Foreign Acquisition With Goodwill Proposal

Competencies In this project, you will demonstrate your mastery of the following competencies: Analyze the governing rules, regulations, and ethical standards and their application to an organizations strategic goals Develop operational strategies to further strategic goals based on financial and operational data Scenario You are working as a senior accountant for Penman Incorporated, an American company following the Control Objectives for Information and Related Technologies (COBIT 5) framework, and your exceptional performance has caught the attention of the chief executive officer (CEO). The CEO has personally requested you to work on a project that involves expanding the companys operations to Australia. The CEO believes in your skills and thinks this project can demonstrate your potential to become the Australia companys chief financial officer (CFO). The company has been doing well, especially in its recent expansion into Western Europe over the last three years. Now, the CEO wants you to consider various aspects of this expansion project, such as accounting, auditing, internal controls, legal requirements, and environmental, social, and governance (ESG) factors. To make this expansion happen, youll need to come up with detailed plans and strategies. These plans should include not only financial information but also nonfinancial data that will help the companys board of directors decide whether to approve the project. One specific option the company is thinking about is acquiring another company called Square Ranching Company. Youll also have access to Square Ranching Companys financial information for your evaluation. Directions For this project, you will use the resource in the Supporting Materials section along with your prior knowledge to create a strategic plan proposal for the board of directors. This proposal will include an analysis of laws and ethical standards in the organizations strategic goals, and it will also contain developed operational strategies to further strategic goals based on information provided in the Supporting Materials section below. Specifically, you must address the following rubric criteria: Part One: Analysis Determine if the acquiring organizations strategic goal complies with governing rules, regulations, and ethical standards by examining its internal control structure within an accounting information system. Evaluate how accounting guidelines affect the organizations strategic goals. Determine conflicts of interest with this organizational acquisition. Evaluate the sustainability initiatives across the ESG regulatory landscape in both countries by recalibrating the risk. Part Two: Operational Strategies Evaluate the organizations short- and long-term goals. Consider the following: How an organization measures success or failure of goal achievement Differentiate between the organizations relevant and irrelevant financial data. Differentiate between the organizations relevant and irrelevant operational data. Identify what financial and nonfinancial information is pertinent to the organizations strategic goals that impact foreign currency financial statements on the organizations financial performance with foreign acquisitions. Create an operational strategy with minimal to no impact on the organizations risk tolerance. Identify important steps of operational strategy to monitor benchmarks for long-term success. What to Submit To complete this project, you must submit the following: Strategic Plan Proposal Submit a 3- to 4-page Word document with 12-point Times New Roman font, double spacing, and one-inch margins. This assignment should include references cited according to APA style. Consult the Shapiro Library APA Style Guide for more information on citations. Supporting Materials The following resource supports your work on the project: