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What accounting problems need to be resolved

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Question: The flowchart below illustrates two alternative inventory ordering methods. Answer part 1 to 3 based on this flowchart.

Required: 1. Some organizations prefer using alternative two. What are the advantages of using alternative two instead of the alternative one? Be specific.

2. What is the difference between purchase requisition and purchase order?

3. Under what circumstances can you envision management using alternative one rather than alternative two?

4. Some accountants argue that the receiving department should be eliminated. Discuss the objective of eliminating the receiving function. What accounting/audit problems need to be resolved.

Reference no: EM132720390

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