Read the case study at the end of Chapter 1, “Approaches to Forecasting” and answer the following questions. Respond substantively to at least two of your classmates’ postings.
Case study #1
1. Approaches to Forecasting
Fish King Restaurants, a well-known restaurant chain in the Midwest, is in the initial stages of preparing its annual forecast for 2007. Kevin Vieden has recently joined Fish King’s accounting staff and wants to learn as much as possible about the company’s forecasting processes. During a recent lunch with Scott Bruce, restaurant manager, and Brenda Clement, sales manager, Kevin initiated the following conversation:
Kevin: Since I’m new around here and am going to be involved with the preparation of the annual revenue forecast, I’d be interested to learn how the two of you estimate sales and production numbers.
Brenda: We start out very methodically by looking at recent history and discussing what we know about current accounts, potential customers, and the general state of consumer spending Then we add that usual dose of intuition to come up with the best forecast we can.
Scott: I usually take the sales projections as the basis for my projections. Of course, we have to make an estimate of what this year’s closing inventories will be, which is sometimes difficult.
Kevin: Why does that present a problem? There must have been an estimate of closing inventories in the forecast for the current year.
Scott: Those numbers aren’t always reliable, since Brenda makes some adjustments to the sales numbers before passing them on to me.
Kevin: What kinds of adjustments?
Brenda: Well, we don’t want to fall short of the sales projections, so we generally give ourselves a little breathing room by lowering the initial sales projection anywhere from 2 to 5 percent.
Scott: So you can see why this year’s forecast is not a very reliable starting point. We always have to adjust the projected production rates as the year progresses and, of course, this changes the ending inventory estimates. By the way, we make similar adjustments to expenses by adding at least 10 percent to the estimates; I think everyone around here does the same thing.
Kevin, Brenda, and Scott have described the use of what is sometimes called forecasting slack.
Why Choose Us
At Myhomeworkwriters.com, we always aim at 100% customer satisfaction. As such, we never compromise o the quality of our homework services. Our homework helpers ensure that they craft each paper carefully to match the requirements of the instruction form.
Professional Academic Writers
With Myhomeworkwriters.com, every student is guaranteed high-quality, professionally written papers. We ensure that we hire individuals with high academic qualifications who can maintain our quality policy. These writers undergo further training to sharpen their writing skills, making them more competent in writing academic papers.
Our company maintains a fair pricing system for all academic writing services to ensure affordability. Our pricing system generates quotations based on the properties of individual papers.
My Homework Writers guarantees all students of swift delivery of papers. We understand that time is an essential factor in the academic world. Therefore, we ensure that we deliver the paper on or before the agreed date to give students ample time for reviewing.
Myhomeworkwriters.com maintains a zero-plagiarism policy in all papers. As such, My Homework Writers professional academic writers ensure that they use the students’ instructions to deliver plagiarism-free papers. We are very keen on avoiding any chance of similarities with previous papers.
Customer Support 24/7
Our customer support works around the clock to provide students with assistance or guidance at any time of the day. Students can always communicate with us through our live chat system or our email and receive instant responses. Feel free to contact us via the Chat window or support email: email@example.com.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
Our Homework Writing Services
My Homework Writers holds a reputation for being a platform that provides high-quality homework writing services. All you need to do is provide us with all the necessary requirements of the paper and wait for quality results.
At My Homework Writers, we have highly qualified academic gurus who will offer great assistance towards completing your essays. Our homework writing service providers are well-versed with all the aspects of developing high-quality and relevant essays.
Admission and Business Papers
With Myhomeworkwriters.com, we will help you secure a position at your desired institution. Our essay writing services include the crafting of admissions papers. We will still help you climb your career ladder by helping you write the official papers that will help you secure a job. We will guide you on how to write an outstanding portfolio or resume.
Editing and Proofreading
Myhomeworkwriters.com has a professional editorial team that will help you organize your paper, paraphrase it, and eliminate any possible mistakes. Also, we will help you check on plagiarism to ensure that your final paper posses quality and originality.
My Homework Writers harbors professional academic writers from diverse academic disciplines. As such, we can develop homework writing services in all academic areas. The simplicity or complexity of the paper does not affect the quality of homework writing services.