Unit 10

Emilie

Go back to college in september and doing unit 10. I am having trouble on what to do it on. Does anyone have any suggestions.

Thanks,

Emilie

sdv

Are you doing a work based project or a case study?

Emilie

I am not sure to be honest i do work in accounts do you think it would be easier doing your own or the simulation one provided by aat. When i started the company all the accounting was on excel and i suggested to use sage would this be ok.

katz568

That would be perfect. The simulation is ok but there is that much wrong with it it can be difficult to keep it down to the word limit and keep on focus with what you want to write.
Katrina

Emilie

i am just worried that i wont be able to write 4000 words on it. is it really as hard as they say.

Rinske

Once you picked a subject, used the layout of the report and start writing, usually it's no issue at all getting to the 4000 words.
I had the same worries and ended up cutting out things and dropping them in appendices, because I went over 5000 words in the end.

If you pick a subject at work, it's supposed to be easier. As you can also ask colleagues for their advice/ opinion and with a case study you can't discuss anything other than with your tutor, because others wouldn't know about it.

If you swapped over from excel to sage that would be a very good subject, although if it's too long ago, your tutor/ the AAT migth not agree on it. I think it's a situation of the past 6 months or so.

sdv

Emilie wrote: »

I am not sure to be honest i do work in accounts do you think it would be easier doing your own or the simulation one provided by aat. When i started the company all the accounting was on excel and i suggested to use sage would this be ok.

with the case study, you will have to read the case study at least 6 to 7 times to fully understand the senerio. Every department will have a lots of problems. In fairness you only have to cocerntrate on one accounting department (pchse ledger/ sales ledger/ payroll/ etc) and write your project on that. From that perspective you will not need to do any reseach, because all the problems will be in there.

However, work based project is much easier, becasue you will know your company/accounting department and hopefully you can easily identify weaknesses in your department. The only problem you may encounter is that your BOSS may not like your analysis and you will have to get his/her approval to write about it..

what accounting department are you working in?

sdv

Emilie wrote: »

i am just worried that i wont be able to write 4000 words on it. is it really as hard as they say.

By the time you finish writing your report, you will find it will be over 5000 words and you will then have a problem to condense it

Emilie

I am an accounts assistant. I am the only person that deals with the accounts. The director does not have any idea about accounts really. We have external accounts who do the year end etc. I would therefore ony really have my tutor to talk to. Do you think it would be worth while starting it now or waiting till everything has been approved by my tutor. this is 2 years old wat i am reporting on.

A-Vic

If you look on e-learning there is a really good one for unit ten where you can put your input and then print it off at the end which in a sence could be your report plan.

Id say with everything you have to do the next year try to get this out of the way as soon as possible

sdv

Emilie wrote: »

I am an accounts assistant. I am the only person that deals with the accounts. The director does not have any idea about accounts really. We have external accounts who do the year end etc. I would therefore ony really have my tutor to talk to. Do you think it would be worth while starting it now or waiting till everything has been approved by my tutor. this is 2 years old wat i am reporting on.

If you are the only person in the accounts department, then the accounting accounting systems will be full of problems........... why do you want to look at what you did 2 years a go and then risk the rejections on the work done on your report.

I was in the same position as you. I was inchage of the petty cash, drawings cash from bank, banking all the receipts, issuing sales invoices, ordering good / purchases for the company etc. I was the whole and soul of the company.

Great! There was no so shortages of the problems. (Where I did not find a problem, I invented them and at the same time found the soultions)

the project is in 2 parts

1- people in the accounting department ( you and your boss) - you need to describe your age, your job title, your past work experience, and your qualification.

describe at least 2 work activities that you need to do.

eg - banking, writiting cheques to pay sullpiers, etc.- read your PCs K&U carefully to cover these when writing about your self - cover pc 10.1a, 10.1d, 10.1e

assess you self to see if you are comptent to your job and arrange the necessary training. pc10.1b


think about who does your work when you are on holiday or off sick. draw up a contingeny plan and make sure that the plan remains functional - pc101.c, 10.1f


same as aobe for your boss

you will have to imagine that you have a junior working for you to cover PC10.1G


part one of the project complted.

2 - weakness in the accounting depatment

start by preparing a SWOT analysis

then do a flow chart of the work flow in your accouting department

start by writing a couple of paragraphs on how you your accounting department functions. just write briefly and reference it to the above flow chart; that will be put in the appendix.

in your swot analysis, you will need to identify at least 4 weaknesses.

2 general weaknesses
1 weakness to identify a potential fraud risk
1 weakness on which you can do a cost benefit analysis

strat writing about 2 general weaknesses - describing them and writing about its effect on the company - ie loss of profit/ reputation, loss of assets etc pc10.2a

wrire your recommendations on how to improve your weakness - pc10.2d
justify your recommendation by say what will be it's effect on the company if that recomendation is adopted pc10.2 e

then concenrtrate on the Fraud - need to prepare fraud matrix - I have posted an examples of this on this forum.

and finally on the cost benefit analysis

job done


estimated time - 25 to 30 hours to fully complete the project

jewels.p

A-Vic wrote: »

If you look on e-learning there is a really good one for unit ten where you can put your input and then print it off at the end which in a sence could be your report plan.

Id say with everything you have to do the next year try to get this out of the way as soon as possible

I have still got to start on my Unit 10. I (hopefully) only have two exams left to do in Dec and was gonna do my Unit 10 after that as I didnt think I would have enough time to study for the two exams (hopefully no resits) and do Unit 10 before Christmas. But having looked at whats involved I think I am gonna start it pretty soon.

gregory

Well I have different problem. I have done project itself but need to map it to portofolio and I am quite struggle to do it. Dont know where to kick of from. I know it may sounds strange. My project based on simulation provided by AAT. Any suggestion and help? Please.

sdv

gregory wrote: »

Well I have different problem. I have done project itself but need to map it to portofolio and I am quite struggle to do it. Dont know where to kick of from. I know it may sounds strange. My project based on simulation provided by AAT. Any suggestion and help? Please.

Mapping example can be found [thread=26835]here[/thread]

Mapping document in word can be found [thread=26948]here[/thread]

Londina

we got Sandy for MAC, Steve for DFS and SDV for Unit 10!! your advices are essentials, thanks so much!!

gregory

Thank You very much for help SDV.

emmap2

sdv wrote: »

If you are the only person in the accounts department, then the accounting accounting systems will be full of problems........... why do you want to look at what you did 2 years a go and then risk the rejections on the work done on your report.

I was in the same position as you. I was inchage of the petty cash, drawings cash from bank, banking all the receipts, issuing sales invoices, ordering good / purchases for the company etc. I was the whole and soul of the company.

Great! There was no so shortages of the problems. (Where I did not find a problem, I invented them and at the same time found the soultions)

the project is in 2 parts

1- people in the accounting department ( you and your boss) - you need to describe your age, your job title, your past work experience, and your qualification.

describe at least 2 work activities that you need to do.

eg - banking, writiting cheques to pay sullpiers, etc.- read your PCs K&U carefully to cover these when writing about your self - cover pc 10.1a, 10.1d, 10.1e

assess you self to see if you are comptent to your job and arrange the necessary training. pc10.1b


think about who does your work when you are on holiday or off sick. draw up a contingeny plan and make sure that the plan remains functional - pc101.c, 10.1f


same as aobe for your boss

you will have to imagine that you have a junior working for you to cover PC10.1G


part one of the project complted.

2 - weakness in the accounting depatment

start by preparing a SWOT analysis

then do a flow chart of the work flow in your accouting department

start by writing a couple of paragraphs on how you your accounting department functions. just write briefly and reference it to the above flow chart; that will be put in the appendix.

in your swot analysis, you will need to identify at least 4 weaknesses.

2 general weaknesses
1 weakness to identify a potential fraud risk
1 weakness on which you can do a cost benefit analysis

strat writing about 2 general weaknesses - describing them and writing about its effect on the company - ie loss of profit/ reputation, loss of assets etc pc10.2a

wrire your recommendations on how to improve your weakness - pc10.2d
justify your recommendation by say what will be it's effect on the company if that recomendation is adopted pc10.2 e

then concenrtrate on the Fraud - need to prepare fraud matrix - I have posted an examples of this on this forum.

and finally on the cost benefit analysis

job done


estimated time - 25 to 30 hours to fully complete the project

This is the subject I am doing my project on as I do all accounts for a small business apart from typing and sending out sales invoices and the ordering of stock. I haven't really got a clue where to start, can you suggest what I can put for current weaknesses and how they can be improved? I'm sure once I get started I will be fine.

sdv

emmap2 wrote: »

This is the subject I am doing my project on as I do all accounts for a small business apart from typing and sending out sales invoices and the ordering of stock. I haven't really got a clue where to start, can you suggest what I can put for current weaknesses and how they can be improved? I'm sure once I get started I will be fine.

if you the project in small parts then it is really easy to do

when ever writing a project you should have the Unit 10's PC and K&U document infron of you at all times because you are wring your project to demonstrate that it meets them. Print the mapping dcoument- link just above in this post

first concern trate on PC10.1 - managing people in the accounts department.

task1 draw an organisational chart of your company

task 2 - read KU12 and write about 2 employees covering to whom do they report to and get working instructions

task 3 read KU13 and write about 1 or 2 employees covering who do they communicate with out side the organisation ans why? (sales ledeger clerk - customers, Pchse led, clerk- suppliers, payroll - inland revenue, etc)

task 4 read Ku14 and write about 2 employees who communicate with each other and why? sales ledger with purchase ledger - one person both customer and supplier to our company, payroll needs absent returns from all other departments, accountand need to communicate with the directors to report on the finacial performance and take instructions for the change in the control/decision process etc.


task 5 - prepare - emmployee's analysis table for all the employees in the accounting departments

column heading

name
age
accounting function incharge of
qualifications
past work experience
current work activities
Training requirements
Cover - can possible cover other departments, based on experience and qualiications

first 5 tasks are more then enough to get on with

emmap2

sdv wrote: »

if you the project in small parts then it is really easy to do

when ever writing a project you should have the Unit 10's PC and K&U document infron of you at all times because you are wring your project to demonstrate that it meets them. Print the mapping dcoument- link just above in this post

first concern trate on PC10.1 - managing people in the accounts department.

task1 draw an organisational chart of your company

task 2 - read KU12 and write about 2 employees covering to whom do they report to and get working instructions

task 3 read KU13 and write about 1 or 2 employees covering who do they communicate with out side the organisation ans why? (sales ledeger clerk - customers, Pchse led, clerk- suppliers, payroll - inland revenue, etc)

task 4 read Ku14 and write about 2 employees who communicate with each other and why? sales ledger with purchase ledger - one person both customer and supplier to our company, payroll needs absent returns from all other departments, accountand need to communicate with the directors to report on the finacial performance and take instructions for the change in the control/decision process etc.


task 5 - prepare - emmployee's analysis table for all the employees in the accounting departments

column heading

name
age
accounting function incharge of
qualifications
past work experience
current work activities
Training requirements
Cover - can possible cover other departments, based on experience and qualiications

first 5 tasks are more then enough to get on with

Thanks so much for your advice sdv, it will really help, I am making a start on project tonight, can you please suggest what my title should be?

sdv

emmap2 wrote: »

Thanks so much for your advice sdv, it will really help, I am making a start on project tonight, can you please suggest what my title should be?

As you do the project, your work will inspire you the title for your project.

But I could make a suggestion. "Putting controls in the accounting function"

The reason for that is; you are doing all the work in all the accounting functions. there is no double check to see that the purchase invoices received are authorised to be paid. There is no check against purchase order ( nor purchase oders issued) or the delivery note. You could easily issue a cheque to a colluded supplier.

Although you do not post the sales invoices, you could be preparing the sales invoices, post them on the sales ledeger and post the receipts from the debtors.

in collustion with the debtor, you could issue invoice for a lesser value then it's true value. You could easily issue a credit note and cancel the original debt. or you could not remind your boss to chase the debt and thus giving a londer credit term to the customer.

why could all these happen? Because there is no segregration of duties.

problems in pety cash. payment of petty cash with out proper authorisation or even without proper receipts. Flase petty cash recipts can be processed and petty cash claimed.

Order goods / stationery for personal use and git it invoiced to the company. who would be the wiser? you are the only one to open post / and pay the invoices.

payroll - create a fiticious employee and pay wages to your self...............


Problems, poblems, problem.............................

solutions!

Contol, Control, Control, (put check controls in place)

I am sure there will be many examples of the lack of control situations that you will be abl to think of from your work experiences

snowmarauder

sdv wrote: »

If you are the only person in the accounts department, then the.....

Thanks for this, really made my day, i will be hard at it tomorrow, as waiting for my start date on new job xx