View Homework Help – Harnischferger Case from ACG at Florida International University. Harnischfeger Corporation 1. Describe clearly the accounting. Agenda Case Facts Strategy Analysis Accounting Analysis. Directions Read the “Harnischfeger Corp” case study and answer the following questions. Submit your completed assignment no later than the last day of Week .
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Rivalry is High – less harnischfeer ITG. Low High cost of establishing economies of scale High capital investment required Access to distribution channels is difficult Threat of new entrants is higher for ITG Treat of Substitute Products: Low Similar price and Performance Consumers willingness to switch products -Low. Depreciation is a method that reduces the value of capital assets over time Switch from accelerated to straight line retroactively Revenues Less: Pension Gain and rate of return Components of Pension Expense: Bad debt reserve is an estimate of accounts receivable that will not be collected.
Inan estimate of 6. Boost stock price to raise new capital Meet earnings targets for compensation Avoid violating debt covenants Improve image with customers, suppliers, etc. Internal pricing tied to external reporting numbers. Accelerated depreciation makes cost appear too high.
In accounting there is no such thing as absolute truth.
The same underlying reality can be accounted for using a range of assumptions. The earlier philosophy of this company was to choose the conservative alternative whenever there was a choice.
harnichfeger Now we have decided to change this. We would like to tell the world that we are alive and well. We wish to tell the truth but do not want to be overly conservative in doing so. As a company you coorporation to put the best foot forward if you want to raise capital, convince customers that you are a viable company, and attract talented people to work for the company.
I feel that the financial reporting should help rather than hinder the implementation of our operating strategy. In my opinion, the changed accounting format highlights the effectiveness of our strategy better than the old policies do.
When the outside world compares our financial performance with that of other companies, they may or may not take the time and effort to untangle corporatiion effects of the differences in financial policies that various companies follow.
My own cawe is that people adjust for the obvious things like one-time gains and losses but have difficulty in adjusting for ongoing differences.
In any case, these adjustments impose a cost on the user.
If people adjust for the differences in accounting policies when they compare us with other companies, then it should not matter whether we follow conservative or liberal policies. But suppose they do not adjust. Then clearly we are better off following the more liberal policies than conservative policies. I am not sure whether people make the adjustments or not, but either way we wish to present an optimistic version of the picture and let people figure out what to do with the numbers.
Thanks for being a serene listener. It is to determine risk from the balance sheet Presented by: Halsey In this chapter, we corporaion cover the four financial statements that are provided by companies to shareholders and other interested. C Prentice Hall, Inc.
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