GPD HW3 - H W3: Ch 5 GPD Revenue cycle 1. Look at the...

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HW3: Ch 5 GPD Revenue cycle 1. Look at the flowchart on page 188. A shipping clerk is packing the order for shipment. What documents does he/she check to see if the items included in the box are correct? What internal document is included in (or on) the box? What external document is attached to the box (Hint: Since S&S uses its own trucks for delivery this is an S&S document that is "external" to the shipping dept but is internal to S&S's trucking department)? 2. What threat to the shipping process is reduced by following the procedures described in question #1? 3. In the Revenue cycle, what function does the Sales order entry clerk have? The Shipping clerk? The Accounts receivable clerk? 4. A shipping clerk receiving a return enters it in through the sales order entry screen. Does this violate internal control? Why or why not?
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5. What is the revenue recognition principal? Describe why this is relevant to the way S&S (and Fabricam) capture sales order data, and posts it? 6.
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This note was uploaded on 03/21/2011 for the course ECON 400 taught by Professor Shqerat during the Spring '11 term at University of Jordan.

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GPD HW3 - H W3: Ch 5 GPD Revenue cycle 1. Look at the...

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