You were hired to manage the accounting and control functions at the Glass Jewelry Company. During your

Question:

You were hired to manage the accounting and control functions at the Glass Jewelry Company. During your introductory meeting, the president asked you to design and implement a new AIS within six months. Company sales for the past year were $10 million, and they are expected to double in the next 18 months.

Required
a. Outline the procedures you would follow to complete the assigned project. Include a description of the following:
1. Sources of information
2. Methods of documenting information collected
3. Methods of verifying the information collected
b. The system will contain a number of programs, including Enter Invoices and Print Payable Checks. For each program, describe its purpose, and out-line application control considerations.

Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...