...Internal Control and Risk Evaluation – Kudler Fine Foods Lisa Cook University of Phoenix ACC/542 August 15, 2011 Internal Control and Risk Evaluation Internal controls and risk assessments are an integral part for a company to be successful. Management at Kudler Fine Foods has reviewed the flowcharts prepared and is requesting information on controls that will be required. Risks are none to be a negative event occurring in a company’s productivity. Internal controls are the policies and procedures put in place to reduce unforeseen occurrences associated with the risks. This brief will discuss the risks of Kudler Fine Food’s current Accounting Information System (AIS) evaluated by Team B and incorporate the controls into the flowcharts, design internal controls to mitigate risks to the systems, evaluate the application of internal controls to the systems, and discuss other controls, outside the system, that Kudler Fine Foods may need. Risks in the Systems According to Hunton, Bryant, & Bagranoff (2004), “business enterprises face a variety of risks, including business, audit, security, and continuity risks” (pg. 48). When analyzing Kudler Fine Foods current information system the team found that Kudler lacked internal controls and risk evaluations required to run their information system. Several concerns were brought up as major potential risks. The three risks focused on are those of business, security, and continuity. Several of Kudler’s risks within the...
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...SERVICE REQUEST SR-KF-013 - KUDLER FINE FOODS Service Request SR-kf-013 – Kudler Fine Foods Kent Alexander, Tracy Duncan, Elvis Rocha Jr, Eliseo Perez, Todd Ruggles University of Phoenix BSA375 Fundamentals of Business Systems Development May 10, 2010 System Development Phase I Kudler Fine Foods is committed on providing customer satisfaction to all customers that purchase products from all of affiliated stores. To better serve the customers, Kudler is interested in developing a system to track customer purchases through a Frequent Shopper Program to award loyalty points for redemption (Kudler Fine Foods). Scope To develop a Frequent Shopper Program (FSP) that will improve customer’s satisfaction, track purchasing activities from the customers, and offer high end product for redemption as a reward for shopping at their stores. Goal Under the new program, each customers purchase transactions will be recorded and reward points will be earned base on dollar amount spent per transaction. Once points are accumulated, the points can be redeemed for high end gifts, products, specialty foods (Kudler), or partnership services from vendor companies. With the new system implementation, Kudler Fine Foods will be able to add new value to customers; improve customer satisfaction, increase margin profits, customer loyalty, and have adequate management system to track customer’s spending habits at Kudler Fine Foods. The main key stakeholders...
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...Functional Area Interrelationships This paper will state the primary reasons for our organization, Kudler Fine Food’s existence as it relates to their mission, vision, values, and goals. We will examine the organizational structure employed by Kudler Fine Foods, and identify the key positions that supports their structure. Identify and explain the steps of the collaboration process among the functional areas that must be employed to achieve organizational goals, and prepare an action plan to implement the collaboration process. Also, we will identify and provide an example of the use of lateral collaboration and vertical collaboration within Kudler, and prepare an action plan to use lateral and vertical collaboration. As well as recognize the key stakeholders and their roles needed to achieve the organizational goals, and recommend the collaborative interactions among the key stakeholders to facilitate the organization’s success. Kudler Fine Foods is an upscale specialty food store located in the San Diego metropolitan area. Because of the pressure on Kathy Kudler due to much traveling and the corporate life, Kathy decided to seek out other opportunities. Kathy found that cooking gourmet meals was a way that she would relieve stress, this sparked and opportunity that lead to the opening of the first Kudler Fine Foods 1998. Because of Kathy Kudler’s vision Kudler Fine Foods now operates out of three locations; Del Mar, La Jolla, and Encinitas. Kudler’s mission, “We will...
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...Kudler Fine Foods: Accounting Systems Chris Kozyra BSA/310 June 30, 2014 Professor Paula Billups Kudler Fine Foods Accounting Systems According to Raiborn (2010), “An accounting system provides a systematic approach to collecting, processing, and communicating financial information to decision makers in an effective and efficient manner”(Ch. 2, An introduction to the Accounting System, para 1). Kudler Fine Foods hired a consulting firm, Smith Systems Consulting, to help select, install, and maintain a Retail Enterprise Management System (REMS). The features, technology, benefits, and cost of the accounting system will help inform the decision makers of Kudler Fine Foods and help them is directing Kudler Fine Foods’s future. Key Features There are six major modules that will be used in the new accounting system. They are the General Ledger Module, Accounts Payable Module, POS Module, Bank Reconciliation Module, Asset Management and Accounting, and Security. The General Ledger Module contains the chart of accounts, transaction details, financial reporting, budgets, and limit manual data entry. The Accounts Payable Module includes vendor codes, master files, check printing, tax and freight allocations, and bank accounts. The POS Module includes retail sales and reports, provides data to the General Ledger, and cash and credit sales transactions. The Bank Reconciliation Module handles reconciling checks, account deposits...
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...Kudler Accounting System To the Executives of Kudler Fine Foods, Today, I introduce to you an idea that will help revolutionize the accounting process at Kudler Fine Foods. Upon its implementation, Kudler Fine foods will be able to easily manage its portfolio of accounts and analyze all of its data, all at a moment’s notice. The ability to access reports, on a annually, bi-annually, quarterly, or any time therein, is completely up to the individual. The financial benefits will be instantaneous to the company. One of the key benefits Kudler Fine Foods will gain will be the ability to handle all the raw data that you did not have command of before. This new system not only allows you to improve your financial strategies, but you can also increase your management potential by forecasting future investments. By prompting these new strategies, you are able to access areas of information not easily accessible before, like cash flow and asset management, just to name a few. How can we achieve this level of satisfaction in one software product? Let’s take a look at some of the key features that are built in to the accounting software package. Key Features •Software Compatible – The software is fully integrated with the most popular of software technologies. It will work with the Microsoft Office Suite of applications seamlessly. This will allow Kudler Fine Foods to be able to integrate reports into documents, spreadsheets, or emails without any technical issues. •Cross-Department...
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...reliable internal control process in place is integral to business success. Kudler Fine Foods have a well-designed accounting process, however, these systems are not integrated. In order to create efficiency and maximize profits, Kudler must streamline processes and integrate the important functions. The following paper looks at four of the critical processes, payroll, inventory, accounts receivable and accounts payable that capture the core activities for the business. Furthermore, the paper documents the rationale on why Kudler would benefit from an industry specific software to improve automation of these processes. Industry-Specific Software An industry specific software will protect critical business data through well-defined roles and security access and help plan work based on existing orders and future forecasts. An industry specific software, preferably an Enterprise Resource Planning (ERP) system would be the best option for Kudler to implement. The ERP system will provide tools to the business to increasecustomer satisfaction and better equip Kathy with information to help in decision making. An ERP system will automate business process, which will create efficiency and avoid additional expenses to increase overall performance, (Syspro, 2015). An industry specific software allows customization by adding more advanced features to the current package. It will add value to business and allow Kudler to advance its capabilities over time. It provides flexibility to build...
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...Kudler Fine Foods and Wine Company Merger Troy T FIN 370 March 19th, 2014 Kudler Fine Foods and Wine Company Merger Since 1998, Kudler Fine Foods has proudly served residents of Southern California with the highest quality of meats, produce, cheeses, and other fine food products. The Kudler grocery store brand is well known for the quality of their products, the deliverance of exceptional customer service, and their philanthropic efforts within the San Diego community. Additionally, the increase in Kudler Fine Foods' popularity stems from the fact that they offer their shoppers locally grown products, further supporting the region's economy. In recent boardroom discussions, the leadership team at Kudler Fine Foods has expressed their desire to expand the business to other regions, increase exposure in sub-markets and ultimately, obtaining revenue growth. After months of deliberation, the executive team has decided to expand their operations by merging with their former competitor Macy's Market. Prior to finalizing their merger, Kudler's Fine Foods explored numerous options for their expansion. They contemplated offering an IPO and an acquisition, before finally deciding on a merger with Macy's Market. The Macy's Market organization can offer financial stability while Kudler's Fine Foods has the reputation in the community. Furthermore, the leadership team at Kudler conducted a detailed SWOT analysis on the potential effects of such a merger. Operating as one organization...
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...Kudler Accounting System To the Executives of Kudler Fine Foods, Today, I introduce to you an idea that will help revolutionize the accounting process at Kudler Fine Foods. Upon its implementation, Kudler Fine foods will be able to easily manage its portfolio of accounts and analyze all of its data, all at a moment’s notice. The ability to access reports, on a annually, bi-annually, quarterly, or any time therein, is completely up to the individual. The financial benefits will be instantaneous to the company. One of the key benefits Kudler Fine Foods will gain will be the ability to handle all the raw data that you did not have command of before. This new system not only allows you to improve your financial strategies, but you can also increase your management potential by forecasting future investments. By prompting these new strategies, you are able to access areas of information not easily accessible before, like cash flow and asset management, just to name a few. How can we achieve this level of satisfaction in one software product? Let’s take a look at some of the key features that are built in to the accounting software package. Key Features * Software Compatible – The software is fully integrated with the most popular of software technologies. It will work with the Microsoft Office Suite of applications seamlessly. This will allow Kudler Fine Foods to be able to integrate reports into documents, spreadsheets, or emails without any technical issues. ...
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...Kudler Fine Foods – Proposed Frequent Shopper Rewards Program BSA/375 Todd Feuerherm December 21, 2014 Introduction In Figure 1, we have a basic example of the data being processed through our reward point’s program database. First we have qualifying purchases that determine what points from purchases are rewarded in the transaction. Then we have a designated purchase behavior section that will determine what the customer mostly likes in their purchases and what they mostly buy. Total allocated points are information of points gathered from the customer’s purchases and the total amount available in their rewards history. Preferred purchases is also their purchase behavior but a little more in-depth of what the customers like and are more likely to have interest in when making another purchase. This helps give out certain advertisements to our customers that, through their purchasing behavior, they will find most interesting and highly probable of purchasing. Scope For the scope of this project, implementing a tracking system for customer loyalty is the primary scope of the improvement. The implementation will have an effect throughout the organization as the new Information Technology (IT) customer tracking system will be implemented organization wide. Therefore the scope of examination should be limited to the sales and marketing sections. Scope creep should be limited to changes that provide a significant tangible or intangible impact on the overall business. Functions...
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...Kudler Accounting System BSA/10 May 24, 2014 Sharon Foreman, PhD. Kudler Accounting System Kudler Fine Foods has hired a consulting firm to assist in them with their selection and installation of a comprehensive Retail Enterprise Management System. Smith Systems Consulting had been selected for the contract. The analysis from Smith system recommended a scalable, modular Retail Management System was purchased, installed and determined to be a superior fit for Kudlers’ retail stores. Key Features “The key benefit of enterprise system is data integration. Integration enables the sharing or exchange of data” (Turban, Volonino, & Sipior, 2011, Chapter 10). They key feature that will come with Retail Enterprise Management System are general ledger module; accounts payable module; point of sales module; bank reconciliation module; asset management and accounting; and security. These modules provides account charts, detail transaction which can be itemizes down into specific categories. Financial reporting is extremely important; these reports are needed balance sheets, income statement, and cash flow, tread analysis. Kudler Fine Foods would even have the option to pull a store comparison report. Determine each department budget, along with sales, inventory which are listed as non-financial accounts. When it comes to purchasing large amounts of specific food items internationally, that would require penalty of paperwork and meeting the requirements. Through retail...
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...Kudler Fine Foods-Strategy University of Phoenix MBA-502 July 27, 2008 “Strategic competitiveness can be attained only when the firm’s selected structure is congruent with its formulated strategy” (Gomez-Mejia et al., Chapter 7, pg 28). Kudler Fine Foods continues to manifest growth based on Mrs. Kudler’s original vision of a one stop gourmet food store. Having direct control over hiring, ordering and customer service, she has built the company into an expanding entity. The following is a discussion of strategy implementation, technology and opportunities, strategic recommendations and external forces to be aware of. Most growing companies have used information technologies (IT) to enhance operations and improve customer service. Mrs. Kudler has plans to add to the inventory and ordering automation by introducing new e-commerce capabilities and an online catering link (Kudler Fine Foods Portal, Strategic Plan, pgs 15-16). Strategic Information Systems have the ability to amplify strengths into potential sustainable competitive advantage. For example, British Airways implemented customer service online and self checking at the airports. Though the restructuring effected employee morale due to job loss, the company increased in efficiency and cost leadership. Mrs. Kudler is known for her kindness and generosity to employees, so the company will only prosper with new IT applications. Two main approaches of Strategic...
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...Kudler Fine Foods-Strategy Brian R. Duncan University of Phoenix MBA-502 July 27, 2008 “Strategic competitiveness can be attained only when the firm’s selected structure is congruent with its formulated strategy” (Gomez-Mejia et al., Chapter 7, pg 28). Kudler Fine Foods continues to manifest growth based on Mrs. Kudler’s original vision of a one stop gourmet food store. Having direct control over hiring, ordering and customer service, she has built the company into an expanding entity. The following is a discussion of strategy implementation, technology and opportunities, strategic recommendations and external forces to be aware of. Most growing companies have used information technologies (IT) to enhance operations and improve customer service. Mrs. Kudler has plans to add to the inventory and ordering automation by introducing new e-commerce capabilities and an online catering link (Kudler Fine Foods Portal, Strategic Plan, pgs 15-16). Strategic Information Systems have the ability to amplify strengths into potential sustainable competitive advantage. For example, British Airways implemented customer service online and self checking at the airports. Though the restructuring effected employee morale due to job loss, the company increased in efficiency and cost leadership. Mrs. Kudler is known for her kindness and generosity to employees, so the company will only prosper with new IT applications. Two main approaches...
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...Kudler Fine Foods-Strategy University of Phoenix MBA-502 “Strategic competitiveness can be attained only when the firm’s selected structure is congruent with its formulated strategy” (Gomez-Mejia et al., Chapter 7, pg 28). Kudler Fine Foods continues to manifest growth based on Mrs. Kudler’s original vision of a one stop gourmet food store. Having direct control over hiring, ordering and customer service, she has built the company into an expanding entity. The following is a discussion of strategy implementation, technology and opportunities, strategic recommendations and external forces to be aware of. Most growing companies have used information technologies (IT) to enhance operations and improve customer service. Mrs. Kudler has plans to add to the inventory and ordering automation by introducing new e-commerce capabilities and an online catering link (Kudler Fine Foods Portal, Strategic Plan, pgs 15-16). Strategic Information Systems have the ability to amplify strengths into potential sustainable competitive advantage. For example, British Airways implemented customer service online and self checking at the airports. Though the restructuring effected employee morale due to job loss, the company increased in efficiency and cost leadership. Mrs. Kudler is known for her kindness and generosity to employees, so the company will only prosper with new IT applications. Two main approaches of Strategic Information Systems are mostly used:...
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...Cathy Kudler, a successful business woman is running her own business, geographically spread across three different areas; based on fine foods since 1998. Kudler Fine Foods uses MS Access for payroll, revenue clientele, as well as inventory records and documentation. Design Element It is necessary to show the transactions and movements of various items through flow charts or in a similar illustrative way so that it can get its user understood the scheme in no time, but the existing table does not possess this type of quality for accounts receivable sales and payments etcetera. All of this should be in a complete manner that may prove to be a complete manual for the business conduct. Data table on their web site and below Entity Relationship diagram are clearly in support of the process of decision making and pertinent improvement thereto. Based on accounting records the table makes the management up on decision making process. How is the table pertinent to that of accounting records containing the information? Clearly it depicts first off the cost centre namely Department 10 and codifies the items in turn, well sum and quantity direct one on the respective amounts given. Pivot Table also shows total quantity on hand and total amount in a given period Entity Relationship Diagram of Kudler Fine Food Data Table Kudler Database Diagram The above diagram is constructed in such a way that links various items through Variable Characters numbered in...
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...Head: KUDLER STRATEGY Week 6 Kudler Strategy Yong Zhou University of Phoenix/ MBA Program STR/581 Strategic Planning & Implementation Professor Doug Gilbert August 11, 2009 Executive Summary Kathy Kudler is the creator of Kudler Fine Foods. Kathy’s primary goal in establishing KFF was to create a retail store that provides a selection of gourmet foods in order to meet the needs of the typical person all within one store. A wide variety of foods are offered at Kudler Fine Foods. The many different departments include gourmet baked goods, dairy, cheese, wine, organic and non organic produce sections, fresh meats, and seafood. Furthermore, the three different retail locations will offer cooking classes in addition to monthly cheese and wine customer appreciation classes. Some of these services will be expanded into the private residence sector. Adding to their list of offered services, KFF has just added a new catering service in an attempt to attract new customers as well as increasing revenue from their existing customer base. There have been some recent operational changes at Kudler that will be advantageous to the success of their stores. Kudler is able to increase their profitability by using operational strategies such as establishing contracts with local producers of organic produce, creating a purchasing department, and through the use of marketing tools. The right strategies will keep Kudler Fine...
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