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Miro Muffet
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Decks in this class (27)
Task 1. Identify Control Weaknesses
Weaknesses,
Internal control system controlss...,
Types of fraud
17
cards
Non Financial Factors
Negative publicity,
Loss of customer trust confidence,
Loss of future sales good employees
3
cards
General / Exam prep
Need to be competent at saying wh...,
Go with the obvious,
Keep asking why so what imagine a...
26
cards
Task 2: Evaluate budgetary reporting and effectiveness in controlling & improving organisational performance
How to get budgetary assumptions ...,
If analysing whether assumptions ...,
Ways to have avoided sales declin...
21
cards
Master List of weaknesses from studies
Unfocused marketingcould be email...
1
cards
Random
Kkb non financial aspects outsour...,
Fraud occurs when someone purpose...,
Not sure whether to bother trying...
8
cards
Cost benefit analysis
Non financial benefits,
Identify the costs of such a deci...,
What is an opportunity cost
3
cards
Non Financial factors list to pick out
Possiblesquite like having
1
cards
Need brief spiel about these
Value analysis engineeringhow it ...,
Lifecycle costing,
How to set and manage a budget to...
6
cards
Task 3: Evaluating systems & procedures
Looking at weanessesin left box i...,
This tests accounting systems and...,
When looking at the problems caus...
12
cards
Task 4: Analysing decision making and control using management accounting tools
Npvlimiting factortarget costing,
Assessing viability eg new locati...,
If doing a npv cashflow what to r...
16
cards
Task 5: Ratios
Osbornewhen asking for decrease i...,
Osborne considers a shorter trade...
2
cards
Task 6
What is a swot,
Identify opportunityreally have t...,
This task may test either control...
3
cards
Task 3: Payroll
A written record such as contract...,
Formal procedures are followed fo...,
Timesheets and clock cards are ap...
33
cards
Task 3: Purchases & Cash payments
Ordering is only allowed from app...,
Blank order forms are kept secure...,
There are recognised authority le...
25
cards
Task 3: Sales & Cash receipts
Important to ensure individuals p...,
5 main sections stages
2
cards
WEAKNESSES EXAMPLES - PURCHASING
Is there a purchase order systemw...,
It systems gaps in control make s...,
Don t forget things that are time...
4
cards
OPPORTUNITIES - PURCHASING
Negotiate prices centrallyuse buy...,
Early payment discounts,
Approved supplier list
3
cards
WEAKNESS EXAMPLES - PAYROLL
Can ho check all the stuff at bra...,
Payroll clerk has full user right...,
Branch managers can add temp staff
6
cards
WEAKNESS EXAMPLES SALES
Sales staff might accept an order...,
Despatch notes need signed by cus...,
Same person raises invoices credi...
8
cards
STRENGTHS - PURCHASING
Payments made by bacs efficient c...,
Good segregation of duties,
Checks on cashflow
4
cards
THREATS EXAMPLES GENERAL
Think about liquidityif not very ...,
Obstacles the business faces in i...,
Competitors launching new and mor...
10
cards
OPPORTUNITIES EXAMPLES GENERAL
The biz should consider how it ca...,
Installing new it systems to inte...,
Improved website to generate futu...
6
cards
STRENGTHS EXAMPLES GENERAL
These are areas in the org where ...,
Good procedures controlling parti...,
The service suppliers receive eg ...
7
cards
WEAKNESSES EXAMPLES GENERAL
These are areas of the organisati...
1
cards
EXAMPLE RECOMMENDATIONS
Produce a written procedure give ...,
Orders should be authorised by 2 ...,
Order books should be locked away...
12
cards
SUSTAINABILITY
In exam remember to consider sust...,
Susainable development is develop...,
3 objectives of sustainable devel...
6
cards
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4.4 Synoptic
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