You are required to: Identify weaknesses in Company's existing expenditure cycle procedures, explain the resulting problems, and suggest as solution

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5. Receiving department employees compare the quantity delivered to the quantity indicated on the purchase order. Whenever a discrepancy is greater than 5%, the receiving employee sends an email to the purchasing department manager. The receiving employee uses an online terminal to enter the quantity received before moving the material to the inventory stores department. 5. Receiving department employees compare the quantity delivered to the quantity indicated on the purchase order. Whenever a discrepancy is greater than 5%, the receiving employee sends an email to the purchasing department manager. The receiving employee uses an online terminal to enter the quantity received before moving the material to the inventory stores department.

Answer rating: 100% (QA)

Weaknesses in Companys Existing Expenditure Cycle Procedures 1 Lack of Budgetary Control The company may not have a clear budgeting process in place to monitor and control expenditures This can lead t... View the full answer