Question
This is for my Accounintg information system class, please help me answer for the questions below briefly. 1. Provide two examples of how inaccuracies in
This is for my Accounintg information system class, please help me answer for the questions below briefly.
1. Provide two examples of how inaccuracies in setting up a BOM can cause manufactured parts inaccurately valued parts.
2. List five setups that configure QuickBooks to generate journal entries automatically to update the cost of manufacturing inventory accounts. Briefly discuss how the accuracy of cost accounting depends on the information system being properly configured.
3. Describe five IT controls that reduce the risk of inaccurately valuing manufactured parts.
4. Describe how tracking manufacturing inventories on the Perpetual Inventory System and storing inventory in a stockroom can reduce the risk of manufacturing parts being stolen or lost.
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