...The purpose of this matrix is to provide guidance to those personnel involved with receiving or accepting goods and materials on behalf of the Maricopa Community College District. Best business practices support that receiving be completed through a centralized function and location. Such guidance helps ensure that the following “Key Control Objectives” and “Process Attributes” are achieved. • Goods are purchased only with proper authorization. o Goods compared to purchase orders or other purchase authorization before acceptance. o Unmatched receivers investigated; Unauthorized items identified for return to vendor. o Receipts under blanket purchase orders monitored; Quantities exceeding authorized total returned to vendor. • Goods received are recorded correctly as to account, amount, and period. o Goods counted, inspected and compared to packing slips before acceptance. o Receiving reports issued by receiving/ inspection department in pre-numbered order. o Receiving documentation, purchase order, and invoice matched before recording liability. This matrix serves to provide guidelines in which the order of steps completed may vary depending on college and circumstances. Goods POs/LPOs – Non-Capital |Non-capital and delivered to Central Receiving |Inspect for proper addressing before acceptance...
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...Production Go Live Checklist Dependency Status Responsible Group/ Person Comments Hardware Setup Time System Server Setup, OS Build, connections Setup and Test printers APO server setup; Optimizer Cache server setup Document server setup Printer Server Setup Coordinate activities between HR go live and other SAP go live related to hardware, dual clocks, etc. Engineering Drawing Package(s) Server setup Set batch jobs printers Hardware Purchased (PCs, Printers, Clocks, Labor Collection) CHECKPOINT: Hardware Is Installed, Time System Clocks Ready Mass Transport to Production (48 hrs) LOAD SETUP IN SAP PROD Open Client for Manual Numbers set Change customer number range to external Check various Number Ranges Add "plant" vendors Change vendor number range to external Manual - Number Range Batch Manual - Number Range Tranfer Requirement & Transfer Order Update table T185 as per SAP note 847810 Create Bin Numbers Set A/P Check Number Activate various conversion exit Change material number range to external APO-R/3 Basis connection settings Finance Setup Activate Material Ledger Activity Types Check FICO Number Ranges Co-PA activation Cost center hierarchy Cost element Groups Load Chart of Accounts Load Cost Centers Load Profit Centers Open MM Periods Primary and Secondary Cost Elements SET FI Periods APO & General Setup SETUP activate integration models create alert profiles Start Date Start Time Finish Time Finish Date Activity Production Go Live Checklist...
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...Controls for Outflows Biniyam Beyene, Christie Ferrell, Gabriel Mendoza and Paula Strahl ACC/544 May 2, 2015 Professor Tracie Youngblood Controls for Outflows Purchasing, accounts payable, cash disbursements, finance, investment, and payroll are key components to a successful and efficient business. Internal controls are needed in these outflow process to prevent fraud and theft within the business. The follow proposal will list the types of controls that are needed and reason for the controls. Finance One of the things that cannot be overlooked when it comes to controls is finance. Finance is the lifeblood of an organization. Without proper controls and functionality and control, a company’s finances can be out of distorted and may cause a business to possibly go under and close for business. One of the things that a business can do with controlling its finances is to have more than one person of management sign off on orders that have to do with financial transactions. An example of this would be a work or purchase order. This is something that should be controlled and documented by more than one person of management. The last thing that upper management wants to see is a mess of finances where one individual may end up taking too much control and could very well not be aware of the right amount of inventory they could be purchasing where there may not be a need. A second person can look over the order themselves and may have the ability to...
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...What is the Fraud? The fraud consists of Equipment Overshipping and a kickback scheme. Who is involved? Charlie Thurgood and Ben Hill. How was it done? The first two months, April and May, TBC used Sports Chalet as its equipment vendor, however for the last two months, Ben Hill has diverted the business to Sports Equipment for no credible reason besides that Charlie is his friend, in the catalog there are no price differences between the two. Michele would submit the purchase order to Ben, so Ben had a chance to recreate purchase orders since they are left open and increase the orders. He would change the quantities ordered and told charlie to falsify the invoices. Charlie would also swap the shipping slips and the invoices so they would match TBC's records and alter the price on the invoice so the same total would be charged. Charlie and Ben could then fence the excess goods and divide the money. What is the economic impact of the fraud for the last 4 months? This fraud has cost the Tallahassee Beancounters $4,150 dollars since it began in June. How can this fraud be corrected? Ben had an overlapping authority when it came to choosing vendors, handling purchase orders, and paying vendors. By having access to all of these it was far too easy for him to use his position for fraud. Asking for the lost revenue back or possibly suing them for it. Sports Equipment could also be forced to deliver the amount of goods that appeared on the...
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...Date: October 10, 2011 From: Rachael Melendez To: PwC Auditor Introduction BLUE Company operates under an enterprise planning system which allows an organization to automate and integrate its essential business processes. There are many weaknesses within BLUE’s expenditure process that lead to potential risks. The internal controls in this company are poor; for example, certain departments are authorized too much power, such as the purchasing clerk and the cash disbursement department. These duties need to be segregated among other departments. By pre-approving transactions, such as an approved vendor list, preventative controls can eliminate the ability to engage in fraudulent activities. Also, this company needs to engage in a system of checks and balances among each department to ensure validity, accuracy and completeness. Analysis The first step in the expenditure process may create issues. All the employees should not have access to create a purchase requisition. For example, how can an employee that works in the cash disbursement department know about the inventory levels and make a purchase requisition. BLUE Company is lacking an inventory control department; this needs to be incorporated. BLUE Company should limit the number of employees with the access to create a purchase requisition within the inventory control department. Unauthorized access exposes assets to misappropriation, damage, and theft. By incorporating access controls, BLUE Company may be able to...
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...Chapter 4 The Procurement Process Multiple Choice Questions | 1. |Which one of the following is not a type of organizational data that is utilized in the procurement process? | | | | | |Client | | |Company Code | | |Storage Location | | |Purchasing Organization | | |Manufacturing Plant | | | | | |Answer: e Difficulty: Easy Page Reference: 2 | | |Section: Organizational Data Practice: ...
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...Strategy & Technology Pg 69-77 Major sources of competitive advantage Brand Scale Switching Costs & Data Differentiation Network Effects Distribution Channels Brand A firm’s brand is the symbolic embodiment of all the information connected with a product or service. A strong brand proxies quality and inspires trust Viral Marketing (consumer promotes product or service if a firm performs well) Brands Amazon eBay Google Viral Marketing Google Hotmail Skype eBay Facebook YouTube Scale Business benefit from economies of scale when the cost of an investment can be spread across increasing units of production or in serving a growing customer base. A growing firm may also gain bargaining power with its suppliers or buyers. Scale of technology of investment can also act as a barrier to entry, discouraging new, smaller competitors. Economies of scale BlueNile (sold as many diamonds in 1 year with one location as a traditional jeweler would with 116 stores.) Bargaining power with suppliers or buyers Dell (make concessions) eBay (raise auction fees) Scale of technology Intel (pioneer in cutting edge technologies) Google (runs on an estimated 450,000 to 1 Mio servers) Switching costs & data Switching costs exist when consumers incur an expense to move from one product to another. Data can be a particularly strong switching cost for firms leveraging technology. In order to win customers from an established incumbent, a late-entering rival must offer a product...
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...WEEK 7: Network Markets & Disruptive Technological Changes (Microsoft in Thailand, Motorola/Noka) Network Markets – S-curve of P(join) vs. installed base • Tipping depends on taste for variety vs. network externalities o Adjusted price adjusted for market share • Direct network effects – benefit of more users. Indirect effects – Growth of complementary products and services on the larger platform (iPhone, HD-DVD) • Use switching cost to lock in early market share gains, create competition through licensing Disruptive Technological Changes Timing is everything, incumbency power diminished, harder to manage judo attacks Innovate Inside • Incumbency advantage of size, market knowledge, reputation/brand recognition, experience, access to funding, distribution & supplier resources • Incumbents face replacement effect – new product cannibalizes profits from established markets, but this ignores the competition effect - innovators will enter and undermine his franchise, so incumbent might as well preempt by innovating. • Network effects/uncertainty about tipping + increasing returns/internal hurdle rate is a virtuous cycle that is challenging to incumbent’s desire to invest Wait and See – Jump on the bandwagon if innovation proves viable • Network effects and other customer lock-in – challengers may convert early lead into sustainable advantage • If early advantage can be neutralized, then this strategy has real option value • Can the threat be isolated into...
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...2015-‐09-‐13 + How do you analyze a case? + Analyzing a Case 2 A. Identifying the issues B. Analyzing the case (qualitative & quantitative) C. Generating alternatives D. Analyzing and evaluating alternatives E. Selecting the preferred alternative F. Developing an action & implementation plan 1 2015-‐09-‐13 + 3 Let’s use a case as an example … Porsche Canada: + Selling Winter Driving 4 2 2015-‐09-‐13 + 5 Porsche Canada: Selling Winter Driving n Jasmin Rawlinson (Director of Marketing for Porsche Canada) asks: “How can we encourage Canadians to drive their Porsche vehicles in winter?” n Opportunity: creation of a new category of product (winter equipment) and new car sales to buyers who had not previously considered Porsche as a 4-season car; new service revenue n Challenges: overcoming a long-held consumer perception; limited marketing budget ($500K) due to recent sales drop (15%) n Timeframe: July 2009 n + Dealing with past time frames? A. Identifying the Issues 6 importance low high high III IV low I II urgency 3 2015-‐09-‐13 + 7 B. Analysis - Qualitative n SWOT n Internal analysis: Strengths & Weaknesses n External + analysis: Opportunities & Threats 8 B. Qualitative Analysis n Porter’s n 5-Forces The collective strength of the...
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...Marketing Mix and Communications Ashley Klinger Marketing on the Internet- 2 Instructor: Lori Wortylko Competing with Cisco What companies are Nortel’s major competitors? Nortel network’s three major competitors are Cisco Systems, Inc., Alcatel Lucent Nokia Solutions and Networks B.V. Is Cisco among them? Yes Cisco is one of Nortel Network’s major competitors. According to Hoovers.com, Cisco is the number one competitor for Nortel. I could not find much about Nortel being in competition with Cisco because Nortel has since went bankrupt. There were so many things that Nortel was doing wrong. So because of that alone, Nortel was no real competition for Cisco. Nortel had a large security breach that was caught in 2004. There were malicious hackers who had gained access to all of Nortel’s documents like emails and ideas. It went on for what is believed to be around ten years or so. By the time Nortel started to sell off its assets in 2009, the hackers had still not been caught. What types of marketing jobs are available? I found a lot of marketing based jobs available on Cisco’s website. I chose Technical Marketing Engineer. The minimum job requirements are: * Experience designing and implementing data center infrastructures. * Experience with Cisco Unified Computing System (UCS). * Strong background on various hypervisor technologies. * Ability to set and meet deadlines. * Excellent troubleshooting and problem-solving skills. ...
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...Finance 560 Securities Analysis Course Project: Stock Analysis – Cisco Systems, Inc. (CSCO) Company’s Summary Cisco Systems, Inc. designs, manufactures, and sells Internet protocol (IP)-based networking and other products related to the communications and information technology industry worldwide. It offers routers that interconnects public and private IP networks for mobile, data, voice, and video applications; switching products, which provide connectivity to end users, workstations, IP phones, access points, and servers; application networking services; and home networking products, such as adapters, gateways, modems, and home network management software. The company also offers security products comprising span firewall, intrusion prevention, remote access, virtual private network, unified client, Web, and email security and network security products; storage area networking products for data center environments that deliver connectivity between servers and storage systems; collaboration products to integrate voice, video, data, and mobile applications on fixed and mobile networks; video connected home products, including digital video distribution systems and digital interactive set-top boxes; and wireless systems. In addition, it provides optical networking products, Cisco TelePresence systems, Cisco Unified Computing Systems, physical security and video surveillances, and digital media systems. Further, the company offers technical support services; and responsive...
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...theme Revenue Recognition R evenue is usually the largest single item in financial statements, and the issues involving revenue recognition are among the most important and difficult ones that standardsetters and accountants face. In recent years, concerns related to the recognition of revenue in accordance with Accounting Standards have heightened significantly. Quite often, companies end up tweaking the Revenue numbers, besides some other reasons. Recording revenue improperly is also a commonly used ‘earnings management technique’. The ever evolving business models and the growing online economy have only compounded the issue. Earnings Management/Issues with revenue recognition have been the subject of headlines in the United States and in the other parts of the world in the last few years. -Shrikant Sortur The author is a member of the Institute as well as AICPA, working with Lason Systems Inc, MI, USA. He can be reached at shrikant_ sortur@yahoo.com Revenue Recognition Under US GAAP It is estimated that Revenue Recognition related aspects appear in close to two hundred different pieces of accounting literature; of course these pieces of literature include many nuances, some of which are unique to particular transactions. Since no comprehensive standard on revenue recognition exists, there is a significant gap between the broad conceptual guidance in the Financial International Accounting Standards (IAS) are drafted on a ‘Principles-based’ approach....
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...Multiple-Element Arrangement Velocity Cellular Services is planning the rollout of a new prepaid phone service called Power Starterpack. Using the current, relevant accounting guidance, determine and support the appropriate method for recognizing revenue for this new product. Power Starterpack Details Velocity Cellular sells the Power Starterpack for $200. The Power Starterpack consists of two elements: a new activation card and a prepaid voucher for $50 worth of airtime. The new activation card allows the subscriber’s cellular phone to function and gives the subscriber additional features not available with the old activation card. Activation cards can be purchased separately from Velocity. Identical activation cards can be purchased from other vendors. The $50 prepaid airtime voucher must be used within 360 days or the remaining value is forfeited. If there is no activity for seven consecutive months, the subscriber’s account is closed and the phone number is deactivated. No refunds are given and the subscriber has no general rights of return for the Power Starterpack. Are the Deliverables Considered Separate Units of Accounting? Velocity Cellular adopted ASU 2009-13, “Revenue Arrangements with Multiple Deliverables” in the current fiscal year. The Update amends the criteria in Subtopic 605-25 for separating revenue in multiple-deliverable arrangements. The amendments replace the use of the fair value of deliverables with the selling price of the deliverables. This change allows the...
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...I. Succinct The case present a company named Lighthouse that it business specializes as a provider of locating services for the shipping industry. The services comprise of a one-way messaging service that routes messages from the ships at sea to the shipping company’s offices. The messages provide the shipping company detailed information regarding to ship location, speed and current local weather. The way the system works for gathering the ships data is, by installing a device as a dedicated hardware unit in the ships that serves as tracing device in which Lighthouse rendered the services, Lighthouse will connect the device to its service. Before the Ship Finder service can put in place the company required to customers sign two contracts, one for the sale of the devices and the other governing the provision of the service. The service contracts generally have duration twelve months and are billed monthly, customer may terminate the services at any time but the amounts paid for the devices are nonrefundable. The Lighthouse devices are made to be used exclusively with the Lighthouse services, the standard pricing for the Ship Finder Device are $10,000 per unit (MSRP) and for the Ship Finder Service are $300 a fixed monthly payments per unit. Payments for the devices are due upon completion of the installation and final acceptance by the customer. The services are priced at standard rates although discounts are offered; depending on the number of devices sold...
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...the case, each Power Starterpack prepaid phone service plan includes an activation card and an airtime voucher. As addressed in the ASC 605-25-25-5, in an arrangement with multiple deliverables, the delivered item or items shall be considered a separate unit of accounting if both of the following criteria are met: a. The delivered item or items have value to the customer on a standalone basis. The item or items have value on a standalone basis if they are sold separately by any vendor or the customer could resell the delivered item(s) on a standalone basis. In the context of a customer's ability to resell the delivered item(s), this criterion does not require the existence of an observable market for the deliverable(s). b. Subparagraph superseded by Accounting Standards Update No. 2009-13. c. If the arrangement includes a general right of return relative to the delivered item, delivery or performance of the undelivered item or items is considered probable and substantially in the control of the vendor. Both the activation card and the prepaid airtime voucher have standalone value to the customer. The activation card has a standalone value since it can be purchased through other independent wireless phone retailers. Furthermore, current subscribers can purchase a new card from Velocity if their card was lost or damaged. So the first condition is met. There is no general right of return in this case, so the second condition does not apply. This arrangement meets the criteria...
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