Review of Inkwell Ltd’s accounting system and the effectiveness of its internal controls and recommendations for improvement.
This report is submitted for assessment of competence in AAT Learning and assessment area Internal Control and Accounting Systems that compromises the two QCF units: * Evaluation of Accounting systems
* Principles of Internal Control
List of Contents
1. Terms of Reference
2. Executive Summary
4. Nature of Business
5. Current Accounting Function
6. Review of the Accounting System
Terms of Reference
2.1 This report has been prepared to cover the requirements of AAT Learning Assessment area ‘Internal Control and Accounting Systems’.
2.2 The objectives of the report are:
* To review Inkwell Ltds Accounting System
* Identify weakness and make recommendations for improvement * Prepare a cost benefit analysis
3.1 The research used for this report is primarily made up of second hand information found in textbooks, the internet and information given from Anil Gupta from Inkwell Ltd.
4. Nature and Structure of Inkwell Ltd.
Nature, Location and Ownership of Inkwell Ltd
4.1 Inkwell supplies a complete range of inkjet and laser toner cartridges which have been re-manufactured. Their mission is to save customers money without compromising quality, whilst producing products which are greener for the environment. Inkwell claim that their products are manufactured to the highest quality using the latest technology and are happy to replace dissatisfied customers without any argument. 4.2 Inkwell Ltd has stores nationwide on high streets where their products are available. They also have an online shop which is available 24/7. The company head office is based in Birmingham, where its management and accounts team are also based, along with the warehouse and online shop. 4.3 Inkwell was...