Internal Controls and Accounting Systems for Cookridge Carpets Ltd

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List of Contents
Page Number

Executive Summary3

Terms of Reference4

Methodology5

Organisation Background

Description of the Current System

Weaknesses of the Current System

Recommendations

Fraud and Errors
-Appendices
-Appendix A: SWOT Analysis
-Appendix B: Organisation Structure Chart
-Appendix C: Accounting System and other functions of the organization

1. Executive Summary
1.1
The report investigates weaknesses in the accounting system at Cookridge Carpets Ltd, using information from the company’s diary. It then makes recommendations for improvements with a cost- benefit analysis. 1.2

2. Terms of Reference
2.1
The report has been prepared to cover the requirements of AAT learning and assessment area internal control and accounting systems.

2.2
The objective of this report are to:-
-Analyse the current accounting function at Cookridge Carpets Ltd -Identify any weaknesses in the system and recommend improvements -Quantify the costs and benefits arising from the recommendation made.

3. Methodology
3.1
To analyse the current accounting system, the report writer was provided with the following information: - -An overview of the accounting system
-A list of events that have occurred over the previous six months -
3.2
To identify the system’s strengths and weaknesses the writer has performed a SWOT analysis (appendix A) of the current system.

3.3
Likewise, potential frauds were identified and recommendation for improvement has been made.

3.4
To estimate costs and benefits of the recommended solution, the writer has carried out cost-benefit analysis.

Organisation Background
Cookridge Carpets LTD is a limited company set up by 2 brothers, John and Peter Cookridge, in 2007 and has been trading for 3 years. The company is a large carpet, soft furnishings and...
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