380%20Sum11%20CL18%20FC%20wrap%20and%20Expend%20Cycle%202

380 Sum11 CL18%2 - Flowcharting Practice Objective Practice flowcharting Review Expenditure Cycle Collect homework Lansdowne Do Lansdowne

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Click to edit Master subtitle style Flowcharting Practice Objective: Practice flowcharting Review Expenditure Cycle Collect homework – Lansdowne Do Lansdowne Expenditure Cycle
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Muddiest Points Are we going to use this in real life? In public accounting, maybe or maybe not. Much more likely to read than create. But in industry, you will almost certainly create or use some sort of flowcharting Do we need to memorize symbols for the test? Yes. You will be given a problem and have to know how to draw a flowchart, as in class, or correct a flowchart that contains errors.
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Muddiest Points Separate processes or one? If the two steps are always done one immediately after the other by the same person for the same transaction, then they do them together for next transaction, then combine.
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Lansdowne Solution
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Readings in Ch.3 on Internal Control For next class
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Expenditure Cycle Steps (Ch. 5) 1. Determine what you need 2. Order what you need 3. Receive goods/services 4. Pay for what you received
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1. Determine what you need
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This note was uploaded on 08/07/2011 for the course ACC 380 taught by Professor Harkness during the Spring '11 term at University of Michigan-Dearborn.

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380 Sum11 CL18%2 - Flowcharting Practice Objective Practice flowcharting Review Expenditure Cycle Collect homework Lansdowne Do Lansdowne

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