Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
You are the internal auditor of SuperHero Ltd and you have made the following notes during the audit of the company’s inventory management activities: SuperHero Ltd’s raw materials are mainly high-cost electronic components. The raw materials are kept in a locked warehouse. The warehouse team has a manager and four clerks. Raw materials are removed from the warehouse only on written or oral authorization of one of the production supervisors of the factory. SuperHero Ltd uses a period inventory system. To compensate for the lack of perpetual records, a physical inventory count is taken monthly by the warehouse clerks. After the physical count, the warehouse manager matches quantities counted against a predetermined recorder level. If the count for a given component is below the reorder level, the manager enters the part number on a material requisition sheet and sends this form to the accounts payable clerk. The accounts payable clerk prepares a purchase order for a predetermined reorder quantity for each component using a purchasing information system and mails the purchase order to the vendor who supplies that component. When the ordered components arrive at the warehouse, they are received by the warehouse clerk. The clerks count the components and reconcile the counts with the supplier’s bill of lading. All suppliers’ bills of lading are initialized, dated and filed in the warehouse to serve as receiving reports
Required: a. Develop a flowchart for the inventory management process of SuperHero Ltd.
b. Develop a level 0 DFD and a context diagram for the inventory management process of SuperHero Ltd.
c. Identify five control weaknesses in the inventory management process of SuperHero Ltd.
d. Using COSO’s Internal Control Integrated Framework, suggest an appropriate control activity for each of the control weaknesses that you have identified in (a).
what other text books, journals, standards, and so on have you read that might help you think and explain complex projects?
Analyze the different approaches to innovation discussed in this chapter to determine which approach you think would be the greatest value to the greatest number of organizations. Explain your rationale.
Why did your team select the six team members? Why did you decide against the others?
Describe the generic product development process described in the chapter. How does the process change for "technology-push" products
Explain the meaning of an ethical issue. Identify the one non-ethical issue in the case scenario. Explain why.
The employer has offered to make a new contract that is less advantageous to the employee than the first contract.
What would be an appropriate reorder point? How does your answer change if demand during lead time doubles?
Why is it important to have a structured standardized approach to the procurement process?
Introduce the Dream Act. Background information/details surrounding the Dream Act. detailed discussion of opposing positions (why some people against the Dream Act.) Provide supporting information for opposing positions
Contract law requires that parties enter agreements ‘freely and voluntarily’. Explain why the consent to a contract should be ‘free and voluntary’ and discuss factors that affect the ‘free and voluntary consent’.
Formulator and implementer styles are essential to strategic management for all of the following reasons except. A formulator does all of the following except. A manager who makes a situation more efficient could be described as a(an)
Create a process mapping flowchart to measure operational data of the activity using Microsoft PowerPoint or Microsoft Visio.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd