When LARGA agents receive new artwork photos from artists, they need to submit them for appraisal to
Question:
When LARGA agents receive new artwork photos from artists, they need to submit them for appraisal to one of the external artwork experts. However, each agent must perform a preliminary validation to guarantee whether enough information is available describing each artwork (artist contact, artwork type, and a short description) and whether the quality of pictures fit the minimum required standards. New artwork can be rejected before being submitted for appraisal in case of insufficient information or poor quality of pictures is detected. At least 3 high-quality pictures are required.
One important step before submitting new artwork for appraisal refers to the estimated price given by the artist. Whenever new artwork has an artist’s estimate under $100, an appraisal can only be requested upon approval of the LARGA manager. Managers can also reject new artwork due to low prices. The LARGA agent is then finally allowed to submit new artwork for appraisal. A report is then prepared with the basic information regarding the artwork (except artist identification and contact details). Then, all valid pictures are attached to this report, and the report is sent to the specialist, as a request to appraise it.
The LARGA agent will then receive the final appraisal report from the specialist and must make the final decision on whether to accept that artwork to be included in the catalog. If the resulting appraisal has more than a 25% difference compared to the estimated price given by the artist (more or less), then another approval is required from the LARGA manager, who can again reject new artwork due to low price. Alternatively, the manager can require the agent to request a second appraisal.
Either with the first appraisal approved by the manager or having two appraisal reports considered (if the average appraised value is within +/- 25% difference comparing to the artist given price), the artwork can be approved. Agent will then inform the manager a new artwork is ready to be included in the catalog and will also notify the artist with the confirmed appraised price.
In case of the new artwork being rejected for any reason, the LARGA agent must sent back to the artist all the pictures submitted, and a short report explaining the reason for the new artwork to be rejected.
Provide a DFD for the following process and a PSF for each primitive process.
Financial Accounting and Reporting a Global Perspective
ISBN: 978-1408076866
4th edition
Authors: Michel Lebas, Herve Stolowy, Yuan Ding