Sales Operation System Implementation Audit

Kudler policies and procedures will be reviewed using a risk-base audit approach. Attribute sampling technique will test internal controls of the POS System Observed sales transaction made at each store. Using the variable sampling technique, financial report from REMS system and bank statements obtained from the bank will be compared to Kudler 's bank reconciliation reports. After the evidence is gathered and reviewed an overall audit opinion will be given to determine if objectives were met and whether procedures were sufficient.

Performance appraisal systems play an important part in the process of performance management (Cascio, 2006) and toward ensuring consistency and fairness; this proposal recommends Kudler Fine Foods to use of the current performance appraisal system for evaluating individuals within the sales team.

The auditor should have verified the accuracy and the existence of the figures that were appearing in the income statement as revenue. The verification of the sales system should include authorization of the sales and the accounts recording of these sales (Rittenbergm Et al., 2009). An audit on the sale systems involves ensuring that there is proper authorization of the sales orders, proper matching of customers to these orders, payments and the invoices and the records of goods outwards. An audit plan on revenue and sales system should include verification of any sales figure that appears at the end of the financial period as in most cases, there is a possible risk of fraud or wrong adjustment of figures. It would also include an audit on the sales ledger control

Stickley Furniture has a long tradition of manufacturing and selling fine furniture goods. The Consulting Firm has been charged with the responsibility of evaluating and explaining how the company operates and tracks jobs and inventory. Also, the pros and cons of how orders are processed are evaluated. Finally, suggestions are made regarding the way the company should handle forecasting, inventory, work measurement, facility layout, shipping, quality, goals, and recognition. A full change in operations could result in greater customer satisfaction, reduced electricity usage, greater customer satisfaction, faster and less costly delivery of goods sold, less

Conclusion: As such, the MCS should have been initially detailed using this reverse order for consistent presentation as well as acting as a catalyst to the planning subsystem of the core control system. In doing so, goals can be set in accordance to the company culture and structure. This enables management to influence the behaviour of more employees by providing clear goals. This makes for a better feedback system because it includes the information of the various departments/divisions and all levels of employment. This allows for attainable goals and prevents the imposition of unrealistic goals, MBO, and the likelihood of fraudulent reporting. To further prevent fraudulent reporting, the measurement subsystem should rely equally on the accounting system as well as non-financial measures (balanced score card).

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

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.

* Creating the strategy and implementation steps for transforming an operation from inspection-based to one that relies on statistically controlled process.

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.

Organizations large or small all strive to be successful through fostering a culture of great people, great processes, great products, and great results. Typically, three main functions play into an organization, marketing, operations, and financial accountability. Marketing generates the demand through the promotion of goods and services. Operations creates the goods, handles the movement of the goods, and ensures successful final delivery of the goods or service. The financial accountability is how the organization is doing financially concerning accounts receivable and accounts payable. Of the three, operations is arguably the most important to the success of an organization and has many key components that play into this success including operations strategies, supply chain, inventory control, and cost leadership to name a few.

My story, “Space Glue,” will follow a female astronaut, Clarissa Collins, as she embarks on her mission to Venus for carbon dioxide mining, used primarily for the purpose of making glue. 100 years from now, Earth is still a capitalistic place, and once the carbon dioxide converter plants were created to create products such as glue and antifreeze, people went nuts for the new environmentally friendly glue that helped clean the Earth’s atmosphere. The company StuC-02 couldn’t believe their luck, but when Earth’s atmosphere went back to normal carbon dioxide levels and StuC-02 was restricted on how much they could mine, the product started to lose its edge. But space travel had finally started to become accessible to humans, so the marketing

After much thought, and in light of some recent laws being passed in California (SB 277 & SB 792); I would like to propose the following Constitutional Amendment:

When engaged in auditing a public firm, such as Apollo Shoe Inc., an auditor must determine when to trust in the company’s internal controls and when to ascertain auxiliary testing methods are obligatory to analyze control risks. The sales and collection cycle is rather a substantial fraction of the audit because this unique segment employs a multitude of documentation and records ranging anywhere from customer and sales orders, shipping documents, credit memos, and general journal entries; therefore, a working

The most important part of the report was the control process, here I have suggest some control techniques to make the business more effective and developed contingency plans to come out successfully if any unpredicted or incident happen in the internal or external environment.

Interest rates, recession and wars all represent sources of systematic risk because they affect the entire market and cannot be avoided through diversification. Whereas this type of risk affects a broad range of securities, unsystematic risk affects a very specific group of securities or an individual security. Systematic risk can be mitigated only by being hedged.