ACC 206 Final
Name
ACC 206 Principles of Accounting II
Analysis
instructor
March 25, 2012
PART-1
ABC Company has an annual sale of $1.2 million being a very predominant reliable company that would be fruitful, and having an increase in sales of 25% from the year prior. There is a possibility of successful growth of three million annual sales in the next three years of business. Being that the company is growing rapidly they should take the adequate steps to propertyanalysis the present routines and ongoing prediction. The internal control would be defined as a step were the organization’s structure affects, labor and authority flow, the information system of management and everyone, generated to assist the organization fulfill its goals or objective. An adequate internal control system in each company should exists in every functioning company. Internal Control systems would be more efficient and controlled when assigning separate duties, correct transaction authorization, a safety net for important files and document as well as assets. can be made more control by installing segregation of duties, proper authorization for transactions, adequate technology system for the company, proper maintenance of records, high quality level of the plans, process and so on and also by having a grasp of information processing. The company’s risk that would be taken are generally in the loss of the demands of the product, the new government policies within the manufacturing market, conflict in labor due to the economy, increase of taxes for business from the government amongst other things. Being that the company is moving forward and growing aswell as setting new manufacturing units project they would have to analysis the projects advantage and disadvantage very careful. The most efficient way to take control of the projects being a risk would be as follow:
• Required documentation to generate proper date for a positive effect performance for the
ACC 206 Principles of Accounting II
Analysis
instructor
March 25, 2012
PART-1
ABC Company has an annual sale of $1.2 million being a very predominant reliable company that would be fruitful, and having an increase in sales of 25% from the year prior. There is a possibility of successful growth of three million annual sales in the next three years of business. Being that the company is growing rapidly they should take the adequate steps to propertyanalysis the present routines and ongoing prediction. The internal control would be defined as a step were the organization’s structure affects, labor and authority flow, the information system of management and everyone, generated to assist the organization fulfill its goals or objective. An adequate internal control system in each company should exists in every functioning company. Internal Control systems would be more efficient and controlled when assigning separate duties, correct transaction authorization, a safety net for important files and document as well as assets. can be made more control by installing segregation of duties, proper authorization for transactions, adequate technology system for the company, proper maintenance of records, high quality level of the plans, process and so on and also by having a grasp of information processing. The company’s risk that would be taken are generally in the loss of the demands of the product, the new government policies within the manufacturing market, conflict in labor due to the economy, increase of taxes for business from the government amongst other things. Being that the company is moving forward and growing aswell as setting new manufacturing units project they would have to analysis the projects advantage and disadvantage very careful. The most efficient way to take control of the projects being a risk would be as follow:
• Required documentation to generate proper date for a positive effect performance for the