Budget execution 101 fort belvoir, va 703-805-3007 [email protected] may 2014 2 aoa life cycle cost ice the established rule is that the expenditure. The expenditure cycle follows a purchase from the decision to buy through the final payment shoppers use the expenditure cycle every time they make a purchase: they. Study 19 expenditure cycle: what could go wrong flashcards from jessica m on studyblue. Expenditure cycle and cash disbursement systems part ii cash disbursement system part i expenditure cycle weaknesses and recommendation weakness the account payable. Chapter 13 acquire goods and services pay for goods and services spring 2002 if the expenditure cycle fails inventory is under-stocked inventory is over-stocked. Overview accounting for expenditures is a key activity in any organization governmental entities have increased requirements relating to the expenditure cycle due to budgetary reporting. Answer to system documentation— expenditure cycle (manual procedures) the following describes the expenditure cycle manual.
Learning outcomes describe and discuss the business activities that related to data processing operations that performed in the expenditure cycle and identify the. The purpose of this chapter is to understand the operation of a typical expenditure cycle and to identify those controls that are needed in this cycle. Learning objectives after studying this chapter, you should be able to: explain the basic business activities and related information processing operations performed. The expenditure cycle is a sequence of processes that occur for a business to go from saying i need this in order to make whatever it is our company makes to paying for what they needed. The expenditure cycle learning objectives to learn the expenditure cycle business activities to learn how to flow chart the expenditure cycle business activities. Chapter 14—auditing the revenue cycle ics in sales are designed to achieve these seven objectives: 1—recorded transactions are valid 2—transactions are properly.
Learning objectives explain the basic business activities and related information processing operations performed in the expenditure cycle discuss the key decisions. Definition an expenditure cycle is a set of purchasing decisions and actions it's the repetitive process of creating purchase orders and ordering goods and services. I am going to describe the testing for control over the expenditure cycle the expenditure cycle starts with the purchase requisition the department in need of the service or assets sends a. Generic business process (1) expenditure cycle & revenue cycle topik bahasan in the expenditure cycle 2 discuss the key decisions that need to be.
The expenditure cycle may be divided into five categories of transactions used by most governmental funds these catergories are pre-encumbrances. The expenditure cycle is a repetitive process that follows a business or consumer purchase from its starting point through payment while the expenditure cycle for a.
Accounting information systems presentation detailing the expenditure cycle for rcjc chic shoe boutique located in new york city. Principles of auditing: professor liburd lecture 13 acquisition & expenditure cycle 4/16/14 please visit our website at time stamps. Study ch10: expenditure cycle tests of controls and substantive tests notes from jennafer m.
Expenditure cycle - download as pdf file (pdf), text file (txt) or view presentation slides online expenditure cycle. You specify an expenditure cycle start day to indicate the day your seven-day expenditure week begins if you specify monday as the expenditure cycle start day, the. Chapter 5 the expenditure cycle part i: purchases and cash disbursementsprocedures t he objective of the expenditure cycle is to convert the organization’s cash. Start studying expenditure cycle learn vocabulary, terms, and more with flashcards, games, and other study tools.