Critical Leadership Competencies Needed in 2020
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What are the key leadership competencies that will be needed in leaders by 2020?
The key leadership competency that will be needed in leaders by 2020 is the ability to be an effective communicator. This competency is necessary because technology allows for organizations to be networked and outsourced. Therefore teams will not be in the same office building or even from the same country.
What are the most significant leadership trends that require a change in leadership approaches by 2020?
The most significant leadership trend that requires a change in leadership approach by 2020 is authenticity and caring. Leaders must be real and leaders must care. Authenticity includes credibility and trust. Caring is important because if an employee doesn’t feel that a leader cares about them as a person or individual morale will be low and therefore productivity will decrease.
What are some of the external trends (e.g., increased globalization, increased diversity, and increased use of technology) that will influence the leadership changes?
External trends that will influence the leadership change are the use of technology. No longer are face-to-face meetings the norm. Conference calls, video conferencing and email have all transformed meetings. Technology is essential today and will be even more important in 2020.
What will the employee of 2020 look like in terms of expectations, skills, and experience?
The 2020 employee will have higher expectations, stronger skills and more work experiences. These terms are all required in order for stakeholder expectations to be met in 2020
In: Operations Management
Conch Republic Electronics is a midsized electronics manufacturer located in Key West, Florida. The company president is Shelly Couts, who inherited the company. The company originally repaired radios and other household appliances when it was founded over 70 years ago. Over the years, the company has expanded, and it is now a figure manufacturer of various specialty electronic items. Jay McCanless, a recent MBA graduate, has been hired by the company in its finance department.
One of the major revenue-producing items manufactured by Conch Republic is a Personal Digital Assistant (PDA). Conch Republic currently has one PDA model on the market and sales have been excellent. The PDA is a unique item in that it comes in a variety of tropical colors and is preprogrammed to play Jimmy Buffett music. However, as with any electronic item, technology changes rapidly, and the current PDA has limited features in comparison with newer models. Conch Republic spent $1.2 million to develop a prototype for a new PDA that has all the features of the existing one, but adds new features such as cell phone capability. The company has spent a further $250,000 for a marketing study to determine the expected sales figures for the new PDA.
Conch Republic can manufacture the new PDA for $210 each in variable costs. Fixed costs for the operation are estimated to run $5.3 million per year. The estimated sales volume is 64,000, 106,000, 87,000, 78,000, and 54,000 per year for the next five years, respectively. The unit price of the new PDA will be $515. The necessary equipment can be purchased for $38.5 million and will be depreciated on a seven-year MACRS schedule. It is believed the value of the equipment in five years will be $5.8 million.
Net working capital for the PDAs will be 20 percent of sales and will occur with the timing of the cash flows for the year (i.e., there is no initial outlay for NWC). Changes in NWC will thus first occur in Year 1 with the first year's sales. Conch Republic has a 22 percent corporate tax rate and a 12 percent required return.
What is the payback period?
What is the profitability index?
What is the IRR of the project?
What is the NPV of the project?
Show all work.
In: Accounting
Claytonhill Beverages Ltd. is 100-percent owned by Buzz Bottling. While the company has in the past been profitable, it incurred a loss for the year ended December 31, 2020. The parent company, Buzz Bottling, has indicated that if Claytonhill incurs another loss, it will put the subsidiary up for sale. In response, Claytonhill is looking to expand its market share and therefore its profitability by performing private labelling for a nationwide supermarket chain, ValueFoods Inc. Private labelling involves producing and packaging pop and other non-alcoholic beverages under the ValueFoods label. However, in order to proceed with this endeavour, Claytonhill needs a packaging facility dedicated exclusively to co-packing. To finance this expansion, the company has applied to the Better Business Bank for financing.
The bank has indicated that, before it will approve the loan application, it would like to see audited financial statements for 2020. It also wants to ensure the entity has a current ratio of 2:1.
Claytonhill Beverages has provided you, its new auditor, with the draft (unaudited) financial statements in figure 4.10:
Figure 4.10 Unaudited financial statements for Claytonhill Beverages
| Income Statement for the Year Ended December 31, 2020 (partial) | |
| Revenue | |
| Sales | $2,057,505 |
| Cost of goods sold | 1,445,450 |
| Gross margin | 612,055 |
| Less: | |
| General and administration costs (including bonuses of $100,000) | 775,899 |
| Net loss before tax | $(163,844) |
| Balance Sheet as at December 31, 2020 | |
| Assets | |
| Current assets | |
| Cash | $ 179,825 |
| Accounts receivable, net | 64,475 |
| Prepaid expenses | 3,004 |
| Inventory | 1,507,413 |
| Total current assets | 1,754,717 |
| Property, plant and equipment | |
| Land | 2,004,933 |
| Building, net | 964,224 |
| Office furniture and equipment, net | 85,106 |
| Total property, plant and equipment | 3,054,263 |
| Total assets | $ 4,808,980 |
| Liabilities | |
| Current liabilities | |
| Accounts payable | $ 799,255 |
| Other accrued expenses | 44,875 |
| Warranty provision | 9,456 |
| Current portion long-term debt | 25,000 |
| Total current liabilities | 878,586 |
| Long-term liabilities | |
| Bank loans | 2,200,000 |
| Total long-term liabilities | 2,200,000 |
| Total liabilities | 3,078,586 |
| Equity | |
| Common shares | 248,000 |
| Retained earnings | 1,482,394 |
| Total equity | 1,730,394 |
| Liabilities and equity | $ 4,808,980 |
Calculate the three levels of materiality.
|
Planning Materiality |
$ | |
|---|---|---|
|
Performance Materiality |
$ | |
|
Specific Materiality |
$ |
In: Accounting
X Corporation appropriately uses the installment-sales method of accounting to recognize income in its financial statements. The following information is available for 2020 and 2021.
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2020 |
2021 |
|||
|
Installment sales |
$800,000 |
$1,000,000 |
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|
Cost of installment sales |
480,000 |
650,000 |
||
|
Cash collections on sales of 2020 |
300,000 |
500,000 |
||
|
Cash collections on sales of 2021 |
-0- |
400,000 |
||
|
Compute the amount of realized gross profit recognized in each year. |
|
2020 |
2021 |
In: Accounting
Roxy Corp. Prepares its financial statements under U.S. GAAP
During the Year
The company begins operations on January 1, 2016. The company is started by issuing 50,000 shares of common stock for $1,000,000 ($1 Par value stock)
The company immediately purchases $400,000 in inventory for cash and sells $100,000 of this inventory to customer #1 for $150,000 on credit.
The company purchases a machine for $120,000 cash on January 1st and depreciates it over 10 years (depreciation is recorded at year end and there is no salvage value)
On June 1st, customer #1 pays us $70,000 of the amount due.
During June $25,000 dollars of research and development expenses are incurred. $10,000 has not been paid as of yearend.
Required:
Using a separate Excel Spreadsheet, journalize the transactions and create Balance Sheet and Income Statement for year end 2016
In: Accounting
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In: Accounting
Please provide a brief history of finance as it relates to the U.S. economy specifically, taking time to connect the history to that of the U.S. from an economic/historical perspective.
In: Finance
In: Economics
Discuss the role of the Physcian in the U.S. Health Services System. Identify issues facing the U.S. Medical Profession and how these issues impact consumers of care.
In: Nursing
Some people believe that U.S. companies should be
given the choice of using either U.S. GAAP or IFRS instead of
mandating IFRS. Your thoughts!
In: Accounting