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WELCOME EVERYBODY TO THE PRESENTATION

WELCOME EVERYBODY TO THE PRESENTATION. www.AssignmentPoint.com. ACCOUNTING INFORMATION SYSTEM OF KEYA COSMETICS LIMITED. Generally In KEYA Cosmetics has the following (AIS) business process -- Revenue process Expenditure Process Conversion Process Administrative process.

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WELCOME EVERYBODY TO THE PRESENTATION

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  1. WELCOME EVERYBODY TO THE PRESENTATION www.AssignmentPoint.com www.AssignmentPoint.com

  2. ACCOUNTING INFORMATION SYSTEM • OF • KEYA COSMETICS LIMITED www.AssignmentPoint.com

  3. Generally In KEYA Cosmetics has the following (AIS) business process --Revenue processExpenditure ProcessConversion ProcessAdministrative process www.AssignmentPoint.com

  4. THE REVENUE PROCESSOF KEYA COSMETICS COMPANY LIMITED www.AssignmentPoint.com

  5. Major Processes in the Sales & Collections Cycle of Keya Cosmetics • Sale of goods and services (Revenue) • Payments received for goods and services (Collection) • Goods returned by and claims received from customers (Returns) www.AssignmentPoint.com

  6. Some Goods of KEYA cosmetics www.AssignmentPoint.com

  7. Steps in the Revenue Process • Receiving customer orders • Authorizing credit terms and shipment • Confirming orders • Executing orders • Recording the shipments or services performed www.AssignmentPoint.com

  8. Steps in the Revenue Process (Cont.) • Receiving customer orders • Computer controls: • Customer checks • Valid customer number • Self-check algorithm • Field checks • Key characteristics • Completeness of required fields • Reasonableness checks • Order quantities • Product combinations • Clear procedures for resolving computer red flags • Periodic reports on Open Orders www.AssignmentPoint.com

  9. www.AssignmentPoint.com

  10. Steps in the Revenue Process (Cont.) • Authorizing credit terms and shipment • Computer controls • Credit check for repeat customers • Inventory availability • Credit review for new customers • Credit worthiness • Existence • Separation of Credit & Sales Departments • When approved a Sales Order is produced • Prenumbered and controlled www.AssignmentPoint.com

  11. Steps in the Revenue Process (Cont.) • Confirming orders • Customer verification of sales order accuracy • Items • Quantities • Price • Confirm shipping date www.AssignmentPoint.com

  12. Steps in the Revenue Process (Cont.) • Executing orders • Assembling goods for shipment • Picking list (sales order) • Verify items picked and update inventory • Move items to shipping dock • Ship ordered goods • Packing slip (sales order) • Verify items packed (agree picking & sales order) • Shipping report and bill of lading • Prenumbered and controlled • Periodic reports on Open Shipments • Separation of Warehousing & Shipping www.AssignmentPoint.com

  13. Ship Ordered Goods www.AssignmentPoint.com

  14. Steps in the Revenue Process (Cont.) • Bill the customer and record the sale • Agree information on and existence of customer order, sales order, and shipping report. • Prepare a Sales Invoice • Prenumbered and controlled • Computer controls • Send sales invoice to customer • Investigation of missing or repeated document numbers www.AssignmentPoint.com

  15. www.AssignmentPoint.com

  16. Expenditure Processes of Keya Cosmetics www.AssignmentPoint.com

  17. Purchasing Processes www.AssignmentPoint.com

  18. Receive Purchase Requisition www.AssignmentPoint.com

  19. KEYA COSMETICS Department- • Purchase Requisition Date-23.12.2011 Requisition no- www.AssignmentPoint.com

  20. Keya Cosmetics Making Decision No NEED Yes www.AssignmentPoint.com

  21. KEYA COSMETIC Select Vendor C B D www.AssignmentPoint.com

  22. Keya Cosmetics Purchase Order Date-23.12.2011 To B Company Order No- www.AssignmentPoint.com

  23. KEYA COSMETICS Receive And Inspect Goods www.AssignmentPoint.com

  24. KEYA COSMETICS After Receiving Goods Get The Invoice and Do Match- If Match then Updates Accounts payables Record- If Not Then reconcile Vendor- Accounts Payable www.AssignmentPoint.com

  25. KEYA COSMETICS Update Inventory Record www.AssignmentPoint.com

  26. KEYA COSMETICS Update General Ledger Accounts Payable www.AssignmentPoint.com

  27. KEYA COSMETICS Update General Ledger Purchase www.AssignmentPoint.com

  28. KEYA COSMETICS Purchase Returns Processes • Reasons for Returns: • ►Goods received are unacceptable: • ►Quantity or quality discrepancies • ►Damage or defects • ►Errors in the type of goods delivered or ordered • ►Discrepancies in the terms of the purchase • ►Timing issues www.AssignmentPoint.com

  29. KEYA COSMETICS Purchase Returns Processes Rejected Goods-Authorized www.AssignmentPoint.com

  30. KEYA COSMETICS Purchase Returns Processes Match Documents www.AssignmentPoint.com

  31. KEYA COSMETICS Purchase Returns Processes Debit Memo www.AssignmentPoint.com

  32. KEYA COSMETICS Purchase Returns Processes Accounts Payable www.AssignmentPoint.com

  33. KEYA COSMETICS Purchase Returns Processes Return Goods to the Vendor www.AssignmentPoint.com

  34. KEYA COSMETICS Purchase Returns Processes Receive Refund From Vendor www.AssignmentPoint.com

  35. KEYA COSMETICS Purchase Returns Processes Update Inventory Record www.AssignmentPoint.com

  36. KEYA COSMETICS Update General Ledger Accounts Payable www.AssignmentPoint.com

  37. KEYA COSMETICS Update General Ledger Purchase Return www.AssignmentPoint.com

  38. How organizations convert resources into salable products and services Chiefly applicable to manufacturing, but can be applied to service and retail as well Conversion process KEYA Cosmetics • Resources • Direct material • Direct labor • Factory overhead • Systems • Job order • Process • Hybrid www.AssignmentPoint.com

  39. Resources Material: major components of the finished product Labor: salaries, wages and benefits of production personnel Overhead: everything else in the production operation Conversion processof KEYA Cosmetics www.AssignmentPoint.com

  40. Systems • Job order: goods are differentiated; produced “to order” • Process: goods are homogeneous; produced in mass quantities • Hybrid: characteristics of both systems; for example, a standard unit is customized www.AssignmentPoint.com

  41. Documents Materials requisition Production requests raw materials from warehouse Originates in production Terminates in warehouse Conversion process of KEYA Cosmetics • Job cost sheet • Summarizes costs in job costing system • Originates in production • Terminates in accounting • Labor time ticket • Accumulates direct labor data • Originates in production • Terminates in accounting www.AssignmentPoint.com

  42. Conversion process • Job cost sheet • Summarizes costs in job costing system • Originates in production • Terminates in accounting • Labor time ticket • Accumulates direct labor data • Originates in production • Terminates in accounting www.AssignmentPoint.com

  43. Financing process • Common transactions also include: • Long-term debt transactions (issuance and repayment) • Data needed: principal, coupon and market interest rates, term, number of interest payments per year, lender data • Dividend distributions • Data needed: dividend type (cash, stock, property), shareholder identification data, amount of dividend, dates (declaration, record, distribution) www.AssignmentPoint.com

  44. A Partial Organization Chart of a Logistics Function www.AssignmentPoint.com

  45. Three Concepts of Business Logistics of KEYA Cosmetics Systems Concept Total Cost Concept Trade-off Concept www.AssignmentPoint.com

  46. Forms of Data Input • Customer order • Bill of materials • Operations list/Routing slip • Production schedule • Production order • Materials issue slip/Materials requisition • Labor job-time ticket • Move ticket/traveler • Inspection report(s) www.AssignmentPoint.com

  47. The Administrative process of KEYA Cosmetics www.AssignmentPoint.com

  48. Administration Features • On-Screen help is available for most functions. • Easily manage Products, Categories, Options, Customers, Shipping, Locations, Orders and much more. • Upload Product Images and Software Items from your browser to your web server. • Store shipping rates are calculated by order weight and/or price. The amount charged for shipping can be calculated via fixed price or percentage. Ability to assign Free Shipping to an individual product. • Support for UPS, USPS and Canada Post online shipping rates. • Configure sales tax per postal / zip code, municipality, state or country (billing or shipping address). www.AssignmentPoint.com

  49. Administrator KEYA www.AssignmentPoint.com

  50. Product Inventory KEYA www.AssignmentPoint.com

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