Free Essay

Consultant Whoas

In: Business and Management

Submitted By inspire2grow
Words 1687
Pages 7
As indicated by Brown, D., Pryzwanski, W. B., & Schulte, A. C. (2006), when there are conflicting views in collaboration, the goals and procedures are apt to create misunderstandings: which can lead to resentment, in addition to confusing expectations and responsibilities. As explained by Ray (1978), “when change is presented, discussed, and planned, people will choose to change. In so doing, recognize the benefits of change.” Thus, seek a method for the change in a way people will yield to change efforts.
It is my opinion a change that this course has helped me to recognize is in my ability to self advocate for my needs in creating the change in my employment. For example, I have struggled with Attention Deficit Disorder (ADD) that has gone undiagnosed until recently. ADD can certainly affect one's work life. In such a way as trouble remembering information, managing time, organizing and prioritizing, screening out distractions, and just getting started on tasks. This has caused extreme frustration in me and those I work with. My experience is when energy has been expended in an effort to control what's outside of us, this tends to drain us of vital energy and frustrates us even more. However, what seems like minor errors have accumulated to a point of this writer has been held to disciplinary actions at work as “unprofessional.” I would have to say, upon waking each day and throughout most my waking hours, I have varying degrees of anxiety. Upon waking, it is extreme, as to what I will face at work, that day. Not in the dealing with students, but in possible supervisor reprimands. As a result, I have sought professional help in this and now prescribed medication to help me with my difficulty with organization. In so doing, understand that the source of many of the challenges is ADD, not personal shortcomings. I agree there are changes to be made for me to become more organized. As a result, it is necessary to address some core ADD-related issues; such as those related to time management, organization, self-esteem, gain clarity and function more effectively and offer a safe environment in effort to let go of feelings of isolation. Therefore, provide an environment in which there is a nurturing connection with another person to eliminate the feelings of shame, guilt and fear that plagues me by being labeled “stupid”, “ditzy” or “irresponsible” which creates an emotional burden that can derail their actions, and throw me off course or even paralyzing me.
However, the changes are not just in my organization skills: but, there are several areas that necessitate my employer to change, their professionalism, so I am able to perform my job in a timely fashion, and work adequately and efficiently, without these necessary suffering. One such issue to resolve this is provision of a printer that works: thus allowing me the availability to print the well-timed notices that are necessary to send to those involved in a situation. Currently, the printers provided at work are constantly malfunctioning: this includes the teacher’s workroom, the one the in my office and the printer in the front office. Sometimes, the printers malfunction concurrently. This, results in having to delay actions until the printer is repaired so I am able will to print and send necessary documentation. Unfortunately, the repair may take an entire day, sometimes more, to be repaired and by the time it is repaired, there is an unnecessary delay my ability to function as I have to “catch-up” to what I have not been able to access the prior day(s). Thus, this causes me undue stress on my day to day functioning. One thing, for sure, I am requesting the necessary reliable printer. . Also, there are times when the printed document printed is not legible. Or at least, printed poorly and difficult to read. Another suggestion, I am making, is assistance in setting up my outlook account so I am able to produce a to-do list to remind me of the documents that need to be sent out. In so doing, I am advocating my needs to my employer for accommodations that will improve not only my organization skills but the ability to work in a timely matter.
Another issue encountered, is both my computers have malfunctioned at one time or another. At one point, both of them were not functioning properly. Efforts to have IT department to respond to fixing them has caused lapses in my ability to provide timely notice of a meeting. For example, when my laptop shut down, I sent an email, and mentioned this to both my supervisors and the IT dept. of the need to repair this. I use this laptop for scoring assessments and various files I may be working on. I am a patient person and felt at the time, it would be handled. I am not sure exactly sure when the laptop failed but there is documentation of a work order requested from October. Instead of a timely resolve, it took at least 4 months for them to pick it up for repair. Then, I was accused of breaking the computer and now they are charging me $562.00 for this. Other situation, which happens often, related to the network as an inability to access the internet because of repairs done on the network. I have to delay working on a program called IEPpro. This is when the IT dept must be trying to repair many of their issues. Or, when researching a disability or other resources, I am denied authorization to access sites: thus requiring me to submit a request to access this site. I am not even sure when or if this this has occurred because I am not notified. Other situations that have occurred in times I needed programs installed on my computer. I am not able to update or add programs necessary for my work. Thus the change necessary is in both my employers’ responsibility to provide adequate equipment to do my job.
Another issue I have encountered is that the site I am working at does not have a fax. At one point it briefly was functioning, another it didn’t; now it is certain, there is no fax machine at my site. Before though, I had no idea the fax was not functioning or if documents were sent to me were not received, therefore delaying timely action. As a result, I have changed the fax number for the sender to send to the fax to the district office. In the meantime, adding more unnecessary steps because I have to contact the provider to get them to resend a document because they were unable to send me the fax. Or wait to see if the district has received it. Other efforts to send documents were by mail or I have to ask another person to scan the document to their email and then have them email to me so I am able to send the document. All of which are timely delays, and frustration, that regulates my ability to functioning effectively. To fix this situation, if there is not a working fax at this site, I need an ability to scan my documents to send documentation. I am not sure how the responding party can adequately send them back to me. Unless requesting them to scan and send it to me, or mail.
I am sure there are other situations such as becoming “over-focused” and getting stuck in a particular activity or sidetracked by interruptions of a task at the cost of everything else. Just as being sidetracked by negative feedback from supervisors and that continually remind me of my inadequacies. Although, the school enforces the teachers to utilize a standard of 4 positives to 1 negative, this is not something they adhere to when working with staff. I am sure there are other issues that have not been mentioned but for brevity, and prevent perseverating and added frustration with the situation, I will stop here. However, I am taking the initiative to seek out assistance and show interest in furthering my ability to perform to expectations. I am not sure how this will be resolved, but it seems to be a step in the right direction. In so doing, I look forward to learning new methods that enhance time management in addition to communication skills. Within the short period of beginning this class, the reading assignments and discussion questions have prompted a renewed enthusiasm for leadership that is and my obligation to take action in developing and strengthening my skills to be an effective consultant.
One method found particularly helpful is the attempt to tailoring the consultant’s approach to that of the consultee’s worldview. This requires a mindfully consideration of the consultee’s values and analysis of their situation. As a result, participation in this class brings to mind a broader scope of understanding to include the consultant actively considering systems within and between organizations, their subsystems and their coordinating and discordant impact on the consultee’s (myself) client (the district), the community and beyond. Collaboration, while a feature of working in any clinical setting, now has greater significance when thinking about the consultant, consultee and organizational relationship in the context of community and politics. Another impressive contribution I have gained is the estimation of subsystems within systems and hidden agendas of those involved in and influenced by the consultation and consultee relationship. While I have had an awareness of these influences on the dynamics between service recipient and, service provider in this case, consultant and consultee, I have taken the degree systems and hidden agendas to influence success, for granted. Which up until now, I was not readily able to understand in drafting helpful interventions or perceptive of possible barriers to my success.
References
Brown, D., Pryzwanski, W. B., & Schulte, A. C. (2006). Psychological consultation and collaboration: Introduction to theory and practice (6th ed.). New York: Pearson.
Ray, R. G. (1997). Developing internal consultants. T + D, 51(7), 30-34. Retrieved from
http://search.proquest.com/docview/226997696?accountid=7374…...

Similar Documents

Free Essay

Whoa

...Home Poetry Book Contest Poetry Book Contest Brick Road Poetry Book Contest Michael Meyerhofer was selected as the winner of the 2010 Brick Road Poetry Book Contest for his manuscript entitled, Damnatio Memoriae. The 4 additional finalists were: Rupert Fike, Lotus Buffet Grey Held, Two-Star General Jamie Thomas, Etch and Blur Toni Thomas, Chosen Jason Schossler, Mud Cakes (scheduled for publication elsewhere) 4 of our finalists, all but Jason Schossler, are scheduled to be published by Brick Road Press. *** The first place winner receives a publication contract with Brick Road Poetry Press and $1000 prize, publication in both print and ebook formats, and 25 copies of the printed book. We may also offer publication contracts to the top finalists. Adhere to all the "general submission" manuscript guidelines. (provided below) Entry fee $25, payable through the online submission manager. If sending hard copy, please include a Check or money order to "Brick Road Poetry Press, Inc." Deadline: November 1, submission accepted starting August 1. Submit via the Brick Road Poetry Press Submission Manager Manuscript Guidelines   * Book-length poetry manuscripts only. * Simultaneous submissions accepted, provided we are immediately informed if the manuscript is accepted elsewhere. * Original collection of 50 to 100 pages of poetry, excluding cover page, contents, acknowledgments, etc. * Single sided, single spaced. We prefer no more than one......

Words: 490 - Pages: 2

Free Essay

Consultant and Client Communication

...Consultant and Client Communication MGT 527 January 28, 2013 Sarah Nelson Consultant and Client Communication Within an organization effective commination requires clear objectives along with sound strategies. In each business communication is crucial. Whether big or small the most effective instrument in organizations pertains to communication. Misunderstanding and challenges emerge with one-on-one interactions. Nevertheless, businesses influence effective communication strategies through persistent communication. However, a conductive environment on every level opens the door to communication whereby enabling the organizational members freely to express their ideas, criticisms, and feedback. When managers engage in conversation with employees “specially,” about their ideas, viewpoints on the emerging issues in customer and service production as well as the business environment develops an inclusive culture that demonstrate significant results. In the economy of business financial organizations explicate their vision for success in developing a long relationship. However, the vision of a company is to interact effectively with future as well as existing customers. In addition, advisors in finance serve as team members who assist in developing the mission as a reality. Organizations run effectively because of the complementary aspects of both organizational finance and advisors. Nevertheless, this paper pertains to the unit of business that involves a consultant......

Words: 1167 - Pages: 5

Premium Essay

You Are the Consultant

...You Are the Consultant You have been hired as a consultant for a small company running Server 2008 and Vista clients. There are a couple of items that they would like you to fix: a. The DHCP server has been assigning IP addresses that conflict with other addresses. How could this be happening? How can you fix it? A dynamic IP address conflict happens when the DHCP server assigns the same IP address to two computers. This happens because when a computer requests an IP address and the DHCP server doesn't check the network, but only checks the available IP addresses that it can lease. When another computer goes offline, the DHCP server makes that computer's IP address available for lease. However, if that computer goes online again it may think it still owns the IP address, resulting to a possible conflict. To resolve the dynamic conflict and get a different IP address, open the command prompt. Type the command "ipconfig /release" (without the quotes) and press "Enter." This releases its old IP address. After that, type the command "ipconfig /renew" (without the quotes) and press "Enter." This requests a new IP address from the DHCP server. b. A novice administrator has just completed a restoration of the DHCP database. However, this person has realized that the scope information displayed in the DHCP snap-in is inconsistent. They do not know how to fix this problem. Explain what most likely is required in this situation. In order to fix this problem,......

Words: 379 - Pages: 2

Premium Essay

Dyad Consultants

...Consultant’s Perspective             When being in the consultant role, I was a bit nervous and excited. Many thoughts ran through my mind, such as, am I knowledgeable, capable, or emotionally ready for this assignment. To ease the nervousness, my partner and I thought it would be best to exchange information on our expertise and give examples on how we help or consult an individual.  I listened to my partner carefully as he was sharing his story. As I listened, I noticed that I was eager to interject and offer advice. I was thinking his problem is not really a “problem” I fell into the category of: (1) using the power and authority and (3) meeting defensiveness with more pressure. (Schein, 1999) I wanted to lay-out an effective plan and say “hear try this,” but I had to remember that this is not recommended for consultants to practice. Knowing this helped remove the areas of ignorance that I had when the client (partner) continued with his story.  When my feelings and emotions left and I found myself truly listening to the concerns of my partner, I found myself thinking of the consultant’s duty. Ultimately, it was my duty as a consultant to help assist defining the diagnostic steps which will help guide the client (partner) to understand how to solve problems for himself. (Schein, 1999) The goal is to create an executable plan based on the diagnosis. Reading Schein’s perspective on how to approach a consulting situation is “the consultant must not take the monkey off the......

Words: 1066 - Pages: 5

Premium Essay

Technology Consultant

...Technology Consultants Human Resource Strategy Ross R. Whiteley HR485: Strategic Human Resource Management Professor John Theodore Table of Contents Section 1: UPS Strategic Human Resources 2 References 5 Section 1: Human Resource Strategy Technology Consultants (TC) is a small computer and technology services company. In the first five years of operation the company has grown from a startup of 3 people to a successful operation of 30 employees. During the early years of growth the company focused primarily on growing the customer base. This has created a situation that has left the company without a defined business strategy and little or no consideration to the human resource needs. The recruiting process overseen by the business owner and interviews are conducted by the owner and two of the long term employees. Most of the candidates are recruited from two local colleges and have graduated with an IT type of degree. With little or no emphasis placed on the HR strategy technology Consultants is suffering from a very high rate of turnover. This is unsettling to both the customers who are affected by the loss of established relationships and the owner who sees failing confidence as a precursor to the loss of customers. After five years of operation Technology Consultants needs to define their mission, vision and goals. They need to develop standardized business practices and they need to develop both a business strategy and a HR strategy to reach those......

Words: 950 - Pages: 4

Free Essay

Ktd Consultants

...KTD Consultants   We are a Network Consulting Team called KTD. We have been asked to implement a system in a new multi-specialty medical practice. In this practice, they will have ultrasound imaging, MRI, EKG, and other diagnostic modalities that are digitally read on a computer screen. They would also like to include an Electronic Medical Record system such as AllScripts, EPIC, or NexGen that will need to be accessible to all employees and doctors. This will be a new satellite office for an existing office that is ten miles away. What we plan to cover in this paper will be the specifications it will take to get this office’s network up, running, and able to support the equipment, software, and databases they are trying to implement, while also giving them the ability to communicate with their Main office. We will also have to ensure that what we create is very secure, and follows all HIPPA requirements for the network and data storage. We will go over the networks design including topology, Network Interface Cards (NICs), network operating system (NOS), cabling, where will the companies devices be located (servers, hubs or switches, printers, firewalls and routers, modems etc.), and how many users will they have. We will also discuss security measures such as, backup processes, and power it will take to sustain this network and its devices. For security we will discuss Virus protection, user passwords, firewalls, data encryption, and what physical security measures......

Words: 3347 - Pages: 14

Premium Essay

Consultant

...compliance, logistics and SC distribution process for APJ       Conversant with Multiple Project Methodologies and 6 Sigma methodologies Executed BIG Data , Un Structured data solutions and modeling Presented Warranty non compliance predictive modeling paper in PAW – Chicago 2013 Papers selected in INFORMS & WCM forums on the work done on analytics solution Managed Complex Cross Functional Teams (15+ years) in Customer service and warranty Executing various programs / projects involving scoping, initiating, high level design & architecture, resource mobilization, execution within cost & time parameters. Industry Knowledge – Power, Oil & Gas and Hi – Tech Lead ISO / ASME Certification for companies in India and Singapore Qualified SAP SD Consultant. Lead ISO Internal Auditor. HP Black Belt Trained           Key Achievements / Engagements / Projects  Built Analytics Capabilities: Warranty Installed Base Analytics, Care Pack Analytics, Warranty Spend Analytics, Predictive intervention modelling, Fraud Analytics , Customer Research ( L1, L2 and L3) and Competitive Intelligence on warranty offerings Incubated Supply Chain Reporting and Solution for Pan HP – FY 08 Established Transformation Road map and frame work and delivered US$ 5 mil savings transformation projects Efficiently managed and supported Pan HP Physical Claims Program for APJ. Actively involved in Product Returns financial flow simplification and partners credit reconciliation.......

Words: 727 - Pages: 3

Premium Essay

Research Consultant

...Development Studies 4. Afro Spin Ltd. 5. Alpats Agencies 6. Bahati Day & Night Security Guards 7. Baraka nursing home 8. Bhogal’s Garage Ltd. 9. Bhotto Solar Ltd. 10. Buds and Blooms Ltd. 11. Carnation Hotel 12. Carol Schools 13. Chester Hotel 14. Chrisco Schools 15. Coil Products Ltd. 16. Cornerstone Security 17. East Gate Estate Ltd. 18. Elmis Security 19. Evans Sunrise Hospital 20. Fanikiwa Commercial agencies & properties 21. Gilanis Supermarket Ltd. 22. High Rise Property Management Agencies 23. Hotel Cathay 24. Hotel Kunste 25. Hotel Waterbuck 26. Jojean Properties Ltd. 27. Kamalunga Commercial agencies 28. Kamotoku management consultants 29. KAPI Ltd. 30. Kenya Institute of Biomedical Sciences 31. Kinamba Oil Ltd. 32. King’s Academy Schools 33. Mache Hardware Ltd. 34. MEA Ltd. 35. Menengai Medical & Training College 36. Merica Hotel 37. Midlands Hotel 38. Milling Corporation (k) Ltd. 39. Motel Magnolia 40. Muigai Commercial agency 41. Muthaiti Schools & Colleges 42. Mwangaza College 43. Nakuru Bargains Ltd. 44. Nakuru Blankets Ltd. 45. Nakuru Fibres Ltd. 46. Nakuru Industries Ltd. 47. Nakuru Institute of Information Communication & Technology 48. Nakuru Nursing and Maternity Home Ltd. 49. Ndonge Commercial agencies & Estate Management 50. Neem’s Ltd. ......

Words: 16855 - Pages: 68

Free Essay

Network Consultant

...Network Consultant Scenarios Joshua Lillis IT/240 July 20th, 2014 Network Consultant Scenarios * What changes in equipment are required to bring this company’s network up to date to solve the shared-bandwidth problem? Since the office has 10 workstations connected to a 10 Mbps hub, each computer average bandwidth is 1 Mbps. Since the LAN is relatively small, you can change it to a 100 MB switch. Even if their NICs are only 10 MB, they can upgrade their NICs as need be. Since seem to transfer large files often, so this will allow for the transfers to go smoothly and not bog down the network. Effectively the transfer rate is 200 Mbps depending on what their NICs are capable of. * What topology and which type of device can be used in the manufacturing area to solve the cabling difficulties? The type of topology that would be used is an extended star network, since it will be connected to the office, which uses a star network topology. The device that would be used to overcome the cabling difficulties would be a Wireless Access Point, using a wireless router. We would need to buy Wireless NICs for each of the computers in the manufacturing areas. In case 3-1 the type of network it would be, is a client based model. It is a client based model since there is no centralized server. Old-Tech’s computers transfer large amounts of files to each other on the network. Since any of the users can share their resources on their computer, each person needs determine...

Words: 697 - Pages: 3

Free Essay

Consultant Test

...HUMAN RESOURCES CONSULTANT Competency Profile DESCRIPTION OF WORK: Employees in this banded class provide professional consultation in human resources best practices that support the university and/or agency in achieving stated goals and objectives. Employees may serve as lead consultant, program manager and/or project manager; in these roles, employees may supervise staff. Employees understand and can articulate the relationship between HR programs and activities and the organization’s successful mission accomplishment. Work involves developing and maintaining productive collaborative work relationships and assessing and responding to apparent and underlying client needs. Employees interpret policies and practices in context of the client’s needs and in alignment with the organization’s best interests and advise clients regarding decisions that are impacted by laws, policies, and procedures. Employees function with a high level of integrity, independence and participate in policy, service, and/or program development. Employees research, facilitate, negotiate, develop and document innovative solutions to human resources issues tailored to the requirements of the client and the organization. Employees are assigned to one or more specialties, such as: benefits administration; career planning; classification; compensation; employee retention and organizational culture enhancement; employee relations; employment; environment, safety and health; equal employment opportunity; HR......

Words: 2806 - Pages: 12

Premium Essay

Consultant

...SAP/ERP/Infrastructure projects. He has worked in a variety of industries including Government, Manufacturing, Media, Financial Services, E-commerce, Banking, Telecom, and Chemical. James is an experienced technical consultant and problem solver who brings enthusiasm and process-based organization to his engagements. James blends quickly with client teams and together they meet milestones and develop high-quality deliverables. James’ leadership and technical experiences on a wide variety of engagements allow him to successfully adapt to different roles, environments, and technologies. Clients describe him as an energetic leader, a creative thinker, and a results-oriented senior consultant. James is certified in SAP Basis, as well as SAP Portals/NetWeaver & Configuration (SAP UK Ltd.), SAP XI, and MS Active Directory. Project Summary: ▪ Delivered global Portal Strategy and Solutions for Suez Group (Electrabel) ▪ Lead and Architect in half a dozen full-life cycle Enterprise Portals (NW2004s (EP 7.0), EP 6.0, and EP 5.0) and KM implementations ▪ Home Depot – Led Portal team in architecting, designing, and configuration of Federated Portal Network (FPN) based on SAP NW2004s. ▪ Highly experienced ESA, SOA, and Enterprise Services Repository (ESR), and Ramp-up NetWeaver consultant ▪ Federal clients include Department of Interior, IRS, US Customs, and Surrey County (United Kingdom). ▪ Other projects include Accenture, Home Depot, Johnson & Johnson,......

Words: 321 - Pages: 2

Premium Essay

Business Consultant

...Business Consultants Natascha Pedersen MAN 324 – Operations Management Saturday June 27th, 2015 Instructor Mr. Cory Mead, MBA Abstract The reconditioning process of Wärtsilä Ltd was established to decrease warranty and maintenance cost, and it is a process in which a customer has the opportunity to return a pump to Wärtsilä GLS for reconditioning after the estimated lifetime of the fuel pump is reached (“Reconditioning of pilot fuel pumps,” 2014). In this paper I will analyze the internal process used by Wärtsilä Ltd and will advise them how it could be reengineered in order to give the company an even more competitive edge. Introduction In order to stay competitive in today’s global economy more and more businesses are making use of business consultants (Ariño, 2014). A business consultant assists an organization in improving performance and efficiency, by analyzing the business, creating solutions, and assisting companies to meet their goals (Hom, 2013). Nowadays, it is very important for companies to reinvent their operational capabilities, and this is mainly caused by customer sophistication, competitive pressure, and a move to services (Chase, Jacobs, & Aquilano, 2006). Operations consultants can help an organization in developing new and improved strategies, and improving their internal processes. The Process I will examine the reconditioning process of fuel pumps of the engine builder company Wärtsilä Ltd. The reconditioning process was established......

Words: 1522 - Pages: 7

Premium Essay

Consultant Report

...Consultant Report: Pheonix Jewellers 04-74-234 April 7, 2015 Table of Contents Introduction 3 Background 3 Analysis 3 Target Market 3 Competition 4 Consumer Satisfaction 5 Business Environment 6 Social Environment 6 Physical Environment 7 SWOT Analysis 7 Recommendations 8 Conclusion 9 Appendix A 10 Appendix B 12 Appendix C 13 Appendix D 14 Appendix E 15 Introduction This report will analyze the local retail establishment; Phoenix Jewellers, in order to assess their capacity to effectively use the principles of consumer behaviour to maximize their business potential. The many aspects of their business will be analyzed including their target market, consumer satisfaction and competition as well as their business, social and physical environment. Conclusions and recommendations will be made to enhance the future profitability of Phoenix jewellers. Background Phoenix Jewellers is a local retail establishment positioned in a plaza, surrounded by many other flourishing businesses of many varieties. Recently celebrating their ten-year anniversary, Phoenix takes pride in their personalized and friendly service whilst offering a variety of products necessary to meet the varying budget and taste needs of the consumer. We conducted an interview with Erin Parker, the store manager, to gain an insight on their business behaviours. A brief interview of the employees and consumers was also conducted to further our analysis.......

Words: 2299 - Pages: 10

Premium Essay

Risk Consultant

...ISSC 363 Risk Consultant 24 January 2016 Risk Consultant A risk assessment is a way to identify, evaluate, quantify, and prioritize risks (Gibson, 2011). They are primarily used to assess the overall security of a network from the eyes of an attacker in order to protect the network from intruders (Schmittling, n.d.). There are no regulations instructing organizations on how systems need to be controlled or secured, however there are regulations requiring systems be secure in one way or another (Schmittling, n.d.). The rationale for conducting an assessment include: cost justification, productivity, breaking barriers, self analysis, and communication (Schmittling, n.d.). Adding security adds an extra expense that may not seem justifiable to a company. Businesses may not understand that an intrusion could cost more than proper security equipment and it is important for a security risk analysist to relay this important information. Productivity can be increased by properly formalizing a formalizing a review and implementing self analysis features (Schmittling, n.d.). Conducting a risk assessment can also break down barriers between the organization's management and the IT staff as they work together to secure the network. By making the security risk assessment system easy to use, management will be able to take part in the security of the network which will in turn make security a part of the business's culture. Risk assessments can boost......

Words: 792 - Pages: 4

Premium Essay

Consultant Memo

...Accounting Consultant Company | To: | Supervisor | From: | Accountant | CC: | Regional Trucking Company | Date: | 12/18/2011 | Re: | Lease and Lease Structures | According to the Financial Accounting Standards Board (FASB), “the Boards defined a lease as a contract in which the right to use a specified asset (the underlying asset) is conveyed, for a period of time, in exchange for consideration.” There are a few different types of leases to look at, sales-type, direct financing, and operating leases. After reviewing them, there will be a clear choice in the type of lease that the Regional Trucking Company should use. Operating leases are short-term leases, the lessor retains the ownership benefits, they are considered an operating expense on financial statements, and they do not show up as capital of the company. This would be beneficial to them because they are unsure of the length that the current opportunity will last. The Regional Trucking Company fits into this structure of a lease very well. An operating lease is a good choice in this company’s situation. FASB Statement Number 13 states, “Normally, sales-type leases will arise when manufacturers or dealers use leasing as a means of marketing their products.” The Regional Trucking Company that we are consulting for needs an additional twenty trailers; they will not be leasing their own equipment. Hence, a sales-type lease would not be the type of lease they should go with. It would not make......

Words: 516 - Pages: 3