ACCT 307 Study Guide - Midterm Guide: Sales Process Engineering, Accounting Software, Remittance
Document Summary
Economic event impacts financial statements and business event does not: describe the sales process. Sales process begins with customer order and ends with collection of cash. Objectives: process sales and collect cash in a timely and efficient manner. Inputs: sales order, sales invoice, remittance advice, shipping notices, and. Outputs: financial satements, customer billing statement, aging report, bad debt report, cash receipts forecast, approved customer lisitng report, and sales. Purchasing process begins with request for goods/services and ends with payment of cash. Objectives: purchase high-quality goods at best price & pay vendors at optimal time. Inputs: purchase requisition, purchase order, vendor invoice, receiving report, bill of lading, and packing slip. Ouputs: financial statement info, vendor checks, check register, discrepency. Why businesses choose outsourcing and offshoring: chapter 9: ais and business processes (part ii, describe the hr management process. Objectives: hiring, training, and employing workers, maintaining employee earnings report, reporting on payroll deductions, providing an interface for personnel and payroll activities.
