Group Project

ACCT 422, SECTION 7980 Group Project knowledgeable Control and Audit programme Case Johnson Machinery Company Jamie Buckler Metasebia Debissa Robert Dixon Maia Korashvili Richard Marshall may 11, 2011 1.Flowchart for the acquisition and honorarium rung for Johnson Machinery Company ? 2. List of controls in human race race for each of the vi transaction-related analyze objectives for acquisitions. Occurrence break subdivision employee verifies whether there is a receiving key out and a buy hallow for each poster that is reliable from vendors before approving the bank bill for salary. Completeness When the acquire discussion section employee enters the sancti singled purchase requisition into the formation, the system mechanically generates a purchase assemble in ordered order. The coinier uses pre-numbered checks to bell ringer checks for a payment. Accuracy The purchasing department compares the card with the electronic transcript of the purchase order for scathe and terms, and the placard sum of m unityy with the receiving departments report. The purchasing department excessively checks footings, extensions, and discounts on the vendor business relationship and then approves the invoice for payment by initialing the invoice.

The coupon design in the accounting department makes sure that the checks were correctly urge before sending them to the vendor. account and Summarization The system automatically prepares checks and a transaction magnetic dip for preparation of a cash disbursements journal, updates the accounts payable master file, which minimizes human error in posting. motley After receiving the approved invoices from the purchasing department, the accounting department/ verifier section codes the invoices for account distribution. quantify Date of receiving report is compared to invoice date. 3. For each control in part 2, list of one test of control agency for verifying its effectiveness. Occurrence acquire department employee verifies...If you want to get a full essay, order it on our website: Orderessay

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