L2+-+04B+Dataflow+Diagrams

L2+-+04B+Dataflow+Diagrams - ACCOUNTING INFORMATION SYSTEM...

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Click to edit Master subtitle style ACCOUNTING  INFORMATION  SYSTEM LECTURE 2
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Information Needs AIS is a framework/structure that collects  economic  and related data  and  processes  that data into  accounting  information  that is useful for internal  and external  decision  makers. External users focus on       and financial data are  collected based on  transactions Internal decisions   need to be made for each business  activity or process.    Both financial and non-financial   Examples:  Business Processes Key Decisions Information Needs Acquire Inventory What models to carry? How much to purchase? Which vendors? Market Analysis Inventory Status Reports Vendor Performance Pay vendors Whom to pay? When to pay? How much to pay? Vendor Invoices Payment Terms Accounts Payable Records $
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BUSINESS PROCESSES Governm ent  Agencies Managem ent Employee s Customer s Vendors Purchase Orders Goods & Services Vendor Invoices Vendor Payments Accounting Information System Investors Invest Funds Dividends Financial Statements Creditors Loans Financial Statements Loan Payments Banks Deposits Withdrawals Bank Statements Customer Orders Goods & Services Customer Invoices Customer Payments Labour & Services Wages/Salaries & Commissions Managerial Reports & Financial Statements Vendor Invoices Budgets & Accounting Entries Regulations & Tax Forms Taxes & Reports  Interactions between AIS and External and  Internal Parties
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Business/transaction cycles  Revenue Cycle Ø  goods & services are sold for cash  Expenditure Cycle Ø  purchase inventory for resale or raw materials for  production in exchange for cash  Production Cycle Ø  raw materials are transformed into finished goods  Payroll Cycle Ø  employees are hired, trained, compensated,  evaluated, promoted, and terminated
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L2+-+04B+Dataflow+Diagrams - ACCOUNTING INFORMATION SYSTEM...

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