This website uses cookies to ensure you have the best experience. Learn more

Setting Up Controls In A Manufacturing Business

716 words - 3 pages

MR Etherington, you have approached me to help you review the way in which the manufacturing business is controlled which you have recently purchased as it has been experiencing financial problems due to lack of controls. Therefore, I will help you explain how you should set up good accounting controls in order to avoid future financial problems. I will also explain how to implement an effective control environment by taking into account of things to consider before establishing one, as well as discussing and providing advice on the functions, controls and threats in regards to the expenditure cycle. At the end of my discussion you will know why having controls is an important business objective, and know how to tackle threats that can arise in three activities of the expenditure cycle.

A control environment is defined whereby ‘competent people understand their responsibilities, the limits of their authority, and are knowledgeable, mindful and committed to doing what is right and doing it the right way’ (UCLA. N.d). Therefore, MR Etherington, in relation to your company, all your employees must understand what is expected from them and have a good understanding of their own position to enhance their performance. With that being said, for employees to understand this, you need to make sure that your management team establishes an effective control environment and take into considerations of the things necessary when trying to establish one.

By far and more importantly, a management philosophy in the business will have to established (Romney and Steinbart, 2012), meaning that a set philosophy and an appropriate operating culture is to be in place, which is in line with the company’s strategy. This will enable your employees to clearly understand what is required from them. I advise that it would be best if you create an effective and efficient operating culture as it will positively encourage your employees to work together towards the overall objective of the business. You should make sure that your philosophies are communicated clearly to your employees without any delay as you want to ensure that they are working towards the overall business...

Find Another Essay On Setting Up Controls in a Manufacturing Business

Setting Up a Curfew Law for Teens

872 words - 4 pages teen crime happens between 11:00pm and 3:00am. Setting up a curfew that takes place during those times or even later on in the night will keep children off the streets where bad things can take place. Drug deals and robbery mostly take place during the night because it is easier to hide from the police. It has been proven that if curfew laws are enforced constantly it will reduce juvenile crimes. (Bodenhamer) I strongly believe that if there is a

Process Essay on Setting Up A Guitar

1202 words - 5 pages although there are some areas of setting up a guitar which can cause one to break out in hives, sweat, and otherwise go insane(the nut jobs). The self-service setup is a lot more fun and less expensive(you save $50) than letting a professional do it. Every guitarist should learn how to setup his or her own guitar. Let it be said though, that you should never practice your first setup on a really expensive guitar. With the right tools, determination, and patience, anything can be fixed on a guitar(or damaged until a pro might want to look at it).

Setting up a private practice for Counseling

5542 words - 22 pages Assignment 1.Discuss the planning and setting up of a practice for counselling.1.1. THE PLANNING FUNCTIONThe Planning function is the starting point and the laying of the practice foundations when setting up your own practice. Planning is the aspect of general management in which we determine in advance what we want to achieve, and how to achieve it. Objectives must be drawn up and a systematic plan formulated. Planning must be realistic and

Selling Technology Breakdown Setting Up Your Own Business

5377 words - 22 pages business.Now returning to Ireland to settle, Thomas is setting up his own business Renaissance Cyber Café. Renaissance is situated in the prime location of Selskar St. Wexford, which is fast becoming Wexford town's central shopping area.Renaissance offers its customers a wide range of computer services. It provides Internet access, Email accounts, Web page design and maintenance, printing and scanning facilities. Renaissance also offers an

Set up a business coursework

1770 words - 7 pages Task 1The idea of this coursework is to imagine that we are setting up a new business in the local area. I have decided that I am going to start a music shop that will sell a wide variety of instruments but will specialise in guitars. It will be located in an Woking because it is not in direct competition with a similar shop, but is a sensible location that is visited by lots of people. In Woking, I could place my shop near other facilities in

Full-time Freelancing: Setting Up a Professional Home Office

659 words - 3 pages Being a professional freelancer is not as easy as it may sound. You need a lot of self-discipline to be able to pull off becoming a reliable and successful worker. How and where you work, however, can help you with that -- especially in becoming more efficient and productive. This is why, efficiently setting up your own home office is an essential aspect of having a home-based business. But what exactly are the things you should do and how

The Process of Setting Up a GSM Network

3437 words - 14 pages business strategy which attributed to GSM services oriented, there are many things which need to consider and play a very significant role. These important components are discussed in this document in order to support efficient business strategy. Strategic Business Assessment The main and the most important task is the research work which is responsible for handling every kind of risk and conditions which are unexpected can be the research work

Kaizen: a Philosophy that Focuses upon Continuous Improvement of Processes in Manufacturing, Engineering, and Business Management

758 words - 4 pages . Generally, Kaizen is a philosophy that focuses upon continuous improvement of processes in manufacturing, engineering, and business management. It helps to improve and standardize activities, and eliminate waste. If one has a clearly defined problem (1) and its causes (2), one can state the clear goal (3), which is essential when dealing with a project. Only having the aim makes it possible to see if everything is going in the right direction

CBT in a school setting

2411 words - 10 pages session and identified any challenges. The pilot of CBT in a school setting consisted of a six week pre/post group measure and a 6 week follow-up measure, to see if group interventions in school decrease depressive conditions, while improving peer interactions and school commitments (Fischer & Ruffolo, 2009). The fifth step: Addressing issues of sustainability or continuous quality improvement of the evidence-based intervention; nevertheless

Reading in a Classroom Setting

1612 words - 6 pages the education levels of their parents,” and that if a child’s mother read for her own enjoyment everyday then the odds of that child being rated below average in reading was reduced by 85%. (Hartas, 2012) Teachers can help their pupils develop readings skills by setting a side a time each day to read to them and by setting up a classroom library. (Neuman, 2001) Through setting up a classroom library the teacher acts as facilitators by supplying

Marketing & Strategy of A start-up Business

2884 words - 12 pages Executive Summary This business proposal discussed whether opening a snack bar based on campus will be a success or not. The female students were identified as target group at first after a series of market research. An in depth SWOT provides a general analysis of major internal and external factors for the business to succeed in the long run; Key external factors include seasonal sales, rivalry competitions, social trends; The main internal

Similar Essays

Setting Up A Mc Donald's In Chad

2505 words - 10 pages consideration and some of the factors I would consider when setting up a McDonald's business in Chad, Africa would be, the location of the restaurant, transportation links, the workforce, my target market, the competition, promotion, when to open the restaurant, and the risk that come with opening up a restaurant in a third world country. The location of the restaurant would definitely determine the success or failure of business. When looking for a

Setting A Logistics Company Up In Romania And Bulgaria

1165 words - 5 pages can provide us, then, how we can enter this market, and finally, determine risks and uncertainties we could be confronted with.But before that, let us have a look at the context. We must understand and analyse this before setting up our activity.History and context.Before both applied to integrate the European Union in 1995, Romania and Bulgaria were almost in the same political and economical environment. (, they began

Setting Up A Fish Tank Essay

1524 words - 6 pages changes within the tank. Fish require constant care and a watchful eye of the water conditions in the tank. If the water conditions in the tank are not set up properly, or if there is a spike or sudden change in the water conditions it could cause the fish to become sick or even kill the fish. Tank set up might seem like a simple process of just filling the tank with water, but if the water is not treated properly it can be toxic to the fish and

Setting Up Telecommunications In Brazil Essay

8091 words - 32 pages the potential to develop into significant economic contributors.28 Venture capital is an important source of equity for many start-up companies. Companies such as e-Bay, Google and Jet Blue are a few recent examples.Venture capital firms are willing to take on such risk in such companies, which offer the possibility of exponential growth. Investors participate directly in risks and leverage of the business, also adding value through administrative