Communication Activity BYP8-5 Assignment Example | Topics and Well Written Essays - 250 words

Communication Activity BYP8-5 - Assignment Example Cash is considered the most liquid current asset. Cash is needed to pay off the short term and long term obligations of a company. Upon review of your internal control system to handle cash our firm found several deficiencies. The person that deposits the checks has properly endorsed checks that are ready for the deposit, but the person does not know the accuracy of his check deposit because he does not have a list of the checks. Adding a list of checks would provide a way to verify if the checks that are supposed to be deposited are there. The person that is handling this transaction is the wrong person. Currently your company is allowing the cashier and the account receivable clerk to handle this transaction. This is a risky move because since these employees are dealing with cash and receivable they could collude against the company and create a fraud scheme to steal money from the firm. Since they are handling all aspects of the cash dealing it would be easy for them to steal wit hout anyone noticing. To fix the problem these employees should no longer handle the check deposits. The weekly deposit routine can be improved by switching to a daily deposit routine. Regards, John May, Auditor Tel. (856-932-1412)

BOOKKEEPING SERVICES Small Business Plan Assignment

BOOKKEEPING SERVICES Small Business Plan - Assignment Example The small businesses usually appoint accounting firms for maintaining financial transactions of their business operations effectively and in a cost effective manner. Table of Contents Executive Summary 2 History 4 Description of the Business (Bookkeeping Services) 4 Definition of the Market 5 Description of Product or Services 6 Management Structure 7 Objectives and Goals 7 Financial Data 8 References 9 History ‘Accuracy’ is a small and one-person owned business which operates under a ‘Certified Public Accountant’ (CPA) in Los Angeles, United States of America (U.S.A). The firm usually offers tax accounting as well as management accounting services for small business firms. The firm in its initial stage of the commencement of its business generally rendered tax services to small business firms. Later on, the business offered management and cost accounting services as well. Additionally, the business also started offering QuickBook services on acquiring Quick Books Pro Advisor certification. These are the various services which are offered by the firm to small business firms. ... The CPA has planned to expand the business operations of the firm dealing with its bookkeeping services for small businesses. In this regard, investment is required to be made in marketing and staffing process in order to develop the bookkeeping business in an appropriate manner. The business plan has been formulated with the intention of identifying and implementing appropriate strategies required for the expansion of the firm’s business. Description of the Business (Bookkeeping Services) The expanded business of the firm will offer bookkeeping services for small businesses. Bookkeeping is an approach of recording financial transactions of business operations on a daily basis. Small businesses with bookkeeping services will be able to maintain their daily business transactions in an accurate, comprehensive as well as up-to- date fashion (E-conomic UK, 2013). In this respect, bookkeeping services that will be offered by the firm to its clientele will ensure that their financia l transactions are managed accurately and in the most efficient manner. The firm will offer bookkeeping services to small businesses under the supervision of the CPA. The bookkeeping services will be offered at an affordable rate to its clientele. Employees or staff will be hired which will entail undergraduate students to act as bookkeeper. Additionally, a graduate student will be appointed who will be entrusted with the task of managing the activities or operations of the bookkeeping segments. Definition of the Market The firm operates in the market segments of the US where there is a huge demand for bookkeeping service providers as large number of small businesses are significantly involved in appointing accounting and bookkeeping firms with the objective of saving time as