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Global Ltd. Susan Richardson (University Of Bradford Management Centre)

2562 words - 11 pages

Colin Drury, Management and Cost Accounting - Global Ltd

Global Ltd.
Susan Richardson (University of Bradford Management Centre)
This case study is taken from Ducker, J., Head, A., McDonnell, B., O'Brien, R. and Richardson, S. (1998), A Creative Approach to Management Accounting: Case Studies in Management Accounting and Control, Sheffield Hallam University Press, ISBN 086339 791 3. The author wishes to acknowledge Jayne Ducker and Tony Head for their editorial and developmental contributions to this case study and teaching note. Global Limited is a small company which supplies quality inspectors to the pipeline industry. The company's clients include some of the major plcs in the UK, ...view middle of the document...

The head office staff consists of Alex, Tony the Operations Manager, Helen and Mary who work in the general office, and Tracy who acts as secretary and receptionist. Inspectors are recruited in response to clients' requirements and there are currently 50 inspectors working on various sites, although this number can fluctuate substantially depending on the contracts in operation. In order to operate this recruiting system, the company holds on file the CVs of inspectors with relevant skills and qualifications as a source of reference, and contacts (usually by telephone) inspectors with appropriate skills and qualifications to match clients' requirements, to ascertain if they are available for work. Some of the inspectors are highly qualified and can command high salaries as well as being selective about the work they take on. Additionally, since many of the clients' site are overseas, and sometimes offshore, salaries and subsistence allowances are generally high. Sites on the UK mainland are generally widely spread and in out-of-the-way places, and so transport is needed for the inspectors (who may have to visit more than one site as part of a particular contract). The company therefore hires cars through a firm situated near to the head office for most inspectors working in the UK. Additionally, Tony is also supplied with a hire car. Sometimes the charges for car hire can be reclaimed from the client, but this depends on the terms of the contract. The company requires little capital investment in fixed assets. However, it does supply specialist equipment to the inspectors for use on site. The cost varies between £200 and £1000 per item and often the company hires this in, rather than purchasing it. The recently issued financial results have been rather disappointing for Alex (the company only just broke even), even though the turnover had been increased considerably. In addition to this, Alex is finding that the company is regularly short of cash and creditors are continually telephoning to find out when they are likely to be paid. One source of this cashflow problem over the past few years has been Alex's own spending habits - he has made some significant personal drawings from the organisation to fund his high standard of lifestyle. Marketing expenditure on client entertainment is also a significant cost and cash outflow source, although this type of marketing activity is standard for the industry. Alex has recently approached the bank manager and asked for an increase in the overdraft facility in order to ease the situation. While the bank has agreed (subject to the provision of extra security for their support), it has insisted that Alex supplies them with regular information about the performance of the company. Alex has little experience of the accounting side of the business, since his background is

Colin Drury, Management and Cost Accounting - Global Ltd

more on the operational side, and he has realised that he needs someone with...

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