Accounting Information Systems
11th Edition
ISBN: 9781337552127
Author: Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill
Publisher: Cengage Learning
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Textbook Question
Chapter 13, Problem 4RQ
What are the fundamental responsibilities of the accounts payable department and the cashier?
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Why should the person in charge of cash receipts not also be in charge of keeping accounts receivable records? Explain.
Why should cash receipts and sales to credit clients be documented and reported immediately?
An audit program relates to the cash, sales and receivables cycles and accounts.
Discuss audit procedures for the audit of accounts receivable. How does this apply to your chosen organization?
Chapter 13 Solutions
Accounting Information Systems
Ch. 13 - Prob. 1RQCh. 13 - What primary functions does the AP/CD process...Ch. 13 - Prob. 3RQCh. 13 - What are the fundamental responsibilities of the...Ch. 13 - Prob. 5RQCh. 13 - Prob. 6RQCh. 13 - Prob. 7RQCh. 13 - Prob. 8RQCh. 13 - How does EDI improve the effectiveness and...Ch. 13 - What is EIPP? How does it improve the efficiency...
Ch. 13 - What are the two operations process...Ch. 13 - Prob. 12RQCh. 13 - Prob. 13RQCh. 13 - Prob. 14RQCh. 13 - Prob. 1DQCh. 13 - This chapter discusses both fraud and...Ch. 13 - Prob. 3DQCh. 13 - Prob. 4DQCh. 13 - Prob. 5DQCh. 13 - Prob. 6DQCh. 13 - Prob. 1SPCh. 13 - Prob. 2SPCh. 13 - Prob. 3SPCh. 13 - Prob. 4SPCh. 13 - Prob. 5SPCh. 13 - Prob. 6SPCh. 13 - Prob. 4PCh. 13 - Our narrative and DFDs are created assuming that...Ch. 13 - Prob. 6PCh. 13 - Prob. 7P
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- What steps are followed in posting cash receipts from the general journal to the accounts receivable ledger?arrow_forwardWhat are some indicators that a company is doing an effective job at managing accounts receivable?arrow_forwardDefine what is meant by internal control and describe some key elements of an internal control system for cash receipts and disbursements.arrow_forward
- Define the following concepts? a. Petty cash funds. b. Escrow payment. c. Chart of accounts.arrow_forwardIdentify and explain the procedures that are important to the examination of bank’s accounts.arrow_forwardWhich one of the following documents is used in the control of cash receipts?a. Purchase requisitionsb. Receiving reportsc. Canceled checks from customersd. Bank deposit slipsarrow_forward
- As part of a strong internal control system, which of the following accounting duties needsto be separated from cash handling?a. Record keepingb. Filingc. Transaction approvald. Both a and c need to be separated from cash handling.arrow_forwardThink about internal control over receivables collections. What task must be delegated to a company's credit department in order to protect its cash? What can a credit department employee do to harm the organization if this task is performed by the credit department?arrow_forward6) Examine the cash receipts journal in the accounting system and compare the amounts received to the corresponding amounts invoiced in the revenue accounting system and to the bank statement evidencing the deposit. This is an example of which of the following? A) audit objective B) audit assertion C) audit procedure D) audit programarrow_forward
- How might clustering be used to describe customers who owe money (accounts receivable)?arrow_forwardWhich of the following is most likely to be a general ledger control account? Select one: O a. Prepaid Rent O b. Petty Cash O c. Owners Equity O d. Sundry Debtorsarrow_forwardWhat are your takeaways from the audit of receivables? How crucial is the role of receivables to the company? Do you have experience in auditing or handing receivables in your respective personal matters, business, or employment?arrow_forward
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