Cookridge Carpets
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- Date Submitted: 01/08/2015 04:37 AM
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A REVIEW OF THE INTERNAL CONTROLS AND ACCOUNTING SYSTEMS OF COOKRIDGE CARPETS
STUDENT NAME:
AAT MEMBERSHIP NUMBER:
DATE:
LIST OF CONTENTS
1. Terms of reference
2. Methodology
3. Executive Summary
4. Introduction
5. Analysis and evaluation of the current system
6. Recommendations
7. Cost Benefit Analysis
8. Appendices
APPENDICES
Company Structure
1. TERMS OF REFERENCE
1.1 This report has been prepared to cover the assessment requirements of AAT learning area ‘Internal Control and Accounting Systems’. The assessment is in two parts:
• Evaluating Accounting Systems
• Principals of Internal Control
1.2 The report is based upon a case study provided by the AAT using the company Cookridge carpets. The objectives of the report are as follows:
• Review the accounting systems of Cookridge Carpets and the efficiency of the internal controls
• Identify weaknesses within the accounting system
• Make recommendations for improvements
• Prepare a cost benefit analysis based on the recommendations made
2. METHODOLOGY
2.1 I have reviewed all of the information that has been provided for the organisation Cookridge Carpets, namely the overview of the accounting system and extracts taken from the diary of events from the previous six months. After carefully analysing the above information it became apparent that there are a significant amount of weaknesses with the accounting systems at Cookridge Carpets and for some areas very few internal controls are in place.
2.2 I have decided to highlight several weaknesses that have been found and to make recommendations to improve these weaknesses and strengthen the internal controls so as to eliminate the potential for fraud and provide a more efficient accounting system.
2.3 Once the report has been completed it will be...
STUDENT NAME:
AAT MEMBERSHIP NUMBER:
DATE:
LIST OF CONTENTS
1. Terms of reference
2. Methodology
3. Executive Summary
4. Introduction
5. Analysis and evaluation of the current system
6. Recommendations
7. Cost Benefit Analysis
8. Appendices
APPENDICES
Company Structure
1. TERMS OF REFERENCE
1.1 This report has been prepared to cover the assessment requirements of AAT learning area ‘Internal Control and Accounting Systems’. The assessment is in two parts:
• Evaluating Accounting Systems
• Principals of Internal Control
1.2 The report is based upon a case study provided by the AAT using the company Cookridge carpets. The objectives of the report are as follows:
• Review the accounting systems of Cookridge Carpets and the efficiency of the internal controls
• Identify weaknesses within the accounting system
• Make recommendations for improvements
• Prepare a cost benefit analysis based on the recommendations made
2. METHODOLOGY
2.1 I have reviewed all of the information that has been provided for the organisation Cookridge Carpets, namely the overview of the accounting system and extracts taken from the diary of events from the previous six months. After carefully analysing the above information it became apparent that there are a significant amount of weaknesses with the accounting systems at Cookridge Carpets and for some areas very few internal controls are in place.
2.2 I have decided to highlight several weaknesses that have been found and to make recommendations to improve these weaknesses and strengthen the internal controls so as to eliminate the potential for fraud and provide a more efficient accounting system.
2.3 Once the report has been completed it will be...