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Assignment Question(s):
Question 1:
What are the activities of sales order entry? Give four of the threats that may face and what could
be the possible controls for those threats?
Answer:
Question 2:
What are the advantages of the REA data model over the traditional AIS model?
Answer:
Question 3:
Under the payroll system of an organization we find several components such as HRM
Department, Employees, Bank, Government Agencies, Insurance and other companies, Various
other departments. Take an example of an organization and explain the relationship of these
components with reference to Payroll System of that organization
Answer:
Question 4:
Shahid Corporation is a midsize, privately owned, industrial instrument manufacturer supplying
precision equipment to manufacturers in the Midwest. The corporation is 10 years old and
uses an integrated ERP system. The administrative offices are located in a downtown
building and the production, shipping, and receiving departments are housed in a renovated
warehouse a few blocks away.
Customers place orders on the company’s website, by fax, or by telephone. All sales are on
credit, FOB destination. During the past year sales have increased dramatically, but 15%
of credit sales have had to written off as uncollectible, including several large online orders
to first-time customers who denied ordering or receiving the merchandise.
Customer orders are picked and sent to the warehouse, where they are placed near the
loading dock in alphabetical sequence by customer name. The loading dock is used both
for outgoing shipments to customers and to receive incoming deliveries. There are ten to
twenty incoming deliveries every day, from a variety of sources.
The increased volume of sales has resulted in a number of errors in which customers were
sent the wrong items. There have also been some delays in shipping because items that
supposedly were in stock could not be found in the warehouse. Although a perpetual
inventory is maintained, there has not been a physical count of inventory for two years.
When an item is missing, the warehouse staff writes the information down in log book.
Once a week, the warehouse staff uses the log book to update the inventory records.
The system is configured to prepare the sales invoice only after shipping employees enter
the actual quantities sent to a customer, thereby ensuring that customers are billed only for
items actually sent and not for anything on back order.
Questions:
a. Identify at least three weaknesses in Shahid Corporation’s revenue cycle activities.
b. Describe the problem resulting from each weakness.
c. Recommend control procedures that should be added to the system to correct the weakness.
Answer:
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