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Systems Documentation and Internal Controls

   

Added on  2020-03-23

6 Pages1508 Words118 Views
Systems Documentation and Internal Controls

Table of ContentsSummarized overview of the Revenue Cycle:.............................................................................................3Internal control weaknesses.........................................................................................................................3Impact these weaknesses.............................................................................................................................4Specific internal controls to be implemented...............................................................................................4A brief overview of the Ransomware attack:...............................................................................................4Protect the organization from a potential Ransomware attack.....................................................................5References...................................................................................................................................................7

Motherboards and More Pty LtdSummarized overview of the Revenue Cycle:Motherboards and More Pty Ltd is a medium-sized organization in the industry of manufacturingcomputer parts like motherboards, graphics cards, microchips etc. The organization uses an ERPsystem to maintain its function for supply, manufacture and receiving data from otherdepartments located in remote places. The orders of the company placed via email or phone call.The supply chain and manufacturing of the orders received from customers are picked byalphabetically and processed via various manufacturing and loading dock in an alphabetic orderby customer name. The invoices will be generated after the shipment of the order so all the salesorder is on credit for this organization. The company in the present case analysis is facing outcertain internal control weaknesses in regards to control and other network related security. Internal control weaknessesThere is some of the weakness found in the current system in order to the analysis of theorganization revenue cycle.The invoice generated after the shipment of the order of the customers which affect theorganization revenue because the invoice will be generated only for a number of orders that aredelivered to customers, not the back order (Romney & Steinbart, 2012).The orders of the customer are received by telephone or email so it is hard to maintain the emailconversation for the specification provided by customers and amount of order given. There is achance of errors while getting the details of customer and the order from email and process it forshipment if the volume of order in increased (Li, et. al., 2012).If frequent orders from the same customer occurred than it is hard to segregate the orders fromthe same customer.In the case of frequent orders, the shipment of orders given by another customer will get delayeddue to the alphabetic sequence of the customer (Hammersley, et. al., 2008).

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