Advanced Cost Analysis and Systems Assignment Example | Topics and Well Written Essays - 1500 words

Advanced Cost Analysis and Systems - Assignment Example The Advanced Cost Analysis and Systems involves carrying out Business cycles for Apple Inc, which include Revenue--sales process, sales return, cash receipt Expenditure--purchasing, purchase return, cash disbursement Payroll Fixed Assets--Acquisition, dispose Inventory--production Treasury Cycle Finiancial. The payroll cycle begins by the receipt of time cards from the hourly employees. The time cards depict the number of hours worked by the employees in their respective departments. The head of the department either signs the time card for confirmation or does not sign to indicate rejection. The head of department then submits the time card to the payroll manager who then updates the payroll. The company’s CFO then reviews gives approval leading to the processing and posting of the payroll. Once the CFO authorizes the paychecks, the company then prepares adequate cash for disposal, in covering the amount indicated in the payroll. This triggers the preparation of a payroll voucher to act as a record for the total amount indicated in the payroll. After posting the payroll, the checks are then delivered to the employees. This transaction affects the cash department consequently triggering for the preparation of a disbursement journal. The company then reconciles the ledger informa tion. As depicted in the flow chart showing sales process, the first step is a customer placing an order for the company’s products. The company presents the customer with the details of products before the actual transaction starts. As a legal procedure, customer purchase order forms an inherent part of the transactions and must include company name, customer’s name, fabric, quantities, shipping and billing information. The receipt of the purchase order drives the company to approving the order and accompanied credit carried by the customer for the transaction. in the shipping process, the company makes use of a common