Question

What are some primary objectives of a manufacturing organization’s production process as it relates to Accounting...

What are some primary objectives of a manufacturing organization’s production process as it relates to Accounting Information Systems?

Homework Answers

Answer #1

Normally the primary objective of a manufacturing firm is to covert the raw materials into finished products

But in accordance with ACCOUNTING INFORMATION SYSTEM(A I S) the primary objectives of a concern is to

1-To provide useful data to all stakeholders as they are the interested parties of that organisation ie accounting act as an information system

2- To convert all data into useful information

3-To provide accurate,reliable, relevant information to all parties

4-To provide information which are benefited to auditors, tax professionals etc

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Explain the objectives of Information Systems Audit (accounting information system course)
Explain the objectives of Information Systems Audit (accounting information system course)
managerial Accounting Exercise 4. The following information relates to Marter Manufacturing Corporation for next year:   ...
managerial Accounting Exercise 4. The following information relates to Marter Manufacturing Corporation for next year:    Quarter 1   Quarter 2   Quarter 3    Quarter 4   Expected sales (in units) 220,000 230,000 160,000 180,000 Desired ending finished goods inventory (in units)   29,800 32,300 38,000 35,000 Beginning balance of Quarter 1 inventory is 37,100 units. Required: Prepare the production budget by quarter and in total for the year.
What are the objectives of accounting for a not-for-profit entity?
What are the objectives of accounting for a not-for-profit entity?
The following information relates to a joint production process for three products, with a total joint...
The following information relates to a joint production process for three products, with a total joint production cost of $105,000. There are no separable processing costs for any of the three products. Product Sales Value at Split-Off Units at Split-Off 1 $ 126,000 200     2 52,500 600 3 31,500 1,200 $ 210,000 2,000 What percentage of joint cost is allocated to each of the three products using the physical units method? Product Percent of Sales Units 1% 2% 3%
A production manager knows that 8.5% of components produced by a particular manufacturing process have some...
A production manager knows that 8.5% of components produced by a particular manufacturing process have some defect. Eight of these components, whose characteristics can be assumed to be independent of each other were examined. a. Write the distribution function in terms of ? and x. b. What is the probability that none of these components has a defect? c. What is the probability that two of the components have a defect? d. What is the probability that between two and...
Caterpillar Inc. - Construction Manufacturing Industry V. What is the organization’s measurement and control system? (Include...
Caterpillar Inc. - Construction Manufacturing Industry V. What is the organization’s measurement and control system? (Include Global Considerations.) A. Current financial position - Is the organization financially sound? B. Compare with competitors and industry standards. (Use various financial analysis tools.) C. What are the organization’s Key Performance Indicators (KPI’s)?
Sketch a typical automobile production process, and identify one manufacturing process in each zone.
Sketch a typical automobile production process, and identify one manufacturing process in each zone.
Accounting 2: Cost terms, Cost Behavior, Cost Systems. The assignment is to interview a manufacturing company:...
Accounting 2: Cost terms, Cost Behavior, Cost Systems. The assignment is to interview a manufacturing company: Example - tile, hardwood floor or other construction material OR other type of manufacturing company. There needs to be a TOPIC OR 2. Ex: it’s budgeting process. One would also need to focus on a particular area(s) like their Acct. Process. Ex: How they do their Accounting for inventory or how they do their budgeting. What 2 topics and area would you focus on?...
Identify the primary audit objectives for an accrued liability account such as Bankrate’s SEM accrual. What...
Identify the primary audit objectives for an accrued liability account such as Bankrate’s SEM accrual. What circumstances relevant to accrued liabilities can prove to be particularly challenging for auditors?
Accounting 2: Cost Terms, Cost Behavior, Cost Systems. Assignment: In order to interview a manufacturing company;...
Accounting 2: Cost Terms, Cost Behavior, Cost Systems. Assignment: In order to interview a manufacturing company; what 8 in depth questions would you ask using the topic: budgeting process. Ex. How they do their accounting for inventory? Plz be detailed