ICAS Report Pl Cookridge Carpets Ltd
ICAS Report Plan
Name: Joe Bloggs
Email address:
Phone number:
Description of organisation
Briefly describe what the organisation does and what department you will be reviewing.
Cookridge Carpets Ltd is a large carpet, soft furnishings and bed dealership. They are the main dealership for Memo@memory foam beds and mattresses in the area of Southampton. The payroll department will be the department to be reviewed.
What financial statements does your organisation produce and why?
The organisation produces three types of financial statements:
Firstly, they produce the income statement. The income statement provides information on the operation of the company, which reports on the company's income, expenses, and …show more content…
The cash flow statement reports on a company's cash flow activities, particularly its operating, investing and financing activities.
The company produces these financial statements to create a set of accounts which can then be used for multiple purposes. For example owners and managers use these financial statements to make important decisions relating to actions to increase profit or reduce cost of sales. Also the tax authorities, for example HMRC, will need these financial statements, as they will need to determine the accuracy of taxes and other duties declared and paid by a company.
What software do they use? Are there better alternatives?
Within the accounts department, Cookridge Carpets Limited uses two main types of software. These are Microsoft Excel and Microsoft Word 2007. The company use Excel to keep inventory levels up-to-date. Microsoft Word is also used to produce a template for invoices.
There is an alternative, which is a quick and simple way of producing invoices, with either software called Sage Line 50 or QuickBooks. QuickBooks is relatively cheap (£99) and has all the tools to create and raise invoices, or there is Sage Line 50, which is more expensive (£580), however this includes a tool that is able control stock levels as …show more content…
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|and therefore if she is on holiday, as per a couple of weeks in |Dr Wages £335 |
|December 2009, then there is no one to step in, she has to complete |Cr Bank £335 |
|3 weeks in advance which is a waste of time, and then has to waste |More wages will unnecessarily be spent as well, if situations keep |
|more time, putting through adjustments to peoples wages. If there |arising that pay packs cannot be found and wages are calculated |
|are a lot of adjustments to be made, this could also lead to more |based on the rota, and not take into account sick days or holiday |
|errors. Another example is when Sonja was not in the office in |leave.
Name: Joe Bloggs
Email address:
Phone number:
Description of organisation
Briefly describe what the organisation does and what department you will be reviewing.
Cookridge Carpets Ltd is a large carpet, soft furnishings and bed dealership. They are the main dealership for Memo@memory foam beds and mattresses in the area of Southampton. The payroll department will be the department to be reviewed.
What financial statements does your organisation produce and why?
The organisation produces three types of financial statements:
Firstly, they produce the income statement. The income statement provides information on the operation of the company, which reports on the company's income, expenses, and …show more content…
The cash flow statement reports on a company's cash flow activities, particularly its operating, investing and financing activities.
The company produces these financial statements to create a set of accounts which can then be used for multiple purposes. For example owners and managers use these financial statements to make important decisions relating to actions to increase profit or reduce cost of sales. Also the tax authorities, for example HMRC, will need these financial statements, as they will need to determine the accuracy of taxes and other duties declared and paid by a company.
What software do they use? Are there better alternatives?
Within the accounts department, Cookridge Carpets Limited uses two main types of software. These are Microsoft Excel and Microsoft Word 2007. The company use Excel to keep inventory levels up-to-date. Microsoft Word is also used to produce a template for invoices.
There is an alternative, which is a quick and simple way of producing invoices, with either software called Sage Line 50 or QuickBooks. QuickBooks is relatively cheap (£99) and has all the tools to create and raise invoices, or there is Sage Line 50, which is more expensive (£580), however this includes a tool that is able control stock levels as …show more content…
|
|and therefore if she is on holiday, as per a couple of weeks in |Dr Wages £335 |
|December 2009, then there is no one to step in, she has to complete |Cr Bank £335 |
|3 weeks in advance which is a waste of time, and then has to waste |More wages will unnecessarily be spent as well, if situations keep |
|more time, putting through adjustments to peoples wages. If there |arising that pay packs cannot be found and wages are calculated |
|are a lot of adjustments to be made, this could also lead to more |based on the rota, and not take into account sick days or holiday |
|errors. Another example is when Sonja was not in the office in |leave.