Icas Aat Project
Introduction to the business
Listers Group
Listers Group is the largest privately owned motor group in England, operating over 40 dealerships representing the world’s major quality motor brands.
Acting as franchise partners for Audi, BMW, Honda, Mercedes-Benz, Mini, Smart, Toyota, Volkswagen cars and commercials, Lexus and Land Rover, Listers group offers excellence In the sale of new and approved used cars and vans, servicing and parts, and have won a number of national awards in these areas.
Principles of Internal Control
1 Demonstrate an understanding of the role of accounting within the organisation
1.1a There are various accounting functions within the Listers Group that deal directly with the department on site.These include Sales, Parts, Site Accounts, Administration and Workshop. The purpose of the onsite Accounts team is to process direct invoices, customer payments and deal with customer finance in relation to purchasing a car. The accounts team are relying on sales to make the initial sale, admin to process all documentation and accounts to finalise the financial side of the deal.Head office accounts team gather all the relevant information from ‘their site’ to process month end accounts with the aid of an accounting system called Elite.Appendix 3 - Dealership numbersIt is important for there to be a strong internal relationships between all teams, resulting in good communication and dependency on either side in order to gather and accumulate accurate information to keep the business growing.Every year in March and September a new registration plate is released – resulting in an influx of orders within the months before and a peak in sales within the months of March and September.It is crucial that the relationship between the Sales department and the Accounts department is very strong.Information and forecast need to be accurate and timely so that budgets can be
Listers Group
Listers Group is the largest privately owned motor group in England, operating over 40 dealerships representing the world’s major quality motor brands.
Acting as franchise partners for Audi, BMW, Honda, Mercedes-Benz, Mini, Smart, Toyota, Volkswagen cars and commercials, Lexus and Land Rover, Listers group offers excellence In the sale of new and approved used cars and vans, servicing and parts, and have won a number of national awards in these areas.
Principles of Internal Control
1 Demonstrate an understanding of the role of accounting within the organisation
1.1a There are various accounting functions within the Listers Group that deal directly with the department on site.These include Sales, Parts, Site Accounts, Administration and Workshop. The purpose of the onsite Accounts team is to process direct invoices, customer payments and deal with customer finance in relation to purchasing a car. The accounts team are relying on sales to make the initial sale, admin to process all documentation and accounts to finalise the financial side of the deal.Head office accounts team gather all the relevant information from ‘their site’ to process month end accounts with the aid of an accounting system called Elite.Appendix 3 - Dealership numbersIt is important for there to be a strong internal relationships between all teams, resulting in good communication and dependency on either side in order to gather and accumulate accurate information to keep the business growing.Every year in March and September a new registration plate is released – resulting in an influx of orders within the months before and a peak in sales within the months of March and September.It is crucial that the relationship between the Sales department and the Accounts department is very strong.Information and forecast need to be accurate and timely so that budgets can be