created by following the menu path: Logistics Sales and Distribution Sales Inquiry Create. As shown in the figure below, Sold-to-Party and Ship-to-Party fields are populated by searching with dataset# 70 and selecting 70 West Hills Athletic Club. A purchase order number WH170 is created for the inquiry. Also the duration for which this inquiry is valid, is defined by setting Valid from and Valid to fields. The material which customer wants to buy is entered in the Material column and the quantity
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___________________ Q. In which menu do we found the option of General Journal Entry? Q. Applied to sales tab is use for a. b. c. d. Credit Sales Cash sales Sales through Sales Order Cash purchase Q. What is the purpose of using any ERP? Q. In assembling companies business only purchase ___________________ and sale _______________ Q. What is the difference between Real time and Batch? Q. Peachtree is made by a. b. c. d. Microsoft Sage Adobe Flash Q. What is Payroll Journal
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it is not. It is tactical in nature when expeditor was picking up parts with no confirmed orders or supply department receiving invoices for items that could not be matched to corresponding purchase order. 2. Purchasing procedures at Blozis are related to specifications, the use of requisitions, purchase orders, and receipt and delivery. Should these be changed? Why or why not? If they should be changed, how? Problems: Yes they should be changed because the current processes will only generate
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disbursements for those acquisitions are fairly presented in accordance with accounting standards. There are three classes of transactions included in the cycle: 1. Acquisitions of goods and services 2. Cash disbursements 3. Purchase returns and allowances and purchase discounts Slide 2 And all three transactions are either debited or credited to accounts payable. Ten typical accounts involved in the acquisition and payment cycle are shown by T accounts. Slide 3 For simplicity, we show
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Chapter 7 Audit of the Purchases and Payment Cycle 1. Objectives 1.1 To describe the documents and records that are usually found in the purchases and payment cycle. 1.2 To state the general audit procedures for the test of internal controls of this cycle. 1.3 To mention the substantive tests used for the trade creditors. [pic] 2. Documents and Records 2.1 Purchase requisition (請購單) – a form detailing the request for goods or services by an authorized employee of the user department
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finished goods to the revenue cycle. It is linked to the Expenditure Cycle by sending purchase requisitions to order raw materials to the Expenditure Cycle, and the Expenditure Cycle then allocates overhead and raw materials costs to the Production Cycle. The Production Cycle is linked to the Human Resource/Payroll Cycle by requesting labor from HRP, which then allocates the labor costs to the Production Cycle. Management receives reports from the Production Cycle, which sends cost of goods produced information
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For the purpose of this assignment the database environment will be a series of tables which store customer, sales order, purchase order and various status point information. This data will then be used for a series of reports to demonstrate status of the purchase order as it flows through the system. The ultimate goal is by customer provide an accurate status of their purchase order that is submitted electronically. Over the last 10 years our company has struggled with lost electronic orders
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ATG 383 … Accounting Systems and Control … Potential Examination 2 Essay Questions and Problems 1. What is the purpose of accounting? To provide information useful for decision-making 2. List each of the five components of the COSO internal control framework. Control environment – tone at the top Risk assessment – threats do we face Information and communication – speaking & writing effectively Monitoring - feedback Control activities – how to deal with the risk (IT & physical
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profit of each activity :The profit of any activity can be ascertained by matching cost with the revenue of that activity. The purpose under this step is to determine costing profit or loss of any activity on an objective basis. * Assisting management in decision making :Decision making is defined as a process of selecting a course of action out of two or more alternative courses. For making a choice between different courses of action, it is necessary to make a comparison of the outcomes, which
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CHAPTER 13 THE EXPENDITURE CYCLE: PURCHASING AND CASH DISBURSEMENTS SUGGESTED ANSWERS TO DISCUSSION QUESTIONS 13.1 In this chapter and in Chapter 12 the controller of AOE played a major role in evaluating and recommending ways to use IT to improve efficiency and effectiveness. Should the company’s chief information officer make these decisions instead? Should the controller
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