Case Study- Adam & Co
Added on 2022-11-25
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Running head: CASE STUDY- ADAM & CO
Case study- Adam & Co
Name of the Student
Name of the University
Author Note
Case study- Adam & Co
Name of the Student
Name of the University
Author Note
![Case Study- Adam & Co_1](/_next/image/?url=https%3A%2F%2Fdesklib.com%2Fmedia%2Fimages%2Fbv%2Fc6f9f8bf23ad4ec0bad9272761b53485.jpg&w=3840&q=10)
CASE STUDY- ADAM & CO
Executive summary:
The paper demonstrate the application of the flowchart for explaining the process of
the different departments of the organization. Such analysis is based on the
information’s presented in the case study about Adam and Co that is engaged in
industrial supplies and has process its expenditure cycle with the help of three
departments. It has been found from the analysis of the systems that there exist risks
due to the existence of weakness in the internal control system.
Executive summary:
The paper demonstrate the application of the flowchart for explaining the process of
the different departments of the organization. Such analysis is based on the
information’s presented in the case study about Adam and Co that is engaged in
industrial supplies and has process its expenditure cycle with the help of three
departments. It has been found from the analysis of the systems that there exist risks
due to the existence of weakness in the internal control system.
![Case Study- Adam & Co_2](/_next/image/?url=https%3A%2F%2Fdesklib.com%2Fmedia%2Fimages%2Frl%2F61d08d7ba7334c768366713f81ab0367.jpg&w=3840&q=10)
CASE STUDY- ADAM & CO
Table of Contents
Introduction:..................................................................................................................2
Discussion:...................................................................................................................2
System flow chart of purchase system:........................................................................2
System flow chart of cash disbursement system:........................................................2
System flow chart of payroll system:............................................................................2
Identifying the internal control weakness in the system and its associated risks:.......2
Conclusion:...................................................................................................................2
Reference list:...............................................................................................................3
Table of Contents
Introduction:..................................................................................................................2
Discussion:...................................................................................................................2
System flow chart of purchase system:........................................................................2
System flow chart of cash disbursement system:........................................................2
System flow chart of payroll system:............................................................................2
Identifying the internal control weakness in the system and its associated risks:.......2
Conclusion:...................................................................................................................2
Reference list:...............................................................................................................3
![Case Study- Adam & Co_3](/_next/image/?url=https%3A%2F%2Fdesklib.com%2Fmedia%2Fimages%2Fjr%2Febb18ae1fa87495ba39852bface79373.jpg&w=3840&q=10)
CASE STUDY- ADAM & CO
Introduction:
The report is prepared for presenting to the managing director of Adam and
Co which is related to the evaluation of the risks, process and internal control of the
expenditure cycle procedures. Adam and Co is a wholesaler of industrial supplies
based in Perth, Australia. Sourcing of inventories is done by the company from the
manufacturers in Thailand, Vietnam and China. A centralized accounting system has
been adopted by the company which has a networked terminals located at different
location. The expenditure and cycle procedure of the company consist of three
systems which comprise of purchase system, payroll system and cash disbursement
system. A system of flow chart has been incorporated for explaining each system
separately. The flow chart diagram is used to represent the process of workflow and
a step by step approach for solving the task within any system (Bendovschi, 2015).
Discussion:
System flow chart of purchase system:
In this section, the purchase system of Adam and Co is evaluated by
describing the steps using the flow chart that identifies the process one by one. Such
diagrammatic representation assist the users in gaining a through understanding of
the system of purchase. The journey from the purchase system initiates from getting
an approval of the purchase order by creating purchase order, receiving invoice
getting delivery followed by the closure. The need of placing the order is identified by
the purchasing clerk when he checks for the inventory subsidiary ledger and when it
Introduction:
The report is prepared for presenting to the managing director of Adam and
Co which is related to the evaluation of the risks, process and internal control of the
expenditure cycle procedures. Adam and Co is a wholesaler of industrial supplies
based in Perth, Australia. Sourcing of inventories is done by the company from the
manufacturers in Thailand, Vietnam and China. A centralized accounting system has
been adopted by the company which has a networked terminals located at different
location. The expenditure and cycle procedure of the company consist of three
systems which comprise of purchase system, payroll system and cash disbursement
system. A system of flow chart has been incorporated for explaining each system
separately. The flow chart diagram is used to represent the process of workflow and
a step by step approach for solving the task within any system (Bendovschi, 2015).
Discussion:
System flow chart of purchase system:
In this section, the purchase system of Adam and Co is evaluated by
describing the steps using the flow chart that identifies the process one by one. Such
diagrammatic representation assist the users in gaining a through understanding of
the system of purchase. The journey from the purchase system initiates from getting
an approval of the purchase order by creating purchase order, receiving invoice
getting delivery followed by the closure. The need of placing the order is identified by
the purchasing clerk when he checks for the inventory subsidiary ledger and when it
![Case Study- Adam & Co_4](/_next/image/?url=https%3A%2F%2Fdesklib.com%2Fmedia%2Fimages%2Fwq%2Fcca6e8046fd9404083c268b1d439ad0c.jpg&w=3840&q=10)
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