Chic Paints Lmtd Essay

4942 WordsOct 21, 201420 Pages
------------------------------------------------- CHIC PAINTS LIMITED : REVIEW OF THE ACCOUNTING PRACTICES AND STANDARDS OF THE CHIC PAINTS LIMITED AND ANALYSE THE ORGANISATION`S INTERNAL CONTROLLING MECHANISM CONTENTS: SECTION: PAGE 1. TERMS OF REFERENCE 2 .METHODOLOGY 3. EXECUTIVE SUMMARY 4.INTRODUCTION 5.REVIEW OF ACCOUNTING SYSTEMS 6. RECOMMENDATIONS 7. APPENDICES 1. TERMS OF REFERENCE 1.1 THIS REPORT HAS BEEN WRITTEN TO COVER THE REQUIREMENTS OF THE LEVEL 4 ISYS UNIT OF THE AAT ACCOUNTING QUALIFICATION 1.2 THE REPORT ALSO REVIEW CPL `S COMMITMENT TO SUSTAINABILITY AND HIGHLIGHTS ANY POTENTIAL ETHICAL ISSUES THAT MAY BE PRESENT 1.3 THE REPORT LOOKS AT THE ISSUES WITHIN THE ACCOUNTING PRACTICES AND STANDARDS OF CHIC PAINTS LIMITED AND SUGGESTS RECOMMENDATIONS TO HELP IMPROVE THIS FUNCTION. 2.METHODOLOGY 2.1IN ORDER TO REVIEW THE ACCOUNTING SYSTEMS AT CPL,ESPECIALLY ITS EFFECTIVENESS AND THE INTERNAL CONTROL PROCESS ,THE REPORT HAS EXTENSIVELY INCLUDED A WIDE NUMBER OF RESEARCH STUDIES WITH THE HELP OF ONLINE JOURNAL ARTICLES,BOOKS AND WEBSITES. 2.2IN THIS CONTEXT ,THE REPORT HAS BEEN INCORPORATED FOR IDENTIFYING A NUMBER OF TEHICALSTANDARS ALONG WITH ACTUAL POSSIBLE BREACHES OF PROFESSIONAL ETHICHS TO DETERMINE THE EFFECTIVENESS OF THE ETHICAL PRINCIPLES AND PRACTICES IN CPL. 3. EXECUTIVE SUMMARY The research report explores an in –depth understanding and of the accounting practices and standards of chic paints limited and analyse the organisation`s internal controlling mechanism. Moreover, the report also focuses on critically analysing and evaluating the current ethical practices in the organisation as well as identifying major issues in its accounting practices. In this regard, the discussion also ensures to recommend appropriate measures and practices to Chic Paints Limited for its sustainable accounting system and

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