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Information System solution, but error in

SUMMARY CH. 13 inventory management still
The Expenditure Cycle: can occur because the
Purchasing to Cash Disbursements cashier manually input the
quantity (different flavors
Expenditure Cycle Information System doesnt matter). It may
- Process: lead to correct amount of
o Ordering money but incorrect
o Receiving quantity control
o Approving Supplier Invoices o Periodically count on hand
o Cash Disbursement inventory,compare with
- Thread & Controls perpetual (interim).
GAMBAR 2. Purchasing unurgent items.
Ordering Materials, Supplies, and o Approval of purchase
Services requisitions
Identifying what,when,how o Centralized purchasing
- Process item to omit multiple
o EOQ (economic order purchases
quantity) how much to Choosing Supplier
order. Depends on - Process:
ordering, carrying, and o Price
stockout costs Blanket purchase order
o Reorder Point when to agreement to purchase at
order. Depends on delivery specified price
time and desired level of Vendor-managed Inventory
safety stock suppliers are given
o MRP (materials access, so automatically
requirements planning) restock (cuts carrying cost
accurate sales forecasting & processing cost by
to better schedule eliminating the need of
purchases, to carry less formal purchase order)
inventory o Quality (cost of scrap and
o JIT purchasing & rework),
producing goods only for o Dependability in deliveries
actual rather than (time to deliver).
forecasted sales. But it
need to carry sufficient raw - Threats & Control:
materials to response the 1. Purchasing items at inflated
customer demand price (company must secure
- Thread & Control the best price)
1. Inaccurate inventory records o Price list
stockouts / excess: increase o Review purchase order
costs o Compare actual with
o Perpetual inventory budget allowance
o IT to minimize the
possibility of human error.
Barcode is one of the
Athiyya Nabila Ayu
Romney Accouting Information System
2. Purchasing goods of inferior 2. Mistakes in Counting Items
quality Received
o Purchasing from approved o To encourage receiving
supplier clerk count correctly,
o Review new supplier company let the quantity
o Purchasing manager ordered field remain blank
responsible to rework and o Sign / enter employee ID to
scrap cost receiving report system
o Monitoring product quality o Offer bonus when they
(tracking how often its catch discrepancies
items are under standard) between packing slip &
3. Unreliable Performance by actual order
Supplier o Use barcode
o ISO 9000 o ERP system to flag
o Track supplier performance discrepancies
(compare promise with 3. Verifying Receipt of Services
delivery date) 4. Theft of Inventory
4. Purchasing from Unauthorized o Restricted access
Suppliers o All transfer should be
o Prevent issuing PO to documented
supplier that out of the list o Periodically count
o Review PO inventory in hand
5. Kickbacks (kolusi) o Segregation of duties
o Prohibit accepting any gift Approving Supplier Invoices
o Job rotation - Process
o Supplier required to assign AP department approve supplier
annual conflict of interest invoices matching it with PO and
statement receiving report
Receiving Advantage of voucher systems:
- Process - Reduce number of check need to
Delivery arrive receiving clerk be written
compare PO on packing slip VS - Disbursement voucher can be
open purchase order file count prenumbered to simplify tracking
make receiving report (date of payables
received, supplier, PO number, - Voucher indicates that the invoices
quantity) already approved for payment

If there are damaged goods, Alternative way to eliminate supplier
incorrect quantity amount put it invoice:
in the debit memo Evaluated Receipt Settlement (ERS)
ERS replaces the traditional three-way
- Threat & Control matching process (supplier invoice,
1. Accept unordered goods receiving report, and purchase order)
o Receiving department with two-way match of the purchase
should only accept within order and receiving report.
approved PO (they can
open PO file)
Athiyya Nabila Ayu
Romney Accouting Information System
Cash Disbursement
- Process
The cashier, who reports to the
treasurer, is responsible for paying

Segregates the custody function
(cashier) from the authorization
and recording functions
(purchasing and accounts payable
- Threat & Control
1. Fail to take purchase discount
o Print periodic list of invoice
o Cash flow budget
2. Paying for goods not received
o Inventory control
department need to verify
the quantities on receiving
o Budgetary controls
o Reimbursement of
Employees travel not
only airplane recept but
also conference agenda
o Use corporate credit card
ex: employee stay in
cheap hotel but asked
- Threat & Control reimbursement for
1. Error in Supplier Invoices expensive one
o Check mathematical 3. Duplicate payment
accuracy o Approve invoice only when
o Card purchases keep accompanied with
receipt & verify with complete voucher
monthly statement o Original copy
o Adopting the ERS approach 4. Theft of Funds
eliminates the potential o Restricted Access with
for errors in supplier password & ID to cash &
invoices because periodically count
companies pay by matching o Designate specific
counts of what they receive computer for mobile
with prices quoted when banking
the goods were ordered.
o Control access to supplier
master file

Athiyya Nabila Ayu
Romney Accouting Information System