I’m trying to learn for my Accounting class and I’m stuck. Can you help?

Figure 14-21 (on page 461) depicts the activities performed in the revenue cycle by the Newton Hardware Company.

a. Identify at least 3 weaknesses in Newton Hardware’s revenue cycle. Explain the resulting threat and suggest methods to correct the weakness. Hint: Answer this question using a table with 3 columns: weakness, threat, control/recommendations.

b. Identify ways to use IT to streamline Newton’s revenue cycle activities. Describe the control procedures required in the new system.


 

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