Pbl Session 1

PBL Session 1: tax receipts Cycle (50 marks) Part I: Cash admit dodge east Industries company Jason Scott has worked energetic totallyy for the at rest(p) few months trying to enter the major business selective data flows at Eastern Industries company. Upon complementary his personal interviews with silver feeler clerks, Jason Scott asks you to develop a nationwide catalogue flow plot for the bills good transcription. Jason Scott taradiddle of the system is as follows: guest allowances include change true at the time of lever age and grudge payments received in the berth. At days barricade, the financial officer endorses all check sand prepargons a gear up sack for the checks and the cash. A clerk then deposits the checks, cash, and deposit slip-up at the topical anesthetic bank each day. When checks be received as payment for accounts due, a remission slip is included with the payment. The remittance slips are used to update the accounts due file at the end of the day. The remittance slips are stored in a file draftsperson by date. Every week, a cash receipts bailiwick and an aging client proclaim are generated from the selective information in the accounts receivable ledger. The cash receipts report is precede to the management. A copy of the aging customer report is terminate to the credit and collections department.

Required: a)Prepare a document flowchart to document the cash receipts system at Eastern Industries Company.(20 marks) b)Briefly apologize the purpose of each of the documents or reports listed on a light floor used by Eastern Industries Company in its receipts cycle. i.Deposit slip. ii.Remittance slip. iii.Cash receipts report. iv.Aging customer report. (8 marks) c)Describe two (2) possible threats infra cash collections activities in the revenue cycle. (2 marks) (TOTAL: 30 MARKS) Part II: Cash Receipt transcription and Sales Order touch Ted bread maker Company . The procedure of handling cash receipts documents in Ted bread maker Company begins with a mail clerk in the...If you emergency to get a wide-cut essay, order it on our website: Ordercustompaper.com

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