acctg discussion
please answer all four questions 1 paragraph each (no source)

Stay Hotel operates a hotel chain. Each hotel is run by a manager and a controller.

Jim, the controller, asked Jill, the new bookkeeper to prepare the annual budget which will be submitted to corporate headquarters for approval. They use the budges to compare to actual results the next year and use them to award bonuses and capital improvements.

Before the budget is complete, Jim asked Jill to increase the amounts budgeted for labor and supplies by 15%. He explained that this “cushion” would give him flexibility in running the hotel and paying for unexpected items.

(a) What should Jill do?

(b) What is the ethical issue for Jim?

(c) What are the possible consequences for him and the hotel?

(d) Assuming that the hotel manager asked Jim to do this, what should he do?

this is a sample question on how my teacher wants the answers to be
Sample Question #1
Best Buy and RadioShack are both merchandisers that rely on customer satisfaction. Access and read (1) Best Buy’s “Business Strategy and Core Philosophies” section (one page) and (2) RadioShack’s “Financial Impact of Turnaround Program” section (one page). Both sections are located in the respective company’s Management Discussion and Analysis of Financial Condition and Results of Operations section from the annual report or 10-K. The Best Buy report is for the year ended March 3, 2007, and the RadioShack report is for the year ended December 31, 2006. You can access these reports at www.sec.gov in the Edgar reports section.
Required
1. Identify the strategic initiatives that each company put forward in its desire to better compete and succeed in the marketplace.
2. For each of these strategic initiatives for both companies, explain how it reflects (or does not reflect) a customer satisfaction focus.
Sample Answer Question #1

1. Best Buy’s business strategy is customer centricity. Customer centricity is defined through its parts they call their three core philosophies: inviting employees to contribute their unique ideas and experiences in service of customers; treating customers uniquely and honoring their differences; and meeting customers’ unique needs, end-to-end.

RadioShack has identified their turnaround program as their strategic initiative. It includes: updating their inventories; focusing on top-performing company-operated stores, closing 400 to 700 stores, and relocating other RadioShack stores; consolidating distribution centers; reducing overhead costs.
2. All of Best Buy’s initiatives indicate a focus on satisfying the customer, and providing the goods and services that customers want. RadioShack’s initiative indicates they will be focusing on serving customers in high-performing stores, and by consolidating distribution centers and reducing overhead costs, they are likely to be able to reduce costs which might lead to lower prices for their customers.

Sample Question #2
Brian Taylor of Kernel Season’s must understand his manufacturing costs to effectively operate and succeed as a profitable and efficient company.
Required
1. What are the three main categories of manufacturing costs that Brian must monitor and control? Provide examples of each.
2. How can Brian make the Kernel Season’s manufacturing process more cost-effective? Provide examples of two useful managerial measures of time and efficiency.
3. What are four goals of a total quality management process? How can Kernel Season’s use TQM to improve its business activities?

Sample Answer Question #2

1. Brian Taylor’s manufacturing costs for Kernel Season’s include (a) direct materials such as cheese, butter, spices, and chocolate (b) direct labor such as mixing and packing, and (c) factory overhead such as building insurance, depreciation, and utilities.
Each of these manufacturing cost components must be monitored and controlled for his company to be most efficient and profitable.

2. First, Brian must identify those manufacturing costs to be monitored and controlled. Second, Brian should try to reduce his non-value-added activities such as inspection time, move time, and wait time. The more production time that is spent toward value-added activities, the more cost effective his manufacturing process will be, and the more profitable will be his company.
3. Goals of a total quality management (TQM) process include reduced waste, better inventory control, fewer defects, and continuous improvement. Kernel Season’s can use TQM to ensure its key raw materials, such as spices and cheeses, are of the highest quality. That will result in less waste throughout the production process and less subpar seasonings.
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