Aat Project Based on the Internal Control of Cookridge Carpets Ltd
1. Terms of Reference
1.1. The researcher made investigation on the effectiveness of the internal Controls and accounting system of Cookridge Carpets Company. It also has some additional contents such as recommendations that helps the company to improve its strengths and weaknesses to protect the company’s reputation. 1.2. The researcher also investigated on the stakeholders of the Cookridge Carpets company, both internal and external. The stakeholders play a very important role in helping the company’s growth. 1.3. The report also investigates that the costs and benefits to Cookridge Carpets and stated that fraud is a major threat of the company. It is also been recommended by the researcher the terms in which this risks should be avoided.
1.4. Lastly the researcher also investigated that the requirements of the internal Controls and Accounting systems Paper is part of the AAT Level 4 Diploma in Accounting.
2. Executive Summary
2.1. This report investigates the effectiveness of the internal controls of the accounting systems of Cookridge Carpets company. The recommendations are also made to show ways in which the Cookridge Carpets company can improve its system and performance. It is investigated that Cookridge Carpets company uses the centralized accounting system. That is, its accounting system is done in one place. As findings of the use of centralized accounting system were made, it is recommended that the accounts staff of Cookridge Carpets should be trained and be qualified in order to be Competent on their work. Thus improve the performance of the company. 2.2. The researcher recommends that the Cookridge Carpets company should maximize its security system to reduce the risks of fraud within the company. As well as BACS payments system
1.1. The researcher made investigation on the effectiveness of the internal Controls and accounting system of Cookridge Carpets Company. It also has some additional contents such as recommendations that helps the company to improve its strengths and weaknesses to protect the company’s reputation. 1.2. The researcher also investigated on the stakeholders of the Cookridge Carpets company, both internal and external. The stakeholders play a very important role in helping the company’s growth. 1.3. The report also investigates that the costs and benefits to Cookridge Carpets and stated that fraud is a major threat of the company. It is also been recommended by the researcher the terms in which this risks should be avoided.
1.4. Lastly the researcher also investigated that the requirements of the internal Controls and Accounting systems Paper is part of the AAT Level 4 Diploma in Accounting.
2. Executive Summary
2.1. This report investigates the effectiveness of the internal controls of the accounting systems of Cookridge Carpets company. The recommendations are also made to show ways in which the Cookridge Carpets company can improve its system and performance. It is investigated that Cookridge Carpets company uses the centralized accounting system. That is, its accounting system is done in one place. As findings of the use of centralized accounting system were made, it is recommended that the accounts staff of Cookridge Carpets should be trained and be qualified in order to be Competent on their work. Thus improve the performance of the company. 2.2. The researcher recommends that the Cookridge Carpets company should maximize its security system to reduce the risks of fraud within the company. As well as BACS payments system