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Case Study on Risk of Losing Money in Business

   

Added on  2020-05-08

5 Pages919 Words113 Views
Running Head- Problem solving activities 1Name of the student- Topic: Problem solving activities University Name-
Case Study on Risk of Losing Money in Business_1
Problem solving 2This report reflects the case study analysis and how Sarah could minimize the risk oflosing money in her business. This case has shown the problem of management of inflow andoutflow of cash and fear of losing money due to non-effective recording of cash inflow andoutflow. However, in order to mitigate these problems, Sarah could use cyber computingenterprises resources planning in its business. This will increase the transparency of businessreporting frameworks.Identification of problems Sarah has problem in recording of right amount of cash inflow and outflow of business.She has also observed that despite of no decline of sales, cash inflow in business has gone due byvery drastic amount. The business of Sarah is accompanied by the various internal and externalrecording of cash in business. This is very basic problem which each and every business faces.However, in order to mitigate these issues, Sarah needs to change business staff or should makeproper surveillance on its cash recording transactions. Ideally, hiring accountant or matchingcash book with the financial statement of company could show case all the discrepancies inrecording of business financial transactions. In addition to this, double entry system will mitigatepossible problem of management of business transactions in determined approach (He, Zha & Li,(2013).Analysis the problem The main problem which Sarah has faced in its business is related to recording of cash ofin its business. However, after analyzing the case, it is observed that decline in the overall cashinflow may be arise due to the change in the operational activities or increased investment in
Case Study on Risk of Losing Money in Business_2

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