Example of Project
RECOMMENDATIONS FOR IMPROVEMENTS TO THE ACCOUNTS PAYABLE DEPARTMENT AT COOKRIDGE CARPETS LTD
An example of a competent submission for a previous scenario
INDEX 1 2 3 4 5 6 7 8 9 10 Terms of Reference Executive Summary Methodology Introduction Structure and purpose of the Accounts Payable Function Current Accounts Payable system Weaknesses and improvements to the current Accounts Payable system Recommendations and Cost Benefit analysis Appendices Mapping to the assessment criteria
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TERMS OF REFERENCE This report has been prepared to cover the requirements of the Internal Controls and Accounting systems learning and assessment area of Level 4 AAT Diploma in Accounting. The report looks at the need to improve the Accounts Payable function of Cookridge Carpets Limited.
2
EXECUTIVE SUMMARY The information contained in this report analyses the current Accounts Payables systems at Cookridge Carpets Limited. It looks at the weaknesses in the system in terms of staffing, training, purchasing and accounting procedures, internal control, management information and information technology. Improvements have been suggested for each area to reduce the risk of errors and fraud occurring. The aims of the improvements are to ensure that the organisations requirement for accounts information is being achieved and to ensure that useful information is easily available. Several recommendations have been suggested for initial implementation. These cover specifically the need to ensure staff have the right knowledge and equipment to perform their jobs efficiently and effectively. These recommendations are the introduction of an integrated accounts package, backup storage, staff training and staff attendance. There is also the recommendation for documenting the accounting processes of the organisation. These procedures can then be used for guidance and training.
3
METHODOLOGY To begin this project the Senior Accounts Clerk examined the evidence provided and
An example of a competent submission for a previous scenario
INDEX 1 2 3 4 5 6 7 8 9 10 Terms of Reference Executive Summary Methodology Introduction Structure and purpose of the Accounts Payable Function Current Accounts Payable system Weaknesses and improvements to the current Accounts Payable system Recommendations and Cost Benefit analysis Appendices Mapping to the assessment criteria
1
TERMS OF REFERENCE This report has been prepared to cover the requirements of the Internal Controls and Accounting systems learning and assessment area of Level 4 AAT Diploma in Accounting. The report looks at the need to improve the Accounts Payable function of Cookridge Carpets Limited.
2
EXECUTIVE SUMMARY The information contained in this report analyses the current Accounts Payables systems at Cookridge Carpets Limited. It looks at the weaknesses in the system in terms of staffing, training, purchasing and accounting procedures, internal control, management information and information technology. Improvements have been suggested for each area to reduce the risk of errors and fraud occurring. The aims of the improvements are to ensure that the organisations requirement for accounts information is being achieved and to ensure that useful information is easily available. Several recommendations have been suggested for initial implementation. These cover specifically the need to ensure staff have the right knowledge and equipment to perform their jobs efficiently and effectively. These recommendations are the introduction of an integrated accounts package, backup storage, staff training and staff attendance. There is also the recommendation for documenting the accounting processes of the organisation. These procedures can then be used for guidance and training.
3
METHODOLOGY To begin this project the Senior Accounts Clerk examined the evidence provided and
Bibliography: AND RESOURCES USED Internal Control and Accounting Systems 2011-12 Kaplan Publishing Internal Control and Accounting Systems Osborne Books AAT Accounting Technician Set/Oct 2012 Premier Training advertisement www.pcworld.co.uk www.businessitguide.com www.business.bt.com