Apollo Shoes Case - Purchasing Cycle Bridge paper

Apollo Shoes Case - Purchasing Cycle Bridge paper -...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Running head: APOLLO SHOES CASE 1 Apollo Shoes Case
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Apollo Shoes Case Sales Internal Control Questionnaire. Assertions and Questions Yes,  No,  N/A Comments Occurrence assertion:  1. Is the credit department independent of the  sales department? Yes Treasurer approval needed.    2. Are sales of the following types controlled by  the same procedures described below? Sales  to employees, COD sales, disposals of  property, cash sales, and scrap sales. No No information found.  3. Is access to sales invoice blanks restricted? Yes Invoices secured.  Area secured.    4. Are pre-numbered bills of lading or other  shipping documents prepared or completed in  the shipping department? Yes Shipping department. Completeness assertion:  5. Are sales invoice blanks pre-numbered? Yes Blank invoices pre-numbered.  6. Is the sequence checked for missing invoices? No No information found.  7. Is the shipping document numerical sequence  checked for missing bills of lading numbers? No No information found. Accuracy assertion:  8. Are all credit sales approved by the credit  department prior to shipment? Yes Credit manager file.  9. Are sales prices and terms based on approved  standards? Yes Approved price file. 10. Are returned sales credits and other credits  supported by documentation as to receipt,  condition, and quantity, and approved by a  responsible officer? No No information found. 11. Are shipped quantities compared to invoice  quantities? Yes Shipping clerk. 12. Are sales invoices checked for error in  quantities, prices, extensions and footing, and  freight allowances, and checked with  customers’ orders? Yes Accounts receivable clerk. 13. Is there an overall check on arithmetic  accuracy of period sales data by a statistical  or product-line analysis?
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern