Miss Angela recently joined A2A Limited as an accounting clerk. As a part of the financial reporting process, she receives the following source documents to prepare journal vouchers for general ledger entries. purchase orders, sales invoices, and vendor invoices Angela posts the journal vouchers to the general ledger and the related subsidiary ledgers at the end of each day. Each month the clerk reconciles the subsidiary accounts to their control accounts in the general ledger to ensure that they balance. Required: Discuss any control weaknesses and risks associated with the accounting information system of A2A Limited
Miss Angela recently joined A2A Limited as an accounting clerk. As a part of the financial reporting process, she receives the following source documents to prepare journal vouchers for general ledger entries. purchase orders, sales invoices, and vendor invoices Angela posts the journal vouchers to the general ledger and the related subsidiary ledgers at the end of each day. Each month the clerk reconciles the subsidiary accounts to their control accounts in the general ledger to ensure that they balance. Required: Discuss any control weaknesses and risks associated with the accounting information system of A2A Limited
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter5: Accounting Systems
Section: Chapter Questions
Problem 17E: Transactions related to purchases and cash payments completed by Wisk Away Cleaning Services Inc....
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Miss Angela recently joined A2A Limited as an accounting clerk. As a part of the financial reporting process, she receives the following source documents to prepare journal vouchers for general ledger entries.
- purchase orders,
- sales invoices, and
- vendor invoices
Angela posts the journal vouchers to the general ledger and the related subsidiary ledgers at the end of each day. Each month the clerk reconciles the subsidiary accounts to their control accounts in the general ledger to ensure that they balance.
Required:
Discuss any control weaknesses and risks associated with the
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