Scenario

You are a business analyst at a small direct-to-consumer organization and have been tasked with verifying the integrity of the accounts payable process. You will compare select general ledger data with other journals to prove the ledger, identify areas of risk, and determine whether appropriate internal and external controls are present. You will need to draft a memo to the chief financial officer (CFO) to communicate any findings.

Directions

For this project, you will use select financial data provided in the Supporting Materials section to perform an analysis of the subsidiary and financial statement (general ledger) accounts to identify any account irregularities (red flags). You will review current internal and external controls using specific financial data to identify inconsistencies or anomalies that provide opportunities for risk. Then communicate any findings in a memo using the Project Two template found in the What to Submit section.

Specifically, you must address the following rubric criteria:

1. Analyze the state of the company's current financial controls.
   1. Use Posey's Pet Emporium Accounts Payable Policies and Procedures and Accounts Payable Ledgers and Journals found in the Supporting Materials section.
   2. Include any internal or external controls found in the guide.

Accounts Payable Subsidiary Ledger
Vendor A
				Balance
Date	Invoice	Debit	Credit	Debit	Credit
8/1/2022	Beginning Balance				1,532.22
8/4/2022	4322	200.00			1,332.22
8/8/2022	4320	1,132.22			200.00
8/18/2022	4330		280.09		480.09
8/24/2022	4332		250.00		730.09
8/26/2022	4316	200.00			530.09
8/31/2022	Ending Balance	1,532.22	530.09		530.09
Vendor B
				Balance
Date	Invoice	Debit	Credit	Debit	Credit
8/1/2022	Beginning Balance				200.00
8/3/2022	4325		350.44		550.44
8/12/2022	4324	200.00			350.44
8/17/2022	4329		1,804.28		2,154.72
8/22/2022	4325	350.44			1,804.28
8/30/2022	4336		350.41		2,154.69
8/31/2022	Ending Balance	550.44	2,505.13		2,154.69
Vendor C
				Balance
Date	Invoice	Debit	Credit	Debit	Credit
8/1/2022	Beginning Balance				43.21
8/4/2022	4319	43.21			-
8/12/2022	4327		435.76		435.76
8/19/2022	4331		87.92		523.68
8/24/2022	4334		109.52		633.20
8/31/2022	Ending Balance	43.21	633.20		633.20
Vendor D
				Balance
Date	Invoice	Debit	Credit	Debit	Credit
8/1/2022	Beginning Balance				300.12
8/9/2022	4326		380.99		681.11
8/15/2022	4328		4,000.00		4,681.11
8/17/2022	4318	300.12			4,380.99
8/23/2022	4333		150.00		4,530.99
8/29/2022	4335		2,000.00		6,530.99
8/30/2022	4328	4,000.00			2,530.99
8/31/2022	Ending Balance	4,300.12	6,530.99		2,530.99