ACCG250 Study Guide - Final Guide: Credit Score, Perpetual Inventory, Accounts Payable

• School: Macquarie University
• Department: Accounting and Corporate Governance
• Course: ACCG250
• Professor: Mauricio Marrone

Document Summary

5. 5 revenue activities & related risks and controls. P icking , packing and ship p ing. Decide if sufficient stock is available to proceed with the order by comparing the goods available to the goods requested by the customer. Selling goods that are not available to be shipped. Poor decision-making allowing an order to proceed when goods are unavailable or rejecting an order when goods are available. Decide if the customer is creditworthy and whether the sale should proceed by determining currently available credit capacity. Poor decision making - accepting uncreditworthy or rejecting creditworthy customer. Input data; create the sales order and update sales data. Once order is created advise the customer of the sales order outcome. May also advise hr of any commissions payable. Need to advise warehouse picking officer of goods required, and advise billing that sales order has been created.