Accounting Information Systems: Procedures and Internal Controls of Adam and Co.

Running head: REPORT 0
ACCOUNTING INFORMATION SYSTEMS
SEPTEMBER 19, 2019
STUDENT DETAILS:

REPORT 1
Executive summary
The following parts states the three important procedures of accounting system of Adam and Co.
these three important procedures are cash disbursement, payroll system and purchases system.
This report states the flowcharts of these systems to describe work flow and the manner
information is handled as well as used by each stage in the said departmental procedure. These
flowcharts state the input and the output of all the procedures that is important to functioning of
the subsequent sections in demonstration. The internal controls of this departmental process are
depended on setting up to classifying the possible faults can present in the above mentioned
sections. The solutions aim to eliminate the risks that relate to these issues as well as faults or the
risks that can take place in upcoming period due to certain unexpected events.

REPORT 2
Contents
Introduction......................................................................................................................................3
Company background......................................................................................................................3
Purchases System of Adam and Co.................................................................................................4
Cash disbursements system-............................................................................................................7
Payroll System...............................................................................................................................10
Conclusion.....................................................................................................................................13
References......................................................................................................................................14

REPORT 3
Introduction
The centralizing accounting system is important because it ensures the constancy of data as well
as process flow in all the connotations. However, on the account of comprehensive variety
regarding this accounting system, this is very significant to have reasoning presentation for all
the systems (Zou, et. al, 2015). It will be helpful to increase the high-tiered administration for
attaining the outcomes based on clear areas resulting by the presentation, which requires prompt
notice. In the following report, the expenditure cycle procedures of Adam and Co, are discussed
and critically examined. The whole expenditure cycle has been categorised in different
departmental level procedures. These different departmental level procedures are depended on
payroll system, cash disbursement system as well as purchase system.
Company background
Adam and Co is known to be the industry wholesaler based out of Perth that takes in essential
requirements of purchase at international level from Thailand, China along with Vietnam. Adam
and Company has been built on basic belief of rendering the greater services along with
continuously increasing expectation of the clients (Ellies, 2017). The main purpose is to expect
as well as fulfil the requirements of the clients, whatever the plan for an upcoming period. The
client comes to Adam & Co for the reason that their requirements are extra ordinary. The bank
responds with service as well as solution that may be exactly tailored to match the clients from
private bank for making investment in the management as well as financial planning. Adam &