Acl Assignment 3

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ACG 406 – Spring 2013 ACL Assignment 3 – Due April 15, 2013 Requirements: Based on what you have learned from the tutorials you should be able to utilize ACL to answer the following questions. Turn in your typed answers to the following questions. Each answer should be a complete sentence – single word or number answers will not receive credit. ACL work is to be done individually! [The following questions require the use of the Roger Company ACL files which you can get from the book’s website or you may still have them on your computer, Timmy drive, or flash drive from a previous ACL assignment] 1. Possible misstatements due to lack of appropriate sales authorization include selling goods at unauthorized prices, selling amounts that exceed customer credit limits, and/or selling to customers who are bad credit risks. Roger Company’s policy does permit sales in excess of credit limits, but only with management approval. Using the Roger_Company_AR table how many sales were made that exceeded customer credit limits? 2. How many of the sales in question 1 above were not approved? 3. Possible misstatements that may occur during the cash receipts process result from cash receipts being received, but not recorded (which could facilitate embezzlement). A control technique that is used to mitigate the risk of such misstatements is to segregate the duties of the accounts receivable department, general ledger accounting records, and cash receipts. The employee who completed each duty is required to sign his/her initials, and evidence of this has been provided for you in the AR table. In each transaction, proper segregation of duties is accomplished when no two duties have been completed by the same person. Using a filter in the Roger_Company_AR table how many transactions took place when segregation of duties was not properly implemented (note: there

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