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FLOW Charting A company purchases it normal merchandize from pre-approved vendors the accounting department reviews...

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Accounting

FLOW Charting A company purchases it normal merchandize from pre-approved vendors the accounting department reviews inventory records on regular basis if quantity is low they prepare 3 copy sequentially number material requisition (MR)copy 1 goes to the Purchase department copy 2 is filed by date in a temporary file and copy 3 is filed by serial number. In the purchasing department a purchase order 4 copies is prepared from the vendor list Purchaser order (P O) copy 1 goes to vendor Copy 2 to accounting department copy 3 to the receiving department in ware house Copy 4 for is filed by order. The MR copy one is filed by date. Copy 3 is a blind copy. Accounting department match the MR with PO and deposit in a temporary file.

When goods are received the warehouse counts and inspect the goods prepare a 2 copy receiving report RR and updates inventory records. Copy one of RR goes to accounting Copy 2 is filed sequentially. The accounting department pulls the PO matches it with the RR and file temperedly until invoice is received.

Required 1. Prepare a Document flowchart for the process 2. What weakness in the internal control do you see? List them 3. Suggest enhancement to the internal control

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