Riordan Manufacturing
Hardware and Software Selection Paper
Ashlee Aviguetero, Bobbi Duck, Tracy Finch, and Julie Stoltz
University of Phoenix
ACC340
Jeffrey Prinster
March 23, 2009
Accounting Cycle Description Paper An organization’s accounting information system includes collecting information then dividing the information into cycles. This paper will identify the five accounting cycles and specifically how Riordan Manufacturing uses the expenditure cycle. The strengths and weaknesses of the internal controls related to the expenditure cycle will be examined. This paper will explain how to integrate the expenditure cycle into an enterprise-wide accounting information system. The various types of information systems necessary to achieve this integration …show more content…
| |receivable, and cash payments |and deposit slips | |
|Expenditure |Tracks purchases and inventory,|Purchase orders, receiving |Expense accounts (labor, |
| |payments required, and payroll |reports, personnel actions, and|vacation, utilities, and rent),|
| | |vendor invoices |inventory accounts, and |
| | | |liability accounts (accounts |
| | | |payable, taxes payable, wages |
| | | |payable, and cash) |
|Financing |Tracking and payment of | | |
| |long-term debt, stock issuance,| | …show more content…
For instance, in an enterprise-wide system, the accounting information system should focus on four objectives including strategic, operations, reporting, and compliance. In order for a business process management system to be implemented, the managers of the company need to evaluate certain criteria of the human resource department which can affect the expenditure cycle. First, management needs to identify the objectives of the human resource department in regards to employee records. This has a direct impact on the strategic objective of the enterprise-wide system. Secondly, the input function needs to be reevaluated. For instance, since the company has four different branches, all input data should be on one method of input. This analysis and pending action would increase the operations function. Thirdly, output time would radically increase for all four branches. The types of output Riordan should consider are the compliance and reporting objectives of the enterprise-wide system. Furthermore, to have the expenditure cycle implemented, this would decrease the amount of time that Riordan is taking to report
Ashlee Aviguetero, Bobbi Duck, Tracy Finch, and Julie Stoltz
University of Phoenix
ACC340
Jeffrey Prinster
March 23, 2009
Accounting Cycle Description Paper An organization’s accounting information system includes collecting information then dividing the information into cycles. This paper will identify the five accounting cycles and specifically how Riordan Manufacturing uses the expenditure cycle. The strengths and weaknesses of the internal controls related to the expenditure cycle will be examined. This paper will explain how to integrate the expenditure cycle into an enterprise-wide accounting information system. The various types of information systems necessary to achieve this integration …show more content…
| |receivable, and cash payments |and deposit slips | |
|Expenditure |Tracks purchases and inventory,|Purchase orders, receiving |Expense accounts (labor, |
| |payments required, and payroll |reports, personnel actions, and|vacation, utilities, and rent),|
| | |vendor invoices |inventory accounts, and |
| | | |liability accounts (accounts |
| | | |payable, taxes payable, wages |
| | | |payable, and cash) |
|Financing |Tracking and payment of | | |
| |long-term debt, stock issuance,| | …show more content…
For instance, in an enterprise-wide system, the accounting information system should focus on four objectives including strategic, operations, reporting, and compliance. In order for a business process management system to be implemented, the managers of the company need to evaluate certain criteria of the human resource department which can affect the expenditure cycle. First, management needs to identify the objectives of the human resource department in regards to employee records. This has a direct impact on the strategic objective of the enterprise-wide system. Secondly, the input function needs to be reevaluated. For instance, since the company has four different branches, all input data should be on one method of input. This analysis and pending action would increase the operations function. Thirdly, output time would radically increase for all four branches. The types of output Riordan should consider are the compliance and reporting objectives of the enterprise-wide system. Furthermore, to have the expenditure cycle implemented, this would decrease the amount of time that Riordan is taking to report