Cookridge Carpets- Aat Internal Control Accounting System Essay

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1 -Terms of Reference 2 –Methodology 3 - Executive Summary 4 – Background of the company 5 - The Accounting System & Internal controls 6 – Evaluation of the Accounting Systems 7 – Strengths & Weakness in the Accounting System 8 – Recommendations for Improving the cash handling, Payroll & Accounting Systems 9 – Cost benefit analysis 10 - Conclusion 11 - Appendices 1) Terms of Reference 1.1 This project has been prepared to fulfill the criteria of Unit 10, managing systems and people in the accounting environment of Level 4 AAT. 1.2 The objectives of this report are: To identify the current weaknesses in the payroll and cash handling systems within Cookridge Carpets…show more content…
The main stakeholder is Peter Cookridge who invested £100,000 into the business. The company has recently been asked to be the main dealer of Memo beds and at the moment they have no competitors in their area. The business has started selling beds over the Internet. The company mission statement for the company is: “To provide an excellent level of service to all customers, whether they are spending £5.00 or £5000.00 –and to provide carpets beds and soft furnishings that make a house a home” 4.2 Cookridge Carpets like any business has external stakeholders, who have interests in the businesses performance and figures. Examples are: Customers, these rely on the good name of the business and the business performing well. Local community, there could be potential for expansion and create jobs. HMRC, as they will be paying tax and VAT Suppliers, by placing orders they are keeping other businesses going. Cookridge carpets will also have internal stakeholders, examples are: Shareholders, these are the two brothers who started the business. Employees, who rely on their jobs and expect to be paid each week for their services. 4.3 The core values within Cookridge carpets are: • Respect for all • To treat the customer as you would expect to be treated • Commitment • Accountability • Passion for continuous improvement • Professionalism 4.4 The main bulk of the company’s profits come from the sale of carpets. As well as being

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