ISYS Report

Operations is separate from the accounting department. The employees in operations handle promoting the products. Also, Operations is in charge of making the products. The company’s accounting system is handled in-house by the cashier and the bookkeeper and by the accounting firm hired to handle the businesses’ financial reporting. The cashier handles all sales through the register. The register is balanced against the drawer each night by the bookkeeper and a deposit made the same day. The bookkeeper gives the accountant the drawer receipts and bank receipts for journal entries and later reports. The accountant checks all cash received and payments made against bank statements and collected paperwork. There is not a single person assigned to do all duties.

A SWOT analysis looks at a company’s strengths, weaknesses, opportunities and threats. The following is a SWOT analysis of Petco, a well known company that provides the common products that pet owners would need. Taking a deeper look into how they got started, what their strengths, weaknesses, opportunities and threats are in the prosperous market place that has a high demand for pet products in today’s culture that are reliable and inexpensive.

A SWOT analysis assesses the internal and external environment your product will be operating in. To perform your SWOT analysis, discuss two strengths, two weaknesses, two opportunities and two threats. Remember strengths and weaknesses are internal to your business usually having something to do with you and or your employees. Opportunities and threats are external, usually having something to do with competition,

A SWOT analysis is an excellent tool for gathering information that outlines the businesses strengths, weaknesses, opportunities and threats, for use in the business plan (Chapman S., 2006). It is an effective technique that can be analysed in the table below in figure 17, for Gecko Hair.

Credit control is a system used by businesses to make sure that it credits customers who are able to pay and on time. This is critical as it reduces the risk of bad debts and frees up cash within the business therefore avoiding having to pay interest on overdrafts or the use of expensive invoice discounting. This however requires the ability as well as the right systems and procedures in place to be successful. The reason being is that it is not just the collection of money from late customer’s payments but instead credit control is about building good rapports with customers. Credit control is also about assessing the potential risk from customers even before a sale is made and foreseeing the amount of credit that can be offered and (if any) extending payment periods. This of financial distress need to be addressed soon as, in order to minimise the risk of being owed money however needs to be carefully monitored as credit ratings need to be kept current and any signs which could potentially lead to a business going into

In order to grow the business, I have completed a SWOT analysis table, looking at the headings of the HRM, accounting and finance and the marketing departments as all of the findings need to be taken into account when making any business decisions. Below I have shown my swot analysis table. This is used to ensure that I have taken all aspects of the business into account before I analyse where the strengths and weakness of the company lie.

Plastering companies can learn a lot from conducting a SWOT analysis. A SWOT Analysis will provide you with the comprehensive documentation that you will need in order to determine the strengths, weaknesses, opportunities, and threats that your business will face as your develop or expand your business operations.

SWOT is an abbreviation for Strengths, Weakness, Opportunities and Threats which shows the company’s performances for the whole year. SWOT Analysis is only used when decision making situation arises and when a desired objective is well-defined. SWOT Analysis of Harvey Norman provides a tactical SWOT analysis of the firm’s dealings and manoeuvres. The SWOT analysis of Harvey Norman can provide a competitive

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The Controller is often thought same as Chief Financial officer (CFO), but they both are different. Controller reports to CFO if the company has one. Otherwise, h/she reports to the President of the company. CFO reports to the Chief Executive Officer (CEO) or the President. Other accounting managers and accountants report to the controller. “A financial controller is an individual in a company that is the head of the accounting division within the company” (Wilkinson, 2013). He is fully responsible for company’s financial reporting. Some of the responsibilities of the financial controller are assisting with the annual audit, perform accounts payable and accounts

Team C analyzed the accounts payable, accounts receivable, payroll, and inventory systems for Kudler Fine Foods. Kudler would now like to see a proposed audit schedule for these systems. The team will distinguish between the types of audits that may use for each process. The team will also recommend the most appropriate audit for each process and explain how to conduct the audits. Identifying events that may prevent reliance on auditing through the computer will also be presented to Kudler for review (Apollo Group, 2009).

The recent growth in business, especially the new contracts, implies a significant increase of accounting transactions. It calls for qualified full-time accounting staff (rather than the current inexperienced part-time accountant), and sound financial management, which involves policies and procedures, documents and tools, to help us keep the operation on track and achieve the business goals. Being your new controller, I would be responsible for business planning. I will be mostly involved in financial forecasting and budgeting and will help in the financial analysis. I would recommend that we hire one cost accountant to conduct cost analysis and pricing; one full-time accountant to perform the routine accounting functions and assist in ad-hoc accounting activities. We should also develop useful tools to help undertake these tasks. Official reports for forecasting/budgeting, financial analysis and cash flow management should be prepared and reviewed on a regular basis, which would help in short-term and long-term planning and decision-making.

The comptroller management is responsible to gather the reports of the current payments that the firm has made and the current income that the firm has received. It is different from overall management which is required to supervise the short term and the long term trends of the firm.

The Management’s Discussion and Analysis of Rainbow Paint Company make available the examination of the company’s financial results for the period ended December 31, 2012. The following facts should be studied in combination with the audited financial statements and notes to accounts for the period ended December 31, 2012 which is made according to appropriate principles and procedures. All amounts are stated in dollars unless otherwise noted.

To draw a concluding, a SWOT analysis is used, Strengths, weaknesses, opportunities and treads are listed. Companies use the SWOT analysis to improve and make necessary changes to the company. In this case, the SWOT analysis makes clear that the IKEA Company, produces low priced and creative goods.