(TCO A) Describe the relationship between quality and personal values. 4. (TCO H) Identify and discuss five differences between service and manufacturing organizations. 5. (TCO B) Cite two ways that the accounting function can contribute to the achievement of quality.
The Finance Director, Chief Accountant, Accounts Payable Clerk, Accounts Receivable Clerk, General Ledger Clerk, Costing Technician, Payroll Clerk and Accounting Systems Technician. See appendix 2 for an organisation chart. They all have different roles and work together to provide the financial information that the shareholders require to be able to assess the performance of the business. The accounts staff work closely with the sales staff as they need information regarding the sales of the company to enable them to raise invoices. They also liaise with the warehouse staff to know what goods have been supplied and by whom so that they are aware of the invoices that will be received from the suppliers.
1). Internally, a cash flow statement helps an organization check its inflows and outflows of cash; from this the company can see if they have a shortage or surplus of cash. A cash flow statement will also help a company evaluate its ability to pay its bills in a timely manner. Managers can use cash flow statements to see whether he or she has cash available for the day-to-day expenses of the company. Employees can use this statement to estimate if the company will be able to afford compensation.
2. Recognize and apply legal principles in the areas covered by the course when evaluating a proposal, writing a contract and/or making a recommendation to a client. 3. Understand product liability issues and recotnize contractual and non-contractual liability in business transactions. 4.
A good _________ enables an accounting manager as well as auditors to follow the path of the data recorded in transactions form the initial source. 14. A control activity of an internal control system that focuses on structuring work assignments among employees so that one employee's work activities serve as a check on those of another employee is called ______________. 15. What kind of analysis should be performed when considering if an internal control procedure should be implemented?
b) What is the purpose of the budget you are communicating? The purpose of the budget that i am communicating is to allocated roles of the job to staff members. c) What do you need to achieve through communication? I need to let staff members know their position in the organisation, their responsibilities to make decisions d) Is your purpose to inform or persuade? To inform.
However, an implicit assumption is that users need reasonable knowledge of business and financial accounting matters to understand the information contained in financial statements. This point is important. It means that financial statement pre- parers assume a level of competence
An organization that provides a financial statement to the public, investors or government funding entities must follow the set standards developed by Financial Accounting standards Board (FASB). Information documented within a report must be reliable, consistence, and have comparability outcomes and measurements delivery objectives. An
The company will have to forge alliances with partners to participate in the loyalty program which will affect the sales department as well as upper management. Operational The loyalty program should be functional during the times that the company is open for business. It should passively collect customer data as customers swipe their loyalty cards during transactions. The system should make reports available to management so that they can focus on reducing the cost of orders and stock-outs while increasing customer purchase behavior with targeted offerings.
Decide 3. Act 4. Review You start with the assess stage; this is where you clarify you financial goals and work on prioritising them (Brown and Shipman, 2012). These goals could be personal or household goals; or a mix of both. You then need to work out your resources (income) and constraints (expenditures). This stage is used to help realise if the current financial position is likely to lead to achieving the goals you set out – this can be done through research of seeking out professional advice.