This organic structure sets out the ordinances on how company accounts should be prepared within the UK. Tills should be accounted for at the end of day and recorded. The benefit of non holding clean checks is it eliminates the potency of larceny and loss to the concern. Cost Benefit Analysis Related Essays: New supplier and customers- Cookridge Carpets company has poor controls in regard to new customers and suppliers of the company.
She is the lone individual on the administration that is trained to run sage paysheet. The company will profit from this as they will be able to go on in an exigency and all staff will cognize what their duties are during this period.
This is not good because errors can easily occur. She has no formal accounting making but has several old ages experience in operating histories systems but has non worked in this country for over two old ages.
The DPA stipulates that all informations held about persons must be stored safely and firmly. That is, its accounting system is done in one place.
Although all these measures are in place there does not seem to be so solid form of backup. Cookridge Carpets External Stakeholders 4. Footings of Mention 1. It is vital that all IFRS standards are kept up to date and ensure that if changes are made externally by the international accounting standards board then the policies within the business are changed to reflect this.
The Data Protection Act This regulation states how Cookridge Carpets company should handle or manage the confidential information or data about the business.
They are the chief franchise in the country that specialise in froth beds and mattresses. This can be used to complete the sales and purchases ledger and payroll. Bibliography The web sites used to research information for this study were: To prepare monthly management information and must be responsible for security of information and security of payments.
The watchwords have non been changed. Review of the Accounting System 6. They will then fully understand what role they are taking and what is requested of them. All staff should be fully trained for the software they will be using as Cookridge Carpets Ltd will not be able to afford to pay out for costly mistakes.
The company should also introduce the effective petty cash control system within the organization. The benefit is informations is protected and viruses from the cyberspace minimised. Fraud is regulated through the Fraud Act The cover should also have a basic understanding of what to do and what is expected of them.
He also reports to the company secretary of office manager and his 5. They will also get to know the current rules and regulations and ensure that everything they do is legal and meets current standards.
To ensure that all payments are made accurately and on time. There will be reduced risks of losing important data because if the main system fails to work, it would be operational once again and this time would be fast in performance.
This will help Cookridge Carpets Ltd to get into the suppliers good books as a reliable customer who can be trusted to pay back swiftly. They also look at costs of the business as well as turnovers. Suppliers will be focusing on the payments for goods being supplied. Multiple backups should be made.
A questionnaire was also produced by the researcher and sent to both Internal and external stakeholders to find out their different strategies Of running a successful business. The system of signing blank cheques should also be stopped.
When Margaret was asked where the money was. In February Cookridge Carpets Company was asked by Memo Beds to become the main dealership for Southampton as the existing Local dealer was retiring. Formal internal controls system is good for Cookridge Carpets because potential risks of fraud may be reduced.
This information is unsecure and all staff have entree to her computing machine. This would not occur if there was some sort of formal petty cash system.Aat Project Based on the Internal Control of Cookridge Carpets Ltd Essay It is also been recommended by the researcher the terms in which this risks should be avoided.
Cookridge Carpets company is a large carpets, soft furnishings and bed dealership in Southampton. It is a main dealer for [email protected] foam Beds and mattresses in the area and having been established init has been trading for the past three years.
Outline of Cookridge Carpets - Introduction Cookridge Carpets LTD is a carpet, soft furnishings and bed dealership in Southampton. It is a limited company and has been trading since It is a limited company and has been trading since Cookridge Carpets LTD is a large carpet, soft furnishings and bed dealership in Southampton.
It is a limited company and has been trading since It was set up by two brothers: Peter Cookridge and John Cookridge. The business has grown steadily since it has been established in In. Introduction to the Organisation Cookridge Carpets Limited is a large carpet, soft furnishings and bed dealership situated in Southampton.
It is a private limited company, set up in by Peter and John Cookridge.
Essay on Cookridge Carpets. Cookridge Carpets Ltd A report analysing the Internal Controls in place and evaluating the Accounting Systems. I testify that the following report is my own unaided work and a true reflection of the organisation.Download