Acct 3303 certification - Study guides, Class notes & Summaries

EXPENDITURE CYCLE - The expenditure cycle is a recurring set of business activities and related data processing operations associated with the purchase of and payment for goods and services. The primary objective of the expenditure cycle is to minimize the total cost of acquiring and maintaining inventories, supplies, and the various services the organization needs to function. ORDER GOODS - The first major business activity in the expenditure cycle is ordering inventory or supplies. ...

EXPENDITURE CYCLE - The expenditure cycle is a recurring set of business activities and related data processing operations associated with the purchase of and payment for goods and services. The primary objective of the expenditure cycle is to minimize the total cost of acquiring and maintaining inventories, supplies, and the various services the organization needs to function. ORDER GOODS - The first major business activity in the expenditure cycle is ordering inventory or supplies. ...