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AIS-Lecture 2
13問 • 1年前
  • Shan Chai Mae Amatus
    • 通報

    問題一覧

  • 1

    An economic event that affects the assets and equities of the firm, is reflected in its accounts and measured in monetary terms.

    Financial transaction

  • 2

    These transaction cycles process most of the firm's economic activity:

    Expenditure cycle, Conversion cycle, Revenue cycle

  • 3

    In this cycle, the business activities begin with the acquisition of materials, property and labor in exchange for cash.

    Expenditure cycle

  • 4

    This system recognizes the need to acquire physical inventory (such as raw materials) and places an order with the vendor which is also paid at a later date.

    Purchases/Accounts Payable system

  • 5

    When the obligation created in the purchases system becomes due, it authorizes the payment, disburses the funds to the vendor, and records the transaction by reducing the cash and account payable accounts.

    Cash disbursement system

  • 6

    It collects labor usage data for each employee, computes the payroll, and disburses paychecks to the employees. Conceptually, it is a special case purchases and cash disbursement system.

    Payroll system

  • 7

    This system maintains details about each piece of equipment and other fixed assets. It provides a system for tracking for organizations' physical assets.

    Fixed asset system

  • 8

    This cycle comprises two major subsystems: the production system and the cost accounting system.

    Conversion cycle

  • 9

    It involves planning, scheduling, and control of the physical product through the manufacturing process. This includes determining raw material requirements, authorizing work to be performed, released of raw materials into production and directing the movement of the work in process through its various stage in manufacturing.

    Production system

  • 10

    It monitors the flow of cost information including labor, overhead and raw materials related to production. The information that this system produces is used for inventory valuation, budgeting cost control, performance reporting, and management decisions, such as make-or-buy decisions.

    Cost accounting system

  • 11

    This cycle includes processing cash sales, credit sales, and the receipt of cash following a credit sale.

    Revenue cycle

  • 12

    The majority of business sales are made on credit and involve tasks such as preparing sales order, granting credit, shipping products (or rendering of a service) to the customer, billing customers, and recording the transactions in the accounts (accounts receivable, inventory, expenses and sales).

    Sales order processing

  • 13

    This process includes collecting cash, depositing cash in the bank, and recording these events in the accounts (accounts receivable and cash).

    Cash receipts

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    問題一覧

  • 1

    An economic event that affects the assets and equities of the firm, is reflected in its accounts and measured in monetary terms.

    Financial transaction

  • 2

    These transaction cycles process most of the firm's economic activity:

    Expenditure cycle, Conversion cycle, Revenue cycle

  • 3

    In this cycle, the business activities begin with the acquisition of materials, property and labor in exchange for cash.

    Expenditure cycle

  • 4

    This system recognizes the need to acquire physical inventory (such as raw materials) and places an order with the vendor which is also paid at a later date.

    Purchases/Accounts Payable system

  • 5

    When the obligation created in the purchases system becomes due, it authorizes the payment, disburses the funds to the vendor, and records the transaction by reducing the cash and account payable accounts.

    Cash disbursement system

  • 6

    It collects labor usage data for each employee, computes the payroll, and disburses paychecks to the employees. Conceptually, it is a special case purchases and cash disbursement system.

    Payroll system

  • 7

    This system maintains details about each piece of equipment and other fixed assets. It provides a system for tracking for organizations' physical assets.

    Fixed asset system

  • 8

    This cycle comprises two major subsystems: the production system and the cost accounting system.

    Conversion cycle

  • 9

    It involves planning, scheduling, and control of the physical product through the manufacturing process. This includes determining raw material requirements, authorizing work to be performed, released of raw materials into production and directing the movement of the work in process through its various stage in manufacturing.

    Production system

  • 10

    It monitors the flow of cost information including labor, overhead and raw materials related to production. The information that this system produces is used for inventory valuation, budgeting cost control, performance reporting, and management decisions, such as make-or-buy decisions.

    Cost accounting system

  • 11

    This cycle includes processing cash sales, credit sales, and the receipt of cash following a credit sale.

    Revenue cycle

  • 12

    The majority of business sales are made on credit and involve tasks such as preparing sales order, granting credit, shipping products (or rendering of a service) to the customer, billing customers, and recording the transactions in the accounts (accounts receivable, inventory, expenses and sales).

    Sales order processing

  • 13

    This process includes collecting cash, depositing cash in the bank, and recording these events in the accounts (accounts receivable and cash).

    Cash receipts