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Resources, events, agents (REA) is a model of how an accounting system can be re-engineered for the computer age.REA was originally proposed in 1982 by William E. McCarthy as a generalized accounting model, [1] and contained the concepts of resources, events and agents (McCarthy 1982).
The terminator is an external entity that communicates with the system and stands outside of the system. It can be, for example, various organizations (e.g. a bank), groups of people (e.g. customers), authorities (e.g. a tax office) or a department (e.g. a human-resources department) of the same organization, which does not belong to the model ...
The P2P systems enable the integration of the purchasing department with the accounts payable (AP) department. Some of the largest players of the software industry agree on a common definition of procure-to-pay, linking the procurement process and financial department. The steps usually included are: Supply management
For example, consider the accounts payable department when processing an invoice. With an accounting information system, an accounts payable clerk enters the invoice, provided by a vendor, into the system where it is then stored in the database. When goods from the vendor are received, a receipt is created and also entered into the AIS.
For example, the accounts payable amount of $500 for a tool purchase belongs on the liabilities side of the balance sheet. But the value of the tool itself belongs on the assets side of the ...
Flowchart is a primary type of business process mapping. It consists of some symbols such as arrows, circles, diamonds, boxes, ovals, or rectangles. The type of Flowchart just described is sometimes referred to as a "detailed" flowchart because it includes in detail, the inputs, activities, decision points, and outputs of any process.
Any drawing program can be used to create flowchart diagrams, but these will have no underlying data model to share data with databases or other programs such as project management systems or spreadsheet. Many software packages exist that can create flowcharts automatically, either directly from a programming language source code, or from a ...
Accounts payable personnel must watch for fraudulent invoices. In the absence of a purchase order system, the first line of defense is the approving manager. However, AP staff should become familiar with a few common problems, such as " Yellow Pages " ripoffs in which fraudulent operators offer to place an advertisement.