You are recently employed as a business analyst at Bell Studio, an Adelaide-based wholesaler of art supplies. Bell Studio sources its inventories from manufacturers in Australia, China, Japan and New Zealand. The company has a centralised accounting system with networked terminals at different locations. Bell Studio’s expenditure cycle procedures are described as follow:
The process begins when the purchasing clerk checks the inventory subsidiary ledger at his/her computer terminal each morning. When the quantity of an item is deemed to be too low, the clerk selects a vendor from the valid vendor file and prepares a digital purchase order. The clerk prints two hard copies: one copy is sent to the vendor, and the other is filed in the purchasing department. Digital purchase order record is added to the purchase order file.
When the goods arrive in the receiving department, the receiving clerk inspects them and reconciles the items against the information in the digital purchase order and the packing slip. The clerk then manually prepares two hard copies of the receiving reports. One of these accompanies the goods to the inventory warehouse, where the clerks shelves the goods and updates the inventory subsidiary ledger from his/her computer terminal. The clerk then files the receiving report in the department. The other copy of the receiving report is sent to the accounts payable department, where the accounts payable clerk files it until the supplier’s invoice arrives. When the accounts payable clerk receives the invoice he pull the receiving report from the temporary file, prints a hard copy of the digital purchase order, and reconciles the three documents. At this time, the clerk updates the digital accounts payable subsidiary ledger, the accounts payable control account and the inventory control account in the general ledger from his terminal. The clerk then sends the invoice, receiving report, and the purchase order copy to the cash disbursement department.
Cash Disbursements System
Upon the receipt of the documents from the accounts payable department, the cash disbursements clerk files the documents until their payment due date. On the due date, the clerk prepares a cheque for the invoiced account, when is sent to the treasurer who sign it and mail the cheque to the vendor.
The cash disbursements clerk then updates the cheque register, accounts payable subsidiary ledger, and the accounts payable control account from his/her computer terminal. Finally, the receiving clerk files the invoice, purchase order copy, receiving report, and cheque copy in the department.
Bell Studio’s employees record their hours worked on time cards every day. Their supervisors review the time cards for correctness and submit them to the payroll department at the end of each week. Using a computer terminal connected to the central payroll system, which is located in the data processing department, the payroll clerk inputs the time card data, prints hard copies of the pay cheques, print two copies of the payroll register, and posts to digital employee records. The payroll clerk files the time cards in the payroll department and sends the employee pay cheques to the various supervisors for review and distribution to their respective department employees. The payroll clerk then sends one copy of the payroll register to the accounts payable department, and files the other with the time cards in the payroll department. Page 3 of 5 HI5019 Strategic Information Systems for Business and Enterprise Individual Assignment
The accounts payable clerk reviews the payroll register and manually prepares a disbursement voucher. The clerk sends the voucher and the payroll register to the general ledger department. The accounts payable clerk then writes a cheque for the entire payroll and deposits it in the imprest account at the bank. Finally the clerk files a copy of the cheque in the accounts payable department.
Once the general ledger clerk receives the voucher and payroll register, the clerk posts to the general ledger from the department computer terminal and files the voucher and payroll register in the department.
Prepare a report to Chief Operating Officer to evaluate the processes, risks and internal controls for its expenditure cycle. In your report, you need to include the following items: Data flow diagram of purchases and cash disbursements systems
· Data flow diagram of payroll system
· System flowchart of purchases system
· System flowchart of cash disbursements system
· System flowchart of payroll system
· Description of internal control weakness in each system and risks associated with the
· identified weakness
The report should include the following components: Assignment cover page clearly stating your name and student number
· A table of contents, executive summary
· A brief introduction or overview of what the report is about.
· Body of the report with sections to answer the above issues and with appropriate section headings
· List of references
The report should be grounded on relevant literature and all references must be properly cited and included in the reference list. Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using Harvard referencing style.
project management assignment help, business management assignment help, business management assignment, management assignment help services, strategic management assignment help, management accounting assignment , management homework help, marketing management assignment help, human resource assignment help, human resource management assignment help, managerial accounting assignment help, management accounting assignment help, financial management assignment help, it management assignment help, project management homework help, hospitality management assignment help, hr management assignment help, operations management homework help, brand management assignment help, database management homework help, financial management homework help, operations assignment help, healthcare management assignment help, write my project management assignment,
Holding a PhD degree in Finance, Dr. John Adams is experienced in assisting students who are in dire need...
55 - Completed Orders
Canada, Toronto I have acquired my degree from Campion College at the University of Regina Occuption/Desi...
52 - Completed Orders
Even since I was a student in Italy I had a passion for languages, in fact I love teaching Italian, and I...
102 - Completed Orders
To work with an organization where I can optimally utilize my knowledge and skills for meeting challenges...
109 - Completed Orders
JOB OBJECTIVE Seeking entry level assignments in Marketing & Business Development with an organization...
202 - Completed Orders
Current work profile Project manager- The Researchers Hub (2nd Jan 2016 to presently working) Researc...
20 - Completed Orders
Sales Assistant, Mito Marina Assigned to the Stationery dept – assisted in merchandising, stock taking...
100 - Completed Orders
Personal Profile Dedicated and highly experienced private chauffeur. High energy, hardworking, punctua...
200 - Completed Orders
I'm Lizzy, full time education specialist in English, Essay Writing, Economics and Maths. Having Assi...
109 - Completed Orders