Icas Notes
Internal Control and Accounting Systems
The following report covers the AAT ICAS unit.
The report covers the area of credit control within the organisation and makes recommendations for its improvement.
The report was researched through the internet, written information and trade journals as detailed in appendix.
1. Cookridge Carpets Ltd is involved in the sale of carpets, soft furnishings and beds. They are the main dealer for “Memo@memory” foam beds and mattresses in the Southampton area since 2010. 2. The company was established in 2007 by the Cookridge brothers, Peter and John. 3. The premises is an aircraft hangar-sized building which is used as a carpet and bed showroom. 4. Peter-developed relationships over twenty years in the industry. Recently they hae become the main dealer for Memo Beds, a company specialising in foam beds and mattresses. 5. Their main source of business is through direct sales, but are increasingly finding success through online sales. 6. Twenty members of staff are employed, nine in direct sales, three in online sales, one in accessory sales, two drivers, two cleaners, and three part time accounts staff. 7. The accounts function was until recently overseen by the company secretary. Due to maternity issues she has been replaced by a full-time Senior Accounts Clerk to oversee the running of the office.
8. There are currently four staff members within the accounts department, the Accounts Receivable clerk, responsible for the management of credit accounts, the preparation of information for information for management, the preparation of sales invoices; the AP clerk, responsible for purchase invoices, liaising with suppliers, management of supplier accounts, the making of prompt payments; the payroll clerk, responsible for the preparation of weekly and monthly payroll information, the calculation of monies due, comprising wages and commission, making up of pay packets and
The following report covers the AAT ICAS unit.
The report covers the area of credit control within the organisation and makes recommendations for its improvement.
The report was researched through the internet, written information and trade journals as detailed in appendix.
1. Cookridge Carpets Ltd is involved in the sale of carpets, soft furnishings and beds. They are the main dealer for “Memo@memory” foam beds and mattresses in the Southampton area since 2010. 2. The company was established in 2007 by the Cookridge brothers, Peter and John. 3. The premises is an aircraft hangar-sized building which is used as a carpet and bed showroom. 4. Peter-developed relationships over twenty years in the industry. Recently they hae become the main dealer for Memo Beds, a company specialising in foam beds and mattresses. 5. Their main source of business is through direct sales, but are increasingly finding success through online sales. 6. Twenty members of staff are employed, nine in direct sales, three in online sales, one in accessory sales, two drivers, two cleaners, and three part time accounts staff. 7. The accounts function was until recently overseen by the company secretary. Due to maternity issues she has been replaced by a full-time Senior Accounts Clerk to oversee the running of the office.
8. There are currently four staff members within the accounts department, the Accounts Receivable clerk, responsible for the management of credit accounts, the preparation of information for information for management, the preparation of sales invoices; the AP clerk, responsible for purchase invoices, liaising with suppliers, management of supplier accounts, the making of prompt payments; the payroll clerk, responsible for the preparation of weekly and monthly payroll information, the calculation of monies due, comprising wages and commission, making up of pay packets and