Business Structure Assignment
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Added on 2020-05-28
Business Structure Assignment
Added on 2020-05-28
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Running head: BUCKS PHYZ BUSINESS REPORTBucks Phyz business reportName of the studentName of the UniversityAuthor note
1BUCKS PHYZ BUSINESS REPORTExecutive summary:This report has analyzed the Bucks Phyz from an accountant’s perspective and it has traced outvarious flaws in the internal structure of the firm. Using the interviews of the employees of theBucks Phyz, the report has mentioned various issues of the firm. The report has found that thefirm has lack of internal control and proper code of conduct that lead the employees to fraudactivities. The report has also found that the new system of pricing of the firm is highlycomplicated for the employees due to lack of proper training. One of the main concerns of thereport was to trace the impact of corporate credit card for the Bucks Phyz. The report has found,though it will enhance the profitability firm, however it will enhance the scope of fraud amongthe employees. To conclude the report has provided some recommendations for the firm andtraced out how it can enhance its performance.
2BUCKS PHYZ BUSINESS REPORTTable of ContentsIntroduction:....................................................................................................................................3Summarised overview of Bucks Phyz sales process:......................................................................3Internal control weakness of Bucks Phyz:.......................................................................................4Impact of weakness on the organisation:.........................................................................................9Impact of introducing corporate credit cards in Bucks Phyz:..........................................................9Internal controls to minimize the impact of corporate credit card:.................................................9Recommendation:..........................................................................................................................10Conclusion:....................................................................................................................................10Reference:......................................................................................................................................11
3BUCKS PHYZ BUSINESS REPORTIntroduction:Bucks Phyz is one of a medium sized organisation that possess annual turnover of $2.5million. The question, which has been asked in this question, is to represent a business report ofthe Bucks Phyz reviewing the sales process of organisation. The report has reviewed thecompany profile closely and while doing so, it has been found that the firm has gone throughmajor reform in the operating environment. The study of the Bucks Phyz’s internal organisation,it has found that account department of the firm has been facing fraudulent behaviour and if thetrend continues, then firm will not be able to earn higher profit (Johnson, 2016). Thus, themanager of the firm has been asked to his newly employed accountant to check revenue leakageand analyze what can be done in order to control the situation. Besides this, the new accountantis also asked to perform risk analysis of introducing corporate credit card for the Bucks Phyz.This report is meant to provide the internal control analysis of Bucks Phyz and study thefeasibility of introduction of corporate credit card for the firm. Summarised overview of Bucks Phyz sales process:Bucks Phyz is one of a middle-sized firm in the Australia that has recently gone throughan organisation restructure in order to meet the market standards and overcome the issues offraud in firm’s activity. Bucks Phyz follows the new pricing tool of the business process that cancalculate offer prices accurately, which are introduced by the managers of the firms to attractmore customers (Marinesi, Girotra & Netessine, 2017). However, the business has faced issueswith the authorization policy, which is not aligned with manager’s policy making it ineffective.Barry, who is head of sales of the Bucks Phyz argues that due to lack of proper mapping of theintroduction of the new pricing tool in the organisation, existence of standardized process and theparticular process has meshed with each other. Besides this, standardized offer template of the
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