Pkg Acc Infor Systems MS VISIO CD
10th Edition
ISBN: 9781133935940
Author: Ulric J. Gelinas
Publisher: CENGAGE L
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Question
Chapter 8, Problem 1SP
1)
Summary Introduction
To determine: The control plan for the given control situation.
Introduction:
2)
Summary Introduction
To determine: The control plan for the given control situation.
3)
Summary Introduction
To determine: The control plan for the given control situation.
4)
Summary Introduction
To determine: The control plan for the given control situation.
5)
Summary Introduction
To determine: The control plan for the given control situation.
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Students have asked these similar questions
Consider the following list of internal controls.
For each control classify it either as a preventive control or a detective control. Also classify each control as either a manual control, an
IT dependent manual control, at IT application control, or a IT general control.
a.
b.
C.
d.
e.
Software will not allow a sale to be processed to a
customer that has exceeded its credit limit.
Personnel responsible for running computer programs
are prevented from accessing and changing computer
software.
Computer software generates a daily report of all
shipping documents (bills of lading) that have not
resulted in a sales invoice.
An accounting clerk follows-up on a computer-generated
report of all shipping documents (bills of lading) that have
not resulted in a sales invoice, to determine if an invoice
should be generated.
An accounting employee performs a monthly bank
reconciliation.
The following is a list of six control plans (A-F). Please match the control plans to
each of the control goals and system deficiencies identified in five different
companies in the table, below.
Control plans:
A. Digital signature
B. Manually reconcile batch totals
C. Preformatted screens
D. One-for-one checking of the goods, picking tickets and sales order
E. Independent shipping authorization
F. Turn around document
Control goals and system deficiencies:
1. Zagreb, Inc. receives sales order on its Web server. Several times each day these
are downloaded to the order entry and sales system. During the download
process several line items are lost.
2. When goods arrive at Toronto Company's warehouse, the shipping clerk keys in
the sales order number to retrieve the sales order. Often, the clerk keys the sales
order number incorrectly and the wrong sales order is displayed.
3. Central Incorporated's customer send orders over the internet. Central is
concerned that some of the orders are…
Determine whether each procedure described below is an internal control strength or weakness; then identify the internal control principle violated or followed for each procedure. 1. The same employee requests, records, and makes payment for purchases of inventory. 2. The company saves money by having employees involved in operations perform the only review of internal controls. 3. Time is saved by not updating records for use of supplies. 4. The recordkeeper is not allowed to write checks or initiate EFTs. 5. Each salesclerk is in charge of her own cash drawer.
Chapter 8 Solutions
Pkg Acc Infor Systems MS VISIO CD
Ch. 8 - What are the four major categories of pervasive...Ch. 8 - What are the differences among a pervasive control...Ch. 8 - Prob. 3RQCh. 8 - Describe some compensating controls that can be...Ch. 8 - What are policy controls plans? How do policies...Ch. 8 - Why should an organization conduct monitoring...Ch. 8 - Prob. 8RQCh. 8 - Prob. 14RQCh. 8 - What are the major elements of the strategic IT...Ch. 8 - Prob. 16RQ
Ch. 8 - Prob. 17RQCh. 8 - Prob. 18RQCh. 8 - What are the four stages through which a program...Ch. 8 - What steps are commonly included in a business...Ch. 8 - Prob. 21RQCh. 8 - Prob. 22RQCh. 8 - Prob. 23RQCh. 8 - Prob. 24RQCh. 8 - Prob. 25RQCh. 8 - Prob. 26RQCh. 8 - Prob. 27RQCh. 8 - Prob. 28RQCh. 8 - Prob. 30RQCh. 8 - Prob. 31RQCh. 8 - Prob. 32RQCh. 8 - Prob. 33RQCh. 8 - Prob. 1DQCh. 8 - Prob. 2DQCh. 8 - No matter how sophisticated a system of internal...Ch. 8 - Prob. 4DQCh. 8 - Prob. 5DQCh. 8 - Prob. 8DQCh. 8 - Prob. 9DQCh. 8 - Contracting for a hot site is too cost-prohibitive...Ch. 8 - Prob. 11DQCh. 8 - Prob. 12DQCh. 8 - Prob. 13DQCh. 8 - Prob. 1SPCh. 8 - Prob. 2SPCh. 8 - Prob. 3SPCh. 8 - Listed here are 20 control plans discussed in the...Ch. 8 - Prob. 3PCh. 8 - Prob. 4PCh. 8 - Prob. 5PCh. 8 - Prob. 7P
Knowledge Booster
Similar questions
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- which, if any of the following situations represents improper segregation of functions? Explain your answer. a. the billing department prepares the customers' invoices and records the sale in the sales journal b. The mailroom clerk opens a cash receipt envelopes from customers and also prepared the remittance risk c. Accounting clerk receives journal vouchers from various departments and also posts to the GL accounts d. The sales department approves sales credit memos as the result of product returns and forwards these to the AR department, which adjusts the customer accounts to reflect the return.arrow_forwardWhich preventive, detective, and/or corrective controls would best mitigate the following threat, and why? (d) An employee received an email purporting to be from her boss informing her of an important new attendance policy. When she clicked on a link embedded in the email to view the new policy, she infected her laptop.arrow_forwardThe computer processing portion of a sales order system is represented by the flowchart. Answer the following questions.a. What type of data processing system is this? Explain, and be specific.b. The auditor suggests that this system can be greatly simplified by changing to direct access files. Explain the major operational changes that would occur in the system if this were done.c. The auditor warns of control implications from this change that must be considered. Explain the nature of the control implications.d. Sketch a flowchart (the computerized portion only) of the proposed new system. Use correct symbols and label the diagram.arrow_forward
- For the given scenario, identify the weakness or weaknesses in internal control and opposite the identified weakness or weaknesses, enumerate the control procedure/s that you will recommend to avoid or mitigate the risk of loss: A small branch of Avon Cosmetics in Tuao, Cagayan employs Amelia Rodriguez as Branch Manager and Mary Gonzales as her sales assistant. The Branch uses a bank account in Tuao, Cagayan to pay for expenses in the name of Avon Cosmetics - Special Account. To pay expenses, checks must be signed by Amelia Rodriguez or John Dee, the treasurer of Avon Cosmetics. Amelia receives the cancelled checks and bank statements. she reconciles the branch account herself and files cancelled checks and bank statements in her records. She also periodically prepares reports of cash disbursements and sends them to thehome office in Makati.arrow_forwardA company is trying to set up proper internal controls for their accounts payable/inventory purchasing system. Currently the purchase order is generated by the same person who receives the inventory. Together the purchase order and the receiving ticket are sent to accounts payable for payment. What changes would you make to improve the internal control structure? Group of answer choices 1.The person in accounts payable should generate the purchase order. 2.The person in accounts payable should generate the receiving ticket once the invoice from the supplier is received. 3.No changes would be made since the person paying the bills is different from the person ordering the inventory. 4.The responsibilities of generating the purchase order and receiving the inventory should be separated among two different people.arrow_forwardIn the evaluation of sales transaction processing and control design in the following information:(a)identify two or three potential weaknesses. breifly explain the potential mistatement, recommended correction and possible weakness of all two or three potential weaknesses identified. ORDER APPROVAL In Marco Appliance Inc., Every few minutes (immediately if things are slow), one of the salesclerks hand-carries the pending requisitions to Dakota Amalia, the controller. The secretary presents them to Ms. Amalia who approves them either immediately, based on first-hand knowledge of the customer's credit record, or after reviewing the customer's account record on her PC. Ms. Amalia initials the requisition to indicate approval of the sale and enters an approval for the requisition in the accounting system. When Ms. Amalia enters her approval code, the system creates and prints three copies of a sales order form; assigns a sequential number to it; and moves the sales order record in the…arrow_forward
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