(((Assignment Tasks))) Due to the converging role of accounting


Question Description:

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(((Assignment Tasks))) Due to the converging role of accounting and information systems in AB Hi-Fi, students are required to discuss with their group members and prepare a report according to the attached case study below. Case Study: AB Hi-Fi AB Hi-Fi is a multi-store retail business that sells products such as DVDs, CDs, mp3 players, game consoles and TVs. In addition, AB Hi-Fi also sells music, games and DVDs via its website. AB Hi-Fi has a central warehouse that is located in Melbourne. All products purchased by the business are delivered to this central warehouse. The narrative of the revenue cycle, recording payments process and expenditure cycle are as follows. Customers browse the AB Hi-Fi online store looking for products to purchase from the product catalogue. When they have located an item they wish to purchase they click on a ‘buy this item’ link located underneath the item required. The computer displays a screen showing the product ID number and asks the customer to enter the quantity of the item required. The customer keys in the quantity required. The computer then displays a screen asking the customer if they want to continue shopping. Once the customer indicates that they do not want to continue shopping the computer calculates and displays an order confirmation screen containing the product ID number, product price, quantity and total cost per item for each different item ordered, the shipping amount (AB has a standard shipping rate within Australia of $10 per delivery) and a total for all items and shipping costs. The screen asks the customer to input their credit card and delivery details to complete the order. The customer inputs the delivery details (name and address and credit card details (card number and expiry date) into the order confirmation screen. The computer assigns the next sales order number to the transaction, then displays a screen for the customer which provides the sales order number and confirms that the order has been completed. The computer records the sales order details in the sales event data store. At 11 pm every evening the computer extracts details of the day’s sales and updates the inventory levels. The computer prints a picking ticket (barcoded sales order number, items and quantities) on the warehouse printer and produces an electronic credit card check file listing all the credit card details (customer name, credit card number and expiry date) from the previous day’s sales. At 8 am every morning the warehouse clerk collects the picking tickets from the warehouse printer and picks the required goods from the shelf . lf any of the goods are not available the warehouse clerk puts back any goods they have already picked for the order and places the picking ticket in a folder on their desk labelled ‘awaiting goods’. lf all the goods are available the warehouse clerk takes the goods and the picking ticket to the shipping department. The shipping clerk scans the sales order number from the picking ticket, and the computer displays the order on the screen. The shipping clerk manually checks each item picked against the original sales order, and the picking ticket. The shipping clerk also checks the name on the sales order against the names highlighted on the credit card status report. lf the name on the order matches a name on the credit card status report, the goods and the picking ticket are sent back to the warehouse with a note attached indicating they cannot be shipped due to non-payment. Once they are satisfied that the credit card payment is not invalid, and that the correct items are being shipped, the shipping clerk checks a box on the sales order to indicate that shipping is complete. The computer updates the sales order and inventory data. The computer also prints a delivery slip for the order on a printer in the shipping department. The shipping clerk attaches the delivery slip to the goods and places them on the loading dock. Every day at 3 pm a carrier pic…

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