TABLE OF CONENTS INTRODUCTION PG 1 COMPANY EVALUATION PG 2 COMPLIANCE AND RECOMMENDATION PG 4 SUMMARY / CONCLUSION PG 5 REFERENCES PG 6 Introduction The primary objective of Accounting Ink, is to provide LJB Company with the required information to consider the regulations for converting to a publicly traded company. Within this analysis we will identify internal controls currently being used within business operation and the required mandated internal controls enforced by the Sarbanes Oxley Act. Internal Controls are established and or regulated by the Sarbanes-Oxley Act. There are six principles of internal controls 1) Establishment of responsibility, 2) Segregation of Duties, 3) Documentation Procedures, 4) Physical Controls, 5) Independent Internal Verification and 6) Human Resource Controls (Keller, 2012). Companies and their independent accountants or auditors should report the effectiveness of the companies internal controls based on these six principles.
| Unit 26 Managing Business Information | BTEC L3 Diploma/Ext. Dipl. - Business | | Salindu Sadishan | 12/5/15 | Assignment 1 of 1: Know how organisation use business information and maintaining an information system | Content Introduction 2 Task 1: Explain the sources of information needed in a selected organisation. 2 1.1 External and Internal Sources of Information 2 1.2 Primary and Secondary Sources of Information 3 1.3 Qualitative and Quantitative Data 3 1.4 Source of Information 3 Task2: Describe the characteristics of the information needed in a selected organisation. 5 Task 3: Input and manipulate the data entered into data management software (P5) 0 Produce Information in suitable format to support business decision making (P6) 0 3.1 A table 0 3.2 Create a form 0 3.3 Create a query 1 3.4 Create a report 1 3.5 Delete one of the records 2 3.6 Give a brief description of the query function and give an example of how it could assist Mr. Qureshi in his everyday tasks 3 Task 4: Describe how information is used for different purposes in a selected organisation (P3) Explain how business information is used for different purposes in a selected organisation (M1) 0 4.1 Differentiation of computerized and paper based ledgers 0 4.2 The Benefits of Using Database 1 Task 5a) Compare the features of different types of software used in producing information to support business decision making (M2) 1 Task 5b) Analyse information produced in different formats to support business decision making (M3) 2 Task 6: Describe the legal issues an organisation must consider in using business information (P4) 3 Task7: Recommend how a selected organisation could improve the quality of its business information to support decision making.
You must reference all the sources of information used in your assignment. Requirement: (AC1.1) Explain the purpose and use of different accounting records. Briefly explain why it is needed and how it is used to record all the business transactions in an organisation like Tesco (PLC). (AC1.2) Assess the importance and meaning of the fundamental accounting concepts within the context of your organisation. (AC1.3) Evaluate the factors which influence the nature and structure of accounting systems of Tesco Plc.
I will be using their annual report from 2011, and explain the main sections of the report, discuss key factors that helped influence the company’s financial performance for the year stated above, the company’s assets, and we will also explain how management characterizes the internal control environment. Annual reports for a company are usually divided into sections to separate different topics or ideas. In the annual report for eBay, the main sections that are spoken about are the business section, legal proceedings, selected financial data, market for related stockholder matters and issuer purchaser equity. The business section of the annual report basically tells exactly what the business is. It informs the reader on when the business was founded, who founded it, what products and services the business offers, and how many customers have used their business.
Based on these conclusions the report highlighted a number of issues and recommendations that Amazon.com should take into consideration in the future to enable their strategy to continue to be a worldwide success. These include: 1. Amazon.com need to maintain their focus on providing what is best for the customer and the lowest possible price to ensure continued market growth. 2. The long term success of the firm is partially dependant on the management and employees of the firm.
Accounting is a way to communicate financial information about a business to those who wish to use the information to make decisions. Two types of accounting are management accounting and financial accounting. Management accounting is used by managers to run a business. Financial accounting provides information to various external users. (Horngren, 2012) Financial statements and their related disclosure notes provide information such as the results of operations, the financial position of the business, and cash flows.
Task 1 : Criteria P1, M1, D1 Due Date: 14.10.13 Choose a business to research and base your tasks on. (Ensure that you select a business that can enable you to meet the criteria.) P1: Complete a table like the one below to show the types, sources and purposes of information used within the organisation. Try to include at least two examples of each type of information. Type of information Example Description Purpose Source Verbal Written On-screen Multimedia Web-based ● Where possible cross reference your example to evidence of this in your appendices, for example, a screenshot of web-based information or a copy of a letter.
Q1. What are the three types of financial management decisions? Title of paper here Your name here School name here Course name here Course number here Instructor’s name here March xx, 20xx Unit 1 Case Problem Q1. What are the three types of financial management decisions? For each type, give an example of a business transaction that would be relevant Three types of management decisions are what type of long term investments to take on (Capital Budgeting), where to get the financial backing for the investments (Capital Structure), and how to manage the everyday financial activities (Working Capital Management).
Executive summary The aim of this report is to analyse Tesco’s strateiesy both in corporate level and business level. The report will begin with the background information in Tesco, then the overall business will introduce Tesco’s current business situation, competition, operation and important issues. Secondly, the advantages and problems of product – diversification strategy are formulated. Followed by the ways of diversification, Tesco also made good use of cost leadership strategy and differentiation. Following the corporate strategies and based on relevant strategic management theories and concepts, this report will analyse the company’s current strategies on expanding in the US market.
ACC202 Module 1 CAS Trident University 15 January 2015 There are two different types of accounting that I will be discussing. There is financial accounting and managerial accounting. Financial and management accounting are both important tools for a business, but serve different purposes. Financial accounting is used to present the financial health of an organization to its external stakeholders. Board of directors, stockholders, financial institutions and other investors are the audience for financial accounting reports.