Refer to effectiveness goals A and B shown in the control matrix in Figure. For each activity
Question:
Transcribed Image Text:
Control Goals of the AP/CD Business Process Control Goals of the Operations Process Control Goals of the Infomnation Process Ensure effident Ensure security of resources (cash, accounts payable master data) employment of resources For vendor For payment For accounts data, ensure: UC effectiveness of operations master payable master computers) ensure data, ensure ersure Recommended Control PlarsS Present Controls P-1: Independent validation IC IA UC IC IA UA P-1 of vendor invoices P-2: Match invoice, purchase P-2 P-2 P-2 order, and receiving report P-3: Tickler file of payments P-3 P-3 P-3 P-4: Independent authorizabon to make payment P-4 P-5: Agreement of run-toun totals (reconcile input-outbut batch totals) P-5 P-5 P-6: Digital signatures P-6 P-6 P-6 P-6 Missing Controls M-1 Tickler fle of open purchase orders and receiving M-1 M-1 M-2 M-2 M-2: Agreement of run-to-run totas (reconcile input-output batch totals) M-2 M-2 M3: Cash planning report M-3 M-4: Recondle bank account М-4 М-4 М-4 Possible effectiveness goals indude the following: A-Optmize cash dscounts B-Ensure that the amount of cash maintained in demand deposit accounts is sufficient (but not excessive) to satisfy expected cash disbursements See Exhbit 13.1 for a complete explanation of control plans and cell entries IV- input validity IC input completeness A input accuracy UC update completeness UA update accuracy
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (12 reviews)
Possible accounts payable effectiveness goals Contained in Figure Optimize ...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Accounting Information Systems
ISBN: 978-1133935940
10th edition
Authors: Ulric J. Gelinas, Richard B. Dull
Question Posted:
Students also viewed these Accounting questions
-
(a) Given the vectors A and B shown in Fig.3-32, determine B A, (b) Determine A B without using your answer in (a). Then compare you results and see if they are opposite.
-
Because of cyclic delocalization, structures A and B shown here for o-dimethylbenzene (o-xylene) are simply two resonance forms of the same molecule. Can the same be said for the two...
-
Find the equivalent resistance between points A and B shown in FIGURE 21-42. 4.8 N 3.3 0 8.1 N 1.5 N 2.5 0 6.3 0
-
What are the main technical challenges faced by firms that wish to internationalise their selection and assessment approaches?
-
While listening to "Pinball Wizard," you decide to conduct an experiment in which you play pinball over and over again. Each game takes an Exponential amount of time to finish, with expected value of...
-
Assume that Stillwater Designs produces two automotive subwoofers: S12L7 and S12L5. The S12L7 sells for $475, and the S12L5 sells for $300. Projected sales (number of speakers) for the coming five...
-
Listed below are a number of hypothetical research hypotheses. For each hypothesis, identify the independent and dependent variable. a. Male drivers are more likely to exhibit road rage behaviors...
-
Gentle Bens Bar and Restaurant uses 5,000 quart bottles of an imported wine each year. The effervescent wine costs $ 3 per bottle and is served only in whole bottles because it loses its bubbles...
-
Last year Minden Company introduced a new product and sold 2 5 , 1 0 0 units of it at a price of $ 9 9 per unit. The product's variable expenses are $ 6 9 per unit and its fixed expenses are $ 8 3 0...
-
The image below shows a DNA sequencing gel using the Sanger method. The top of the gel is the anode and the bottom is the cathode. What is the sequence of the template DNA? T A G A) 5' ACTAGTGACCGT...
-
The purchasing process is frequently a target of fraud perpetrators. Identify and discuss an organization that has experienced purchasing fraud. Your discussion should include the following items...
-
Explain why ambiguities and conflicts exist among operations process (effectiveness) goals, and discuss potential ambiguities and conflicts relative to the goals you described in DQ 13-1.
-
Given the data of the graph, approximately how much energy, in Calories, would a \(200 \mathrm{~g}\) rat use during the course of a day? A. 10 B. 20 C. 100 D. 200
-
A. Briefly describe some of the major determinants of food retail location. How would these determinants impact the existence of food deserts? B. Briefly explain the role of fixed (or entry) costs...
-
4. According to Stirling approximation, log(n!) nlogn - n. Using your calculator or whatever you feel comfortable with, calculate the left and right side of this expression for n varying from 1 to...
-
Course: Advanced Application Development 1. How do you create a Scanner object s that reads lines from the file in the src folder with file name defined by names.txt? String fileName = "names.txt"?...
-
1) Why do they declare a queue size? 2) Why not have an infinite number of nodes? 3) Is a circular queue possible with an infinite number of nodes?
-
Exception Handling and Input/Output Streams Instructions: Part 1: Exception Handling (40 points) Create a Java class called TemperatureConverter that includes the following methods:...
-
Placing a 0.725 g copper strip in the presence of iodine vapor produced a yellowish-white coating on the metal strip. The mass of the copper strip and coating was 0.733 g. The coating was removed by...
-
The area of square PQRS is 100 ft2, and A, B, C, and D are the midpoints of the sides. Find the area of square ABCD. B A
-
Argue for the energy-time uncertainty relation, \(\Delta E \Delta t \sim \hbar\), on the basis of the Breit-Wigner distribution.
-
Why are user specification activities important?
-
What is the role of the internal auditor in systems development?
-
Why are program change procedures important to auditors?
-
When a RACI matrix is being created, what person or group of people are assign an R for responsible?
-
a) What is arbitrage? And what are the different types of arbitrage? B) Can arbitrage strategies be risky when price convergence is not guaranteed? Clearly describe and outline 1 real-life example to...
-
Explain each segments of Financial Services Industry which are the BANKS, INSURANCE, AND ASSET MANAGEMENT . Explain each. Explain the updates on the 3 segments of Financial Services Industry (banks,...
Study smarter with the SolutionInn App