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Essay / Research Paper Abstract
This is a 5 page paper which examines the strengths and weaknesses of the financial management controls of a business known as Biltrite Bicycles.
There is no bibliography.
Page Count:
5 pages (~225 words per page)
File: D0_JHBilt.rtf
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Unformatted sample text from the term paper:
moral convictions. If financial responsibilities are widely diffused throughout the organization, then the individual service managers need to be educated in the financial morays of the business and they need
to be able to contribute, to challenge and to interpret financial information. Once they have been able to examine all financial information, they then need to be able to
give advice about the companys best course of action. Since the beginning of 2004, Biltrite Bicycle has been using a real time accounting system. In 2005, the company had
enough confidence in the new system that they discontinued the use of the old manual system. All accounting systems and informational systems are now centralized at the Texas Home
Office. There are several significant features of the computerized information system that deal specifically with the financial controls of the company. The computerized ledger contains the accounts receivable, accounts payable,
running inventories, each plants assets, the payroll and the general ledger. The sales processing procedure is also centrally located. Customer sales orders are input by salespersons though terminal located
at each retail outlet. Separate logs are maintained at each individual terminal which shows the date of the entry, identifies the salesperson taking the order, the identifying number for the
customer, the stock number, and the number of units ordered. The computer the prepares a three part sales invoice. The computer fulfills the function of filling out the sales
invoice to include all of the customers pertinent information. The payment terms and any applicable discount are also made a part of the sales transaction by the computer. The
customer receives the original invoice, the first copy goes to the warehouse, and the final copy is kept. When a signed bill of lading is received which confirms shipment,
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