Accounting 1 Essay Example | Topics and Well Written Essays - 500 words - 1

Accounting 1 - Essay Example The organization had elaborate risk assessment about which every employee was cognizant. The organization conducted risk awareness and emergency response training regularly. Fire extinguishers were regularly checked and replaced and there were notices providing information on what do in the event of a hazard. The management routinely supplied employees with the latest information on common and emergent risks. I realized that the organization monitored and reviewed its internal controls periodically. The petty cash was checked at the end of every week and recommendations given on what to avoid and what to improve. Internal controls that were found ineffective or failing after monitoring were replaced and others were improved in order to enhance their functionality. The organization had a comprehensive yet simple way of reporting risks to the relevant officials in which everybody knew the most immediate person to approach. The organization had good information and communication system in place. The management issued memos in good time when calling for a meeting and every employee was issued with a copy of previous meeting’s minutes with the day’s agenda. The management was respectful in the way it summoned employee for disciplinary action and they did not let other employees know about it. The most outstanding element of the organization’s internal controls was its control activities. The duties of different individuals were separated and every individual knew what they were supposed to do and what to forward to the next person. This was most evident in the accounts department where duties such as approval of purchases, reception of deliveries, approval of invoices, review, and reconciliation of financial records were handled by different people. There were clear procedures for transactional authorization where there were officers entrusted with authorizing purchases and payments. No such transactions could be undertaken

Quality Management principals Essay Example | Topics and Well Written Essays - 500 words

Quality Management principals - Essay Example The backbone of an organization is its clients or customers because of the mutual independence and this forces the organization to strive to meet and exceed the customer expectations. Customers will stick to an organization that upgrade its services and develops new products that are genuine. A leader should always ensure that there is unity and purpose for the internal environment of the organization that he or she guides. Leaders must be people whose intelligence quotient is very steady and high in order to make wise decisions. This means that a leader should clear visualize the mission and vision of the organization in the future (Robbins & Coulter, 2012). Leaders should develop a participative environment through the formation of partnerships. Other important principles that a leader should consider are encouraging innovation, change and operating in a secure environment. Individuals at all points are the core of the firm and their proper participation makes their ideas to be an important factor for the firm’s benefits. Workers will also perform perfectly in their areas of specialization when the appropriate work tools are available. Goals set for the employees must be realistic and empowerment of the various cultures of employees should be empowered and this will facilitate the idea of group work (Robbins & Coulter, 2012). Processes in an organization should satisfy customer needs. If they don’t then they are not the required processes. Processes are always flowing and focus on creating the appropriate methods for converting products into finished goods and services. Effectiveness and efficiency of an organization is done through identifying, understanding, and managing a system of interrelated process to a given objective. Since a system is identifying all interrelated processes and their interdependence then they should be properly managed. There are three factors to consider in order for