Flashcards
Ch 9 + BUdgeting
Cards in this deck (7)
- 1Name 3 reasons for budgeting- Forces management to look forward and anticipate the future
- Alternative courses of action
- Enables the setting of prices for specific income levels
- Enables control - 2What are 3 things that an AR module do?- Monitors: collection activities + aging of Accounts receivable
- Maintains account's balances
- Processes billings
- audit report of AR transactions - 3What are 3 things an Account's Payable Module do?- Generates checks for payment
- Posts vendor invoices
- Monitors vendors discount periods
- determines accounts due
- generates management reports
- facilitates the reconciliation of used checks - 4What kind of files does the Accounts Payable Module take care of?- Vendor Master file
- Invoice Register file
- Check register file - 5What does the Customer master file keep track of?- Not guests
- collects + stores billing information for firms that the business has a relationship with
- credit history - 6what does the vendor master file do?- Current vendors
- Summary of the Accounts payable information - 7Name the three types of Inventory valuation and explain-LIFO
- FIFO
- Weighted average
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- Bachelor Hotelschool Flashcards on Ch 9 + BUdgeting, created by holamellamotesselatraasa T on 22/01/2017.
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- holamellamotesselatraasa T
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