Explain the Possible Financial Management Objectives Of Businesses That Make Profits

Tuesday January 4, 2022

What do you think is the most important issue?

OD & Change – Application 4.2 Entering Alegent Heath

Identify and explain a total of six (6) weaknesses (specifically focusing on threats that are not adequately addressed by controls) with the special ordering system, including a very brief explanation of how each weakness represents a potential problem. In your answer, you must describe:
two (2) weaknesses with the purchasing procedures
two (2) weaknesses with the receiving procedures, and
two (2) weaknesses with the accounts payable procedures.
For each of the six (6) weaknesses identified (two per process), you must recommend a modification (either changes in process activities or suggested controls) that can be made to procedures to address(a) Explain four (4) possible financial management objectives of businesses that make profits. 8 marks (b) Explain the weaknesses or problems of each of the objectives you have explained in (a) above. 8 marks (c) What do you think should be the best objective of profit-making business organisations and why do you think that should be the best objective? 4 marks;


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