Question Acg

DQ5

A. A business processes is an activity, or a set of activities linked together with the common purpose of achieving the same goal. All business processes are documented for future reference; and serve personnel to follow it to the T.

In a clothing store, the sales and cash receipts process is considered to be an operating process. This process is a fundamental part of the overall strategy because it provides great value to the customer, and can make or break a sale. Also, this process serves to ensure that when sales are made they are responsibly documented following the detailed process that has been established.

The main goal of a business process is to understand, layout, and organize the structure of a business. In the case of a clothing store, this process would tell cashiers how to handle the different kind of situations that they will have to deal with. And how things need to be documented.

The sales and cash receipts process will help allocate, and also locate funds. Keeping track of sales directly affects inventory (assets) of a company and revenue. Making mistakes in this process could create huge mistakes on the books of the company. If money is not accounted for this could result in big legal problems that could lead to harsh accusations like money laundering and/or theft. This process will also provide management with reliable data on how the company is doing and will let them analyze different metrics of the business that will help in the decision-making process.

B. There are many risks that hinder the achievement of established objectives. Risks affecting the sales and cash receipts process include:

- Customer satisfaction

- Money laundering

- The misappropriation of company assets

- Keeping up to date and accurate documents and records.

C.

- Sales Process

- Cash Receipts Process

D. All of the risks found in the sales and cash receipt process are critical and play an important role in achieving the objectives layout by...