第八章习题 2.ppt

1、第八章习题,简答,a) Define expenditure cycle. b) What are the basic expenditure cycle activities? a) The expenditure cycle is a recurring set of business activities and related data processing operations associated with the purchase of and payment for goods and services. b)The basic activities in the expend

2、iture cycle are: Requesting the purchase of needed goods. Ordering goods to be purchased. Receiving ordered goods. Approving vendor invoices for payment. Paying for goods purchased.,简答,Briefly discuss the differences among EOQ, MRP, and JIT. Economic Order Quantity (EOQ) is the traditional approach

3、to managing inventory. EOQ is used to find the optimal order size. Ordering costs, carrying costs, and stockout costs are considered in finding the EOQ. The MRP (Materials Requirements Planning) inventory method seeks to reduce inventory levels by scheduling production, based on estimated sales, rat

4、her than by estimating needs (which EOQ does). A just-in-time inventory system (or JIT) attempts to minimize, if not totally eliminate, both carrying and stockout costs through the frequent delivery of small amounts of materials, parts, and supplies when they are needed. JIT does not attempt to esti

5、mate needs or schedule production based on estimated sales, as it is based on customer demand at a given time. A JIT system almost eliminates finished goods inventory.,论述,Identify ten threats and applicable control procedures for each in the expenditure cycle.,论述,Answers can include the following in

6、formation: 1: Stock-outs - Controls: Inventory control system; accurate perpetual inventory; and vendor performance analysis is needed to prevent this problem 2: Requesting goods not needed - Controls: Review and approval by supervisors; use of pre-numbered requisition forms; and restricted access t

7、o blank purchase orders 3: Purchasing goods at inflated prices - Controls: Competitive bidding and proper supervision; approved purchase orders; and price list consultations are needed to prevent this problem 4: Purchasing goods of inferior quality - Controls: Use experienced buyers who know good ve

8、ndors; review purchase orders; and incorporate approved vendor list into formal procedures,5: Purchasing from unauthorized vendors - Control: Pre-numbered purchase orders should be approved; restrict access to approved vendor list and have procedures in place for any change to the list 6: Kickbacks

9、paid to buyers to influence their decisions - Controls: Clear conflict of interest policy prohibiting the acceptance of any gift from vendors; disclosure of financial interest policy for purchasing agents; and vendor audits 7: Receiving unordered goods - Controls: Receiving department must reject an

10、y goods for which there is no approved purchase order 8: Errors in counting goods received - Controls: Use blind P.O. copies to force receiving personnel to actually count goods; provide incentives for counting goods 9: Theft of inventory - Controls: Secure inventory storage locations; make transfer

11、s of inventory with proper approval and documentation; do periodic physical count and reconciliation with recorded amounts,论述,10: Errors in vendor invoices - Controls: Invoice accuracy should be verified and compared to P.O.s and receiving report data 11: Paying for goods not received - Controls: Vo

12、ucher package and original invoice should be necessary for payments 12: Failure to take available purchase discounts - Controls: File approved invoices by due date; track invoices by due date; use a cash budget to plan for cash needs 13: Paying same invoice twice - Controls: Invoices should be appro

13、ved only with a full voucher package and paid ones should be canceled so they cannot be used again; do not pay invoices marked Duplicate or Copy,论述,14: Recording and posting errors for purchases and payments - Controls: Data entry controls, and periodic reconciliation of subsidiary ledger with gener

14、al ledger control account 15: Misappropriation of cash by paying fictitious vendors and alteration of checks - Controls: Restrict access to cash, blank checks, and check signing machine; use check protection, pre-numbered checks, and imprinted amounts on checks to cut down on forgery and fraud; use

15、petty cash fund for small expenditures only; have proper segregation of duties and independent bank reconciliation function 16: Theft associated with EFT use - Controls: Access controls to the system; encryption of transmissions; time-stamp and number transmissions; control group should monitor all

16、EFT activity 17: Loss of data - Controls: Use file labels, back up of all data files regularly; and, use access controls 18: Poor performance - Controls: Preparation and review of performance reports,论述,论述,What types of decision-making and strategic information should the AIS provide in the expendit

17、ure cycle?,论述,The AIS should provide decision making information to: Determine when and how much additional inventory to order. Select the appropriate vendors from whom to order. Verify the accuracy of vendor invoices. Decide whether purchase discounts should be taken. Monitor cash flow needs to pay outstanding obligations. AIS should also provide the following strategic and pe