Test Bank for Accounting Information Systems 14th Edition Marshall B. Romney, Paul J. Steinbart.
Test Bank for Accounting Information Systems 15th Edition Marshall B. Romney, Paul J. Steinbart
Accounting Information Systems - Chapter 12 The Revenue Cycles: Sales to Cash collections - Summary
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Accounting Information Systems
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Accounting Information Systems (AIS)
Cash Collection process:
I. Process customer payment and update their account balance
• Remittance
II. Deposit payments to the bank
CASH COLLECTION PROCESS
Chapter 13 The expenditure cycle: purchasing to cash disbursements
The expenditure cycle is a recurring set of business activities and related information processing
operations associated with the purchase of and payment for goods and services.
The basic expenditure cycle activities are:
- Order materials, supplies, and services
- Receive materials, supplies, and services
- Approve supplier (vendor) invoice
GENERAL THREATS AND CONTROLS
Page 23 of 25
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