Company specializing in sales and maintenance of the exotic

Assignment Help Accounting Basics
Reference no: EM13916866

Assignment

Exotic Cars Inc. (ECI) is a company specializing in sales and maintenance of the exotic (hence the name) cars. The cars that ECI sells come from multiple sources: some are shipped directly from the factories, other purchased from the private collectors, and yet some other cars are traded-in by the customers of ECI.ECI also provides a regular maintenance service of the exotic cars, such as engine tune-up, tire rotation, oil change, etc. You do not have to buy a car from ECI to use its maintenance service; consequently, some owners of the exotic cars purchased elsewhere also use ECI maintenance service.

ECI appreciates continuing business of its patrons; consequently, the company wants to maintain as much information about each valuable customer as it possibly can. As a result, ECI diligently records how much money each customer spends on buying cars (more than a half have purchased two cars and about third bought three or more), on maintenance service (how much customer spends overall, and per car), and whether or not a customer ever traded a car in.
Similarly, ECI maintains detailed data on all the dealers, companies, manufacturers, and other sources that provide the company with needed services, parts, or cars. ECI is not a "backward" organization, but things have been done there pretty much the same way since ECI was founded in 1966. Owners of ECI feel like it is about time not just to move forward, but "leapfrog" the competition. You have been hired by ECI to find a way of increasing the level of performance of ECI.

Organizational Structure of ECI

There are three operational locations of ECI; one in Washington, DC, second in Richmond, VA, and third in Virginia Beach, VA. Corporate headquarters located in Charlottesville, VA.
Every location has a general manager, which is responsible for authorizing/rejecting whatever requests area managers of that location may have. Normally, area managers only handle the issue relevant to their area, for example, sales/trade-in area has its own manager, body shop/repair shop has its own, and service area has its own area manager. Every area manager is authorized to make financial decisions up to $10,000.00. If the amount exceeds the limit of an area manager, then general manager of that location must authorize it- the general manager has discretion of making financial decisions of up to $100,000.00. If the amount exceeds this number, a request is send to the headquarters, where it is approved or rejected by a VP of the area (e.g., service, sales, and repair); a VP of the area is authorized to make a financial decision of up to $250,000.00. If the request exceeds this amount, it must be addressed by the CEO of ECI.

Project Description

Your goal is to develop a database that shall allow ECI to keep track of its business and provide the management with the following information regarding the performance of the business:
HR Management
> Complete information about ECI employees, especially salesmen and technicians
Inventory Management
> Complete information on the number and types of the cars currently kept in stock
> Complete information on the number and types of the cars obtained from each
source (factory, private collector, trade-in, etc.)
Maintenance Service Management
> Complete information on the number and types of the cars that were serviced.
> Complete information on maintenance record of each serviced car (car information, type of problem, owner, mechanic who performed the maintenance, and cost of maintenance)
Customer Service Management
> Complete information on every customer including information regarding their:
¦ Total spending on cars
¦ Total spending on service maintenance

Accounting

> Complete information on spending of every customer
> Complete information regarding what was paid to each vendor
> Complete information regarding what was received by ECI from the sales of cars
> Complete information regarding what was received by ECI from the maintenance service

Project Submission

You are going to submit the Course Project over the following sequence of steps (a single deliverable per step):
1. Course Project: ERD
2. Course Project: Normalized Data Model
3. Course Project: SQL code used to create your DB Schema
4. Course Project: Contents of the DB Tables
5. Course Project: Forms
6. Course Project: Reports

Reference no: EM13916866

Questions Cloud

What suggestions could you make for remedying the problems : Based on what you have learned in this chapter, describe several broad principles that could be applied in helping the individuals involved understand what went wrong in the following events. What suggestions could you make for remedying the probl..
Determine the amount of operating cash flows : Determine the amount of operating cash flows the company will report as received from customers in the current year
Should organizations take steps retain employees discipline : Should organizations take steps to retain employees with performance or discipline problems, or just fire them? Explain why. In the explanation, discuss how the value of personal development applies to this question.
Complete the analysis : Eric's Electronics is moving into new facilities and must determine whether it should retain or replace various fixed assets. Complete the analysis of each of the following transactions.
Company specializing in sales and maintenance of the exotic : Exotic Cars Inc. (ECI) is a company specializing in sales and maintenance of the exotic (hence the name) cars. The cars that ECI sells come from multiple sources:
Prepare the journal entries to create and close the warranty : Prepare the journal entries to create and close the warranty period for the contingent liability due to sales from February.
Identify the different types of forecasts : Identify the different types of forecasts that can be developed for use by a company. Cite examples of how a company might use a particular forecast method and explain why that type of forecast was best suited for that situation.
Recovery property : a calendar year taxpayer placed in service $100,000 of five-year recovery property. If this was in addition to another $250,000 of assets placed into service early in the year, it will be subject to: the mid-quarter convention. the mid-month conventi..
What does the abbreviation utc indicate : What does the abbreviation UTC indicate? (Use Google and search for UTC definition.) Internationally, time is shown with a 24-hour clock (sometimes called "military time").

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd