SEL 531 Week 1 Assignment Paper

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Recommended: Cash management and its objectives

Assignment-1 PA2

Question 1: a 3 b 1 c 3 d 3 e 1 f 4 g 4 h 1

Question 2 Memorandum
To: Alfonso and Leo, Owners, SEL
From: Me, CGA, Controller, SEL
Date: September 16, 2014
Subject: Current Issues
This memo will address the main issues currently SEL facing and will provide recommendations where applicable.
Lack of cash management:
As SEL owners has no involvement in financial matters, SEL hired a part time accountant who has no experience to prepare financial analysis or forecasts. This has raised the issue of cash shortage. …show more content…

For companies like SEL where the risk is associated with the life of employees, it is necessary for the employers to pay insurance premium, as personal coverage of employees is not sufficient in case of any mishappening. If we ignore these payments, it would be unethical, as it is not certain that no accident will happen in future. As SEL’s new contract requires complex effects that may involve higher risk of accidents. If SEL failed to pay future payments and if any accident occurs, SEL would end up with paying higher premium and delay in projects completion. One more concern is that if new clients find out that SEL has no insurance coverage in place, it could have negative impact on SEL’s …show more content…

So SEL is considering to adopt accounting software that can manage these daily complex transactions easily.SEL has three options of vendor A, vendor B and vendor C package. Each package has additional feature better than the other. Some features are same in three packages: bank conciliation, account payable, account receivable and payroll. Alfonso preferred the package C because of social media but this is not needed because SEL is already utilizing this feature to attract foreign clients. With the growth of business, more employees are required. Leo is suggesting package A with HR function that can be used to prepare employee reports, time-off and benefits. All these packages have payroll function that can fulfill required

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