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Unformatted text preview: stem determine the appropriate price for a
particular customer/consuming agency order using the
pricing models and formulas defined in the Pricing Method
Definition activity? 76. Does the system develop the information necessary to
prepare an initial invoice for a customer/consuming agency
that provides adequate support for the prices charged? 77. Does the system prepare either the initial invoice itself or
pass the information required to the core financial system for
it to prepare the invoice? IT Audit Manual Volume III KD Reference 67 IT Audit Manual
Does the system provide the core financial system with the
data necessary to establish the receivable and support
subsequent administration of the receivables management
and collection process? 79. Does the system decrease the inventory of finished goods
account and increase the cost of goods sold account by the
amount at which the inventory are valued? 80. Does the system record revenue and the appropriate
offsetting account (e.g., cash, receivables, or advances) in the
amount for which the inventory items are sold/issued (price)
in case of inventory of finished goods? 81. Does the system record the value of items issued from
storage or shipped to customer/consuming agency for which
title does not pass to the customer/consuming agency until a
subsequent event occurs? 82. Does the system decrease the quantity of the inventory item
on hand by the number of items sent to the disposal
organization? 83. Does the system record confirmation of receipt of the items
by the disposal organization? 84. Does the system transfer balances between financial
categories, for example, from "inventory held for sale/issue"
to "excess, obsolete, and unserviceable inventory?" 85. Does the system account for the proceeds resulting from
disposition of inventory items as scrap? 86. Does the system provide the following types of
o E. KD Reference Stock availability?
Customer/consuming agency order?
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