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What does it cost to create a purchase order?
Would you believe that the actual cost to issue a purchase order is approximately $75. After you include the following steps: a purchasing agent must: * find the appropriate material, * contact the vendor, * order the material, * reconcile the invoice * and pay the invoice the warehouse must: * receive the material * acknowledge receipt * transfer information to accounting / purchasing for reconciliation If it is an unfamiliar item or if there are significant sourcing efforts involved the cost will rise. If there are electronic ordering and payment steps, the costs may decrease.
What are the steps involved in developing accounting information systems?
The system of collecting and processing transaction data and disseminating financial information to interested parties is known as the accounting information system. It includes each of the steps in the accounting cycle that you have studied in earlier chapters, the documents that provide evidence of the transactions and events, and the records, trial balances, work sheets, and financial statements that result. An accounting information system may be either manual or electronic. To have an efficient and effective accounting information system (hereafter referred to simply as the accounting system), certain basic principles must be followed. These principles are: 1. Cost awareness. The system must be cost effective: the benefits obtained from the information disseminated must outweigh the cost of providing it. For example, the value of each accounting report should be at least equal to the cost of producing it. 2. Useful output. To be useful, information must be understandable, relevant, reliable, timely, and accurate. Designers of accounting systems must consider the needs and knowledge of various users so that the system's output (reports and statements) will be useful to them. For example, sales managers may need weekly reports of sales, and factory supervisors may need daily reports of production. Others with differing responsibilities (such as vice-presidents) may need such reports only monthly or quarterly. 3. Flexibility. The accounting system should be able to accommodate a variety of users and changing information needs. The business environment changes as a result of technological advances, organizational growth, increased competition, government regulation, or changes in accounting principles, when it does, the accounting system should be sufficiently flexible to meet the resulting changes in the demands made upon it. If the accounting system is cost effective, provides useful output, and has the flexibility to meet future needs, it can provide a valuable service and make a major contribution to both individual and organizational goals.
What is the purpose of producing accounting information?
The primary purpose of accounting information is to provide useful information to help people make decisions.Stakeholders of a company are interested in the financial performance of that company, and therefore require accounting information in order to assess the company's well-being.In order for accounting information to be useful, it must be:UnderstandableRelevant/TimelyReliable/VerifiableComparable
How does a creditor know where and what bank account to freeze?
The banks send your information to the major credit reporting agencies. In order to freeze your bank account the creditor must obtain a court order to collect on a debt from you. With that court order they can get your account information from the bank to process the freeze/collection.
What information do I need to have in order to estimate my tax return?
In order to estimate your tax return, you must have your W2 forms from all your employers from the year in question, as well as information from any other income you have received over said year. You can do a simple tax return on the IRS website for free once you have this information.
What is the criteria for effective accounting system?
In order for an accounting system to be considered effective it must meet 3 criteria. It must provide accurate information, have useful information, and be presented in a timely manner.
What caracteristics of an invention must be present for a gene to be patented?
In order for an invention to be patented, it must be cost efficient and effective. If the invention does not work, it cannot be patented.
Name and explain the characters of characteristics of valuable information?
The 7 characteristics of a valuable information include: 1. It must be easily understood.2. It must be comprehensive.3. It must be accurate.4. It must be simple.5. It must be flexible.6. It must be technologically up-to-date.7. It must solve the problem or at least have relevance to it.
What is included in the 150.00 per square foot cost?
Of what? Your question must include more information in order for it to be answered.
How can I find information about the Mexican Train?
In order to find information about the Mexican Train, you must go to their website, www.visitmexico.com. The Mexican Train Fare is quite effective in traveling in Mexico.
What if covenants that affect land are not disclosed?
In order to be effective land covenants must be recorded in the land records. They are disclosed by a title examination performed by a professional.In order to be effective land covenants must be recorded in the land records. They are disclosed by a title examination performed by a professional.In order to be effective land covenants must be recorded in the land records. They are disclosed by a title examination performed by a professional.In order to be effective land covenants must be recorded in the land records. They are disclosed by a title examination performed by a professional.
Are there any oil in Tennessee?
There is oil in tennessee but must or all of it is not cost effective to recover for use
With the cost of shipping, is more or less cost effective to do online shopping?
It depends on how far the item must be shipped, compared to the cost of gas to drive to a retailer. Obviously, having an item shipped to CA from NY would be more cost effective. However, shipping an item from a store three miles away would likely not be cost effective.
In order for data become information it must be?
be processed
In order to be useful a source must have information that is .?
Relevant
In order to be useful a source must have information that?
Relevant
What must citizens do in order for the government to be effective?
Vote in elections (Studyisland answer)
