The study of Applying the Internal Control Based on COSO Framework to process of billing and receiving cash at PT ABC

Heri Yuliyanto; Chotib Hasan; Silsilia nurtia Putri; Dewi Kartikasari; Nur rahmi Fithriani

doi:10.2991/978-2-38476-132-6_67

The study of Applying the Internal Control Based on COSO Framework to process of billing and receiving cash at PT ABC

Heri Yuliyanto, Chotib Hasan, Silsilia nurtia Putri, Dewi Kartikasari, Nur rahmi Fithriani

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

Abstract

Business competition is getting more challenging in the current era of globalization, so companies must be able to generate income and manage company operations effectively and efficiently. Therefore, billing and receiving cash is an essential part of the business process at PT ABC to generate income. Implementing internal control in this process can guarantee that PT ABC protects assets, ensure accurate records, improve operational efficiency, and encourage policy compliance. This study uses a single case study method by applying the COSO framework to the process of billing and cash receipts. Based on the results obtained from the research, PT ABC has implemented COSO Framework so that companies can achieve their goals. However, companies can make journal entries for financial transactions to make their financial reports more accurate. In addition, the company sends a monthly account receivable report to the client as a billing reminder and avoids the possibility of late payments.

Original language	English
Title of host publication	Proceedings of the 6th International Conference on Vocational Education Applied Science and Technology (ICVEAST 2023)
Pages	783-798
DOIs	https://doi.org/10.2991/978-2-38476-132-6_67
Publication status	Published - 31 Oct 2023

Keywords

Internal Control
COSO Framework
Billing Process
Receipt Cash
Revenue Cycle
Single Case Study and Reserch Qualitative

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10.2991/978-2-38476-132-6_67

Cite this

Yuliyanto, H., Hasan, C., Putri, S. N., Kartikasari, D., & Fithriani, N. R. (2023). The study of Applying the Internal Control Based on COSO Framework to process of billing and receiving cash at PT ABC. In Proceedings of the 6th International Conference on Vocational Education Applied Science and Technology (ICVEAST 2023) (pp. 783-798). Article Chapter 67 https://doi.org/10.2991/978-2-38476-132-6_67

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author = "Heri Yuliyanto and Chotib Hasan and Putri, {Silsilia nurtia} and Dewi Kartikasari and Fithriani, {Nur rahmi}",

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Yuliyanto, H, Hasan, C, Putri, SN, Kartikasari, D & Fithriani, NR 2023, The study of Applying the Internal Control Based on COSO Framework to process of billing and receiving cash at PT ABC. in Proceedings of the 6th International Conference on Vocational Education Applied Science and Technology (ICVEAST 2023)., Chapter 67, pp. 783-798. https://doi.org/10.2991/978-2-38476-132-6_67

The study of Applying the Internal Control Based on COSO Framework to process of billing and receiving cash at PT ABC. / Yuliyanto, Heri; Hasan, Chotib; Putri, Silsilia nurtia et al.
Proceedings of the 6th International Conference on Vocational Education Applied Science and Technology (ICVEAST 2023). 2023. p. 783-798 Chapter 67.

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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AU - Fithriani, Nur rahmi

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Y1 - 2023/10/31

N2 - Business competition is getting more challenging in the current era of globalization, so companies must be able to generate income and manage company operations effectively and efficiently. Therefore, billing and receiving cash is an essential part of the business process at PT ABC to generate income. Implementing internal control in this process can guarantee that PT ABC protects assets, ensure accurate records, improve operational efficiency, and encourage policy compliance. This study uses a single case study method by applying the COSO framework to the process of billing and cash receipts. Based on the results obtained from the research, PT ABC has implemented COSO Framework so that companies can achieve their goals. However, companies can make journal entries for financial transactions to make their financial reports more accurate. In addition, the company sends a monthly account receivable report to the client as a billing reminder and avoids the possibility of late payments.

AB - Business competition is getting more challenging in the current era of globalization, so companies must be able to generate income and manage company operations effectively and efficiently. Therefore, billing and receiving cash is an essential part of the business process at PT ABC to generate income. Implementing internal control in this process can guarantee that PT ABC protects assets, ensure accurate records, improve operational efficiency, and encourage policy compliance. This study uses a single case study method by applying the COSO framework to the process of billing and cash receipts. Based on the results obtained from the research, PT ABC has implemented COSO Framework so that companies can achieve their goals. However, companies can make journal entries for financial transactions to make their financial reports more accurate. In addition, the company sends a monthly account receivable report to the client as a billing reminder and avoids the possibility of late payments.

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KW - Revenue Cycle

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The study of Applying the Internal Control Based on COSO Framework to process of billing and receiving cash at PT ABC

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Keywords

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