AUE2602 Assignment 4B (COMPLETE ANSWERS) Semester 1 2024 - DUE 9 May 2024 ;100% TRUSTED workings, explanations and soluti ons
18 vues 0 fois vendu
Cours
Corporate Governance in Accountancy
Établissement
University Of South Africa
Book
Auditing Notes for South African Students
AUE2602 Assignment 4B (COMPLETE ANSWERS) Semester 1 2024 - DUE 9 May 2024 ;100% TRUSTED workings, explanations and soluti ons. ....... BubblyFizz (Pty) Ltd is a renowned soda drink manufacturing company recognised for its premium fizzy beverages. As an auditor conducting an inventory cycle audit, y...
AUE2602 Assignment 4B
(COMPLETE ANSWERS)
Semester 1 2024 - DUE 9 May
2024 ;100% TRUSTED
workings, explanations
and soluti ons
ADMIN
[COMPANY NAME]
, BubblyFizz (Pty) Ltd is a renowned soda drink manufacturing company
recognised for its premium fizzy beverages. As an auditor conducting an
inventory cycle audit, you have been tasked with evaluating the company’s
internal controls. During a discussion with management, the following
information came to your attention: i. Mrs Pepsi is responsible for receiving
completed goods at the company warehouse. She checks the slip received
from the production section, compares it with the number of crates entering
the warehouse and signs it. She then updates the inventory records on the
company’s accounting system, Cloves-Accounting, by signing in with her
unique password. ii. The warehouse has four entry points, therefore entering
and exiting the warehouse are quick processes. Staff responsible for filling
orders can manage their task quickly by entering through sliding doors and
selecting the crates that they need from the shelves. iii. These staff members
then manually write down which stock they have taken from the shelves on a
list kept in the warehouse. This list is then totaled at the end of the week, and
the Cloves-Accounting system is updated accordingly.
Certainly, let's break down each aspect of the internal controls at BubblyFizz (Pty) Ltd based on
the information provided:
i. Mrs. Pepsi's Role in Receiving Completed Goods:
• Mrs. Pepsi is responsible for receiving completed goods at the company warehouse. Her
process involves checking the slip received from the production section against the
number of crates entering the warehouse and signing off on it.
• She then updates the inventory records on the company's accounting system, Cloves-
Accounting, using her unique password.
Internal Control Evaluation:
• Strengths:
• Mrs. Pepsi's role adds a layer of accountability to the receiving process as she verifies the
incoming goods against the production slips.
• Her unique password for updating inventory records provides a level of access control,
ensuring only authorized personnel can make changes to the inventory records.
• Weaknesses:
Les avantages d'acheter des résumés chez Stuvia:
Qualité garantie par les avis des clients
Les clients de Stuvia ont évalués plus de 700 000 résumés. C'est comme ça que vous savez que vous achetez les meilleurs documents.
L’achat facile et rapide
Vous pouvez payer rapidement avec iDeal, carte de crédit ou Stuvia-crédit pour les résumés. Il n'y a pas d'adhésion nécessaire.
Focus sur l’essentiel
Vos camarades écrivent eux-mêmes les notes d’étude, c’est pourquoi les documents sont toujours fiables et à jour. Cela garantit que vous arrivez rapidement au coeur du matériel.
Foire aux questions
Qu'est-ce que j'obtiens en achetant ce document ?
Vous obtenez un PDF, disponible immédiatement après votre achat. Le document acheté est accessible à tout moment, n'importe où et indéfiniment via votre profil.
Garantie de remboursement : comment ça marche ?
Notre garantie de satisfaction garantit que vous trouverez toujours un document d'étude qui vous convient. Vous remplissez un formulaire et notre équipe du service client s'occupe du reste.
Auprès de qui est-ce que j'achète ce résumé ?
Stuvia est une place de marché. Alors, vous n'achetez donc pas ce document chez nous, mais auprès du vendeur MasterVincent. Stuvia facilite les paiements au vendeur.
Est-ce que j'aurai un abonnement?
Non, vous n'achetez ce résumé que pour €2,49. Vous n'êtes lié à rien après votre achat.
