Introduction Visualizing processes and the flow of data is critical to understan

Question

Introduction Visualizing processes and the flow of data is critical to understanding an accounting information system. In prior assignments you reviewed a case study that described a collateral deposit process in a business environment, identified key roles, tasks, and processes in the process, and created a flow chart that accurately captures and describes a specific accounting information process in a detailed and complete manner. For this assignment, you will reflect on the process and write a summary with recommendations for strengthening the process. Activity InstructionsRefer to the detailed procedure list that you created in the Week 2, and the flowchart that you created in Week 4 to write a case summary. This summary should describe and categorize the identified processes by their efficiencies with a strict goal of adequate internal control. Processes that are inefficient should include suggestions for improvement. Refer to the original case study as necessary to accurately capture and describe details Writing Requirements (APA format) 2-3 pages (approx. 300 words per page), not including title page or references page 1-inch margins Double spaced 12-point Times New Roman font now

Explanation / Answer

Summary:

Collateral deposit process in business environment designed in a very methodical way where the roles and responsibility has been clearly defined at each stages of process. Identification of document has also been done in an efficient manner by using color code. Each document is of different color which facilitate its identification thus helps in reducing the error and making the process fast and efficient. There is an effective use of Responsibility matrix and everyone participants in process is clear about the task which it has to carry thus reduce the chance of confusion in the process. The whole process uses workflow model where predecessor stage should be complete before moving to the next stage thus ensure the completeness of each task. Feedback loop is another control that is very effective in complete collateral process. Documentation is complete at every stage in all sense before moving to the next stage thus documentation is also effective. In some stages there is duplicity of work which can be avoided by reducing the task and redefining few roles. The whole process is manual thus result in delay in activities and effective record keeping method. Use of a collateral deposit relate software which map all the business process helps in making the process fast and effective because one can add more controls in the software tool. The process can be analyzed from lean point of view and helps in reducing wastage related steps especially the positions of different role and their work station.

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