The date is november 18 2009 you are the chief executive

Assignment Help Accounting Basics

Reference no: EM13588142

The date is November 18, 2009. You are the chief executive officer of Omega Software a publicly owned company that is currently in financial difficulty. Omega needs new large bank loans if it is to survive.

You have been negotiating with several banks, but each has asked to see your 2009 financial statements, which will be dated December 31. These statements will, of course, be audited. You are now meeting with other corporate officers to discuss the situation, and the following suggestions have been made:

3. We owe Delta Programming $5 million, due in 90 days. I know some people at Delta. If we were to sign a note and pay them 12 percent interest, theyd let us postpone this debt for a year or more.

Instructions: evaluate each of the proposals to improve Omega Softwares financial statements. Your evaluations should consider ethical and legal issues, as well as, accounting issues.

Reference no: EM13588142

Questions Cloud

Ted needs to put additional capital into his solely owned : ted needs to put additional capital into his solely owned corporation in order to comply with changes in his states

The ward county hospital center wchc wants to buy a new : the ward county hospital center wchc wants to buy a new mobile primary care van to use in screening residents in an

For february the cost components of a picture fram include : for february the cost components of a picture fram include 0.25 for the glass 0.65 for the wooden frame and 0.80 for

As it pertains to requirement 4 include the management : backgroundperformance drinks llc is owned by dave n. port. performance drinks produces a variety of sports centered

The date is november 18 2009 you are the chief executive : the date is november 18 2009. you are the chief executive officer of omega software a publicly owned company that is

The actual manufacturing overhead incurred at hogans : the actual manufacturing overhead incurred at hogans corporation during april was 64400 while the manufacturing

O 112010 jannison inc acquired 90 of techron co by paying : on 112010 jannison inc. acquired 90 of techron co. by paying 477000 cash. there is no active trading market for techron

The text states overly sufficiently long time periods net : the text states overly sufficiently long time periods net income equals cash inflows minus cash outflows other than

For the year ended december 31 2014 transformers inc : for the year ended december 31 2014 transformers inc. reported the following net income 180000 preferred dividends

User Account

All Pages