Research Riordan Manufacturing and prepare a 1,050 to 1,400-word paper addressing the following topics:
Problem 1) Explain the importance of strategic planning in maximizing shareholder wealth.
Problem 2) Using the Economic Forecast on the Finance and Accounting intranet, demonstrate how forecasting has been used in the budgeting process for the most recent fiscal report. Justify your answer using the Microsoft® Excel® Operating and Cash Budgets for the most recent fiscal report on the Budgets section of the Finance and Accounting intranet. Be sure to include specific data, calculations, and/or formula details from the Excel® worksheet in your written justification.
Problem 3) Describe in detail the elements of the master budgeting process which have been created in (b) above and detail what additional steps would be necessary to complete the master budgeting process for the most recent fiscal report.
Problem 4) Suggest how some of the assumptions for the Cash Budgets might have been established.
Problem 5) What issues or concerns do you think financial managers might face in finalizing the most recent fiscal budget? What recommendations do you have to address those issues or concerns?