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    Your clients incorporated Speciality Shoes Pty Ltd in 2005. Melanie, Matthew, Jonathon and Patrick are the directors of Speciality Shoes Pty Ltd which manufactures ladies shoes.

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    Your clients incorporated Speciality Shoes Pty Ltd in 2005. Melanie, Matthew, Jonathon and Patrick are the directors of Speciality Shoes Pty Ltd which manufactures ladies shoes. Melanie is the manager of manufacturing and Patrick is the managing director of the company and has been running the day-to-day operations of the company for the last 6 years. The company has a constitution with an objects clause and also uses RR’s. 1.Objects Clause ‘Speciality Shoes Pty Ltd can only manufacture ladies shoes.’ 2.‘All contracts over $250,000 require approval and signatur...

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    This is a case of a shoes manufacturing company having four directors named Melanie, Matthew, Jonathon and Patrick. The company has her constitution with two main objects clauses mentioned below.

    • Speciality Shoes Pvt. Ltd. can only manufacture ladies shoes.
    • All contracts over $250,000 require approval and signature of the managing director.

    Melanie, who is the manager of manufacturing, finds a machine which can increase productivity of manufacturing by 20%. Moreover, the machine can manufacture men’s shoes also with slight adjustments. The cost of machine is $5, 00,000. Melanie finds an opportunity of improvement in production with this machine and signs contract of purchase of it on behalf of the company.

    Thus, he violates the second clause which states that any contract above $2,50,000 requires approval of the managing director i.e. Patrick. Patrick believes that the company can't afford this purchase at this period of time and he is also aware that the clause of company also mentions manufacturing of ladies shoes only

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

    This report aimed to develop a critical understating of the various accounting software by evaluating the cloud-based accounting software in regards to businesses and then suggest the most appropriate accounting software to a chosen company such as Woolworth. The findings of the current report reflected that the company has key activities like manage, organize, maintain its store staff, develop various strategies for the business, billing for their products, maintain their transactions, and records them and handle their conflicts, etc. Similarly, its other activities related to revenue and expenditure cycle also includes sales and purchase related practices. Moreover, some internal controls are found weak in Woolworth due to which company has risks like segregation of duties, major frauds, poor corporate governance, improper monitoring of managerial opportunistic behavior.

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