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
give me your email then i will send it to you

Sega Inc. expects earnings/dividends to grow at an annual rate of 30 percent for the next 4 years. After that they feel that the market will get saturated and the growth rate will

The United States of America issues US Treasuries, which are negotiable government debt obligations. They are popular because they are backed by the full

a-ii, should i calculate the co-variance of the 30 securities?

Part 1: Contingency plan Create contingency plans for the following scenarios: > One of your highly qualified consultants has given three months notice and is planning to move to a

Question: A 10-year deferred life assurance policy with variable benefits is issued to a select life aged 36. The policy provides the following benefits:- Sum assured is

Question: (a) What is a computer virus? List and explain the different type of computer viruses? (b) List 4 steps which you can use to minimize the chances of being infec

The NPV decision rule needs that a company invest in all projects that have a positive net present value. This presumes that sufficient funds are available for all incremental proj

Under what circumstances would market to book value ratios be misleading?  Explain. The Market to Book ratio is helpful, but it is just only a rough approximation of how liquid

Q. Reinforced concrete design? In BS8110 for reinforced concrete design, it is stated that longer tension lap lengths have to be provided at the top of concrete members. The mo