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please can ypu help me MYSTERY OF DISAPPEARING OIL. Spetrol was set up in 1998. The day-to-day running of the petrol station, however, was left
please can ypu help me
MYSTERY OF DISAPPEARING OIL. Spetrol was set up in 1998. The day-to-day running of the petrol station, however, was left to Jamel, the owner's nephew. Initially, the business was doing reasonably well. This was further helped by the fact that the petrol station was located along a major highway in northem Selangor and in the middle of a busy area, with high traffic volume. However, of late, business was on the decline in terms of sales and the services provided, primarily attributed to the emergence of the two other petrol stations at the same location. But further investigation dissembling various mysteries. Required: a) i. Explain any TWO (2) importance of financial statement. ii. Identify any TWO (2) weaknesses in preparation of financial statement in Spetrol. b) Assume you are Fund, propose at least TWO (2) recommendations for improvement to the management regarding the following issues: i. Increase in cost of sales ii. Absents of a proper accounting system iii. Inventory management system iv. Internal control e) Assuming that the owners decide not to let go of the business. Discuss at least TWO (2) action plans to turn around the business in terms of i. Marketing and promotions in Finance iii. Human resource d) As the owner of the business, propose at least TWO (2) practical control in terms of: i. people in action Step by Step Solution
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