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Production Cycle Controls

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Describe the source documents and controls that would be included in a typical production cycle.

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Solution Summary

Your response is 267 words and lists the six functions in the production cycle, the common source documents in each and the typical controls embedded into each document or the document's use/copies. Response is in outline and bullet format so you can put into an essay of whatever length is desired.

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The production cycle including the following functions, with the documents related to them and controls typically used in bullets beneath each document:

1. Purchasing function

Purchase requisition

- needs approvals
- must be to approved vendor
- must be from approved stock item list
- may or may not require competitive bid

Purchase order

- serially numbered
- copies to accounting and receiving (to match with receipt of goods and payment)

2. Receiving function

Prepare receiving report

- Receiving employee is ...

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