ICAS Report Help

pari

I have started the ICAS project 9 days ago and it is on Chic Paints Ltd. I have chosen accounts payable and I have already written out the introduction and internal systems of control. I have skipped the record keeping systems because I simply do not get it! I am also stuck on fraud and I only have identified a few possible frauds and causes of fraud.
I was thinking that the fact that the company pays their suppliers on 30-60 days open credit has something to do with fraud yet I can't find out what it is. Please tell me if otherwise.
This project has literally killed me! The sample assessments seem to be easier (which gave me false hope that the actual case study would be a breeze).

NME504

Hi, record systems should be the way they record transactions and the implications of these procedures. I found both the Osborne and bpp books a great help along with my training provider when completing this unit.

Maybe in the case of late paying their suppliers it may be more ethical? Chic paints is certainly a challenging case study but very interesting.

pari

Thanks Natasha!
I did order a BPP book last week and waiting for it to come in the post.
I was wondering that the fact it was open credit (credit without security) had something to do with fraud. Maybe I'm wrong...
It surely is a challenging case study, much harder than example case studies like Cookridge and Cookridge Ltd which I used to practice.

NME504

The bpp book will help you as it gives you a mock case study plus a suggested solution. The credit situation is certainly something that need to be analysed further.

miskaey

i am also doing chic paints but as for me i m more focused on the information technology systems and i found it interesting cuz i only focus on IT..