Define flowcharts - documenting the accounting system, Financial Management

Flowcharts - Documenting the accounting system

Depict in outline the sequence of events in a system showing document flow and department or function responsible for every event.

Advantages:-

Easier to read and understand for larger more complex systems
Highlight key features and controls
Standerdized
Easy to update and little narrative

Disadvantages:-

Requires formal training to understand notation used
time consuming to prepare
may missout crucial detail because of little supporting narrative

 

Posted Date: 9/3/2013 4:07:12 AM | Location : United States







Related Discussions:- Define flowcharts - documenting the accounting system, Assignment Help, Ask Question on Define flowcharts - documenting the accounting system, Get Answer, Expert's Help, Define flowcharts - documenting the accounting system Discussions

Write discussion on Define flowcharts - documenting the accounting system
Your posts are moderated
Related Questions
Nortel is considering the purchase of a new  call routing system.  The system will cost $50M to purchase, an additional $7M to install, and will last for 30 years.  The CCA rate as

Hedge Funds: Hedge Funds are investment partnerships that strive for above average returns through active portfolio management and whose primary compensation is a percentage of

Evaluation: Once all the possible events are identified, the next step in the risk management process is to evaluate the events. As stated previously, the evaluation process wo

Which type of insurance company generally takes on the greater risks: a life insurance company or a property and casualty insurance company? The risks protected against by cas

Critical investment decisions may be taken based on the ratings offered by the credit rating agency. In order to ensure that the rating leads to good investment d

Chu Chu Train Systems is expected to pay a $3.25 annual dividend (D1 = $3.25), the dividend is expected to grow at a constant rate of 5.50% a year, and the common stock currently s

Full, Fair and Adequate Disclosure The architecture of business has evolved from proprietorship to partnership to joint stock companies or publicly held companies. Except fro

What is the difference among pro forma financial statements and a cash budget?  Explain why pro forma financial statements are not employed to forecast cash needs. Pro forma inco


You must analyze how the company is financed through equity and debt financing. You will discuss the level of leverage and how it compares to similar companies in the Industry.