Central Meat Inc. buys and processes livestock for sales to supermarkets. In connection with your examination of the company's financial statements, you accumulate the following information about purchases and cash disbursements transactions in the expenditure cycle.
1.Each livestock buyer submits a daily report of purchases to the plant superintendent. This report shows the dates of purchase and expected delivery, the vendor and the number, weights, and type of livestock purchased. As shipments are received, any available plant employee counts the number of each type received and places a check mark beside this quantity on the buyer's report. When all shipments listed on the report have been received, the report is returned to the buyer.
2.Vendor's invoices, after a clerical check, are sent to the buyer for approval and returned to the accounting department. A disbursement voucher and a check for the approved amount are prepared in the accounting department. Checks are forwarded to the treasurer for signing. The treasurer's office sends signed checks directly to the buyer for delivery to the vendor.
REQUIRED: For each of the numbered notes identify three specific weaknesses. Give your recommended improvement for each weakness. Use a tabular format for your answer with columns for weaknesses and recommended improvements.

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The Answer of Central Meat Inc. buys and processes livestock for sales to supermarkets. In connection with your examination of the company's financial statements, you accumulate the following information about purchases and cash disbursements transactions in the expenditure cycle.
1.Each livestock buyer submits a daily report of purchases to the plant superintendent. This report shows the dates of purchase and expected delivery, the vendor and the number, weights, and type of livestock purchased. As shipments are received, any available plant employee counts the number of each type received and places a check mark beside this quantity on the buyer's report. When all shipments listed on the report have been received, the report is returned to the buyer.
2.Vendor's invoices, after a clerical check, are sent to the buyer for approval and returned to the accounting department. A disbursement voucher and a check for the approved amount are prepared in the accounting department. Checks are forwarded to the treasurer for signing. The treasurer's office sends signed checks directly to the buyer for delivery to the vendor.
REQUIRED: For each of the numbered notes identify three specific weaknesses. Give your recommended improvement for each weakness. Use a tabular format for your answer with columns for weaknesses and recommended improvements.