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Rais11_ch11

Rais11_ch11

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Published by Umar Muktar Isduri

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Published by: Umar Muktar Isduri on Nov 11, 2010
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12/26/2013

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 © 2008 Prentice Hall Business Publishing Accounting Information Systems, 11/e Romney/Steinbart
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C
HAPTER 11The Expenditure Cycle:Purchasing to CashDisbursements
 
 © 2008 Prentice Hall Business Publishing Accounting Information Systems, 11/e Romney/Steinbart
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INTRODUCTION
Questions to be addressed in this chapteinclude:
 ±What are the basic business activities anddata processing operations that areperformed in the expenditure cycle? ±What decisions need to be made in theexpenditure cycle, and what information isneeded to make these decisions? ±What are the major threats in the expenditurecycle and the controls related to thosethreats?
 
 © 2008 Prentice Hall Business Publishing Accounting Information Systems, 11/e Romney/Steinbart
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INTRODUCTION
The primary external exchange of information is withsuppliers (vendors).Information flows to the expenditure cycle from other cycles, e.g.:
 ±The revenue cycle, production cycle, inventory control, andvarious departments provide information about the need topurchase goods and materials.
Information also flows from the expenditure cycle:
 ±When the goods and materials arrive, the expenditurecycle provides information about their receipt to the partiesthat have requested them. ±Information is provided to the general ledger and reportingfunction for internal and external financial reporting.

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