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Accounting Information Systems

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Reflection and Self-assessment 12.1 What resources does your university gather to help you achieve your educational goals? The resources that my university gathers to help me to achieve my educational goals are money; technological tools: computers, IT system, smart labs; infrastructure: buildings, roads; tables, chairs…; human resources: faculty, staff. Reflection and Self-assessment 12.2 How do the documents listed above relate to those discussed for the sales / collection process? Which documents would generate journal entries in the accounting information system? What would those entries be? The acquisition/payment process’ documents relate to the sales/collection process’ documents in a sense of the acquisition/payment process’ “flipping side” of the sales/collection process. Receiving report : The journal entry is Debit Assets, Credit Account Payable.
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Unformatted text preview: Depends on the freight terms, the shipping fee may either be charged to Dreambox’s account or the vendors’. Check : The journal entry is Credit Cash, Debit Account Payable. Reflection and Self-assessment 12.3 Use the narrative description above to prepare a flowchart of a generic acquisition / payment process. 12-1 12-2 Operating department Start Prepare purchase requisitio n 2 Purchase 1 requisition Purchasing Department N 2 Purchasing Department Purchase requisitions from various departments Consolidat e various purchase orders Purchase 1 order N Vendor 12-3 Yes No Receiving department Receiving Report Purchase Order Matc Vendor 2 Receiving 1 report Purchasing Department Accounting Department Accounting department Invoice Purchase Order Receiving Report Mat ch Vendor No Ye Issue checks Checks...
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  • Summer '10
  • UNKNOWN
  • Purchase order, purchase requisition, educational goals, Account Payable, Debit Account Payable, Credit Account Payable

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