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  • Daniel Thomas Business Structure

    National Standard for Workplace Injury and Disease Recording (Australian Business License and Information Service, n.d.). To guarantee that he is acting rightfully, Daniel should have all the licenses and confirm that he is acting based on those code of practices. Another important requirement is related to the business records. The Australian Taxation Office (ATO) requires by law, to keep certain business record for a minimum of five years after they are prepared, obtained or the transactions completed, whichever occurs latest. This transactions must be kept even if your sell, close or retire from your business. Some of the records that have to be kept are: Related to income tax: sales record (sales invoice, tax invoice, receipts), expense records (expenses invoice, tax invoice, expenses receipt, which include an ABN) and year-end income tax records (motor vehicle expenses, debtors and creditors lists, stocktake sheets, depreciation schedules, capital gains tax records). Related to payments to employees: tax file number declaration, worker payment records, PAYG payment summaries, superannuation records, and FBT details. (Small business development corporation, 2014). All those business transactions can be record in a cash book either manually or electronically. Currently, Daniel is keeping the transactions recorded into a spreadsheet, in the future it would be better to Daniel to move to a simply software accounting package, since there is a couple of advantages in this…

    Words: 909 - Pages: 4
  • Billing Scheme Fraud Case Study

    Mel Wayne Campbell, were in deep financial trouble. They had taken out two hug home equity lines of credit and were deep in debt. She was frustrated with her job and needed a way to get money fast. Part of her job was to process the invoices for U.S. Customs. And that is where she saw her opportunity. The Fraud: Her and her husband decided to implicate a billing scheme fraud. A billing scheme fraud can be easier to commit because it does not require any access to cash. In this type of fraud the…

    Words: 1155 - Pages: 5
  • Disadvantages Of Peachtree Accounting

    it also saves your client list, a complete transaction history and employee management files. Peachtree Accounting is the bread and butter of Sage Software's business plan. As such, the company is constantly working to improve the program with better technology. For example, with the 2010 release, Peachtree included a brand new database framework that makes it easier for companies to use the program in multi-user environments and makes the program more stable than its predecessors. Peachtree…

    Words: 3448 - Pages: 14
  • Tip Top Invoicing Sheet

    be printed. The invoices will be keyed in under Tip Top company name. The invoices will be created under A/R customers’ module. The customer code will be taken from the invoicing sheets and will be used to find the correct customer. New Tip Top customers will need to be setup in QuickBooks. I will enter customer’s name, phone number, email address, company address and credit terms that will be taken from the invoicing sheet. Some invoicing sheets will need to be scanned and emailed to Tammy for…

    Words: 1166 - Pages: 5
  • Old Main Manufacturing Memo

    that outlines the steps that I have taken to complete the audit successfully. As a part of the program, I traced the cash receipts journal to the sales journal in order to determine the completeness and accuracy of the credit to accounts receivable and recording of the sales discount. I was able to determine that three of 63 sample invoices of OMM required further review. After reviewing the invoices, I verified that the customers paid the amount of the invoice minus the discount taken within…

    Words: 511 - Pages: 3
  • Coach Inc.: Fraud Case Study

    a purchase inventory orders; an employee could be creating bogus invoices in order to request payment from Coach and keeping the money for personal use. (3) Theft and financial fraud; an employee in charge of accounts receivables could be embezzling money by posting a customer’s payment on another customer’s account and keeping the money instead of posting it to the accounts receivable account or a manger might be understating inventory balances on financial statements. Extended procedures to…

    Words: 770 - Pages: 4
  • Veterans Benefits Administration Case Study

    WINRS; as well as, locating invoice numbers and payments already completed on inquiries from facility/counselors. • Submit Vendor forms to the Financial Management Service (FMS), for approving small business through VA Finance Service Center (FSC) in Austin. • Conducting specific annual internal audit/quality control reviews (Financial Management, MP4, and part 11, Ch. 4) as required and assigned in accordance with the Veterans Benefits Administration (VBA) Financial Quality assurance reviews,…

    Words: 1269 - Pages: 6
  • Daily Logistics Flow Assignment

    confirm the stock available Delivery from Terminal to Factory Internal Transfer between warehouse to warehouse & arrange the combine cargoes Logistics Department arrange the loading plan & customs clearance Head office received the client’s orders & create the Proforma Invoices, to inform production teams Head office to confirm to release shipment and prepare the invoice & packing list to clients Contact the Forwarder to arrange shipment & loading schedules Forwarder to…

    Words: 2191 - Pages: 9
  • Office Products Depot Case Study

    However, more invoices will be sent if the customer is not paying or if they claim that they didn’t receive the original invoice. These invoices are sent out electronically to each customer, as it makes it easier to manage transactions rather than doing it manually. Office Products Depot can only hope that the customer will pay, they cannot physically force the customer to pay, as it will result in a loss of business. This keeps the customer happy with the business as they are not being pestered…

    Words: 1284 - Pages: 6
  • Compare And Contrast The 5 Strategies Of Business Communication

    years, I can highly recommend her for the new role that has been made vacant my the departure of Maureen for greener pasture. In addition to Jenny having such high qualifications, she is also known for her dedication, honesty, compassion, positive, caring attitude and kindness. She will always go the extra mile for her clients and for the good of this business’ reputation. Expectation - Norms and anticipated outcomes - For example, our company is expected to provide the best product to meet…

    Words: 704 - Pages: 3
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