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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 systemsHighlight key features and controlsStanderdizedEasy to update and little narrative Disadvantages:-
Requires formal training to understand notation usedtime consuming to preparemay missout crucial detail because of little supporting narrative
Optimal Cash Model: Cash Management is a bigger aspect that involves range of functions that assist individuals and business to process their payments and receipts in an organ
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Should a company pursue price hike or focus on increasing sales volume
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