What suggestions would you make to improve internal control

Reference no: EM131893024

Problem

At Jungle Industries, all sales are on account. Domenic Marconi is responsible for mailing invoices to customers, recording the amount billed, opening mail, recording the payment, and making deposits to the bank. Domenic is very devoted to the family business and never takes off more than one or two days for a long weekend. The customers know Domenic and sometimes send personal notes with their payments. Another clerk handles all aspects of accounts payable. Domenic's brother, who is president of Jungle Industries, has hired an accountant to help with expansion.

REQUIRED:

1. List some problems with the current accounts receivable system.
2. What suggestions would you make to improve internal control?
3. How would you explain to Sienna that she personally is not the problem?

Reference no: EM131893024

Questions Cloud

How can GDD create a competitive advantage : Understanding what competitive advantage means to a company's bottom line is important in leading the vision. Competitive advantage means separating.

Determine the optimal production policy : A textile manufacturer for in optimally determining a production policy for the cutting operation in men's product line. The production manager would like.

Write an essay on homelessness : Essay - Homelessness. Homelessness is one of the top issues in Seattle. It is a growing crisis that the city is trying to address

Discuss the pros and cons of the strategy : What are some things IKEA is doing well to reach customers in different markets? What else could it be doing? Discuss the pros and cons of this strategy?

What suggestions would you make to improve internal control : List some problems with the current accounts receivable system. What suggestions would you make to improve internal control?

What was undesirable about the jobs : Think of jobs you or someone you know has had. What was undesirable about these jobs? Was the pay too low? Hours too long? Were you treated poorly?

Explain the problem-based ideation approach : Think about a product that you have used in the past and did not really like the product. List five (5) things about the product as why you didn't like.

Discuss the brainstorm issues in brief : Think of a recent change that occurred at your college, in your community, or in the news. Use the three-sphere model for systems management and brainstorm.

Degrees at maximum distance from the planet : What is the moon's angular size in degrees at maximum distance from the planet?

User Account

All Pages