Exam 13: Accounts Payablecash Disbursements Apcd Process

Below is a narrative for the "Make payment" portion (bubble 2.0) of the accounts payable/cash disbursements process described in Chapter 13.Narrative Description The payment process begins with the preparation of a list of payments that might be made at this time (bubble 2.1).The selection of items for this list is based on payment due dates and terms that may indicate a discount can be taken for a payment at this time.The proposed list is reviewed and amended (bubble 2.2) to add additional invoices that are not due for payment yet but that can be consolidated with other payments being made to a vendor.Proposed payments may be removed from the list if there are insufficient funds or if payments to a vendor are on hold.Bubble 2.3 depicts the process of preparing the disbursement, which is equal to the amount of the invoice less any discount taken.The payment is recorded by: -Marking the invoice as paid on the accounts payable master data.-Making an entry in the cash disbursements event data store.-Sending payment data to the general ledger where an entry is made to reflect the payment..Required: From the DFD (TB Figure 13.5) and the narrative description above, explode bubble 2.0 into a lower-level diagram showing the details of that process.

Which of the following is least likely to report (either directly or indirectly) to the vice president of finance?

The vendor sends a _________________________ to notify the purchaser of an obligation to pay for goods or services ordered by and shipped to the purchaser.

When the AP/CD process records a payable obligation, the data flow between "validate invoice" and "record payable" is?

The figure below shows a portion of the horizontal perspective of an accounts payable/cash disbursements (AP/CD) process.The following functional titles (for the AP/CD process organizational structures and the entities with which the AP/CD process interacts) and information flows, depicted as documents, generated or captured by the AP/CD process, have been omitted. Required: Complete TB Figure 13.1 by inserting the letter corresponding to the: (a) functional titles into the boxes (b) information flow descriptions in the document symbols

In a relational table for PURCHASE_RECEIPTS, the primary key would be the receipt number.

The cash disbursements event data shows, in alphabetical order, the details of each cash payment made.

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

The following is a list of 10 control plans. Required: Listed below are ten system failures that indicate weaknesses in control.On the answer line to the left of each description, insert the capital letter (from the list above) of the best control plan to address the system deficiency described.A letter should be used only once.

The VP of finance usually has the cashier and the controller directly reporting to him (her).

A control plan to ensure input accuracy in payables processing is:

The control plan _____________________________________________ requires that the authority for recording a vendor invoice come from the purchase order and receiving report that were created by entities other than the one that records the vendor invoice.

In an AP/CD process, you would expect that "validating" a vendor invoice might include all of the following steps except:

Within the make payment process, the three subprocesses are "Prepare proposed payments", "Select and record payments", and "Issue and record disbursements".

A true ____________________ system requires that all expenditures be formally approved for payment and be recorded as a payable before they can be paid.

In an AP/CD process, a frequent exception routine is caused by ________________________________________.

The typical horizontal flows of information in a accounts payable/cash disbursements process might include all of the following except:

Data flows of an AP/CD process normally might include all of the following except:

______________________________ is a process by which an organization pays for a purchase on the basis of the receipt of the goods.

In the flowchart for the AP/DC process the symbol below represents the enterprise database.