HW1KB - Kelsey Brozek Homework Assignment 1 Overview of...

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Kelsey Brozek Homework Assignment 1 Overview of Business Processes 2abc. Revenue Cycle o Give Ship goods to customers or perform services (sale) o Resources: inventory (what is being sold) Agents: sales people and customers o Get Receive customer payments and deposit them in the bank (revenue) o Resources: cash (what is being acquired from the sale) o Agents: Accountants (record the sale) Expenditure Cycle o Give Prepare, approve and send purchase orders to vendors o Resources: cash (paying for the goods ) Agents: employees o Get Receive goods and services and complete a receiving report o Resources: inventory (what was purchased) o Agents: employees (new inventory recorded) Human Resources/ Payroll Cycle o Give Prepare and disburse payroll o Resources: cash, labor (payed out and recorded for labor) Agents: employees (whoever records transactions, management who will hire and train) o Get Recruit, hire and train new employees o Resources: labor (what was acquired from the hire and training)
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This note was uploaded on 10/03/2011 for the course ACCT 309 taught by Professor Cosgrove during the Spring '11 term at UNL.

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HW1KB - Kelsey Brozek Homework Assignment 1 Overview of...

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