Pbl Session 1

PBL Session 1: Revenue Cycle (50 marks) Part I: Cash admit System east Industries company Jason Scott has worked energetically for the bygone few months trying to document the major contrast info shines at Eastern Industries Company. Upon completing his personal interviews with eloquent improvement clerks, Jason Scott asks you to develop a comprehensive document flow diagram for the cash good system. Jason Scott narrative of the system is as follows: Customer payments include cash received at the magazine of purchase and grudge payments received in the mail. At solar days end, the financial officer endorses all check spinal column prep ares a deposit sack for the checks and the cash. A clerk accordingly deposits the checks, cash, and deposit slip at the local bank severally day. When checks are received as payment for accounts due, a forbearance slip is included with the payment. The remittance slips are utilise to update the accounts due file at t he end of the day. The remittance slips are stored in a file drawer by date. both week, a cash revenue report and an aging lymph node report are generated from the selective information in the accounts receivable ledger. The cash taxation report is direct to the management. A replicate of the aging customer report is move to the credit and collections department.

call for: a)Prepare a document flowchart to document the cash receipts system at Eastern Industries Company.(20 marks) b)Briefly explain the purpose of all(prenominal) of the documents or reports listed on a lower floor used by Eastern Industries Company in its receipts cycle. i.Deposit slip. ii.Remittance slip. iii.Cash receipts report. iv.Aging c! ustomer report. (8 marks) c)Describe two (2) possible threats under cash collections activities in the revenue cycle. (2 marks) (TOTAL: 30 MARKS) Part II: Cash communicate System and Sales Order Processing Ted bread churchman Company . The procedure of handling cash receipts documents in Ted Baker Company begins with a mail clerk in the...If you indispensableness to get a full essay, order it on our website: OrderEssay.net

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