Help-accounts payable procedure!!!

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This topic contains 7 replies, has 3 voices, and was last updated by  Angela 3 years, 2 months ago.

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  • #178399

    Angela
    Member

    Becker has a following question:

    Question CPA-05741.B

    Which of the following describes a weakness in accounts payable procedures?

    a. The accounts payable system compares the receiving report to the vendor invoice

    b. The accounts payable clerk manually verifies arithmetic on the vendor invoice.

    c. The accounts payable clerk files invoices and supporting documentation after payment.

    d. The accounts payable manager issues purchase orders.

    Choice ‘d” is correct.

    I understand that D is the answer.But, C doesn’t look right to me. Should the A/P clerk file invoices and supporting doc BEFORE payment??? Someone help!!! Thanks!

    #424344

    Jennifer241
    Member

    A/P clerk files the invoices AFTER payment, the check signers will review the invoice and sign the check, then give back the invoice to the A/P clerk to file.

    If the A/P clerk filed the invoice before payment, then the check signer won’t have the invoices to verify while signing the check.

    #424345

    Focus the right answer D (I find C confusing also because I get all caught up in the Treasurer defacing support after signing bla bla bla). If the AP manager was in charge of issuing AND authorizing PO’s he/she could just create them for about anything and misuse that authority.

    #424346

    Angela
    Member

    @jennifer241

    Thank you so much! Now it makes sense.

    #424347

    Angela
    Member

    @jennifer241

    Thank you so much! Now it makes sense.

    #424348

    Angela
    Member

    @jennifer241

    Thank you so much! Now it makes sense.

    #424349

    Angela
    Member

    @jennifer241

    Thank you so much! Now it makes sense.

    #424350

    Angela
    Member

    @littlenumberrobot

    That’s the reason that I got confused too! Thanks!

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