The process begins when the Facilities Clerk determines the need for fixed assets and prepares two...
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The process begins when the Facilities Clerk determines the need for fixed assets and prepares two copies of the Fixed Asset Request. The Fixed Asset Request is approved by the Facilities Manager. The manager sends copy 1 of the Fixed Asset Request to Purchasing and files copy 2 by request number. After the fixed assets have been received, the Fixed Asset Supervisor receives the Fixed Asset Inspection Report from the Receiving Department. The supervisor inputs the fixed asset details (fixed asset number, date, description, location, depreciation method, life, and salvage value) into the system. The system stores the data into the Fixed Asset File and prints the Fixed Asset Input Report which is sent to the Fixed Asset Supervisor. The supervisor files the Fixed Asset Input Report and the Fixed Asset Inspection Report by fixed asset number. At the end of every month, the Fixed Asset Supervisor enters the system to start the depreciation process. The system reads the Fixed Asset File, calculates depreciation, and prints one copy of the Depreciation Report and two copies of the Deprecation Journal Voucher. These documents are returned to the Fixed Asset Supervisor. The supervisor checks and approves the Depreciation Report and the Depreciation Journal Voucher. Copy 1 of the Depreciation Journal Voucher is sent to the General Ledger Department. Copy 2 of the Depreciation Jourmal Voucher and the Depreciation Report are filed by date. Entities (There are 3 Internal entities which are in bold): Facilities (Clerk and Manager), Purchasing, System, Fixed Asset Supervisor, Receiving Department, General Ledger Department Documents; Fixed Asset Request (2 copies), Fixed Asset Inspection Report, Fixed Asset Input Report, Depreciation Report, Journal Voucher (2 copies) Required: Prepare a flowchart that includes the documents flow and the interactions with the system. The flowchart should have columns for the internal entities (in bold above). The process begins when the Facilities Clerk determines the need for fixed assets and prepares two copies of the Fixed Asset Request. The Fixed Asset Request is approved by the Facilities Manager. The manager sends copy 1 of the Fixed Asset Request to Purchasing and files copy 2 by request number. After the fixed assets have been received, the Fixed Asset Supervisor receives the Fixed Asset Inspection Report from the Receiving Department. The supervisor inputs the fixed asset details (fixed asset number, date, description, location, depreciation method, life, and salvage value) into the system. The system stores the data into the Fixed Asset File and prints the Fixed Asset Input Report which is sent to the Fixed Asset Supervisor. The supervisor files the Fixed Asset Input Report and the Fixed Asset Inspection Report by fixed asset number. At the end of every month, the Fixed Asset Supervisor enters the system to start the depreciation process. The system reads the Fixed Asset File, calculates depreciation, and prints one copy of the Depreciation Report and two copies of the Deprecation Journal Voucher. These documents are returned to the Fixed Asset Supervisor. The supervisor checks and approves the Depreciation Report and the Depreciation Journal Voucher. Copy 1 of the Depreciation Journal Voucher is sent to the General Ledger Department. Copy 2 of the Depreciation Jourmal Voucher and the Depreciation Report are filed by date. Entities (There are 3 Internal entities which are in bold): Facilities (Clerk and Manager), Purchasing, System, Fixed Asset Supervisor, Receiving Department, General Ledger Department Documents; Fixed Asset Request (2 copies), Fixed Asset Inspection Report, Fixed Asset Input Report, Depreciation Report, Journal Voucher (2 copies) Required: Prepare a flowchart that includes the documents flow and the interactions with the system. The flowchart should have columns for the internal entities (in bold above).
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Related Book For
Accounting Theory Conceptual Issues in a Political and Economic Environment
ISBN: 978-1412991698
8th edition
Authors: Harry Wolk, James Dodd, John Rozycki
Posted Date:
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