Part 1: Minimum of 250 words

Examine the five (5) steps to managing accounts receivable. Speculate on the step that is most vulnerable to fraud. Suggest at least two (2) actions that a company can take in order to protect this step from fraud.

Imagine that your company has tasked you with developing a plan for factoring accounts receivables. Create one (1) scenario that demonstrates the key benefits and / or detriments to your company from factoring accounts receivable.

Part 2: Please respond to the below and give your opinion on the response. Minimum 200 words.

The (5) steps to managing accounts receivable are (1) Determining who to extend credit to (2) Establishment of payment period (3) Monitor collections (4) Evaluate liquidity of receivable (5) Accelerate cash receipts from receivable when necessary. The most vulnerable step of the 5 steps to managing accounts receivable against fraud is the ‘extending of credit.’ If this step is compromised, the other steps usually don’t have a chance. If the extension of credit has been extended to an unreliable customer due to ‘false representation’, setting up a payment plan would be policy and procedure but it will be in vain also because it won’t be paid. But, two actions a company could take to protect against this is to (1) run credit checks to determine if a receipent is reliable in paying his/her bills on time and (2) request bank references on behalf of the new customer. This protects cashflow. In doing these two things, you are ensuring that (a)the customer pays his/her bills on time and (b) if the customer happens to default on a payment(s), which is highly unlikely, the responsibility to pay the balance is shifted to the third party (the bank).

The key benefit is usually the recovering of 80 to 85% of your accounts receivable by factoring invoices to a third party. The detriment of this is that the company still loses on a smaller scale because account receivables are not paid in full to the original creditor. In my opinion, it’s a double-edge sword and there is almost always a waiting period to collect, even it the waiting period is short. “The balance, less the factoring charges is paid one the FACTORING COMPANY RECEIVES payments from your customers (Cole-Ingait, 2018). The scenario I would use to display the example is that of an insurance company and the insuance agent. For instance, the insurance agent is fronted $4,000 by the insurance company to jumpstart his/her business as an insurance agent. Written in the contract is the agreement that disbursed funds will be repaid by the receiver on a month-to-month basis until payment is cleared. The agent decides the commissioned based career is not for him and resigns. After noticing the loans hasn’t been repaid, a third party is assigned to collect the funds from the former agent. Once collected, 80 to 85% of the receivable will go to the insurance company, the rest goes to the third party collection agency.

QUESTION NO. 1:

FACTS:

Carl Lucas is an at-will employee at POP’s Barbershop, LLC.Pops is the sole owner of the barbershop and employs Kay, J.B. and Wally.Cordell Stokes is the owner of Uptown Distributors, LLC.During their workday at POP’s, Kay, J.B. and Wally take the company van to pick up distribution items (50 boxes) for POP’s from Uptown Distributors, LLC. While picking up boxes for POP’s they also intentionally take 50 boxes of merchandise that belonged to Manny Martinez and accidentally took 50 boxes of merchandise from another customer, Misty.You have been hired to represent the legal interests of Cordell Stokes?What actions do you take on Mr. Stokes behalf and against whom?What if you were hired to represent POP’s?What actions would you take on his behalf and against whom?What if you were hired to represent Misty?What actions would you take on her behalf and against whom?

QUESTION NO. 2:

On Monday, February 1, after a seven-day snow storm compiling up to 18 inches of snow, Tyson took his daughter, Tiana, age 7, to her elementary school in Baltimore City.Because of the number of days that it snowed, the only areas that were plowed were the roads, parking lots and some, but not all sidewalks.As did most parents that drove their children to school, Tyson parked in the school parking lot and walked Tiana to the school building using the sidewalk.While walking Tiana on the sidewalk, she ran away from him to play in the snow pile near the door’s entrance where other students were playing and building snowmen.Tyson chased after Tiana and slipped and fell on black ice on the sidewalk, fracturing his hip.

USE IRAC for this scenario.

QUESTION NO. 3:

On Saturday, August 20^th, John and Jeff purchased a food truck delivery truck for their recently started business from an auto auction in Pennsylvania.The name of their business was AB’s Food Delivery, Inc., which operates in Baltimore, Maryland.The truck was an older model white truck with no markings on the side; and because they just purchased the vehicle, they only had temporary tags.While driving from Pennsylvania to Maryland, it started to rain heavily and they were forced to the side of a road near Hunt Valley, Maryland because the windshield wipers on the van were inoperable.Thus, John and Jeff sat in the van waiting for the rain to cease. About 30 minutes prior to John and Jeff pulling over, an older white van that was reported stolen was used in an armed robbery of a bank in Baltimore, Maryland.There were 4 masked men involved in the robbery and during the escape from the bank, the armed security guard was shot in the head by the robbers.The white van was reported as last being seen headed north towards Pennsylvania.A dispatch was sent to all law enforcement officers.Officer Johnson received the dispatch and he, as were all other officers, were on the lookout for a white van with 4 masked men.While driving in the heavy rain, Officer Johnson observed the white van that John and Jeff were in pulled over on the side of the road.Officer Johnson initially drove by the vehicle and attempted to look into the vehicle and saw two people not wearing masks sitting in the front two seats.Officer Johnson could see nothing else.Officer Johnson circled back and pulled up about 50 feet behind the van.John and Jeff did not see Officer Johnson pull up behind them.In fact, both John and Jeff had fallen asleep in the van.Officer Johnson called for back-up officers by stating “possible suspect van” located; and then approached the van. When Officer Johnson walked up to the passenger’s side of the window, he tapped on the passenger’s side window with his gun drawn, which startled John, who was seated in the passenger seat.Officer Johnson instructed John to step out of the vehicle with his hands up, which John did.Officer Johnson then instructed conducted a pat-down of John for weapons and found nothing but about $5000,00 in cash rolled up in John’s back pocket in a rubber band.Officer Johnson then instructed Jeff to step across the passenger’s side of the vehicle to exit on the passenger’s side of the van.As Officer Johnson was instructing Jeff to exit, Officer Arrington pulled up and observed Officer Johnson instructing Jeff to exit. Officer Arrington pulled his weapon out and approached the location where Jeff was exiting the van.As Jeff was exiting the van, he tripped over a tool in the passenger side and fell forward towards Officer Johnson.Officer Arrington immediately shot Jeff five times in the chest.Jeff died instantly.

USE IRAC for this scenario.

Original Question: Describe the “Life Cycle Management” process and define some of the critical program events. Additionally, we’ll use this week to discuss your week four abstract.

STUDENT 1: Michael

Life cycle management occurs from the cradle to the grave.The life cycle management process begins with identifying user needs, includes research; development; production; deployment; support; upgrade, and concludes with demilitarization and disposal.The costs during each of these phases are considered life cycle costs.Once a need for the end user has been identified, then the solution must be defined.Research defines the what and begins to form a how of the resolution of the battlefield deficit.The how continues to be resolved in the development phase as the product is defined.The production phase occurs in the actual creation of the solution.The product then finds its way back into the hands of the end user, and this process is defined by deployment.Support and upgrade occur during the use of the product.Here, a product is maintained and improved.This includes everything from technical support to modernizing an older technology.When a solution becomes obsolete it moves to the end of its life cycle, in demilitarization and disposal.

The life cycle process occurs when it moves through material analysis and then passes through milestone A.Once milestone A has been passed technology development leads us to milestone B.This is the pre-systems acquisition phase, and here the initial capabilities document is built.Completion of this begins system acquisition.Milestone B is the pivot point into this section.It is the true program initiation.It includes, engineering and manufacturing development, production, and deployment.This portion of the acquisitions process will bring a program through milestone C and IOC.The Capabilities development document is completed and the Capability Production Document (CPD) is initiated.Achieving full operational capability is the flag which signifies a shift into sustainment.Sustainment continues to develop the CPD and includes operations and support.

My abstract for this week will focus on an article which first appears to be about the USPS, but the article continues on to address how the executive and legislative branches of government function in regards to the acquisition processes, focusing on regulation.Additionally, it touches on DoD policy and how it is blended into the acquisitions regulation process.I usually try to find articles which are relevant to the course objective.Usually this is easy.To find an article which wasn’t simply a scribed congressional hearing, about something other than ethics, and was peer reviewed was excellent.

STUDENT 2: Adam

Joint programs are managed within the defense acquisition management life cycle framework described in DoD Instruction 5000.2, Operation of the Defense Acquisition System. The instruction provides the policies and principles that govern the defense acquisition system and forms the foundation for all DoD programs that include weapon systems, services, and Automated Information Systems.

This framework contains decision points and phases of the life cycle to assist in the management of all acquisition programs. Joint PMs structure their program to best accomplish the objectives of the defense acquisition system: to acquire quality products that satisfy the warfighter’s needs with measurable improvements to mission capability and operational support, in a timely manner, and at a fair and reasonable price.

The phases and critical events in the lifecycle management are; materiel solution analysis phase, Milestone A, technology development phase, Milestone B, engineering and manufacturing development phase, integrated system design, post-critical design review assessment, system capability and manufacturing process demonstration, Milestone C, production and deployment phase, low-rate initial production, full-Rate production decision review, full-rate production and deployment, then lastly the operations and support phase. As you can see there are a lot of steps to make an object fully functional.

Weekly Abstract:

Contracting Issues: Are Owners Getting What They Ask for?

Are you an owner that, “has problems with your competitively bid contracts, or your contract results unpredictable or perhaps predictably variable? Do you feel that as the owner you have little control over contract results?” In this article they review some ways to eliminate these contracting issues to help better you as the owner.

STUDENT 3: Tyler

Good evening class,

This week we are to describe the life cycle management process and discuss our abstract. The life cycle management process consists of multiple phases that are then separated into milestones. These milestones provide the project manager a general idea in which to review programs, monitor progress and make corrections. The phases of the life cycle process consist of research, development, production, deployment, support, upgrade, and demilitarization and disposal. Research is done to provide insight on what user needs are, and what technology and resources are available to implement a product or program to meet user needs. There are three categories that include pre-systems acquisition, systems acquisition , and sustainment. Pre-systems acquisition is comprised of material solution analysis, material development decision, and technology development. All of this has to be approved in the initial capabilities document.Materiel development decision is the formal entry into the acquisition process. The materiel solution analysis provides insight on the best way to achieve the most efficient and effective system solution and provides innovation and competition. After the materielsolution analysis is milestone A, followed by the technology development phase. This phase reduces technology risk and determines the appropriate set of technologies to be implemented. This is then followed by milestone B and starts the engineering and manufacturing development phase. This is followed by milestone C and then into initial operational capability and final operational capability. This includes production and development, followed by operation and support/sustainability.

My abstract will be on legal ethics in acquisitions and contracting. I found a paper from the college of business at Athens State University that explains why doing the right thing matters. It also lists issues associated with unethical behavior in acquisitions and contracting.

PART C- Please follow instructions, don’t add anything extra, just provide the information that is asking.

The project is a series of elements where you will examine the
current standing of an organization’s compensation system. In the final
element of the training program, you will provide recommendations to
the organization on how the compensation program can be improved.

Directions

Students will conduct an analysis on the current state of the compensation system and address the compensation of special groups including executives, role of unions in compensating the employees, any international compensation, and any other extraordinarily compensation elements that impact this organization. Reference should be made to these different factors that impact the organization.

The body of the paper will be 4-5 pages. This does not include extraneous pages like title page, reference page, appendices. APA formatting standards are required. A minimum of 5 scholarly resources need to be used. An example of a scholarly resource can be an interview with an HR professional or a peer reviewed article from a University Library Journal Database. Course materials and personal experience do not count. A formal third person tone is required.

Supplemental information (e.g. worksheets that are currently being used) can be presented in Appendices but do not count toward the body of the paper.

Note: Recommendations should not be made at this point – you will make these later in the term. This is an analysis of current standing. Keep in mind however, if an organization doesn’t have a labor union, the paper doesn’t end at that point. Student needs to include a discussion of the different extraordinary elements of the compensation system. Again, recommendations will be made later in the term.

The topic you chose:

Topic: The effectiveness of McDonald’s compensation strategy in maintaining job performance and moderating burnout

Sources:

Alessandri, G., & Borgogni, L. (2015). Stability and Change of Job Performance across the Career Span. Human Performance, 28(5), 381-404. doi:10.1080/08959285.2015.1021047

Emerson L., Prang Y. (2016) Compensation and Benefits: Company-Provided Benefits at McDonald’s. In: Zeuch M. (eds) Handbook of Human Resources Management. Springer, Berlin, Heidelberg

Lăzăroiu, G. (2015). Employee motivation and job performance. Linguistic & Philosophical Investigations, 14, 97-102.

McDonald’s (2018). Pay & Rewards. McDonald’s. Retrieved from http://corporate.mcdonalds.com/mcd/corporate_caree…

Patil, A., & Syam, N. (2018). How Do Specialized Personal Incentives Enhance Sales Performance? The Benefits of Steady Sales Growth. Journal Of Marketing, 82(1), 57-73.