Business Simulation with Professional Development.

Scenario Information Your company, Swift Athletics is a publicly held, mid-sized manufacturer, with $20 million dollars in annual revenue. You produce high-end running shoes exclusively in the US. You are planning to sell your products internationally within the next two years. You operate in a lean environment, and your supplier monitors your raw materials needs, and shipments are made JIT. Assume that you are the Chief Accounting Officer (CAO) for the company. The company is publicly held; therefore, it must follow all reporting requirements of the Securities and Exchange Commission (SEC). The company is expanding rapidly and has outgrown its information system. You have been given the task of evaluating and recommending a viable accounting information system solution for the accounting and financial data. Your final proposal will be delivered to the Chief Executive Officer (CEO) and Chief Information Officer (CIO). You must be able to support your proposal with appropriate research. Instructions To complete this project: Articulate the value of an AIS and how it can be used to facilitate growth at Swift. Identify the departments/functions of a manufacturer like Swift that will utilize the AIS, and how the departments will interact. Prepare a summary that identifies the departments listed above, a weakness or threat for each department, explanation of why the weakness exists, and the steps that you will implement in your new system to address the weakness issues. Note: An example of a weakness or threat in the general ledger and reporting system might be an unauthorized disclosure of financial statements. Controls to respond to this weakness or threat include access controls and encryption. You may wish to present this information in a table for your presentation. While the balanced scorecard is not a new concept, it does offer a framework allowing managers to measure an enterprise's performance from four categories: financial, customer, business processes, and learning and growth. The balanced scorecard considers both financial and nonfinancial measures. After researching the balanced scorecard, for each of the four categories, identify at least one critical success factor for Swift to achieve shareholder value. As part of the planning process for your new accounting information system, you need to prepare flowcharts. This graphic will present the flow of information through the accounting cycles. Prepare flowcharts for at least two business departments/functions for Swift. Each flowchart should be detailed, and have the right symbols for each process. Also, think your way through the processes from beginning to end. For example, how is sales revenue defined, such as when is it considered earned? The following are the business processes that you may elect to address: Sales Purchasing Production Payroll Please note that you will have two distinct flowcharts for this assignment. Be sure your flowcharts are professionally presented and clearly labeled. What are the steps you will take to justify the new information system initiative? What must be considered for Swift? How will you assess the financial implications? What is the impact on the AIS of globalization and a multinational business presence? How will appropriate and effective use of technology for managing the accounting and financial information flows and presentation be affected? Evaluate the threats and risks associated with the accounting information system for Swift. Prepare a PowerPoint presentation along with an executive summary to be delivered to the CEO and CIO which includes the information in 1-7 above. 

Option #2: Consolidation at the end of the first year subsequent to date of acquisition (purchase price greater than book value)Assume that a parent company acquires its subsidiary on 1/1/xx, by exchanging 41,500 shares of its $1 par value common stock, with a market value on acquisition date of $36 per share, for all of the outstanding voting shares of the subsidiary. You have been charged with preparing the consolidation of these two entities at 12/31/xx.On acquisition date (1/1/xx), all of the subsidiary's assets and liabilities had fair values equaling their book values except PPE assets are undervalued by $81,000 (depreciation =$5,400 per year), the subsidiary has an unrecorded patent with a fair value of $261,000 (amortization = $32,625 per year) and the parent records $162,000 of goodwill in the transaction.Submission Requirements:Using the ACT470_Mod02-Option02.xlsx Excel spreadsheet in the Module 2 folder:Prepare the consolidated balance sheet at 12/31/xx by placing the appropriate entries in their respective debit/credit column cells.Indicate, in the blank column cell to the left of the debit and credit column cells if the entry is a [C], [E] or [A] or [D] entry.Use Excel formulas to derive the Consolidated column amounts and totals.Using the "Home" key in Excel, go to the "Styles" area and highlight the [C], [E], [A] and [D]cell entries in different shades.Review the grading rubric following this assignment, to understand how you will be graded on this assignment. Reach out to your instructor if you have questions about the assignment.