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Chapter 15

Chapter 15. GL and Reporting. Accounting Cycle. View GL as the “linchpin” that ties reporting together (p. 589 diagram) Why do we need the GL? Treasury function Financial reporting Managerial reporting Regulatory requirements. Alternative Views of Accounting.

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Chapter 15

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  1. Chapter 15 GL and Reporting

  2. Accounting Cycle • View GL as the “linchpin” that ties reporting together (p. 589 diagram) • Why do we need the GL? • Treasury function • Financial reporting • Managerial reporting • Regulatory requirements

  3. Alternative Views of Accounting • Encompassing - controller view • Enterprise Resource Planning (ERP) • Entity-wide software • Balanced Scorecard

  4. Cycle Outline • ID business needs and impact of IT • Document the cycle (how?) • Identify threats to the system • Identify IC weaknesses and opportunities • Data modeling for each cycle

  5. Control, Threats, Procedures • Errors in GL • input and processing controls • timing of the runs (e.g., what to include on FS) • DR = CR (Broken Arrow, OK) • DR and CR Vs. Desired zero balances • Audit Trail • Standardized AJE procedures

  6. General Controls • Access • Disaster recovery • File labels • Backup data files • Backup program files? • OLAP • on-line analytical processing

  7. Balance Scorecard • Kaplan and Norton, 1992 • Parameters: Financial, customer, internal, innovation • What new information must be collected? • Implications for system design • Virtual Value Chains • compare to chapter one value chain

  8. VVC • Gathering information • Okay, I will continue to beat the dead horse… • Synthesizing and organizing data into information • Distribution of information to “customers”

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