Essay on Apollo Shoe Case Study

2962 Words Jul 6th, 2011 12 Pages
Date: Thu, 17 JAN 2008 7:42:53 +0000
From: "Darlene Wardlaw"
Subject: Understanding the Revenue Cycle

I’ve attached a Sales internal control questionnaire from another engagement that I think you can use for Apollo. You may want to talk to Karina Ramirez to get answers to the questions.

1. Complete the ICQ for Apollo. For “yes” answers, add a comment stating which department and clerk performs the function. For “no” answers, describe the possible “errors” or “frauds” that could occur because of the control weakness. 2. I’ve started a flowchart and listed some strengths and weaknesses, but had to leave before I could finish it. See if you need to add any more strengths and/or weaknesses that you find from
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| | |
| 9. Are sales prices and terms based on approved | | |
|standards? | | |
| 10. Are returned sales credits and other credits | | |
|supported by documentation as to receipt, condition, and | | |
|quantity, and approved by a responsible officer? | | |
| 11. Are shipped quantities compared to invoice | | |
|quantities? | | |
| 12. Are sales invoices checked for error in quantities, | | |
|prices, extensions and footing, and freight allowances, |

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