As outlined in the textbook, there are five stages to the event planning process. Utilizing this five stage process, develop a faux special event to be held in a location of your choice.
-There are many different skills and abilities that a special event manager must have to be successful. Choose three skills or abilities, or both, of a special event manager listed in the textbook. Conduct a self-assessment comparing your skills with the skills of a special event manager.
Phase 1 (Research)
Phase 2 (Design)
Phase 3 (Planning)
Phase 4 (Coordination)
Phase 5 (Evaluation
Pretty Lady Cosmetic Products has an average production process time of 40 days. Finished goods are kept on hand for an average of 15 days before they are sold. Accounts receivable are outstanding an average of 35 days, and the firm receives 40 days of credit on its purchases from suppliers
A. Estimate the average length of the firm’s short-term operating cycle. How often would the cycle turn over in a year?
B. Assume net sales of $1,200,000 and cost of goods sold of $900,000. Determine the average investment in accounts receivable, inventories, and accounts payable. What would be the net financing need considering only these three accounts?
A supplier is offering your firm a cash discount of 2 percent if purchases are paid for within ten days; otherwise, the bill is due at the end of 60 days. Would you recommend borrowing from a bank at an 18 percent annual interest rate to take advantage of the cash discount offer? Explain your answer.