Nelson's Pharmacy

The following report offers our initial findings from our review of the Operations, Internal Controls and write up Information dusts at Nelsons Pharmacy. We have reviewed Nelsons Pharmacys procedures and have conducted preliminary interviews with yourself and the employees. Our findings ar detailed below.

Identified Issues/Problems

While there were several concerns with respect to the operations, accounts payable and learning placements, three main areas for improvement have been identified. The discipline system requirements, method of accounting procedures and internal controls are the areas where improvements would provide the most benefits to your store.

Information System Requirements

We understand that Fast-Books is currently being use to manage the companys accounting information needs. There is no mention of whether or non backups of the information stored in this computer are being do and how frequently. If the computer were to break down and the information was not retrievable, alone the accounts receivable information would be lost and it would be up to Mrs. Nelson to determine outstanding balances if no backs up were available.

As your current information system is a single user system, the addition of an superfluous computer in the office would not allow more than than one person to access or input information at a time. This could be a concern disposed(p) the varying nature of the duties Mrs.



Nelson and your son Gordon complete.

It was also noted that the bar chart of accounts is currently being used. Further review and treatment with Mrs. Nelson and Gordon would determine if the chart of accounts could be modified to better effort the needs of the company. Removing accounts that are not currently being used could help to clear up statements and reduce the risk of ill-considered entries. Additions of accounts to separate department inventories, for example, could help in evaluating purchases and inventory...

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