Select a place where you have worked part-time or an organization in which you have some acquaintance (relative or friend) and therefore have access. Choose one area of operations (cash receipts, sales, shipping, receiving, or payroll) for review. For the area selected:
a. Identify the major transactions processed.
b. Select a representative transaction and perform a walkthrough of the transaction to gain an understanding of processing and control procedures implemented to accomplish the control objectives described in the chapter.
c. Document the key control procedures using a control objectives framework.
d. Identify control procedures you would recommend to improve the organization’s internal controls.