Nobody downloaded yet

Manufacturing Concerns Of Acquisition And Payment Process - Term Paper Example

Comments (0) Cite this document
Summary
For any manufacturing concern, purchasing and payables form a significant portion of its business cycle. The paper "Manufacturing Concerns Of Acquisition And Payment Process" discusses two categories of purchasing and payables process such as acquisition and payments…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.8% of users find it useful
Manufacturing Concerns Of Acquisition And Payment Process
Read TextPreview

Extract of sample "Manufacturing Concerns Of Acquisition And Payment Process"

Download file to see previous pages The purchases department ensures that the transactions are authorized and complies with predefined criteria. Accounts payables or creditors are the other accounts affected by the acquisition of raw material. Whenever a purchase of raw material is made, the accounts payable account is credited with the net amount payable to the supplier of the raw material. When the amount is actually paid, the effect is incorporated in the cash ledger.
Cost of goods sold balance represents the book value of the finished goods sold during the financial period. The other impact of the selling of finished goods is recorded in the sales ledger which is credited by the selling price of the sold good. The difference between the cost of goods sold balance and sales appears in the company’s income statement as the gross profit. Inventory account acts as a sub-ledger to the purchases ledger. The balance in the inventory account represents the value of inventory present in the warehouse at the end of the financial year. The inventory management department keeps on assessing the net realizable of the stock in hand, as according to accounting principles, the stock must be valued at lower of cost or net realizable value.
2. Manufacturing concerns all around the globe are now focusing more and more on making its acquisition and payment process efficient and effective. Several business functions are involved in the acquisition and payment cycle such as Planning and forecasting, material management department, warehouse supervision department, quality control department and accounts department. All of the mentioned business functions are integrated with each other and with other business functions so that the company is able to utilize its resources aptly. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Manufacturing Concerns Of Acquisition And Payment Process Term Paper”, n.d.)
Manufacturing Concerns Of Acquisition And Payment Process Term Paper. Retrieved from https://studentshare.org/technology/1747654-designing-an-internal-control-system
(Manufacturing Concerns Of Acquisition And Payment Process Term Paper)
Manufacturing Concerns Of Acquisition And Payment Process Term Paper. https://studentshare.org/technology/1747654-designing-an-internal-control-system.
“Manufacturing Concerns Of Acquisition And Payment Process Term Paper”, n.d. https://studentshare.org/technology/1747654-designing-an-internal-control-system.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Manufacturing Concerns Of Acquisition And Payment Process

Process design for Riordan Manufacturing

...? Process design for Riordan Manufacturing Manuel Goni Christina Gunn Mike Hatley Connie Johnson Keanu Niko Saeedi Rose Shelton OPS/571 February 27, 2011 Terry Norris Process design for Riordan Manufacturing A new process design for the production of Riordan electric fans will need designs associated with material requirements planning (MRP), supply chain processes, production forecasts, and implementation plans. The MRP helps in specifying when production and purchase orders must be placed for each part and subassembly to complete the product on schedule (Chase, Jacobs, & Aquilano, 2006). Effective planning and controls associated with...
5 Pages(1250 words)Essay

Manufacturing process of concrete

...? Concrete – History, Manufacturing Process, Properties and Application, List of Contents Concrete – Introduction History of Concrete Manufacturing process of concrete Properties of concrete Applications and Uses of Concrete Concrete Concrete is a composite construction material that is composed from different materials like cement, fly ash, aggregate, gravel, water and chemical admixtures. The word came from Latin language concretus that means compact and condensed. Concrete is a hardened building material that becomes solid and hard when it is mixed with water and placement due to hydration. It takes the shape of stone like hard material when water reacts with the...
8 Pages(2000 words)Research Paper

Payment Systems: Coding. Medical Coding Process

...?Payment Systems: Coding Among the five stages of medical coding process, ‘coding’ is the most important one. It will be difficult for a r to complete the coding process if there is a lack of proper documentation. Medical coders use different coding systems in order to carry out different purposes. The Medicare Severity Diagnosis Related Groups (MS-DRGs) work to adjust payment mechanisms for health system providers. The MS-DRG based reimbursement system demands effective documentation that contains complete and accurate information. If the documentation is not effective or if information is missing, the hospital may not get full payment to which it is...
1 Pages(250 words)Essay

Payment plan

...Payment Plan Payment Plan Multi Fibre Agreements (MFA) is a set of guidelines drawn up to govern the trade, in textiles and garments in the world. It was designed to help countries cope with cheap textile imports by imposing quotas on exports. It helped developing countries deal with the competition posed by textile imports from developed countries. This plan aims to highlight the functioning of MFA and its economic consequences. Multi Fibre Agreements were set up approximately 30 years ago, and in the last decade there had been attempts to do away with it and the culmination of this was on 1st January 2005 when it was finally abolished. MFA worked by creating quotas that restricted the competition posed by imports irrespective... Plan...
2 Pages(500 words)Essay

Government Contracting/Acquisition/Procurement Law Contracting and Payment Options

...and accurately certified, at the date of agreeing on the price of the contract (Jeffrey, n.d.). Therefore, sole purpose of TINA is to protect the Federal government from being defrauded by the contractor. Some suggestions put forward concerning the Federal acquisition for technology and solicitation for technical data for acquiring computer software include: Creating exceptions to TINA when acquiring commercial items; to be allowed to be based on market prices. By allowing acquisition of ICT services and products to be based on catalog prices, then the need of conducting post award audits for the given contract will be necessary by the government. This will help the government to speed...
7 Pages(1750 words)Term Paper

Manufacturing Process

...Logistics: Manufacturing Process Johnson & Johnson manufacturing process Johnson & Johnson (J&J) is an American multinational and the world’s biggest manufacturer of consumer goods like baby care, health care, beauty care products. J&J basks in glory of an impeccable reputation regarding quality assurance. J&J has invested in technology as well as systems for its factory management, manufacturing process management, standards for safety and health. The following are two instances in which J&J decided to upgrade their technologies in one of the emerging market in Thailand (manufacturing hub for the region)...
1 Pages(250 words)Essay

NON-EMERGENCY TRANSPORT PAYMENT PROCESS & GROWTH

...Non-Emergency Transport Payment Process and Growth Destination Care is an organization with aims of helping patient acquire medical care at the right times and avoiding any forms of delay. It aims at helping non-drivers, senior citizens who are unable to drive themselves and patients who are unable to drive themselves to receive medical care. The company has experienced a hard time trying to keep up with the widening market and need for alterations in payments. These are some of the challenges facing the company, and their elimination will result in the betterment of productivity and will ultimately maximize profits levels (Levesque 564). The company has some set objectives, solutions to...
5 Pages(1250 words)PowerPoint Presentation

Materials & Manufacturing Process Selection

..., scaring, and excessive rusting for the case of cast irons. The services done may sometimes include replacing the entire disc or repairing the damaged part. Replacing the whole disc is mainly done during circumstances where the cost of acquiring the new disc is relatively lower as compared to the cost of repairing the damaged part. However, it is always advisable that a disc should only be replaced when its thickness has gone below the manufacturer’s recommended minimum thickness. The disc becomes dangerous when its thickness goes below the minimum thickness. The vehicle becomes more prone to an accident in such a case. Disc turning is recommended by the leading Companies to be used in disc maintenance so as to avoid...
11 Pages(2750 words)Case Study

Materials & Manufacturing Process Selection

.... For the manufacturing of the brake disc, the alloys and ceramic components are the selected material .Here the manufacturing route used is the metal casting process and it is the permanent mold casting procedure which give a good surface finish to the end product .The metal alloys and ceramic composites are heated and molded and mixing is done together. In the manufacturing method, the ingredients used are composites ,short carbon fibre, carbon powder and resin. Particle reinforced light metals, with their potential as low cost, high modulus and strength, high wear resistance and easily fabricated material, are just reaching the commercial production...
8 Pages(2000 words)Coursework

Manufacturing process

...Manufacturing process By Part 1A In alternator bracket, there is calculation of compression ratio.In the calculations, there is consideration of bore, stoke, combustion chamber volume, deck height volume, head casket volume, swept volume and the constant volume. Calculation ratio is calculated after there is computation of swept volume, deck height volume, head gasket volume and combustion chamber volume which are then divided by the sum of deck height volume, head gasket volume and the volume of combustion chamber. Bore is the system is the diameter of each cylinder that is expresses in centimeters. Stroke is the length of travel of rod or piston. Combustion chamber volume is the total of each...
5 Pages(1250 words)Lab Report
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Term Paper on topic Manufacturing Concerns Of Acquisition And Payment Process for FREE!

Contact Us