Question

Expenditure Cycle" Please respond to the following: Using your own present or previous place of work as an example, propose a method for mitigating the problem of separate departments (e.g., academics, student services, information technology, etc.) ordering the same item. From the proposal above, discuss the possible issues that implementing the proposed method would cause to the organization. Suggest additional controls that you would put into place to overcome the issues. Provide specific examples to support your response.

Answer 1

1. Expenditure Cycle is a repetitive cycle of producing or creating a purchase order and ordering goods for the purchasing department .

2. I would like to share my experience related to expenditure cycle , As I was working in a purchase department , with in a week i got order from the production department for providing goods to them . So for this purpose I issue a purchase order to the supplier and on that basis supplier issue to me a quatation .

After Agree with the quatation I will order goods from this supplier , this process is performed by me in every week .

so this is a concept of expenditure cycle.