Essays on Superannuation

Business Health Check

[Insert Date]

Introduction

Happyville Pharmacy is a family owned business located in Brisbane. Husband and Wife pharmacist Joe and Betty Blow are the owners of the store and it is run independently without any banner group. Although the main products sold are related to pharmaceuticals but the store also sales other products such as baby products, confectionary, cosmetics, small gifts, household and domestics products and perfumes. It also sales non-medical skincare products and oral hygiene products. As per the 2014 guild report which reported data for the years, 2012 and 2031 in Australia, community pharmacy industry has an overall size ...

In a building and construction business, proper financial management is essential for the smooth of running of the business and achievement of profits. The essence of financial management is in proper record keeping. The table below shows the basic records that are a must in any business, the person responsible, frequency, review process, and why the record.

RECORD

PERSON RESPONSIBLE

WHEN TO BE PREPARED (FREQUENCY)

REVIEW PROCESS

WHY YOU NEED RECORD

Petty Cash

Accounts Clerk

Weekly

Manager reviews the petty cash system on a quarterly basis so as he can balance and reimburse money in the office.

Certify that minor purchases not ...

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 ...