Entry (Set Up)
Shipping and Withdrawal Activities Order Receipt
Financial Reports Order Tracking
Order Shipping
Fixed Assets (FA) Order Invoicing
Equipment Files Order Reports
Cost Calculation and Distribution Bar Code Reading
Fixed Assets Reports
Manufacturing Management
Budgeting Product Costing
General Budgeting Master Production Scheduling (MPS)
Review Process Material Requirements Planning (MRP)
Construction of New Budget Capacity Requirements Planning (CRP)
Shop Floor Control
Multinational Accounting Quality Control
Basic Information
Currency Rate Tables Product Technology
Transaction Entry Control and Audit
Gain/Loss Reporting Operational Functionality
Financial/Management Reporting Technology Reports
Riordan Manufacturing System
The following systems are linked to the Accounting and Finance Systems. These subsystems are essential to Riordan management to aid in the decision making process. Managers are able to measure the reporting costs of production,
Marketing, preparing budgets (planning), and verifying that units are adhering to their budgets. Future strategies to minimize taxes are also dependant upon these systems.
1. Marketing Information System
• Historical Sales
• Sales Database
• Production Records
• Marketing Budgeting
2. Human Resources Information System
3. Operations Inventory Management
4. ERP Manufacturing and Distribution
III. Riordan Manufacturing Income Statement
Riordan Manufacturing, Inc.
Income Statement
For the 12 months ending September 30, 2005
2005 2004
Sales $50,823,685 $46,044,288
Direct Cost of Goods Sold $42,037,624 $37,480,050
Gross Margin $8,786,061 $8,564,238
Operating Expenses
Sales, Marketing & Other Expenses $1,012,974 $920,886
Depreciation $343,445 $349,937
Quality Assurance $1,139,688 $1,095,854
Research & Development $911,676 $828,797
General & Administrative $1,706,953 $1,524,066
Machining & Systems
Total Operating Expenses $628,505
$5,743,241 $598,576
$5,318,115
Profit Before Interest & Taxes $3,042,820 $3,246,122
Non-Operating Expenses
Interest Expense $143,175 $230,221
Taxes $943,274 $1,025,406
Total Non-Operating Expenses $1,086,449 $1,255,628
Net Profit After Taxes $1,956,371 $1,990,495
Income Statement Analysis
Revenue has increased year over year 10.38% from $46,044,288 to $50,823,685. Cost of Goods Sold has increased year over year 12.16% from $37,480,050 to $42,037,624. Gross Margins have risen 2.59% year over year from $8,564,238 to $8,786,061, however, Gross Margin of Sales have declined from 22.85% in 2004 to 20.90% in 2005.
Total Operating Expenses have risen year over year 7.99% from $5,318,115 to $5,743,241. Profit Before Interest & Taxes have declined by 6.26%
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