This report will give a greater understanding of t
This essay This report will give a greater understanding of t has a total of 840 words and 5 pages.
This report will give a greater understanding of the information needs of a business. I will be looking at the: -
Material Flow and Information Flow
The annual report
For this, I will be using Bathtoys Ltd, to give an example of what information is required for the annual report.
1.0 Overview of Communication in Business
A business has to have a defined flow of information, either internal or external to the business. In addition, the business needs to be co-ordinated, so that the right people get the correct information and at the right time for the profitability of the company. The information within the company needs to be collected to show the shareholders and Companies House (the government) what the company has been up to over the year since the last annual report.
1.1 Design of Information Flow
Find Customer Wages
2.0 What information needs to be Stored
For the annual report you need to collect information over the year, and summaries the information for the report. This report will inform the shareholders and the government were the managing director has guided the company over the past year. It will show were the management has spent money, and were money has come in to the company. This is the type of data the company needs to collect, were it comes from and the reason it is collected: -
The finance department needs information on what money is in the bank now – this information comes from the bank, it will indicate the viability of the company.
The finance department also needs to know what the financial situation was the same time last year – this information comes from the annual report made the previous year, it will show if the company made more profit over this year. This indicating the strength of the company.
The sales department collects information on the money coming in from sales of the plastic ducks – this information is taken from the sale of the ducks, which has been stored on computer over the past year. This method enables sales and finance to have free access to the same information. You use this information to create a chart (profit and loss), which shows the strength of the company.
The purchase department collects information on the total cost of purchases of supplies and equipment over the year – this is summarised from the weekly/monthly orders. Used in the profit and loss chart.
The finance department collects information of the amount of wages, rent, electricity, and tax the company has paid over the year – this is taken from the amount the bank has released to pay these payment requests. Used in the profit and loss chart.
The net profit will indicate what the company has made over the past twelve months, this is summarised from the above.
This information will show the profitability and viability of the company. And if the money that the shareholders invested in the company – by buying the shares the company placed on the market – are still worth what they paid.
2.1 What to do with the Information
This information is collected together for the use of the shareholders; they can see if the company is being run to a satisfactory level and take action if it is not. One of the actions they can chose if the company is not heading the way they would like is to demand changes in the management of the company i.e. fire the managing director.
The annual report can indicate to the management if what they said they were going to accomplish in the last annual report is what actually happened, and if not it should indicate what went wrong.
3.0 Why use a manual system to construct the reports
Firstly it is to ensure that there are no mistakes with any part of the annual report. There is no sensitive information that anyone can use for the benefit of other companies, shareholders do not own shares in one company and could decide to give the information to your competitors. There are multiple reports, one for the shareholders, another for Companies House and the management of the company (to show were they can improve the day to day running of the company) all using the same information, but edited to give only
Topics Related to This report will give a greater understanding of t
Financial statements, Corporate finance, Annual report, Grey literature, Finance, Business, Information governance, United Kingdom company law
Essays Related to This report will give a greater understanding of t
What words come to mind when you think of ContinenWhat words come to mind when you think of Continental Airlines? Successful company, preferred airline, good service, on-time airline, top carrier, financially solvent, happy employees. These are all true; however, this was not always the case. Just six short years ago, probably not one of those descriptions would even be said in the same breath as Continental Airlines. In fact, in 1994, Continental was facing its third bankruptcy; that bankruptcy would have been the final blow to take this airli
This paper will discuss the public perception of CThis paper will discuss the public perception of CPAs in today\'s society, pitfalls that they may encounter, methods to prevent some of these negative behaviors and consequences they may face should they fall short. Most Who Do You Trust? surveys rank politicians, lawyers and used car salesmen at the bottom and certified public accountants at the top. That is because the CPA profession has a squeaky clean image--anal-retentive little wimps who wear thick glasses and cannot get a date. CPAs are k
Contents 1. Introduction 2. What is Business EthicContents 1. Introduction 2. What is Business Ethics? 3. The 10 Benefits of Business Ethics 4. Case Study on Nestle 4.1. The Impact of Business Ethics on Nestle 4.2. Nestle\'s view on Business Ethics 4.3. The Implications of Business Ethics on Stakeholders 5. Conclusion Introduction Businesses have power through their ability to spend vast amounts of money. They have the ability to enhance or change situations that the common individual does not. As organisations affect many people, they have obl
One of the subjects of international business thatOne of the subjects of international business that I have a particular interest in concerns the different payment tools that importers and exporters use when selling goods. There is an added level of risk present when conducting transactions internationally. This risk is in the form of theft, fraud, non-payment, complications of multiple governing agencies, and the inability to meet time deadlines. There are many financial payment tools that are currently being used to combat the problem of inte
Economics 26121Economics 26121 September 18, 1999 The Euro To most people in the United States hearing the word Euro brings about blank stares. Ask this same question in England or another European country and it means bringing Europe together under one common currency. The Euro can be defined as the common monetary system by which the participating members of the European Community will trade. Eleven countries Germany, France, Spain, Portugal, Ireland, Austria, the Netherlands, Belgium, Luxembourg, Finland an
INTRODUCTION :INTRODUCTION : In this essay, I would like to start with a brief explanation about the accounting regulation and standards set for various treatments consists of gaps where the rules are vague or even incomplete. Then, I would like to give a brief introduction about the development of standards set for capital instrument, such as TR677 (ICAEW), FRED 3 and FRS 4. Next, I will go into details examining the problems found in these proposals and standard, especially FRS 4. Coming to this stage, I wi
The Balance SheetThe Balance Sheet Although the balance sheet was first implemented just a couple of centuries ago, it has quckly developed and sophisticated to become nowadays a widely used and powerful tool in the hands of professional users, well known and popular even among the mass public. In spite of its prominence, or may be because of it, the balance sheet can not be easily and fully described in a few words, but still, if we leave aside its various functions and forms and any other subjective factors, w
TRUTH AND THE EVOLUTION OF THE PROFESSIONS: A COMPTRUTH AND THE EVOLUTION OF THE PROFESSIONS: A COMPARATIVE STUDY OF \'TRUTH IN ADVERTISING\' AND \'TRUE AND FAIR\' FINANCIALSTATEMENTS IN NORTH AMERICA DURING THE PROGRESSIVE ERA Both advertisers and auditors wrestled with the truth of their text during the Progressive Era (1880-1940). Although in North America, advertisers adopted truth in advertising as a theme, auditors rejected true and fair as a description of financialstatements. Auditors instead adopted the weaker statement that financia
SlavesSlaves This paper is about the characteristics of Masters and Slaves and the similarities in the personalities of people like Hitler and Jim Jones, the leader of Jonestown, in Guyana, where he ordered several hundred of his followers to commit suicide. They, like the millions of Germans who gave up their lives for their Fuhrer, obeyed. Why? Rousseau said that everybody emerges out of early childhood either with a slave mentality or with that of a tyrant. These terms can well be applied to the ex