Internal Control Weakness in Bell Studio's Accounting System

Running head: STRATEGIC INFORMATION SYSTEMS
Strategic Information Systems
Name of Student-
Name of University-
Author’s Note-

1STRATEGIC INFORMATION SYSTEMS
Executive Summary
This below discussed report consists of the working accounting process of the Bell
Studio. The Bell Studio consist of three different system that are explained in this
report related to the accounting system in the organization. Each of the processes
are explained in this report and states the internal control weakness that each of the
system processes in the organization. The internal control weakness of all the
systems are described in this system describing their mitigation process in the
system. All the mitigation processes are explained in this report.

2STRATEGIC INFORMATION SYSTEMS
Table of Contents
Introduction...................................................................................................................3
Data flow Diagram of Purchase and Cash Disbursement System...............................3
Data flow Diagram of Payroll System...........................................................................3
System Flowchart of System........................................................................................3
System Flowchart of Cash Disbursement system........................................................3
System Flowchart of Payroll System............................................................................3
Internal Control Weakness and Risks Associated.......................................................3
Conclusion....................................................................................................................3

3STRATEGIC INFORMATION SYSTEMS
Introduction
The background of the Bell Studio is taken in this report as case study. This
studio deals as a supplier of art materials. For conducting its processes, Bell Studio
has transaction cycles in which the vendors and the suppliers of the company are
paid for their supplies. The organization is an Adelaide based company of art
supplies. The manufacturers of the company are from different locations.
The company mainly has an accounting system that is centralized at all the
location of Bell Studio. The expenditure of the Bell Studio has different procedures
such as purchasing system, Cash disbursement system, and Payroll System. This
report describes different transaction cycles of the Bell Studio, the financial; reporting
system carried out in Bell Studio and the management system of the organization.
As the system of the Bell studio is based on the computer-based system, there is a
need to include many control processes that are to be included to overcome the
weakness of the current ERP system in the organization. This report defines all such
internal weakness of the system and states the steps that are to be taken to
overcome those problems.
Data flow Diagram of Purchase and Cash Disbursement System
Figure 1: Data Flow Diagram
(Source: Created By author)