Description Part 3 :It is now year two (2016) of TechWear’s operations. You will be provided with more background on the order-to-cash cycle based on interviews the audit team conducted with key personnel. You will be asked to review the accounts receivable and sales processes and complete an audit data-planning analysis template (included in the instruction file). For the accounts receivable and sales processes, you will be asked for the auditing objective (or intention), what could go wrong (risks), and the mitigating control(s). You are not required to complete the data analysis auditing procedure to be performed and the corresponding data required for each procedure, but you may attempt those for additional credit opportunities.Instructions: The instructions for Part 3 are included in the document below.Submission:You may add your analysis to the table in the Word document attached, or you may submit an Excel file with your planning template (using the same column headings) completed through the assignment link. 3 attachmentsSlide 1 of 3attachment_1attachment_1attachment_2attachment_2attachment_3attachment_3.slider-slide > img { width: 100%; display: block; } .slider-slide > img:focus { margin: auto; } Unformatted Attachment Preview Analytics mindset TechWear Part III: Background: One year has passed and it is now time to begin the 2016 audit. TechWear’s business has continued to expand. Our initial analysis of 2016 data indicates a much greater risk in accounts receivable (compared with 2015). When the audit team discussed this with company management, we were reminded that last year’s accounts receivable proved to be fully collectible and we were assured that this year accounts receivable would also prove to be fully collectible as well. Management indicated that, similar to 2015, there have been no product returns or accounts written off in 2016. The senior has asked you to assist with planning the 2016 audit, beginning with the order-to-cash cycle, by focusing on accounts receivable and sales. She has asked that, for each of these processes, you describe the following at a high level: ► Audit objectives (or Intentions) ► Things that could go wrong in TechWear’s sales and accounts receivable system ► Mitigating controls designed to prevent or detect such occurrences ► Audit tests that use data analysis (including graphical views) to obtain evidence ► Data requirements needed to run the tests Your senior has already interviewed a number of key personnel (Director of Marketing and Sales, Shipping Supervisor, Business Office Director (responsible for billing and collections), Accounting Supervisor and the IT Director) and taken notes during these interviews, as follows: Analytics mindset case studies – TechWear © 2016 Ernst & Young Foundation (US). All Rights Reserved. SCORE No. 02315-161US 1 General notes TechWear has some very aggressive growth goals (targeting $38 million in global sales for calendar year 2016). The excitement on social media has been very encouraging, resulting in very positive trends in the number and size of orders from existing customers, as well as some prominent new customers. Sales personnel are under a significant amount of pressure to meet their monthly targets. The production department is barely able to keep up with the orders. Some have expressed concern that product quality may be impacted in the future unless changes are made to improve the manufacturing infrastructure. Management is planning a major renovation in early 2017 that will greatly expand its production capacity. One individual involved with R&D expressed concern that the product may not function as designed in some less technologically developed environments with sporadic connectivity and slower transmission speeds. Like many start-up companies, TechWear has operated with a very limited staff, resulting in an inadequate segregation of duties. At least two key employees are related, including the Director of IT and a top sales representative. Director of Marketing and Sales The Director oversees a small team of salespeople that market TechWear’s products to distribution outlets. An order cannot be entered into the system unless the customer has been set up in the customer master file, which reflects data such as the customer’s name, identification number (assigned by TechWear), billing information and credit limits. Historically, the process to set up a new customer involved running an extensive background and credit check, which could take up to 30 days. However, due to complaints from sales personnel, management decided to create a “provisional status” that would enable immediate order fulfillment while the credit check is in process. TechWear uses an order-entry system that enables sales personnel to generate an order. Once an order is entered, the system automatically generates a shipping order that appears on the shipping department’s order fulfillment log. Shipping Supervisor TechWear’s goal is to fulfill an order within 24 hours of its receipt. Orders entered near the end of the day (after the FedEx pickup time) are marked as “pending” and cleared out the following business day. At the time of shipment, TechWear’s shipping clerk enters the shipping number into the system and the FedEx identification number (all shipments for the same day have the same FedEx identification number), which then releases the order, resulting in the sales transaction being posted (with a transaction number that matches the shipping number) and an invoice being generated. The invoice is sent either electronically or via mail to the customer. At the same time, the cost of inventory relieved for items sold is automatically generated and recorded based on the shipping number. Typically, the cost of sales ranges between 35% and 45%. Analytics mindset case studies – TechWear © 2016 Ernst & Young Foundation (US). All Rights Reserved. SCORE No. 02315-161US 2 The ERP system automatically logs the date of shipment. A listing of unfilled (pending) orders can be generated from the system based on orders entered that do not list a shipping number, FedEx identification number and shipping weight. One is rarely produced because the company historically has not had a problem with orders being unfulfilled beyond 24 hours. The system allows an order entered late one day (noted as pending) to be overridden and released by the Director of IT as if the order had been fulfilled. The ERP system leaves no trail when this occurs, and simply removes the pending flag. TechWear strongly believes in its products and has an unlimited 90-day return policy that allows a customer to return any product for any reason within 90 days of purchase. Additionally, it warrants its products against manufacturing defects for two years. If a product is returned (which has not happened yet) the Shipping Department issues a credit memo to the customer, which results in a reversal of the sale. Business Office Director (responsible for billing and collections) Cash is collected either via checks received through the mail or a bank lockbox (which is the preferred method, given the size of its customers), whereby payments are posted by the bank directly into TechWear’s depository account. Customer billing disputes, which management says have been rare, are resolved by the Business Office. Thus far, there have been no bad debt write-offs, which management credits to the quality of its products and its extensive background checks. On a quarterly basis, the Business Office reviews an “Aged AR” listing of old accounts warranting further attention. If necessary, an allowance for “bad debts” would be recorded in the general ledger. Actual bad debts would be charged against the allowance. Accounting Supervisor The Accounting Office is responsible for making the bank deposit. It also reconciles the depository bank account at month-end, ensuring that all cash receipts have been accounted for. The main responsibility of the Accounting Office is to monitor daily sales and produce action reports for management. These are system-generated reports that are reviewed by an accounting analyst who flags adverse sales trends. The focus is on meeting company targets. Director of IT The IT Department (consisting of two individuals) is responsible for ensuring that TechWear’s website is running efficiently and is protected from internal and external threats. The Director has “super user” rights and can access any system. His assistant has full read-only rights and can only make changes to test files. The assistant has been charged with monitoring sales activity and ensuring continuity and security. Analytics mindset case studies – TechWear © 2016 Ernst & Young Foundation (US). All Rights Reserved. SCORE No. 02315-161US 3 Required: Complete the audit data analysis planning template on the following page. Note the following: ► This template has been partially completed for you to provide examples about how to complete the template. ► The scope of this case study is limited to internal data (i.e., only internal data is provided and no external data). External data provides a higher form of evidence. Examples of external data include data from a bank, a vendor (like FedEx) or others. Additionally, some internal data supplied externally (such as sales tax filings) often is better than data only used internally. Analytics mindset case studies – TechWear © 2016 Ernst & Young Foundation (US). All Rights Reserved. SCORE No. 02315-161US 4 Audit data analysis planning template Auditing objectives (Intentions) What could go wrong? Mitigating controls Data analysis auditing procedures Data requirements Accounts receivable – account balance Amounts reported in the financial statements represent valid receivables. An order is placed and a receivable is recorded without any product being shipped. Analytics mindset case studies – TechWear © 2016 Ernst & Young Foundation (US). All Rights Reserved. SCORE No. 02315-161US Debits to accounts receivable are only generated from the order entry system. ► Compare debits to accounts receivable against recorded sales. ► Review and test subsequent receipts. ► Evaluate proper segregation of duties by examining postings by source and preparer (e.g., sales only entered by authorized salesclerk). ► Sales amounts ► Cash receipt amounts ► Customer names ► Transaction dates ► Transaction numbers ► General ledger postings by preparer and source (e.g., order entry) A shipping number and FedEx identification number are entered into the system as evidence of order fulfillment and discrepancies are investigated. ► Verify that every sales transaction has a shipping number and FedEx identification number. ► Analyze gross margin percentage trends by month and by customer. ► Customer names ► Transaction numbers ► Shipping numbers ► FedEx ID numbers ► Sales amounts ► Cost of goods sold amounts ► Transaction dates 1 Auditing objectives (Intentions) What could go wrong? Mitigating controls Data analysis auditing procedures Data requirements Sales – class of transactions Amounts reported in the financial statements represent valid sales. An order is placed and a sale is recorded without any product being shipped. Analytics mindset case studies – TechWear © 2016 Ernst & Young Foundation (US). All Rights Reserved. SCORE No. 02315-161US A shipping number and FedEx identification number are entered into the system as evidence of order fulfillment and discrepancies are investigated. Verify that every sales transaction has a shipping number and FedEx identification number. ► Customer names ► Transaction numbers ► Shipping numbers ► FedEx ID numbers ► Sales amounts 2 Analytics mindset case studies – TechWear © 2016 Ernst & Young Foundation (US). All Rights Reserved. SCORE No. 02315-161US 1 Part I: 1) In tab “P1Q1” to pull in both sales and cash receipt to verify the $684,491.19 balance(In the amount column, I use the f 2) In tab “P1Q2” to validate the 15 customers and that spelling was correct(I used Remove Duplicates in the DATA option, 3) In cell O2 of the “2015 Data” tab I calculated the number of sales in the year with a countif statement if column A matc Part II: 1) I created a pivot table in tab “P2Q1 Pivot” to develop an AR trial balance by customer and by invoice (transaction numb 2) I created a bar graph in tab “P2Q2 Trend” based off data created from P2Q2 month. The chart is displaying sales and ca 3) Again using the same data I was able to create a table and a chart for DSO in tab “2015 data”. The increase in the DSO c 4) Some further information needed to be computed on 2015 data section to complete the AR aging. An index match form AR balance by invoice which is the difference between the invoice amount and the cash received. The last formula was co table tab “Age of AR” and group the aging AR into 0-30, 31-60, 61-90 and >90 buckets by customer. 5) Using the same pivot table regarding question four I developed a pivot chart. I copied the grand total row and category once can understand the grouped AR balance by percentage with a chart. ount column, I use the formula sum) ates in the DATA option, then click column A and Select All and finally click ok). ement if column A matched “Sales”. I also used conditional fomatting and selected duplicated values to make sure there were no duplicat voice (transaction number) if the dropdown is selected on the customer. is displaying sales and cash receipts by month on a YTD trend. The difference in sales and cash receipts in December is the AR balance. The increase in the DSO could represent credit issue customers or based off the decrease in December could be longer payment terms wit ing. An index match formula OR vlookup formula needed calcualted to reference the cash receipts to the invoices. Next another formula The last formula was computing the the difference between the year end date and the invoice date to calculate the age of AR. The next d total row and category row to calculate the percentage. I pulled in the sum of the AR balance and converted the dollars to percentages re there were no duplicate transactions ber is the AR balance. onger payment terms with customers. s. Next another formula needed created to find the the age of AR. The next step is to create a pivot e dollars to percentages of the total amount. Now Type Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales TransactionNumber AppliedToTransactionNumber CustNum CustName 1001 1836 Runner’s Market 1002 1168 Bigmart 1003 1167 Goodway 1004 1841 Neighborhood Athletic Supply 1005 1842 Northern Lites 1006 1168 Bigmart 1007 1167 Goodway 1008 1814 ValueChoice 1009 1841 Neighborhood Athletic Supply 1010 1842 Northern Lites 1011 1843 Southeast Regional 1012 1861 Family Fit 1013 1863 Fit N Fun 1014 1864 Cross Country Mart 1015 1840 Super Runners Mark 1016 1841 Neighborhood Athletic Supply 1017 1842 Northern Lites 1018 1167 Goodway 1019 1814 ValueChoice 1020 1838 Urban Runner 1021 1863 Fit N Fun 1022 1864 Cross Country Mart 1023 1861 Family Fit 1024 1862 Corner Runner 1025 1840 Super Runners Mark 1026 1841 Neighborhood Athletic Supply 1027 1842 Northern Lites 1028 1861 Family Fit 1029 1842 Northern Lites 1030 1843 Southeast Regional 1031 1836 Runner’s Market 1032 1841 Neighborhood Athletic Supply 1033 1168 Bigmart 1034 1837 Cool Threads 1035 1841 Neighborhood Athletic Supply 1036 1814 ValueChoice 1037 1167 Goodway 1038 1861 Family Fit 1039 1837 Cool Threads 1040 1842 Northern Lites 1041 1843 Southeast Regional 1042 1168 Bigmart 1043 1814 ValueChoice 1044 1837 Cool Threads 1045 1168 Bigmart 1046 1862 Corner Runner 1047 1863 Fit N Fun 1048 1842 Northern Lites 1049 1843 Southeast Regional 1050 1861 Family Fit 1051 1839 Southern Runners 1052 1840 Super Runners Mark 1053 1841 Neighborhood Athletic Supply 1054 1861 Family Fit Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales 1055 1056 1057 1058 1059 1060 1061 1062 1063 1064 1065 1066 1067 1068 1069 1070 1071 1072 1073 1074 1075 1076 1077 1078 1079 1080 1081 1082 1083 1084 1085 1086 1087 1088 1089 1090 1091 1092 1093 1094 1095 1096 1097 1098 1099 1100 1101 1102 1103 1104 1105 1106 1107 1108 1109 1843 1840 1842 1839 1841 1840 1838 1842 1167 1843 1842 1861 1861 1862 1863 1864 1168 1861 1842 1863 1862 1837 1840 1842 1843 1861 1843 1836 1862 1167 1836 1814 1840 1841 1843 1842 1864 1863 1168 1862 1837 1840 1863 1864 1842 1843 1168 1842 1839 1842 1814 1862 1863 1864 1843 Southeast Regional Super Runners Mark Northern Lites Southern Runners Neighborhood Athletic Supply Super Runners Mark Urban Runner Northern Lites Goodway Southeast Regional Northern Lites Family Fit Family Fit Corner Runner Fit N Fun Cross Country Mart Bigmart Family Fit Northern Lites Fit N Fun Corner Runner Cool Threads Super Runners Mark Northern Lites Southeast Regional Family Fit Southeast Regional Runner’s Market Corner Runner Goodway Runner’s Market ValueChoice Super Runners Mark Neighborhood Athletic Supply Southeast Regional Northern Lites Cross Country Mart Fit N Fun Bigmart Corner Runner Cool Threads Super Runners Mark Fit N Fun Cross Country Mart Northern Lites Southeast Regional Bigmart Northern Lites Southern Runners Northern Lites ValueChoice Corner Runner Fit N Fun Cross Country Mart Southeast Regional Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales 1110 1111 1112 1113 1114 1115 1116 1117 1118 1119 1120 1121 1122 1123 1124 1125 1126 1127 1128 1129 1130 1131 1132 1133 1134 1135 1136 1137 1138 1139 1140 1141 1142 1143 1144 1145 1146 1147 1148 1149 1150 1151 1152 1153 1154 1155 1156 1157 1158 1159 1160 1161 1162 1163 1164 1814 1842 1167 1843 1841 1861 1843 1836 1841 1842 1843 1168 1838 1843 1836 1839 1864 1862 1814 1837 1861 1843 1842 1840 1843 1168 1841 1862 1838 1168 1839 1836 1167 1168 1837 1861 1814 1168 1840 1168 1837 1814 1863 1837 1167 1168 1863 1862 1842 1843 1837 1862 1863 1836 1843 ValueChoice Northern Lites Goodway Southeast Regional Neighborhood Athletic Supply Family Fit Southeast Regional Runner’s Market Neighborhood Athletic Supply Northern Lites Southeast Regional Bigmart Urban Runner Southeast Regional Runner’s Market Southern Runners Cross Country Mart Corner Runner ValueChoice Cool Threads Family Fit Southeast Regional Northern Lites Super Runners Mark Southeast Regional Bigmart Neighborhood Athletic Supply Corner Runner Urban Runner Bigmart Southern Runners Runner’s Market Goodway Bigmart Cool Threads Family Fit ValueChoice Bigmart Super Runners Mark Bigmart Cool Threads ValueChoice Fit N Fun Cool Threads Goodway Bigmart Fit N Fun Corner Runner Northern Lites Southeast Regional Cool Threads Corner Runner Fit N Fun Runner’s Market Southeast Regional Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales 1165 1166 1167 1168 1169 1170 1171 1172 1173 1174 1175 1176 1177 1178 1179 1180 1181 1182 1183 1184 1185 1186 1187 1188 1189 1190 1191 1192 1193 1194 1195 1196 1197 1198 1199 1200 1201 1202 1203 1204 1205 1206 1207 1208 1209 1210 1211 1212 1213 1214 1215 1216 1217 1218 1219 1861 1863 1864 1838 1836 1842 1864 1839 1837 1168 1838 1840 1842 1861 1814 1837 1839 1863 1168 1838 1167 1839 1840 1838 1842 1836 1840 1837 1167 1839 1168 1842 1840 1839 1167 1842 1841 1838 1842 1168 1839 1836 1840 1838 1837 1814 1841 1861 1863 1842 1838 1843 1838 1836 1843 Family Fit Fit N Fun Cross Country Mart Urban Runner Runner’s Market Northern Lites Cross Country Mart Southern Runners Cool Threads Bigmart Urban Runner Super Runners Mark Northern Lites Family Fit ValueChoice Cool Threads Southern Runners Fit N Fun Bigmart Urban Runner Goodway Southern Runners Super Runners Mark Urban Runner Northern Lites Runner’s Market Super Runners Mark Cool Threads Goodway Southern Runners Bigmart Northern Lites Super Runners Mark Southern Runners Goodway Northern Lites Neighborhood Athletic Supply Urban Runner Northern Lites Bigmart Southern Runners Runner’s Market Super Runners Mark Urban Runner Cool Threads ValueChoice Neighborhood Athletic Supply Family Fit Fit N Fun Northern Lites Urban Runner Southeast Regional Urban Runner Runner’s Market Southeast Regional Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales Sales CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt 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1842 1168 1839 1842 1837 1836 1168 1167 1841 1842 1168 1167 1814 1841 1842 1843 1861 1863 1864 1840 1841 1842 1167 1814 1838 1863 1864 1861 1862 1840 1841 1842 1861 1842 1843 1836 1841 1168 1837 1841 1814 1167 1861 1837 1842 1843 1168 1814 1837 Northern Lites Southeast Regional Cool Threads Northern Lites ValueChoice Southeast Regional Northern Lites Bigmart Southern Runners Northern Lites Cool Threads Runner’s Market Bigmart Goodway Neighborhood Athletic Supply Northern Lites Bigmart Goodway ValueChoice Neighborhood Athletic Supply Northern Lites Southeast Regional Family Fit Fit N Fun Cross Country Mart Super Runners Mark Neighborhood Athletic Supply Northern Lites Goodway ValueChoice Urban Runner Fit N Fun Cross Country Mart Family Fit Corner Runner Super Runners Mark Neighborhood Athletic Supply Northern Lites Family Fit Northern Lites Southeast Regional Runner’s Market Neighborhood Athletic Supply Bigmart Cool Threads Neighborhood Athletic Supply ValueChoice Goodway Family Fit Cool Threads Northern Lites Southeast Regional Bigmart ValueChoice Cool Threads CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt 11045 11046 11047 11048 11049 11050 11051 11052 11053 11054 11055 11056 11057 11058 11059 11060 11061 11062 11063 11064 11065 11066 11067 11068 11069 11070 11071 11072 11073 11074 11075 11076 11077 11078 11079 11080 11081 11082 11083 11084 11085 11086 11087 11088 11089 11090 11091 11092 11093 11094 11095 11096 11097 11098 11099 1045 1046 1047 1048 1049 1050 1051 1052 1053 1054 1055 1056 1057 1058 1059 1060 1061 1062 1063 1064 1065 1066 1067 1068 1069 1070 1071 1072 1073 1074 1075 1076 1077 1078 1079 1080 1081 1082 1083 1084 1085 1086 1087 1088 1089 1090 1091 1092 1093 1094 1095 1096 1097 1098 1099 1168 1862 1863 1842 1843 1861 1839 1840 1841 1861 1843 1840 1842 1839 1841 1840 1838 1842 1167 1843 1842 1861 1861 1862 1863 1864 1168 1861 1842 1863 1862 1837 1840 1842 1843 1861 1843 1836 1862 1167 1836 1814 1840 1841 1843 1842 1864 1863 1168 1862 1837 1840 1863 1864 1842 Bigmart Corner Runner Fit N Fun Northern Lites Southeast Regional Family Fit Southern Runners Super Runners Mark Neighborhood Athletic Supply Family Fit Southeast Regional Super Runners Mark Northern Lites Southern Runners Neighborhood Athletic Supply Super Runners Mark Urban Runner Northern Lites Goodway Southeast Regional Northern Lites Family Fit Family Fit Corner Runner Fit N Fun Cross Country Mart Bigmart Family Fit Northern Lites Fit N Fun Corner Runner Cool Threads Super Runners Mark Northern Lites Southeast Regional Family Fit Southeast Regional Runner’s Market Corner Runner Goodway Runner’s Market ValueChoice Super Runners Mark Neighborhood Athletic Supply Southeast Regional Northern Lites Cross Country Mart Fit N Fun Bigmart Corner Runner Cool Threads Super Runners Mark Fit N Fun Cross Country Mart Northern Lites CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt 11100 11101 11102 11103 11104 11105 11106 11107 11108 11109 11110 11111 11112 11113 11114 11115 11116 11117 11118 11119 11120 11121 11122 11123 11124 11125 11126 11127 11128 11129 11130 11131 11133 11134 11135 11136 11137 11138 11139 11140 11141 11142 11143 11144 11145 11146 11147 11148 11149 11150 11151 11152 11153 11154 11155 1100 1101 1102 1103 1104 1105 1106 1107 1108 1109 1110 1111 1112 1113 1114 1115 1116 1117 1118 1119 1120 1121 1122 1123 1124 1125 1126 1127 1128 1129 1130 1131 1133 1134 1135 1136 1137 1138 1139 1140 1141 1142 1143 1144 1145 1146 1147 1148 1149 1150 1151 1152 1153 1154 1155 1843 1168 1842 1839 1842 1814 1862 1863 1864 1843 1814 1842 1167 1843 1841 1861 1843 1836 1841 1842 1843 1168 1838 1843 1836 1839 1864 1862 1814 1837 1861 1843 1840 1843 1168 1841 1862 1838 1168 1839 1836 1167 1168 1837 1861 1814 1168 1840 1168 1837 1814 1863 1837 1167 1168 Southeast Regional Bigmart Northern Lites Southern Runners Northern Lites ValueChoice Corner Runner Fit N Fun Cross Country Mart Southeast Regional ValueChoice Northern Lites Goodway Southeast Regional Neighborhood Athletic Supply Family Fit Southeast Regional Runner’s Market Neighborhood Athletic Supply Northern Lites Southeast Regional Bigmart Urban Runner Southeast Regional Runner’s Market Southern Runners Cross Country Mart Corner Runner ValueChoice Cool Threads Family Fit Southeast Regional Super Runners Mark Southeast Regional Bigmart Neighborhood Athletic Supply Corner Runner Urban Runner Bigmart Southern Runners Runner’s Market Goodway Bigmart Cool Threads Family Fit ValueChoice Bigmart Super Runners Mark Bigmart Cool Threads ValueChoice Fit N Fun Cool Threads Goodway Bigmart CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt CashReceipt 11156 11157 11160 11161 11162 11163 11164 11165 11166 11167 11170 11173 11174 11175 11180 11181 11182 11184 11187 11190 11192 11196 11200 11214 1156 1157 1160 1161 1162 1163 1164 1165 1166 1167 1170 1173 1174 1175 1180 1181 1182 1184 1187 1190 1192 1196 1200 1214 1863 1862 1837 1862 1863 1836 1843 1861 1863 1864 1842 1837 1168 1838 1837 1839 1863 1838 1840 1836 1837 1842 1842 1842 Fit N Fun Corner Runner Cool Threads Corner Runner Fit N Fun Runner’s Market Southeast Regional Family Fit Fit N Fun Cross Country Mart Northern Lites Cool Threads Bigmart Urban Runner Cool Threads Southern Runners Fit N Fun Urban Runner Super Runners Mark Runner’s Market Cool Threads Northern Lites Northern Lites Northern Lites Amount TransactionDate InvoiceDate ShipDate Cash Received December 31 2015 $ 16,157.44 5-Mar-15 5-Mar-15 5-Mar-15 -16157.44 $ $ 9,144.00 5-Mar-15 5-Mar-15 5-Mar-15 -9144 $ $ 15,737.60 5-Mar-15 5-Mar-15 5-Mar-15 -15737.6 $ $ 6,008.00 8-Mar-15 8-Mar-15 8-Mar-15 -6008 $ $ 7,241.60 8-Mar-15 8-Mar-15 8-Mar-15 -7241.6 $ $ 8,476.00 13-Mar-15 13-Mar-15 13-Mar-15 -8476 $ $ 15,737.60 13-Mar-15 13-Mar-15 13-Mar-15 -15737.6 $ $ 9,084.40 13-Mar-15 13-Mar-15 13-Mar-15 -9084.4 $ $ 4,240.00 16-Mar-15 16-Mar-15 16-Mar-15 -4240 $ $ 5,993.60 16-Mar-15 16-Mar-15 16-Mar-15 -5993.6 $ $ 9,019.12 16-Mar-15 16-Mar-15 16-Mar-15 -9019.12 $ $ 6,552.40 23-Mar-15 23-Mar-15 23-Mar-15 -6552.4 $ $ 5,008.64 23-Mar-15 23-Mar-15 23-Mar-15 -5008.64 $ $ 11,113.60 23-Mar-15 23-Mar-15 23-Mar-15 -11113.6 $ $ 17,677.04 27-Mar-15 27-Mar-15 27-Mar-15 -17677.04 $ $ 4,240.00 27-Mar-15 27-Mar-15 27-Mar-15 -4240 $ $ 7,241.60 30-Mar-15 30-Mar-15 30-Mar-15 -7241.6 $ $ 19,672.00 2-Apr-15 2-Apr-15 2-Apr-15 -19672 $ $ 6,975.00 3-Apr-15 3-Apr-15 3-Apr-15 -6975 $ $ 16,230.00 3-Apr-15 3-Apr-15 3-Apr-15 -16230 $ $ 7,330.80 6-Apr-15 6-Apr-15 6-Apr-15 -7330.8 $ $ 13,892.00 6-Apr-15 6-Apr-15 6-Apr-15 -13892 $ $ 8,074.40 6-Apr-15 6-Apr-15 6-Apr-15 -8074.4 $ $ 9,642.00 6-Apr-15 6-Apr-15 6-Apr-15 -9642 $ $ 22,096.30 10-Apr-15 10-Apr-15 10-Apr-15 -22096.3 $ $ 7,510.00 10-Apr-15 10-Apr-15 10-Apr-15 -7510 $ $ 9,052.00 12-Apr-15 12-Apr-15 12-Apr-15 -9052 $ $ 8,190.50 17-Apr-15 17-Apr-15 17-Apr-15 -8190.5 $ $ 9,052.00 17-Apr-15 17-Apr-15 17-Apr-15 -9052 $ $ 11,273.90 17-Apr-15 17-Apr-15 17-Apr-15 -11273.9 $ $ 19,571.80 23-Apr-15 23-Apr-15 23-Apr-15 -19571.8 $ $ 1,300.00 23-Apr-15 23-Apr-15 23-Apr-15 -1300 $ $ 835.00 23-Apr-15 23-Apr-15 23-Apr-15 -835 $ $ 7,600.00 23-Apr-15 23-Apr-15 23-Apr-15 -7600 $ $ 702.00 23-Apr-15 23-Apr-15 23-Apr-15 -702 $ $ 4,380.50 23-Apr-15 23-Apr-15 23-Apr-15 -4380.5 $ $ 19,312.00 23-Apr-15 23-Apr-15 23-Apr-15 -19312 $ $ 8,074.40 24-Apr-15 24-Apr-15 24-Apr-15 -8074.4 $ $ 14,092.60 24-Apr-15 24-Apr-15 24-Apr-15 -14092.6 $ $ 9,052.00 27-Apr-15 27-Apr-15 27-Apr-15 -9052 $ $ 11,119.10 27-Apr-15 27-Apr-15 27-Apr-15 -11119.1 $ $ 663.60 1-May-15 1-May-15 1-May-15 -663.6 $ $ 8,641.08 1-May-15 1-May-15 1-May-15 -8641.08 $ $ 11,424.67 1-May-15 1-May-15 1-May-15 -11424.67 $ $ 520.80 4-May-15 4-May-15 4-May-15 -520.8 $ $ 7,851.48 4-May-15 4-May-15 4-May-15 -7851.48 $ $ 6,159.72 4-May-15 4-May-15 4-May-15 -6159.72 $ $ 7,603.68 11-May-15 11-May-15 11-May-15 -7603.68 $ $ 9,340.04 11-May-15 11-May-15 11-May-15 -9340.04 $ $ 6,880.02 11-May-15 11-May-15 11-May-15 -6880.02 $ $ 20,832.00 15-May-15 15-May-15 15-May-15 -20832 $ $ 18,528.38 15-May-15 15-May-15 15-May-15 -18528.38 $ $ 3,015.60 15-May-15 15-May-15 15-May-15 -3015.6 $ $ 6,555.70 18-May-15 18-May-15 18-May-15 -6555.7 $ – $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 9,537.44 18,713.67 7,125.23 21,258.94 3,071.88 18,899.93 18,766.27 3,408.72 5,066.88 10,341.24 8,391.94 7,813.39 7,896.37 9,441.82 7,441.67 13,940.70 11,738.30 7,979.70 8,551.80 7,527.80 9,537.44 13,744.34 22,709.74 8,632.26 11,688.63 8,147.34 11,805.61 19,709.89 9,731.16 22,114.82 23,674.76 12,327.94 26,463.75 4,283.44 13,625.81 10,051.11 16,594.74 8,902.72 7,527.80 9,537.44 13,744.34 22,709.74 9,105.39 16,932.51 8,632.26 11,688.63 25,976.16 8,212.96 49,452.37 23,758.22 12,687.02 12,421.74 9,895.25 18,357.25 13,328.83 18-May-15 22-May-15 25-May-15 27-May-15 27-May-15 27-May-15 27-May-15 29-May-15 29-May-15 29-May-15 2-Jun-15 2-Jun-15 5-Jun-15 8-Jun-15 8-Jun-15 8-Jun-15 11-Jun-15 12-Jun-15 12-Jun-15 15-Jun-15 15-Jun-
Description
Part 3 :It is now year two (2016) of TechWear’s operations. You will be provided with more background on the order-to-cash cycle based on interviews the audit team conducted with key personnel. You will be asked to review the accounts receivable and sales processes and complete an audit data-planning analysis template (included in the instruction file). For the accounts receivable and sales processes, you will be asked for the auditing objective (or intention), what could go wrong (risks), and the mitigating control(s). You are not required to complete the data analysis auditing procedure to be performed and the corresponding data required for each procedure, but you may attempt those for additional credit opportunities.Instructions: The instructions for Part 3 are included in the document below.Submission:You may add your analysis to the table in the Word document attached, or you may submit an Excel file with your planning template (using the same column headings) completed through the assignment link.
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Analytics mindset
TechWear
Part III:
Background:
One year has passed and it is now time to begin the 2016 audit. TechWear’s business has continued to
expand. Our initial analysis of 2016 data indicates a much greater risk in accounts receivable (compared
with 2015). When the audit team discussed this with company management, we were reminded that last
year’s accounts receivable proved to be fully collectible and we were assured that this year accounts
receivable would also prove to be fully collectible as well. Management indicated that, similar to 2015,
there have been no product returns or accounts written off in 2016.
The senior has asked you to assist with planning the 2016 audit, beginning with the order-to-cash cycle,
by focusing on accounts receivable and sales. She has asked that, for each of these processes, you
describe the following at a high level:
► Audit objectives (or Intentions)
► Things that could go wrong in TechWear’s sales and accounts receivable system
► Mitigating controls designed to prevent or detect such occurrences
► Audit tests that use data analysis (including graphical views) to obtain evidence
► Data requirements needed to run the tests
Your senior has already interviewed a number of key personnel (Director of Marketing and Sales,
Shipping Supervisor, Business Office Director (responsible for billing and collections), Accounting
Supervisor and the IT Director) and taken notes during these interviews, as follows:
Analytics mindset case studies – TechWear
© 2016 Ernst & Young Foundation (US). All Rights Reserved.
SCORE No. 02315-161US
1
General notes
TechWear has some very aggressive growth goals (targeting $38 million in global sales for calendar year
2016).
The excitement on social media has been very encouraging, resulting in very positive trends in the
number and size of orders from existing customers, as well as some prominent new customers.
Sales personnel are under a significant amount of pressure to meet their monthly targets.
The production department is barely able to keep up with the orders. Some have expressed concern that
product quality may be impacted in the future unless changes are made to improve the manufacturing
infrastructure.
Management is planning a major renovation in early 2017 that will greatly expand its production capacity.
One individual involved with R&D expressed concern that the product may not function as designed in
some less technologically developed environments with sporadic connectivity and slower transmission
speeds.
Like many start-up companies, TechWear has operated with a very limited staff, resulting in an
inadequate segregation of duties. At least two key employees are related, including the Director of IT and
a top sales representative.
Director of Marketing and Sales
The Director oversees a small team of salespeople that market TechWear’s products to distribution
outlets.
An order cannot be entered into the system unless the customer has been set up in the customer master
file, which reflects data such as the customer’s name, identification number (assigned by TechWear),
billing information and credit limits. Historically, the process to set up a new customer involved running an
extensive background and credit check, which could take up to 30 days. However, due to complaints from
sales personnel, management decided to create a “provisional status” that would enable immediate order
fulfillment while the credit check is in process.
TechWear uses an order-entry system that enables sales personnel to generate an order. Once an order
is entered, the system automatically generates a shipping order that appears on the shipping
department’s order fulfillment log.
Shipping Supervisor
TechWear’s goal is to fulfill an order within 24 hours of its receipt. Orders entered near the end of the day
(after the FedEx pickup time) are marked as “pending” and cleared out the following business day.
At the time of shipment, TechWear’s shipping clerk enters the shipping number into the system and the
FedEx identification number (all shipments for the same day have the same FedEx identification number),
which then releases the order, resulting in the sales transaction being posted (with a transaction number
that matches the shipping number) and an invoice being generated. The invoice is sent either
electronically or via mail to the customer. At the same time, the cost of inventory relieved for items sold is
automatically generated and recorded based on the shipping number. Typically, the cost of sales ranges
between 35% and 45%.
Analytics mindset case studies – TechWear
© 2016 Ernst & Young Foundation (US). All Rights Reserved.
SCORE No. 02315-161US
2
The ERP system automatically logs the date of shipment.
A listing of unfilled (pending) orders can be generated from the system based on orders entered that do
not list a shipping number, FedEx identification number and shipping weight. One is rarely produced
because the company historically has not had a problem with orders being unfulfilled beyond 24 hours.
The system allows an order entered late one day (noted as pending) to be overridden and released by
the Director of IT as if the order had been fulfilled. The ERP system leaves no trail when this occurs, and
simply removes the pending flag.
TechWear strongly believes in its products and has an unlimited 90-day return policy that allows a
customer to return any product for any reason within 90 days of purchase. Additionally, it warrants its
products against manufacturing defects for two years.
If a product is returned (which has not happened yet) the Shipping Department issues a credit memo to
the customer, which results in a reversal of the sale.
Business Office Director (responsible for billing and collections)
Cash is collected either via checks received through the mail or a bank lockbox (which is the preferred
method, given the size of its customers), whereby payments are posted by the bank directly into
TechWear’s depository account.
Customer billing disputes, which management says have been rare, are resolved by the Business Office.
Thus far, there have been no bad debt write-offs, which management credits to the quality of its products
and its extensive background checks. On a quarterly basis, the Business Office reviews an “Aged AR”
listing of old accounts warranting further attention. If necessary, an allowance for “bad debts” would be
recorded in the general ledger. Actual bad debts would be charged against the allowance.
Accounting Supervisor
The Accounting Office is responsible for making the bank deposit. It also reconciles the depository bank
account at month-end, ensuring that all cash receipts have been accounted for.
The main responsibility of the Accounting Office is to monitor daily sales and produce action reports for
management. These are system-generated reports that are reviewed by an accounting analyst who flags
adverse sales trends. The focus is on meeting company targets.
Director of IT
The IT Department (consisting of two individuals) is responsible for ensuring that TechWear’s website is
running efficiently and is protected from internal and external threats. The Director has “super user” rights
and can access any system. His assistant has full read-only rights and can only make changes to test
files. The assistant has been charged with monitoring sales activity and ensuring continuity and security.
Analytics mindset case studies – TechWear
© 2016 Ernst & Young Foundation (US). All Rights Reserved.
SCORE No. 02315-161US
3
Required:
Complete the audit data analysis planning template on the following page. Note the following:
► This template has been partially completed for you to provide examples about how to complete the
template.
► The scope of this case study is limited to internal data (i.e., only internal data is provided and no
external data). External data provides a higher form of evidence. Examples of external data include
data from a bank, a vendor (like FedEx) or others. Additionally, some internal data supplied externally
(such as sales tax filings) often is better than data only used internally.
Analytics mindset case studies – TechWear
© 2016 Ernst & Young Foundation (US). All Rights Reserved.
SCORE No. 02315-161US
4
Audit data analysis planning template
Auditing objectives
(Intentions)
What could go
wrong?
Mitigating controls
Data analysis auditing
procedures
Data requirements
Accounts receivable – account balance
Amounts reported in
the financial
statements represent
valid receivables.
An order is placed and
a receivable is
recorded without any
product being shipped.
Analytics mindset case studies – TechWear
© 2016 Ernst & Young Foundation (US). All Rights Reserved.
SCORE No. 02315-161US
Debits to accounts
receivable are only
generated from the
order entry system.
► Compare debits to
accounts receivable
against recorded
sales.
► Review and test
subsequent receipts.
► Evaluate proper
segregation of duties
by examining
postings by source
and preparer (e.g.,
sales only entered by
authorized
salesclerk).
► Sales amounts
► Cash receipt
amounts
► Customer names
► Transaction dates
► Transaction
numbers
► General ledger
postings by
preparer and
source (e.g., order
entry)
A shipping number
and FedEx
identification number
are entered into the
system as evidence of
order fulfillment and
discrepancies are
investigated.
► Verify that every
sales transaction has
a shipping number
and FedEx
identification
number.
► Analyze gross
margin percentage
trends by month and
by customer.
► Customer names
► Transaction
numbers
► Shipping numbers
► FedEx ID numbers
► Sales amounts
► Cost of goods sold
amounts
► Transaction dates
1
Auditing objectives
(Intentions)
What could go
wrong?
Mitigating controls
Data analysis auditing
procedures
Data requirements
Sales – class of transactions
Amounts reported in
the financial
statements represent
valid sales.
An order is placed and
a sale is recorded
without any product
being shipped.
Analytics mindset case studies – TechWear
© 2016 Ernst & Young Foundation (US). All Rights Reserved.
SCORE No. 02315-161US
A shipping number
and FedEx
identification number
are entered into the
system as evidence of
order fulfillment and
discrepancies are
investigated.
Verify that every sales
transaction has a
shipping number and
FedEx identification
number.
► Customer names
► Transaction
numbers
► Shipping numbers
► FedEx ID numbers
► Sales amounts
2
Analytics mindset case studies – TechWear
© 2016 Ernst & Young Foundation (US). All Rights Reserved.
SCORE No. 02315-161US
1
Part I:
1) In tab “P1Q1” to pull in both sales and cash receipt to verify the $684,491.19 balance(In the amount column, I use the f
2) In tab “P1Q2” to validate the 15 customers and that spelling was correct(I used Remove Duplicates in the DATA option,
3) In cell O2 of the “2015 Data” tab I calculated the number of sales in the year with a countif statement if column A matc
Part II:
1) I created a pivot table in tab “P2Q1 Pivot” to develop an AR trial balance by customer and by invoice (transaction numb
2) I created a bar graph in tab “P2Q2 Trend” based off data created from P2Q2 month. The chart is displaying sales and ca
3) Again using the same data I was able to create a table and a chart for DSO in tab “2015 data”. The increase in the DSO c
4) Some further information needed to be computed on 2015 data section to complete the AR aging. An index match form
AR balance by invoice which is the difference between the invoice amount and the cash received. The last formula was co
table tab “Age of AR” and group the aging AR into 0-30, 31-60, 61-90 and >90 buckets by customer.
5) Using the same pivot table regarding question four I developed a pivot chart. I copied the grand total row and category
once can understand the grouped AR balance by percentage with a chart.
ount column, I use the formula sum)
ates in the DATA option, then click column A and Select All and finally click ok).
ement if column A matched “Sales”. I also used conditional fomatting and selected duplicated values to make sure there were no duplicat
voice (transaction number) if the dropdown is selected on the customer.
is displaying sales and cash receipts by month on a YTD trend. The difference in sales and cash receipts in December is the AR balance.
The increase in the DSO could represent credit issue customers or based off the decrease in December could be longer payment terms wit
ing. An index match formula OR vlookup formula needed calcualted to reference the cash receipts to the invoices. Next another formula
The last formula was computing the the difference between the year end date and the invoice date to calculate the age of AR. The next
d total row and category row to calculate the percentage. I pulled in the sum of the AR balance and converted the dollars to percentages
re there were no duplicate transactions
ber is the AR balance.
onger payment terms with customers.
s. Next another formula needed created to find the
the age of AR. The next step is to create a pivot
e dollars to percentages of the total amount. Now
Type
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
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Sales
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Sales
Sales
TransactionNumber AppliedToTransactionNumber CustNum CustName
1001
1836 Runner’s Market
1002
1168 Bigmart
1003
1167 Goodway
1004
1841 Neighborhood Athletic Supply
1005
1842 Northern Lites
1006
1168 Bigmart
1007
1167 Goodway
1008
1814 ValueChoice
1009
1841 Neighborhood Athletic Supply
1010
1842 Northern Lites
1011
1843 Southeast Regional
1012
1861 Family Fit
1013
1863 Fit N Fun
1014
1864 Cross Country Mart
1015
1840 Super Runners Mark
1016
1841 Neighborhood Athletic Supply
1017
1842 Northern Lites
1018
1167 Goodway
1019
1814 ValueChoice
1020
1838 Urban Runner
1021
1863 Fit N Fun
1022
1864 Cross Country Mart
1023
1861 Family Fit
1024
1862 Corner Runner
1025
1840 Super Runners Mark
1026
1841 Neighborhood Athletic Supply
1027
1842 Northern Lites
1028
1861 Family Fit
1029
1842 Northern Lites
1030
1843 Southeast Regional
1031
1836 Runner’s Market
1032
1841 Neighborhood Athletic Supply
1033
1168 Bigmart
1034
1837 Cool Threads
1035
1841 Neighborhood Athletic Supply
1036
1814 ValueChoice
1037
1167 Goodway
1038
1861 Family Fit
1039
1837 Cool Threads
1040
1842 Northern Lites
1041
1843 Southeast Regional
1042
1168 Bigmart
1043
1814 ValueChoice
1044
1837 Cool Threads
1045
1168 Bigmart
1046
1862 Corner Runner
1047
1863 Fit N Fun
1048
1842 Northern Lites
1049
1843 Southeast Regional
1050
1861 Family Fit
1051
1839 Southern Runners
1052
1840 Super Runners Mark
1053
1841 Neighborhood Athletic Supply
1054
1861 Family Fit
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
1055
1056
1057
1058
1059
1060
1061
1062
1063
1064
1065
1066
1067
1068
1069
1070
1071
1072
1073
1074
1075
1076
1077
1078
1079
1080
1081
1082
1083
1084
1085
1086
1087
1088
1089
1090
1091
1092
1093
1094
1095
1096
1097
1098
1099
1100
1101
1102
1103
1104
1105
1106
1107
1108
1109
1843
1840
1842
1839
1841
1840
1838
1842
1167
1843
1842
1861
1861
1862
1863
1864
1168
1861
1842
1863
1862
1837
1840
1842
1843
1861
1843
1836
1862
1167
1836
1814
1840
1841
1843
1842
1864
1863
1168
1862
1837
1840
1863
1864
1842
1843
1168
1842
1839
1842
1814
1862
1863
1864
1843
Southeast Regional
Super Runners Mark
Northern Lites
Southern Runners
Neighborhood Athletic Supply
Super Runners Mark
Urban Runner
Northern Lites
Goodway
Southeast Regional
Northern Lites
Family Fit
Family Fit
Corner Runner
Fit N Fun
Cross Country Mart
Bigmart
Family Fit
Northern Lites
Fit N Fun
Corner Runner
Cool Threads
Super Runners Mark
Northern Lites
Southeast Regional
Family Fit
Southeast Regional
Runner’s Market
Corner Runner
Goodway
Runner’s Market
ValueChoice
Super Runners Mark
Neighborhood Athletic Supply
Southeast Regional
Northern Lites
Cross Country Mart
Fit N Fun
Bigmart
Corner Runner
Cool Threads
Super Runners Mark
Fit N Fun
Cross Country Mart
Northern Lites
Southeast Regional
Bigmart
Northern Lites
Southern Runners
Northern Lites
ValueChoice
Corner Runner
Fit N Fun
Cross Country Mart
Southeast Regional
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
1110
1111
1112
1113
1114
1115
1116
1117
1118
1119
1120
1121
1122
1123
1124
1125
1126
1127
1128
1129
1130
1131
1132
1133
1134
1135
1136
1137
1138
1139
1140
1141
1142
1143
1144
1145
1146
1147
1148
1149
1150
1151
1152
1153
1154
1155
1156
1157
1158
1159
1160
1161
1162
1163
1164
1814
1842
1167
1843
1841
1861
1843
1836
1841
1842
1843
1168
1838
1843
1836
1839
1864
1862
1814
1837
1861
1843
1842
1840
1843
1168
1841
1862
1838
1168
1839
1836
1167
1168
1837
1861
1814
1168
1840
1168
1837
1814
1863
1837
1167
1168
1863
1862
1842
1843
1837
1862
1863
1836
1843
ValueChoice
Northern Lites
Goodway
Southeast Regional
Neighborhood Athletic Supply
Family Fit
Southeast Regional
Runner’s Market
Neighborhood Athletic Supply
Northern Lites
Southeast Regional
Bigmart
Urban Runner
Southeast Regional
Runner’s Market
Southern Runners
Cross Country Mart
Corner Runner
ValueChoice
Cool Threads
Family Fit
Southeast Regional
Northern Lites
Super Runners Mark
Southeast Regional
Bigmart
Neighborhood Athletic Supply
Corner Runner
Urban Runner
Bigmart
Southern Runners
Runner’s Market
Goodway
Bigmart
Cool Threads
Family Fit
ValueChoice
Bigmart
Super Runners Mark
Bigmart
Cool Threads
ValueChoice
Fit N Fun
Cool Threads
Goodway
Bigmart
Fit N Fun
Corner Runner
Northern Lites
Southeast Regional
Cool Threads
Corner Runner
Fit N Fun
Runner’s Market
Southeast Regional
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
1165
1166
1167
1168
1169
1170
1171
1172
1173
1174
1175
1176
1177
1178
1179
1180
1181
1182
1183
1184
1185
1186
1187
1188
1189
1190
1191
1192
1193
1194
1195
1196
1197
1198
1199
1200
1201
1202
1203
1204
1205
1206
1207
1208
1209
1210
1211
1212
1213
1214
1215
1216
1217
1218
1219
1861
1863
1864
1838
1836
1842
1864
1839
1837
1168
1838
1840
1842
1861
1814
1837
1839
1863
1168
1838
1167
1839
1840
1838
1842
1836
1840
1837
1167
1839
1168
1842
1840
1839
1167
1842
1841
1838
1842
1168
1839
1836
1840
1838
1837
1814
1841
1861
1863
1842
1838
1843
1838
1836
1843
Family Fit
Fit N Fun
Cross Country Mart
Urban Runner
Runner’s Market
Northern Lites
Cross Country Mart
Southern Runners
Cool Threads
Bigmart
Urban Runner
Super Runners Mark
Northern Lites
Family Fit
ValueChoice
Cool Threads
Southern Runners
Fit N Fun
Bigmart
Urban Runner
Goodway
Southern Runners
Super Runners Mark
Urban Runner
Northern Lites
Runner’s Market
Super Runners Mark
Cool Threads
Goodway
Southern Runners
Bigmart
Northern Lites
Super Runners Mark
Southern Runners
Goodway
Northern Lites
Neighborhood Athletic Supply
Urban Runner
Northern Lites
Bigmart
Southern Runners
Runner’s Market
Super Runners Mark
Urban Runner
Cool Threads
ValueChoice
Neighborhood Athletic Supply
Family Fit
Fit N Fun
Northern Lites
Urban Runner
Southeast Regional
Urban Runner
Runner’s Market
Southeast Regional
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
Sales
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
1220
1221
1222
1223
1224
1225
1226
1227
1228
1229
1230
11001
11002
11003
11004
11005
11006
11007
11008
11009
11010
11011
11012
11013
11014
11015
11016
11017
11018
11019
11020
11021
11022
11023
11024
11025
11026
11027
11028
11029
11030
11031
11032
11033
11034
11035
11036
11037
11038
11039
11040
11041
11042
11043
11044
1001
1002
1003
1004
1005
1006
1007
1008
1009
1010
1011
1012
1013
1014
1015
1016
1017
1018
1019
1020
1021
1022
1023
1024
1025
1026
1027
1028
1029
1030
1031
1032
1033
1034
1035
1036
1037
1038
1039
1040
1041
1042
1043
1044
1842
1843
1837
1842
1814
1843
1842
1168
1839
1842
1837
1836
1168
1167
1841
1842
1168
1167
1814
1841
1842
1843
1861
1863
1864
1840
1841
1842
1167
1814
1838
1863
1864
1861
1862
1840
1841
1842
1861
1842
1843
1836
1841
1168
1837
1841
1814
1167
1861
1837
1842
1843
1168
1814
1837
Northern Lites
Southeast Regional
Cool Threads
Northern Lites
ValueChoice
Southeast Regional
Northern Lites
Bigmart
Southern Runners
Northern Lites
Cool Threads
Runner’s Market
Bigmart
Goodway
Neighborhood Athletic Supply
Northern Lites
Bigmart
Goodway
ValueChoice
Neighborhood Athletic Supply
Northern Lites
Southeast Regional
Family Fit
Fit N Fun
Cross Country Mart
Super Runners Mark
Neighborhood Athletic Supply
Northern Lites
Goodway
ValueChoice
Urban Runner
Fit N Fun
Cross Country Mart
Family Fit
Corner Runner
Super Runners Mark
Neighborhood Athletic Supply
Northern Lites
Family Fit
Northern Lites
Southeast Regional
Runner’s Market
Neighborhood Athletic Supply
Bigmart
Cool Threads
Neighborhood Athletic Supply
ValueChoice
Goodway
Family Fit
Cool Threads
Northern Lites
Southeast Regional
Bigmart
ValueChoice
Cool Threads
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
11045
11046
11047
11048
11049
11050
11051
11052
11053
11054
11055
11056
11057
11058
11059
11060
11061
11062
11063
11064
11065
11066
11067
11068
11069
11070
11071
11072
11073
11074
11075
11076
11077
11078
11079
11080
11081
11082
11083
11084
11085
11086
11087
11088
11089
11090
11091
11092
11093
11094
11095
11096
11097
11098
11099
1045
1046
1047
1048
1049
1050
1051
1052
1053
1054
1055
1056
1057
1058
1059
1060
1061
1062
1063
1064
1065
1066
1067
1068
1069
1070
1071
1072
1073
1074
1075
1076
1077
1078
1079
1080
1081
1082
1083
1084
1085
1086
1087
1088
1089
1090
1091
1092
1093
1094
1095
1096
1097
1098
1099
1168
1862
1863
1842
1843
1861
1839
1840
1841
1861
1843
1840
1842
1839
1841
1840
1838
1842
1167
1843
1842
1861
1861
1862
1863
1864
1168
1861
1842
1863
1862
1837
1840
1842
1843
1861
1843
1836
1862
1167
1836
1814
1840
1841
1843
1842
1864
1863
1168
1862
1837
1840
1863
1864
1842
Bigmart
Corner Runner
Fit N Fun
Northern Lites
Southeast Regional
Family Fit
Southern Runners
Super Runners Mark
Neighborhood Athletic Supply
Family Fit
Southeast Regional
Super Runners Mark
Northern Lites
Southern Runners
Neighborhood Athletic Supply
Super Runners Mark
Urban Runner
Northern Lites
Goodway
Southeast Regional
Northern Lites
Family Fit
Family Fit
Corner Runner
Fit N Fun
Cross Country Mart
Bigmart
Family Fit
Northern Lites
Fit N Fun
Corner Runner
Cool Threads
Super Runners Mark
Northern Lites
Southeast Regional
Family Fit
Southeast Regional
Runner’s Market
Corner Runner
Goodway
Runner’s Market
ValueChoice
Super Runners Mark
Neighborhood Athletic Supply
Southeast Regional
Northern Lites
Cross Country Mart
Fit N Fun
Bigmart
Corner Runner
Cool Threads
Super Runners Mark
Fit N Fun
Cross Country Mart
Northern Lites
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
11100
11101
11102
11103
11104
11105
11106
11107
11108
11109
11110
11111
11112
11113
11114
11115
11116
11117
11118
11119
11120
11121
11122
11123
11124
11125
11126
11127
11128
11129
11130
11131
11133
11134
11135
11136
11137
11138
11139
11140
11141
11142
11143
11144
11145
11146
11147
11148
11149
11150
11151
11152
11153
11154
11155
1100
1101
1102
1103
1104
1105
1106
1107
1108
1109
1110
1111
1112
1113
1114
1115
1116
1117
1118
1119
1120
1121
1122
1123
1124
1125
1126
1127
1128
1129
1130
1131
1133
1134
1135
1136
1137
1138
1139
1140
1141
1142
1143
1144
1145
1146
1147
1148
1149
1150
1151
1152
1153
1154
1155
1843
1168
1842
1839
1842
1814
1862
1863
1864
1843
1814
1842
1167
1843
1841
1861
1843
1836
1841
1842
1843
1168
1838
1843
1836
1839
1864
1862
1814
1837
1861
1843
1840
1843
1168
1841
1862
1838
1168
1839
1836
1167
1168
1837
1861
1814
1168
1840
1168
1837
1814
1863
1837
1167
1168
Southeast Regional
Bigmart
Northern Lites
Southern Runners
Northern Lites
ValueChoice
Corner Runner
Fit N Fun
Cross Country Mart
Southeast Regional
ValueChoice
Northern Lites
Goodway
Southeast Regional
Neighborhood Athletic Supply
Family Fit
Southeast Regional
Runner’s Market
Neighborhood Athletic Supply
Northern Lites
Southeast Regional
Bigmart
Urban Runner
Southeast Regional
Runner’s Market
Southern Runners
Cross Country Mart
Corner Runner
ValueChoice
Cool Threads
Family Fit
Southeast Regional
Super Runners Mark
Southeast Regional
Bigmart
Neighborhood Athletic Supply
Corner Runner
Urban Runner
Bigmart
Southern Runners
Runner’s Market
Goodway
Bigmart
Cool Threads
Family Fit
ValueChoice
Bigmart
Super Runners Mark
Bigmart
Cool Threads
ValueChoice
Fit N Fun
Cool Threads
Goodway
Bigmart
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
CashReceipt
11156
11157
11160
11161
11162
11163
11164
11165
11166
11167
11170
11173
11174
11175
11180
11181
11182
11184
11187
11190
11192
11196
11200
11214
1156
1157
1160
1161
1162
1163
1164
1165
1166
1167
1170
1173
1174
1175
1180
1181
1182
1184
1187
1190
1192
1196
1200
1214
1863
1862
1837
1862
1863
1836
1843
1861
1863
1864
1842
1837
1168
1838
1837
1839
1863
1838
1840
1836
1837
1842
1842
1842
Fit N Fun
Corner Runner
Cool Threads
Corner Runner
Fit N Fun
Runner’s Market
Southeast Regional
Family Fit
Fit N Fun
Cross Country Mart
Northern Lites
Cool Threads
Bigmart
Urban Runner
Cool Threads
Southern Runners
Fit N Fun
Urban Runner
Super Runners Mark
Runner’s Market
Cool Threads
Northern Lites
Northern Lites
Northern Lites
Amount
TransactionDate InvoiceDate ShipDate Cash Received December 31 2015
$ 16,157.44
5-Mar-15
5-Mar-15 5-Mar-15
-16157.44 $
$ 9,144.00
5-Mar-15
5-Mar-15 5-Mar-15
-9144 $
$ 15,737.60
5-Mar-15
5-Mar-15 5-Mar-15
-15737.6 $
$ 6,008.00
8-Mar-15
8-Mar-15 8-Mar-15
-6008 $
$ 7,241.60
8-Mar-15
8-Mar-15 8-Mar-15
-7241.6 $
$ 8,476.00
13-Mar-15 13-Mar-15 13-Mar-15
-8476 $
$ 15,737.60
13-Mar-15 13-Mar-15 13-Mar-15
-15737.6 $
$ 9,084.40
13-Mar-15 13-Mar-15 13-Mar-15
-9084.4 $
$ 4,240.00
16-Mar-15 16-Mar-15 16-Mar-15
-4240 $
$ 5,993.60
16-Mar-15 16-Mar-15 16-Mar-15
-5993.6 $
$ 9,019.12
16-Mar-15 16-Mar-15 16-Mar-15
-9019.12 $
$ 6,552.40
23-Mar-15 23-Mar-15 23-Mar-15
-6552.4 $
$ 5,008.64
23-Mar-15 23-Mar-15 23-Mar-15
-5008.64 $
$ 11,113.60
23-Mar-15 23-Mar-15 23-Mar-15
-11113.6 $
$ 17,677.04
27-Mar-15 27-Mar-15 27-Mar-15
-17677.04 $
$ 4,240.00
27-Mar-15 27-Mar-15 27-Mar-15
-4240 $
$ 7,241.60
30-Mar-15 30-Mar-15 30-Mar-15
-7241.6 $
$ 19,672.00
2-Apr-15
2-Apr-15 2-Apr-15
-19672 $
$ 6,975.00
3-Apr-15
3-Apr-15 3-Apr-15
-6975 $
$ 16,230.00
3-Apr-15
3-Apr-15 3-Apr-15
-16230 $
$ 7,330.80
6-Apr-15
6-Apr-15 6-Apr-15
-7330.8 $
$ 13,892.00
6-Apr-15
6-Apr-15 6-Apr-15
-13892 $
$ 8,074.40
6-Apr-15
6-Apr-15 6-Apr-15
-8074.4 $
$ 9,642.00
6-Apr-15
6-Apr-15 6-Apr-15
-9642 $
$ 22,096.30
10-Apr-15 10-Apr-15 10-Apr-15
-22096.3 $
$ 7,510.00
10-Apr-15 10-Apr-15 10-Apr-15
-7510 $
$ 9,052.00
12-Apr-15 12-Apr-15 12-Apr-15
-9052 $
$ 8,190.50
17-Apr-15 17-Apr-15 17-Apr-15
-8190.5 $
$ 9,052.00
17-Apr-15 17-Apr-15 17-Apr-15
-9052 $
$ 11,273.90
17-Apr-15 17-Apr-15 17-Apr-15
-11273.9 $
$ 19,571.80
23-Apr-15 23-Apr-15 23-Apr-15
-19571.8 $
$ 1,300.00
23-Apr-15 23-Apr-15 23-Apr-15
-1300 $
$
835.00
23-Apr-15 23-Apr-15 23-Apr-15
-835 $
$ 7,600.00
23-Apr-15 23-Apr-15 23-Apr-15
-7600 $
$
702.00
23-Apr-15 23-Apr-15 23-Apr-15
-702 $
$ 4,380.50
23-Apr-15 23-Apr-15 23-Apr-15
-4380.5 $
$ 19,312.00
23-Apr-15 23-Apr-15 23-Apr-15
-19312 $
$ 8,074.40
24-Apr-15 24-Apr-15 24-Apr-15
-8074.4 $
$ 14,092.60
24-Apr-15 24-Apr-15 24-Apr-15
-14092.6 $
$ 9,052.00
27-Apr-15 27-Apr-15 27-Apr-15
-9052 $
$ 11,119.10
27-Apr-15 27-Apr-15 27-Apr-15
-11119.1 $
$
663.60
1-May-15
1-May-15 1-May-15
-663.6 $
$ 8,641.08
1-May-15
1-May-15 1-May-15
-8641.08 $
$ 11,424.67
1-May-15
1-May-15 1-May-15
-11424.67 $
$
520.80
4-May-15
4-May-15 4-May-15
-520.8 $
$ 7,851.48
4-May-15
4-May-15 4-May-15
-7851.48 $
$ 6,159.72
4-May-15
4-May-15 4-May-15
-6159.72 $
$ 7,603.68
11-May-15 11-May-15 11-May-15
-7603.68 $
$ 9,340.04
11-May-15 11-May-15 11-May-15
-9340.04 $
$ 6,880.02
11-May-15 11-May-15 11-May-15
-6880.02 $
$ 20,832.00
15-May-15 15-May-15 15-May-15
-20832 $
$ 18,528.38
15-May-15 15-May-15 15-May-15
-18528.38 $
$ 3,015.60
15-May-15 15-May-15 15-May-15
-3015.6 $
$ 6,555.70
18-May-15 18-May-15 18-May-15
-6555.7 $
–
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
9,537.44
18,713.67
7,125.23
21,258.94
3,071.88
18,899.93
18,766.27
3,408.72
5,066.88
10,341.24
8,391.94
7,813.39
7,896.37
9,441.82
7,441.67
13,940.70
11,738.30
7,979.70
8,551.80
7,527.80
9,537.44
13,744.34
22,709.74
8,632.26
11,688.63
8,147.34
11,805.61
19,709.89
9,731.16
22,114.82
23,674.76
12,327.94
26,463.75
4,283.44
13,625.81
10,051.11
16,594.74
8,902.72
7,527.80
9,537.44
13,744.34
22,709.74
9,105.39
16,932.51
8,632.26
11,688.63
25,976.16
8,212.96
49,452.37
23,758.22
12,687.02
12,421.74
9,895.25
18,357.25
13,328.83
18-May-15
22-May-15
25-May-15
27-May-15
27-May-15
27-May-15
27-May-15
29-May-15
29-May-15
29-May-15
2-Jun-15
2-Jun-15
5-Jun-15
8-Jun-15
8-Jun-15
8-Jun-15
11-Jun-15
12-Jun-15
12-Jun-15
15-Jun-15
15-Jun-
