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Identify at least three weaknesses in O'Brien Corporation's

Identify at least three weaknesses in O'Brien Corporation's revenue cycle activities. Describe the problem resulting from each weakness. Recommend control procedures that should be added to the system to correct the weakness.

O'Brien Corporation is a midsize, privately owned, industrial instrument manufacturer supplying precision equipment to manufacturers in the Midwest. The corporation is ten years old and uses an integrated ERP system. The administrative offices are located in a downtown building and the production, shipping, and receiving departments are housed in a renovated warehouse a few blocks away.
Customers place orders on the company's website, by fax, or by telephone. All sales are on credit, FOB destination. During the past year, sales have increased dramatically, but 15% of credit sales have had to be written off as uncollectible, including several large online orders to first-time customers who denied ordering or receiving the merchandise. (more attached)...

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Identify at least three weaknesses in O'Brien Corporation's revenue cycle activities. Describe the problem resulting from each weakness. Recommend control procedures that should be added to the system to correct the weakness.

O'Brien Corporation is a midsize, privately owned, industrial instrument manufacturer supplying precision equipment to manufacturers in the Midwest. The corporation is ten years old and uses an integrated ERP system. The administrative offices are located in a downtown building and the production, shipping, and receiving departments are housed in a renovated warehouse a few blocks away.
Customers place orders on the company's website, by fax, or by telephone. All sales are on credit, FOB destination. During the past year, sales have increased dramatically, but 15% of credit sales have had to be written off as uncollectible, including several large online orders to first-time customers who denied ordering or receiving the merchandise. (more attached)...

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