Financial Accounting: Tools for Business Decision E-Text ACC/400 May 6, 2013 Financial Accounting: Tools for Business Decision E-Text Chapter 7: Exercise E7-2 Culotti’s Pizza operates strictly on a carryout basis. Customers pick up their orders at a counter where a clerk exchanges the pizza for cash. While at the counter, the customer can see other employees making the pizzas and the large ovens in which the pizzas are baked Instructions: Identify the six principles of internal control and give an example of each principle that you might observe when picking up your pizza. (Note: It may not be possible to observe all the principles.) 1st Principle – Establishment of responsibility * Only one person is responsible for a …show more content…
Additionally, volunteers will need to take a course familiarizing would-be ushers with standard operating procedures, and reporting standards before being qualified to volunteer for usher position. This will help solidify controls for the ushers. Head Usher: While the church may not be currently experiencing anything wrong with the usher selection and volunteer system at the church, some improvements might be considered. The church might consider making the head usher a year-long term, elected by church members to create continuity, but also impose term limits – possibly every 3-4 years a head usher must take a sabbatical. Additionally, because the head usher role is so pivotal in the collection process, and it is a place where mistakes or malfeasance can easily take place; it would be helpful for the ushers and the financial secretary to be present in the collection counts, the day of, so someone outside the usher department can verify tithe counts. Financial Secretary: The most glaring issue, which opens up easy access for, would be embezzlers in the congregations check policy. All checks being written to cash basically enables anyone to cash out the check, the church, a rouge employee or volunteer, or otherwise. All checks need to be made out to the church, not to cash. It would be even better if the church went the route of many churches by allowing donors to have donations processed monthly (or weekly depending on donor preference) through
Since the majority of US thrive on the use of credit cards, the accounts receivables for a company may no longer be on a cash-to-cash basis. A company may need to sell these accounts to other companies who specialize in handling accounts receivables if they need cash more quickly or if it would be too costly to perform the necessary billing to collect on the account.
Larson Inc. must consider the alternative economic futures for their industry. In any market, economic conditions will change over time. The company must be able to adapt and change with the economy to remain successful. The company needs to find solutions for the changing economy to keep increasing their revenue and decreasing their costs. The economy may go through a recession, expansion and peaks over their years in business. Larson, Inc. needs to analyze the difference scenarios and determine the best course of action for each type of economic future. Also, the company must consider the economy’s stage in the business cycle to make well-informed decisions.
It is so important to the committee so they can check if the cash balance is still okay. The director can check if everybody does his work well and if there are no financial problems. The clients need to know if Sunshine is fair and the church members are maybe willing to serve the committee if they know
Answer: a) When the sales force is having relation with the target cost and able to estimate the sale cost then depending on the situation they can make an increment in the sales cost to sell the product.
In the lesbian, bi-sexual, gay and transgender (LGBT) community affirmative action should also obtain continued changes. Brandi Bower, longtime Hastings resident and LGBT advocate notes some of the changes that are needed, starting with Nebraska Legislative Bill 568 (LB 586). LB 586 document states the following actions for the communities rights, “Prohibiting disqualification of any person from taking an examination, from promotion or from holding a position because of race, sex, unless it constitutes a bona fide occupational qualification, or national origin, physical disabilities, age, political or religious opinions or affiliations, sexual orientation, gender identity, or other factors which have no bearing upon the individual's fitness
Exhibits 6, 8, 9, and 10 provide a great deal of information to TruEarth Pizza, including several necessary areas of continuing product development. Creating more appealing varieties and finding a way to increase the convenience factor, for example, would be excellent ways to improve customer response to the product. There are other, more distressing problems that suggest the entire model might be flawed and ultimately unprofitable: two of the most substantial dislikes of the
Budgeting has been worked out with Lone Star Pizza to support their operation. Pricing has been determined based on their criteria of 1 main account with 15 additional users. The cost break down for their ERP system is as follows:
When you order pizza, there’s a kind of dance that is set in motion: a staff person takes your order, fresh pies are made on the spot and then another person in the team brings it right to your front door. And, as the team at La Crosse, WI’s South Lanes Pizza can tell you, while most are accustomed to tipping in restaurants—where food travels a few feet—it’s a shame that many don’t provide the same courtesy to food and pizza delivery people.
They do however want the people they support in a church plant to have some sort of outside accountability in place. First overseers to step in for a moral or leadership problem, then financially trustees to monitor budgets and spending.
Arrowmark Vending has the contract to supply pizza at football games for a university. The operations
Council members worked alongside clergy and leadership, to monthly review the finances, to liaise with various ministries, to preview Cathedral directions, and to recommend pathways towards ministry development. The Council was co-chaired by James Conklin and Jane Hope; the secretary was Carmen Hall.
As I waited for my dinner, I couldn’t help but notice the glow of the yellow lights which made the bistro, have a glow that was neither too dark nor too bright. The atmosphere was casual and relaxed. There was even a TV on the left side of the wall showing a football game. When I got there it was about seven thirty at night and the bistro, which closes at ten, was pretty much empty. After about five minutes of waiting the server came out with my two slices of plain pizza. This surprised me for two reasons: one; because I thought I would have to come to the counter to pick it up, and two; because it felt like it came out fast. Due to its fast service, casual atmosphere, and its Italian theme, I would categorize La Bella Bistro as a bistro or a pizza place. Every pizza place or any restaurant is only as good as its staff.
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We would obtain this information through various avenues. The size of the congregation and the number in our team would be beneficial because there would not be too many congregants, while there would be enough staff that we could break up, who would tackle all the congregation at once or, we could break them up and assign a few members of our team to interview all the congregants either through home visits or meals with the congregants. The congregants’ interviews would be two fold, to first ask them what they thought about strengths of the congregation and, what they thought the congregation could bring to the community. The second would be getting to know the congregants on an individual basis so that we could ascertain their level of involvement, their gifts and graces. Another avenue to find these things could be a survey similar to what I have seen it in some congregations. Bennet stated that it be volunteering with different ideas, for new ministries and, seeing what people would be willing to help with. Not only would we use these forms and interviews to find out what they would be willing to help with, but more important would be to learn what they would be in need of. We would need to remember that a congregation would be at the top of priorities and so there ought to be
The seventeen principles laid out in the 2013 framework are fundamental concepts that are associated with the five components of internal control. The 2013 framework requires that each relevant principle be present and functioning in order to demonstrate that all five components are present and functioning