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Accounting and Financial Systems Identification Group
Accounting Processes
Accounting Processes
Accounting Processes
What are Accounting Systems <ul><li>Are software that records and processes accounting transactions within functional modu...
What are Accounting Systems <ul><li>It may be developed in-house by the company or organization using it. </li></ul><ul><l...
Modules of an Accounting System  <ul><li>Core Modules: </li></ul><ul><li>Accounts receivable </li></ul><ul><li>Accounts pa...
Modules of an Accounting System  <ul><li>Non-Core Modules: </li></ul><ul><li>Debt Collection </li></ul><ul><li>Electronic ...
Users of Accounting Systems <ul><li>Corporate Accountants </li></ul><ul><li>Financial Analysts, Consultants, Managers </li...
System Workflow
Available Software
Available Software
Benefits of an Accounting System <ul><li>Less Paperwork </li></ul><ul><li>Less Errors in journalizing accounts </li></ul><...
Q&A
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Identificationgroup

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  • Speaker Notes: Greet user and simply inform them that in this report, Accounting and Financial Systems shall be generalized as Accounting Systems. Although Accounting and Finance, by definition, is different in a way that the former is involved with analyzing how the cash flows in a firm while the latter is involved on allocating cash in different business processes, both of such functions are integrated in mid-to-high end Accounting Systems, which are generally classified as part of the Enterprise Resource Planning Systems. For a firm with an ERS, an Accounting System cannot function without its Financial counterpart, hence the so-called Check and Balance. It must be noted though that this interrelation is applicable on mid-to-high end companies alone, as Finance Systems can actually operate independently without the Accounting System and vice versa for small-scale needs such as personal or single-function areas. An example of this is that a Finance System can be used by an individual to budget his money, and a student accountant can rely solely on a spreadsheet simply to make ledgers that may not be necessarily needed by corporate functions.
  • Transcript of "Identificationgroup"

    1. 1. Accounting and Financial Systems Identification Group
    2. 2. Accounting Processes
    3. 3. Accounting Processes
    4. 4. Accounting Processes
    5. 5. What are Accounting Systems <ul><li>Are software that records and processes accounting transactions within functional modules. </li></ul><ul><li>It functions as an accounting information system. </li></ul>
    6. 6. What are Accounting Systems <ul><li>It may be developed in-house by the company or organization using it. </li></ul><ul><li>May be purchased from a third party, or may be a combination of a third-party application software package with local modifications. </li></ul><ul><li>It varies greatly in its complexity and cost. </li></ul>
    7. 7. Modules of an Accounting System <ul><li>Core Modules: </li></ul><ul><li>Accounts receivable </li></ul><ul><li>Accounts payable </li></ul><ul><li>General ledger </li></ul><ul><li>Billing </li></ul><ul><li>Stock/Inventory </li></ul><ul><li>Purchase Order </li></ul><ul><li>Sales Order </li></ul>
    8. 8. Modules of an Accounting System <ul><li>Non-Core Modules: </li></ul><ul><li>Debt Collection </li></ul><ul><li>Electronic Payment </li></ul><ul><li>Expense </li></ul><ul><li>Inquiries </li></ul><ul><li>Payroll </li></ul><ul><li>Reports </li></ul><ul><li>Timesheet </li></ul><ul><li>Purchase Requisition </li></ul>
    9. 9. Users of Accounting Systems <ul><li>Corporate Accountants </li></ul><ul><li>Financial Analysts, Consultants, Managers </li></ul><ul><li>Accounting and Finance Department Staff </li></ul><ul><li>Mid/Top-Level Management Employees </li></ul><ul><li>Corporate Decision Players </li></ul><ul><li>Common End-Users </li></ul>
    10. 10. System Workflow
    11. 11. Available Software
    12. 12. Available Software
    13. 13. Benefits of an Accounting System <ul><li>Less Paperwork </li></ul><ul><li>Less Errors in journalizing accounts </li></ul><ul><li>Information is easier to retrieve </li></ul><ul><li>Less anomalies in balance sheets </li></ul><ul><li>Improved corporate efficiency </li></ul><ul><li>Less time-consumption </li></ul><ul><li>Less workers </li></ul><ul><li>Same or even better results </li></ul>
    14. 14. Q&A
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