outlinex - HomeworkMarket.com

whinnycampingΜηχανική

5 Νοε 2013 (πριν από 3 χρόνια και 8 μήνες)

116 εμφανίσεις

Assume you are a CPA with a small local practice in a major metropolitan area. You have three
professional employees, all relatively new CPAs (recent graduates from UMUC), and an
experienced office manager. In the past, your practice consists primarily
of tax and write
-
up
work, but you want to expand the practice. Based upon your desires to expand the practice, you
have found a new client, a growing homeowners' association consisting of 150 homeowners,
who is in the process of merging with four other hom
eowner associations within the next 6
months (which will increase the number of homeowners to 650). A part of the merger deal,
your client will also oversee & manage the additional 500 homeowners; therefore, you must be
prepared to handle this as part o
f your deal with th
e new client. See below for services.

In term of scope, for this specific opportunity, you are only required to automate the billing and
collections services; however, the client is very interested in having automation in other areas.

If
you decide to automate additional areas (such as payments & reporting), you must be able to
demonstrate the benefits for doing this; however, if you decide not to, you must clearly describe
the process for handling these areas from a manual perspec
tive. You will assume that the tax
preparation will be done via a PC
-
based tax program that your firm already has in place
.
12+
pages.

Executive Summary


1
-
2 page summary

Introduction

-
A narrative r4egarding the current business problem and how automat
ion may or may
not address the problem.

-

1
-
2 pages

Proposed System Requirements

-

Billing

(Example)

-

Each quarter you have to send each homeowner an itemized bill. Dues are $50
per month ($150 per quarter). Late fees are 1 percent per month of the unpaid bal
ance. The bills are
mailed the first day of the last month of the quarter. Payment is due by the end of the quarter.

o

Input Requirements



We will collect data regarding the property to bill the homeowners



We will need the following data



Homeowner Name



Add
ress



We will need to generate a homeowner listing

o

Output Requirements



We will generate a bill every
90

days



We will charge late fees



The bill will contain the following data



XXX



XXX



We will generate a homeowner statement showing current & past due
billings

o

Control Requirements



The billing & collecting functions will be segregated from each


-

Collection

-

You rent a post office box and will receive the checks there. You are responsible for
depositing the checks (you have opened a checking account for the association).

o

Input Requirements



Describe how you will DO the process



Describe / identify what DATA yo
u will need to DO the process



Describe / identify any FORMS you will need in order to DO the
process

o

Output Requirements



Describe / identify any REPORTS you will need to be generated from
the process



Describe / identify any DATA you will need to be generat
ed from the
process

o

Control Requirements



Describe how you will secure / control the process ( at least 3 controls)



Segregation of Duties


-

Payments

-

You write about five checks a month. Besides your own monthly fee, there are monthly
checks to a lawn maint
enance company and a refuse removal company. There are also checks written
for taxes, postage, supplies, and the like.

o

Input Requirements



Describe how you will DO the process



Describe / identify what DATA you will need to DO the process



Describe / identi
fy any FORMS you will need in order to DO the
process

o

Output Requirements



Describe / identify any REPORTS you will need to be generated from
the process



Describe / identify any DATA you will need to be generated from the
process

o

Control Requirements



Describe how you will secure / control the process ( at least 3 controls)



Segregation of Duties


-

Financial Reporting

-

You are responsible for reporting on all collections, all checks written,
outstanding homeowners' balances, and quarterly financial
statements.

o

Input Requirements



Describe how you will DO the process



Describe / identify what DATA you will need to DO the process



Describe / identify any FORMS you will need in order to DO the
process

o

Output Requirements



Describe / identify any REPORTS you

will need to be generated from
the process



Describe / identify any DATA you will need to be generated from the
process

o

Control Requirements



Describe how you will secure / control the process ( at least 3 controls)



Segregation of Duties


-

Tax

-

You are resp
onsible for preparing the association's federal and state tax returns.

o

Input Requirements



Describe how you will DO the process



Describe / identify what DATA you will need to DO the process



Describe / identify any FORMS you will need in order to DO the
proc
ess

o

Output Requirements



Describe / identify any REPORTS you will need to be generated from
the process



Describe / identify any DATA you will need to be generated from the
process

o

Control Requirements



Describe how you will secure / control the process ( at
least 3 controls)



Segregation of Duties


-

Others

-

Advisory

-

You are responsible for advising the board on an as
-
needed basis, especially in
the areas of budgeting, purchasing, and investment.

o

Input Requirements



Describe how you will DO the process



Descri
be / identify what DATA you will need to DO the process



Describe / identify any FORMS you will need in order to DO the
process

o

Output Requirements



Describe / identify any REPORTS you will need to be generated from
the process



Describe / identify any DATA y
ou will need to be generated from the
process

o

Control Requirements



Describe how you will secure / control the process ( at least 3 controls)



Segregation of Duties

Manual Functions

-

Identify and discuss those business/accounting functions which are required
and
cannot

be automated. Explain why. (payment and reporting)

-

1
-
2 pages

Make vs Buy Decision

-

Buy the system to handle automation or make the system

-

How much effort required?

-

2 pages

-

Propose a specific Buy option

-

Assume your firm is capable of developing

a system

Challenges to Automation

-

Discuss the challenges to developing and maintaining the system

-

2 pages

Appendix

-

Two sample forms

-

Two sample reports

-

Two sample financial statements