Identify potential users of accounting information

Assignment Help Cost Accounting

Reference no: EM133748564

Accounting for Business Decisions

Purpose of the assessment

This assignment aims to provide students with an understanding of the fundamentals of the procurement and fulfilment processes, how SAP S/4HANA supports this function, and how the accounting processes supports this function.

Learning Objective 1: Critically evaluate the function of accounting and identify potential users of accounting information and its role in the business decision making process. (ULO 1)

Learning Objective 2: Research, assess and apply the principles of accounting in recording business transactions in the accounting cycle and the role of accounting information systems. (ULO 2)

Learning Objective 3: Apply financial statement analysis techniques and critically evaluate business financial performance. (ULO 5)

Case Study
Procurement Scenario
GBI re-sells a range of bicycles. There is a request for the Deluxe Touring Bike (black). After reviewing the stock, you realise that stock is required, and you are required to start the procurement process. The Deluxe Touring Bike (black) is purchased from the vendor; Olympic Protective Gear. This vendor is already created in the system. You create a purchase order for the Deluxe Touring Bike (black), which is forwarded to the vendor. The goods arrive, and you will create a goods receipt and verify the physical receipt in stock. An invoice will arrive, which will need to be entered into the system. Payments will be posted to the vendor, and you will review the impact the purchase has on General Ledger.

Your task is to complete the procurement process from a specified scenario and produces several screenshots to verify the completion of the process. The screenshots are to be inserted (pasted) in the specified areas below. If you are unsure how to take a screenshot, please refer to Google.

Procurement 1. Insert a screenshot of your Purchase Order
2. Insert a screenshot of your Process Flow
3. Insert a screenshot of your Post Outgoing Payments

Fulfilment Scenario
GBI re-sells a range of bicycles. The company have had an Inquiry from an existing customer (The Bike Zone ###) for 4 Deluxe Touring Bike (Black). As indicated, the customer is already in the system. Once you create the Inquiry, the customer has requested a formal Quotation. The customer receives the quotation and sends GBI a Purchase Order which is entered into the system as a Sales Order. As there is enough stock, you will complete the Delivery process. An Invoice will be created, and sent to the customer, and then GBI will receive Payment from the Customer.

4. Insert a screenshot of your Inquiry
5. Insert a screenshot of your Sales Order
6. Insert a screenshot of your Journal Entry
7. Insert a screenshot of your Process Flow

Reference no: EM133748564

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