Revenues and Receivables

Sub-Processes 1

100

Create sales order Ship and create invoice Post accounting entry

Put these in order for the invoicing process - -Ship & create invoice -Post accounting entry -Create sales order

200

Sales Returns

Which sub-process is this aspect associated with? - Price on return should equal original amount recorded

Sub-Processes 2

100

1. Customer requirements 2. Order creation 3. Monitoring

List the three steps in the ordering sub-process

200

Ordering, invoicing, sales returns, cash receipts, bad debts, rebates, and adjustments & period end close

Name three of the Revenues and Receivables sub-processes?

Fraud/Operational Considerations

100

Fraud consideration

Cash receipts susceptible to misappropriation - is this a fraud consideration or an operational risk?

200

Operational risk

Inability to fulfil orders due to stock shortages - is this a fraud consideration or operational risk?

Master Data

100

Customer master file, price master data, contracts master file, product master file

Name 2 types of Master Data

200

Customer Master File

What type of master data would "Bank Account Information" be?

Financial Risks

100

Accuracy, Completeness, Cut-off, and Existence/Occurence

What are the 4 assertions that are associated with Revenue & Receivables sub-processes?

200

Invoicing, Sales Returns, Bad Debts, and Adjustments and Period End Close

Name 2 of the Revenue and Receivables sub-processes that have financial risks

300

Cutoff

When adjustments and manual journal entries are recorded in the wrong period, what is affected? (Name the assertion)

400

Completeness

When invoices are not recorded, what is affected? (Name the assertion)