This paper provides some research into "Positive Accounting Theory" and how it impacts on the economy. The paper begins with an explanation of the theory itself and then offers some statistics and findings regarding the consequences of its use by management.

Contents:
Introduction
Explaining the Theory
Economic Consequences
The Development of Positive Accounting Theory
How Positive Accounting Theory Operates
Management Decisions
Watts and Zimmerman
Research and Findings
An Example of a PAT study
Conclusion

From the Paper
"Positive Accounting Theory and the doctrine of economic consequences helps us to understand why different firms choose different accounting policies, why some managers may object to changes in these policies and why investors may react to the potential impact of an accounting policy change. Accounting policy choices have economic consequences for the various constituencies of financial statement users and though complicating the setting of accounting standards, the source of the pressures driving the process can be explained by the development of a positive theory of the determination of accounting standards."

Tags:choice, policy, management, business

Abstract
This paper examines the financial condition and performance of the Boeing Company, a publicly held company for the year 2001. Annual reports filed by Boeing in accordance with the General Accepted Accounting Principles and Securities and Exchange Commission regulations serve as primary data sources. Industry average financial ratios, outlook, and data are used to gauge Boeing's financial status. Recommendations are presented based upon analysis, generally accepted management practice and research.

From the Paper
"The terrorist attacks on the World Trade Center caused a major negative economic effect throughout the United States and the world. Airlines were severely impacted do to a sudden and huge drop in passengers (Siegel, M., p. 551). Air travel has still not fully recovered from this catastrophic event. The resultant drop in commercial jet orders has hurt Boeing (Friedman, p 13). In the third quarter of 2001, Boeing experienced a 46% decrease in orders compared to 2000 (Friedman, p. 19). The commercial aircraft segment accounted for about 60% of Boeings revenues before September 11 (Standard & Poor s, 2002, p. 2). Deliveries for aircraft are expected to be 380 for 2002 vs.527 in 2001 (Siegel, M., p. 551). As reported in the 2001 Consolidated Statement of Operations, Boeing recorded a $935 million charge for special charges due to events of September 11, 2001 (Boeing, p. 35). "

Tags:accounting, aerospace, aircraft, analysis, boeing, defense, financial, finanical, ratio

Abstract
This paper explores the accounting malpractices within the Andersen Firm. The paper discusses the functions and duties of the firm and the history of the company. The writer describes recent events including the Enron case and a myriad of other cases, accusing Andersen of misleading investors. The paper also examines whether or not the Author Andersen auditing firm is a trustworthy firm to do business with.

From the Paper
"Anderson contracted with the Enron Corporation to perform its audits and provide the audit opinion. The firm performed this task for over ten years and charged Enron almost $48 million in fees in the year 2000 alone. It is believed that Andersen hid the fact the Enron used questionable accounting practices to hide huge losses that Enron had incurred. Andersen has admitted that employees destroyed evidence that exposed the shotty accounting practices."

Tags:auditing, malpractice, enron, consulting, negligence, investors, financial

Abstract
This paper examines activity based costing (ABC) which is an effective business management tool that will enhance and support a total quality management (TQM) environment. ABC analysis provides the information necessary to make business decisions such as determining if investments in efficiency initiatives, such as just in time (JIT), are warranted. When implementing ABC, management should use proven project management methodology to minimize the risk of failure. ABC is an effective total quality management tool, and supports just-in-time manufacturing methods in several companies as detailed in the paper.

From the Paper
"After developing ABC in the 1980's, Robin Cooper and Robert S. Kaplan have written extensively about its benefits (Shih-Jen & Holinda, p. 46). ABC is defined as a "costing system that identifies the various activities performed in a firm and uses multiple cost drivers, to assign overhead (or indirect costs) to products" (Siegel and Shim 2000, p. 15). ABC seeks to accumulate and allocate factory overhead costs to products (or services) by using focused drivers, such as, quality inspecting, moving, assembly, and matching (Warren, 2002, p. 328). Proponents of ABC cite many examples where cost accuracy is superior to traditional costing methods that use cost bases such as units produced, labor, or machine hours used (Warren, p. 421). "

Tags:9000, ABC, accounting, activity, based, costing, customer, ISO, JIT, manufacturing, quality, service, TQM

Abstract
This paper discusses the birth and development of accounting over time. The paper discusses the Generally Accepted Accounting Principles (GAAP) and the way in which the the U.S. accounting profession has been a self-regulated industry. The paper then examines the Worldcom fraud scandal and how this, along with other large-scale accounting fraud scandals, cast doubt on the profession's ability to regulate itself.

From the Paper
"The Worldcom penalty, at $2.25 billion was one of the highest penalties ever obtained by an SEC enforcement action. Recently WorldCom outside directors agreed to pay an additional $18 million out of their own pockets (Scannell, 2005). It is obvious that the efforts of regulators and prosecutors are sending a clear and concise message to the professionals within the business community. Bishop, President of the Association of Chief Fraud Examiners (ACFE) says "It's a crime-not just aggressive accounting-and that individual [the controller] should not be aiding and abetting in a felony" (Sweeney and Marshall 2003, 20). If executives and corporate wrongdoers lied and committed accounting fraud in the past because they did not think they would get caught or they did not fear the punishment, this new environment should certainly make them think twice now."

Tags:penalty, insurance, CEO, ACFE, controller

Abstract
Social media and Web 2.0 both refer to a modern form of media designed to disseminate information through social interaction which enable people to collect, share, discuss and productively use more sources of information such as images, audio and video. This case study proposes an IT plan for an architecture firm which will allow the company to take advantage of current opportunities in social media technologies.

Table of Contents:
Executive Summary
Introduction
Methodoloty
Company Analysis
Company Background
Goals/Future Plans
Current Processes
Current Technology
HR/Marketing
Communication/Collaboration
File-Sharing/Backup
Accounting
Underlying Issue
Limitations of Current Technology
HR/Marketing
Communication/Collaboration
File-Sharing Backup
Accounting
Underlying Issue
Findings
Communication/Collaboration
File-Sharing/Backup
Accounting
Analysis/Recommendations
Communication/Collaboration
File-Sharing/Backup
Accounting
Financial Analysis
Implementation
Short-Term
Long-Term
Risk and Mitigation
Key Performance Indicators
Conclusion

From the Paper
"Our methodology consisted of interviews and academic research. The first interview mainly focused on the background of the company, their processes, types of consultants, and how they interact. Matthew's employee also went over the steps required to take a project from beginning to end. The second interview was about the company's current technology. Matthew explained the tools they were using for each project and demonstrated their different features. He also talked about their needs and future plans, which helped determine our alternatives. Specifically, he mentioned a need for an online accounting system. Thus, even though accounting systems are not generally considered as Web 2.0 technology, it will still be included in our overall analysis.
"After we heard about the current process and technologies that the Matthew Woodruff's company uses, we started our research by finding their strengths and weaknesses, and addressing their needs by suggesting new technologies. In our research we used a mix of academic journals and trade magazine articles, which we obtained through Business Source Complete. As well, the specific features for each of the proposed systems were obtained from the products' websites."

Tags:technology IT media online, online storage, IT planning, file-sharing, publishing techniques, social media tools

Abstract
This paper answers questions provided by client in relation to Camelback Communications Inc. The task of the paper, is to figure a cost-based pricing system that is in line with profitability and competitive requirements. The paper considers several and reports the results. The paper also supplies brief comments concerning the methodology and standards.

From the Paper
"In the case study of Camelback Communications, Inc., the question is what costs ought to be used in order to set prices that are competitive while allowing for CCI's profit requirements. Given the questions that are asked on the assigned case study, the following responses address the issues involved in making this determination. Response to Question 1 Once the allocation rate is set at $10.36 per hour, the price CCI will have to charge to reach a 40% mark-on are as follows: Product B $28.51 Product C $78.51 Product D $50.01. This would allow only Product B to be sold at its industry standard price ($38.50). However, adding mark-ons of 25% yields the following prices: Product B $25.45 Product C $70.10 Product D $44.65."

Tags:accounting, costing, pricing

Abstract
This report consist of six parts -
The first part briefly analyzes the market position of sample cross-border acquisition companies: France Telecom and Orange Plc and finds out their pre-acquisition industry aspect.
Second part determines the motives for merger and acquisition of these two companies. How synergy plays an important role in this stage.
Third part finds out the respective strategies each company adopted, how acquirer uses proper tactics to takeover other one and how the vulnerable company defenses its position. Within this, the report also presents the decision making that why the Board of Directors of the target company would accept the bid.
Fourth part reviews the possible methods that the companies could use to finance the merger or acquisition.
Fifth part analyzes the market share movement in terms of pre-merger, during merger, and post-merger. And also according to the chart to find out if the merger or acquisition benefits to shareholders.
Final part discusses the possible factors besides the market share movement that influence shareholder wealth. In some extent analyze if the merger or acquisition served to help the maximization of shareholder wealth.

Table of Contents
Executive summary
Introduction
An overview of the pre-merger market positions
Motives for the merger and acquisition
The defenses and attack strategies
Financing methods of merger and acquisition
Share price analysis
Evaluation of merger and acquisition
Conclusion
Reference
Bibliography

From the Paper
"Market power exists when the firm can sell its products over the existing competitive market price or when its manufacturing, distribution, and service costs are lower than competitors?. Michael A. H. Jeffrey S. H. R. Duane I. (P151, 2001) argued that the effectiveness of decisions made and actions taken result in the firm developing market power in terms of both revenues and costs. Market power is a product of the firms' size, the degree of sustainability of its current competitive advantages, and its ability to make decisions today that will yield new competitive advantages for tomorrow."

Tags:acquisition, deutsche, finance, financial, financing, france, management, merger, orange, share, telecom, telecommunication, telekom