Accounts Receivable CycleJoin now to read essay Accounts Receivable CycleAccounts Receivable CycleRiordan Manufacturing, an industry leader in the field of plastic injection molding, has facilities in California, Georgia, Michigan and China. The accounting functions are carried out in each individual location, and consolidated for processing in the corporate offices in California. The Georgia and Michigan locations, being newly acquired, are using systems that are not completely compatible with the corporate offices. This is causing problems on many levels and within this paper, Learning Team A will discuss the accounts receivable cycle as Riordan Manufacturing would like to achieve.
Learning Team A will discuss the strengths and weaknesses of the internal controls of the accounts receivable cycle, the integration of the cycle into enterprise wide accounting information systems and the different types of information systems that will be needed for the integration. Finally, Team A will present a flowchart showing how the accounts receivable information optimally flows through the company.
Strengths and Weaknesses of Internal ControlsInternal control is somewhat broad in nature, but specific enough to protect the company. Some basic accounting controls need to be implemented to assure stockholders that the financial records are accurate. Six control activities are necessary to a company’s internal control system. These activities are a good audit trail, sound personnel policies and practices, separation of duties, physical protection of assets, internal reviews of controls and timely performance reports. If controls are not properly implemented, the company could be vulnerable to theft and inaccuracies.
Two controls that are key factors in any accounting department are separation of duties and processing controls. For example, if the same employee processes payments and processes bank deposits, this violates separation of duty controls and leaves the door open to embezzlement. Processing controls will also help to prevent any dishonesty by requiring certain reports to be printed after batches or days input. These reports will then be audited periodically for discrepancies in entry or computer glitches. If strong internal controls such as these are not implemented, then the growth of the company will suffer and profits are likely to be steadily lost.
Integration into Enterprise-Wide AISEnterprise resource planning systems, or ERP, is one of the new technologies that influenced the accounting information system. ERP systems integrate all data and processes of an organization into one application. A typical ERP system uses multiple components of computer software and hardware to achieve the integration (Wikipedia, 2007). Among other things, ERP software combines the data of formerly separate applications. This has become helpful in the synchronization of multiple systems. It also standardizes and reduces the number of software specialties required within larger organizations, such as Riordan Manufacturing. (Dunn, Cherrington, Hollander, 2004) One of the major reasons companies implement ERP is its capability of integrating financial information.
• Integrated Management Systems, Part 3 • The role of integrated management systems is an important one for large businesses because IT managers have to deal with a lot of different stakeholders. It does not make sense to have many entities with different objectives, which means that business departments and even larger enterprises, who have many stakeholders and many responsibilities to deal with it, can manage many aspects of their IT. A complex approach to this issue, including an integrated organizational management system, provides many benefits with which the IT managers of the biggest organization are trying to overcome the large-scale interagency challenges. The combined IT managers that work within IT areas can have many different roles – for IT professionals, for IT employees, and for IT management. This combination of roles helps reduce the number of IT areas, which can be overwhelmed by multiple IT processes. The interaction of all the three-stage management software and its associated applications improves a business’ IT performance and efficiency. A large IT system can reduce the size and complexity of work hours for many IT employees. Many IT managers in a larger organization don’t realize that this has been the case. With these benefits, organizations can now be able to manage their IT systems in multi-level and multi-layered ways as well as to automate operations by large organizations, which means they can reduce the task-oriented tasks of workers. It also reduces the time required to deal with a specific problem. However, this allows the IT managers of different departments to coordinate all the information related to IT tasks and to work with small companies asynchronously. In this way, this enables their IT teams to reduce the time they take to deal with other problems. • Integrated Customer Services Systems • An integrated customer management system was developed by some of the top executives. This solution is especially important since it solves a problem on its own. But it also supports IT and other stakeholders even in this organization. The software is designed and built using traditional operating system (OS) code and tools (e.g., Apache, Symfony 5). According to the most recent report on the process which is available: the OS provides customers with tools and procedures (e.g., the tools that help them install the required tools and add them to their software packages), which helps them to build and maintain systems of their choice. The OS is optimized for use in large and growing corporations. (Fowler, 2007) The OS also gives a tool set to help organizations quickly create and improve IT processes, including systems management tools, IT systems management tools, automated operations, and other IT software. Also included in the OS are procedures and other tools to help IT managers to accomplish things with greater effectiveness. The OS may be a simple way to simplify and manage a business’ processes, or it may be used in the context of other features and services that are being installed within or for a business’ IT systems. The OS is able to help large and growing companies to manage and deliver product and mission information better. In addition, the OS enables the IT managers to build new features that enable their IT process teams to respond to new problems quickly and effectively, with greater agility and efficiency. An integrated customer management system might be the solution for many businesses because it allows them to provide a service to their customers as well as service to the other customers as
The ERP system represents a new technology. It is becoming more than a technology for information gathering. ERP systems should be able to deliver a level of efficiency that has been achieved by the earlier organizations they have in operation. Such systems are now necessary for more effective decision-making based upon information in public (Elliott, 2006).
The problem is the management of information that is being transmitted across these networks in the most technical (and cost effective) ways, as shown by its “transferring” function. This could have huge impacts on data flows from one agency to another, which could involve different or more significant business decisions. Since ERP has only been used by large organizations, it has become even more important than just dealing with a problem in a centralized (and non-sustainable) data set.
Elliott, 2006. “A System of Systems Integration for the Development and Analysis of Exchange Service, a New Management Method for Information Gathering Using a Single System.” This is a summary of a paper he had published last year that discusses the use of multiple ERP systems to gather information about companies. (Riley, Kopplin, & Bost, 2001).
I have written about this topic elsewhere. This is the first post addressing data gathered by ERP or similar data gathering technology in relation to Exchange Service (EOS). The current ERP, as described here, is the latest and greatest in the entire series of technologies. There may be a lot happening on both of the top platforms for EOS, both online and offline.
The present study, however, is unique in this respect because of the fact that it shows that ERP might actually cause business to not be able to manage the data collected from its own database with the help of ERP. While there was some research about the potential for loss of Exchange Service data without using software and hardware, my research shows that when ERP is used, the Exchange Service may be lost and that Exchange Service data loss is not a problem.
It has been the practice of many organizations to use ERP systems as a backup source because most need only backup of data to their business models of data management. This system may have a long and costly process in the database where a customer or other source of data may be lost, if an Exchange Data Center has been established in the process of retrieving the data from an Exchange Data Center. These operations are called “transponders”. One of the main things with ERP is that it will create a trust of information related to the data stored in the Exchange Service’s database. Although, I believe that many EOs can be successfully developed using ERP, this process can vary according to the requirements of the organization or the situation at the time of acquiring the data. Since most Data Center installations need to store data that is not part of a specific Exchange Service, this can result in problems that require an Exchange Data Center installation. This can also cause a loss of data on the Exchange Service.
For an ERP system to work correctly, the first step is how to generate any records that it can produce from Exchange and then integrate ERP with it, from that data. This is a process that I have been working on recently
The ERP system represents a new technology. It is becoming more than a technology for information gathering. ERP systems should be able to deliver a level of efficiency that has been achieved by the earlier organizations they have in operation. Such systems are now necessary for more effective decision-making based upon information in public (Elliott, 2006).
The problem is the management of information that is being transmitted across these networks in the most technical (and cost effective) ways, as shown by its “transferring” function. This could have huge impacts on data flows from one agency to another, which could involve different or more significant business decisions. Since ERP has only been used by large organizations, it has become even more important than just dealing with a problem in a centralized (and non-sustainable) data set.
Elliott, 2006. “A System of Systems Integration for the Development and Analysis of Exchange Service, a New Management Method for Information Gathering Using a Single System.” This is a summary of a paper he had published last year that discusses the use of multiple ERP systems to gather information about companies. (Riley, Kopplin, & Bost, 2001).
I have written about this topic elsewhere. This is the first post addressing data gathered by ERP or similar data gathering technology in relation to Exchange Service (EOS). The current ERP, as described here, is the latest and greatest in the entire series of technologies. There may be a lot happening on both of the top platforms for EOS, both online and offline.
The present study, however, is unique in this respect because of the fact that it shows that ERP might actually cause business to not be able to manage the data collected from its own database with the help of ERP. While there was some research about the potential for loss of Exchange Service data without using software and hardware, my research shows that when ERP is used, the Exchange Service may be lost and that Exchange Service data loss is not a problem.
It has been the practice of many organizations to use ERP systems as a backup source because most need only backup of data to their business models of data management. This system may have a long and costly process in the database where a customer or other source of data may be lost, if an Exchange Data Center has been established in the process of retrieving the data from an Exchange Data Center. These operations are called “transponders”. One of the main things with ERP is that it will create a trust of information related to the data stored in the Exchange Service’s database. Although, I believe that many EOs can be successfully developed using ERP, this process can vary according to the requirements of the organization or the situation at the time of acquiring the data. Since most Data Center installations need to store data that is not part of a specific Exchange Service, this can result in problems that require an Exchange Data Center installation. This can also cause a loss of data on the Exchange Service.
For an ERP system to work correctly, the first step is how to generate any records that it can produce from Exchange and then integrate ERP with it, from that data. This is a process that I have been working on recently
The ERP system represents a new technology. It is becoming more than a technology for information gathering. ERP systems should be able to deliver a level of efficiency that has been achieved by the earlier organizations they have in operation. Such systems are now necessary for more effective decision-making based upon information in public (Elliott, 2006).
The problem is the management of information that is being transmitted across these networks in the most technical (and cost effective) ways, as shown by its “transferring” function. This could have huge impacts on data flows from one agency to another, which could involve different or more significant business decisions. Since ERP has only been used by large organizations, it has become even more important than just dealing with a problem in a centralized (and non-sustainable) data set.
Elliott, 2006. “A System of Systems Integration for the Development and Analysis of Exchange Service, a New Management Method for Information Gathering Using a Single System.” This is a summary of a paper he had published last year that discusses the use of multiple ERP systems to gather information about companies. (Riley, Kopplin, & Bost, 2001).
I have written about this topic elsewhere. This is the first post addressing data gathered by ERP or similar data gathering technology in relation to Exchange Service (EOS). The current ERP, as described here, is the latest and greatest in the entire series of technologies. There may be a lot happening on both of the top platforms for EOS, both online and offline.
The present study, however, is unique in this respect because of the fact that it shows that ERP might actually cause business to not be able to manage the data collected from its own database with the help of ERP. While there was some research about the potential for loss of Exchange Service data without using software and hardware, my research shows that when ERP is used, the Exchange Service may be lost and that Exchange Service data loss is not a problem.
It has been the practice of many organizations to use ERP systems as a backup source because most need only backup of data to their business models of data management. This system may have a long and costly process in the database where a customer or other source of data may be lost, if an Exchange Data Center has been established in the process of retrieving the data from an Exchange Data Center. These operations are called “transponders”. One of the main things with ERP is that it will create a trust of information related to the data stored in the Exchange Service’s database. Although, I believe that many EOs can be successfully developed using ERP, this process can vary according to the requirements of the organization or the situation at the time of acquiring the data. Since most Data Center installations need to store data that is not part of a specific Exchange Service, this can result in problems that require an Exchange Data Center installation. This can also cause a loss of data on the Exchange Service.
For an ERP system to work correctly, the first step is how to generate any records that it can produce from Exchange and then integrate ERP with it, from that data. This is a process that I have been working on recently
The ERP system represents a new technology. It is becoming more than a technology for information gathering. ERP systems should be able to deliver a level of efficiency that has been achieved by the earlier organizations they have in operation. Such systems are now necessary for more effective decision-making based upon information in public (Elliott, 2006).
The problem is the management of information that is being transmitted across these networks in the most technical (and cost effective) ways, as shown by its “transferring” function. This could have huge impacts on data flows from one agency to another, which could involve different or more significant business decisions. Since ERP has only been used by large organizations, it has become even more important than just dealing with a problem in a centralized (and non-sustainable) data set.
Elliott, 2006. “A System of Systems Integration for the Development and Analysis of Exchange Service, a New Management Method for Information Gathering Using a Single System.” This is a summary of a paper he had published last year that discusses the use of multiple ERP systems to gather information about companies. (Riley, Kopplin, & Bost, 2001).
I have written about this topic elsewhere. This is the first post addressing data gathered by ERP or similar data gathering technology in relation to Exchange Service (EOS). The current ERP, as described here, is the latest and greatest in the entire series of technologies. There may be a lot happening on both of the top platforms for EOS, both online and offline.
The present study, however, is unique in this respect because of the fact that it shows that ERP might actually cause business to not be able to manage the data collected from its own database with the help of ERP. While there was some research about the potential for loss of Exchange Service data without using software and hardware, my research shows that when ERP is used, the Exchange Service may be lost and that Exchange Service data loss is not a problem.
It has been the practice of many organizations to use ERP systems as a backup source because most need only backup of data to their business models of data management. This system may have a long and costly process in the database where a customer or other source of data may be lost, if an Exchange Data Center has been established in the process of retrieving the data from an Exchange Data Center. These operations are called “transponders”. One of the main things with ERP is that it will create a trust of information related to the data stored in the Exchange Service’s database. Although, I believe that many EOs can be successfully developed using ERP, this process can vary according to the requirements of the organization or the situation at the time of acquiring the data. Since most Data Center installations need to store data that is not part of a specific Exchange Service, this can result in problems that require an Exchange Data Center installation. This can also cause a loss of data on the Exchange Service.
For an ERP system to work correctly, the first step is how to generate any records that it can produce from Exchange and then integrate ERP with it, from that data. This is a process that I have been working on recently
The ERP system represents a new technology. It is becoming more than a technology for information gathering. ERP systems should be able to deliver a level of efficiency that has been achieved by the earlier organizations they have in operation. Such systems are now necessary for more effective decision-making based upon information in public (Elliott, 2006).
The problem is the management of information that is being transmitted across these networks in the most technical (and cost effective) ways, as shown by its “transferring” function. This could have huge impacts on data flows from one agency to another, which could involve different or more significant business decisions. Since ERP has only been used by large organizations, it has become even more important than just dealing with a problem in a centralized (and non-sustainable) data set.
Elliott, 2006. “A System of Systems Integration for the Development and Analysis of Exchange Service, a New Management Method for Information Gathering Using a Single System.” This is a summary of a paper he had published last year that discusses the use of multiple ERP systems to gather information about companies. (Riley, Kopplin, & Bost, 2001).
I have written about this topic elsewhere. This is the first post addressing data gathered by ERP or similar data gathering technology in relation to Exchange Service (EOS). The current ERP, as described here, is the latest and greatest in the entire series of technologies. There may be a lot happening on both of the top platforms for EOS, both online and offline.
The present study, however, is unique in this respect because of the fact that it shows that ERP might actually cause business to not be able to manage the data collected from its own database with the help of ERP. While there was some research about the potential for loss of Exchange Service data without using software and hardware, my research shows that when ERP is used, the Exchange Service may be lost and that Exchange Service data loss is not a problem.
It has been the practice of many organizations to use ERP systems as a backup source because most need only backup of data to their business models of data management. This system may have a long and costly process in the database where a customer or other source of data may be lost, if an Exchange Data Center has been established in the process of retrieving the data from an Exchange Data Center. These operations are called “transponders”. One of the main things with ERP is that it will create a trust of information related to the data stored in the Exchange Service’s database. Although, I believe that many EOs can be successfully developed using ERP, this process can vary according to the requirements of the organization or the situation at the time of acquiring the data. Since most Data Center installations need to store data that is not part of a specific Exchange Service, this can result in problems that require an Exchange Data Center installation. This can also cause a loss of data on the Exchange Service.
For an ERP system to work correctly, the first step is how to generate any records that it can produce from Exchange and then integrate ERP with it, from that data. This is a process that I have been working on recently
The corporate headquarters in California already has a license for a fully integrated Windows based ERP manufacturing, distribution and financial management software application. Being the main operating entity among the Georgia and Michigan locations, the ERP system can help finance and accounting departments consolidate all transactions, such as input from accounts receivable. Incorporating the accounts receivable cycle processes into an enterprise-wide accounting information system depends on the goal of the system integration. But given that all financial transactions provided to Riordan’s corporate offices in California are usually consolidated, the integration may be achieved at a high level by creating some sort of shell reporting model and requiring each system to report its results in compliance with that particular shell (Dunn, et al, 2004). Each piece of the accounts receivable transaction should be submitted in the shell format so the pieces can be easily combined. Having this kind of format, all accounts receivable input from the different entities will be seamlessly