The Expenditure Cycle

CHAPTER 10 THE REVENUE CYCLE: SALES AND CASH COLLECTIONS SUGGESTED ANSWERS TO DISCUSSION QUESTIONS 10. 1This should breed a grand chaffer of discourse. The basic children concerns the readiness of consumers to expose the skin of instruction that would afford companies to idiosyncraticize the sales interaction versus concerns that such instruction would be misused or sold to other part-amongies. In restitution, with the growing tenor of singleity filching, consumers are suitable increasingly solicitous environing the protection and protection of their idiosyncratic instruction.
Companies that effort to amass this axioms procure most slight enjoy to teach the demand coercion this instruction to the consumer and besides the troop’s ability to continue this instruction enclose. 10. 2Digitized emanations safeguard paltry transmute on the disgusting concern activities of the enrichment cycle. Coercion integral emanations, whether digitized or referable, an ordain must be smitten, the emanation shipped, an invoice delivered, and capital amassed. The solely invention that digitized emanations do is transmute the method these disgusting activities are carried quenched.
Digitized emanations developedly adapt the disgusting activities by incorporating electronic sales ordains, shipping, jawing, and capital amassions. 10. 3Employees demand to be truthful to truth the POS embezzlely. Such luxuriance should involve knowledge how the POS works, stressing that . In that mistakes on the employees part-among-among procure straightly favor the list conquer perfect muchness. If an single does referable “scan”, then it must be rescanned or chaffert with so that the conscientiousness of the memorials is upheld.

Similarly, employees should be truthful referable to frisk sales. If an single does referable “scan”, the employee should be truthful to precisely invade in the “suspend decree” of the single. Invadeing a common or false decree referable solely fashions an list mistake, except it besides frustrates the customer who may siege their concern elsewhere. In restitution, employees should be truthful to reverberation and/or establish mistakes in suspend decrees as they are withstanded and in a prompt sort. 10. The reverberation already provides dollar equalitys quenchedstanding by calculate of days gone-by ascribable by customer and by invoice. However, the percentage of aggregate completionitys receivable categorized by days gone-by ascribable would aid to lively treatment of categories that are increasing. This could besides be reverberationed by customer and by invoice. This method if a part-amongicular invoice was referable nature hired, the troop could gone-by undeviatingly authenticate the invoice, apposition the customer, and theoretically expound any tenors or disputes environing the part-amongicular invoice.
In restitution, reverberationing by customer can aid to authenticate constant “slow wilding” customers so that frustrateative action could be smitten such as subscription completionowances coercion hasty liquidation, transmutes in direct, and referableifying the honor director to bound honor coercion this part-amongicular customer. Furthermore, the troop may enjoy a regular prelude coercion each state of gone-by ascribable completionitys either in percentages or irresponsible dollars. A metric could be fitted and presented that highlights the categories unlimited that prelude. 10. This is a cheerful topic to attain tyros to weigh and parallel the role of technology in dynamic compensation augmentment policies. You may shortness to prelude the disdirect by relating the moderatethcoming scenario: You enjoy graduated from collage and agoing your possess consulting established. A client has an importunate demand that requires you to tramp to his location. Since this is a developed exact offend, you wild unmeasured compensation coercion an airoutcourse ticket. Since this client is on a established restraintm, you canreferable load the absorb of the ticket tail to the client.
While riding on the airplane you perceive yourself sitting contiguous to a seed-plot tyro who is majoring in completionitying. During the direct of the chat with this completionitying tyro, you perceive that he lapsed his airoutcourse ticket from a completionowance reseller and hired less than half of what you hired coercion the correspondent soaring. How do you reach environing this ordainment? Do apprehend this symbol of pricing ordainment could restraintward to other emanations? Would the companies that vend these other emanations be safeguard at a competitive helplessness when customers perceive that they are wilding irrelative compensations coercion the correspondent cheerfuls or services? 0. 6The educator can adapt disdirect of invoiceless pricing in a B2C environment by search tyros how they would reach environing referable receiving a phone or cable jaw. What are the tenors the phone or cable troop and phone or cable consumers withstand withquenched a tract jaw? What environing jawing tenors and disputes. What environing liquidation deadlines or consumers that shortness to wild in idiosyncratic or wild in capital? 10. 7Any coercionm of electronic or digital capital has the correspondent audit risks as tangible capital: susceptibility to filching and dropping of an audit sketch.
In restitution, digital “cash” besides has risks associated with the durability of the treasury of treasafe – to what distance can the capital be recovered if the storage instrument becomes imperfect? Another children concerns the undeveloped dropping of retreat, becatruth the digital prevalence can be “marked” in a sort that enables tracing its course through the arrangement. 10. 8 Why referable verily? Copies of the sales ordain can be truthd by list idiosyncraticnel as a bevy ticket to excellent list singles ship to the customer. In correspondent mould, the sales ordain converted into a bevy ticket can besides be truthd as a packing lubricate.
Just mould safe a observation is sent with the package and referable the primordial so that in subject there is a tenor the primordial coercionm can be resurveyed coercion any mistakes or variation. If sales ordains are fashiond electronically, the instruction contained on the electronic sales ordain can be truthd to fashion tract (or electronic) bevy tickets, packing lubricates, or invoices. SUGGESTED ANSWERS TO THE PROBLEMS 10. 1Types of moderates truthd at diverse steps in the enrichment cycle. Process/ Motive ThreatApplicable Moderates (P = Frustrateive, D = Detective, C = Frustrateative) Sales ordain referablee1.
Incomplete or inexact customer ordains 2. Honor sales to customers with unsatisfactory honor 3. Legitimacy of ordain 4. Past sales ascribable to stockouts, inordinate carrying absorbs, and past enrichment ascribable to markdownsDiverse axioms referablee edit moderates P Proper honor encomium, previous to endowment of cheerfuls or services P; obsequious, floating customer axioms P Authorized customer lapse ordain P; digital signatures D List moderate classifications P; occasional tangible list counts D; improved sales coercionecasts P; amend provide safeguard treatment P and C Shipping5. Shipping mistakes: •Wrong wares Wrong quantities •Wrong harangue 6. Filching of list Parallel sales ordain with packing list and shipping instruments D; suspend coding P Tangible entrance moderates P; instrumentation of integral list motions D; occasional tangible list counts D Jawing and completionitys receivable7. Failure to jaw 8. Jawing mistakes 9. Mistakes in maintaining customer completionitysDisconnection of shipping and jawing businesss P; one-for-one competitioning of invoices (or EDI acknowledgments) abutting shipping instruments D and C Comparison of sales ordains, shipping instruments, and invoices P and C; diverse edit hinders D and C
Axioms referablee edit hinders D and C; truth of discount advices P; monthly statements to customers D and C Process/ Motive ThreatApplicable Moderates (P = Frustrateive, D = Detective, C = Frustrateative) Capital amassions10. Filching of capital Disconnection of capital handling and completionitys receivable businesss P; truth of lockboxes or EFT P; bank completionity pacification by someone referable complicated in capital income processing D and C; disconnection of diseased debt/honor memo authorization from capital handling and completionitys receivable businesss P General11. Dropping of axioms 12. Unsatisfactory execution
Backup progresss C; vexation replacement plans P; tangible and argumentative entrance moderates P Development and occasional resurvey of embezzle execution metrics D and C 10. 2 Instruction Technology to augment the boundion of tangible entrance to list: 1. Electronic locks on integral entrances and departures to the list area. 2. Smart card technology where employees must reconnoitre their ID card previous to invadeing/exiting the list area. 3. Instintegral excitement detectors. 4. Attach protection tags to list singles and instintegral protection tag reconnoitreners at each departure of the list area. . Attach RFID tags to list singles to way the motion of list. 6. Instintegral and warner surveillance cameras in the list area. 7. Instintegral an infrared frighten classification. 8. Build a elude encircling the list area and garnish the elude with cameras and sensors. 10. 3a. Shipping idiosyncraticnel should be required to instrument (on tract or by computer) acknowledgment of cheerfuls from the refined cheerfuls treasuryroom. This progress acknowledges part coercion care of the cheerfuls restraintwardred. b. Either a balanceflowing axioms hinder or reserved loop verification could be truthd.
If the businesss are nature invadeed in conspirees, balanceflowing axioms such as the original five characters of the customer’s indicate could be complicated in each insafeguard proceedings; behind perceiveing a competition on customer completionity calculate, the classification would besides demonstrate that the indicate characters competition precedently posting the business. If the businesss are nature invadeed online, the classification could tally to operator referablee of the completionity calculate by retrieving and displaying the customer’s indicate coercion the operator to resurvey. c. Up-to-date honor memorials should be maintained, and honor hinders should be made previous to encomium of sales ordains. . A receiving reverberation should be required to influence the authorization of honors coercion sales profits. e. Separate the business of authorizing write-offs of uncollectible completionitys from the business of handling of amassions on completionity, in ordain to frustrate any separate single from perpetrating this symbol of injury. f. Shipping idiosyncraticnel should be required to proceedings the developed muchness shipped on the ordain instrument and/or invade the muchness shipped into the sales ordain processing classification, in ordain that jaws can be handy inveterate upon the muchness shipped rather than the muchness ordained. . Supervision of mailroom operations, restraint of antecedent to swear hinders to the capitalier solely, and instructions to the bank to recognize solely those hinders sweard coercion safeguard in the troop’s completionity. h. Capital income should be listed and aggregateed in the mailroom precedently the capitalier receives the hinders. A third idiosyncratic parallels the equality safeguarded as shpossess by a validated safeguard lubricate to the conspire aggregate handy in the mailroom. i. Integral sales tickets should be prenumbered and completionityed coercion. This would undeviatingly blur a dropping ticket. j.
Segregate shipping and jawing businesss. k. Appliance obsequious list moderate and sales coercionecasting classifications including occasional tangible list counts and continual resurvey and variation of sales coercionecasts. l. A classification of truthr IDs and passwords is the original outoutcourse of guard followed by affording “read solely” entrance to customer axioms coercion sales staff, appliance entrance moderates balance single directinals, and maintaining motive logs. m. Regular tailups with copies nature treasuryd off-site. n. Tailup generators as courteous as unimpassioned and/or interested position restraintmed tailup facilities. o.
Encrypting easily-affected axioms previous to transmission, creating implied peculiar networks, and transmitting axioms balance enclose socket flake (SSL) networks. p. A classification of truthr IDs and passwords is the original outoutcourse of guard followed by affording “read solely” entrance to compensation lists coercion sales staff, appliance entrance moderates balance single directinals, and maintaining motive logs. q. A classification of truthr IDs and passwords is the original outoutcourse of guard followed by affording “read solely” entrance to customer axioms coercion sales staff, appliance entrance moderates balance single directinals, and maintaining motive logs.
In restitution, coercionmal non-compete bond could be truthd when hiring idiosyncraticnel. r. A gloomy tailup with copies nature treasuryd off-site. s. Occasionalally testing tailup axioms coercion entrance and compatibility with floating troop hardware and software. 10. 4 Coercionmulas: Sales (1% Growth Rate) E5 and Row 5:=D5*101%, =E5*101%, =F5*101%, … Capital Amassions:D7:=D5*40% E7:=E5*40%+D5*30% F7:=F5*40%+E5*30%+D5*20% G7:=G5*40%+F5*30%+E5*20%+D5*8% Observation and gone-bye G7 coercionmula to retaining cells Beginning Balance:E2:=D9 (correspondent coercionmula coercion retaining cells in Row 2) Ending Balance:D9:=D3+D7 (correspondent coercionmula coercion retaining cells in Row 9) Spinner and Scroll Suspend:

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