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  • Syllabus
  • Schedule
    • First Half of the Semester
      • Week 1: Introduction
      • Week 2: Business Process; Assertions
      • Week 3: Fraud, P2P Controls
      • Week 4: OTC Process, Types of Controls
      • Week 5: Inventory & Shipping Controls
      • Week 6: Invoicing & Collection Controls
      • Week 7: IT vs. SAP Controls, Security 1
    • Second Half of the Semester
      • Week 8: Security: Roles, Finance Process & Controls
      • Week 9: Security: User Management, Segregation of Duties
      • Week 10: Data, SOD/SAT Review
      • Week 11: Change Management, Development
      • Week 12: Auditing, Table Security, Risk / Control Framework
      • Week 13: SAP Futures, Special System Access
      • Week 14: Character vs. Controls
  • Assignments
    • SAP GUI Installation
    • Exercise 1: Procure to Pay
    • Exercise 2: Order to Cash
    • Exercise 3: Journal Entries
    • Exercise 4: Segregation of Duties (SOD)
    • Final Exercise: Risk-Controls Framework
    • Extra Credit Assignment
  • Roster / Schedule / Teams
  • Gradebook

Auditing Controls in ERP Systems - 2018

Auditing Controls in ERP Systems - 2018

Exercise 3: Journal Entries

Exercise 3 Objectives:

  • Experience concepts of beginning financial accounting
  • Work with a manual accounting information system
  • Experience how an ERP system handles steps of the account cycle
  • Investigate related application controls in an ERP system

Detailed background, instructions, etc. included in the Guide.
(updated with 2 clarifications on October 19).

Provide your answers to the Exercise questions in this Excel submission Sheet.

 

When performing Task 4 (Enter Journal Entry Transactions into the General Ledger) and the use of transaction FB50 you many find that one or more General Ledger accounts require the entry of a Cost Center (CO) value. You get and error such as ‘Account xxxxxxx requires the assignment of a CO object’.

This is an additional financial control.

This short guide shows how to address this issue.

Week 8 Preparation [Wednesday, 10/17]:

  • Transaction: Line Item Journal S_ALR_87012291
    • Click on rubics cube icon change layout/sequence
    • Click to the right of rubics cube saved format = MIS-5121
  • Exercise 3 Teams: 1, 2, 3
    • Review and record transactions on answer sheet [spreadsheet]
    • Review study guide expectations
    • Break into teams
    • Collaborate for 1 hour
  • Understand What/How to enter information into SAP
    • Enter account balances
      • Enter journal entries [must be + & -]
      • Create shortcut FB50
        • ENTER G/L ACCOUNT DOCUMENT COMPANY USXX
        • Note: DOCUMENT DATE & POSTING DATE ARE THE SAME
        • Enter G/L Beginning balances from page 8
        • 100000 Bank Account Enter $252,518 DR
        • 220310 Accumulated Depreciation xxx Enter $252,518 CR
        • Click Simulate means run it through but do not post it
          • Must have debits = credits
        • Click Save
        • Click Post/Never Park
        • Enter all transactions / events
        • DO NOT WANT TO PARK IT EVER
        • Instead, if you park it Back the transaction out [See page 16 of study guide [procedure to release the document]
        • List Parked Transactions
      • See page 9 of G/L study guide
        • Read / understand policies and their impact
        • Outline rules / steps to complete the transaction
      • Ensure to be consistent with SAP dates, always: 1/1/18 1/31/18
        • All transactions occur in January
      • Be aware of SAP control authorization limits
        • Whats the $ limit?
        • How do you get around the control?
      • Final deliverable [Per Team] is just 1 SAP UID, i.e. AIS-005
        • All team members can use their respective UIDs
      • 4 Complex Transactions [Adjusting Entries] Based on my beginning balance consider the entire time period [See month-end adjustment checklist]
        • Understand why you do what you do!
  • Transaction: Compact Document Journal S_ALR_87012289
    • Provides validation of journal entries posted
  • Transaction: Drill down to the source document FBL3N
    • G/L Account Line Item Display
    • Click all items
    • 1/1/18 1/31/18
    • Enter

 

 

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Weekly Discussions

  • Assignments (11)
  • Exams (7)
  • General (5)
  • Real World Control Failure Presentations (3)
  • Week 01: Introduction (2)
  • Week 02: Business Process; Assertions (4)
  • Week 03: Fraud, P2P Controls (2)
  • Week 04: OTC Process, Types of Controls (3)
  • Week 05: Inventory & Shipping Controls (3)
  • Week 06: Invoicing & Collection Controls (1)
  • Week 07: General IT vs. SAP Controls, Security 1 (2)
  • Week 08: Security 2, Finance 2 (3)
  • Week 09: Security: User Mgmt, Segregation of Duties (2)
  • Week 10: Data; SOD/SAT Review (2)
  • Week 11: Change Management, Development (3)
  • Week 12: Table Security, Control Framework (2)
  • Week 13: SAP Futures, Special System Access (2)
  • Week 14: Character vs. Controls (4)

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