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Business Evaluation checkList:Operations, Products & Services
Operations
Security
- Has all valuable equipment been identified with special markings?
- Have insurance policies been checked to ensure that they provide proper coverage?
Records and Record-Keeping
- Are specific policies in writing to indicate what records must be kept by law and for how long?
- Are all files clearly marked to avoid confusion?
- Is the filing system streamlined--free of unnecessary duplicate copies, documents, etc.?
Computer Systems
- Is the current system satisfactory?
- Has consideration been made to: record retention, daily procedures, off site backup, and security?
- Are procedures in place to ensure that information cannot be entered twice or overlooked completely?
Computer Security
- Are negotiable unused accounting forms (i.e., blank checks) stored in a locked cabinet?
- Are files and disks locked up when not in use?
Employee Theft
- Do inventory controls ensure that employees can not take supplies?
- Has a sound system of controls, especially internal audit, been established?
Products and Services
Inventory and Stock Control
- Are all delivered goods inspected, counted or weighed, and recorded?
- Are procedures in place for checking invoice terms, prices quantities, math, surcharges, and discounts?
Pricing and Costing
- Has a break-even point been established for products sold at various prices?
- Are competitors' prices carefully monitored?
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