Sales Accounting System Risks

Lowe’s is a home improvement warehouse that was founded in 1946 as a single store and since has grown to become the second largest in the world. As technology has evolved, Lowe’s has made many advances incorporating new systems and devices to stay competitive. The purpose of this paper is to evaluate the information technology management systems used at Lowe’s. It will look at Porter’s Five Force Model, supply chain management; data base management system, five agent-based technologies, e-commerce and system development lifecycle. Furthermore, it will look at business continuity planning, emerging trends and security vulnerabilities relates to the organization to remain competitive.

SMW’s current accounting information system is a cutting edge relational database system through Microsoft Access with internal controls set to adequately prevent and detect errors and fraud. This relational database system tracks sales orders, shipments, accounts receivable, cash receipts, purchases, accounts payable, cash disbursements, inventory levels and other relevant accounting information. The system’s output is compliant with Generally Accepted Accounting Principles (GAAP). The database processes currently in use at SMW are described below.

* Failure of key information technology or process; including customer facing and privacy disruptions and disruptions in the interconnected retail strategy.

Another aspect of its success is how it functions is in the human resources department. The company has been recognized for being innovative and effective for its stay interviews and manager certification programs (Ruggles, 2011). “"Their turnover rates for both management and hourly employees were among the lowest in their industry segment,? said Joni Doolin, founder of the People Report, a research firm and sponsor of the conference along with Black Box Intelligence, another research firm” (Ruggles, 2011). Instead of performing exit interviews the company utilizes stay interviews designed to improve working conditions to impress upon employees to stay. In order to efficiently monitor sales and inventory the company utilizes a Point of Sale(POS) system as items are rang up in the register providing at real time key spending and income factors.

The chances of failures can be decreased by executing the checks on the systems. These keep an eye on the systems preventing risks from occurring, and these checks are avoided as the interior controls. The motivation behind the inner controls is to keep the organization safe from risks associated with the modernized accounting-system risks. Organizations change their manual accounting systems to computerized accounting systems for different reasons, this incorporates the points of interest, and the explanation behind utilizing electronic accounting information is instinct. The organizations embrace the policies of their

#2. Internal Control Risks; audit planning decisions. Some internal control risks common among large, high-volume retail stores include dealing with inherent limitations and potential fraud. Even if a well-designed internal control system is in place, the employees using it are ultimately the deciding factors in its effectiveness. For example, management may instruct an employee or easily-influenced executive (of another company) to alter information or confirmations or multiple employees may conspire to steal assets or misstate records (collusion; misappropriation of assets).

Another aspect of its success is how it functions is in the human resources department. The company has been recognized for being innovative and effective for its stay interviews and manager certification programs (Ruggles, 2011). “"Their turnover rates for both management and hourly employees were among the lowest in their industry segment,? said Joni Doolin, founder of the People Report, a research firm and sponsor of the conference along with Black Box Intelligence, another research firm” (Ruggles, 2011). Instead of performing exit interviews the company utilizes stay interviews designed to improve working conditions to impress upon employees to stay. In order to efficiently monitor sales and inventory the company utilizes a Point of Sale(POS) system as items are rang up in the register providing at real time key spending and income factors.

With every internal control weakness a company needs to identify either a control policy or control procedure that will help prevent error or fraud from occuring in the future. Based on my suggestions as to what weaknesses existed at Goodner Brothers, Inc. I have suggested the policies or procedures that could be implemented to help prevent future issues. The internal control I would implement to hinder employee access to the accounting system would be to secure all computer programs with individual usernames and passwords to prevent access from others. The bookkeeper should be the only employee with access to the accounting system and to test this procedure the company would need to try and access the software without a username and password. To monitor the storage warehouse situation, the company should install computer scanning systems and video cameras at each location to supervize whether tires are being scanned in and out upon delivery and pick-up and to determine who and when these transactions are taking place. Semi-annual reviews should be conducted by sales managers to evaluate their sales representative. In addition, strengthening the tone at the top mentality should lie in the hands of each owner by personally reviewing all sales managers to create a top down effect.

This memo will discuss ways that technology can be used to improve this organization’s performance. Additionally, it will consider the optimal methods for expanding the business’s online presence to include online sales. This will include information on how to incorporate intelligent systems and security features to guarantee that customers’ interaction with the new system will be positive. This memo will also analyze this business’s current and anticipated technology and information systems and provide option for other technologies or information systems that will be beneficial for the company. In discussing these options, information will be included to show how the options will advance or improve the business and enhance our customers’ experience.

[pic]s a senior in a professional services firm, you have been assigned to plan the financial statement audit of a private company named Toy Central Corporation (TCC). In addition, the partner on the engagement has asked you to identify business risks that could adversely affect TCC’s sustained profitability, so that they can be brought to the attention of the company’s board of directors. These tasks will require you to draw on your knowledge of supply chain management, marketing, internal controls, audit assertions, and financial accounting.

These transformative changes to the selling environment are ultimately forcing the salesperson to reengineer and rethink how they approach their business accounts. Failure in adapting to these changes can result in many adverse situations but ultimately revolves around ineffective team selling.

This would attract more customers since it would make it convenient for people to do their shopping on line. More and exciting opportunities might arise and make way for possible expansion of the business.

The organisation I chose for this assignment is called J Sainsbury plc. J Sainsbury plc is one of the world's leading retailers, playing a part in the lives of 15 million customers a week. John James and Mary established Sainsbury Supermarkets in 1869. Sainsbury's Supermarkets employs over 138,000 people. Of these 70 per cent are part time and 30 per cent are full time. 58 percent of colleagues are women. A large Sainsbury's Supermarket offers over 23,000 products - 40% of these are Sainsbury's own brand. Sainsbury's serve nearly 10 million customers at 432 stores throughout the UK each week. Of these stores, 17 are in Scotland, nine in Wales and seven in Northern Ireland. Nearly 60 percent of

This term paper exercise is designed to have you study the specific sales practices of a company

Technology provides many benefits to the retail industry and its managers; it also has drawbacks. Implementing new technologies presents learning curves for managers, staff, and team members and introduces new areas of risk (Davis, 2007). Some team members can be resistant to changes causing retailers to lose time