Business or Transaction Cycle - Coursework Example

Expenditure Cycle: The expenditure cycle is related to the gaining of premises, resources, or manufactured components and the use of labor to capitulate a finished product.Human Resources / Payroll Cycle: In a human resource cycle, there are 7 needs of a company. 1) Business needs 2) job competencies 3) the hiring process 4) Learning and development 5) performance assessment 6) continued learning and training 7) total rewards.Financing Cycle: In the financing cycle, the dependent industries are strongly affected by slump periods if situated in poor countries with poor financial facilities.

General Ledger and Reporting Systems: General Ledger comprises all the fiscal accounts. Data Processing Cycles: It’s a sequence that consists of four stages and they’re as follows. 1) Collection 2) input 3) processing and storage 4) output.Source Documents: These are the original documents recorded with the bookkeeping entries. They can be either in written or printed form.Turnaround Documents: It is a document that is created by a computer to be used for the record entry. Once it has been generated by the computer, it is then filled in by the users and used to input the data back into the computer.

Source data Automation: It’s a process of collecting the original data from their source. It eradicates the duplicate effort and the chance of possible error by gathering records in digital form. General Ledger: It comprises of all the fiscal accounts.Subsidiary Ledger: It shows the total balance of the general ledger account.Control Account: It shows the total of all amounts entered in the Subsidiary Ledger.Coding: The putting in order of replies into groups and the task of an exclusive arithmetical code to each reply proceeding to data entry.

Sequence Code: It’s a three character code that identifies the order in which categories are shown or arranged.Block Code: It’s a fixed length code, unlike other codes.