How would I do this? You have been hired as the new controller for Acme Business Products. You discover that there are no formal procedures in place for processing cash receipts from customers. Your staff consists of the following: you, one general ledger accountant, one accounts receivable staff, one accounts payable staff, and one administrative assistant. Compose your responses to the following in the form of a narrative: A. Develop a step-by-step process for the intake, deposit, recording, and reconciling of cash payments received from customers. Be sure to defend your rationale for each step of your process. B. Provide recommendations as to who in your office should perform which process tasks. Why are these the most appropriate assignments? a) Predict the impact that would take place if one of your staff left and another were on leave. Recommend temporary adjustments to the process that would be necessary if this took place.
How would I do this?
You have been hired as the new controller for Acme Business Products. You discover that there are no formal procedures in place for processing cash receipts
from customers. Your staff consists of the following: you, one general ledger accountant, one accounts receivable staff, one accounts payable staff, and one
administrative assistant. Compose your responses to the following in the form of a narrative:
A. Develop a step-by-step process for the intake, deposit, recording, and reconciling of cash payments received from customers. Be sure to defend
your rationale for each step of your process.
B. Provide recommendations as to who in your office should perform which process tasks. Why are these the most appropriate assignments?
a) Predict the impact that would take place if one of your staff left and another were on leave. Recommend temporary adjustments to the process
that would be necessary if this took place.
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