Chapter 15

Question 1

Expenditure cycle´s four basic activities

Answer 1

1. Ordering materials, supplies and services
2. Receiving material, supplies and services
3. Approving supplier invoices
4. Cash disbursements

Question 2

Generella hot

Answer 2

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

Question 3

Sätt att hantera de generella hoten

Answer 3

• rutiner för att säkerställa inga brister i datasystemet
• rutiner för access till data
• övervakning av uppdateringar och dess konsekvenser
• Rutiner för att hålla koll på känslig information
• rutiner för backup och hantering vid krascher
• avstämningar med tydlighet i ansvar

Question 4

(1) Ordering materials, supplies and services - två delar

Answer 4

1. Ta beslut om vad som behövs beställas
2. Välja leverantörer

Question 5

Approaches to inventory - EQO

Answer 5

Economic order Quantity - calculating optimal order size to minimise the sum of ordering, carrying and stockout costs

Question 6

Approaches to inventory - MRP

Answer 6

Materials requirements planning - seeks to reduce required inventory levels by improving the accuracy of forecasting techniques to better scuedule purchases to satisfy production needs

Question 7

Approaches to inventory - JIT

Answer 7

Just-in-time inventory system - eliminates invetories by purchasing and producing goods only in respones to actual sales

Question 8

Purchase requisiton

Answer 8

a document or electronic form that identifies the requisitioner; the delivery location and date needed, item numbers etc - minimise the amount of data that must be manually entered improves efficiency

Question 9

Factors considered when selecting suppliers

Answer 9

Price, quality and dependability in making deliveries

Question 10

Blanket purchase order /blanket order

Answer 10

a commitment to purchase specified items at designated prices from a particular supplier for a set time period

Question 11

Vendor-managed inventory (VMI)

Answer 11

when manufacturers and distributors manage retail customer´s inventory using EDI

Question 12

Reverse auctions

Answer 12

reduces purchasing-related expenses since suppliers compete to meet demand at the lowest price

Question 13

Pre-award audit

Answer 13

internal auditors visits each potential supplier to verify the accuracy of its bid

Question 14

(1) Ordering materials, supplies and services - hot

Answer 14

• Bristfällig lageröversikt
• Överflödig beställning
• inköp vid prisrörelser
• inköp av dålig kvalitet
  -opålitliga leverantörer
• inköp av icke godkända
• kickbacks

Question 15

(2) Receiving - två delar

Answer 15

• central ordermottagning
• fördelning internt

Question 16

Receiving report

Answer 16

a document that records details about each delivery, including the date received, shipper, supplier and quanity received

Question 17

(2) Receiving - three problems when receiving

Answer 17

• wrong quantity
• damaged goods
• inferior quality

Question 18

Debit memo

Answer 18

a document used to record a reduction to the balance due to a supplier

Question 19

(2) Receiving - Hot

Answer 19

• acceptera icke beställd order
• misstag i kontroll av antal
• avsaknad av underlag
• stöld

Question 20

(3) Approving supplier invoices - who

Answer 20

leverantörsreskontraavdelningen godkänner leverantörsfakturor för betalning och har ansvar att matcha fakturan mot inköpsorder och leveranskvitto

Question 21

Voucher package

Answer 21

the combination of supplier invoice and associated supporting documentation used to authorise payment to a supplier (purchase order & receiving report)

Question 22

Metoder för att hantera fakturorna

Answer 22

• nonvoucher system
• voucher system
• evaluated receipt settlement ERS

Question 23

Nonvoucher system

Answer 23

each approved invoice is posted to individual supplier records in the accounts payable file and is then stored in an open-invoice file

Question 24

Evaluated receipt settlement (ERS)

Answer 24

an invoiceless approach to accounts payable that replaces the three-way matching process with a two-wat match of the purchase order and receiving report (no invoice)

Question 25

Voucher system

Answer 25

a disbursement voucher is prepared instead of posting invoices directly to supplier records in the accounts payable subsidiary ledger. The disbursement voucher identifies the supplier, lists the outstanding invoices and indicates the net amount to be paid

Question 26

Procurement card

Answer 26

a corporate credit card that employees can use only at designated supplies to purchase specific kinds of items

Question 27

(3) Approving supplier invoices - hot

Answer 27

- fel i underlaget - brister i bokföringen av leverantörsfakturor

Question 28

(4) Cashdisbursement - who

Answer 28

the cashier is responsible for paying suppliers, can be done with EFT, FEDI or by check

Question 29

Automated Clearing House (ACH) blocks

Answer 29

instructs banks to not allow ACH debits from specific accounts

Question 30

Imprest fund

Answer 30

a cash account with two charcteristics: - it it set at a fixed amount - voucher are required for every disbursement. At all times, the sum of cash plus vouchers should equal the present fund balance

Question 31

(4) Cashdisbursement - hot

Answer 31

- missade rabatter - betalning för ej erhållna varor - dubbelbetalning - stöld - problem med kassaflöde