You were hired to assist Oman based Company in designing anaccounting system for Oman Co., Ltd. has developed a list of thejournals, ledgers, reports and documents that he thinks OmanCo., Ltd. The company asks you to complete the followingtasks:a) Specify what data you think should be collected on each ofthe following four documents: Sales invoice, purchaseorder, receiving report, employee time card.b) Design a report to manage inventory.e) Design a report to assist in managing credit sales and cashcollections.d) What types of journals, ledgers and blank forms for variousdocuments ( Sales invoices, purchase orders etc)

We will answer only first three subparts of the question as it is not specified which sub part is to…

Answered: You were hired to assist Oman based…

Pkg Acc Infor Systems MS VISIO CD

10th Edition

ISBN:9781133935940

Author:Ulric J. Gelinas

Publisher:Ulric J. Gelinas

Chapter2: Enterprise System

Section: Chapter Questions

Problem 2DQ

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Consider the following short case as you respond to the question:SPC Corporation sells computer security software. They maintain their AIS using general ledger software; data files are backed up twice a day. Sales staff can access the customer database, inventory files and general ledger, as well as sales-related documents such as invoices and sales orders. Newly hired sales staff members at SPC receive the company procedures manual which explains the process used to complete the steps in the sales/collection process. To minimize costs, SPC designates up to five sales staff members each month who can do credit checks for all new customers in addition to processing sales. SPC bills its clients monthly and uses the balance forward method of accounting for receivables; all cash receipts from clients are processed using a lockbox procedure. The lockbox firm's fee is 3% of all collections. SPC's accounting department estimates bad debts at the end of each fiscal year; they are normally…
When aninventory itemfalls to the recorder point, a purchase requisition is automatically generated and printed on the terminal in the purchasing department. The purchasing clerk select suppliers and prepare a purchase order. One copy of the purchase order is sent to the supplier and another copy is sent to the receiving department. The purchasing clerk then adds a record to the open/closed purchase order file through an update program in the data processing department.When the receiving clerk receivesthe delivery from the supplier, the clerkreconciles the items with the packing slip and the purchasing order. After the reconciliation, the receiving clerk prepares a hard-copy receiving report recording the quantity and quality of the goods received. One copy of the receiving report accompaniesthe items to the warehouse and another copy is filed in the receiving department. Using the department terminal, the receiving clerk adds a record to the digital receiving report file. The system…
Paul Williams recently joined XYZ2 Limited as the head of the accounting department. Williams spent the first few weeks analysing the account information system. Based on this analysis, Williams is concerned about the purchase system of XYZ2 Limited. Here are the details of the purchase system. The purchasing agent of XYZ2 Limited periodically checks inventory levels from a computer terminal connected to a central accounting system. The agent searches the inventory file for items that need to be ordered. He then selects a supplier, prints a hard copy of the purchase order, and mails it to the vendor. The clerk files one copy of the PO in the department and sends a second copy to the AP Clerk. When the inventories arrive at the receiving department, a receiving clerk reconciles the items with the packing slip, inspects them for condition, and manually prepares a three-part receiving report. The clerk sends one copy to the purchasing department to close out the open PO, files one copy…
You are internal auditor inspecting process used by sales representatives of a company selling office supplies to small companies. Before a new customer’s line of credit established, the sales rep must complete an online form that contains questions for which they must gather information from the new customer. The company asks that the sales reps gather this data (there is much more required, these are just the first few fields) as the first part of the data gathered: Company name, address, corporate form (sole proprietor, LLC, LLP, or S Corp), line of credit amount requested, authorized purchaser name and address, shipping address. For each of these fields, What error conditions need to be addressed? (What is an error condition?) For each, what do you recommend as a test/verification method? (You may find some that you believe don’t need a verification process)
All of the following can provide source data except ________. A. a scanning device at the grocery store B. a utility bill received in the mail C. a bar code reader D. software to process the source data
You are a trainee in audit firm and you have been assigned to verify the follow balances for IJK Limited; Account receivables Sales Inventories Account payables Vehicles
Paul Williams recently joined XYZ2 Limited as the head of accounting department. Williams spent the first few weeks to analyse the account information system. Based on this analysis, Williams is concerned about the purchase system of XYZ2 Limited. Here is the details of purchase system. The purchasing agent of XYZ2 Limited periodically checks inventory levels from a computer terminal, which is connected to a central accounting system. The agent searches the inventory file for items that need to be ordered. He then selects a supplier, prints a hard copy of the purchase order, and mails it to the vendor. The clerk files one copy of the PO in the department and sends a second copy to the AP Clerk. When the inventories arrive at the receiving department, a receiving clerk reconciles the items with the packing slip, inspects them for condition, and manually prepares a three-part receiving report. The clerk sends one copy to the purchasing department to close out the open PO, files one copy…
Sales executives will negotiate and confirm the selling price and credit term with the customers directly. Once the sales have been confirmed in writing or by telephone, the respective sales executive will direct it to the sales clerk who is available at the point of sales for the creation of two sets of sales order and sales invoice simultaneously. A copy of sales order and sales invoice will be forwarded to administration department for recording purposes. Another set of sales documents will be forwarded to warehouse supervisor for dispatch of goods. Once the goods have been packed, the warehouse assistant will instruct the driver to deliver the goods, together with the invoice to the respective customer. Credit control assistants, Ms. Chan and Ms. Tan in charge of the collection of debts from the customers. They will chase for payments as and when required by directors, James or Tony. Money received from the customers can be cash, cheque or direct debit. Money received in cash or…
All of the following can provide source data except ________.A. a scanning device at the grocery storeB. a utility bill received in the mailC. a bar code readerD. software to process the source data
The Progressive Company is considering taking customers' orders on its Web site. a. What information would Progressive collect from the customer during this process? Be specific. b. What information would need to come from Progressive's Web site and back-end systems to complete the order? c. How would an enterprise system facilitate this type of information? Be specific.
You are the audit senior assigned to the audit of Fix-IT Ltd, a motor vehicle spares company.You obtain an understanding of the warehouse function within the revenue and receipts cycle at Fix-IT Ltd.The warehouse clerk accesses the internal sales order file with all the internal sales orders arranged by order numbers. They will then select the sales order for picking. Identify the type of access that the warehouse clerk should have to the internal sales order file. a. A. Read-only access b. B. Write-only access. C. D. Both write and read access d. C. No access
Which of the following are common use cases for VLOOKUP? (Check all that apply) Check All That Apply Finding a customer's name based on their ID Calculating the total sales of a specific product Looking up a product's price in a price list Retrieving an employee's phone number from a database Returning values from a different sheet in the same workbook.

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