Research the fundamental processes that occur within the expenditure and production cycles and financial reporting. These processes include the following:
- Software or services for inventory or asset tracking
- Supply chain management
- Investment and cash management
- Cost or job accounting
- Production management
- Vendor evaluations and records
Analyze how the given fundamental processes will support the expenditure and production cycles and financial reporting activities of your company.(HOME BASE CAKE DECORATING)
Also, select and describe the software that your company will use for account transaction processing and financial reporting.
If you are using a comprehensive enterprise resource planning (ERP) package, such as Systemanalyse und Programmentwicklung (SAP), specify and describe which modules will be used that are related to the expenditure and production cycles and financial reporting© BrainMass Inc. brainmass.com October 25, 2018, 8:06 am ad1c9bdddf
Step 1: Software or services for inventory or asset tracking.
The inventory for Home Based Cake Decoration business includes flour, decoration products, different sizes and shapes of cake baking pans. There are cake mixes, frosting, and food coloring. There will also be cake decorating supplies such as cake decorating bags, cake decorating couplings, and cake boards. The software/services for inventory or asset tracking will use cabled barcode scanners attached to PCs. The software will help control inventory through received, move, issue and adjust transactions. The asset tracking software/services will help track fixed assets such as ovens, equipment, furniture, vehicles, and other valuable assets. The software/service will help Home Based Cake Decoration keep asset records up to date and periodically take physical inventory of the fixed assets.
Step 2: Supply chain management
The supply chain management system for Home Based Cake Decoration business means, keeping track of purchase order processing, inventory management, goods receipt and store management, and supplier management. The supply chain management system will enable the integration of process through the supply chain to share valuable information, including forecasts, transportation, and ...
This solution explains Home Based Cake Decoration business. The sources used are also included in the solution.
Control System Conditions
1. What are several conditions that may lead to fraud? To what type of fraud may these conditions lead?
2. Explain some risks to the revenue and collection cycle that are the result of improper revenue collection.
3. Describe the source documents and controls that would be included in a typical production cycle.View Full Posting Details