Post on 16-Oct-2014
WORD AUTHOR
We are going to give thanks to our God for all blessing has given. Because
without it we can doing nothing and can’t 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. We’re 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 it’s realize how important this modul
assignment for us to implementation our learning activities during this time.
Because of we’re 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
PT Unilever | Accounting Information System 1
CHAPTER 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 Indonesia’s 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
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I.2 METHODOLOGY
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]
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
PT Unilever | Accounting Information System 3
CHAPTER II
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.
There’re 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
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DATA INPUTDATA
PROCESSINGINFORMATIO
N OUTPUT
2. DATA PROCESSING
There’re two kind of systems described in this process : Credit Sales
Processing and Cash Receipts Processing System.
THIS’S PROCESS FOR CREDIT SALES
THIS’S PROCESS FOR CASH RECEIPTS
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FOR SALES PROCESSING SYSTEM
Customers OrderSales OrderOrder AcknowledgmentPicking ListPacking SlipBilling of LadingShipping NoticeSales Invoive
FOR CASH RECEIPTS PROCESSING SYSTEM
Remittance AdviceDeposit SlipBack OrderCredit MemoCredit ApplicationSalesperson Call ReportDeliquent NoticeWrite-Off NoticeCash Register Receipts
ORDER ENTRY SHIPPING
PREPARE ANLYZE AND
REPORT
BILLING
HANDLING SALES RETURN &
ALLOWANCE
PROCESSING BACK ORDERS
REMITTENCE ENTRY
DEPOSITING RECEIPTS
POSTING RECEIPTS
PREPARING ANALYZE AND
REPORT
COLLECTING DELIQUENT ACCOUNTS
3. INFORMATION OUTPUT
Reports generated as an integral part or byproduct of revenue cycle processing
are needed to conduct a firm’s 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, we’re going to show several symbol using in revenue cycle
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.
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HARD-COPY DOCUMENTS MANU
AL DOC.FOLDER
DATA FILE
SOFTWARE
DATA STORED ONLINE
MANUAL INPUT
ONLINE DISPLAY
DATA ON PUNCHED
connector DECISION POINT
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 company’s 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
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.
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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 IIIANALYZE
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 Unilever’s 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.
III.2.2 THE REVENUE CYCLE
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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
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 distributor’s debt
Cash receipts transaction file (bank statement): contains data relating to the
payment from credit customer
III.4 DATA MANAGEMENT
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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
III.5.2 EXPLANATION
PT Unilever | Accounting Information System 11
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 distributor’s
warehouse. After logistic department receive the distributor’s plan order, they will sent
the plan order’s 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
warehouse’s 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 shed’s 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 Unilever’s account. The debt collector employee will be see the payment
with use online way, so PT Unilever can open bank’s 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.
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III.6 INTERNALCONTROL
Control environment
The Code of Business Principle, which sets standards of professionalism
and integrity for its operations worlwide, is Unilever’s 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 there’s
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
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
PT Unilever | Accounting Information System 13
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.
PT Unilever | Accounting Information System 14
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
PT Unilever | Accounting Information System 15