Business Finance
ACC 322 BMCC CUNY Technology Inc Sales Procedures Flow Charts

ACC 322

CUNY Borough of Manhattan Community College

ACC

Question Description

I'm working on a Accounting question and need an explanation to help me learn.

Please create a flow chart for "sales" and "customer" portion on excel.

Scenario:

Background
We will be working on the Audit of Technology Inc. The Company is a technology company that “has several lines of businesses that include (1) providing IT services to other companies (primarily the software tool “Maximize Technology Tool”), selling the Maximize App on the iOS and android platform that lets individuals store passwords securely, (2) the company also has a physical device that it sells to automotive companies and retail stores that allows doors to be electronically locked and opened using the “Maximum Secure Open” App and related optional remote/device eliminating the need for keys and also integrates with any security service such as ADT, Ring, etc.”

All sales are processed in house at the Time Square office by a team of 5-10 people in the Sales Department. (NOTE: The previous sentence is just a fact and does not need to be flowcharted. You will see some sentences describe a process while other just provide additional information but do not describe a specific process. To help distinguish these sentences ask yourself if a document is being created, modified, sent from one department to another, etc.) All sales for IT services go through their website, App, or on a rare occasion by phone. When a sale is made by the Sales Department the customer using the Technology Inc.’s website/app automatically creates one copy of a document called the Customer Purchase Order (1 copy). [Sales orders by phone would involve manually created sales orders, but exclude this from your flowchart since it is rare.]

Once the Customer Purchase Order is received the Sales team manually prepared a "Sales Order" (7 copies). One copy of the Sales Order is given to the customer, two copy is sent to the Credit department for approval, one copy is send to the Shipping Department, one Copy is sent to the billing department (along with the original Customer Purchase order), one copy is sent accounts receivable department (use an off-page connector to show this copy being sent as the accounts receivable department has a separate flowchart), and one copy is filed away by the Sales Department. The original Customer Purchase Order is sent to the Billing Department once the Sales Orders are created.

The Sales Department also enters the sale into an excel spreadsheet (called the Customer Sales Logs) that is stored on a shared drive (Control 6a). The sales team can also download a total sales reports (called the Electronic Sales Report) from the App and Website which summarizes all electronic sales for the week and sales department employees manually compare this to the Sales Listing (discussed above) on a daily basis (Control 6b). However because of time restrictions this comparison of the two reports isn’t always performed daily and sometimes is performed every few days. (Both the App and Website are hosted on the Amazon cloud (“AWS”).) It’s not clear whether this is covered by a SOC 1 report over AWS.

The credit department performs a manual review of the sales order received based on credit score/history of past payments/financial strength/reputation/etc. (Control 8a) and then the credit department can either approve or reject the sales order. If the sales order is approved the Credit department electronically marks the two copies of the sales orders as “approved” (This Sales Order is now called "Approved Sales Orders"). The Credit department sends one copy of the “approved sales order” to the sales department. If rejected then the two copies of the sales order are electronically stamped as rejected (called the “Rejected sales order”). One copy of the rejected sales order are sent to the sales dept. and one copy is filed away by the Credit Department. The Sales department files away the copy of the approved/rejected sales order(s) in a folder (Control 8b). The Credit Department updated the Customer Sales Logs also to note if the Sale recorded in this report was either approved or rejected (This is basically a column in the excel file.).

As noted above the Sales Department files its copy(ies) of the approved/rejected sales order and the original sales order in a folder (Control 8c). The second copy of the approved sales order (if there is one) is sent to the shipping department. (Remember shipping is outsourced to Amazon’s Fulfillment Center, but for out flowchart assume is a normal department at the company (no special symbols needed).).

The Amazon’s Fulfillment Center receives 1 copy of the original Sales Order and stores it in a file until the 1 copy of the Approved Sales Order is received. The Fulfillment Center manually match the Sales order and Approved sales order to verify the amount of goods to be shipped. The Fulfillment Center then manually prepares a "Bill of Lading" (4 copies) and ship the merchandise through USPS (the United States Postal Service) (aka: the “Shipper”). The original Sales Order and one copy of the Bill of Lading is filed away by the Shipping Department. One copy of the Bill of Lading is sent to the customer, one copy of the Bill of Lading is given to USPS, and the final copy of the bill of Lading along with the Approved Sales Order is sent to the Billing Department.

The Billing Department Receives the original Customer Purchase Order (as described above) and one copy of the Sales Order from the Sales Department and files them temporarily until the Approved Sales Order and Bill of Lading are received from the Fulfillment Center. Then the Billing department performs a manual 4 way match of the Customer Purchase Order, Sales Order, Approved Sales Order, and the Bill of Lading. The Billing Department manually records these transactions in the Account Receivable Log. Finally the Billing Department creates a customer Sales Invoice (2 Copies) through an Electronic Process and sends one copy to the customer. The second copy of the Sales Invoice is filed away by the Billing Dept.

The rest of the process is out of scope for this flowcharting activity.

Unformatted Attachment Preview

Exercise #2- Flow Chart Names of Team Members: (Only put the names of people tha worked on this) ACC 322 Prof. Zohaib Qamar GENERAL INSTRUCTIONS: Group #: ____________________________ I. Please acknowledge the following statement: “We worked on this assignment on our own. Any outside sources have been properly cited. We did not copy from other I and my team attest the above statement is true: (mark with an X): ____________ II. Read the following information. (split up the reading amongst the group as appropriate). III. Answer the questions below. IV. Indicate who from the team answered the respective question. V. Apply what you learned in class to answer the questions. VI. By completing this exercise you will learn about how to approach problem solving for any company or project you work on WHEN YOU SAVE THIS WORKBOOK, SAVE IT WITH YOUR Team NAME IN THE WORKBOOK NAME. - Remember to submit on blackboard by the due date to get credit. Credit will not be given unless this is su - Only one member of the team needs to submit to blackboard. - Your group grade will be given to the student who submit on blackboard and he/she will share with the te Exercise #3- STEPS to complete this Exercise: The narrative is given on the next worksheet. (Start by reading this, if you want to be efficient focus on r Prepare the flowchart, use the shapes in the "Shapes to Use" tab, modify shapes as needed. Look at the flowcharts in the PPT slides and the textbook for examples of how it should look. Also see th There is a word document "2-Flowcharting accounting System(11) Flowcharting PowerPoint & 2-Flowcha create flowcharts using microsoft excel. Instructions from this document are also copied into the "TIPS- U 5) My preference if you complete the flow chart in excel or microsoft word if possible, but I will accept one you might lose points. (Rememer the purpose of the exercise is for you to practice your excel skills.) 6) Do your best to split the task between yourselves. Please don't spend more than an hour or 2 on this. If Read the Narrative carefully, note not every sentence will be something you need to create a shape for. 7) modify documents, create new documents, etc. You will need to read other departments section of the flowchart to make sure you fully understand wha 8) flowchart. This project tests your ability to prepare a flowchart. 1) 2) 3) 4) mes of people tha worked on this)____________________________________________________________________________________ ted. We did not copy from other students, from publicly posted test banks or other online sources” y company or project you work on not just auditing. E WORKBOOK NAME. not be given unless this is submitted on blackboard. he/she will share with the team. u want to be efficient focus on reading the paragraph relevant for your department column) shapes as needed. how it should look. Also see the Example tabs included below for reference. harting PowerPoint & 2-Flowcharting accounting System)." The last page provides instructions on how to are also copied into the "TIPS- Using MS EXCEL" tab below. f possible, but I will accept one created on paper (and scanned/uploaded to BB) for a valid reason only, but o practice your excel skills.) re than an hour or 2 on this. If you find yourself stuck let me know. ou need to create a shape for. Your focus should be on the sales transaction and charting documents, processes that e sure you fully understand what is happening, so communication is key so documents don't get lost in the _______________________________________ s, processes that *Read the instructions carefully before starting. This Activity should take between 1-3 hours to complete. Medina Co. (Read the Narrative below & create a flow chart in the "Flowchart" tab.) ( To be efficient figure out what department you are responsible for and focus on reading relevant for your department). (Make sure you scroll all the way down to Background We will be working on the Audit of Technology Inc. The Company is a technology company that “has several lines of businesses that include (1) providing IT services to other companies (primarily the software tool “Maximize Technology Tool”), selling the Maximize App on the iOS and android platform that lets individuals store passwords securely, (2) the company also has a physical device that it sells to automotive companies and retail stores that allows doors to be electronically locked and opened using the “Maximum Secure Open” App and related optional remote/device eliminating the need for keys and also integrates with any security service such as ADT, Ring, etc.” All sales are processed in house at the Time Square office by a team of 5-10 people in the Sales Department. (NOTE: The previous sentence is just a fact and does not need to be flowcharted. You will see some sentences describe a process while other just provide additional information but do not describe a specific process. To help distinguish these sentences ask yourself if a document is being created, modified, sent from one department to another, etc.) All sales for IT services go through their website, App, or on a rare occasion by phone. When a sale is made by the Sales Department the customer using the Technology Inc.’s website/app automatically creates one copy of a document called the Customer Purchase Order (1 copy). [Sales orders by phone would involve manually created sales orders, but exclude this from your flowchart since it is rare.] Once the Customer Purchase Order is received the Sales team manually prepared a "Sales Order" (7 copies). One copy of the Sales Order is given to the customer, two copy is sent to the Credit department for approval, one copy is send to the Shipping Department, one Copy is sent to the billing department (along with the original Customer Purchase order), one copy is sent accounts receivable department (use an offpage connector to show this copy being sent as the accounts receivable department has a separate flowchart), and one copy is filed away by the Sales Department. The original Customer Purchase Order is sent to the Billing Department once the Sales Orders are created. The Sales Department also enters the sale into an excel spreadsheet (called the Customer Sales Logs) that is stored on a shared drive (Control 6a). The sales team can also download a total sales reports (called the Electronic Sales Report) from the App and Website which summarizes all electronic sales for the week and sales department employees manually compare this to the Sales Listing (discussed above) on a daily basis (Control 6b). However because of time restrictions this comparison of the two reports isn’t always performed daily and sometimes is performed every few days. (Both the App and Website are hosted on the Amazon cloud (“AWS”).) It’s not clear whether this is Customer Sales Logs) that is stored on a shared drive (Control 6a). The sales team can also download a total sales reports (called the Electronic Sales Report) from the App and Website which summarizes all electronic sales for the week and sales department employees manually compare this to the Sales Listing (discussed above) on a daily basis (Control 6b). However because of time restrictions this comparison of the two reports isn’t always performed daily and sometimes is performed every few days. (Both the App and Website are hosted on the Amazon cloud (“AWS”).) It’s not clear whether this is covered by a SOC 1 report over AWS. The credit department performs a manual review of the sales order received based on credit score/history of past payments/financial strength/reputation/etc. (Control 8a) and then the credit department can either approve or reject the sales order. If the sales order the is approved the Creditbefore department marks thebetween two copies of the *Read instructions carefully starting.electronically This Activity should take 1-3 hours to sales complete. Technology, Inc. Sales Procedures *The color of the shapes might default to Blue and white color font, no need to change to black. To edit the Text in a Shape right clight it and click "edit Text". **Complete the flowchart below, use the "Shapes to Use tab" for some shapes you can use, and use the "TIPS- using MS Excel" tab on instructions to create your own shapes. ***This Activity should take 1-2 hours to complete, look at example flowcharts in the textbook and PPT slide to help you design the flow chart. STUDENT 5 (Name):______________________________________ STUDENT 1 (Name):______________________________________ Customer Sales = Only comple the "Customer" Column if there is a 5th student in your group, otherwise it is optional. Tips: 1. Feel free to make the columns wider as needed. Tip: 2: Use the shaped in the tab "Shapes to Use" as much as possible. STUDENT 4 (Name):___________________________________ Billing Dept. These Shapes can be copied and pasted into the FlowChart tab to help you complete the flowcha Feel Free to Create and use your own shapes, see the "TIPS- Using MS Excel" tab for information * The shapes below are not in any specific order. *The color of the shapes might def Prepare Sales Order Customer's Purchase 1 6Sales Order Sales Order 7Sales Order # Customer Sales Order 2Sales Order Order 3SalesSales Order 4Sales Order Sales Order 5SalesSales Order Order Analyze the customer credit score, pmt history, etc. Approved Sales Order A/R aginger # Prepare Bill of Lading & ship merchandise Ship Goods B B C A A C Creates a customer Sales Invoice Compare the Sales Order with the Approved Sales Order you complete the flowchart. Note that some shapes will be used multiple times, but may only appear onc Excel" tab for information on how to create your own shapes. or of the shapes might default to Blue and white color font, no need to change to black. Approved Sales Order 3ales Order Sales Order Sales Order Sales Order SalesSales Order Order Sales Order Sales Order 7Sales Order A/R aginger epare Bill of ding & ship erchandise Customer's Purchase Approved Approved Sales Order Sales Order 3ales Order 4ales Order Enters sales transactions in the A/R and Sales Logs 1 2Sales Order of Lading 3SalesBill Order 4Sales Order Shipper/USPS Rejected Reject Sales Order Sales Order 3ales Order 4ales Order Sales invoiceer Approve eates a customer les Invoice mpare the Sales Order with the roved Sales Order Approve Credit * Customer A/R aging File s, but may only appear once below. Customer's Purchase Order Sales Order 1ales Order Approved Sales Order 3ales Order Bill of Lading 1Sales Order Enters sales actions in the A/R nd Sales Logs 1 END Sale Reject Customer Invoice 2Sales Order 4 way comparison of the Sales Order, the Approved Sales Order, Bill of LAding, & Cust Purchase Order Sales File/Log Compare the Sales Order to the customer AR Aging Report Account Receivable log/Spreadsheet Sales log App/Website Creates a customer Purchase order Electronic Sales Report App/Website Creates a customer Purchase Below are images from the word document "2-Flowcharting accounting System(11) Flowcharting PowerPoint & 2-Flowcha flowcharts using microsoft excel. This document is on Blackboard and instructions are in the syllabus on which folder it is lo harting PowerPoint & 2-Flowcharting accounting System)." The last page provides instructions on how to create he syllabus on which folder it is located in on Blackboard. ...
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Final Answer

Attached.

Exercise #2- Flow Chart

Names of Team Members: (Only put the names of people tha worked on this)

ACC 322
Prof. Zohaib Qamar
GENERAL INSTRUCTIONS:

Group #: ____________________________

I. Please acknowledge the following statement:
“We worked on this assignment on our own. Any outside sources have been properly cited. We did not copy from other
I and my team attest the above statement is true: (mark with an X): ____________
II. Read the following information. (split up the reading amongst the group as appropriate).
III. Answer the questions below.
IV. Indicate who from the team answered the respective question.
V. Apply what you learned in class to answer the questions.
VI. By completing this exercise you will learn about how to approach problem solving for any company or project you work on
WHEN YOU SAVE THIS WORKBOOK, SAVE IT WITH YOUR Team NAME IN THE WORKBOOK NAME.
- Remember to submit on blackboard by the due date to get credit. Credit will not be given unless this is su
- Only one member of the team needs to submit to blackboard.
- Your group grade will be given to the student who submit on blackboard and he/she will share with the te

Exercise #3- STEPS to complete this Exercise:

The narrative is given on the next worksheet. (Start by reading this, if you want to be efficient focus on r
Prepare the flowchart, use the shapes in the "Shapes to Use" tab, modify shapes as needed.
Look at the flowcharts in the PPT slides and the textbook for examples of how it should look. Also see th
There is a word document "2-Flowcharting accounting System(11) Flowcharting PowerPoint & 2-Flowcha
create flowcharts using microsoft excel. Instructions from this document are also copied into the "TIPS- U
5) My preference if you complete the flow chart in excel or microsoft word if possible, but I will accept one
you might lose points. (Rememer the purpose of the exercise is for you to practice your excel skills.)
6) Do your best to split the task between yourselves. Please don't spend more than an hour or 2 on this. If
Read the Narrative carefully, note not every sentence will be something you need to create a shape for.
7) modify documents, create new documents, etc.
You will need to read other departments section of the flowchart to make sure you fully understand wha
8) flowchart.
This project tests your ability to prepare a flowchart.
1)
2)
3)
4)

mes of people tha worked on this)______________...

DRSHINAQWA (2980)
University of Maryland

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