Payroll Accounting Essay

I visited Cabelas on friends and family night, so I wieldd their interior(a) controls. I also asked my inside source of their indwelling controls that argon non seen on the sales floor. My source provided me with Cabelas Business Code and moral philosophy which clearly states All Outfitters are required to appropriately manage and apology Cabelas assets, ensure their efficient use, and ensure they are used for verit adapted business purposes maintain complete, accurate, and timely financial records related to their area of right assure the integrity of alone Cabelas books, records, and accounting practices. Each current employee must read this booklet, and then sign their name stating that they read and are in compliance with what it outlines. Outfitters are required to cooperate with reason to whatever(prenominal) legal and governmental requests, inspections, and investigations. Some of the internal controls that I observed were computerized inventory, all Outfitters wit h headsets, classic personnel only in businessrooms, authorized personnel to cover munition sells and shoot buy backs, and high end merchandise not beingness handed over until paid for.When I was there I noticed some of the larger products were starting to run low, so I asked my source how they know if there were any more in stock without having to go to the stockroom. She said they befool computerized inventory, so all she would have to do is put the UPC in the database. Then she would know right then if they were any longer or if they would have to place an order for the product. This leads to why every Outfitter having their accept headset, once she finds out if there are more she just has to name over the headset to a recovery team member. The reason she has to call to the recovery team is because they are the only ones allowed in the stockroom. This cuts blue on internal theft, helps with inventory, and audits. With this type of control when something is out of place whether that is merchandise or pay recordings it is easier to pin point the misstep.Another internal control that I was able to observe was high end merchandise is never released to a customer until the final transaction is complete. While there I overheard a customer asking for an expensive pair ofsunglasses in the gift shop class section, the Outfitter got the sunglasses, took the gentlemans name and told him they would be at register ii when he was ready to check out. This helps with two things, theft being the biggest fixings but also with the front registers being the only places non-specialized merchandise is purchased it cuts down on multiple closing records. I say non-specialized merchandise because guns of any type must be purchased at the register in the gun library. Which brings in the last internal control that I was able to observe when a gun of any kind whether it be a subtle hand gun to a hunting rifle, not only is it purchased at the gun library but an author ized personnel called a gun moon curser carries the gun and escorts the customer to the exit door.Cabelas also has an authorized person standing at the exit doors that has been told via headset that a gun runner with x-amount of guns is heading his way. He is also authorized to check and lock guns being brought into Cabelas for buy back. After he puts a lock on it he then calls for a gun runner to come land the gun, carry it, and escort the customer to the gun library. With everything I observed and was told by my source, Cabelas leaves no holes in their internal workings, from merchandise to keeping with their finance records. I would say they are doing something right because this is one of the few companies that have not had their name ran through media mud due to fraud.