SMW’s Current Accounting Information System:
SMW is a wholesaler of specialty micro-brewed beers. SMW purchases bottles and kegs of beer from small microbreweries in the New England area and sells them to local liquor retailers in Boston. SMW’s slogan is “Always in-stock, next day delivery.” Ted Stern, SMW’s owner and CEO, hopes to expand sales to outside of the Boston metro area within one year.
SMW operates as a sole proprietorship. Ted Stern is the owner and CEO. In addition to Ted, SMW has 6 full-time employees.
SMW has recently experienced some employee turnover. SMW’s longtime bookkeeper was fired by Ted after he discovered she was falsifying records and stealing money. Ted also fired the longtime warehouse manager for theft of merchandise. Both positions have been refilled and Ted now performs thorough background checks on all employees prior to hiring.
SMW’s current accounting information system is a cutting edge relational database system through Microsoft Access with internal controls set to adequately prevent and detect errors and fraud. This relational database system tracks sales orders, shipments, accounts receivable, cash receipts, purchases, accounts payable, cash disbursements, inventory levels and other relevant accounting information. The system’s output is compliant with Generally Accepted Accounting Principles (GAAP). The database processes currently in use at SMW are described below.
Revenue Cycle
Order Processing
Maura McGovern
Romney, M., & Steinbart, P. (2012). Accounting information systems. (12th ed., p. 143). Upper Saddle River, NJ: Prentice Hall.
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