Finance & accounting – senior accountant analysis

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Note: While representative of possible situations faced by SunsTruck Sunglasses, all scenarios in this assignment are fictional.

Real Business

Large discount retailers like Target and Walmart employ large  teams of Finance and Accounting professionals to help measure and  understand the financial health of the business. Financial and  accounting information helps these businesses make educated financial  decisions, such as whether or not to continue partnering with a retail  supplier. While often smaller businesses, it is equally important for  these retail suppliers to use financial and accounting data to make  educated decisions, such as the best approach to gaining additional  funding.

Your Role

This week, you’ll assume the role of Senior Accountant with SunsTruck Sunglasses.

WHAT IS A SENIOR ACCOUNTANT?

Senior accountants take ownership of reporting costs,  profitability, margins and expenditures for a given business. They use  the principles of accounting to analyze sales information, create  financial reports, make recommendations about the financial health of  the company, and more. They are also responsible for training junior  accounting staff.

For the last six months, SunsTruck has partnered with the discount  retail store to run a pop-up sunglasses stand in their stores for a big  summer promotion. Due to the high customer purchase rate, the store has  requested stock for five additional stores. SunsTruck needs to increase  its capacity to meet the additional demand. In order to do so,  SunsTruck needs additional money.

In this assignment, you will need to help determine which type of  financing option is best for your company and train your junior  accountants on the accounting cycle and financial statements.

INSTRUCTIONS

Step 1: Financing

The junior accounting team has assembled a Financing Report that  (a) offers three options for securing the additional funds required to  meet the new order; and (b) details the criteria Shaun, the owner of  SunsTruck, would like you to consider when choosing one of the options.  Based on this report:

  • Identify which financing option you think is the best option  for SunsTruck to pursue given Shaun’s constraints. Explain the  rationale for your decision.
     

Note: You should complete Steps 2,3 & 4 after reading the material in Week 5.

Step 2: Accounting Cycle

A junior accountant is working to get everything in order for the  new financing and has come to you with a question about what do next in  the accounting cycle.

  • Read the email the junior accountant sent you and identify  the best next step to take in the accounting cycle. Explain your  reasoning.
     

Step 3: Financial Statements

A potential investor has been identified, but before it is willing  to commit, it has requested information about SunsTruck’s current debt  from the junior accountants.

  • Identify the correct financial statement for your junior  accountants that will provide the investor with the information it has  requested. Explain to your junior accountants why you are giving them  this financial statement and where the debt information is located.
     

Step 4: Financial Analysis

If you were the type of financier selected in Step 1, would you invest in SunsTruck? Explain the rationale for your decision.

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