Sandwich Master Ltd

Topics: Petty cash, Fraud, Imprest system Pages: 26 (5318 words) Published: January 24, 2015

WYLDECREST PARK LTD
Evaluation Accounting System
Review the company

LIST OF CONTENTS
1. TERMS OF REFERENCE
2. METHODOLOGY
3. COMPANY BACKROUND
4. ANALYSIS AND RECOMANDATIONS
5. COST BENEFIT ANALYSIS
6. APPENDICES A company structure
B Direct Debit Form C Payment authorisation forms D Time Logging and Locking System E Order number request form F SWOT report and Analysis

TERMS OF REFERENCE

1.1 This project has been prepared to cover the assessment requirements by the AAT Learning and Assessment Area of Internal Control and Accounting System.

1.2 The objectives of this report are to complete and analyse a review of the accounting system, identify any weaknesses and to make suggestions and recommendation for improvement and to prepare a cost benefit analysis.

2 Methodologies

This project has been created by working in accounts department and looking at Wyldecrest Parks Ltd internal control of the accounting system. Following documents has used in order to the report
--- Company Structure
--- Finance team Job description
--- Company Policy Manual BS EN ISO 2008
--- Sage 200, Company Database, Excel Spreadsheet, BACS Software

By looking at the company accounts for the last two years and by analysing how the finance team works us able to identify company strength and weakness and determine any recommendations and suggestions that will allow the company to improve and to progress. In order to achieve company’s logo by being the best in the industry the company need to make sure that all internal control proceedings are running efficient and is up to date with all the new changes in Legislation and finance.

3 Company history

3.1 Alfie Best is the founding chairman of Wyldecrest Parks one of the largest residential and holiday park home businesses in the UK.He started the company 14 years ago when he bought Lakeview Park near Romford in Essex and now owns 30 parks. Alfie is a dynamic, motivator and a leader who is full of new ideas and methods with which to drive his businesses forward. Alfie works with his business partner Waseem Hanif ,who is the finance director of the group.Wasem obtain an MBA and an MSC in Finance and an MSC in Information Technology from Leicester University ,joining Wyldecrest in 2001. He has introduced a solid financial structure and date systems to the business that has allowed Alfie to concentrate on expanding the company. Wyldecrest Park achieved an ISSO 9001 certificate of Approval in May 2013 which means that the company are on the Lloyds Register of quality assured businesses.

3.2 Brief Description

Wyldecrest Ltd is a private company engaged in the running of Residential and Holiday Parks. The company currently employ 20 personnel who operate 30parks. All operations are directed from Head Office in London.

The company care for circa 3000 residents on the parks.
The are set of rules that the company need to follow in order to run the parks. 1 The caravan control and development Act 1960
2 The Written Statement under the Mobile Homes Act 1983
3 Caravan Acts 1968

Without adhering to this legislation the company will be unable to operate the sites legally and to control how Wyldecrest and the residents interact with one and other. Wyldecrest has two revenue streams that keep the business afloat:

1 The sale...
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