Accounts receivable

This project is the analysis of two different ERP systems, Microsoft Dynamics GP10 and SAP ERP Release 6.0. More specifically, the comparison of the accounts receivables and reporting functions in both systems are part of this in-depth analysis, concluding with a summery with considerations on the better system for managing the accounts receivables. Software Platforms Microsoft More than 41,000 customers throughout the world use Microsoft Dynamics GP 10, which is the software solution discussed

reported as cash. 1.Checking account balance $925,000; certificate of deposit $1,400,000; cash advance to subsidiary of $980,000; utility deposit paid to gas company $180. $ 2,325,000 Cash balance of $925,000. Only the checking account balance should be reported as cash. The certificates of deposit should be reported as a temporary investment, the cash advance to subsidiary should be reported as accounts receivable, and the utility deposit should be identified as a receivable from the gas company.

cash receipts. The primary accounts affected by these transactions are sales, accounts receivable, cost of sales, inventory, cash, sales discounts, sales returns and allowances, bad debts expense, and allowance for uncollectable accounts Specific audit objectives for the revenue cycle are derived from the five categories of management 's financial statement assertions. b. Specific audit

456 Chapter Eleven Appendix 11B Illustrative Audit Case: Keystone Computers & Networks, Inc. Part III: Substantive Tests—Accounts Receivable and Revenue This part of the audit case illustrates the manner in which the auditors design substantive tests of balances. The substantive tests are illustrated for two accounts—receivables and revenue. This aspect of the audit is illustrated with the following audit documentation: • ABC’s risk assessment working paper that combines the auditors’ assessments

dealing with the problems with accounts receivable and with unsold merchandise. Construct the balanced scorecard following the format used in Exhibit 12—8. Do not be concerned with whether a specific performance measure falls within the learning and growth, internal business process, customer, or financial perspective.

Account receivables Horizontal analysis Starbucks Corps had its gross account receivables for the year 2015 increase by 14.44% which led to its net receivables increase by $88,000,000 which translates to an increase of 13.95% of the net account receivables. This was followed by an increase in doubtful debts through the previous year by 6.12% to %6,700,000 from the ear 2014. This is due to the increase in the number also sales which led to the increase in account receivables and also doubtful debts

a. debit Sales; credit Cash b. debit Cash; credit Accounts Receivable c. debit Cash; credit Sales d. debit Accounts Receivable; credit Cash 43. Accompanying the bank statement was a credit memo for a short-term note collected by the bank for the company. This item is a(n) a. deduction from the balance per company's records b. addition

manufacturer. Operating cycle, cash conversion cycle, and negotiated financing needed are determined and compared with industry practices. The student then analyzes the impact of changing the firm’s credit terms to evaluate its management of accounts receivable before making a recommendation. a. Operating cycle (OC) average age of inventory  average collection period  110 days  75 days  185 days Cash conversion cycle (CCC) OCaverage payment period 185 days30 days 155

different aspects of the businesses accounts. The accounting topics covered are the Accounting Cycle; the steps that account for recording all types of transactions in the books. Merchandising Operations; involve the inventorial decisions businesses make on the daily basis and the tracking of inventory. Internal Cash and Control; is the safeguarding of cash, efficiency of operations and reliability of the books. Receivables; the promises of payments on account, the advantages of getting paid or risks

in the accounts receivable master file and are correctly summarized (Posting and Summarization). b. Examine evidence that the accounts receivable master file to the general ledger for accounts receivable. c. The accounts receivable master file does not reflect transactions that are included in the ending accounts receivable general ledger balance. d. Compare the dates of entry in the sales journal for a sample of sales transactions to the date the transactions are posted in the accounts receivable