Riordan Manufacturing's Financial State Paper

Riordan Manufacturing Financial State Paper

Ebony Baldwin, LaShandra Eddings, Elmhedi Ibnamar, and Mary Moore

BSA/500 – Business Systems I

August 15, 2011

Anthony L. Fields

Riordan Manufacturing Paper

Description

Riordan Industries, a Fortune 1000 enterprise with revenues in excess of $1 billion totally owns Riordan Manufacturing. The company employs 550 people and boasts projected annual earnings of $46 million. Riordan Manufacturing has three operating entities (Georgia, Michigan, and California) plus a joint venture in the People’s Republic of China. Finance & Accounting Systems are located in each operating entity and they provide consolidated input from Corporate, San Jose. The basic components of each system are as follows:

• General Ledger

• Accounts Payable

• Accounts Receivable

• Order Entry

• Procurement

• Sales and Purchasing History

• Invoicing and Shipping

• Payroll

• Financial Reporting

• EDI*

• Bar Code Reading*

• EDSS (Executive Decision Support System)*

*San Jose Only (Apollo Group Inc., 2006).

Mission

Translating advanced technologies into value for their customers using Six Sigma methodologies to define the attitude and abilities of Riordan Manufacturing is the focus of Riordan. The company strives to be a solution provider for their customers as opposed to being a challenge to their customers. Additionally, Riordan vows to maintain a resourceful and team oriented working environment for its employees. The future of Riordan rests on achieving and sustaining realistic productivity to reassure that the financial and human capital is available for sustained growth.

Finance and Accounting

Because of the varied software modules used throughout the corporation, Riordan’s Finance and Accounting department has been unable to achieve anything remotely resembling “seamless compatibility.” Corporate headquarters receives accounting...