Session+5 - CLASS Slides #5 Accounting Information Systems:...

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CLASS Slides #5 Accounting Information  Systems: An Overview August 2, 2010
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CHAPTER 10 The Revenue Cycle: Sales to Cash Collections
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Summer 2010 UC Irvine MGMT 136: Accounting Information Systems 3 INTRODUCTION Questions to be addressed in this chapter include: What are the basic business activities and data  processing operations that are performed in the revenue  cycle? What decisions need to be made in the revenue cycle,  and what information is needed to make these  decisions? What are the major threats in the revenue cycle and the  controls related to those threats?
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Summer 2010 UC Irvine MGMT 136: Accounting Information Systems 4 INTRODUCTION The revenue cycle is a recurring set of business  activities and related information processing  operations associated with: Providing goods and services to customers Collecting their cash payments The primary external exchange of information is  with customers.
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Summer 2010 UC Irvine MGMT 136: Accounting Information Systems 5 INTRODUCTION Information about revenue cycle activities flows to  other accounting cycles, e.g.: The expenditure and production cycles Receive information about sales  transactions so they’ll know when to  initiate the purchase or production of  more inventory.
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Summer 2010 UC Irvine MGMT 136: Accounting Information Systems 6 INTRODUCTION Information about revenue cycle activities flows to  other accounting cycles, e.g.: The expenditure and production cycles The human resources/payroll cycle Uses information about sales to calculate  commissions and bonuses.
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Summer 2010 UC Irvine MGMT 136: Accounting Information Systems 7 INTRODUCTION Information about revenue cycle activities flows to  other accounting cycles, e.g.: The expenditure and production cycles The human resources/payroll cycle The general ledger and reporting function Uses information produced by the  revenue cycle in preparing financial  statements and performance reports.
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Summer 2010 UC Irvine MGMT 136: Accounting Information Systems 8 INTRODUCTION The primary objective of the revenue cycle: Provide the right product in the right place at the right  time for the right price.
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Summer 2010 UC Irvine MGMT 136: Accounting Information Systems 9 INTRODUCTION Decisions that must be made: Should we customize products? How much inventory should we carry and where? How should we deliver our product? How should we price our product? Should we give customers credit? If so, how much and  on what terms?
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Session+5 - CLASS Slides #5 Accounting Information Systems:...

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