Existing System of Revenue Cycle Management †MyAssignmenthelp.com

Question: Discuss about the Existing System of Revenue Cycle Management. Answer: Introduction The company is engaged in the business of manufacturing and selling of computer components which includes motherboards, microchips and graphics card. Motherboards and More Pty Ltd are one of the main suppliers to the manufacturers of computers and repairers all over Australia. This organization is of eight years and insists on integrated ERP systems for their ICT solutions. This organization has the administrative offices which are situated in the central city building and performs the operations including manufacturing, shipment of the ordered goods while the receiving department is situated on the outskirts of the town with the distance of 10 minutes. The company has three different issues which are faced by the management lately- revenue cycle, internal control and probable attack of ransomware in their ERP system.(Solutiondots, 2017) The revenue cycle of the company is originated through placement of order by the customers on the company website, or by email or over phone. All the sales are done on credit payment basis with terms of payment are fixed with the credit allowed period of 14 days. The company offers 2% discount to the customers who are paying their dues by three days from generation of invoice. (CSU I. , 2017) The normal trend of payment of the regular customers is to pay their invoices by 3 days from date of invoice. As a result of this practice of credit sales, the company faces loss of revenue through demarcation of doubtful debts with the ultimate step to write off. Around 18% of the total credits sales are to be considered as non-collectable due to big numbers of online orders are being denied by the customers on the ground of not ordering the products or receiving the merchandise ordered. The normal practice of the revenue cycle starts with picking of orders followed by subsequent action of send ing to the warehouse for order processing as per customers name by alphabets. This warehouse is used for both receiving the incoming materials and dispatching of goods against sales orders. The company is normally running with the trend of receipt of ten to twenty incoming deliveries from different supply chain stakeholders. The revenue cycle starts with receipt of order from customer, arranging the goods from the inventories in the warehouse with subsequent shipment to the customers. The generation of invoice happens once the shipment is done. The invoices then directly impact the receivables by increasing the amount. The subsequent payments made for those invoices are processed either through bank or through cash receipts to make the sales complete.(Donald E. Kieso, 2017) Internal controls- weaknesses and respective remedies As the business grows for Motherboards and More Pty Ltd, the erstwhile infrastructure and the job style is failing the need of the organization. It is mostly found that the company has internal weaknesses in the strategic area of credit policy(Times, 2017) and the execution policy of dispatch system and inventory management(Tradegecko, 2017). Appended below the table of weaknesses with their respective impacts and probable remedies to come out of these internal weaknesses:(Kokemuller, 2017) Weaknesses Impact Remedies Credit policy Direct impact on working capital To revise the existing credit policy by fixing the criteria of being credit customers Dispatch system Wrong dispatch of products resulting to reduction of sales due to non attentive attitude of the warehouse staffs Identification of ordered item and tagging them with the specific order of customers Impact on working capital by reduction of receivables for cancellation of orders for improper dispatch of goods Proper verification of goods before dispatching Inventory management Non derivation of inventories as current assets in proper manner to ascertain the balance sheet in true and professional manner A practice of quarterly inventory checking is to be made with proper reconciliation of products as per receipts and dispatches to arrive at the physical closing stock Ransomware Attack The article on present ransomware attack as provided by CFO shows that this attack is damaging the ICT system of the company through the loopholes created by the old version of windows. After hacking the system through ransomware, the hackers start demanding money from the affected.(CSU, 2017) Although there are security alert by some mysterious identity, the provider, Microsoft had announced about their remedies related to such alerts to be covered. Basic problem of the affected users of systems is that they are not upgrading their system as per the latest version of Microsoft and thus the entire computer system is being affected by the said Ransomware. This attack has no geographical limit as it has attacked almost all the countries with its evil footfall. The victimised users may be affected through old version of Windows, accessing fictitious softwares called as Malware(Rouse, 2017) or through spam mails alluring the recipient of different unrealistic offers.(Brandom, 2017) Effective internal control to avoid ransomware attacks To ensure effective internal control to combat ransomware attack, Motherboards and More Pty Ltd has to consider first the sources through which the attack may hit the system. The company is working on ERP system which normally runs through different portals for different purposes. Moreover the company has its own website which is the fascia of the company. Normally the ERP system is supported by Windows. The company should use the legalised version of Windows for professional use with multi user facility and upgrade the same from time to time as per the updates available on the system provided by Microsoft. Moreover to control the access over spam mails the company should use secured version of internet connection by adopting Virtual Private Network (VPN) which can restrict the unwanted infiltrators in the system. It is mostly found that personal mails are accessed while the users work on the company system. That should be restricted with only option of using the company email facili ties while they are in the office. Moreover proper allocation of layer of authentication through multi level password for the users can also be helpful for ensuring internal control over the ERP system of the company to confirm the safeguard for the company software.(McCafferty, 2017) Conclusion It is observed for the case study of Motherboards and More Pty Ltd that the company is facing problem in the operations of its sales due to improper infrastructure, which is unable to face the problems generated through its enhanced operation. The company has faced problem in the area of operations of sales, control of receivables, dispatch system and inventory management. The company has also constant threat of ransomware attack which is the threat for global business community. To mitigate those threat and weaknesses, the company has to rethink about the present work strategy of the company so far its operations management is concerned. Particularly the areas of credit policy, dispatch system and inventory management has to be refurbished in order to make weaknesses of those areas as their areas of strength. To combat the threat of ransomware attacks, the company has to fasten its belt so far its ICT solution is concerned. The ERP system is to be more secured by implementation of a vailable resources through which the company can ensure mitigation of risks related to ransomware attack to the computerised systems of the company. It is also to be understood that proper management can only be ensured through application of justified and logical solutions to accomplish the organizational objectives. The internal weaknesses can be well managed through proper implementation of operations strategies while for external threat; internal controls are to be made tight to ensure that the company can run business without problem to accomplish their corporate objectives. References: Brandom, R. (2017, 06 27). A new ransomware attack is infecting airlines, banks, and utilities across Europe. Retrieved 09 24, 2017, from The Verge: https://www.theverge.com/2017/6/27/15879480/petrwrap-virus-ukraine-ransomware-attack-europe-wannacry CSU. (2017). Retrieved 09 25, 2017, from Charles Stuart University: https://interact2.csu.edu.au/webapps/blackboard/execute/content/file?cmd=viewcontent_id=_1658545_1course_id=_25885_1 CSU, I. (2017). Revenue Cycle. Retrieved 09 25, 2017, from Charles Stuart university: https://interact2.csu.edu.au/webapps/blackboard/execute/content/file?cmd=viewcontent_id=_1658546_1course_id=_25885_1 Donald E. Kieso, e. a. (2017). Revenue Cycle. Retrieved 09 24, 2017, from AZCentral: https://yourbusiness.azcentral.com/accounts-generally-included-revenue-cycle-company-17373.html Kokemuller, N. (2017). Examples of COmpnay Weaknesses. Retrieved 09 24, 2017, from Chron: https://smallbusiness.chron.com/examples-company-weaknesses-69993.html McCafferty, J. (2017, 05 23). Five Preventative Controls for Ransomware Attacks. Retrieved 09 24, 2017, from MIS Training Institute: https://misti.com/internal-audit-insights/five-preventative-controls-for-ransomware-attacks Rouse, M. (2017). Malware. Retrieved 09 24, 2017, from Searchsecurity: https://searchsecurity.techtarget.com/definition/malware Solutiondots. (2017). ERP- Full for and meaning. Retrieved 09 24, 2017, from Solutiondots: https://solutiondots.com/blog/what-is-erp-full-form.html Times, F. (2017). ft.com/lexicon. Retrieved 09 24, 2017, from Financial Times: https://lexicon.ft.com/Term?term=credit-policy Tradegecko. (2017). Inventory Management. Retrieved 09 24, 2017, from Tradegecko: https://www.tradegecko.com/learning-centre/what-is-inventory-management

Compare and Contrast Essay Example

Compare and Contrast Essay Maternity, written by Lilika Nakos and The Lemon Orchard, by Alex La Guma both present an insight into the strengths and weaknesses of human nature. The teenage boy, Mikali, in Maternity stands for courage and determination, who tries at any cost to save his infant brother. Similarly, in The Lemon Orchard the protagonist is a man of great self-respect who retains his pride against great odds. The story is mainly about a black man who is to be beaten up by a mob of white men solely because he has dared to ask for justice. The ominous atmosphere established in this short story is primarily evoked through the use of symbolism. Despite the striking similarity, Maternity concludes on an uplifting tone, conveying that although racism leads to conflict it can also be an opportunity for a rewarding and enriching experience. There is always hope, and it takes unique situations to overcome racism, as well as compassion from people who know no barrier of creed, caste and colour. In contrast wit h the serious approach to racism is The All-American Slurp, written by Lensey Namioka. This is a humorous approach to a young girls encounter with a foreign culture. This short story playfully mocks culture groups who want to fit in, by watering down their own culture to adapt and feel accepted. All of these short stories equally attack the presumed values of society. Maternity initially opens by describing the living conditions of the Armenian refugees camp, with Nakos focusing on visual imagery to vividly portray the negative aspects of Mikalis existence. The conditions are miserable and unhygienic. Nakos uses the adjectives small and ruined to enhance the destitute atmosphere, whilst the rich live under tents, the rest of them sought shelter under carpets held up at four corners by sticks. The refugee camp, ironically still maintains the classes that exist in society. They are separated by, their economic and racial backgrounds. Lilika Nakos then portrays the suffering of the protagonist, Mikali in his search for food. When he eats the bread that is given to him, it weighed on him because he did not want to live on the charity from others, as he feels a sense of guilt. He wants to work and earn his living but is unable to work as he is burdened with the responsibility of his motherless infant brother. Thus, he is left to the mercy of his countrymen, though the wailing of the starved infant sickens them. We will write a custom essay sample on Compare and Contrast specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Compare and Contrast specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Compare and Contrast specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Everybody listened to it with irritation they had so many troubles of their own and they all pitifully wished it would die. The infant is no longer considered a baby, but a burden; and no longer a boy, but an it. The paradox pitifully wished reinforces the selfishness of the Armenians. Their famine and misery forced them to be selfish and bring out the worst in them. They are portrayed as brutish and oblivious to the negative consequences of their actions for their own people. As another alternative, Mikali decides to go to the Anatolians camp to seek help, evoking a reassuring hope that the torture will soon end. Their camp was like his the same misery. The hyphen metaphorically breaks the hope he once had and further accentuates the relationship between the two sentences. Yet the superficial and shallow mentality of the women in the Anatolian refugee camp quickly shatters his illusion. Instead of helping and giving sanctity, they reject the malnourished infant because of his looks. Holy Mother! said one of the old women, but its a vampire; a real vampire, that child. Even if I had the milk I still wouldnt have the courage to feed it. The irony is the fact that the women are actually discriminating themselves. Maternity means state of being a mother, motherhood with the whole story revolving around maternal affection depicting that being a mother alone is not sufficient but what is important is to have the nobleness of a mother. It is ironic, women are normally exhibited as mothers, and mothers are stereotypically meant to be affectionate and genuinely kind, however there is a reverse in roles: The Chinaman came to him and taking the baby in his arms, tenderly pressed it to him This wonderful contrast to the others; it highlights the love, warmth and forgiveness evoked by this particular man. The Chinaman retains his sense of humanity, whilst selfishness prevails amongst the women. The Chinamans wife is portrayed as the ideal mother, evokes culture warmth and etiquette as she accepts the child as it is. One parallel between Maternity and The Lemon Orchard is their use of tactile imagery and symbolism, which is so delicate, the reader, may not consciously recognize it, yet it helps immensely in creating the menacing atmosphere desired. Alex la Guma also wants to show the conflict between man and nature. So uses detailed description and pathetic fallacy to make the reader feel apprehensive and make the weather, scene and story fit together: there was a chill in the air; and the moon was hidden behind long, high parallels of cloud, which hung like suspended streamers of dirty cotton wool in the sky. In The Lemon Orchard the notion of chill and winter keeps circulating; it has a strong metaphorical significance, representing the indifference and coldness of the white man. On a very basic level, one can already note the significance for the use of night and dark imagery to portray a sense of secrecy and fear of the white men. On a further level, Alex la Gumas use of night imagery indicates the white mens blindness towards racism. It is almost like the moon senses something is not right and implies the emotion of fear, which both the characters are feeling. Ironically also a dog is intimidated by the white mens presence and stops barking, as they got closer. It is evident the white men are not welcome in the environment. Additionally, Alex la Gumas depth of nature gives the scene an air of imprisonment and claustrophobia as the men came down two long, regular rows of trees. The alliteration and the elongated vowel sound in regular rows of trees further reinforce the determination of the white men creating the rhythm of marching. The clouds are forming the same shape as the trees, hinting the sky is the mirror image of what is happening on the land. The whole environment is foreshadowing something negative that is about to occur. The men were walking through an Orchard of lemons and the sharp, bitter-sweet smell hung gently on the night air. The oxymoron stresses the brutality of man and tranquility of nature as Alex la Gumas use of the adverb gently further emphasizes the harmony in nature. The onomatopoeic harsh sounds in the torment of the black man reinforce the Negros willpower and pride to not give in to the white men. He shivered now with chill, clenching his teeth to prevent them from chatteringAre you cold, hotnot? the man with the light jeered. The colored man did not reply. He never answers any of the questions; ironically his silence is more powerful than the white mens guns. Paradoxically, the Negro is powerless, but in fact he is in control of the whole situation the white men are unable to force him to do anything. The short sentence, the colour man did not reply further emphasizes his power with its bluntness and brevity. What is even more ironic is, they are beating him because he talked back to the minister of the church and now the white men are demanding him to answer their question. The fact that the story ends and starts with nature gives a circular structure. Demonstrating that there will always be the presence of racism, prejudice and instant judgments occurring in society today creating the idea that racism is an endless struggle. Maternity and The Lemon Orchard both focus on racism through one individual and are written from an omniscient viewpoint. In The Lemon Orchard the individual is continuously referred to as the man, making him anonymous and universal it could be anybody as racism occurs on a regular basis. Both the protagonists, Mikali in Maternity and the Negro in The Lemon Orchard equally show a sense of stoicism and the pieces have the same underlying silent themes running through; segregation, social classes and humanity. The message that seems to surface in both these short stories is that racism destroys ones ability to be human. Distinctly different is The All-American Slurp, written by Lensey Namioka who writes the story with the diction, level of understanding and perspective of a Chinese child. This technique portrays the realism whilst also helping immensely in bringing out the irony. The young Chinese girl thinks that because she comes from a different ethnic background she that the American family will be less receptive and assume that they are weird. It is her hypersensitivity that makes it so difficult for her to fit in the American way of living as she does not want to disgrace herself. Mother picked up one of the green stalks, and father followed suit. Then I picked up a stalk, and my brother did to The mother is able to adapt, whilst the patriotic father is set in his own ways. The mother inverts the stereotype as she seems to be in control and her family looks up to her. Amusingly the Chinese family thinks the American family is primitive and backward and they are more advanced, however by the end the story highlights the endless similarities that often mark as differences. All of these short stories give the reader an insight in the flaws of human nature. Yet also helps the reader understand the concept that everyone is equal and entitled to the same amount of respect. These stories are voices to make people aware of what is happening to society and convey in a world of slander, ignorance and discrimination that there is always hope.

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How to Make Real Snow at Home

How to Make Real Snow at Home If you want to see or play in snow, but Mother Nature wont cooperate, you can take matters into your own hands and make snow yourself. This is the homemade version of real water ice snow, just like the snow that falls from the sky. What You Need You need the same things found in nature: water and cold temperature. You turn the water into snow by dispersing it into particles small enough to freeze in the cold air. WaterPressure nozzle There is a handy snowmaking weather tool that will tell you whether you have the proper conditions for making snow. In some climates, the only way youll be able to make snow is if you chill a room indoors (or you can make fake snow), but much of the world can make real snow at least a few days out of the year. Pressure Nozzle You have several options: Pressure washer (own or rent, use a fine mist nozzle or use a nozzle specially designed for producing snow)Snow cannon (not affordable to buy, but can be rented)Garden hose with a snow attachment (makes less snow per hour than the pressure washer or snow cannon, but still fun) Note: Simply using a mister attached to a garden hose isnt likely to work unless the temperature is very cold. The mist particles may not be small enough or far enough apart to turn water into ice. Fine Mist All you need to do is spray a fine mist of water into the air so it cools down enough to freeze into water ice or snow. Theres a technique to this. Spray at Angle   Youll get much better results if you point your water spray upward at a 45-degree angle rather than straight up. The amount of air you get mixed in with the water makes a difference, so you want to maximize this. Water Cold as Possible You also want the water to be as cold as possible, so water from a cold stream will work better than, say, heated water from your home. Impurities Are Good The water from a stream or river also has the advantage of containing impurities which can act as nucleation sites to provide a surface on which snow crystals can grow. Add a Nucleating Agent Its also possible to add what is called a nucleating agent to your water which will accomplish the same purpose, essentially allowing you to produce snow at slightly warmer temperatures. The nucleating agent typically is a non-toxic polymer. Snow machines for ski resorts can use this effect to make snow even if the temperature is above freezing. If your water supply naturally contains a bit of sand, this can help you make snow at slightly warmer temperatures than if you were using pure water. You need only a few hours of cold to make a lot of snow. The snow will last longer if the temperature stays cold, but it will take a while to melt even if it warms up. Use Boiling Water If the temperature outdoors is extremely cold, its actually easier to make snow using boiling hot water than cold water. This technique works reliably only if the temperature is at least 25 degrees below zero Fahrenheit (below -32  °C). To do this, throw a pan of freshly boiled water into the air. Easy and Spectacular It seems counter-intuitive that boiling water would readily turn to snow. How does it work? Boiling water has a high vapor pressure. The water is very close to making the transition between a liquid and a gas. Throwing the boiling water into the air offers the molecules a lot of surface area exposed to freezing temperatures. The transition is easy and spectacular. Protect Hands and Face While its likely anyone performing this process would be bundled up against the extreme cold, take care to protect your hands and face from the boiling water. Sloshing a pan of boiling water onto skin by accident can cause a burn. The cold weather numbs skin, so theres an increased risk of getting a burn and not noticing it right away. Similarly, at such a cold temperature, there is a significant risk of frostbite to exposed skin.

Macroecenomics Assignment Example | Topics and Well Written Essays - 500 words

Macroecenomics - Assignment Example The graph below shows some variations in the level of exports and imports made by the UK for the period of 1993 to 1998. The same trade and production pattern is observed when it comes to France, though both import and export levels for France are lower as compared to the UK. The major products exported by France are planes, helicopters, and spacecraft and vehicle parts. The major products imported by France are rude petroleum, refined petroleum and packed medicaments. The graph below shows the variations in the levels of imports and exports produced by France between the periods of 1985 to 2005. The same case of an increase in both level of exports and imports have been experienced in USA since 1973. This is due to the general increase in the level of demand as well as the GDP, increase in the level of imports so as to sustain the industrial growth and demand. Some of the major products exported by the Unites States are cars, refined petroleum and gas turbines while imports include cars, computers and broadcasting equipments. The graph below shows the variations of the sea foods imports and exports produced by the United States between the periods of 1997 and 2007. Between the periods of the year 1975 to 2013, the United States of America have an average GDP of $ 6145.56 billion. Since then it has had an average exports products of $1769.76 billion and imports products of $117.6 billion. We have observed a lower degree in the openness of the USA with respect to the United Kingdom and France since it some peculiar commercial policies. Unlike in the UK and France, the total amount US’s GDP is contributed less by its imports and exports. This lowers its market degree of openness as compared to the others. The inflation rate between 2013 and 2014 will be given by the slope of my graph, it will be given by: (2.4-2.2)/ (3.5-3.6)=0.2/-0.1=-0.2, meaning that in this

Reduce External Costs, Improve Products and People's Lives Assignment

Reduce External Costs, Improve Products and People's Lives - Assignment Example Aircon used to consume huge electricity but was minimize by inverter technology. The technology can be used in electric stove to minimize its energy consumption. b. Standardized induction technology – induction cookers are now being introduced in the market where electromagnet to heat iron or steel cookware (Severson). It is still however a little expensive but when demand increases, the product can be produced in scale driving the cost down both in terms of unit cost and energy consumption. c. Prolong product lifecycle – simply put, product lifecycle is the lifespan of the product. Product cost can be defrayed when the product cycle is prolonged because its cost is spread over the years of its use. When these three proposals are introduced into an electric stove, the energy consumption will be significantly lowered and the product will also last longer making a lesser ecological footprint. The product cost may be increase a little but this can be easily defrayed by its lower energy cost. Severson, Kim. "Is Induction Cooking Ready to Go Mainstream?."Â  The New York Times. The New York Times, 6 Apr. 2010. Web. 2 Oct. 2014.

Individual Project Unit 5 Essay Example | Topics and Well Written Essays - 750 words

Individual Project Unit 5 - Essay Example As the business evolves, it would seem likely that a large amount of physical paperwork and electronic data begins to accumulate due to internal operations, record-keeping for items such as payroll, and simply copies of literature which is distributed to employees routinely. Further, there may also be a large amount of information stemming from marketing efforts or even graphic illustrations (depending on the nature of the company). It is no longer practical in todays business environment to have mountains of storage space available for items including bulky manual payroll slips or six-year old manuals that no longer serve a practical purpose in the evolving office environment. Having offered this, it becomes absolutely necessary to create a system of databases to store and transfer these operations-related documents. Managing the information would require the implementation of some sort of computer and software system designed around the specific needs of the business environment. For example, if the company had too many manual documents to flip through in order to find out about last years inventory-related purchase, an electronic system would accomplish this goal in a fraction of the time with a simple search through data storage. This type of search would free up the day-to-day activity schedule of each employee, giving them much more time to attend to productive business activities and boost profitability. The intranet is a popular method today of managing the internal movement of information from one employee (or division) to the next (Nickels, McHugh & McHugh, 2005). After analyzing budget requirements, if the funds were available, purchasing such software could enhance operations greatly and boost productivity. The Internet can drastically improve the business environment as it provides a broader forum to communicate to potential customers and advertise the business. Marketing professionals tend to agree that Internet marketing has shown marked