Question

In: Accounting

Mr. Imtihaz is experienced store keeper in Al Falah Civil Engineering LLC. He is responsible for...

Mr. Imtihaz is experienced store keeper in Al Falah Civil Engineering LLC. He is responsible for purchase of required material for constructions. According to you what should be his basic responsibilities for maintaining the record of purchases of construction material.

You are required to write 5 responsibilities of Mr. Imtihaz regarding the purchase ledger, supplier details, material details etc.

Solutions

Expert Solution

My point of view on mr. Imtihaz responsibilities for maintaining the record of purchases of construction material are following

1st check construction work

​​​​​​It means that checking what is the size of a construction work. How much time it take and how much quantity require. Checking is very important part because which accounting mathord and how to record the data.are depend on size

2nd planning

​​​​​This responsibility is also a very important part. Because construction side have lots of data which data is useful or not. That are decided in planing first.

3rd systematically

All the data which are useful for company record on a systematically. He can use FIFO/LIFO or anything else as per construction site demand.

4th. For purchase material..

Take all the invoice(bill) which provide details of material and attach tham.

5th auditing all the transection

Imtiaz can audit all the previous record. That help him to record in batter manner.


Related Solutions

Mr. Imtihaz is experienced store keeper in Al Falah Civil Engineering LLC. He is responsible for...
Mr. Imtihaz is experienced store keeper in Al Falah Civil Engineering LLC. He is responsible for purchase of required material for constructions. According to you what should be his basic responsibilities for maintaining the record of purchases of construction material. You are required to write 5 responsibilities of Mr. Imtihaz regarding the purchase ledger, supplier details, material details etc
Mr. Hussein is the Marketing Manager of Synergy Trading LLC. He is responsible to coordinate and...
Mr. Hussein is the Marketing Manager of Synergy Trading LLC. He is responsible to coordinate and communicate with Sales, Advertising, Production, Packaging and Logistics teams to meet customers’ orders as well to maximize sales. Also, he needs to plan, communicate and monitor the work of the above-mentioned teams for achieving the company’ marketing goals and objectives. Mr. Hussein always communicates with Production and Sales teams. But he did not communicate the company’s new products or services to the Advertisement team....
Al Barari Engineering LLC management have realized the importance of accurate costing and recruited Abdul as...
Al Barari Engineering LLC management have realized the importance of accurate costing and recruited Abdul as their Management Accountant at the beginning of their budgetary cycle. Instructions Please help Abdul to reply to the following issues raised by management (5 marks each. Total 15 marks) Two mutually independent capital investments have same NPV. What should they select? There is lot of work involved in separately recording fixed and variable costs. Why is Abdul requesting the company to do all this...
Joe is a manager in a drug store and he is responsible for setting prices of...
Joe is a manager in a drug store and he is responsible for setting prices of batteries. He knows the price elasticities of the top 2 brands – Energizer and Duracell – from previous research. They are shown in the table below, in which the column represents the brand with price change. For instance, the number on the top right is the cross price elasticity of the demand for Energizer with respect to the price of Duracell. Price change Energizer...
What could be a possible problem Mr Omar Al Balushi face if he goes ahead with...
What could be a possible problem Mr Omar Al Balushi face if he goes ahead with his decision on recruiting a marketing manager in management t am? Does he have any other option if the management refuses to recruit a marketing manager so to bring the change in company philosophy and behaviour toward marketing? Omar Al Balushi, the senior executive of ACT Technology Company, was saying to himself, "One more year has gone without making a good profit and if...
Mr Sultan al Hadrami is planning to construct his own house. He is planning to construct...
Mr Sultan al Hadrami is planning to construct his own house. He is planning to construct the house in a phased manner. At present he is working with Oman Air and is earning salary RO 12000 every year . The Cost of Construction of the house is RO 50,000 if the construction is completed in one year. However if the construction is done in parts, the cost of contrition will increase and may go up to 60000 if completed in...
Mr. A formed LLC, he has Account Receivable worth $50,000 for tax preparation fees, and an...
Mr. A formed LLC, he has Account Receivable worth $50,000 for tax preparation fees, and an interest in a real estate partnership used as collateral for a loan from Bank, The fair market value of the real estate partnership interest is $500,000 and the loan is for $200,000. 1. What is the basis of the LLC? Is it $250,000? 2. If his son works in this LLC and gets 50% of the shareholder interest, Is it the basis for his...
Mr. Khalid, has completed his engineering degree last year and he is planning to start a...
Mr. Khalid, has completed his engineering degree last year and he is planning to start a business. His idea is to produce and sell office furniture to clients. But, he has some concern regarding the supply of this product. As an economics student, explain him about the various factors that affect the supply of his product. In your explanation, include ten most important factors affecting supply. [Answer in 300 – 400 words] pls your own words and without copying from...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT