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- Creators: Dean, W.P. Carey School of Business
Description
Within this paper I summarize the key features, and results, of research conducted to support the development, design, and implementation of an internal control system at a startup small business. These efforts were conducted for an Honors Thesis/Creative Project for Barrett, the Honors College at Arizona State University. The research revolved around deciding which financial policies, procedures, and safeguards could be useful in creating an internal control system for small businesses. In addition to academic research, I developed an “Internal Control Questionnaire” for use as a ‘jumping off point’ in conversations about a business’ existing accounting system. This questionnaire is applicable across many industries, covering the major topics which every small business/startup should consider.
The questionnaire was then used in conjunction with two interviews of small business owners. The interviews covered both the overall financial status of their business and their business’ pre-existing accounting system. The feedback received during these interviews was subsequently used to provide the business owners with eleven recommendations ranging from the implementation of new policies to verification of existing internal controls.
Finally, I summarize my findings, both academic and real-world, conveying that many small business owners do not implement formal internal control systems. I also discuss why the business owners, in this specific circumstance, did not yet implement the aforementioned eleven suggestions.
The questionnaire was then used in conjunction with two interviews of small business owners. The interviews covered both the overall financial status of their business and their business’ pre-existing accounting system. The feedback received during these interviews was subsequently used to provide the business owners with eleven recommendations ranging from the implementation of new policies to verification of existing internal controls.
Finally, I summarize my findings, both academic and real-world, conveying that many small business owners do not implement formal internal control systems. I also discuss why the business owners, in this specific circumstance, did not yet implement the aforementioned eleven suggestions.
ContributorsDuncan, Spencer James (Author) / Garverick, Michael (Thesis director) / Casas Arce, Pablo (Committee member) / School of Accountancy (Contributor) / School of International Letters and Cultures (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
Description
This thesis looks at three different inventory management strategies that can be implemented into a small business. Using GameSet Style as a research subject, this study analyzes current practices and problems that can be fixed when dealing with an excess amount of inventory. The three inventory management strategies that are compared are demand forecasting, inventory management software, and ABC analysis. Inventory can be a small business's highest cost if not managed effectively. The goal for this thesis is to find the best obtainable solution for a small business like GameSet that can be implemented into their business strategy.
ContributorsPatterson, Alexandra Mercedes (Author) / Byrne, Jared (Thesis director) / Kahley, Lisa (Committee member) / Dean, W.P. Carey School of Business (Contributor) / Department of Finance (Contributor) / Department of Supply Chain Management (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
Description
This thesis serves to research and catalog the process of small business formation and many of the important resources and factors that may be involved when an entrepreneur seeks to start a business. The overall goal here is that any individual who desires to form their own business can do so entirely with the information in this thesis, or sources included in this thesis. The paper breaks down this information into chapters of finance, registration, tax, legal, and marketing to best assist the early aspects of the business. Additionally, this paper tracks the costs associated with starting a small business to give the reader the necessary financial information of small business formation. This thesis estimates the required costs to be approximately fourteen hundred dollars, with an expected amount to be higher for all other costs associated with the business.
ContributorsCouture, John (Author) / Williams, Glenn (Thesis director) / Ramirez De La Vina, Patricia (Committee member) / Barrett, The Honors College (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Department of Finance (Contributor) / Department of Economics (Contributor)
Created2022-05