BPOI – 003 Procure to Pay ( 2020-21)

TUTOR MARKED ASSIGNMENT (2021)
Procure to Pay (P2P)
Maximum Marks: 100 Course Code: BPOI – 003
Weight age: 30% January 2021/ July 2021
Note: This assignment covers all of Course 3. All questions are compulsory. Marks assigned
to the questions have been shown in the bracket.

Q1. Fill in the blanks: (1×5=5)
i. The activity of placing an order to buy stationery items belong to —————- stage.
ii. The average time taken for a transaction to be completed is called ——————.
iii. Purchase activities consist of ———————— and ——————— process.
iv. ———- Invoices are raised by the vendor for purchases that were made without raising PO.
v. Measurements taken on an activity to measure its quality is called ——————–.
Q2. True or False: (1×5=5)
i. Vendors bank details are available in Vendor Master.
ii. The computer based application that allows the management of the requests from creation to
closure is called Request Tracker.
iii. The quality control team should be a part of the AP team to be most effective.
iv. Degree of certainty of a possible outcome is Risk.
v. The Duality principle of accounting is also called principle of accounting equivalence.
Q3. Write full form of the following: (1×5=5)
i. EFT ii. ACH iii. EDI iv. ISP v. TAT
Q4. Write short notes on: (In about 200 -250 words) (10×4=40)
i. Importance of Helpdesk
ii. Role and Responsibility of Quality Control Specialist
iii. Steps needed by P2P team to prepare month end report
iv. Parties involved in the T & E process and their responsibilities
Q5. Explain all the Risks associated with the P2P cycle? How these risks are mitigated? (10+10=20)
Q6. Describe at least 10-12 best practices used by P2P team to improve the processes. (25)