Riordan Manufacturing Case Study

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Riordan Manufacturing Financial State I. Background Riordan Manufacturing was founded by Dr. Riordan, a professor of chemistry who obtained several patents qualified to processing polymers into high tensile potency plastic substrates. Riordan Manufacturing is a worldwide plastics manufacturer. The company employs 550 people with probable earnings of $46 million. The company is completely owned by Riordan Industries, a Fortune 1000 enterprise with revenues in surplus of $1 billion. The company products include plastic beverage containers produced at its plant in Albany, Georgia, custom plastic parts produced at its plant in Pontiac, Michigan, and plastic fan parts produced at its facilities I Hangzhou, China. The company’s research and development is done at the corporate headquarters in San Jose. Riordan’s major customers are automotive parts manufactures, aircraft manufacturers, the Department of Defense, beverage makers and bottlers, and appliance manufacturers. II. Riordan Accounting System Riordans accounting system consists of two parts. The first is the Software used to keep track of the financial data. The second system is primarily for the manufacturing operation and ties directly into the finances. The manufacturing operation at Riordan is dependent upon the combination of these two systems. Riordan Accounting Software Modules Riordan Manufacturing has the following software modules in operation within its accounting system. These modules assist managers in the evaluation of the company’s financial condition and operating performance during a given period. The period evaluated may be monthly, annual, or multiyear. Riordan accounting group has implemented these modules to better report their financial infor... ... middle of paper ... ...omestic automakers to cut costs. Continued sizable increases in the costs of providing employee benefits are highly likely to continue. Despite this particular issue related to costs, the stable economy described in the forecast presented above should provide for the basis to at least meet the firm’s sales goals. References Apollo Group, Inc. (2006). Riordan Manufacturing. Home. Retrieved November 28, 2007. BSA/500 Internet Source: Schroeder, Carol L. Savvy Store Solutions; November 2005, Special Edition, p22-24, 3p Raiborn, Cecily A. Watson, Stephanie F. Survey of Accounting. Chapter 1: An Introduction to the Role of Accounting in the Business World. Copyright 2003 John Wiley & Sons, Inc.
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