acc_561_week_3_dq_1.doc

May 28th, 2015
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acc_561_week_3_dq_1.doc

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Running head: GUILLERMO FURNITURE STOREGuillermo Furniture Store YOUR NAME(S)ACC/561DATEPROFESSORS NAMEGuillermo Furniture Store PaperOver the course of the last six weeks, we have been able to take the Guillermo Furniture Store scenario and dissect its strategies to compare it to the course objectives. In doing this, we have learned different financial approaches that Guillermo can take to run the company more efficiently. In particularly, we have studied ways Guillermo Furniture Store can cut its costs, increase their market share, and determine how they can adjust its current cost behaviors to make the company more competitive. We will take a look at what financial decisions Guillermo Furniture Store can make to become more profitable and secure a better position in its industry.Cost Relationships/Behaviors and Decision-Making for ManagersNow that Guillermo is faced with obstacles that he previously did not have to deal with such as competitors and rising labor costs it is now extremely important for him to set up and utilize budgets to assist him in his business decision making. Guillermo needs to sit down and create budgets for key items such as revenues, costs of goods sold and expenses to make sure that he is running as efficiently as possible. More now than ever Guillermo needs to compare his actual activity to his budgeted activity to ensure that he is staying on target for his key items. The reviewing of financial reports that are comp

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