9 Practice 3

Practice 3 Inventory count Dec 2007 Q1本题一定要亲自做，然后再根据视频判断自己水平！•上，基本写出语言也专业基本不需要听视频只需要快进抄答案对比即可，恭喜你！•中，心里都懂，基本能说出5点但是写的一般，请多加练习写作多读多写，通过考试没什么问题！•下，自己做的时候只能想到3点而已，反思下，请加倍努力，不要嫌弃蹇老师啰嗦，每一段视频都请用心去听，我们一起成长！Inventory count Dec 2007 Q1(c) On the day of the inventory count, you attended depot nine atDinZee. You observed the following activities:1.Prenumbered count sheets were being issued to client’s staffcarrying out the count. The count sheets showed the inventory ledger balances for checking against physical inventory.2.All count staff were drawn from the inventory warehouse and werecounting in teams of two.3.Three counting teams were allocated to each area of the stores tocount, although the teams were allowed to decide which pair of staff counted which inventory within each area. Staff were warned thatthey had to remember which inventory had been counted4. Information was recorded on the count sheets in pencil so amendments could be made easily as required.5. Any inventory not located on the pre-numbered inventory sheets was recorded on separate inventory sheets – which were numbered by staff as they were used.6. At the end of the count, all count sheets were collected and the numeric sequence of the sheets checked; the sheets were not signed.Required:(i) List the weaknesses in the control system for counting inventory at depot nine. (3 marks)(ii) For each weakness, explain why it is a weakness and state how that weakness can be overcome. (9 marks)Inventory count Dec 2007 Q 1Background control weekness ExplanationImplicaitonRecommendationcontrolInventory sheets stated the quantity of items expected to be found in the store Count teams will focus onfinding that number ofitems makingundercounting of inventorymore likely – teams stopcounting when ‘correct’number of items foundCount sheets shouldnot state the quantityof items so as not topre-judge how manyunits will be found.Inventory count Dec 2007 Q1Background control weekness ExplanationImplicaitonRecommendationcontrolCount staff were all drawn from the store Count staff are alsoresponsible for theinventory. There could be atemptation to hide errors ormissing inventory that theyhave removed from thestore illegallyCount teams shouldinclude staff who are notresponsible for inventoryto provide independencein the count.Inventory count Dec 2007 Q1Background control weekness ExplanationImplicaitonRecommendationcontrolCount teams allowed to decide which areas to count There is a danger that teamswill either omit inventoryfrom the count or even countinventory twice due to lackof precise instructions onwhere to count.Each team should begiven a precise area of thestore to count.Count sheets were not signed by the staff carrying out the count Lack of signature makes itdifficult to raise queriesregarding items countedbecause the actual staffcarrying out the count are notknown.All count sheets should besigned to confirm whoactually carried out thecount of individual itemsInventory count Dec 2007 Q1Background control weekness ExplanationImplicaitonRecommendationcontrolInventory not marked to indicate it has been counted As above, there is a dangerthat inventory will be eitheromitted or included twicein the count.Inventory should bemarked in some way toshow that it has beencounted to avoid thiserror.Recording information on the count sheets in pencil The count sheets could beamended after the count hastaken place, not just duringthe count. The inventorybalances will then beincorrectly recorded.Count sheets should becompleted in ink.Inventory count Dec 2007 Q1Background control weekness ExplanationImplicaitonRecommendationcontrolCount sheets for inventory not on the pre-numbered count sheets were only numbered when used It is possible that theadditional inventorysheets could be lost asthere is no overallcontrol of the sheetsactually being used.Sheets may not benumbered by the teams,again giving rise to thepossibility of lossAll inventory sheets,including those for‘extra’ inventory,should be pre-numberedInventory count Dec 2007 Q1。