Chic Paints Aat

Chic Paints Ltd Accounting System
An evaluation on the Accounting system for Chic Paints Ltd
An ethical evaluation on Chic Paints Ltd Accounting system
A Sustainability evaluation of Chic Paints accounting system
Weaknesses and recommendations for Chic Paints accounting system

Total word Count:
Full Name: Tyler David Walter
AAT number: 20096828
Submission Date:

Executive summary
Terms of reference
Chic Paints Ltd is a company that used the be part of Ashstead Plc, but was then subject to a Management Buyout in 2007.This buyout was done by 5 directors, Greg Pearce, Jane Yip, Ruth Jones, Ahmed Khan and Susan Mather, all these directors had managed CPL for many years and had extensive knowledge in the paint market. CPL was in the general household paints sector but the new owners recognised the low profit margins in this sector and moved CPL to specialised sector, this is paints for boats, cars and industrial machinery.
The key shareholders at the moment are:
  * Greg Pearce- Managing Director- 25% Shareholder
  * Dave Whistler- Finance Director- 25% Shareholder
  * Ruth Jones- Sales Director- 20% Shareholder
  * Ahmed Khan- Production Director- 15% Shareholder
  * Susan Mathers- HRM Director- 15% Shareholder
Dave Whistler joined CPL six months ago replacing Jane Yip who left the company. Ruth and Ahmed are both looking to sell their shares and extensive research has led to two possible replacements.
CPL has a turnover of 120 million and a gross profit margin of around 30%, Net assets are over 25 million and the work force is currently 350 employees.
Due to CPL changing the sector of business in which they will operate, this has caused the need to employ highly trained workers, thus in return meaning that their salaries are higher.
CPL used to have around 100 suppliers, this was due to CPL trying to get the lowest price for the materials they needed, and they let all the suppliers bid against...