ACCT 402 Saudi Electronic University Accounting Information System Questions

Description

1 attachmentsSlide 1 of 1attachment_1attachment_1

Unformatted Attachment Preview

College of Administration and Finance Sciences
Assignment (3)
Deadline: Saturday 30/04/2022 @ 23:59
Course Name: Introduction to
Student’s Name:
Accounting Information Systems
Course Code: ACCT 402
Student’s ID Number:
Semester: II
CRN:
Academic Year: 1443 H
For Instructor’s Use only
Instructor’s Name: Amal Alshangiti
Students’ Grade:
/10
Level of Marks: High/Middle/Low
Instructions – PLEASE READ THEM CAREFULLY
•
The Assignment must be submitted on Blackboard (WORD format only) via allocated
folder.
•
Assignments submitted through email will not be accepted.
•
Students are advised to make their work clear and well presented, marks may be reduced
for poor presentation. This includes filling your information on the cover page.
•
Students must mention question number clearly in their answer.
•
Late submission will NOT be accepted.
•
Avoid plagiarism, the work should be in your own words, copying from students or
other resources without proper referencing will result in ZERO marks. No exceptions.
•
All answers must be typed using Times New Roman (size 12, double-spaced) font. No
pictures containing text will be accepted and will be considered plagiarism.
•
Submissions without this cover page will NOT be accepted.
1
College of Administration and Finance Sciences
Question 1:
(6 Marks)
Khan Corporation is a midsize, privately owned, industrial instrument
manufacturer supplying precision equipment to manufacturers in the Midwest. The
corporation is 10 years old and uses an integrated ERP system. The administrative offices
are located in a downtown building and the production, shipping, and receiving
departments are housed in a renovated warehouse a few blocks away. Customers place
orders on the company’s website, by fax, or by telephone. All sales are on credit, FOB
destination. During the past year sales have increased dramatically, but 15% of credit sales
have had to written off as uncollectible, including several large online orders to first-time
customers who denied ordering or receiving the merchandise. Customer orders are picked
and sent to the warehouse, where they are placed near the loading dock in alphabetical
sequence by customer name. The loading dock is used both for outgoing shipments to
customers and to receive incoming deliveries. There are ten to twenty incoming deliveries
every day, from a variety of sources.
The increased volume of sales has resulted in a number of errors in which customers
were sent the wrong items. There have also been some delays in shipping because items
that supposedly were in stock could not be found in the warehouse. Although a perpetual
inventory is maintained, there has not been a physical count of inventory for two years.
When an item is missing, the warehouse staff writes the information down in log book.
Once a week, the warehouse staff uses the log book to update the inventory records. The
system is configured to prepare the sales invoice only after shipping employees enter the
actual quantities sent to a customer, thereby ensuring that customers are billed only for
items actually sent and not for anything on back order.
Questions:
A. Identify at least three weaknesses in Khan Corporation’s revenue cycle activities. [2 points]
B. Describe the problem resulting from each weakness. [2 point]
C. Recommend control procedures that should be added to the system to correct the weakness.
[2 point]
2
College of Administration and Finance Sciences
Question 2:
(2 Marks)
One of the threats associated with having employees telecommute is that they may use companyprovided resources (e.g., laptop, printer, etc.) for a side business. What are some other threats?
Question 3:
(2 Marks)
Identify and discuss two methods of production planning?
3

Purchase answer to see full
attachment

Tags:
development

accounting

finance

User generated content is uploaded by users for the purposes of learning and should be used following Studypool’s honor code & terms of service.