Business Processes

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1. Business Activity and Information Needs

   • Business Activity
   • The Main Decision
   • Information Needs

2. Transaction Cycles

   • Revenue Cycle
     • Selling Activity
     • Receipts in Cash
   • Expenditure Cycle
     • Purchasing Activities
     • Payment in Cash
   • Production Cycle
     • Convert Raw Materials Activities into Finished product
   • Financial Cycle
     • Activities obtain funds from investors and creditors

3. Data Processing Cycle

   • Input Data
     • Source Document
     • Turnaround Document
     • Source Data Automation
   • Data Storage
     • General Ledger
       • Assets
       • Liabilities
       • Equity
       • Revenue
       • Expense
     • Subsidiary Ledger
       • Receivable
       • Stock
       • Fixed Assets
       • Payable
   • Data Processing
     • On-line Process
     • Real-time Process
   • Output Information

4. Managerial Reports

   • Budget Report
     • Estimate Cash Inflows and Outflows
   • Performance Report
     • Financial Control
     • Revenues and Expenditure
     • Deviation or difference between revenue and expenditure

5. Basic Objective of internal control

   • Produce reliable information
   • Business activity can be efficiently
   • safeguard the assets of organization

6. 2 Methods to get the purpose of internal control

   • Documentation
   • Segregation of duties