September 1, 2014 Principles of Accounting 11: Ask questions, never assume

If unsure on any aspect of a process, no matter how minor, refer to the documentation. If there is not complete and comprehensive information there, ask your supervisor. Never make assumptions on the correct course of action.

Workbook: Download this 6 page (853Kb) PDF. Print in black-and-white, and add notes in the indicated places.

Video

Size:  11.6 Mb, 6’38”

Assignment

A supplier realises they undercharged us for services supplied two years ago, and send us an invoice for €80.000! We do not want to pay this too quickly, in case it’s not correct.

– What steps would you take before paying this invoice?
– What questions would you ask the supplier?
– What questions would to ask responsible staff in the company?

Be detailed and specific in your questions. Leave no room for ambiguity.

Submit your analysis to your Trainer.

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