CHAPTER 11
THE EXPENDITURE CYCLE:
PURCHASING AND CASH DISBURSEMENTS
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公输的翻译SUGGESTED ANSWERS TO DISCUSSION QUESTIONS
11.1 There are veral reasons why accountants should be involved in decisions about investing in IT and not leave such decisions solely to IS professionals. First, the economic merits of propod IT investments need to be subjected to the same kind of detailed analysis as any other major capital investment (e.g., plant expansions). Accountants are skilled in making such analys. Second, the operational feasibility of IT investments must also be evaluated. How will the investment affect daily operating procedures? Will the system be able to adapt as the company changes the nature of its operations? As one of the major urs of the information system, accountants need to participate in the analys. Third, at what stage of the life cycle is the propod system? In other words, will t
he system soon become obsolete? Fourth, what are the risks that either employees or customers will be unhappy with the new system? Finally, what is the long-run viability of the propod supplier? Here again accountants can make a valuable contribution by analyzing the long-run economic viability of propod vendors.
元旦英语>服役是什么意思11.2 The Vendor Managed Inventory (VMI) is esntially Electronic Data Interchange (EDI) where the retailer has given their vendor access rights to their point-of-sale (POS) system. Some of the potential advantages and disadvantages of moving to a VMI are:
Advantages:
Lower cost – retailers are able to esntially “outsource” their inventory management to their vendors.
Potentially reduced lost sales – provided that the vendors are able to meet product demand.
More accurate forecasts – since vendors have more data from the retailers, they are able
to more accurately forecast and meet demand for their products.
Disadvantages:
Cost – the retailers and vendors must expend the resources necessary to acquire the technology and incur the costs of changing the organization to a VMI arrangement.
Security – The vendors have significant access to retailer data. The retailer puts one of their most valuable asts, their sales data, in the hands of their vendors. Such access opens the door to a myriad of data and system curity issues such as data alteration and deletion, unauthorized access to non-sales related data, inadvertent loss of data or even corporate espionage.
Over supply – the vendor could ship more inventory than the retailer needs to meet demand.
Controls:
The following are a list of potential controls that could be implemented to monitor VMI systems:
1. At least at first and then periodically thereafter, the retailer should monitor inventory levels to determine whether the vendor is nding enough inventory to prevent stock outs but not too much inventory that is slow to ll.
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2. Analyze inventory costs. If VMI is working, then overall inventory costs should decline.
3. Intrusion detection systems to determine if the vendor has compromid the curity of the retailer’s system.
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4. Unauthorized access attempts to non-VMI related areas of the retailer’s system.
11.3吸血鬼日记第一季在线观看 Since the primary benefit of procurement cards is to give employee’s the ability to make small non-inventory purchas necessary for their area of responsibility be it office supplies, computer or office equipment, meals and/or travel expens, a formal approval process for all purchas would negate the benefit of the procurement card. Therefore, t
六年级英语上册he controls for procurement cards should be focus on the initial issuance of the card and subquent reviews and audits of purchas made by employees entrusted with procurement cards. Employees receiving cards must be properly trained in their proper u and in the procurement card controls implemented by the organization. If employees know that any purcha they make can be the subject of subquent review and audit, they are more likely to make legitimate purchas. Subquent reviews and audits must also require proper documentation related to each purcha made with the procurement card. During procurement card training, it should be emphasized that employees will be required to produce original receipts or other formal documentation for all items purchad.
explained11.4 This question should generate significant discussion and allow the instructor to counl students on personal debt, credit cards, interest, and the personal problems that debt can cau. Many people do not keep their credit card receipts as evidence by receipts left at the “pay-at-the-pump” gas stations. If consumers do not keep their receipts, how do they know whether their credit card bill is accurate? Thus, consumers slives
hould verify each charge on their bill to each receipt. In addition, credit card bill should be reviewed for accurate refunds for returned merchandi or cancelled rvices. Instructors may also want to talk to students about running up a large balance on their credit cards and then only making the minimum payments. Students should be warned about identify theft and the dangers of paying for goods and rvices with credit cards through un-protected channels.
