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Emerging Technologies in Accounting - Essay Example

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The present essay under the title "Emerging Technologies in Accounting" dwells on the technological developments meant to deals with accounts. As the author puts it, there are some details which need to be available in the common database before the event, which will be used for reference…
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Emerging Technologies in Accounting
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Download file to see previous pages For the order to be recorded for the delivery date requested, the valid product ids and quantities will need to be entered after the event. If the delivery date requested also needs to be checked for feasibility, the database must have information on the 1) Stocks available for the products ordered; 2) List of all orders scheduled between now and the requested date for the products; 3) Balance capacity available for fulfilling this order.
No obligations would be recorded in the Accounting books at this stage. However, the Company accepts the obligation to supply the products by the delivery date; and the customer accepts the obligation to receive and pay for the goods as per the order’s terms.
Event b: When the system schedules the production of goods the information needed from the database are 1) Free stocks available for each product ordered; 2) Bill of materials required for the products ordered; 3) Stocks of raw materials available; 4) Production operations to be performed and the time required for each operation; 5) Machinery, Equipment, and Labor required for the operations and their availability
Event c: For the system to schedule raw material orders from the vendors, the information needed in the database are 1) Raw material requirements for the goods, based on Bill of Materials; 2) Preferred vendors for the raw materials; 3) Vendor rates; 4) Lead time for supply of the raw materials.
Event d: For the raw materials to be received and stored, the database should have information relating to 1) The order placed with the vendors, i.e., Vendor Id, Order No, Order date, Desires Delivery date, Raw material id, quantity, price, Delivery terms, and Payment terms; 2) Goods acceptance details based on inspection of the raw materials supplied. ...Download file to see next pagesRead More
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