Discuss advantages disadvantages and internal control issues

Assignment Help Accounting Basics

Reference no: EM131178252

Internal Control

Iris Plant owns and operates three floral shops in Magnolia, Texas. The accounting functions are performed manually. Each of the shops has a manager who oversees the cash receipts and purchasing functions of the shop. A clerk at the central shop pays the bills and also prepares payroll checks and maintains the general journal. Iris is seriously considering switching to a computerized system. With so many information system packages on the market, Iris is overwhelmed.

Required:

Advise Iris as to which business modules you think her organization could find beneficial. Discuss advantages, disadvantages and internal control issues.

Reference no: EM131178252

Questions Cloud

Compute contribution income statement to prove the totals : Acme Medical Supply Company desires a target operating income amount of $100,000, with assumption inputs as follows: Compute the required revenue to achieve the target operating income and compute a contribution income statement to prove the totals.

Price of gasoline doubled : If the price of gasoline doubled, how would consumption of (a) cars, (b) public transportation, and (c) in-theater movies be affected? How quickly would these adjustments be made?

What is the future value of your investment in euros : For this and the next 2. Suppose the following facts apply: Spot currency rate ($/ = $1.28); Forward exchange rate for 1 year delivery = $1.25; US 1-year interest rate: rUS = 4%; Euro 1-year interest rate: rE = 7%; Amount to invest = $5,000,000. You ..

Determine the number of binary digits required to encode : If the Nyquist samples are quantized into L=65,536 levels and then binary coded, determine the number of binary digits required to encode a sample.

Discuss advantages disadvantages and internal control issues : Advise Iris as to which business modules you think her organization could find beneficial. - Discuss advantages, disadvantages and internal control issues.

Calculate the net capital gain : Calculate the net capital gain that Anthony will need to include in his income tax return assuming he undertakes all proposed sales.

Why externalities prevent the attainment of efficiency : Explain why externalities prevent the attainment of efficiency when goods are traded in competitive markets.

Party plan of the republican party of virginia : Does the website contain the legal document governing the party similar to the Party Plan of the Republican Party of Virginia?

Why company elect to process the commodity grade product : A chemical company has a commodity-grade and premium-grade product.- Why might the company elect to process the commodity-grade product further to the premium-grade product?

User Account

All Pages