AC210: Auditing I

Inventory and Production Cycle

Group (13-18) Presentations
1. Characteristics of the cycle Group 13

2. Basic requirements for any Inventory and Production Cycle Group 13

3. Narrative description of a manual Inventory and Production Group 14

Cycle by function.
4. Documents in the cycle (Explanation of their uses) Group 15
a. Goods received note
b. Materials (components) requisition,
c. materials (components) issue note
d. Manufacturing or production schedules
e. Job cards
f. Production report
g. Costing schedule
h. Transfer to finished goods note
i. Picking slip and delivery notes
j. Inventory sheet
k. Inventory tag
l. Inventory adjustment form
5. Flow charts for a Inventory and Production Cycle Lecturer

6. Warehousing : Function, documents, risks and control activities Lecturer

7. Production : Function, documents, risks and control activities Group 16

8. Inventory counts : cycle counts and year-end counts Group 17

9. Computerisation in the inventory and production cycle Lecturer

10. Fraud in the cycle Group 18

11.Post Inventory count Lecturer

Instructions
 Each group must prepare a powerpoint presentation (PPT) on their allocated section.
 The whole presentation must contain 10 – 15 slides.
 The first slide must contain the following items:
o Topic: Inventory and Production Cycle
o Section: e.g. Fraud in the Cycle.
o Group Name, e.g. group 18.
o A table of group members surname, first name and their registration numbers.