Page 77 - Demo

جميع الحقوق محفوظة ـ اإلعتداء عىل حق املؤلف 77 بالنسخ أو الطباعة يعرض فاعله للمسائلة القانونيةa) purchase requisition: is used to request goods and services by an authorized employeeb) purchase order: is a document used to order goods and services fromvendors. It includes the description, quantity, and related information for goods and services the company intends to purchaseWhen goods are received, adequate control requires examination for description, quantity, timely arrival, and condition 2. Receiving Goods and Services:The receipt by the company of goods or services from the vendor is a critical point in the cycle because it is when most companies first recognize the acquisition and related liability on their records requires examination for description, quantity, timely arrival, and condition: a) receiving report: is a paper or electronic document prepared at the time goods are received. It includes a description of the goods, the quantity received, the date received, and other relevant data.3. Recognizing the liability Goods and Services:The proper recognition of the liability for the receipt of goods and services requires prompt and accurate recording. The initial recording affects the financial statements and the actual cash disbursement; therefore, companies must take care to include all acquisition transactions, only acquisitions that occurred, and at the correct amounts.it is when most companies first recognize the acquisition and related liability on their records (where actual recording begins) includes several documents a) vendor’s invoice: is a document received from the vendor and shows the amount owed for an acquisition b) debit memo: a document received from the vendor and indicates a reduction in the amount owed to a vendor because of returned goods or an allowance granted