Accounting Info Systems Simulation Summary
Inner Control Systems are procedures put in place to guard the company. Inside the simulation, the job was given to aid a new organization set up an indoor control system, implement control procedures for specific interior control issues, and take care of the internal control system because the company keeps growing.
Ramos Foreign is an up and coming luxury hotel in Chesapeake, Virginia. The function given in this simulation is the Chief Economical Officer (CF), who is to aid put interior controls in position for this company. With any business, work projects are structured to separate activities between employees so no one staff has one control over a complete process.
There are three key processes to pay attention to, and they are getting, cash receipts, and salaries. In the ruse, job responsibilities had to be identified for each location within a particular department. For purchasing, it was identified the Merchandise Purchaser would concern the requisition, the Getting Manager will approve the invoice, the Accounting Attendant would update the Accounting Information System (AIS), and the Storekeeper might receive the products. The trademark these responsibilities proved to be powerful with minimal risk.
The second set of careers was in the money Receipts location. It was identified the Accounting Clerk could update the AIS, your head Cashier will make the deposit, and the Accounting Manager will manage the Bank Account. The third set of opportunities in the Payroll area where the Payroll Clerk would procedure time playing cards, the Salaries Manager might review salaries, the Accounting Clerk would update the AIS, as well as the Chief Monetary Officer would approve the payroll. Most of these divisions of responsibilities turned out to be effective with minimal risk.
Over the past 36 months, Ramos International has broadened by adding nine more hotels in 6 cities. The interior control system has not been in a position to keep up with the...
References: Bagranoff, N., Simkin, M., & Norman, C. (2008). Key concepts of accounting
information devices. New York: David Wiley & Sons, Inc.
University of Phoenix Simulation Exercise (2013). Retrieved from www.phoenix.edu.
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