Internal Controls Essay
The Company that held the most appeal and most overall steady growth of success was Amazon. com Inc. This company has had losses recently, but overall it has held firm among its management and profitability. The annual report for Amazon in the e-campus library showed phenomenal coverage for over the last fifteen years of reporting financials. In 2013, it has been ranked number 49 and the reason behind it is the technology factors of creating the Kindle Fire, which sold tremendously. The company’s earnings in 2013 has been in the billions. In 2012, the company made over $61 billion.
That was a 27% increase due to the technology software that the smaller Kindle Fire introduced. Prime Instant Video Selection among Amazon which originated in 1998 has been steady with its growth. Now, as the Prime Video Selection makes its way into the spotlight within amazon. com for consumers, the results or profits are estimated to be outrageous for the company. Amazon. com not only has a company in the United States, but as well internationally. Electronic technology has allowed Amazon. com to start out as a small company and skyrocket and become a leading seller and company in America today.
Digital media has expanded over 23 million people in television, books, and magazines. The company is doing exceptionally well. The company has over 88, 400 full time employees and shareholder numbers are at 3,075. ( University Library, Phoenix University XACC/210 May 29,2013 ) The company is an electronic shopping catalog type of business and its Internal Controls extend from management to data entry sophistication. I would think that since the website doesn’t give a precise use of how internal controls are conducted I would have to go with Enterprise Risk Management.
This Internal Control is a type of software that links accounting and administrated functions into a total record keeping and reporting system that can be overlooked by management as well as the board of directors in that company. Often the board of directors, whose duty it is to oversee the ethical and commercial operations of a company and set policy, will access the ERM through their own intranet that allows them a secure online venue where they can review the company’s books and operations, upload their own documents, make notes and discuss the company in private.
Securities and Exchange Commission: Management’s Report on Internal Control Over Financial Reporting and Certification of Disclosure in Exchange Act Periodic Reports) Overall I think that Amazon has good management internal controls pertaining to the type of business that it is. There are quite a few of employees, so management within this type of internal control can establish good reliability.
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