Cima T4 Part B Report Jot
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- Category: Other
- Date Submitted: 07/18/2015 10:59 PM
- Pages: 15
- Report this Essay
Report to identify, prioritise and recommend actions to the current issues faced by JOT
To Jot board of directors
From Management Accountant
Date 07 May 2012
1 Introduction
2 Terms of reference
3 Prioritisation
4 Analysis
5 Ethical issues
6 Recommendations
7 Conclusion
Appendices
Appendix 1 SWOT
Appendix 2 Mendelow matrix
Appendix 3 debtors calculations
Appendix 4 product joint development calculations
1 Introduction
The European commission reported that the European toy industry consists mainly of small to medium sized companies such as Jot. In 2011 the commission reported that the 27 European companies exported €1.05billion toys to non European countries. This fully supports drive to enter new markets in asia and Russia
To reach its future targets in an industry dominated by some very large rivals Jot must focus on its core strengths of design and innovation
2 Terms of reference
I am the management accountant for JOT and I have produced this report to identify, prioritise and recommend actions to the current issues faced by JOT
3 Prioritisation
3a) 1st issue - Customer failure and cashflows
Customers are delaying payments and we are expected to lose €955,275 in bad debts – figures in appendix3. This is critical for Jot because the overdraft has almost been reached and our bank will not supply more finance. If no action is taken we could be forced into liquidation within the next few months. Therefore this is our most urgent issue
3b) 2nd issue – Strategic direction
A company without a good strategic direction will fail to compete in such a difficult economic climate that we currently face. Staff will also become demotivated and high staff turnover could follow increasing our costs and reducing overall effectiveness. This must be resolved as soon as possible although not us immediately urgent as issue 1 this is our second most important priority
3c) 3rd issue – Product joint development
The joint development requires a large...
To Jot board of directors
From Management Accountant
Date 07 May 2012
1 Introduction
2 Terms of reference
3 Prioritisation
4 Analysis
5 Ethical issues
6 Recommendations
7 Conclusion
Appendices
Appendix 1 SWOT
Appendix 2 Mendelow matrix
Appendix 3 debtors calculations
Appendix 4 product joint development calculations
1 Introduction
The European commission reported that the European toy industry consists mainly of small to medium sized companies such as Jot. In 2011 the commission reported that the 27 European companies exported €1.05billion toys to non European countries. This fully supports drive to enter new markets in asia and Russia
To reach its future targets in an industry dominated by some very large rivals Jot must focus on its core strengths of design and innovation
2 Terms of reference
I am the management accountant for JOT and I have produced this report to identify, prioritise and recommend actions to the current issues faced by JOT
3 Prioritisation
3a) 1st issue - Customer failure and cashflows
Customers are delaying payments and we are expected to lose €955,275 in bad debts – figures in appendix3. This is critical for Jot because the overdraft has almost been reached and our bank will not supply more finance. If no action is taken we could be forced into liquidation within the next few months. Therefore this is our most urgent issue
3b) 2nd issue – Strategic direction
A company without a good strategic direction will fail to compete in such a difficult economic climate that we currently face. Staff will also become demotivated and high staff turnover could follow increasing our costs and reducing overall effectiveness. This must be resolved as soon as possible although not us immediately urgent as issue 1 this is our second most important priority
3c) 3rd issue – Product joint development
The joint development requires a large...