ACCT_w4

1. Controlling inventory has evolved with the widespread use of technology. Describe one advance in technology that helps reduce theft or errors. What does your company use? Does this replace a physical inventory? Why or why not?

2. Compare internal control issues between the invoice approval and payment process in a manual office with that of an automated office where all departments are connected to the same AIS. Is an ink pen signature more desirable than a digital approval? Why or why not?

3. How do companies use responsibility centers? 

4. How are the managers of the responsibility centers held accountable?

5. Why is budgeting important? Describe how you use budgeting in your personal life or in your company.