Week 1 - Guillermo Furniture Store

Week 1 - Guillermo Furniture Store - Guillermo Furniture...

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Guillermo Furniture Store Scenario 1 Guillermo Furniture Store Accounting Scenario Jolynn Weeks ACC 561 Accounting February 16, 2011
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Guillermo Furniture Store Scenario 2 Guillermo Furniture Store Accounting Scenario Guillermo Navallez is a sole proprietor, running a furniture manufacturing business in Sonora, Mexico. The area that the business is located in fosters an environment suitable for furniture making since an abundance of timber and labor available. Guillermo is facing competition from a company located in Norway, which uses high tech equipment to keep labor and manufacturing costs to a minimum. Guillermo is faced with the new challenges as this competition grows. By using financial reports and making sound ethical decisions, Guillermo can evaluate his future position. Budget reports are excellent tools for planning. By participating in the budgeting process, Guillermo could easily identify factors that could potentially limit his business. Preparing budgets for the furniture business would identify working capital, cash, long-term and short-term expenses. The
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This note was uploaded on 07/18/2011 for the course ACC 561 taught by Professor Cole during the Spring '09 term at University of Phoenix.

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Week 1 - Guillermo Furniture Store - Guillermo Furniture...

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