Exam 9: Procurement and Human Resources Business Processes

Discuss the employer's requirements for FICA tax,including the procedures for deposit,penalties for failure to deposit,the form used to report the tax,and the due dates of the form.

Well-designed receiving procedures should call for an independent count of materials delivered and for the preparation of the receiving report.

A purchase order prepared under an existing contract or scheduling agreement is called a

An "infotype" is a SAP term that denotes a collection of data fields that is grouped together for display.

Risk ________ for payroll,procurement,and customer order management business processes is required for compliance with Sarbanes-Oxley

Vendors found on a company's approved vendor list should possess the attribute(s)of

Goods receipt documents can be prepared in several ways.Which way below would not be used when preparing a goods receipt document?

A procurement document that is not available in ERP is the

The federal tax which requires that employees and employers contribute equally for old age,survivors',disability,and hospital insurance benefits is

To do a blind count,the receiving department

ERP maintains lists of approved and disapproved sources of supply.

Below are the documents commonly encountered in a procurement business process: a.Purchase requisition b.Purchase order c.Receiving report d.Payment voucher Required: For each document,(1)state where it originated,and (2)give the entity or entities (e.g.,other departments or parties)which would most likely receive a copy of the document or that should access it in a database.

The ERP system's "create" function adds a new blank infotype with a default validity date from "current date" to "end of time."

The following is a description of the payroll procedures for Cherokee Custom Crafters,a small company that customizes vans and RVs according to customers' specifications: The payroll department prepares a time card for each employee on the payroll every Monday and leaves the time cards in a box near the entrance to the factory.Workers fill in their time daily. A payroll clerk picks up the time cards the following Monday when dropping off the new time cards.The payroll clerk then inputs the number of hours for each employee into the computer. The payroll application calculates gross pay,deductions,and net pay,and prints a payroll register. Payroll checks are prepared manually by the payroll clerk and signed by the chief accountant,who takes them to the factory supervisor.The factory supervisor distributes the checks.The chief accountant prepares the monthly reconciliation of the payroll bank accounts. Required: List five recommendations for improving Cherokee Custom Crafters' internal controls over its payroll function.

The final step in the procurement process should be

The greatest amount of internal and business process control in the cash disbursements process comes from

________ documents are used in the selection of a vendor.

Goods movement can be either an internal or external event.

Within the procurement business process,fundamental controls are based on a separation of function.

The documents which accounts payable should use to verify a purchase transaction are