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1 page/β‰ˆ275 words
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Style:
Chicago
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
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Total cost:
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Topic:

Controlling Revenue: Risks in the Sales Ordering Process

Essay Instructions:

FOR THE SALES ORDERING PROCESS:
1. Identify specific risks in the sales ordering process (at least 3).
2. Create a specific detective control for each risk you identified in question 1 AND create a specific preventive control for each risk you identified in question 1. So each risk will have 2 corresponding controls. Be sure to clearly identify and explain each control as either detective or preventative.
FOR THE SHIPPING PROCESS:
(Important note, SHIPPING and SALES INVOICING are separate revenue/sales sub-processes, even though the case puts the information together. This part is about the SHIPPING sub-process ONLY, not invoicing. Your answers should be about the SHIPPING process ONLY. If you write risks or controls for the invoicing process it will be WRONG).
1. Identify specific risks in the shipping process (at least 3).
2. Create a specific detective control for each risk you identified in question 1 AND create a specific preventive control for each risk you identified in question 1. So each risk will have 2 corresponding controls. Be sure to clearly identify and explain each control as either detective or preventative.
Identify the relevant authoritative auditing guidance and how this guidance is related to the case.

Essay Sample Content Preview:
Controlling Revenue
Student Name
Class
Date
Controlling Revenue
Risks in the Sales Ordering Process
The most common risks encountered at this stage are; not registering or processing orders on time, wrong sales order entry, and sales price errors. These errors can be detected and prevented if the persons in charge are keen enough. Not registering and processing orders can be detected by continually checking on responsible staff to ensure they register and process orders. This is a detective measure. The risk can be prevented by automation techniques to notify staff of orders pending processing within twenty-four hours of reception. Wrong sales order entry occurs when a product ordered by one customer is entered under a different customer’s name or confusion in the order and records. This risk is prevented by confirming an order with the customer before processing it to avoid entry errors. The risks associated with sale prices can be detected by having the computer detect common errors in pricing. For instance, detecting a zero or an alphabet when it comes to price. It can be prevented by hav...
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