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Chapter 10 Class Notes

by: Lauren95

Chapter 10 Class Notes ACC 375

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This document has information that was covered in class. It is a PowerPoint presentation with detailed handwritten notes.
Accounting Information Systems
Dr. Farrell
Class Notes
AIs, Accounting, information, Systems, Farrell, George H. Bodnar, Bodnar, Hopwood, William S. Hopwood, Chapter, 10, class, notes, handwritten, powerpoint
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This 5 page Class Notes was uploaded by Lauren95 on Friday April 22, 2016. The Class Notes belongs to ACC 375 at Pace University taught by Dr. Farrell in Spring 2016. Since its upload, it has received 3 views.


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Date Created: 04/22/16
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Resources available for production are communicated management of manufacturing inventories: production planning materials, work in process (WlP), and to the function through lnyenfo4l status reportand factoryavailability repofts. finished goods. . A production order serves as authorization for the . Job costing is a procedure inwhich costs production departments to make products. are distributed to particular jobs or . Materials requisition is issued for eachoduction - order to authorize the stores function. production orders. [15rp t' . Laboroperationsarerecorded onjob time cards. . Process costing - costs are compiled in . Production status reports are sentperiodicallyfrom process or depaftment accounts by periods. eisrmfot"iS the production departments to the production planning ir:tl'r'x' function. @ 20PeaMftucatIntoblihiPe.tiHs[.13 1bRdnirtsoptrd Wfih W ,, f,'\d\rcr $pgr-ei\-ru'. tlll- (*b"at+ (^L', rr-e qJJr* t*., l-ffo&. ' ?-u$,.t1-r",.c'rr€'r-- S(cud' {\S & lr'!i rc+{'3 au'fter1 f,Ob, <r":e.u- ,{Tlrtlie,:t!1, ft{iir"i}I0,n* rrrc*Cn'ci{! Lt ptr,iXf' gn'^15 SuJhut+l' J'r'e-fW'a cn d l.'rrf1-r'rtiv'-c @ 2004 Prentice Hall Business Publishing, Accounting Information Sys ems, 9/ e,by Bodnar/Ilopwood 2-1 'fn - Prr+ kc'l *rr.srI & rn(t/r} inx-'n*er\ as: . Provides such information EOQ: 2s . lnventory use PI . lnventorV balances Where'. orderquantityunits) . Minimum and maximum levels ofstock EOQ' = economic thiseriod(units) the levelof inventory at ; = requirementsortheitem . Reorder pornt - produce PurchasingcosPer order *f,t'"titis desirable to order or unitcost additional items. ' inventoryarryingostperp".tl9d'---,^, quantitY (EOQ) exprets"das apercentageofthepenoo . 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Concerns an organization's fixed assets and investments. Four objectives: . Maintain adequate records. . Provide for appropriate depreciation and/or amortization. . Provide for reevaluation for insurance and replacement-cost purposes. . Provide management with reports for & O2011 PBu€lihc. Pubhhine .{r.,/EBd.anllopsd W .,.,"_:'.::,::.1:::::::::",,. byB&,H.Pwd ffi . Fixed-asset register a systematic - listing of an organization's fixed ASSCtS, o lnvestment register - contains all relevant information, such as certificate numbers and the par value of securities, to facilitate identification and control. ffi. ffi @ 2013 Educatid. hcaPrati@ tu/1by Bdnarfrofd @ 2004 Prentice Hall Business Publishing, Accounting Information Systems, 9/e,by Bodnar/Hopwood 2-3 :::: ::ffi:::::s:ffi; . Production planning involves the i:,r!l***t:t determination of which products to produce and the scheduling of production to make optimal use of production resources. r Demand product for a o Productionrequirements r Production resources available nFsv@N.$]@ : *s{ts*e* pr@rie @ 20Pesd Edudjho. tubliasins Hd,t /l/bBdwmopwd @ @ 20Pesu Brcanoho. PuhlaPrdt@etl4tl/4byBdmrEopwd W @2oiP€il$n Mu€do& hc. toblisahre Eall.4l byBdH/HopW ffi ffi @ 2004 Prentice Hall Business Publishing, Accounting Information Systems, 9/e,by Bodnar,lHopwood 2-4 kffiituw$q$q @ 20P€arkn Edu@rd, hc. Pu$PrentHaulA:1r2,,BdaailHopFd W o 20ll Pertuuelih..I'ubhsdsPE.heII.-rt1ll..Bd..r'HorRd ffi . Transactions may be processed without human intervention or approval. . This eliminates conventional controls associated with separation of duties in transactions. fiL<t-r:{+ Extensive control and audit trails may be implemented in quick-response manufacturing systems. o These features may be included within the design and development of the system. . Systems development is critical in quick-response manufacturing systems. o20J P.arDducaliln.. I'ubasPrcntHal4J, 1/bBodn.r/Hopwd & "{eg ,i&oi1e' 01ag {gi,rfv*-'-*tr' neu.}. l}*"*- irlLcrnqi (c 4.irBS.f C:tu8tt frni i5 @ 2004 Prentice Hall Business Publishing, Accounting Information Systems, 9/e,by Bodnar/Hopwood 2-5


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