Entrep FInals

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Effocoemcy, Economy and Effectiveness

Good operations management, supervision, and control should focus on:

Recruiting, Reviewing, Rewarding, Retooling, Recycling, Resonating, Retaining and Routing

8 R'S OF HR

Balance Sheet

A financial statement that summarizes a company's assets, liabilities and shareholders' equity at a specific point in time. and owes, as well as the amount invested by shareholders.

Horizontal Analysis/Time Series Analysis

A procedure in fundamental analysis in which an analyst compares ratios or line items in a company's financial statements over a certain period of time.

Machines

A type of technology in the form of hardware.

Methods

A type of technology in the form of software.

Financial Statement

An abstraction of all the business transactions going on in an enterprise

Current Assets

Assets convertible to cash within a relatively short period of time.

Fixed Assets

Assets led by land, which is the most saleable among them.

Quality Control

Before the input is accepted by the transformation process, it must conform strictly to certain QDP specifications.

Finance Plan

Brings the overall corporate vision, mission and policies and the corporate financial objectives and performance indicators together.

Recruiting

Choosing the right people

Pre-operations

Concerned with designing and developing the EDS.

Throughput

Conversion of input into output

Type of Liabilities

Current Liabilities,Long-Term Debts and Owners' or Stockholders' Equity

Types of Assets

Current and Fixed assets.,

Enterprise Delivery System (EDS)

Delivering products and services to customers to meet or surpass their expectations

Manpower

Enables the entire transformation process to operate by manning the machines or rendering the services required.

Money

Ensures that the physical facilities are set up, employees are hired, and operating systems are installed.

NEGOTIATING AND DEAL MAKING, ADMINISTERING, NUMBERS GENERATION, ANALYSIS AND REPORTING AND CASH AND TREASURY MANAGEMENT

Finance person is in charge off

•Financing •Investing •Negotiating and Deal Making •Administering •Numbers Generation, Analysis and Reporting •Cash and Treasury Management •Evaluating and Planning (FINANCE)

Financial Function involves 7 important processes

Output

Goods made, or services rendered/Product.

Types of Income Statement Analysis

Horizontal Analysis and Vertical Analysis

Gross Profit

If one subtracts Cost or Goods sold from the sales figure.

Operations proper

Implements and runs the factory or service shop that converts the input into output.

Materials

Input that must be converted to the final output.

Vertical Analysis

Is a method of financial statement analysis in which each entry for each of the three major categories of accounts, or assets, liabilities and equities, in a balance sheet is represented as a proportion of the total account.

EVALUATING AND PLANNING

It converges everything into a coherent and comprehensive enterprise evaluation process and a corporate and financial plan that will guide the strategies and action programs of everyone in the organization toward a unified vision and toward peak corporate performance.

Recycling

It gives people the chance to change jobs/careers.

Rewardiing

It is concerned about compensating and recognizing employees for their work, loyalty, and accomplishments.

Funds Flow

It is prepared to explain the changes in the working capital position of a company.

Retaining

It is the ability to hold on to people, provided that the company wants to keep them in the first place.

Resonating

It's about motivating,empowering and energizing people.

Reviewing

It's all about measuring and evaluating your employees' performance with the organization's goal in mind.

Post-operations

Manages the logistics of warehousing, distributing, and delivering the finished product/s to the customers.

Income statement

One of the most easily understood financial statements

Owners' or Stockholders' Equity

Owners do not intend to get paid back by the enterprise, but definitely expect to receive dividends over the course of the enterprise's economic life.

Input

Resources Mobilized

Management

Should also come ahead of other M's in order to design and develop the transformation process.

Cash Flow

Shows how changes in balance sheet accounts and income affect cash and cash equivalents, and breaks the analysis down to operating, investing and financing activities.

Profit and Loss Statement

Summarizes the revenues, costs and expenses incurred during a specific period of time, usually a fiscal quarter or year.

Money, Management, Machines, Methods, Materials and Manpower

The Six M's:

Finance Person

The corporate planner who assesses where funds should go, and what action programs should be undertaken

Cost of Goods Sold (Cost of Sales)

The cost of making the product itself or of delivering the services directly to the customer.

The OWF must be very efficient in terms of time, movement, and utilization of resources.and must be balanced capacity-wise.

The guiding principles dictate the OWF

EVALUATING AND PLANNING

The logical continuation of the financing, investing, negotiating, administering, numbers generation, and cash management functions.

Period Cost

The selling, general and administrative expenses.

Operating Work Flow (OWF)

The step-by-step process of sourcing and storing the input.

Operating Systems and Procedures

These are the enterprise standards for running the entire operations.

Quality expectations,Delivery expectations and Price expectations

Three Customer Expectations that define the EDS

Pre-operations, Operations proper and Post-operations

Three phases of managing and controlling the EDS

Retooling

Transforming people to higher levels of performance.

Product Cos and Period Cost

Two Types of Cost

Routing

When people are hired, their potentials must be assessed as to their ability to contribute to the organization in various responsibilities

Work-in-process inventory

When raw materials are in the process.

Operation managers and supervisors

Who orchestrate and control the entire EDS.

Long-Term Debts (Notes Payables)

financial obligations that are payable after one year.

Product Cost

the cost of making the product.

Current Liabilities

these are financial obligations that must be paid within one year.

Finished Goods Inventory

when the goods are completed


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