ICAS help Inkwell Limited PLEASE!!

kelbel8888kelbel8888 New MemberPosts: 9Registered
Hi

Wondering if anyone can help me with the ICAS project please. Iv hit a brick wall. Im doing the Inkwell Limited case study. Iv picked areas that i want to do, being payroll and sales ledger. Iv written the organisation background, and done a SWOT on the company.

Im not sure what now though, i know what i want to reccomend, but its the analysis and evaluate section im stuck on. What does this mean evaluate on the whole accounting system? or company? or just on my sections that im doing?

Also iv done the SWOT on the whole company as general, is this wrong am i only supposed to do it on my sections so i can include this?

Im just wasting hours staring at the laptop not writing anything! I was hoping to complete my draft over xmas period ready to be handed in as it clashes with other exmas im doing.

Someone please help! :001_unsure:

Thanks in advance

Comments

  • Clintm15Clintm15 Well-Known FarehamPosts: 247Registered
    I really wish I could help you but I'm still stuck completing my plan. I'm not even sure which accountancy function to evaluate and I haven't even attempted SWOT yet.

    So cheer up mate, things could be worse...... You could be me. ;)
    AAT
    Level 2 - 2011
    Level 3 - 2012
    Level 4 - 2013

    ACCA
    F4 - Corporate Law - Dec 2015 (passed)
    F5 - Performance Management - Dec 2014 (passed)
    F6 - Taxation - Dec 2013 (passed)
    F7 - Financial Reporting - Jun 2014 (passed)
    F8 - Audit & Assurance - Dec 2015 (passed)
    F9 - Financial Management - Jun 2015 (passed)
  • janwaljanwal Experienced Mentor Posts: 1,189Registered
    I'm glad others are struggling, I have had the project 3 months now, 1st draft due 18th Feb and apart from a quick organisational chart ............nothing, completely baffled.

    So you are both ok and really wouldn't want to be me...................:confused1:
  • WhirlwindWhirlwind Well-Known Posts: 249Registered
    Hi,

    There is light at the end of the tunnel, but I definitely found this unit the most time consuming as there was so much research. Then there was the 'business language', would take me quite a while (each time a wrote a section) just to get into that frame of mind.

    I studied with BPP and they gave us a pretty good work book to go through, with fortnightly sections to complete for the tutor to mark. They started us on the section that describes the company, then the department, then the particular section the report is on. I did find starting with the SWOT analysis was great as it gave me a list of where they needed help.

    Keep up the good works guys - I am living proof that it can be done!!
  • beckylnbeckyln Feels At Home Posts: 52Registered
    Hi,

    I have the book that is mentioned above.

    On the analysis section it describes it as:

    "This is where the main body of your report starts. It is an analysis and evaluation of the current systems, not a description"

    It needs to identify the strengths and weaknesses of the accounting system in question, and the impact of these on the organisation,

    Hope this helps!
  • chufferchuffer New Member Posts: 8Registered
    Inkwell!

    Lol!!!
    At least you are getting somewhere.......I'm still confused with the mapping document and there seems to be conflicting ideas about the whole thing.

    I know there isn't I'm looking at it wrong I am sure.... having never had to write a company report before I seem to be hung up with the layout etc before I even start thinking about the content.

    AAAARRRGGHHHH :lol:

    Clive
  • WhirlwindWhirlwind Well-Known Posts: 249Registered
    Hey Clive,

    I know what you mean!! I hadn't read this type of report so found it such a nightmare of a unit, as there I was trying to write one!!

    We left the mapping until last ... why are you having to do it earlier?!
  • benhop85benhop85 Just Joined Posts: 1Registered
    Just wondering how people have dealt with the the statement below from the Inkwell Case study.

    "The Principal Financial accounting system comprises an intergrated General Accounts Payable (Purchase) and Account Receivable (Sales) Set of Ledgers."

    Is it like a Sage accounting package or is it 3 differnt pieces of software.
  • chufferchuffer New Member Posts: 8Registered
    Whirlwind wrote: »
    Hey Clive,

    I know what you mean!! I hadn't read this type of report so found it such a nightmare of a unit, as there I was trying to write one!!

    We left the mapping until last ... why are you having to do it earlier?!


    Hi Whirlwind,
    It was suggested that we use the mapping document as a guide to make sure that all the arrears needed to be covered were!..... now beginning to think that I will just write what I think and then try and match it....:confused1::confused1::confused1::confused1:
  • WhirlwindWhirlwind Well-Known Posts: 249Registered
    Thats a hard one - I studied with BPP and they got us to do the body of the report first (Intro to Co, The Accounts Dept, The 'specific part of dept focusing on,).

    Realistically you need to follow your tutors guidance as they do the marking.
  • guinea pigguinea pig Trusted Regular Posts: 402Registered
    benhop85 wrote: »
    Just wondering how people have dealt with the the statement below from the Inkwell Case study.

    "The Principal Financial accounting system comprises an intergrated General Accounts Payable (Purchase) and Account Receivable (Sales) Set of Ledgers."

    Is it like a Sage accounting package or is it 3 differnt pieces of software.

    Hi benhop,
    I think the clue is in the word INTEGRATED. I am not experienced with Sage, so I would suggest that you could look at the Sage website to understand more about how their systems work. At work I use a specialised accounting system whereby all the various ledgers, cash book, procurement etc are all integrated. I work in education - we have a different system for the students database, and this uploads into the finance system and vice versa. I guess that in some situations, access to confidential information should be limited e.g payroll, and a different system could be used, that links to the main finance system where necessary, or access may only be given to certain workgroups of users.
    GP
  • kelbel8888kelbel8888 New Member Posts: 9Registered
    There REALLY IS light at the end of the tunnel!

    Hi
    Sorry havnt replied to anyone on here, or thanked anyone in fact...so thanks!

    I spent the first days desperate for a reply,and when one didnt come, i never checked again!

    But with over 1,000 views on the thread i thought it might be worth replying with how i tackled the ICAS in the end!

    First things first, if your studying from the Osbourne book.... BIN IT!! Personally i found it no use atall.

    Secondly buy the BPP ICAS book from Amazon/Ebay. My gosh as soon as this book turned up it all made sense. The book has a sample case study, with sample report and sample mapping document and appendices so you can really see what the mapping document really means in simple terms!!

    In the end i done my report to the mapping document, starting with a SWOT, the organisation chart etc.

    Iv just had my report back from my first submission and am nearly competant (Only reason i wasnt is i didnt have time to do the CBA)

    Now looking back, and once bitten into the ICAS for me writting the report is nothing compared to the other subjects!! And once you have your head round it im sure you will feel the same! :thumbup:

    Moral of the story, relax.. read the case study..pick your areas...go through the mapping document and understand it in clear terms....start with a SWOT... begin with organisation background... read the BPP book for guidance.. and youl be fine!
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