Module 4: Accounting IS

Question 1

Designing Accounting IS

Answer 1

1. Break down into processes into phases
2. Consider objective for that phase
3. Decide relevant documentation for the phase
4. Consider WCGW
5. Design controls to address the WCGW

Question 2

3. Relevant Documentation

Answer 2

• purchase requisition: internal doc raised by user department to request financing. Containers description of the GnS. Raised by user and forwarded to budget holder for approval. Copy is passed to purchase department in order for purchase order to be raised
• purchase order: raised by purchaser to send to the seller.

And others

Question 3

Sales Cycle

Answer 3

1. Customer places order (sales)
2. Order fulfilled and despatched (warehouse)
3. Customer invoiced for goods (finance)
4. Customer pay for goods (finance)
5. Good returned (warehouse)
6. Credit note (finance)