Managerial Accounting

Provides BUSINESS INTELLIGENCE to internal users to execute strategy and manage business processes.

Provides structured FINANCIAL REPORTING INFORMATION for investors, creditors and other interested parties to understand the financial results of the business.

A series of activities to achieve a goal

How we record, maintain and report information to manage and evaluate the business process and create financial reporting information

Capture TRANSACTION DATA about each business event as they occur

Maintenance Processes

are accounting processes that add, update and delete MASTER DATA about resources and agents involved in transactions

includes balances for items, and customer data

They show the data and accounting processes that impact that data

show relationships between processes, and between processes and data stores

Represent Individual accounting processes

show the data that is impacted by the processes

Reporting combines Master and transaction data.

Sell goods and services and collect cash

Purchase and pay for inventory and other resources needed by the business

Fixed Asset Management

Acquire and manage fixed assets

Make goods to sell to customers

Acquire and repay loans; sell and repay bonds; issue stock and pay dividends; manage cash and other investments

What is the difference between the Manufacturing and Project Management processes?

The nature of the output (service vs tangible)

Customers, Inventory items, services

Expenditure master data

Vendors, inventory items, fixed assets, supplies

Manufacturing master data

RM Inventory WIP inventory FG inventory

Financing master data

Bond holders, banks, stockholders.

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AIS - Exam 1

What is AIS?

Term	Definition
Managerial Accounting	Provides BUSINESS INTELLIGENCE to internal users to execute strategy and manage business processes.
Financial Accounting	Provides structured FINANCIAL REPORTING INFORMATION for investors, creditors and other interested parties to understand the financial results of the business.
Process	A series of activities to achieve a goal
Business process	What the business does
Accounting process	How we record, maintain and report information to manage and evaluate the business process and create financial reporting information
Business processes are ______. They are how the business achieves strategic advantage.	paramount
Recording processes	Capture TRANSACTION DATA about each business event as they occur
Maintenance Processes	are accounting processes that add, update and delete MASTER DATA about resources and agents involved in transactions
Master Data	includes balances for items, and customer data
Data Flow diagrams	They show the data and accounting processes that impact that data
Arrows	show relationships between processes, and between processes and data stores
Circles	Represent Individual accounting processes
Data Stores	show the data that is impacted by the processes
Reporting processes	Reporting combines Master and transaction data.
Revenue	Sell goods and services and collect cash
Expenditure	Purchase and pay for inventory and other resources needed by the business
Fixed Asset Management	Acquire and manage fixed assets
Human Resources mangagement	Hire, manage and pay employees
Manufacturing	Make goods to sell to customers
Project management	create services for customers
Financing	Acquire and repay loans; sell and repay bonds; issue stock and pay dividends; manage cash and other investments
What is the difference between the Manufacturing and Project Management processes?	The nature of the output (service vs tangible)
Revenue Master data	Customers, Inventory items, services
Expenditure master data	Vendors, inventory items, fixed assets, supplies
Fixed Asset master data	Fixed assets
HR master data	employees
Manufacturing master data	RM Inventory WIP inventory FG inventory
Project management master data	services
Financing master data	Bond holders, banks, stockholders.

Created by: sekavecr

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