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ISA 303 > ISA 303 Final Exam > Flashcards

ISA 303 Final Exam Flashcards

1
Q

types of enterprise systems

A
  • enterprise resource planning (ERP)
  • supplier relationship management (SRM)
  • customer relationship management (CRM)
  • supply chain management (SCM)
  • product lifecycle management (PLM)
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2
Q

functional areas of operation

A
  • marketing and sales
  • supply chain management
  • accounting and finance
  • human resources
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3
Q

process orientation

A

cures the ills of functional orientation by cutting across functional boundaries

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4
Q

key process flows

A
  • information flow
  • data and document flow
  • physical flow
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5
Q

paper-based process

A

caused delays in creating/updating paperwork and sending paperwork

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6
Q

consequences of delays

A
  • delays
  • excess inventory
  • lack of visibility across the process
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7
Q

functional systems

A

each functional area had its own database to create/update information but there was still a delay in sending paperwork to other areas

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8
Q

role of ERP in organizations

A
  • execute the process
  • capture and store process data
  • monitor performance (instance and process level)
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9
Q

Stages of ERP evolution

A
  1. stand-alone mainframe systems
  2. client-server architecture
  3. service-oriented architecture (SOA)
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10
Q

SAP ERP modules

A

•production planning, materials management, sales and distribution, plant maintenance, project systems, quality management, financial accounting, management accounting/controlling, human resources, and business intelligence

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11
Q

types of data

A
  • organizational
  • master
  • transactional
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12
Q

organizational data

A

defines the organizational structure (ex. client, company code, plant, storage locations, sales and purchasing organizations)

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13
Q

master data

A

long-term data that typically represents entities associated with various processes (ex. financial data,plant data, sales organization data, purchasing info, material master)

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14
Q

transaction data

A

data generated during execution of process steps (ex. data, time, person)

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15
Q

material types

A
  • raw materials
  • semi-finished goods
  • finished goods
  • trading goods
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16
Q

key financial accounting processes

A
  • general ledger accounting
  • accounts receivable accounting
  • accounts payable accounting
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17
Q

organizational levels

A
  1. client
  2. company code
  3. business area
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18
Q

financial master data

A

charts of accounts, general ledger accounts, subsidiary ledgers

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19
Q

types of charts of accounts

A

operative, country-specific, and group

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20
Q

general ledger accounts

A

record all relevant business transactions and are segmented by organizational level

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21
Q

general ledger segmentation

A
  • chart of account segment
  • company code segment
  • general ledger (COA + company code data)
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22
Q

balance sheet accounts

A

assets=liabilities+equities

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23
Q

profit and loss accounts

A

income=revenue-expenses

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24
Q

subsidiary or sub-ledgers

A
  • not part of the general ledger

- used to separate accounting for customers, vendors, and assets

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25
Q

reconciliation accounts

A
  • general ledger accounts used to consolidate data in sub-ledger accounts
  • cannot be posted to directly
  • maintain the sum of corresponding sub-ledgers
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26
Q

posting keys

A

two-digit code specifying the account type for posting and if it is a debit or credit

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27
Q

+ debit (reverse logic)

A

assets and expenses

28
Q
  • debit (regular logic)
A

revenue and liabilities

29
Q

obtaining account information

A

3 levels

  1. balance display
  2. line item display
  3. original G/L enteries
30
Q

financial statement types

A
  1. balance sheet
  2. income statement
  3. statement of cash flows
31
Q

fulfillment process documents

A
  • customer inquiry
  • quotation
  • customer purchase order
  • sales order
  • picking document
  • packing list
  • customer invoice
  • customer payment
32
Q

fulfillment process participants

A
  • sales
  • warehouse
  • accounting
33
Q

sales (fulfillment role)

A
  • receive customer inquiry
  • create and send quotation
  • receive customer purchase order
  • create sales order
34
Q

warehouse (fulfillment role)

A
  • prepare shipment (picking document)

* send shipment (packing list)

35
Q

accounting (fulfillment role)

A
  • creates and sends invoice

* receives payment

36
Q

sales hierarchy

A
  • client
  • company code
  • sales organization
  • distribution channels or divisions
  • sales areas
37
Q

shipping with ERP

A
  • stock account and COGS updated
  • controlling document created
  • billing due list updated
  • sales documents updated
38
Q

billing with ERP

A
  • customer account, reconciliation account, and sales revenue accounts updated
  • controlling document created
  • sales documents updated
39
Q

processing payment with ERP

A

-cash account, customer account, and reconciliation account updated

40
Q

procurement process documents

A
  • purchase requisition
  • purchase order
  • packing list
  • goods receipt document
  • vendor invoice
  • vendor payment
41
Q

procurement process participants

A
  • warehouse
  • purchasing
  • warehouse
  • accounting
42
Q

warehouse (procurement roles)

A
  1. create purchase requisition

3. receive shipment

43
Q

purchasing (procurement role)

A
  1. create & send purchase order
44
Q

accounting (procurement roles)

A
  1. receive invoice

5. send payment

45
Q

purchasing hierarchy

A
  • client
  • company code
  • plant
  • multiple storage locations, one shared or individual purchasing organizations
46
Q

material master views

A
  • raw material- no sales view
  • finished goods- no purchasing view
  • trading goods- no production view
47
Q

uses for vendor master data

A
  • client level (general)
  • company code level (accounting)
  • purchasing organization level (purchasing)
48
Q

goods movement

A
  • goods receipt
  • goods issue
  • stock transfer
  • transfer posting
49
Q

GR/IR account

A

acts as a buffer between vendor and inventory accounts

50
Q

FI impacts for procurement occur at these steps

A
  • goods receipt
  • invoice verification
  • payment processing
51
Q

FI impacts for procurement affect these accounts

A
  • inventory
  • GR/IR
  • bank
  • vendor
  • accounts payable
52
Q

material master: MRP types

A
  • consumption-based planning

* MRP or master production scheduling

53
Q

consumption-based planning

A

derives requirements based on historical consumption data

  • uses reorder point, and safety stock
  • for low value materials
54
Q

independent vs. dependent demand

A

•independent demand
-finished goods and trading goods
•dependent demand
-semi-finished goods and raw materials

55
Q

MRP

A

derives dependent demand based on independent requirements

56
Q

MPS

A

derives dependent requirements only for the 1st level in the BOM, executed first for critical finished goods, usually followed by MRP

57
Q

sales and operations planning

A
  • create the sales plan
  • specify inventory requirements
  • creating production plans
  • evaluating operations plans
58
Q

disaggregation

A

SOP translated into a plan to make the finished product groups using the product hierarchy

59
Q

calculating net requirements for MRP

A

•MRP

  • available stock=plant stock-safety stock + receipts-issues
  • reorder when available stock is negative
60
Q

calculating net requirements for consumption based

A

•consumption based

  • available stock=plant stock+receipts
  • reorder when available stock is below the reorder point
61
Q

Procurement is triggered by fulfillment when

A

the company employs a procure-to-order strategy for trading goods

62
Q

Procurement is triggered by production when

A

the company employs a procure-to-order strategy for raw materials

63
Q

Procurement is triggered by material planning when

A

the company employs a procure-to-stock strategy for raw materials

64
Q

Procurement is triggered by material planning when

A

the company employs a procure-to-stock strategy for trading goods

65
Q

process integration

A

•sales
-create sales order: sufficient finished goods? NO? Procure goods
•warehouse production
-authorize production: sufficient raw materials? NO? Procure raw materials

66
Q

documents in production process

A
  • planned order
  • production order
  • material withdraw slip
  • material withdrew slip
  • production order
  • goods receipt
67
Q

roles in the production process

A 
•warehouse
1. request production
3. issue raw materials
5. receive finished goods
•production
2. authorize production
4. create products

ISA 303 (1 decks)

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