Powerpoint Templates Page 1 Powerpoint Templates Overview of Operational Reviews by Cpa Juan M. García Merced.

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Presentation transcript:

Powerpoint Templates Page 1 Powerpoint Templates Overview of Operational Reviews by Cpa Juan M. García Merced

Powerpoint Templates Page 2 Why Businesses are in Existence: 1.The customer service business. To provide goods and services to satisfy desired customers, so that they will contiinue to use the business’s goods and services and refer it to others. 2.The cash conversion business. To create desired goods and services so that the investment in the business is a quickly converted to cash as possible with the resultant cash-in exceeding the cash out.

Powerpoint Templates Page 3 Basic Business Principles: 1.Produce the best quality product at the least possible cost. 2.Set selling prices realistically 3.Build trusting relationships 4.Do not spend a dollar that doesn’t need to be spent 5.Manage the company 6.Do not hre employees unless they are ABSOLUTELY needed 7.Develop contingency plans for the unexpected

Powerpoint Templates Page 4 Criteria for Growth: 1.Cost reductions 2.Price increases 3.Sales volume increases 4.New market expansion 5.New distribution channels 6.Market share increase 7.Selling or closing losing operations, locations, or products 8.Acquisitions 9.Developing new products 10.Non value added activities eliminated 11.Making employees responsible 12.Organizational structures revisions

Powerpoint Templates Page 5 Helpful & beneficial: Areas in need of improvement Pinpointing the cause Quantifying the effect of the problem Developing recommendations to correct the situation

Powerpoint Templates Page 6 Three Operational Reviews: 1.Economy – conservation of resources Following sound purchasing practices Overstaffing Allowing excess inventories Using equipment that is more expensive than necessary Avoiding the waste of resources

Powerpoint Templates Page 7 Three Operational Reviews: 2. Efficiency – minimum expenditure effort Improper use of procedures Inneficient paperwork flow Inefficient operating systems Duplication of efforts Unnecessary work steps

Powerpoint Templates Page 8 Three Operational Reviews: 3. Effectiveness – achieving results or benefits based on stated goals and objectives Appraisal of the planning system Determination of the extent to which results are achieved Identification of factors inhibiting satisfactory results

Powerpoint Templates Page 9 Operational Reviews Phases 1.Planning 2.Work programa (audit plan) 3.Field work 4.Development of findings and recommendations 5.Reporting

Powerpoint Templates Page 10 Criteria for Selecting Critical Areas 1.Areas with large numbers in relationship to other functions 2.Areas where controls are weak 3.Areas subject to abuse or laxity 4.Areas that are difficult to control 5.Areas where functions are not performed efficiently 6.Areas indicated by ratio, change, or trend analysis 7.Areas where management has identified specific weaknesses or needs for improvement

Powerpoint Templates Page 11 Powerpoint Templates Questions????