week 4 - acc5130_CH11_Fal10_3slides

A crucial decision in expenditure process key

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A crucial decision in expenditure process Key considerations are: Price Quality and Dependability Certifications ( e.g. ISO 9000 quality standards) show supplier has adequate quality control processes. In JIT systems, late or defective deliveries can halt system Once selected, supplier added to product inventory ‘master data file’ Vendor-managed inventory (VMI) program: Receiving and Storing Goods Receiving dept. accepts deliveries Receiving’s major responsibilities Deciding whether to accept delivery. Verifying the quantity and quality of delivered goods. Inventory dept. typically stores the goods Warehouse systems heavily automated (e.g. RFID, EPC/Barcodes, conveyer belts, etc.)
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9/21/2010 5 Figure 11-6: Receiving Function - Level 1 DFD Fig. 11-7 Receiving Report Paying for Goods and Services Two basic sub-processes involved in the payment process: Approval of vendor invoices Actual payment of the invoices
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9/21/2010 6 Figure 11-8: Pay for Goods function - Level 1 DFD 1. P/O 2. Vendor Invoice 3. Receiving Report Fig. 11-10: 3-Way Match Expenditure Process: Controls Occupational fraud and abuse termed corruption .
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