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WORD AUTHOR

We are going to give thanks to our God for all blessing has given. Because without it we can doing nothing and cant be able to finished this modul assignment on time. And then, we say a big thanks to our lectures Mrs. Idrianita who helped us in so many times to finished this assignment and give so many advice to make this paper looking better. Were not forget to give thanks to all people who help us in thousand ways because they give us another knowledge we need and build a motivation between us. In this paper we know that we have a great teamwork in it because we work and solve the problems happened together. So its realize how important this modul assignment for us to implementation our learning activities during this time. Because of were on our way to learn, we know that in this paper there are so many weakness, therefore we need critic and suggestion for the next to be better. Thank you for your attention.

Jakarta, 07 January 2010

AUTHOR

CHAPTER 1 PT Unilever | Accounting Information System 1

I.1

BACKGROUND Accounting Information System is from Accounting, Information, and

System word. Accounting is recording economic data. Information is intelligence that is meaningful and useful to person for whom it is intended. System is unified group of interacting parts that function together to achieve its purposes. So we can conclude Accounting Information System is a unfied structure within an entity, such as a business firm, that employs physical resources and other components to transform economic data into accounting information, with the purpose of satisfying the information needs of a variety of users. Accounting Information System was so important because it can support the day-to-day operation, and to support decision making by internal decision. In Accounting Information System we can learn the type of the company transaction, flowchart, the document that we needed, etc which help us to understand the company activities and to know the weakness and can evaluate the transaction cycle of the company. In this paper our group will be explain about the one of transaction cycle in PT Unilever Indonesia, we decide to analyze PT Unilever Indonesias revenue cycle as our topic because as we know PT Unilever Indonesia is a big company in consumer goods, and off course have own revenue cycle. From this paper we want to learn more about revenue cycle, and how to analyze it

I.2

METHODOLOGY

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The process of making this module assignment is adopted by looking for all of the information about PT .Unilever.Tbk through internet in several websites. And made an interview with the people who work at PT Unilever Indonesia who related with revenue cycle
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Besides that, the method that we use was completed by adopting the theories in the text book that we usually use for discussing about the objects, that is Accounting Information System by Wilkinson Cerullo Raval Wong-On-Wing 4th Edition. Additionally, we also ask to the lecturers who always willingly give the information to us and help us along the way

CHAPTER II

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II.1

THEORIES The revenue cycle encompasses three key business events or transactions :

solicitation of projects, project execution and delivery (sales), and cash receipts. Revenue cycles tend to be similar for all type of firms, from merchandising firms to manufacturing firms to service firms. Howeverr, detils differ with respect to the ways the products or services are delivered and the timing of the payments by the customers. Therere two subsystems perform the processing steps within the revenue cycle : (1) the sales processing system, and (2) the cash receipts processing system The objectives within this broad purpose are: 1. To record sales orders promptly and accurately 2. To verify that the customers are worthy of credit 3. To ship the products or to perform the services by agreed dates 4. To bill for products or services in a timely and accurate manner 5. To record and classify cash receipts promptly and accurately 6. To post sales and cash receipts to proper customers account in the accounts receivable ledger 7. To safeguard products until shipped 8. To safeguard cash until deposited But, for the essential purpose of revenue cycle is to facilitate the exchange of products or services with customers for cash. This is a process of revenue cycle

1.

DATA INPUT

2.

DATA PROCESSING Therere two kind of systems described in this process : Credit Sales Processing and Cash Receipts Processing System. PT Unilever | Accounting Information System 4

THISS PROCESS FOR CREDIT SALES

ORDER ENTRY

SHIPPING

BILLING

PROCESSING BACK ORDERS HANDLING SALES RETURN & PREPARE ANLYZE AND REPORT ALLOWANCE
THISS PROCESS FOR CASH RECEIPTS

REMITTENCE ENTRY DEPOSITING RECEIPTS POSTING RECEIPTS

COLLECTING DELIQUENT ACCOUNTS ANALYZE AND REPORT PREPARING

3.

INFORMATION OUTPUT Reports generated as an integral part or byproduct of revenue cycle processing are needed to conduct a firms operations and to aid in planning and control decisions. In revenue cycle these output focuses on operational listings and reports, inquiry display screens, scheduled managerial reports and demand managerial reports. Then, were going to show several symbol using in revenue cycle

HARD-COPY DOCUMENTS MANUAL PROCESS

DATA FILE
DOC.FOLDER

SOFTWARE

MANUAL INPUT

DATA STORED ONLINE ONLINE DISPLAY

DATA ON PUNCHED PAPER TAPE connector

DECISION POINT

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Then, another key which is important is data management. Data management is the data base which supporting the revenue cycle contains data pertaining to revenue-related resources, key events and principal agents. It also reflects the relationship among these basic entities. And to manage the data, a company may employ a file-oriented approach or data-base approach. And after that, the risk and exposures happen in the company is related with how can the company managing all the activities in especially in activities related with revenue-cycle.

II.2 COMPANY PROFILE

Unilever Indonesia has grown to be a leading company of Home and Personal Care as well as Foods and Ice Cream products in Indonesia. Total of PT Unilever Indonesia are about 3000 employees and 25000 labor. PT Unilever Indonesia Tbk engages in the manufacture, marketing, and distribution of consumer goods in Indonesia. The companys products include soaps, detergents, margarine, dairy based foods, ice creams, cosmetic products, tea based beverages, and fruit juices, as well as edible oil and snacks. It offers food products under the Bango, Blue Band, Royco, Sariwangi, Taro, and PT Unilever | Accounting Information System 6

Wall's brand names; home care products under the Rinso and Sunlight; and personal care products under the Axe, Citra, Clear, Lifebuoy, Lux, Pepsodent, Pond's, Rexona, and Sunsilk brand names. The Company owns six factories in Jababeka Industrial Estate, Cikarang, Bekasi and two factories in Rungkut Industrial Estate, Surabaya, East Java, with its head office in Jakarta. Its products consist of about 32 key brands and 700 SKUs which are sold through a network of about 370 independent distributors covering hundreds of thousands of outlets throughout Indonesia. Products are distributed through its own central distribution centres, satellite warehouses, depots and other facilities.

Purposes and principles of PT Unilever Indonesia are:

Always working with integrity Positive impact Continuous commitment Setting out our aspirations Working with others

The four pillars of our vision set out the long term direction for the company where we want to go and how we are going to get there: We work to create a better future every day We help people feel good, look good and get more out of life with brands and services that are good for them and good for others. We will inspire people to take small everyday actions that can add up to a big difference for the world. We will develop new ways of doing business with the aim of doubling the size of our company while reducing our environmental impact.

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CHAPTER III ANALYZE III.1 OPERATIONAL ACTIVITY


PT Unilever Indonesia operational activity dayly: Manufacturing : its means that PT Unilever Indonesia everday produce the consumer goods product, such as foods, toiletries, etc. They have six factories in Indonesia to produce all of their product Marketing : after produce the product PT Unilever Indonesia will think how to market the product in all of Indonesia, they have a motto that how to make Unilevers product became closer to the customer so they think how to market their product not just for the people who have high income or middle-up people but Unilever must thinking about how to market the product to the people in middle-low too, and one of the strategies is they make a small package or sachet with lower price. Distribution of consumer goods in Indonesia: as we know there are so many unreachable area at Indonesia, such as kampung, village, etc. PT Unilever Indonesia has a motto that they want to make our product closer to the customer so they make a coorporation with distributor, and distributor will distribute the product to every place in Indonesia.

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III.2.2 THE REVENUE CYCLE As we know there are 6 type of transaction cycle, but in this paper we will explain about revenue cycle of PT Unilever Indonesia. The conduct of the transaction is first, logistic will obtain the plan order and will make and enter despact note based on the plan order to the warehouse, after warehouse take the goods based on the despact note, warehouse will give the goods to the shipping, the shipper will assemble the goods for shipment, but before shipping the goods, the shipper will make a delivery plan together with budgeting and cash planning department (delivery plan happen when first shipping to the new distributor or there are change of planning because of constraint). After make delivery plan, the shipper will shipping the goods to the distributor and the inventory control will maintaining the records pertaining to inventory balances. After the goods has been received by the distributor the shipper will take back with the POD despact note and give it to logistic, and logistic will make a casefill and will transfer it to the billing to make an invoice. After invoice has been sent, account receivable department (accounting) will maintain the account receivable and send the result to the debt collection, when debt collection receive bank statement, debt collection will maintain A/R and make a report. III.3 DOCUMENTATION NEEDED TO SUPPORT THE REVENUE CYCLE Plan order : Almost same like sales order, but this document is in computer database and the content is amount the stock that distributor needed Despacth note : Same with delivery order that the contain is name of the goods and amount of the goods that order POD despacth note : the despact note that has been signatured by head shed Sales Invoice : The document that is sent to the customer to reflect the amount the sales PT Unilever | Accounting Information System 9

Billing statement: The document that content is the amount of distributor bank guarantee vs the amount of distributor bill Distributor debt position : the position of distributors debt Cash receipts transaction file (bank statement): contains data relating to the payment from credit customer

III.4 DATA MANAGEMENT File-oriented approach The name of document that fileioriented approach is despacth note, POD despacth note, sales invoice. Date-base approach Plan order, billing statement, distributor debt position

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III.5.2 EXPLANATION Unilever has a different revenue cycle from the other company, especially in their system like plan order system which is plan order system is the system that the PT Unilever has a plan for distribution order, PT Unilever can know the amount of the stock that distributor needed because PT Unilever has a system that can see the distributors warehouse. After logistic department receive the distributors plan order, they will sent the plan orders copy to distributor by EDI (Electronic Data Interchange) which is useful for the distributor to compared the despact note that they will be receive. And then they make 3 copies of despacth note based on plan order. Based on despacth note the warehouses employee take the goods from the warehouse. Two copies of despacth note will be sent to shipping department to accompany the goods that they will ship to distributor, and the remains of despacth note (first copy) will be filed. After the shipper arrive at distributor, the shipper will ask the head sheds signature, its means that the goods has approved, or in PT Unilever its called POD (Approved Delivery). And the one of the despacth note that shipper bring will be given to the distibutor for their file. After the shipper receive the POD despact note and done to ship the goods, they will take back the remains of the POD despact note and will be given to the warehouse again. In this case is POD employee, the POD employee will compare the POD despact note with plan order based on the plan order number (to the clearly you can see the attachment despacth note), in PT Unilever its called casefill. After make the casefill the POD employees will be transfer the casefill result to the billing departement for their activity to make the invoice. Billing department will make 3-copies of invoice, the first one will be sent to the distributor, the second one will be filed by the billing departement, and the last will be sent to the accounting department for journal transaction and make the billing statement. After accounting employee make the billing statement they will transfer the data to debt collection department. For the payment the distributor will transfer the money to PT Unilevers account. The debt collector employee will be see the payment PT Unilever | Accounting Information System 11

with use online way, so PT Unilever can open banks website use the password and see the distributor payment activities. After that debt collection will compare the billing statement with the bank statement and make the distributor debt position. III.6 INTERNALCONTROL Control environment The Code of Business Principle, which sets standards of professionalism and integrity for its operations worlwide, is Unilevers statement of values and represent the standard of conduct they require from all of their employee. So PT Unilever will not carelessly when they want to recruit the employee, and theres no nepotism in PT Unilever, just the employee who has an integrity, creativity, profesionalm, and has good attitude and behavior who can work in this company. PT Unilever strive to create an environment or culture that minimize the occurence of fraudulent financial reporting and other wrongdoing like setting of ethical behavior by following a personal code of ethics. In PT Unilver Indonesia their Code of Ethics applies to the senior executive, financial and accounting officers. And for the organisational structure, the Board have established a clear organisational structure which includes a delegation of authorities. Business Risk assessment The Audit committe reviews the key risks affecting the bussiness four times a year and the Board review the risks as a part of the forecast and annual financial plan. The regions, category and functions provide inputs to this process and actions are put into place to mitigate the identified risks. Risk reporting covers the perceived risk, assessed impact and the effectiveness of controls to mitigate these risks. Control activities The implementation of and compliance with their governance structure is facilitated through a business-orianted policy framework. Unilever policies are universally applicable within Unilever group. They are mandatory and have been developed to ensure consistency in all material respects amongst worldwide PT Unilever | Accounting Information System 12

operations in key areas. They cover operational and functional matters, and govern how they run their business, to help ensure they comply with applicable laws and regulations. Key Unilever policies include the Compliance Manual for the Listing Rules and Disclosure and Transparency Rules (including the Unilever Share Dealing Code), the Risk Management Policy, the Corporate Pension Policy and the Accounting and Reporting Policy Information and communication The information flow in PT Unilever Indonesia are flown from up to the bottom. The information must be effectively communicated throughout the organization to all appropiate personel Monitoring PT Unilever Indonesia do two kind of monitoring, they are ongoing monitoring activities, such as random check for inventory, monitoring the employees perfomance, is it good or not. But besides that PT Unilever Indonesia also do separate monitoring activities, such as use internal or external audit to check the financial reports, or do the stock opname.

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CHAPTER 4 CONCLUSION AND SUGGESTION So we can get the conclusion that PT Unilever Indonesia as the company which the activities is in consumer goods, they have 3 operation activity such as manufacturingm marketing, and distributing. They have good revenue cycle, besides that they have good internal control too

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