. . . . . . . . . 299 Identification of Tests of Controls for the Revenue Cycle (Sales and Cash Receipts) 10.2 Southeast Shoe Distributor, Inc. . . . . . . . . . . . . . . . 309 Identification of Substantive Tests for the Revenue Cycle (Sales and Cash Receipts) 10.3 Southeast Shoe Distributor, Inc. . . . . . . . . . . . . . . . 319 Selection of Audit Tests and Risk Assessment for the Revenue Cycle (Sales and Cash Receipts) 10.4 Southeast Shoe Distributor, Inc. . . . . . . . . . . . . .
VIGARD MANUFACTURING COMPANY Mr. Jesse Krause, supply manager of the Vigard Manufacturing Company, was faced with the problem of selecting a source to prepare a technical manual for a winder that the company was planning to sell nationally. The Vigard Manufacturing Company was formed four years ago by Edward Vigard, an engineer who had previously been employed by a large electronics manufacturer in the New Jersey area. Mr. Vigard’s company concentrated on the production of a special type of wound
27 8, 9, 10 7, 11 6, 7, 8, 9 4, 6, 8 5. *6. *7. 21 26 27, 28 1 12, 13, 14 15 *This material is covered in an Appendix to the chapter. Copyright © 2010 John Wiley & Sons, Inc. Kieso, Intermediate Accounting, 13/e, Solutions Manual (For Instructor Use Only) 7-1 ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE) Learning Objectives 1. 2. 3. 4. 5. 6. 7. 8. 9. *10. *11. Identify items considered cash. Indicate how to report cash and related items. Define receivables
have become one of the necessities. Usually, organizations in the country communicate and share information in a manual manner. Pharmaceutical establishments use various paper materials and pens to process the sales and inventory. In this new generation, there are establishments using automated transaction such as sales and inventory systems while other still depend on the manual procedures like Mr. Rudy D. Saron who owns the Pharmacia Quaresma, it was established on April 28, 2007. It is located
where technology is everywhere, various devices, gadgets, systems and automation of manual works have already been distinguished and proposed by a lot of inventors and programmers. These technological innovations have been a great help in the people’s personal lives as well as in the business world. However, despite the advent of modern technology, many businesses today like Mesinas General Merchandise use manual processing and handling of data in their business transactions. This could result to
instead of a manual one. The manual accounting system is when the business uses it often but still it a choice of record keeping for some small businesses. In this case the manual bookkeeping is maintained by computerised system, and providing layers of traditional form of maintaining a business accounts and records. Manual Accounting This accounting system means that they are used less but still keep the record of book keeping for some small businesses. In this case the manual accounting is
Table 6 Table 7 Table 8 Table 9 Table 10 Table 11 Table 12 Table 13 Sales of Oral Care by Category: Value 2005-2010 ...................................... 2 Sales of Oral Care by Category: % Value Growth 2005-2010...................... 3 Sales of Manual and Power Toothbrushes by Category: Value 20052010 ............................................................................................................. 3 Sales of Manual and Power Toothbrushes by Category: % Value Growth 2005-2010 ......
Before Doubts about accuracy of time submitted Hand written timesheets Risk of time theft manual checks required Lack of visibility into the data & cost centres Less accurate After Number of errors and paperwork slashed Data is verified and uploaded automatically into payroll Easy reporting and performance monitoring Stores get daily, weekly and annual progress reports Special deals all available in one database Stock is electronically managed Live reports available on the spot Economic
management development is important if its training session doesn’t even touch on the practicalities of being a manager? Executives from the CEO down consider the hefty policy manual their bible. If it’s so important, why is it a “parting gift” at the end of orientation week? MacKinley hounds Goldstone the sales rep about his quotas and compliance. Yet, in a postcard, he urges Goldstone the manager to concentrate on people development. No wonder the guy doesn’t understand. Gloria
Flowcharting/ Control Matrix Exercises 1. Lucky Company: Sales & Cash Receipts Narrative The Lucky Company operates accessories business. The company accepts only its Lucky charge card (LCC). Customer presents the LCC slip to the Sales clerk for payment record. The Sales clerk processes LCC slip and keys sales data in the computer. At the end of the shift, the clerk forwards the LCC slips to the cashier. The cashier creates a batch total for the LCC slips and sends the processed LCC slips