HMD450 Accounting and Finance Research Paper
HMD450 Accounting and Finance Research Paper
The purpose of this assignment is to discover the different types of financial reporting procedures within your internship company. You will compose a minimum 500-word paper to discuss your findings.
Select a manager who directly supervises you or one that you have observed managing employees where you are interning and interview them for this assignment.
Complete independent research to support your discussion of the paper topic. A minimum of three external sources from textbooks and/or UNLV Library peer-reviewed journals is required.
- A description of the operation and its clientele
– It is a Japanese-Hawaiian fusion restaurant with about 30 seats located near Spring Mountain road. There are lots of Asian restaurants located at Spring Mountain, and Mom’s Teriyaki has its specialty by having unique take-out section and attention to details on its bento boxes with reasonable price range. Menu of Mom’s Teriyaki includes chicken plates, Japanese salad and appetizers, bento boxes with different choice of meats, and rice bowls. Overall mood of the restaurant is casual with little noise and is decorated with Japanese interior items like Maneki Neko sculpture. Hours of operation is from 11:00 A.M to 9:00 P.M, and it is closed on every Sunday. Since there is no alcohol serving, and each menu-item is prepared quickly, there is high seat turn-over rate for tables. Customers are various, usually local customers who are looking for quick lunch and dinner, or workers who want to take-out foods for their work.
| Reporting Procedures. Discuss the following reports: Food costs/Labor costs/Other costs Sales reports Forecast reports |
| Payroll Policies and Procedures Is there an HRIS or payroll system in use Discuss how payroll is administrated and who is in charge of payroll How often are employees paid |
| Describe the annual budget process |
| How does the organization measure their financial success |
Submission and Formatting Standards
Attach a WORD document or PDF file for your submission. Please note the following paper standards:
| Minimum of 500 words (use Word Count under Microsoft Tools to ensure your submission meets the length standard). Submission Information (name, assignment name, etc.) or references do not count towards word requirement. |
| No typographical or grammatical errors |
| Double-spaced |
| 1-inch margins on the top, bottom, left, and right |
| 12-point font (Arial or Times Roman) |
| Headings and, if appropriate, sub-headings used to help organize paper |
| Introduction with thesis sentence and a “roadmap” that lets the reader know the subject of your paper |
| Conclusion that summarizes your paper and reminds the reader what your paper was about |
| Citations for any ideas not the student’s own are fully and accurately cited so a third party can easily find the original source (APA format) |
Answer preview
There are different financial reporting procedures in Mom’s Teriyaki, located on Spring Mountain road. The restaurant operates from 11.00 A.m. to 9.00Pm and is closed on Sundays. The primary financial reporting procedures are Food costs/Labor costs/other costs, Sales reports, and forecast reports. The costs analysis report helps the management to consider essential decisions about operations. In the restaurant set-up, management of cost is a significant move to maximize on the profits (Gordon, & Brezinski, 2016). For this technique, the restaurant has adopted to using activity-based costing as a means to maximize their profits. Sales reports constitute another essential report in the intern company (Redman, Bridgette, 2019, January 31). The primary objective is to ascertain the revenue trends within the organization. A forecast report is another important technique that will help the company to define the primary targets. Mom’s Teriyaki has a proper mechanism for the preparation of financial statements since the cost financing, sales, and forecast reports form a primary part of the organization operations.
Food costs/Labor costs/other…
(750 words)