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Implementation of profit sharing
Write a plan for the implementation of profit sharing as a part of the total compensation plan
Order Instructions:
In Assignment 2, you created a compensation plan for Plastco Packaging, considering carefully the case found in the Appendix of your Strategic Compensation in Canada textbook.
Additional Case Information
Plastico Packaging has decided to incorporate the concept of profit sharing as an incentive for new employees.
They have established weekly sales and production targets. After reviewing plans with an accountant, they decided to create a cash-based bonus of up to 5% of the employee’s base pay each quarter when specific production and sales targets have been met.
Review the compensation strategy that you developed in Assignment 2.
In an essay of approximately 1,200–1,400 words create a total rewards plan which includes the following:
Define the wage/salary range for the following positions:
Six Bag-Making Machine Operators
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Plant Manager
Maintenance Supervisor
Inspectors / Packers. (Hint: Use the salary survey process/websites used in Module 7.)
Describe why you established the wage levels at the rates you selected.
Write a plan for the implementation of profit sharing as a part of the total compensation plan. Describe the role that performance appraisals will play in this plan.
With a budget of $400/month and using the table found in Activity 4 (above), design a benefits plan for the employees.
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Federal Income Tax System
Overview Analyze official rules and instructions of th Federal Income Tax System to determine an individual’s tax liability and complete a basic tax return. Note: Completing a tax return requires specific steps that need to be executed in a sequence. The assessments in this course are presented in sequence and must be completed in order. Incorrect entries in this assessment will result in incorrect entries in future assessments. Do not complete Assessment 2 until you have submitted and received faculty feedback for Assessment 1.
Federal Income Tax System
Using an official primary source to obtain answers to tax questions is an essential academic skill and step toward financial literacy. By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria: Competency 1: Analyze the background of the federal income tax system. o Provide evidence of requirements for a tax return from an official primary source. o Determine whether filing a return is mandatory for a scenario. o Determine filing status. o Determine filing cost for an e-return. Competency 2: Analyze the basics of individual income tax return preparation. o Analyze official rules, instructions, and tax tables to determine the tax owed. o Analyze official rules, instructions, and tax tables to determine the amount of a refund.
Federal Income Tax System
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Context “The art of taxation consists in so plucking the goose to obtain the largest amount of feathers with the least possible amount of hissing.” — Jean-Baptiste Colbert, French Minister of Finance from 1665 to 1683 under the rule of King Louis XIV. If the scenario described in Colbert’s quote seems familiar, it is probably because it is repeated annually by the millions of U.S. citizens who are obligated to pay homage to the Internal Revenue Service by remitting many of their hard-earned dollars because they underpaid Uncle Sam throughout the prior tax year. The federal tax system is a huge structural machine that seems more complex each year. Try to keep the hissing down as we begin to pluck the feathers off the goose one at a time.
Question to Consider To deepen your understanding, you are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of the business community.
Federal Income Tax System
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Until what age can a parent claim a child as a dependent? How much money does a person have to earn to trigger the filing requirement? Is it necessary to purchase tax software to calculate every return?
Resources The following resources are required to complete the assessment. Internet Resources Access the following resources by clicking the links provided. Please note that URLs change frequently. Permissions for the following links have been either granted or deemed appropriate for educational use at the time of course publication. IRS.gov is the homepage for the federal IRS Web site. Use the tabs at the top of the page to navigate the site. The Interactive Tax Assistant and Tax Trails are tools that walk you through a series of questions to find answers to taxn questions. Download the appropriate forms and publications from the IRS Web site to ncomplete this assessment. IRS.gov. (n.d.). Retrieved from http://www.irs.gov/ IRS. (n.d.). Interactive tax assistant. Retrieved from http://www.irs.gov/uac/Interactive-Tax-Assistant-(ITA)-1 IRS. (n.d.). Tax trails. Retrieved from www.irs.gov/Individuals/Tax-Trails%2d%2d%2dMain-Menu
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Cash flow and working-capital management
1: Case reading: Read through the Horniman Horticulture case (Case 11) in the text and answer the following questions. (50 points)
Case description:
Horniman Horticulture case captures the problems concerning cash flow and working-capital management typical of small, growing businesses. At the end of 2005, Bob and Maggie Brown have completed their third year of operating Horniman Horticulture, a $1-million-revenue woody-shrub nursery in central Virginia. While experiencing booming demand and improving margins, the Browns are puzzled by their plummeting cash balance. The case highlights the difference between cash flow and accounting profits, as well as the common negative effects of growth on cash flow. The case also provides a forum for:
i. instilling appreciation for the relevance of free cash flow to business owners and managers,
ii. introducing financial-ratio analysis,
iii. working-capital management, and
iv. motivating the use of financial models.
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1): a. From an Income Statement perspective what is going right with this business?
i. list why you believe things are going right in terms of ratio analysis?
b. What concerns you with the balance sheet?
i. support your concerns with ratio analysis?
2. a. What are the 4-yr cumulative cash flows?
b. Where is the cash going?
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3. a. What is Maggie’s accounts payable policy?
b. Do you agree with Maggie Brown’s accounts-payable policy?
4. a. What are the alternatives for solving the business’s cash problem?
The free-cash-flow calculation provides a reasonable framework for establishing the alternatives facing the Browns.
b. Explain how realize the Browns can solve their problem?
2: Based on the 2016 financial report of Facebook, forecast the financial performance in 2017, using percent of sales forecasting method. (50 points)
Since there are only two balance sheets, you just use the data available to do forecasting. Let me know your method of finding your base year, average, last year’s value, etc.
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Banking and Financial Institutions Case Study
Hansson Private Label
There is a proposal for a $ 50 million expansion for Hanson Private Label or HPL. HPL manufactured personal care products such as sop, shampoo and mouthwash The proposed expansion is HPL’s response to a retail customer’s desire to expand HPL’s share of their private label manufacturing. Consider the firm’s overall competitive strategy and proceed as follows:
How would you describe HPL and its position within the private label personal care industry ? Use Exhibit 1 to obtain the firm’s profitability, growth rate and leverage (see Exibit 8 as well) versus its competitors.
Estimate the project’s NPV. Would you recommend that Tucker Hanson proceed with the investment ?
Less: Selling, General and Administrative Expense .078 x Revenue see Exhibit 5
EBITDA = Earnings before interest, taxes, depreciation and amortization Revenue – Raw Material Costs – Labor Expense – Manufacturing Overhead –Maintenance Expense – Selling, General and Administrative Expense
Banking and Financial Institutions Case Study
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The next line is depreciation. The figure of 4000 is given on p.5 in the table.
Use this figure for each year.
Less: Depreciation expense
EBIT = EBITDA – Depreciation
Less Taxes
Taxes = EBIT x .4
NOPAT
Unlevered Free Cash Flow:
NOPAT
Plus Depreciation
Less: Change in Working Capital
Banking and Financial Institutions Case Study
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For Working Capital, perform this computation
Accounts Receivable/sales/360 = Days Sales Outstanding
Accounts Receivable = Days Sales Outstanding from Exhibit 5 x Revenue from the top line of this chart/360
Accounts Payable= Days Sales Inventory x inventory/360
Days Sales inventory is from Exhibit 5 and inventory is the 2007 figure on page 6.
The next line is unlevered free cash flow. Compute for each year.
Cost of capital: Take any WACC from Exhibit 7’s last column in the second short table such as 9.38%.
Return of Working Capital
Use 3, 147 prior to 2009 and 7,174 in 2018.
From page 3, add facilities expansion, manufacturing equipment and packaging equipment to get the initial investment.
Compute NPV = – Initial investment + PV of an annuity of annual unlevered free cash flows
For payment, use the unlevered free cash flows obtained in this analysis. For i/y, use the cost of capital. For n, count the number of years from 2018 to 2009.
Banking and Financial Institutions Case Study
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Federal Acquisition Regulation
The Federal Acquisition Regulation can be termed as the primary regulation that can be utilized by all Federal Executive branches in their procurement of provisions and services with the appropriated finances. It was dispensed within suitable laws that fall below the shared authorities of the Administrator of General Services, the Secretary of Defense, and the Administrator for the National Aeronautics and Space Administration.
The third part of the FAR is one that focuses on inappropriate business activities and individual struggles of interest. In this case, this part lays down policies and processes that can be used to avoid any unfair business practices. Furthermore, it has proved quite efficient in doing away with individual conflicts of concern and dealing with any impending or real occurrence.
One of the primary objectives that this policy aims at driving is making sure that government business is carried out in a way that is beyond criticism, with total independence, and without any privileged handling. The overall rule, in this case, is that there should be avoidance of any engagement of interest or emergence of a clash of interest in Government-contractor relations.
Federal Acquisition Regulation
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Whereas most federal rules and protocols put limitations on the activities that administration workers take part in, their authorized demeanor should be in such a manner that they do not have any fear of fully and publically exposing their actions. However, in this case, there will be an in-depth look at contractor code of morals and conduct.
This particular part is one that lays the foundation for the implementation of 41 U.S.C. 3509, which is the Notification of Violations of Federal Criminal Law or overcompensation (Federal Government, 2018). On the other hand, it also recommends strategies and processes for the foundation of service provider codes of business ethics and conduct and the exhibition of agency Office of Inspector General (OIG) deceit hotline notices.
Under this subpart, a subcontract is used as a term that refers to each agreement gotten into by a subcontractor to provide materials or amenities that are used to perform a vital contract or subcontract. A subcontractor, on the other hand, is used as a term that refers to any supplier, wholesaler, retailer, or company that provides materials or service for or to a significant service provider or another subcontractor (Federal Government, 2018).
Federal Acquisition Regulation
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Policy
This subpart also presents a policy that is required to be adhered to. Under this, one of the significant stipulations is that government contractors should make sure that they can conduct themselves in a manner that depicts the premier grade of honesty and openness or trustworthiness (Federal Government, 2018). The second stipulation is that suppliers should possess a well laid down code of business ethics and conduct.
To vouch for acquiescence with such code of ethics and conduct, service providers are expected to conduct a working professional ethics and agreement training program and in-house regulation systems. Such are anticipated to be suitable for the scope of the business and level of its participation in contracting with the Government.
It is also expected to provide accurate detection and admission of any inappropriate conduct concerning government contracts. The other anticipation of the implementation of such a policy is that it would go a long way in making sure that the remedial actions are punctually introduced and executed (Federal Government, 2018).
Federal Acquisition Regulation
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Requirements
The other aspect that falls under the subpart of service provider code of ethics and conduct is the requirements. One of these is the contractor requirements. Under this, one of the significant stipulations is that despite the fact that policies apply as a source of direction to all government suppliers, the contractual obligations in the clause of contractor code of business ethics and behavior, and exhibition of Hotline poster(s) are necessary if the agreements are subjective to the particular clause prescriptions contained in the contract clauses.
The other element under the contractor requirements is that whether or not the provision of Display of Hotline Poster is applicable or not, a contractor may be faced with suspension for recognizing letdown by a principle to aptly reveal to the administration award, enactment, or closeout of a Government agreement executed by the supplier or subcontractor (Federal Government, 2018).
Federal Acquisition Regulation
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The third part under service provider requirements indicates that the compensation clause demonstrates that where the servicer is on the knowledge that the administration has overcompensated on an agreement bankrolling or invoice payments; the contractor is called upon to submit the overpaid sum to the administration. Also, a supplier may be suspended or disqualified for identifying letdown by a principle to reveal proof of a substantial overcompensation promptly.
The other requirement is the notification of eminent contractor violation. This is where if the contracting official is informed about a possible defilement of Federal criminal law that involves deception, enticement or perquisite abuses, the officer is required to raise the matter with the agency Office of the Inspector General or take appropriate action that is per procedures laid out by the agency. The other requirement is that of fraud hotline poster.
Under this, the agency OIGs are put in charge of defining the requirements for, and gratification of their agency posters. Besides, when called upon by the Department of Homeland Security, agencies are required to make sure that contracts facilitated financially with catastrophe help funds need to exhibit any fraud hotline poster that applies to that precise contract (Federal Government, 2018). Such signs can be put in a display alongside the regular poster of the agency.
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Contract Clauses
The fourth element of the code of ethics and conduct is the contract clauses. One of the provisions is that there should be the inclusion of Servicer code of business ethics and conduct in solicitations and agreements where the worth is more than $5.5 million and exceeds the execution time of 120 days. The second clause is that unless the agreement entails attainment of a money-making product or will be executed beyond the borders of the United States; there should be the inclusion of the Display of Hotline Poster(s) where the contract goes above the $5.5 million or a smaller amount that is put forth by the agency (Federal Government, 2018).
Moreover, the contracting officer is expected to recognize any applicable posters and include the links to websites or additional contract info for acquiring the agency or Department of Homeland Security poster. Furthermore, where the agency has put in place policies and strategies for the exhibition of the OIG scam hotline notice at a reduced sum, the contracting officer is expected to switch the amount of $5.5 million with a reduced total that the agency has put in place (Federal Government, 2018).
In conclusion, it is critical to note that indeed, the United States government is dedicated to ensuring that there are ethical practices when it comes to business practices. Through the laws and regulations laid under the Federal Acquisition Regulations, contractors, the government, subcontractors and other stakeholders are held in the account of the actions that they engage in.
This ensures that there is a balance in operations and that the right contractors and subcontractors are assigned the different contracts ethically. Without such policies and procedures in place, it would be difficult for maximum effectiveness in the various government processes.
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Assets
A company must satisfy its customers in order to succeed. A company also needs to sell products and services at a profit. (Non-profit and public organizations are not covered in this course.)
Companies have both tangible and intangible assets and need both of these types.
Goals of Financial Management
Should financial managers focus only on long-term sustainable value or should they account for the short-term demands of shareholders seeking immediate gain? Let us look at an example. A relatively new company without actual profits or a solid business strategy called V.A. Linux (ticker symbol LNUX) went public December 9,1999, at an initial price of $30 per share, and its stock hit $320 per share the same day. In the year 2000, its stock hit a low of 6.
There are numerous stories just like V.A. Linux. In general, maximizing value is a short-term proposition and one that does not always fit every situation in the short term.
Working to maximize shareholder wealth is a simple and obvious management mandate. Complications surface when managers try to balance short-term and long-term goals, sustainable performance, social responsibility expectations, ethical and legal behavior, and sometimes personal objectives. This course will touch on all of these complicating factors.
Goals of Financial Management
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Financial Environment
Financial managers are not independent operators. Financial institutions make their decisions in larger financial environments.
Financial managers need to understand the environment within which their businesses operate. You will look at the markets in which capital is raised and securities are traded and priced, and you will examine institutions that operate in these markets. In the process, you will also explore the principal factors that determine the level of interest rates.
People and organizations with borrowing needs often use the services of different financial intermediaries. This involves analyzing different existing types of financial markets such as primary and secondary markets, equity and bond markets, money markets and capital markets, and some of the recent trends in the financial markets.
It is important to consider different financial intermediaries, which not only efficiently transfer money between borrowers and savers, but essentially create new financial products. There are major types of intermediaries with highly specialized functions in our financial environment.
Goals of Financial Management
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Financial Statement Analysis
There are four basic financial statements: the balance sheet, the income statement, the statement of retained earnings, and the statement of cash flows. These statements contain a lot of information that should be dissected and analyzed to help managers to draw conclusions regarding the overall financial performance of the company.
Ratio Analysis
It is useful to anticipate future conditions and to plan actions that will improve a firm’s future performance. The primary method used to analyze financial statements is ratio analysis. The most important ratios to analyze can be grouped into liquidity ratios, asset management ratios, debt management ratios, profitability ratios, and market value ratios.
Financial Statement Forecasting Techniques
This assessment will focus on some of the techniques used to forecast financial statements as a critical part of the overall financial planning process. Financial forecasting usually starts with a forecast of the firm’s projected sales based on projected or pro forma financial statements. These statements can also provide ratios to be used in evaluating alternative business plans and strategies. Consider the uses and limitations of the additional funds needed (AFN) formula, which is used to estimate additional funds needed to support a higher projected level of sales, as well as the need for a comprehensive approach to forecasting and an understanding of financial and non-financial factors in the financial environment.
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Assets.
Goals of financial management.
Financial environment.
Financial statement analysis.
Ratio analysis.
Financial statement forecasting techniques.
Question to Consider
To deepen your understanding, you are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of the business community.
Examine a large department store company that has stable sales and a well-established product line (for example, Macy’s). Imagine the following: The store does not foresee growth in future sales, and the company’s target markets are primarily in the United States. If this company plans to move product overseas at a lower cost, what financial and social factors should they be concerned with?
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Financial Ratio Analysis
Using the XYZ Balance Sheet and Income Statement linked in the Resources and the table provided below, complete the following for XYZ Inc.:
Calculate the indicated ratios for XYZ.
Construct the DuPont equation for both XYZ and the industry.
Use your analysis to outline XYZ’s strengths and weaknesses.
Say XYZ had doubled its sales as well as its inventories and common equity during 2013. Do you think this would this affect the validity of your ratio analysis? No calculations are necessary.
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For this part of the assessment, imagine that you are looking into investing in a manufacturing company, such as a car company or a steel company. Your goal is to create a plan for determining the potential strength of an investment in the company (investment analysis) and determining how the company might perform over a selected period of years (forecast).
After considering a potential investment in this manufacturing company, address the following:
What are some of the qualitative factors that must be considered when selecting a company in which to invest?
What financial ratios would you examine, and why?
What non-financial factors would you examine, and why?
Use research from at least two references to support your ideas.
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Investment Analysis and Forecasting
Overview
In 3–6 pages, complete a ratio analysis using a provided balance sheet and income statement, specify how you would analyze a potential investment, and describe how you would forecast a company’s potential success.
An investment analysis has two fundamental components: 1) A financial analysis, such as reviewing current financial ratios within the company, and 2) a non-financial analysis, which is reviewing a company’s strategic vision, employee satisfaction, et cetera. The first two parts of your assessment provide an opportunity for you to demonstrate both of these types of analyses.
The goal of forecasting the performance of a company is to estimate the financial performance of a company over a selected period of years. When forecasting a company’s performance, similar to an investment analysis, you look at both financial and non-financial factors. This is the focus of the last part of your assessment.
Investment Analysis and Forecasting
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