Before Midterm (Ch. 1-8) Flashcards Preview

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Flashcards in Before Midterm (Ch. 1-8) Deck (15):
1

Objectives of the financing process

-effective cash management
-cost of capital optimization
-earn maximum return on investments
-project cash flows

2

Inputs of financing process (source documents)

-Remittance advices
-Deposit slips
-Cheques
-Bank statements
-Stock market data
-Interest data
-Financial institution profiles

3

Outputs (Reports)

-Financial statement information
-Cash budget
-Investment reports
-Debt and interest reports
-Financial ratios
-Financial planning model reports

4

Production Process Objectives

-Track purchases and inventories
-Monitor and control manufacturing costs
-Control inventory
-Control and coordinate the production process
-Provide input for budgets

5

Inputs (source documents) for Production Process

-Materials requisition form
-Bill of materials
-Master production schedule
-Production order
-Job time cards

6

Outputs of Production process

-Financial statement information
-Material price lists
-Periodic usage reports
-Inventory status reports
-Production cost reports
-Manufacturing status reports

7

Human resource management Objectives

-Hiring, training and employing workers
-Maintaining employee earnings records
-Complying with regulatory reporting requirements
-Reporting on payroll deductions
-Making timely and accurate payments
-Providing an interface for personnel and payroll activities

8

Inputs of HRM

-Personnel action forms
-Time sheets
-Payroll deduction authorizations
-Tax withholding forms

9

Outputs of HRM

-Financial statement information
-Employee listings
-Paycheques
-Cheque registers
-Deduction reports
-Tax reports
-Payroll summaries

10

Purchasing Process Objectives

-Tracking purchases of goods and or services from vendors
-Tracking amounts owed
-Maintaining vendor records
-controlling inventory
-Making timely and accurate vendor payments
-Forecasting purchases and cash outflows

11

Inputs (Purchasing Process)

-Purchasing invoice
-Purchase requisition
-Purchase order
-Vendor listing
-Receiving report
-Bill of lading
-Packing slip
-Debit/credit memoranda

12

Outputs (purchasing process)

-Financial statement information
-Vendor cheques
-Cheque register
-Discrepancy reports
-Cash requirements forecast
-Sales analysis reports

13

Sales Process Objectives

-Tracking sales of goods and/or services to customers
-Filling customer orders
-Maintaining customer records
-Billing for goods and services
-Collecting payment for goods and services
-Forecasting sales and cash receipts

14

Inputs (sales process)

-Sales order
-Sales invoice
-Remittance advice
-Shipping notice
-Debit/Credit memoranda

15

Outputs (sales process)

-Financial statement information
-Customer billing statement
-Aging report
-Bad debt report
-Cash receipts forecast
-Customer listing
-Sales analysis report