Finance and Accounting: Leveraging Resources

Finance and Accounting: Leveraging ResourcesINTRODUCTIONSomeone has to keep track of how a company is doing financially, and this is the basic role of accounting. In addition, someone must identify where the resources will come from to take advantage of opportunities; this is the role of finance. While measuring, tracking, counting, and projecting may not seem as exciting as developing new products and services, these are the critical functions that make it possible to manage and sustain all others.Later in your program, you may take other courses that more specifically explore the mechanics of finance and accounting, such as financial statement analysis and financial modeling. In this course, you focus on three higher-level issues:* The purposes of finance and accounting.* The roles of finance and accounting in business.* The importance of benchmarking, that is, setting standards for performance and measuring company success through analytic, quantitative comparisons.* This unit includes a study and assignment intended to help you take the next step on the course project: searching effectively and identifying credible resources for addressing the problem you have chosen.OBJECTIVES:To successfully complete this learning unit, you will be expected to:1. Explain the mission and purpose of finance and accounting.2. Conduct library and Internet searches to find scholarly resources appropriate for addressing your research topic.3. Refine your problem statement based on research.4. Examine the role of benchmarking in the financial evaluation of a business.Resource List:For this assignment, you will conduct library and Internet searches to find a minimum of five scholarly articles appropriate for addressing the research topic you have selected for your course project. You may use what you find in your research to further refine your problem statement.Preparation:Identify potential keywords appropriate for the problem statement you have chosen for your project.As you begin looking for resources, refine your keywords or search terms based on what you find. For assistance, review the second study in Unit 3, Online Research Skills: Finding Resources. Additionally, you may find these resources helpful:*View Get Critical Search Skills, linked in the Resources, and utilize the following links:*Select the best keywords.*Build your search.*Refine your search.Finding ResourcesIf you need help searching for scholarly articles to use in your research, visit the Find Scholarly and Peer-Reviewed Sources page, linked in the Resources. You can use search engines, such as the following, to locate and selected external sources:* Databases A-Z. From the All Subjects dropdown menu, select Business to find databases that include business-related journals.* Database Guide: Summon.* Journal and Book Locator.* Google Scholar.Instructions:Review the article abstracts, identifying the ideas and approaches addressed in each resource. Select those resources you think provide information most relevant to your problem statement. Remember, you also have a subscription to the Wall Street Journal that you obtained in Unit 1. This may be a useful source of information for you when compiling your resource list.Compile the results of your searches until you reach a minimum of five sources. Evaluate your research sources to make sure they are valid, in-depth, and current.Determine your strongest interests in your topic as well as any new information or trends that you find interesting and relevant to your project. Review your problem statement and refine it, based on the new information you have acquired as a result of your research.Include the following information in your assignment:* The problem statement you wrote for the Unit 5 assignment.* A list of sources that includes a minimum of five scholarly articles that directly addresses your refined topic.* Each article reference should be identified using a formal reference citation style. Use APA citation style to earn a grade of proficient.*Your refined problem statement, including the focus made possible by your research.* Use the following outline format for this assignment:1.Title: References Located to Support Project Research and Writing.2. Current version of your problem statement. Copy the problem statement you submitted in the Unit 5 assignment.3. References to support project research and writing. For each of the five references: *Format the citation in a consistent style, with a preference for APA style and formatting. *Describe why this resource is relevant and useful for your research.4. Based on your research, did you make changes to your problem statement? *I did not make any revisions to my problem statement based on my research: indicate Yes or No. *I revised and made the following changes to my problem statement based on my research: indicate Yes or No. *If you made revisions to your original problem statement, type your revised problem statement.Submission Requirements* Written communication: Written communication is free of technical errors that detract from the overall message.* References: References and citations are formatted in a consistent style, with a preference for APA style and formatting.* Number of resources: Minimum of five scholarly resources.* Length of paper: Approximately two typed, double-spaced pages.*Font and font-size: Times New Roman, 12 points.TRANSCRIPT….ANALYZING FINANCIAL PERFORMANCENarratorIt has been six months since RPZ Social Media Analytics acquired Genaflek Marketing and formed the new company called RPZ Marketing.Today, CEO Regina Poincy Zimmerman has asked you to sit in on a meeting with Daman Johnson, the Director of Accounting and Finance. Regina and the other executives have been looking at the end of year financial results and analyzing the operational costs of the acquisition and transition to a single company.ReginaHi! Come on in. Daman and I were just talking about some of our end of year numbers.DamanRegina, that is one of the things I wanted to talk to you. The expenses associated with marketing conventions and other industry events. The expenses of RPZ Marketing are more than double of those of RPZ Social Media Analytics or Genaflek.ReginaI know. Generally, we have been sending two consultants to each event.DamanAnd those expenses add up quickly. Multiple plane tickets, hotel rooms, expense accounts.ReginaBut I do not see any way around these additional travel expenses – at least not until we make some other changes in the organization. We need to be able to send a social media marketing specialist along with a more traditional marketing specialist to each convention.DamanIs that absolutely necessary?ReginaI do not know, Daman. I know it is expensive, but if we do not send multiple specialists, we are not representing the full package of what RPZ provides.DamanWell, what would it take to send just one specialist, just some of the time?ReginaWe would need to train more consultants to be trained in all areas. We have already trained a few Genaflek consultants on social media marketing skills. But I hesitate to train too many more because as you know, our training budget has also skyrocketed.DamanIt certainly has. Training consultants to do it is very expensive.ReginaYes, it is, and so is spending multiple people to conferences! I just do not know what to take away from this!DamanWell, mergers are expensive. And sometimes they are expensive in ways that are not immediately apparent. Let us talk about some of the other numbers, and we will get back to this particular dilemma.ReginaBut hey, what do you think? Do you have any suggestions?CREDITSSubject Matter Expert:Jennifer HerreraGoogle Scholar is a great resource for identifying scholarly sources for use in your research. You can find Google Scholar at: http://google.scholar.com. However, as with all resources, there are tips you should know to get the best results.The following are some resources that discuss ways to use Google Scholar.1. 8 Winning hacks to use Google Scholar for your research paper, Editagehttps://www.editage.com/insights/8-winning-hacks-to-use-google-scholar-for-your-research-paper?refer=scroll-to-1-article2. Google Scholar: the ultimate guide, Research and Writing Guideshttps://paperpile.com/g/google-scholar-guide/3. Google Tips & Tricks: Google Scholar, The University of Rhode Islandhttps://uri.libguides.com/google/gschol4. 11 Best Tips on How to use Google Scholar (2020), Helpful Professorhttps://helpfulprofessor.com/google-scholar/

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