For Each of the Following Computer Controls Identify the Related

question 57

Essay

For each of the following computer controls identify the related potential misstatement.
1.The computer accounts for all goods shipped but not billed.
2.The computer matches the customer number on the sales invoice with the customer number on the sales order.
3.The computer matches the customer on the sales order with the customer master file.
4.The computer matches sales prices with the authorized price list and the sales order.
5.The computer matches the amount of the sales order with the credit authorization on the customer master file.
6.The computer matches the sales invoice information with underlying shipping information.
7.The computer matches all goods pulled from the inventory (perpetual) to the approved sales order.
8.The computer compares the invoice date with the accounting period when the goods were shipped.
9.The computer matches prenumbered shipping documents with the approved sales for each shipment.
10.The computer prints a report of all unfilled sales orders.

Calculate accounts receivable turnover and average collection period.

Compute interest and principal amounts for notes, including those with missing information.

Prepare journal entries for transactions involving notes receivable, including interest accrual and collection.

Identify the primary accounting problems associated with accounts receivable.

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Definitions:

Emotional Satisfaction

The state of being content or fulfilled in one's emotional needs and desires.

Social Loafing

The tendency of individuals to expend less effort when working in a group compared to when working alone.

Group Member

An individual who is a part of a collective or team, contributing to the group's objectives and activities.

Group Cohesion

The strength of the relationships linking members of a group to one another and to the group itself.