Debtors Reports Samples For Students

Problem Definition

Paqua Group is a European – based organization, with subsidiaries activating in seven countries in Central and South – Eastern Europe, specialized in debt collection and debt purchase. Being a relative new player on the collection market, the company is seeking new opportunities for positioning as one of the strongest competitors on this market and in the same time it faces the challenges imposed by the economic and financial climate. As such, due to the economic crisis and the continuous financial and economic instabilities that define the 21st century Europe, the company’s activity is facing challenges, as well as opportunities to grow. ...

Debtors filling system will be the responsibility of the accounts clerk and is prepared when the business is preparing and updated on a weekly basis. The records are prepared and recorded in the debtors’ accounts. The debtors’ accounts may either be debtors’ receivables or the debtors’ payments accounts and this is determined by the payment method of the debtors. The accounts are usually reviewed either on quarterly basis or annually depending on the volume of work carried out by a business. They may also be reviewed when an audit is being carried out and this has no specific time, since it ...

Debtors’ system

The debtors’ system will be the responsibility of the business accountant.

The debtors’ system will be used to develop debtors’ records at the end of each month.

The debtors’ system will be reviewed at the end of each month to ensure that the level of debtors is within the business allowable limits and to ensure that the risk of bad debts is minimized.

Cash book

The cash book will be the responsibility of the accounts clerk.

The cash book will be reconciled at the end of each working week and reconciliations with cash in hand and cash in bank made.
...

GENERAL LEDGER

DEBTORS LEDGER
CREDITORS LEDGER
Debtors’ schedule
Creditors’ schedule
Trial balance
Income statement
For the month of October
Workings:
Determination of GST
- GST on cash sales
Total amount of sales = 11,980

GST is 10%

110% = 11,980
100% = 100/110 × 11,980
= 11,800
GST = 11,980 – 11,800 = 1,180
- GST on credit sales to H. Simpson
Total sales = 550
GST = 550 × 10110
= 50
Credit sales = 550 – 50 = 500
- GST on credit sales to N. Flanders
Total credit sales = ...

This report comprehensively discusses the significance of keeping financial records and how financial information available in the financial statements of an entity help wide range of stakeholders in assessing company’s performance to make viable economic decisions. Moreover, as follows the report also defines the budgetary control process and different costing methods and their effects on short term and long term performance of the business. I would also like to discuss the statutory requirements of recording and reporting financial information for entities operating in the United Kingdom.
There are several reasons for companies to retain their financial records. ...

Part 1)

Analyzing financial statements of the company is of great importance as it serves different purposes of each interested party. For Instance, while investors analyze the financial statements to evaluate their investment decision in the company, creditors are more concerned to judge the profitability of the company i.e if the company will be able to honor their agreed payments on time. Apart from these outside parties, even the management of the company conduct financial statement analysis so as to formulate future plans and decisions.

However, there are different tools available for supporting the financial analysis of the companies and the same are discussed hereunder:

Vertical Analysis: A popular method of conducting financial statement analysis in which each entry of the ...

Amazon.com Inc.

Description

Amazon.com Inc. is a worldwide online retailer company that has an international presence. It was started in 1994 in the state of Washington and later reincorporated in Delaware in 1996. The operations of Amazon are premised on retail through online orders and follow up by physical deliveries for goods and online service delivery for services transferable online. Amazon.com Inc. specializes in four broad categories of consumers; retail consumers, sellers, content creators and enterprises. The company has a number of services aimed at diversifying their investment through an expansive portfolio. Other than retail sales, revenue generating sources include marketing and ...

i) Relationship between People, Information, and Information Technology in Thineline Trading Company
People are important in any trade as they play various roles starting from business case development to distribution of the product or service to the consumer. Communication between various stakeholders is enhanced by the effective delivery of information from the company to employees, creditors, debtors and customers. Even the people who relate to the employees see themselves as part of ThineLine Trading Inc. as they daily associate and interact with products and information of the company. It is the employees of the firm who assist in articulating ...