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You are a self-employed consultant who advises companies on the design and development of their accounting information system. You recently made a presentation to a local chapter of the Institute of Management Accountants. After the presentation, Peter approached you with some problems. Peter is the chief accountant for Top Notch T-Shirt Printing, a company that makes custom t-shirts for student clubs, professional organizations and other groups.

The process of producing t-shirts typically goes like this: (a) Receive an order in person, over the phone or via e-mail. The order includes the number, sizes and color(s) of t-shirts as well as the artwork. (b) Design or adapt the group's name and logo for the t-shirts. (c) Finalize the order with the client and establish the price; receive a 50% deposit from the client. (d) Purchase plain t-shirts. (e) Print the t-shirts. (f) Deliver the printed t-shirts and bill the client for the remaining 50%. (g) Receive the payment due from the client.

Required:

1. Peter needs to assess the risks at Top Notch T-Shirts. In order to do so he wants to visualize the general ordering, production and sales process in the company. You are required to prepare a flowchart describing the general process and information flows at Top Notch T-Shirt Printing.

2. Peter is planning to purchase a software to handle the ordering process in the company (steps (a) through (c)). In order to help Peter formulate the requirements for the new software you are requested to prepare a data flow diagram for the ordering process at Top Notch T-Shirt Printing

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M947555

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