I only need help with b and c. I understand the rest but I am not sure of the controls and types of reports. Can you please help?
Using the revenue cycle of accounting examine the hardware and software necessary to integrate this process into an automated system for a plastics manufacturing company. Then discuss what information might need to be shared between the different cycles. Finally, include the following:
a. Who will need access to the information?
b. What controls will need to be in place?
c. What types of reports will need to be generated?
d. What information should be available through the corporate intranet or Internet?
What controls will need to be in place?
Control programs are critical to our organization which is into plastic manufacturing, because without it the results could be chaotic. It helps:
In maximizing efficiency and minimize waste.
To facilitate management and control.
In Effectiveness and efficiency of operations include the use of the entity's resources.
Conservation of environment as plastic is not an eco friendly product and processing of it wmits pollutiion
Help in strategy implementation
Control should be designed to provide reasonable assurance regarding prevention of or prompt detection of unauthorized acquisition, use, or disposition of an agency's assets.
Specific techniques can be in place to appraise any specific procedures of cash, purchases, sales and various other things. Control activities occur at all levels and functions of the entity. For the controls to be accurate and effective, management needs to assign the appropriate levels of access for the internal controls to be secured at that time all log-in user information would then need to be reported to the IT department to securely file. Each level of information will need to be accessed with a log in and password to retrieve information. This secures the files that do not need to be viewed in all departments. Other controls can be:
Top level reviews of actual performance,
Reviews by management at the functional or activity level,
Management of human capital,
Controls over information processing,
Physical control over vulnerable assets,
Establishment and review of performance measures ...
This explains the Accounting information systems
The solution has only Book reference.