Accounting Question

Learning Goal: I’m working on a accounting case study and need an explanation and answer to help me learn.

SCENARIO:

Markle Industries has been manufacturing and selling restaurant equipment such as fryers and grills for more than 15 years. Markle is a privately held firm and the board is planning to take the company public within the next two years. Therefore, they have hired you as the company’s first internal auditor. One of your tasks as the internal auditor, is to document Markle’s various processes. You will start with the order-processing system. You have already walked through the process with Markle employees. The following is what you have discovered.

All customer orders are credit sales and arrive via the company website or from Sales Rep sales at trade shows.

THE FOLLOWING IS A NARRATIVE SUMMARY OF THE PROCESS:

When an order comes in, the order-processing clerk checks the customer’s credit file to confirm credit approval and ensure that the amount falls within the credit limit. If either of these conditions is not met, the order is sent to the credit department. If an order meets both conditions, the order-processing clerk enters it into the system on a standard order form. The data on the form is used to update the company’s customer file (in which the name, address, and other data are stored), and the form is placed in the company’s open order file.

When the credit department receives a rejected order, the credit clerk determines why the order has been rejected. If the credit limit has been exceeded, the customer is notified that the merchandise will be shipped as soon as Markle receives payment to reduce their balance below their credit limit. If the customer has not been approved for credit, a credit application is sent to the customer along with a notification that the order will be shipped as soon as credit approval is granted.

Before preparing a picking ticket, the system checks the inventory records to determine whether the company has the products ordered on hand. If the products are not available, a notice of backorder is sent to the customer and an inventory requirement is recorded in the production and inventory planning system. If the items are in stock, a picking ticket is prepared and sent to the warehouse. Once the items are picked, the warehouse prepares a packing slip and crates the equipment for shipment via common carrier.

The carrier notifies Markle that goods have shipped and a customer invoice is prepared. A copy is filed by the order-processing department, another is sent to the customer, and another is sent to the accounting department so that accounts receivables can be updated. The invoice in the customer file is timestamped indicating that the invoice has been sent.

REQUIREMENTS:

Using the Signavio Process Manager process diagramming tool, create a BPMN (business process model and notation) diagram of the order process at Markle as described above.

Calculate your paper price
Pages (550 words)
Approximate price: -

Why Choose Us

Quality Papers

We value our clients. For this reason, we ensure that each paper is written carefully as per the instructions provided by the client. Our editing team also checks all the papers to ensure that they have been completed as per the expectations.

Professional Academic Writers

Over the years, our Acme Homework has managed to secure the most qualified, reliable and experienced team of writers. The company has also ensured continued training and development of the team members to ensure that it keep up with the rising Academic Trends.

Affordable Prices

Our prices are fairly priced in such a way that ensures affordability. Additionally, you can get a free price quotation by clicking on the "Place Order" button.

On-Time delivery

We pay strict attention on deadlines. For this reason, we ensure that all papers are submitted earlier, even before the deadline indicated by the customer. For this reason, the client can go through the work and review everything.

100% Originality

At Buy An Essay, all papers are plagiarism-free as they are written from scratch. We have taken strict measures to ensure that there is no similarity on all papers and that citations are included as per the standards set.

Customer Support 24/7

Our support team is readily available to provide any guidance/help on our platform at any time of the day/night. Feel free to contact us via the Chat window or support email: support@acmehomework.com.

Try it now!

Calculate the price of your order

We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Buy An Essay has stood as the world’s leading custom essay writing services providers. Once you enter all the details in the order form under the place order button, the rest is up to us.

Essays

Essay Writing Services

At Buy An Essay, we prioritize on all aspects that bring about a good grade such as impeccable grammar, proper structure, zero-plagiarism and conformance to guidelines. Our experienced team of writers will help you completed your essays and other assignments.

Admissions

Admission and Business Papers

Be assured that you’ll definitely get accepted to the Master’s level program at any university once you enter all the details in the order form. We won’t leave you here; we will also help you secure a good position in your aspired workplace by creating an outstanding resume or portfolio once you place an order.

Editing

Editing and Proofreading

Our skilled editing and writing team will help you restructure you paper, paraphrase, correct grammar and replace plagiarized sections on your paper just on time. The service is geared toward eliminating any mistakes and rather enhancing better quality.

Coursework

Technical papers

We have writers in almost all fields including the most technical fields. You don’t have to worry about the complexity of your paper. Simply enter as much details as possible in the place order section.