The Soap Manufacturing Company has three employees who work in the warehouse. All of the warehouse workers are authorized to order inventory when it falls below the reorder level. The workers complete a purchase order and mail it to the supplier of their choice. The inventory is delivered directly to the warehouse. The workers send a memo to accounts payable reporting the receipt of inventory. Accounts payable compar es the warehouse memo to the supplier’s invoice. Accounts payable prepares a check which the treasurer signs. a)Based on your point of view, d iscuss FIVE (5) internal controls that being needed for improvements to the Soap Manufacturing Company. b)Discuss the documents related to the purchasing cycle in above case study.
The Soap Manufacturing Company has three employees who work in the warehouse. All of the warehouse workers are authorized to order inventory when it falls below the reorder level. The workers complete a purchase order and mail it to the supplier of their choice. The inventory is delivered directly to the warehouse. The workers send a memo to accounts payable reporting the receipt of inventory. Accounts payable compar es the warehouse memo to the supplier’s invoice. Accounts payable prepares a check which the treasurer signs.
a)Based on your point of view, d iscuss FIVE (5) internal controls that being needed for improvements to the Soap Manufacturing Company.
b)Discuss the documents related to the purchasing cycle in above case study.
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