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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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    https://brainmass.com/business/accounting-standards/production-cycle-controls-401112

    Solution Preview

    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 ...

    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.

    $2.19

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