Describe the internal control improvements to the system that are needed to reduce these risks. Fixed Asset

Describe the internal control improvements to the system that are needed to reduce these risks.

Transcribed Image Text:

Fixed Asset Flowchart Analysis Vendor User Department Cash Disbursements General Ledger Purchase Order Invoice Check Maintain Usage Records Prepare PO Purchase Order Invoice Receiving Report Cash Disb Make Payment Journal and Update Journal Voucher Check Copy Receive Asset and Invoice Check Invoice Receiving Report Depredation Report Disposal Report Fixed Asset Sub Ledger Asset Summary Journal Voucher Asset Summary Depredation Report Disposal Report Update GL Accounts General Ledger