Accounting Systems Ch. 5, 10 And 11

Front 1

What are the 4 different flowcharts?

Back 1

1. Basic Flow Chart

2. Document Flow Chart

3. Systems Flow Chart

Program Flow Chart

Front 2

Basic Flow Chart???

Back 2

Shows only in broad terms what tasks a system performs???

Front 3

Document Flow Chart

Back 3

Traces physical flow of documents from departments, groups or individuals who first created them to their final destinations;

Focuses on tangible items

Front 4

Systems Flow Chart

Back 4

Focuses on computerized data flows of the AIS's (intangible items);

Depicts electronic flow of data and processing steps in AIS

Front 5

Program Flow Chart

Back 5

Outline processing logic of computer programs as well as the order in which processing steps take place

Front 6

Decomposition

Back 6

Act of taking a part a broad diagram to turn it into smaller sections

Front 7

Why do we document AIS's?

Back 7

1. To audit AIS's

2. To save money

3. To train users

4. To design new systems

5. To depict how system works

Front 8

Decision Tables

Back 8

A table of conditions and processing tasks that indicates what action to take next for each possibility

Front 9

Business Process

Back 9

Collection of activities and workflows in an organization that creates value

Front 10

What are the two types of Business Process?

Back 10

Sales and Purchasing

Front 11

What does a Sales Process in the Business Process include?

Back 11

1. Taking orders

2. Filing orders

3. Managing customer inquiries

4. Receiving Payment

Front 12

Describe the Financial Accounting Cycle

Back 12

Journal

Ledger

Trial Balance

Financial Statement

Front 13

Describe the Sales Process:

Back 13

Begins with customer order or goods/services and ends with the collection of cash from customer

Front 14

What are the objectives of the Sales Process?

Back 14

1. Tracking sales to customers

2. Filing customer orders

3. Maintaining customer records

Front 15

What are the inputs for the Sales Process?

Back 15

1. Sales Order

2. Sales Invoice

3. Shipping Notice

Front 16

What are the outputs for the Sales Process?

Back 16

1. Financial Statement Information

2. Customer billing statement

3. Aging report

Front 17

Describe the Purchase Process:

Back 17

Begins with a request or an order for goods/services and ends with a payment to the vendor

Front 18

What are the objectives for the Purchase Process?

Back 18

1. Tracking purchases from vendors

2. Tracking amounts owed

3. Maintaining vendor records

Front 19

What are the inputs for the Purchase Process?

Back 19

1. Purchase order

2. Vendor listing

3. Packing slip

Front 20

What are the outputs for the Purchase Process?

Back 20

1. Financial statement information

2. Vendor checks

3. Check register

Front 21

Describe the HR Management Process:

Back 21

Includes the personnel function which is responsible for hiring or laying off employees

Front 22

What are the objectives for the HR Management Process?

Back 22

1. Hiring, training, and employing workers

2. Maintaining employee earnings records

3. Making timely/accurate payments to employees

Front 23

What are the inputs for the HR Management Process?

Back 23

1. Time sheets

2. Personnel action forms

3. Tax withholding forms

Front 24

What are the outputs for the HR Management Process?

Back 24

1. Financial statement information

2. Employee listings

3. Paychecks

Front 25

Describe the Fixed Asset Management Process (FAM):

Back 25

Manage the purchase, maintenance, valuation and disposal of an organizations fixed assets

Front 26

What are the objectives for the Fixed Asset Management Process?

Back 26

1. Tracking purchases of fixed assets

2. Recording fixed assets maintenance

3. Valuing fixed assets

Front 27

What are the inputs for the Fixed Asset Management Process?

Back 27

1. Purchasing requisition

2. Receiving reports

3. Supplier invoices

Front 28

What are the outputs for the Fixed Asset Management Process?

Back 28

1. Financial statement information

2. Fixed asset register

3. Depreciation register

Front 29

Describe the Production/Conversion Process:

Back 29

Begins with request from raw materials and ends with finished goods to warehouses

Front 30

What are the objectives of the Production/Conversion Process?

Back 30

1. Track purchases/sales of inventories

2. Monitor/control manufacturing costs

3. Control inventory

Front 31

What are the inputs of the Production/Conversion Process?

Back 31

1. Materials requisition form

2. Bill of materials

3. Job time cards

Front 32

What are the outputs of the Production/Conversion Process?

Back 32

1. Financial statement information

2. Materials price list

3. Periodic usage reports

Front 33

Describe the Financing Process:

Back 33

Describes how a company acquires and uses financial resources such as cash, other liquid assets and investments

Front 34

What are the objectives for the Financing Process?

Back 34

1. Effective cash management

2. Cost of capital organization

3. Earn maximum return on investments

Front 35

What are the inputs for the Financing Process?

Back 35

1. Checks

2. Bank statements

3. Deposit slips

Front 36

What are the outputs for the Financing Process?

Back 36

1. Financial statement information

2. Cash budget

3. Investment reports

Front 37

BPM Software

Back 37

Business Process Management Software

A combination of software tools and management practices that enable entities to accomplish business processes more efficiently

Front 38

Professional Service Organizations

Back 38

Businesses who provide special services to customers such as:

accounting, legal and consulting services

Front 39

Net For Profit Organization

Back 39

Provide services for the protection and betterment of society

Ex. public schools, museums, churches and governmental agencies

Front 40

Healthcare Organization

Back 40

Do not provide tangible goods to their customers except for drugs; output is difficult to measure for this industry

Front 41

BPR

Back 41

Business Process Reengineering

Redesigning business processes that are no longer efficient