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ISA 303 > ISA 303 Final Exam > Flashcards

ISA 303 Final Exam Flashcards

(67 cards)

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1
Q

types of enterprise systems

A
  • enterprise resource planning (ERP)
  • supplier relationship management (SRM)
  • customer relationship management (CRM)
  • supply chain management (SCM)
  • product lifecycle management (PLM)
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2
Q

functional areas of operation

A
  • marketing and sales
  • supply chain management
  • accounting and finance
  • human resources
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3
Q

process orientation

A

cures the ills of functional orientation by cutting across functional boundaries

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4
Q

key process flows

A
  • information flow
  • data and document flow
  • physical flow
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5
Q

paper-based process

A

caused delays in creating/updating paperwork and sending paperwork

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6
Q

consequences of delays

A
  • delays
  • excess inventory
  • lack of visibility across the process
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7
Q

functional systems

A

each functional area had its own database to create/update information but there was still a delay in sending paperwork to other areas

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8
Q

role of ERP in organizations

A
  • execute the process
  • capture and store process data
  • monitor performance (instance and process level)
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9
Q

Stages of ERP evolution

A
  1. stand-alone mainframe systems
  2. client-server architecture
  3. service-oriented architecture (SOA)
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10
Q

SAP ERP modules

A

•production planning, materials management, sales and distribution, plant maintenance, project systems, quality management, financial accounting, management accounting/controlling, human resources, and business intelligence

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11
Q

types of data

A
  • organizational
  • master
  • transactional
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12
Q

organizational data

A

defines the organizational structure (ex. client, company code, plant, storage locations, sales and purchasing organizations)

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13
Q

master data

A

long-term data that typically represents entities associated with various processes (ex. financial data,plant data, sales organization data, purchasing info, material master)

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14
Q

transaction data

A

data generated during execution of process steps (ex. data, time, person)

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15
Q

material types

A
  • raw materials
  • semi-finished goods
  • finished goods
  • trading goods
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16
Q

key financial accounting processes

A
  • general ledger accounting
  • accounts receivable accounting
  • accounts payable accounting
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17
Q

organizational levels

A
  1. client
  2. company code
  3. business area
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18
Q

financial master data

A

charts of accounts, general ledger accounts, subsidiary ledgers

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19
Q

types of charts of accounts

A

operative, country-specific, and group

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20
Q

general ledger accounts

A

record all relevant business transactions and are segmented by organizational level

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21
Q

general ledger segmentation

A
  • chart of account segment
  • company code segment
  • general ledger (COA + company code data)
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22
Q

balance sheet accounts

A

assets=liabilities+equities

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23
Q

profit and loss accounts

A

income=revenue-expenses

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24
Q

subsidiary or sub-ledgers

A
  • not part of the general ledger

- used to separate accounting for customers, vendors, and assets

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25
reconciliation accounts
- general ledger accounts used to consolidate data in sub-ledger accounts - cannot be posted to directly - maintain the sum of corresponding sub-ledgers
26
posting keys
two-digit code specifying the account type for posting and if it is a debit or credit
27
+ debit (reverse logic)
assets and expenses
28
- debit (regular logic)
revenue and liabilities
29
obtaining account information
3 levels 1. balance display 2. line item display 3. original G/L enteries
30
financial statement types
1. balance sheet 2. income statement 3. statement of cash flows
31
fulfillment process documents
* customer inquiry * quotation * customer purchase order * sales order * picking document * packing list * customer invoice * customer payment
32
fulfillment process participants
* sales * warehouse * accounting
33
sales (fulfillment role)
* receive customer inquiry * create and send quotation * receive customer purchase order * create sales order
34
warehouse (fulfillment role)
* prepare shipment (picking document) | * send shipment (packing list)
35
accounting (fulfillment role)
* creates and sends invoice | * receives payment
36
sales hierarchy
- client - company code - sales organization - distribution channels or divisions - sales areas
37
shipping with ERP
- stock account and COGS updated - controlling document created - billing due list updated - sales documents updated
38
billing with ERP
- customer account, reconciliation account, and sales revenue accounts updated - controlling document created - sales documents updated
39
processing payment with ERP
-cash account, customer account, and reconciliation account updated
40
procurement process documents
* purchase requisition * purchase order * packing list * goods receipt document * vendor invoice * vendor payment
41
procurement process participants
* warehouse * purchasing * warehouse * accounting
42
warehouse (procurement roles)
1. create purchase requisition | 3. receive shipment
43
purchasing (procurement role)
2. create & send purchase order
44
accounting (procurement roles)
4. receive invoice | 5. send payment
45
purchasing hierarchy
- client - company code - plant - multiple storage locations, one shared or individual purchasing organizations
46
material master views
* raw material- no sales view * finished goods- no purchasing view * trading goods- no production view
47
uses for vendor master data
* client level (general) * company code level (accounting) * purchasing organization level (purchasing)
48
goods movement
* goods receipt * goods issue * stock transfer * transfer posting
49
GR/IR account
acts as a buffer between vendor and inventory accounts
50
FI impacts for procurement occur at these steps
* goods receipt * invoice verification * payment processing
51
FI impacts for procurement affect these accounts
* inventory * GR/IR * bank * vendor * accounts payable
52
material master: MRP types
* consumption-based planning | * MRP or master production scheduling
53
consumption-based planning
derives requirements based on historical consumption data - uses reorder point, and safety stock - for low value materials
54
independent vs. dependent demand
•independent demand -finished goods and trading goods •dependent demand -semi-finished goods and raw materials
55
MRP
derives dependent demand based on independent requirements
56
MPS
derives dependent requirements only for the 1st level in the BOM, executed first for critical finished goods, usually followed by MRP
57
sales and operations planning
* create the sales plan * specify inventory requirements * creating production plans * evaluating operations plans
58
disaggregation
SOP translated into a plan to make the finished product groups using the product hierarchy
59
calculating net requirements for MRP
•MRP - available stock=plant stock-safety stock + receipts-issues - reorder when available stock is negative
60
calculating net requirements for consumption based
•consumption based - available stock=plant stock+receipts - reorder when available stock is below the reorder point
61
Procurement is triggered by fulfillment when
the company employs a procure-to-order strategy for trading goods
62
Procurement is triggered by production when
the company employs a procure-to-order strategy for raw materials
63
Procurement is triggered by material planning when
the company employs a procure-to-stock strategy for raw materials
64
Procurement is triggered by material planning when
the company employs a procure-to-stock strategy for trading goods
65
process integration
•sales -create sales order: sufficient finished goods? NO? Procure goods •warehouse production -authorize production: sufficient raw materials? NO? Procure raw materials
66
documents in production process
* planned order * production order * material withdraw slip * material withdrew slip * production order * goods receipt
67
roles in the production process
``` •warehouse 1. request production 3. issue raw materials 5. receive finished goods •production 2. authorize production 4. create products ```

ISA 303 (1 decks)

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