ICAS - Stuck on the mapping document

baileyqueens

Hi Guys,

Stuck on several parts of the mapping document for ICAS. I'm really no good at this writting stuff hence why I chose a career in finance :001_unsure:

I'm stuck on the following

1. Explain how the accounting systems are affected by the organisational structure, systems, procedures and business transactions.

2. Explain the effect on users of changes to accounting systems caused by External Regulations & Organisational policies and procedures.

3. Explain how an accounting system can support internal control.

4. Explain the value and benefit to a specific organisation of different accounting systems and software packages

5.Identify an organisations account system requirements

I may have already covered these in my analysis, just need some guidance on what to write about etc. Please excuse me for being so thick......

Cheers in advance!

Malcolm Green

ICAS Mapping

Hi Baileyqueens, you may like to have a look over this attachment to see if it offers any help to get you back on track.

Attachment not found.

I have put down a few suggestions for you as well.

1. Explain how the accounting systems are affected by the organisational structure, systems, procedures and business transactions. - This could mean a reporting and time delay for certain processes due to authorisation not being available locally to deal with this, or only transactions up to a certain amount can be dealt with my a team without needing sign off at a higher level or it could be company policy that supplier payments are only normally made on a certain day or time of the month and what this means when being chased for payment.

2. Explain the effect on users of changes to accounting systems caused by External Regulations & Organisational policies and procedures. - This could mean additional training for staff and introduction of new systems for reporting the updating of systems manually or by local updates which would need to be managed to be compliant.

3. Explain how an accounting system can support internal control - One aspects of this would be for managing Fraud - look at the common types of fraud encountered and methods used to detect fraud and potential areas for fraud within the organisation.

Examples:
–Claiming for overtime not worked
–Claiming for expenses not incurred
–Claiming for time/work not done/completed
–Fictitious employees
–Fictitious invoices/receipts
–Theft of inventory/stock /materials
–Theft of cash from tills/petty cash/vending machines

Also these systems could provide MI for the control of stock and other information such as sales data as part of the reporting requirements for production and management meetings etc.

4. Explain the value and benefit to a specific organisation of different accounting systems and software packages - Depending on the type of business and size and budget available this could be the use of an off the shelf package or a full bespoke package for the business or the use of simple spreadsheets. Using payroll processing as an example a small company could be using HMRC software or Sage for the other functions available to them.

5.Identify an organisations account system requirements - What does the company need from this system. ie stock control

As I do not know your topic theme I cannot offer any further suggestions other than looking at what is being asked of you again and provide a summary and answer to this based upon who does what and why, what systems/processes are used and why and what are the benefits of this to the business/department and why do they do it or need/are required to do it etc.

I hope you will find this of assistance and get you over your writers block.