Managerial Accounting
Chapter7&8 discussion questions
CHAPTER 7
Discussion Questions :
#2. Why is there a trend toward cross-functional integrated enterprise systems in business? Due to positive turnout of many businesses, cross-functional integrated systems is not only becoming a trend but will be here to stay. The whole system provides savings from time, cost and quality compared to manually re-entering of data from one business function system into another system especially if it is still on a non-integrated environment. Thru the integrated systems, the managers can have direct access to relevant information significant to a decision. This also provides the needs of the customers, suppliers and business partners as well. In terms of operations, business enterprise runs smooth given the cross-functional systems. This saves times and dramatically improves the efficiency of total operation. it can act strategically
#3. Which of the 13 tools for accounting information systems summarized in
Figure 7.18 do you feel are essential for any business to have today? Which of them do you feel are optional, depending on the type of business or other factor?
Explain.
Essential :
1) Sales Order Processing- This is how orders are processed without this incoming and outgoing orders is not monitored. Since my company deals with fuel retailing it is very important that orders are managed and delivered to our customers.
2) Sales Analysis- This is very important since we have to analyze well if our sales are picking up or not, it is where we understand the needs and wants of our customers. This also helps us analyze what factors to consider in handling our products sales (such as supply and demand, margins, prices and market).
3) Accounts Receivable- This is where we monitor our receivables from our customers. Without this, we will not be able collect our sales. This is also a tool in monitoring our company's profitability.
4) Accounts Payable – We also need to monitor our
CHAPTER 7
Discussion Questions :
#2. Why is there a trend toward cross-functional integrated enterprise systems in business? Due to positive turnout of many businesses, cross-functional integrated systems is not only becoming a trend but will be here to stay. The whole system provides savings from time, cost and quality compared to manually re-entering of data from one business function system into another system especially if it is still on a non-integrated environment. Thru the integrated systems, the managers can have direct access to relevant information significant to a decision. This also provides the needs of the customers, suppliers and business partners as well. In terms of operations, business enterprise runs smooth given the cross-functional systems. This saves times and dramatically improves the efficiency of total operation. it can act strategically
#3. Which of the 13 tools for accounting information systems summarized in
Figure 7.18 do you feel are essential for any business to have today? Which of them do you feel are optional, depending on the type of business or other factor?
Explain.
Essential :
1) Sales Order Processing- This is how orders are processed without this incoming and outgoing orders is not monitored. Since my company deals with fuel retailing it is very important that orders are managed and delivered to our customers.
2) Sales Analysis- This is very important since we have to analyze well if our sales are picking up or not, it is where we understand the needs and wants of our customers. This also helps us analyze what factors to consider in handling our products sales (such as supply and demand, margins, prices and market).
3) Accounts Receivable- This is where we monitor our receivables from our customers. Without this, we will not be able collect our sales. This is also a tool in monitoring our company's profitability.
4) Accounts Payable – We also need to monitor our