Operations of Business

Posted by on Apr 11, 2011 in Operations of Business | No Comments

Operations Of The Business
Jones’s business is involved with collecting their clients information such as their income earned, a payment summary (to employees), dividends, bank accounts, tax deductions (eg) for charities), and whether or not they are part of a union. The information is collected into a file, and the information collected is put into the computer, into a program called “Handitax”. This program then produces a 6 to 7 page report of their tax return, which is done annually. The information can also be used to produce tax returns, profit and loss (revenue) statements, cash flow statements, and balance sheets. (see appendix (x), (xi))
However, if one of Jones’s clients owns a company, they must bring in business records, checkbooks, bank statements and information about purchases. Then this information is collected and put into a computer program called “MYOB”, which produces statements of tax returns, profits for the year, GST Liabilities, and balance sheets (see appendix (xi)). These statements are very handy for businesses to keep track of their financial status, says Jones.
Businesses that have an annual turnover of greater that $50000 also have to complete a business activity statement quarterly, as well as their tax returns. (see appendix (xii), (xiii)) Businesses who have a turnover of less than $50000 a year have to complete an IAS (Installment Activity Statement). Another operation of Jones’s business is assisting clients with completing these forms, and she can also sometimes forward them to the tax department on their behalf, according to Jones.
Jones’s employees also take part in collecting information and assisting in the process of converting this information into various financial documents, but Jones is the one in charge of operations, and does most of the work by actually consulting with the clients (face to face).
Jones also takes part in informing her clients of their tax status by sending them letters regarding their income tax status (see appendix (iv)).

Ordering Of Stock And Suppliers
Although it is not a manufacturing business, MMGHB Chartered Accountant orders its stationery such as pens, paper, and whiteout from Viking Suppliers. Since the business has easy access, Viking Suppliers are even able to deliver the stock upstairs into the office area.

Rosters / Schedules
Because Jones and her employees are very flexible, they do not have any specific schedule of working hours. Jones claims that she just decides that they can go home whenever she feels like it! However, their working hours are affected by the amount of work that they have to do at different times during the year.

Layout In Relation To Operations
The layout of MMGHB Chartered Account was very carefully designed by an office interior designer, who planned the placement of all the office furniture, as to provide the most smoothly running operation of the business.
As the clients walk in the front door of the business, they are greeted by the receptionist, who asks them to sit in the meeting room until Jones is finished dealing with her other clients. After Jones meets her clients in the meeting room, she takes them upstairs to her desk to discuss their accounting.
Her staff’s desks are situated on the other side of the room, relatively close together, so they can discuss their results. Since the apartment is very spacious, there is ample space to move between the desks, so Jones’s employees can easily pass their information onto her. The photocopying machine at the back of the room is easily accessed by all.
The various filing cabinets in the office (including the file storeroom and the one in the centre of the top floor) are very effective because they make the office very organised, which aids with smooth operations within the business.
Finally, the attractive Ikea furniture, kitchen and bathroom facilities, and patio make the office look professional and inviting to clients, but also creates a good working atmosphere, says Jones. (see appendix (v))

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