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Mycon Evaluation. Mycon Sultant Company is a concrete business that is dedicated
to serve the general public and construction companies. ...
Submitted by pepito_grillo11@ on February 17, 2008
Category: Miscellaneous
Words: 1539 | Pages: 7
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Mycon Sultant Company is a concrete business that is dedicated to serve the general public and construction companies. Mycon consists of 3 plants of which 1 plant was designed to be back up for Mycon Headquarters (plant 1). Mycon has 62 employees and a fleet of trucks. Mycon has brought in a professional group of analyst to evaluate any potential problems this company is facing and give the appropriate solutions. Among this group of professional analyst I am included. In 1998, Mycon suffered with direct competition from a very strong competitor. This competitor was very strong that it made Mycon faces many difficult losses and problems which will be explained later. By the end of 1999, the owners of Mycon where faced with the difficult question of whether to sell the company.
After having evaluated the financial statements for years 1997 through 1999, I concentrated in evaluating the aged receivables whiled my fellow colleagues concentrated in the following documentation: aged payables, assets, liabilities equity, income, and cost of goods sold, expenses, debt schedule, note amortization, depreciation schedule, historic cash flows and pro-forma cash flows.
After evaluating the aged receivables I found that Mycon does not collect from customers in an adequate manner. Mycon continues to provide service to customers in the 61-90 day range. The collection department is ineffective in managing accounts that are over the 60 day period. Overall the aged receivables are handled in an ineffective manner. There was also a problem that Mycon continue to allow the payables to be above the receivables this also meant that there was not enough money coming in to the company in an adequate manner. The following graphs will show the aged receivables for all three years and how they fluctuated and how they compare to revenue and payables. There will also be graphs that show how Mycon does not control the collection department in any stage while having...
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