Chapter 14

Question 1

Försäljningscykelns generella hot:

Answer 1

• felaktig eller ogiltig master data
• svagt eller inget skydd av känslig information
• data som går förlorad
• ineffektiva kontrollsystem

Question 2

Sätt att hantera de generella hoten:

Answer 2

• rutiner för att säkerställa inga brister
• rutiner för access till data
• övervakning av uppdateringar och konsekvenser av dessa
• rutiner för att säkerställa känslig information inom rimlig sfär
• rutiner för backup och hantering vid krascher
• avstämningar med tydlighet i ansvar

Question 3

The revenue cycle activities

Answer 3

1. Sales order entry
2. Shipping
3. Billing
4. Cash collections

Question 4

(1) Sales order entry - 4 steg

Answer 4

1. Receive order
2. Approve credit
3. Confirm assets in stock (kontrollera tillgångar)
4. Respond customer

Question 5

Eletronic data interchange (EDI)

Answer 5

Submitting order electronically in a format compatible with the company´s sales order processing system

Question 6

Accounts receivable aging report

Answer 6

a report listing customer account balances by length of time outstanding, used for monitoring accounts receivable

Question 7

Back order

Answer 7

a document authorising the purchase or production of items that is created when there is insufficient inventory to meet customer demand

Question 8

Picking ticket

Answer 8

when inventory availability has been determined a picking ticket including items and quantities is made to start shipping

Question 9

Customer relationship management (CRM) systems

Answer 9

software that organises information about customers in a manner that facilitates efficient and personalised service

Question 10

(1) Sales order entry - Hot

Answer 10

• Ofullständig eller felaktig orderdata
• Ogiltig order
• Ingen kontoinformation
• Brister i lagertillgång
• att förlora kunder som en effekt av missnöje kring orderplacering (CRM-system)

Question 11

(1) Sales order entry - sätt att hantera hot

Answer 11

• kontrolla av datainmatning
• behörighetsavgränsningar
• digital/manuell signering
• kreditlimit
• särskilt godkännande (ny kund/över kreditlimit)
• särskild kontroll av kundfordringar
• system för lagerinventering
• CRM-system

Question 12

(2) Shipping - 2 steg

Answer 12

1. Paketera order - triggered by sales order entry´s picking ticket
2. Utleverans - compare physical count with picking ticket

Question 13

Packing slip

Answer 13

a document listing the quantity and description of each item included in a shipment

Question 14

Bill of lading

Answer 14

a legal contract that defines responsibility for goods while they are in transit

Question 15

(2) Shipping - Hot

Answer 15

• Plocka fel vara eller fel antal
• Stöld
• Felaktigheter i leverans

Question 16

(2) Shipping - sätt att hantera hot

Answer 16

• streckkodsavlösning
• avstämning plocklista mot försäljningsorder
• dokumentation av lagerhantering
• restriktioner och kontroll
• databaserade system för utleverans
• kontroll av leverantörer

Question 17

(3) Billing - två delar

Answer 17

• Fakturering
• Hantering av kundfordringar - uses information on the sales invoices to debit customer accounts and subsequently credit those accounts when payments are received

Question 18

Sales invoice

Answer 18

a document notifying customers of the amount of a sale and where to send payment

Question 19

(3) Billing - Two ways to maintain accounts receivable

Answer 19

• Open-invocie method - customers pay according to each invoice, two copies sended where on is returned with payment (=remittance advice)
• Balance-forward method - customers pay according to the amount shown on a monthly statement

Question 20

(3) Billing - Hot

Answer 20

• Misslyckas att fakturera
• Fel i fakturering
• Felaktig inläggning av kundfordran
• Felaktiga eller ogiltiga kreditfakturor

Question 21

(3) Billing - sätt att hantera hot

Answer 21

• separering av fakturering och utskeppning
• konfiguration av system för att automatiskt mata in prisuppgifter
• Periodavstämningar
• avstämningar
• ansvarsuppdelning mellan kreditnotahantering och försäljningsorderinmatning & kundkontounderhåll

Question 22

(4) Cash collections - who

Answer 22

The cashier, who reports to the treasurer, handles customer remittances and deposits them in the bank, not the accounts receivable function due to risk of theft (they only receive remittance advice)

Question 23

(4) Cash collections - methods to identify source of remittance and the applicable invoices that should be credited

Answer 23

• two copies, one remittance advice
• remittance list
• photocopy all customer remittances

Question 24

Financial electronic data interchange (FEDI)

Answer 24

solves the problem of banks not having EDI capabilities necessary to process the related remittance data. Is a combination of EFT and EDI

Question 25

Factoring

Answer 25

selling accounts receivable at a discount to a firm that specialises in collections of past-due accounts

Question 26

(4) Cash collections - hot

Answer 26

- stöld - problem med kassaflöde

Question 27

(4) Cash collections - sätt att hantera hot

Answer 27

- ansvarsuppdelning! - använda elektroniska system - dubbelhantering av kontanter - korta kredittider - klara rutiner för påminnelser - kassaflödesplanering