Exam 13: Accounts Payablecash Disbursements Apcd Process

The ______________________________ triggers the "establish payable" process.

In the ER diagram of the AP/CD process, VALID_INVOICES are received from the purchasing department.

Below is a narrative of the "Establish payable" portion (bubble 1.0) of the AP/CD process described in Chapter 13.Narrative Description The first step in establishing the payable involves validating the vendor invoice.This process is triggered by receipt of the vendor invoice.Process 1.1 comprises a number of steps.First, the vendor invoice is matched against vendor master data to determine that the invoice is from an authorized vendor.Next, the vendor invoice is compared against the PO data (see the flow PO accounts payable notification) to make sure that there is a PO (i.e., there is an authorized purchase) and that the invoiced items, quantities, and prices conform to the PO.Then, the invoice is matched against the receiving report data to determine that the items and quantities have been received.Finally, the invoice is checked for accuracy of terms, computed discounts, extensions, and total amount due.Note that the vendor master data is updated at this point to reflect purchase history data.If the data items do not agree, the invoice is rejected, and follow-up procedures are initiated (see the reject stub emanating from bubble 1.1).If the data items agree, the invoice is approved, and the validated invoice is sent on to the next step to be used to record the payable.Bubble 1.2 depicts the process of recording the payable in the purchase events data and accounts payable master data.A payable is recognized and recorded by: -Creating a record in the purchase events data store.-Creating a record in the accounts payable master data to reflect an open invoice-a payment due to a vendor.-Updating the inventory master data for the cost of the items received.- Notifying the general ledger of the amount of the payable that was recorded (see the data flow "GL payable update").Required: From the DFD (TB Figure 13.3) and the narrative description above, explode bubble 1.0 into a lower-level diagram showing the details of that process.

Which of the following managers is most likely to report to the controller?

The cash disbursements process uses payment vouchers as inputs to update the accounts payable master data.

In a relational table for VALID_INVOICES, the primary key would be the vendor number.

To ensure that only authorized payments are made, there should be ____________________________ whereby the accounts payable records on which the payment is based are created by an entity other than the entity that executes the payment.

The vendor sends a confirmation to establish the payable.

The AP application matches invoices, quantities, prices and terms when it performs the control plan:

In the Level 0 DFD for an AP/CD process, a data flow called "vendor invoice" most likely would be sent by the vendor to which of the following processes?

The vendor invoice triggers the establish payable process.

TB Figure 13.9 is the control matrix for the accounts payable/cash disbursements process presented in Chapter 13, but with certain items omitted.In the matrix, each omission is indicated by a box.Jumbled lists of the omitted items are as follows: Omitted from Control Goals Columns Omitted Control Plans Required: Complete the matrix in parts 1 and 2 of TB Figure 13.9 below by placing one of the numbers, 1 through 14 from the above lists, in each empty box.

Non-invoiced payments include

When processing non-invoiced disbursements, the trigger for either a true voucher process or a non voucher process is a (n) ______________________________.

The cashier usually reports to _________________________.

Fraud abuses in the AP/CD process usually entail creating ______________________________ or submitting fictitious invoices.

In an AP/CD process "establish payable" would normally be triggered by:

For payment voucher input validity, which control plan uses records in the AP master data to gives authorization to the cash disbursements computer program to make payment?

The resources for which the AP/CD process wants to ensure security typically include all of the following except:

A true voucher system requires that all expenditures for whatever purpose and in excess of a certain dollar amount be formally approved for payment before they can be paid.