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What bookkeeping and accounting system have you chosen and why?

August 30, 2022
Accounting homework help
Christopher R. Teeple

LINK FOR THE BOOK (you can also check the questions): https://b123im434-mp02-y-https-library-books24x7-com.proxy.lirn.net/toc.aspx

PLEASE check the ass attached and the book before answering the questions so you know the business I have been working on.

ASS 23- 24- 25

WORKSHEET FOR ASSIGNMENT 23: FINANCIAL CONTROLS

  1. What bookkeeping and accounting system have you chosen and why?
  2. What control information does it produce and with what frequency?
  3. Who will keep the books and produce the accounts?
  4. What will your basic business ratios be if you achieve your financial objectives?
  5. How do those ratios compare with those of either a competitor or your current organization?
  6. What would you consider changing as a result of carrying out your ratio analysis (for example, collect money in faster, carry less stock)?

WORKSHEET FOR ASSIGNMENT 24: SALES AND MARKETING CONTROLS

  1. Describe your records for monitoring sales activities.
  2. Draw up a customer record card for your business, or show your existing one.
  3. What other marketing records do you plan to keep, eg for advertising costs and results?
  4. Explain the relationship between any sales activity and the results expected. For example: ‘We expect to open one new account for every ten we cold-call; or for every 10,000 cold emails sent out.’

WORKSHEET FOR  ASSIGNMENT 25: OTHER BUSINESS CONTROLS

  1. What other business controls do you plan to introduce into your business at the outset?
  2. Why do you consider them important?

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