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09_Purchasing_Business_Process

09_Purchasing_Business_Process - Overview Business process...

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1 Purchasing (Order-to-Pay) Business Process Lect 9 ` Business process fundamentals ` Purchasing business process ` Objectives ` Events Inputs Overview ` ` Outputs 2 ` Defined ` Objectives ` Events ` Inputs Purchasing Business Process ` Outputs 3 ` Tracking purchases of goods and/or services from vendors ` Tracking amounts owed ` Maintaining vendor records Objectives of the Purchasing Business Process ` Controlling inventory ` Making timely and accurate vendor payments ` Forecasting purchases and cash outflows 4 ` Order goods/services ` Receive goods/provide services ` Make payment Events in the Purchase Business Process 5 ` Purchase Requisition ` Purchase Order ` Vendor Listing ` Receiving Report Inputs to the Purchase Business Process ` Bill of Lading ` Packing Slip ` Debit/Credit Memoranda 6
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2 ` Financial Statement Information ` Vendor Checks ` Check Register ` Discrepancy Reports Outputs from the Purchase Business Process ` Cash Requirements Forecast ` Purchases Analysis Reports 7 Larkin State University is a medium-size academic institution located in the southeastern United States. The university employs about 250 full-time faculty and 300 staff personnel.
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