ACC 340 Week 2 Team Accounting Cycle Description Paper
Accounting Cycle Description
Riordan Manufacturing Prepare a 1,050-1,400- word paper addressing the following: Identify the five accounting cycles and explain how this organization uses the accounting cycle you have selected. Comment on the strengths and weaknesses of the internal controls related to this cycle. Explain how you would integrate this part of the accounting cycle into an enterprise-wide accounting information system. Differentiate between the various types of information systems necessary to achieve this integration. Demonstrate the flow of accounting information through this organization.
The expenditure cycle is a process of determining what materials a company will need, ordering the necessary materials, and issuing payment for the expenditure. Activities in this group include, “credit purchases, payroll, and accounts payable”