Quiz 9: Informal Reports

Business

Date: April 15, 200x To: Ellen DeGeneres, President From: Carol Spice, Financial Analyst Subject: Description of job The report is concerned with informing the instructor about my experience in Deloitte LLP as a financial analyst. It provides several services such as consulting, financial advisory, auditing, taxation, and risk management. It is located in New York and its ownership comprises of Joe Echevarria who is the CEO and Punit Renjen who is the chairmen of Deloitte LLP. Position and tasks involved : The current position within the firm is that of a financial analyst where the main accountability of the employee lies with auditing financial data of a firm. The employee has to maintain data of the financial reports of its clients and analyze them. The faults in the files have to be audited by the employee and kept properly so as to check whether the data provided follow the generally accepted auditing standards (GAAS). They have to record the deviations and correct them to meet the final results. Required skills : An employee has to be thorough with the present generally accepted auditing standards (GAAS) and should be a qualified Certified Public Accountant (CPA). The employee should also have knowledge about International Financial Reporting Standards (IFRS). Experienced gained : By working in this field, an employee can gain experience for handling problems such as accounting files and handling auditing of financial files. This provides the employee with an added advantage to understand and easily recognize the minute faults existing in a file. This increases the efficiency and accurateness of an employee to work with any type of financial data worldwide. Please let me know if you have any position where I can use my skills to achieve your organizational goals.

DATE : November 9, 200x TO : Eric Stemlicht, President. FROM : Durene Washington, Development Officer. SUBJECT : Progress report on construction of Seattle Branch Office. The construction of Apex Realty's Seattle Branch Office has entered Phase three. Although we are 1 week behind the contractor's original schedule, the building should be ready for occupancy on March 10. Past Progress Phase one involved development of the architect's plans. This process was completed on June 5. Phase two involved submission of the plan's for county building department approval. Each of the plans was then given to the following 2 contractors for the purpose of eliciting estimates, Steven Duffy Construction, and Titan Builders. The lowest bidder was Steven Duffy Construction. Consequently, this firm began construction on July 15. Present Status Phase three includes initial construction processes. We have completed the following steps as of November 9: • Demolition of existing building at 11485 NW 27 Avenue. • Excavation of foundation footings for the building and for the surrounding wall. • Steel reinforcing rods installed in building pad and wall. • Pouring of concrete foundation. Steven Duffy Construction indicated that it was 1 week behind schedule for these reasons. The building inspectors required more steel reinforcement then was showed on the architects blueprints. In addition, excavation of the footings required more time than the contractor anticipated because the 18 inch footings were all below grade. Future Schedule In spite of the fact that we lost time in Phase 3, we are substantially on target for the completion of this office building by March 1. Phase 4 includes the following activities: • Framing dry walling • Installation of plumbing

Punctuations marks are used in the sentences to make it meaningful. It separates the sentences which explain the meaning of parts of sentences. 1. Informal reports lend to be short and informational formal reports, on the other hand, are mostly delivered in manuscript format and are usually analytical. 2. Our supplier has experienced labor shortages causing delays, however, we will do our best to deliver your order as soon as we can. (2.16 a, 2.16 d) 3. Business slows down to a crawl in Europe because of extensive vacations during the following months: June, July, and August. (2.17 a, 2.16 c) 4. Large American corporations that offer a variety of financial services are Bank of America and Citibank. (0) 5. As long as you observe the ethics guidelines in your company's employee handbook, you have nothing to fear from your next employee performance appraisal. (2.16 c) 6. A supermarket probably requires no short-term credit; a seasonal company such as a ski resort however typically would need considerable short-term credit. (2.16 b) 7. Wo offer three basic types: short-term lines of credit, commercial paper, and single-payer credit. (2.16 c) 8. Speakers at the conference on credit include the following businesspeople: Lynne Krause - financial manager American International Investments, Patrick Coughlin - comptroller NationsBank, and Shannon Daly - legal counsel Fidelity National Financial. (2.17 a) 9. Users must first establish an account on the company's e-commerce site and then they can order from the online catalog. (0) 10. Many methods are used to calculate finance charges for example average daily balance, adjusted balance, two-cycle average daily balance, and previous balance. (2.17 a) 11. Hot Topic, which is a small clothing retailer with a solid credit rating recently applied for a loan, however, Union Bank refused the loan application because the bank was short on cash. (2.16 a, 2.16 d) 12. When Hot Topic was refused by Union Bank, its financial managers submitted applications to Chemical Bank, Washington Mutual, and Wells Fargo. (2.16 d) 13. The cost of financing capital investments at the present time is very high, therefore, Hot Topic's managers elected to postpone certain expansion projects. (2.16 a, 2.16 c) 14. If interest rates reach as high as 18 percent, the cost of borrowing becomes prohibitive and many businesses are forced to reconsider or abandon projects that require financing. (2.16 c) 15. Many small stockholders invested in stocks when the markets were riding high, then they lost a lot of money after the markets declined. (2.16 c)

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