ACC321_Accounting_Information_Systems_sy (1)

ACC321_Accounting_Information_Systems_sy (1) - ACC321...

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ACC321 Accounting Information Systems Broad School, Michigan State University Fall 2011 Instructor Information Name: Cheri Speier E-mail:[email protected] Office: N215 North Business Complex Office Phone: 355-7448 Home Phone: 974-7444 Office Hours: Monday and Wed 11:40-12:30 in Bessey 112 and by appointment Text and Materials Romney and Steinbart : Accounting Information Systems, 11th Edition, 2009, or 12th Edition 2011 ; Prentice Hall. Additional class materials will be posted @ http://angel.msu.edu Introduction In today’s fast-paced business environment, business managers need reliable information in order to make effective decisions to best lead the organization. In most organizations, the information needed to process transactions (invoices, bills, customer orders) and to support management decision making is supported by information systems. Information systems support critical enterprise business processes that generate accounting information including : 1) the revenue cycle with sales orders ; 2) the expenditure cycle with purchasing and cash disbursements ; 3) the production cycle with raw materials usage ; 4) the human resource cycle with payroll ; and 5) the general ledger and reporting cycle with financial statements, etc. In order for these information systems to support these enterprise business processes effectively, it is critical that accountants have the capabilities to not just use these systems but to develop, evaluate, and audit these systems. Designing a good accounting information system starts with recognizing how a company deploys its resources and people to create value for its customers and hence a profit for its owners. We call a model of this strategic process the Business Enterprise Script , an example of which can be seen on the next page. Once a company's script for profitable economic behavior has been specified, each process in that script can be described further as a value-added exchange where the enterprise gives up or consumes some resources (such as i labor and raw materials) and takes back or produces something of greater value to its customers (such as finished goods). Each of these exchanges can be separately modeled in a database, and when we put them all together, we have a complete picture of an enterprise's value- chain and a complete specification of its accounting system. From this accounting system, we will see that it is possible to produce any of the various
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This note was uploaded on 10/20/2011 for the course ACC 321 taught by Professor Dunn during the Spring '11 term at Michigan State University.

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ACC321_Accounting_Information_Systems_sy (1) - ACC321...

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