Business Information Systems Dersi 6. Ünite Sorularla Öğrenelim

At least four copies of the order is prepared during the event of ''Preparing Purchase Orders''.What are each of them for ?

one copy is sent to the vendor,

one copy for the accounting process,

one copy for the warehouse for receiving the materials, and

the last copy is for the purchasing department’s files.

What are the purposes of payroll processing system?

The purposes of payroll processing system are to calculate the pay due employees, and to maintain cumulative earnings records.

What is '' accounting ''?

Accounting is an information system that collects, records, classifies, and summarizes financial transactions of a business according to generally accepted accounting principles and analyses and reports them to the information users.

What is the difference between ''accounting information system'' and ''finance information system''?

Accounting information system deals with financial transactions which affect the assets, liabilities and owners’ equity of a business and preparing financial statements and reports related to the business where finance information system deals with funding the assets, finding appropriate resources for the assets.

The business information systems which are inseperable part of the business, add new roles to accountants’ existing roles.New roles like designer, user and auditor are becoming standard roles of accountants about business information systems (Gelinas, Dull., 2008). What are the designer's roles?

• which transaction is recorded? (what is the recordable transaction?)
• how is the transaction recorded? (which data are collected and from where to be collected?)
• when is the transaction recorded? (before or after the occurance? )
• which controls are necessary as for the reports to be exact, valid and accurate and for the assets to
be protected, for the audit to be processed?
• which reports will produced and when?
• in which details are the reports be produced?

The purchasing process involves some set of events. What are these events ?

• Analysing inventories
• Preparing purchase orders
• Receiving goods
• Making the payments
• Purchase returns and allowances
• Preparing reports

What does ''invoice'' show?

It shows the parties(buyer and seller) involved in the transaction.

It shows the date of the transaction.

It shows the subject(for example the company sold laptop computers) of the transaction.

It shows the amount(for example, 15 laptop computers) of the transaction

It shows the amount(15x3.000T=45.000T + VAT) of the transaction.

What does preparation of the bill show?

Preparation of the bill shows a sale transaction has occured.

Eventhough the payroll processing system is examined under expenditure
cycle, the nature of the payroll processing system makes it to be processed separately. Why does this happen?

This happens because of two reasons(Boockholdt, 1999, p.689):

• Payroll processing systemwithhold amounts for deductions and taxes and summarize these in cumulative earning reports. These withholding and reportings are unnecessary when processing purchases transactions in expenditure cycle.

• Payroll processing system produces payrolls for the employees. Establishing a separate system for payrolls allows greater control over these transactions.

What are  the common events that take place in revenue cycle ?

The common events that take place in revenue cycle are:

• Receiving customer order
• Analysing the credit approval for the
customer
• Viewing inventories
• Accepting order
• Preparing products for shipment
• Billing
• Recording and monitoring receivables
• Collecting cash
• Sales allowances and sales returns
• Preparing reports

What do receivables occur for ?

Receivables occur for credit sales.

What is ''invoice''?

Invoice is a document that indicates a sales transaction has been made.

What is the main objective of a business ?

The main objective of a business is to sell products/services to the customers and make profit from the sales activity.

What is the function of accounting information system?

Accounting information system collects financial data from the operations of the business, processes the collected data and tranforms them into financial information, and produces reports for the decision makers.  

Basicly, accounting information system is the same for all the businesses
in the manner of input-process-output flow. What are the differences?

The differences are the hardware and software used in the system and the way of doing the transactions (Sürmeli, 2009).

What do the fixed asset system deal with?

Fixed asset system deals with the acquisition, maintanence and disposal activities of the fixed assets.

What are the functions of finance information system?

1.Capital Budgeting

2.Cash Management

3.Credit Management

4.Financial Analysis

5.Financial Forecasts

6.Profit Planning

What are the opening transactions that are made for accounting in a fiscal year?

• Preparing opening balance sheet
• Recording opening journal entry based on opening balance sheet
• Posting opening journal entry to general ledger

Accounting information system composed of three major subsystems.What are they?

Accounting information system is composed of three major subsystems:

The transaction processing system,

The general ledger/financial reporting system, and

The management reporting system(Hall:, 2008)

What are the motivations for holding cash on hand?

• To meet its day-to-day needs
• To compensate for the uncertainty associated with its cash flows and
• To satisfy bank requirements.