- How many branches are there?
1 2 3 4 5 other
Please specify
- As an Accountant what is your role in the firm?
Role is to check, summarise, present, analyse, and interpret the accounts for the owners
To obtain information about costs (e.g. the cost for labour, materials, and overheads) and interprets it and prepares reports for the director.
- Briefly state your responsibility in the organisation?
He is concerned with the financial decision making with the directors, planning and control of the businesses finance.
Current Method:
- Describe briefly in the current system being applied?
Paper based accounting systems. Using a Double-entry book-keeping system in a manual accounting system
-
Do you any software? Yes No
If Yes please specify
- Name some of the transactions and documents used
Transaction Documents
1. Sales 1. Cash Book
2. Debit Purchases 2. Ledgers
3. Small expenses 3. Petty Cash Book
- How do you record the transaction?
- Records financial transaction and document
- Summarises of transactions and document
- Entering them into accounts kept in ledgers
- Using the processed data to produce financial reports (e.g. Balance Sheet)
- How many employees do you employ
15 or below
25 or below
35 or below
other… please specify ………………………….
- Figures are extracted from the accounts, so what is in the financial statement that needs to be created?
Trading and Profit and Loss Account
Balance Sheet
- What are the current problems with the existing method being used? If any
- Time consuming
- More chance of an error occurring
- Errors might not get picked up so more effort is required
Form of data:
- Where does the source and type of data come from?
Financial transactions (e.g. overheads, sales etc…) that occur in that year of the running of the business
- Is the data processed:
Internally (within the firm)
Externally (outside the firm)
- Is the data being stored:
Internally (within the firm)
Externally (outside the firm)
Additional Questions:
-
In which way do you think that the current method can be improved; if not what other system could you apply?
- Sage 50
- Excel Accounting System
- Access Accounting Database
-
Is there any legislation that you have to comply with? Yes No
If yes please specify
- Accounting Commission
- Company House
- FRS
- Inland Revenue
- HM Customs
