A Financial Statement which shows the results of the operating activities of a company for a specific period of time
What is an Income Statement
100
DSO
What is Days Sales Outstanding
100
Was enacted in response to the accounting scandals in the early 2000s.
What is SOX or Sarbanes Oxley Act
100
This color classification of Six Sigma Belt only does a project part time while employee full-time in another role
What is Green Belt
200
A financial statement that summarizes a company's assets, liabilities and shareholders' equity at a specific point in time
What is a balance sheet
200
Net Income / Average Net Assets
What is ROANA or Return on Average Net Assets
200
Target of 20% of Trade AR account balances
What is the North America DBU Target for past due balances?
200
The branch month-end process of ensuring all items that invoiced in the period have been shipped.
What is Walk the Dock?
200
Type of project which are run with a particular customer or a group of customers to address their needs or complaints.
What is Customer Focused Six Sigma (CFSS)
300
The process of recognizing an expense on the current income statement even though the expense will be paid in the next accounting period. Commission expense is an example of this.
What is an accrual method of Accounting
300
Report distributed monthly which compares safety, customer & employee satisfaction, and finance metrics to predefined targets using a red, yellow, and green ranking.
What is Branch Ops Scorecard?
300
A security interest in the title to property for the benefit of those who have supplied labor or materials
What is a Mechanics Lien?
300
They are documents signed by the customer detailing the price, quantity, part/service to be performed and delivery method that satisfies our SOX Documentation Requirements for Revenue
What is a Purchase Order or Quote or Signed Invoice?
300
This is the number of projects needed to be completed in order to obtain a Six Sigma Green Belt certification through Cummins Inc
What is 3 completed projects
400
Assets (excluding cash) less total liabilities
What is Net Assets used for ROANA calc
400
Deep dive process of projecting future revenues and operating expenses for the upcoming annual period.
What is Annual Operating Plan (AOP)
400
"Check BMS for customer profile, credit balance if available and credit level"
What is Step 1, task 2 for In-Shop QuickServe
400
Control revision, re-training and re-testing after a control failure are all part of this.
What is Remediation?
400
This award is the highest recognition a Green or Black Belt can receive from Cummins Inc. on a successfully completed project
What is the Chairman’s Quality Award
500
An Accounting calculations used to reduce the inventory balance on the balance sheet to account for on-hand inventory which is either no longer being used or overstocked.
What is E & O Reserve or Excess and Obsolete inventory reserve?
500
The approver for Capital items not in approved plan, Capital > $200k, Expenses > $20k
Who is Caroline Slider Asimakopoulos?
500
Is allowed to pay by credit card up to $25,000.
Who is a COD customer?
500
One of the requirements to recognize revenue. It documents a “meeting of the minds” with our customer for the price, and part or service to be provided.
What is evidence of an agreement
500
Inefficient processes, sales growth opportunities, and _________ are the three common categories for 6 Sigma projects.