week 4 - acc5130_CH11_Fal10_post

week 4 - acc5130_CH11_Fal10_post - Accounting Systems...

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Unformatted text preview: Accounting Systems: Design and Control Chapter 11 – Expenditure Cycle Ms. Pam J. Schmidt PhD Candidate Dept. of Accounting School of Business Administration CH 10 & 11: Revenue and Expenditure • How do the revenue and expenditure cycles work? ▫ A typical merchandising firm ▫ Understanding business processes is critical. ▫ DFDs from the textbook • How are the AIS-based activities processed ▫ Sage MAS 200 as "representative" accounting software (ERP) package ▫ The DFDs fit Sage MAS 200 ERP fairly closely, but . . CH 11: Expenditure Cycle: Key Issues ▫ What are the basic business activities and data processing operations? ▫ What decisions need to be made, and what information is needed? ▫ What are the major threats ▫ What are the major controls related to those threats? Expenditure Cycle • Primary objective: ▫ Minimize the total cost of acquiring and maintaining inventory, supplies, and services. • Information about expenditure cycle activities flows to other accounting cycles • Management evaluates the efficiency and effectiveness, requiring data about:  R: Resources affected  E: Events that occur  A: Agents who participate Expenditure Cycle :...
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week 4 - acc5130_CH11_Fal10_post - Accounting Systems...

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