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Chapter 8
Expenditure cycle: Purchasing to cash
disbursements
Instructor’s Manual
Learning Objectives:
1. Explain the basic business activities and related information processing
operations performed in the expenditure cycle.
2. Discuss the key decisions to be made in the expenditure cycle, and identify the
information needed to make those decisions.
3. Document your understanding of the revenue cycle.
Questions to be addressed in this chapter include:

1. What must be done to ensure that AOE’s inventory records are current and
accurate to avoid unexpected components shortages like those experienced at
the Williamstown plant?
2. How could the problems at the Dalby plant be avoided in the future? What can
be done to ensure timely delivery of quality components?
3. Is it possible to reduce AOE’s investment in materials inventories?
4. How could the information system provide better information to guide planning
and production?
5. How could IT be used to further reengineer expenditure cycle activities?
Introduction
The expenditure cycle is a recurring set of business activities and related data
processing operations associated with the purchase of and payment for goods and
services.
Figure 8.1 provides a context diagram of the expenditures cycle. Note that the
expenditures cycle involves the revenue cycle, inventory cycle, various departments
Copyright ©2013 Pearson Australia (a division of Pearson Australia Group Pty Ltd) –
9781442542594/Romney/Accounting Information Systems/1e
1
involved in requesting items to be ordered, and receiving the items and the production
cycle.
This chapter focuses on the purchase of raw materials, finished goods, supplies, and
services.
The primary objective of the expenditure cycle is to minimise the total cost of acquiring
and maintaining inventories, supplies, and the various services the organisation needs
to function.
Learning Objective One

Explain the basic business activities and related
information processing operations performed in the
expenditure cycle.
Expenditure Cycle Business Activities

Figure 8.2 provides a level 0 data flow diagram for the expenditure cycle.
Four basic business activities in the expenditure cycle:

1. Ordering goods, supplies, and services.
2. Receiving and storing goods, supplies, and services.
3. Approving supplier’s invoices.
4. Paying for goods, supplies, and services.
Order Goods
The first major business activity in the expenditure cycle (circle 1.0 in Figure 8.2) is
ordering inventory or supplies.
Key decisions in this process involve identifying what, when, and how much to
purchase and from whom. Weaknesses in inventory control can create significant
problems with this process as demonstrated in the introductory AOE case:
1. Inaccurate inventory records.
2. Inventory shorts resulting in production delays caused by late delivery or

substandard components delivered.
2
Alternative Inventory Control Methods
One of the key factors affecting the ordering process is the inventory control
method to be used.
We will consider three alternate approaches to inventory control: economic

order quantity (EOQ); just-in-time inventory (JIT) and materials
requirements planning (MRP).
Economic Order Quantity (EOQ) is the traditional approach to managing

inventory. The goal is to maintain enough stock so that production doesn’t get
interrupted. An optimal order size is calculated by minimising the sum of
ordering costs, carrying costs, and stockout costs. A reorder point is also
calculated.
1. Ordering Costs include all expenses associated with processing purchase

transaction.
2. Carrying Costs are those associated with holding inventory.
3. Stockout Costs are those cost that result from inventory shortages, such
as lost sales or production delays.
4. The Reorder Point is when to order based on delivery time and safety
stock levels.
5. Optimal Order Size
2 DP
EOQ =
C
D = Demand in units for a specified period.

P = Relevant ordering cost per purchase order.
C = Relevant carrying cost of one unit in stock for the time period
used for D.
Materials Requirement Planning (MRP) seeks to reduce inventory levels by

improving the accuracy of forecasting techniques to better schedule purchases
to satisfy production needs. This schedule identifies the quantities of raw
materials, parts, and supplies needed in production and the point in time when
they will be needed.
Just-in-Time (JIT) systems attempt to minimise, if not totally eliminate,

carrying inventory by only purchasing and producing goods in response to
3
actual sales. These systems have frequent, small deliveries of materials, parts,
and supplies directly to the location where production will occur.
A major difference between MRP and JIT is the production scheduling.
1. MRP systems schedule production to meet forecasted sales thereby

creating a stock of finished goods inventory.
2. JIT systems schedule production in response to customer demands thereby

virtually eliminating finished goods inventory.
Purchase Requests
Whatever the inventory control system, the order processing typically begins with a
purchase request followed by the generation of a purchase order. The purchase
requisition is triggered by the inventory control function or an employee noticing a
shortage. Advanced inventory control systems automatically initiate purchase
requests when quantity falls below the reorder point.
The purchase requisition (Figure 8.4) is a paper or electronic form that

identifies who is requesting the goods; where they should be delivered; when
they’re needed; item numbers, descriptions, quantities, and prices; a
suggested supplier; and the department number and account number to be
charged.
The purchase requisition is received by a purchasing agent in the purchasing

department, who typically performs the purchasing activity. The purchase
requisition shown in Figure 8.4 is a document, or electronic form, that identifies the
requisitioner, specifies the delivery location and date needed, identifies the item
numbers, descriptions, quantity and price of each item requested; and may suggest a
supplier.
Figure 8.4 shows a typical purchase requisition data entry screen used in ERP
systems.
Generating Purchase Orders

A crucial decision is the selection of supplier for inventory items. Several factors should
be considered in making this decision:
1. Price
2. Quality of materials
3. Dependability in making deliveries
Once a supplier has been selected for a product, their identity should become part of
the product inventory master file. It’s important to track and periodically evaluate
4
supplier performance. The purchasing function should be evaluated and rewarded
based on how well it minimises total costs, not just the costs of purchasing the goods.
A purchase order (PO), shown in Figure 8.5 is a document or electronic form that
formally requests a supplier to sell and deliver specified products at specified prices.
The PO is both a contract and a promise to pay. Multiple purchase orders may be
completed for one purchase requisition if multiple vendors will fill the request. A
blanket purchase order is a commitment to buy specified items at specified prices
from a particular supplier for a set time period.
Improving Efficiency and Effectiveness

The major cost driver is the number of purchase orders processed.
Using EDI is one way to improve the purchasing process. EDI reduces costs by
eliminating the clerical work associated with printing and mailing paper documents.
The time between recognising the need to reorder an item and subsequently receiving
it also is reduced.
Vendor-managed inventory programs provide another means of reducing purchase

and inventory costs.
Vendor-managed inventory essentially outsources much of the inventory control

and purchasing.
Suppliers are given access to point-of-sales and inventory data and are authorised
to automatically replenish inventory.
Reverse auctions provide another technique to reduce purchasing-related expenses.

In reverse auctions, suppliers compete with one another to need demand at the lowest
price.
One other way to reduce purchasing-related costs is to conduct a pre-award audit,

normally involving large purchases that involve bids.
The internal auditor verifies the accuracy of the bids.
Receiving and Storing Goods

The Receiving Department accepts deliveries from suppliers. The Receiving
Department normally reports to the Warehouse Manager, who reports to Vice
President of Manufacturing. The Inventory Stores Department, which also
reports to the Warehouse Manager, is responsible for the storage of the goods.
5
The receipt of goods must be communicated to the inventory control
function to update inventory records.
The two major responsibilities of the receiving department are deciding whether to
accept delivery (based on whether there is a valid purchase order) and verifying the
quantity and quality of delivered goods.
Verifying the quantity of delivered goods is important so the company only pays for
goods received and inventory records are updated accurately. The receiving report,
shown in Figure 8.6 is the primary document used in this process. The receiving
report includes the date received, shipper, supplier and purchase order number. For
each item received, it shows the item number, description, unit of measure, and
quantity. It also provides space for signature and comments by the person who
receives and inspects the goods.
A receiving report is not typically used for receipt of services. Receipt of services is
typically documented by supervisory approval of the supplier’s invoice.
When goods arrive, a receiving clerk compares the PO number on the packing slip with
the open PO file to verify the goods were ordered. The receiving clerk counts the goods
and examines them for damage before routing to the warehouse or factory.
Three possible exceptions to this process are:
1. Receiving a quantity of goods different from the amount ordered.
2. Receiving damaged goods.
3. Receiving goods of inferior quality that fail inspection.
In all three cases, the purchasing department must resolve the situation with the
supplier.
In the case of damaged or poor quality goods, a debit memo is prepared after the
supplier agrees to take back the goods or grant a price reduction.
Improve Efficiency and Effectiveness

One way to improve the efficiency of the receiving process is to require suppliers to
barcode their products.
Barcoding enables receiving clerks to scan in the product number, description, and
quantity of all items received, eliminating data errors.
Radio frequency identification (RFID) tags are attached to each crate of goods and
emit a signal that a receiving unit embedded in the gates near a company’s warehouse
unit can read.
6
EDI and satellite technology provide another way to improve the efficiency of
inbound logistics. EDI advance shipping notices inform companies when products have
been shipped.
Finally, audits may identify opportunities to cut freight costs. For example, many
companies have negotiated significant savings with specific carriers.
Approving Suppliers Invoices

Approval of vendor invoices is done by the accounts payable department, which
reports to the controller. The legal obligation to pay arises when goods are received;
but most companies pay only after receiving and approving the invoice. This timing
difference may necessitate adjusting entries at the end of a fiscal period.
The objective of accounts payable is to authorise payment only for goods and services
that were ordered and actually received. This requires information from purchasing
about the existence of a valid purchase order and from receiving for a report that
goods were received.
There are two basic approaches to processing vendor invoices:
1. Non-Voucher system—each approved invoice is posted in the supplier’s
records in accounts payable, filed, and is then stored in an open invoice file.
When a cheque is written, the invoice is removed from the open invoice file,
marked “paid” and then stored in a paid invoice file.
2. Voucher system—a disbursement voucher is also prepared which

identifies the supplier, lists outstanding invoices, and net amount to be paid
after discounts and allowances. The disbursement voucher effectively shows
which accounts will be debited and credited, along with the account numbers.
There are three advantages for using disbursement vouchers:

1. Several invoices may be paid at once (reducing number of cheques).
2. Vouchers can be pre-numbered, which simplifies tracking all payables.
3. The voucher provides a record that a vendor invoice has been approved for
payment and facilitates invoice approval separate from invoice payment. This
makes it easier to schedule both activities to maximise efficiency.
Accounting approves the invoice for payment by comparing the invoice to the
purchase order and receiving report. A voucher package, which contains the
approved invoice, and supporting purchase order and receiving report, is sent to the
cashier. This voucher package authorises issuance of a cheque or EFT to the supplier.
7
Paying Approved Invoices
The final activity in the expenditure cycle is the payment of approved invoices.
The cashier reviews the voucher package, approves the payment, prepares the
cheque for payment, and signs the cheque.
Improving Efficiency and Effectiveness

The accounts payable process, which matches vendor invoices to purchase orders and
receiving reports, is a prime candidate for automation.
Processing efficiency can be improved by: requiring suppliers to submit invoices by EDI
and having the system automatically match invoices to purchase orders and receiving
reports.
Another option is to eliminate vendor invoices. This “invoiceless” approach is called

evaluated receipt settlement (ERS). ERS replaces the traditional three-way
matching process with a two-way match of the purchase order and receiving report.
Procurement cards provide one way to eliminate the need for accounts payable to
process many small non-inventory invoices. A procurement card is a corporation
credit card that employees can use only at designated suppliers to purchase specific
kinds of items.
Using corporate credit cards for travel expenses further reduces the number of invoices
that need to be processed.
Preparing careful short-term cash budgets is useful in taking advantage of early-

payment discounts.
For example, if the corporation purchased an item for $100 000 with the terms
2/10, n/30; the amount of the discount that could be realised by paying within ten
days is $2000. Even more important, if the corporation did not pay within the ten
days, the 2% discount represents an annual interest rate of 18% (2% X 360/20).
Finally, financial data electronic interchange (FEDI) can cut the costs associated
with paying suppliers by eliminating the need to prepare and mail cheques.
Focus 8.1 shows dramatic improvements can often be made simply by reengineering
the accounts payable and cash disbursements processes.
Medtronic had successfully used both Six Sigma and Lean principles to
streamline its workflow activities and improve product quality.
Six Sigma is a philosophy that focuses on improving quality by reducing

mistakes.
Lean analysis seeks to improve efficiency by eliminating bottlenecks and

redundancies.
8
Medtronic initiated a series of intensive 5-day projects, called kaizen, to apply
Six Sigma and Lean principles to improve accounts payable.
Medtronic’s application of process improvement techniques yielded a dramatic

improvement in the efficiency and effectiveness of its Accounts Payable function:
1. The time required to open the mail, sort, process, and record vendor invoices
dropped from 3 days to 1 day.
2. The number of invoices for which discounts for prompt payment were taken
increased by 15%.
3. Payment processing times were cut by 50%.
Multiple Choice 1
The EOQ calculation that considers loss sales or production delays is:
a. carrying costs
b. stockout costs
c. reorder point
d. ordering costs
Multiple Choice 2
The approach to managing inventory that is based on forecasted sales to schedule
production is:
a. IBM
b. EOQ
c. MRP
d. JIT
Multiple Choice 3
Crucial operating decisions when selecting suppliers for inventory items includes:
a. price
b. quality of materials
c. dependability of making decisions
d. all of the answers provided
Multiple Choice 4
The document used to request that an item be ordered is the:
a. purchase order
9
b. purchase requisition
c. purchase advice
d. purchase auction
Multiple Choice 5
The major cost driver in the purchasing function is:
a. The number of purchase orders processed.
b. The price of the items purchased.
c. The reputation of the supplier.
d. None of the answers provided.
Multiple Choice 6
A receiving report is typically not used for:
a. low cost supply items
b. items ordered on blanket purchase orders
c. receipt of services
d. reoccurring items
10
Learning Objective Two
Discuss the key decisions to be made in the expenditure
cycle, and identify the information needed to make those
decisions.
Expenditure Cycle Information Needs and

Reporting
The following information is needed for the following operational tasks in the
expenditure cycle:
1. Determine when and how much additional inventory to order.

2. Select the appropriate suppliers from whom to order.
3. Verify the accuracy of vendor invoices.
4. Decide if purchase discounts should be taken.
5. Monitor cash flow needs to pay outstanding obligations.
The AIS needs to provide information to evaluate the following:
1. Purchasing efficiency and effectiveness.

2. Supplier performance.
3. Time taken to move goods from receiving to production.
4. Per cent of purchase discounts taken.
Notice that these decisions require both financial and operating data.
Because inventory represents a sizable investment of working capital, reports that help
manage inventory are especially valuable. A key inventory measure is the inventory
turnover.
Multiple Choice 7
The formula for the inventory turnover is __________ divided by the _____.
a. net sales; inventory
b. cost of goods sold; inventory
c. gross margin; inventory
d. none of the answers provided
11
Answer to Multiple Choice Questions:
Multiple Choice Question Answers
Number Answer Number Answer
1 B 6 C
2 C 7 B
3 D
4 B
5 A
Q9 Cost/Benefit analysis of inventory validation procedure

Without With Net
validation validation expected
procedure procedure difference
Cost to process entire inventory $ 20,000 $ 20,000
Likelihood of inventory data errors 12% 2%
Expected error $ 2,400 $ 400 $ 2,000
Cost of validation procedure $ 1,200 $ 300 $ 900
Net expected benefit of validation procedure $ 1,100
Cost of validation procedure $ 650
$ 450
Answer to Chapter quiz:

Number Answer Number Answer
8.1 C 8.6 B
8.2 B 8.7 C
8.3 B 8.8 A
8.4 C 8.9 D
8.5 C 8.10 C
12
Ethical issue
Far-2-Ezy (F2E) makes loans to high-risk borrowers. F2E borrows from its bank and
then lends money to people with bad debt histories. The bank requires F2E to submit
quarterly financial statements in order to keep its line of credit. F2E’s main asset is
Bills Receivable. Therefore, Uncollectable Bills Expense and Allowance for Uncollectable
Bills are important accounts.
Katie Bamber (KB), the owner of F2E wants net profit to increase in a smooth pattern,
rather than increase in some periods and decrease in others. To smooth out increasing
net profits, Katie underestimates Uncollectable Bills Expense in some periods when net
profits don’t fit the smooth increasing pattern. In other periods, Katie overestimates
the expense. She reasons that over time profit over statements roughly cancel out
profit under statements.
Required
Use the stakeholder analysis framework described in Chapter 1, to analyse if there is
an ethical dilemma if Bamber smooths out profits. Make reference to accounting
standards, disclosure and any laws applicable in your analysis.
Ethical issue – note: students’ responses may vary

Question to ask Decision
1. What is the 1. Recognise the ethical issue or dilemma.
ethical issue? • This is an example of Earnings Management using
expense accounts.
• Although there is no law that is broken here, expenses
should be matched against the revenue earned.
• The ethical dilemma is should the financial accounts of
F2E be manipulated for some short term gain.
2. What are the 2. Move towards an ethical resolution by answering these
principle questions in sequence.
elements in this
situation?
a. What parties • Owner Assume KB is the only
(stakeholders) • Bank owner.
may be harmed?
• Employees (possibly in
longer term)
b. Whose rights or • Bank
claims may be
violated?
c. Which specific • Katie has some motivation to manipulate the accounts,
interests are in which is not appropriate.
conflict? • The rights for bank to know the true position of F2E’s
results.
13
d. What are your • Based on ethical and professional standards, you as
responsibilities F2E’s accountant need to point out that earnings
and obligations? management does not show a true and fair view of
F2E’s position and that it contravenes the matching
principle.
• Also you need to point out that should the bank find
out, she may lose the credit facility and thus the
business.
3. What are your 3. Specify alternatives and weigh up impacts of each on
options and what various stakeholders.
are the - Alternatives
consequences?
a. Do nothing and let KB earnings manage accounts.
b. Try to convince KB that Uncollectable Bills Expense
needs to be calculated to cover uncollectable using
some empirically based formula.
- Impact of alternative on stakeholders
a. Bank may be affected, as they will not know the true
position of F2E.
b. The best alternative; if KB sees that this is the right
thing to do, then all stakeholders will know the true
position of F2E; if KB does not agree, you may lose a
client but you will know that you have followed your
professional and accounting standards in your advice.
4. What shall I do? 4. Select the best or most ethical alternative considering all
the circumstances and consequences.
• Alternative 3b is the best and most ethical alternative.
14
SUGGESTED ANSWERS TO DISCUSSION
QUESTIONS
D8.1 In this chapter and in Chapter 7 the controller of AOE played a major role in
evaluating and recommending ways to use IT to improve efficiency and
effectiveness. Should the company’s chief information officer make these
decisions instead? Should the controller be involved in making these types of
decisions? Why or why not?
There are several reasons why accountants should be involved in decisions

about investing in IT and not leave such decisions solely to IS professionals.
First, the economic merits of proposed IT investments need to be subjected to

the same kind of detailed analysis as any other major capital investment (e.g.
plant expansions). Accountants are skilled in making such analyses.
Second, the operational feasibility of IT investments must also be evaluated.

How will the investment affect daily operating procedures? Will the system be
able to adapt as the company changes the nature of its operations? As one of
the major users of the information system, accountants need to participate in
these analyses.
Third, what is the long-run viability of the proposed supplier? Here again
accountants can make a valuable contribution by analysing the long-run
economic viability of proposed vendors.
D8.2 Companies such as Woolworths have moved beyond JIT to vendor-managed

inventory (VMI) systems. Discuss the potential advantages and disadvantages
of this arrangement. What special controls, if any, should be developed to
monitor VMI systems?
Vendor Managed Inventory (VMI) is essentially Electronic Data Interchange

(EDI) where the retailer has given their vendor access rights to their point-of-
sale (POS) system. Some of the potential advantages and disadvantages of
moving to a VMI are:
Advantages:
• Lower cost. Retailers are able to ‘outsource’ their inventory management

to their vendors.
• Potentially reduced lost sales. When vendors are able to meet product
demand, the company can minimise lost sales due to stockouts.
• More accurate forecasts. Since vendors have more data from the
retailers, they are able to more accurately forecast and meet demand for
their products.
15
Disadvantages:
• Cost. Retailers and vendors must incur the costs of acquiring the technology
and changing the organisation to a VMI arrangement.
• Security. The retailer puts one of their most valuable assets, their sales
data, in the hands of their vendors. Such significant access to retailer data
opens the door to a myriad of data and system security issues such as data
alteration and deletion, unauthorised access to non-sales related data,
inadvertent loss of data, and corporate espionage.
• Over supply. The vendor can ship more inventory than the retailer needs
to meet the demand.
Controls:
The following controls could be implemented to monitor VMI systems:
1. Monitor inventory levels. At least at first, and then periodically thereafter,

the retailer should monitor inventory levels to determine whether the
vendor is sending enough inventory to prevent stock outs but not too much
inventory that is slow to sell.
2. Analyse inventory costs. If VMI is working, then overall inventory costs

should decline.
3. Intrusion detection systems. To determine if the vendor has

compromised the security of the retailer’s system.
4. Monitor unauthorised access attempts. All attempts by vendors to

access non-VMI related areas of the retailer’s system should be
investigated.
D8.3 Procurement cards are designed to improve the efficiency of small non-
inventory purchases. What controls should be placed on their use? Why?
Since the primary benefit of procurement cards is to give employee’s the ability
to make small non-inventory purchases necessary for their area of
responsibility - be it office supplies, computer or office equipment, or meals
and/or travel expenses - a formal approval process for all purchases would
negate the benefit of the procurement card. Therefore, the focus of
procurement card controls should be on the initial issuance of the card and
subsequent reviews and audits of purchases made by employees entrusted with
procurement cards.
Employees receiving cards must be properly trained in their proper use and in
the procurement card controls implemented by the organisation. If employees
know that any purchase they make can be the subject of subsequent review
and audit, they are more likely to make legitimate purchases.
16
Subsequent reviews and audits must also require proper documentation related
to each purchase made with the procurement card. During procurement card
training, it should be emphasised that employees will be required to produce
original receipts or other formal documentation for all items purchased.
Budgets and detailed variance analyses are an important detective control to

identify potential problems before they get too large.
D8.4 Should every company switch from the traditional three-way matching process
(purchase orders, receiving reports, and supplier invoices) to the two-way
match (purchase orders and receiving reports) used in ERS? Why or why not?
Switching to ERS simplifies accounts payable and eliminates a major

source of problems: inconsistency between supplier invoices and prices
quoted when placing the order. However, ERS requires firm
commitments to prices by suppliers – which may not be feasible for
certain types of products like commodities.
ERS also requires that receiving dock employees exercise great care in
counting merchandise received.
It also requires configuring the information system to automatically

calculate and track payment due dates without the benefit of a reminder
provided by receiving a supplier invoice.
17
SUGGESTED SOLUTIONS TO THE PROBLEMS
P8.1 Match the term in the left column with their appropriate definition in the right
column. Note there are more definitions in the right column than terms in the left
column.
Terms Definitions
1. _n__ economic order a. A document that creates a legal obligation
quantity to buy and pay for goods or services.
2. __f_ materials requirements b. The method used to maintain the cash
planning (MRP) balance in the petty cash account.
3. _e__ Just-in-time (JIT) c. The time to reorder inventory based on the
inventory system quantity on hand falling to predetermined
level.
4. __g_ purchase requisition d. A document used to authorise a reduction in
accounts payable when merchandise is
returned to a supplier.
5. __b_imprest fund e. An inventory control system that triggers
production based upon actual sales.
6. __a_ purchase order f. An inventory control system that triggers
production based on forecasted sales.
7. _s__ kickbacks g. A document only used internally to initiate
the purchase of materials, supplies, or
services.
8. __r_ procurement card h. A process for approving supplier invoices
based on a two-way match of the receiving
report and purchase order.
9. __p_ blanket purchase i. A process for approving supplier invoices
order based on a three-way match of the
purchase order, receiving report, and
supplier invoice.
10. _h__ evaluated receipts j. A method of maintaining accounts payable
settlement (ERS) in which each supplier invoice is tracked and
paid for separately.
11. __m_ disbursement k. A method of maintaining accounts payable,
voucher which generates one cheque to pay for a set
of invoices from the same supplier.
12. _q_ receiving report l. Combination of a purchase order, receiving
report, and supplier invoice that all relate to
the same transaction.
13. __d_ debit memo m. A document used to list each invoice being
paid by a cheque.
14. _o__ vendor managed n. An inventory control system that seeks to
inventory minimise the sum of ordering, carrying, and
stockout costs.
15. __l_ voucher package o. A system whereby suppliers are granted
access to point-of-sale (POS) and inventory
data in order to automatically replenish
18
inventory levels.
16. _j__ non-voucher system p. An agreement to purchase set quantities at
specified intervals from a specific supplier.
17. _k__ voucher system q. A document used to record the quantities
and condition of items delivered by a
supplier.
r. A special purpose credit card used to
purchase supplies.
s. A fraud in which a supplier pays a buyer or
purchasing agent in order to sell its
products or services.
19
P8.2 EXCEL PROJECT
a. Expand the cash flow budget you created in Problem 7.2 to include a row for expected cash outflows equal to 77% of
the current month’s sales.
b. Also add a row to calculate the amount of cash that needs to be borrowed in order to maintain a minimum cash
balance of $50 000 at the end of each month.
c. Add another row to show the cash inflow from borrowing.
d. Add another row to show the cumulative amount borrowed.
e. Add another row to show the amount of the loan that can be repaid, being sure to maintain a minimum ending
balance of $50 000 each month.
Copyright ©2013 Pearson Australia (a division of Pearson Australia Group Pty Ltd) – 9781442542594/Romney/Accounting Information Systems/1e
20
21
Explanation of solution:
1. Always use references to assumption cells in the formulas. For example, the cash sales row formulas should be that
column’s sales times cell D6 (e.g. in February, cash sales cell has this formula: =E19*$D$6
2. The solution rounds sales to the nearest dollar, to keep it looking clean, using this formula in February:
=ROUND(D19*(100%+$D$5),0)
3. Collections from prior sales row is set to zero in January; then it gets progressively more complex as follows:
a. February: =D19*$D$7
b. March: =(D19*$D$8)+(E19*$D$7)
c. April: =(D19*$D$9)+(E19*$D$8)+(F19*$D$7)
4. Tentative cash balance = beginning balance + cash sales that month + collections of prior month’s cash sales – current
expenditures: =D18+D20+D21-D22
5. Amount borrowed = zero if tentative balance >= desired balance, otherwise the amount of the shortfall:
=IF(D23>=D24,0,(D24-D23))
6. Cumulative loan initially = starting loan balance plus that month’s borrowing: =$D$14+D25. Subsequently, it equals
prior month’s balance plus new borrowing less repayments: =D27+E25-D28
Loan repayment is calculated as the excess of cash available over desired ending balance, but never more than the amount of
the loan. Therefore, need a nested if statement in which first test whether tentative cash balance exceeds desired balance and
then if it does, compares excess cash available to outstanding loan balance: =IF(D26>50000,IF(D26-50000>D27,D27,D26-
50000),0)
22
P8.3 Last year the Diamond Manufacturing Company purchased over $10 million
worth of office equipment under its ‘special ordering’ system, with individual
orders ranging from $5000 to $30 000. Special orders are for low-volume items
that have been included in a department manager’s budget. The budget, which
limits the types and dollar amounts of office equipment a department head can
requisition, is approved at the beginning of the year by the board of directors.
The special ordering system functions as follows:
• Purchasing—a purchase requisition form is prepared and sent to the purchasing
department. Upon receiving a purchase requisition, one of the five purchasing
agents (buyers) verifies that the requester is indeed a department head. The
buyer next selects the appropriate supplier by searching the various catalogues
on file. The buyer then phones the supplier, requests a price quote, and places a
verbal order. A pre-numbered purchase order is processed, with the original sent
to the supplier and copies to the department head, receiving, and accounts
payable. One copy is also filed in the open requisition file. When the receiving
department verbally informs the buyer that the item has been received, the
purchase order is transferred from the open to the filled file. Once a month, the
buyer reviews the unfilled file to follow up on open orders.
• Receiving—the receiving department gets a copy of each purchase order. When
equipment is received, that copy of the purchase order is stamped with the date,
and, if applicable, any differences between the quantity ordered and the quantity
received are noted in red ink. The receiving clerk then forwards the stamped
purchase order and equipment to the requisitioning department head and
verbally notifies the purchasing department that the goods were received.
• Accounts payable—upon receipt of a purchase order, the accounts payable clerk
files it in the open purchase order file. When a vendor invoice is received, it is
matched with the applicable purchase order, and a payable is created by
debiting the requisitioning department’s equipment account. Unpaid invoices are
filed by due date. On the due date, a cheque is prepared and forwarded to the
treasurer for signature. The invoice and purchase order are then filed by
purchase order number in the paid invoice file.
• Treasurer—cheques received daily from the accounts payable department are
sorted into two groups: those over and those under $10 000. Cheques for less
than $10 000 are machine signed. The cashier maintains the cheque signature
machine’s key and signature plate and monitors its use. Both the cashier and
the treasurer sign all cheques over $10 000.
23
Required
a. Prepare a document flowchart in good form for the system described above.
24
b. Recommend how the system could be changed to overcome some of the
inefficiencies you identified by completing part a.
c. Describe how you would reengineer the company’s expenditure cycle activities to
make maximum use of modern technologies (e.g. EDI, EFT, barcode scanning,
and electronic forms in place of paper documents). (CPA/CMA Examination,
adapted)
b c
Compare requested amounts to total System can automatically compare the
budget and YTD expenditures. requested amount to the remaining budget.
Solicit quotes/bids for large orders. EDI and internet can be used to solicit bids.
Prepare a vendor performance report Vendor performance ratings can be updated
and use it when selecting vendors. automatically and made available to buyer.
Black out quantities ordered on copy Do not permit receiving clerks to access
of Purchase Order sent to receiving quantities on purchase orders.
Provide incentives if discrepancies Request barcoding or RFID tagging of all
between packing slip and actual items and use readers to check in all
delivery are detected. deliveries.
Still provide incentives to detect
discrepancies.
Send written notice of equipment Receiving data and comments entered via
receipt to purchasing. online terminals and routed to purchasing.
Send written notice of equipment Configure system to notify accounts payable
receipt to accounts payable. automatically of equipment receipt.
Verify mathematical accuracy of Automatic verification of mathematical
vendor invoice. accuracy of vendor invoice.
Compare/verify invoiced quantity with System verifies invoice quantity with
quantity received. quantity received.
Obtain confirmation from requisitioner Configure system to require confirmation of
of the acceptability of equipment equipment acceptability prior to approving
ordered prior to recording payable. invoice for payment.
Send voucher package (purchase Configure system to match invoices
order and receiving report) to the automatically with supporting documents.
Treasurer along with approved
invoice.
Treasurer should mark voucher Configure system to mark supporting
package as PAID when cheque is documents as used when invoice is paid.
signed.
Bank account should be reconciled by Bank account should be reconciled by
someone other than Accounts Payable someone other than Accounts Payable or the
or the treasurer. treasurer.
25
P8.4 The ABC Company performs its expenditure cycle activities using its integrated
ERP system as follows:
• Employees in any department can enter purchase requests for items they
note as either out of stock or in small quantity.
• The company maintains a perpetual inventory system.
• Each day, employees in the purchasing department process all purchase
requests from the prior day. To the extent possible, requests for items
available from the same supplier are combined into one larger purchase
order to obtain volume discounts. Purchasing agents use the internet to
compare prices in order to select suppliers. If an internet search discovers
a potential new supplier, the purchasing agent enters the relevant data in
the system, thereby adding the supplier to the approved supplier list.
Purchase orders above $10 000 must be approved by the purchasing
department manager. EDI is used to transmit purchase orders to most
suppliers, but paper purchase orders are printed and mailed to suppliers
who are not EDI capable.
• Receiving department employees have read-only access to outstanding
purchase orders. Usually, they check the system to verify existence of a
purchase order prior to accepting delivery, but sometimes during rush
periods they unload trucks and place items in a corner of the warehouse
where they sit until there is time to use the system to retrieve the relevant
purchase order. In such cases, if no purchase order is found, the receiving
employee contacts the supplier to arrange for goods to be returned.
• Receiving department employees compare the quantity delivered to the
quantity indicated on the purchase order. Whenever a discrepancy is
greater than 5%, the receiving employee sends an email to the purchasing
department manager. The receiving employee uses an online terminal to
enter the quantity received before moving the material to the inventory
stores department.
• Inventory is stored in a locked room. During normal business hours, an
inventory employee allows any employee wearing an identification badge
to enter the storeroom and remove needed items. The inventory storeroom
employee counts the quantity removed and enters that information in an
online terminal located in the storeroom.
• Occasionally, special items are ordered that are not regularly kept as part
of inventory, from a specialty supplier who will not be used for any regular
purchases. In these cases, an accounts payable clerk creates a one-time
supplier record.
• All supplier invoices (both regular and one-time) are routed to accounts
payable for review and approval. The system is configured to perform an
automatic three-way match of the supplier invoice with the corresponding
purchase order and receiving report.
• Each Friday, approved supplier invoices that are due within the next week
are routed to the treasurer’s department for payment. The cashier and
treasurer are the only employees authorised to pay funds, either by EFT or
by printing a cheque. Cheques are printed on a dedicated printer located in
the treasurer’s department, using special stock paper that is stored in a
locked cabinet accessible only to the treasurer and cashier. The paper
cheques are sent to accounts payable to be mailed to suppliers.
• Monthly, the treasurer reconciles the bank statements and investigates any
discrepancies with recorded cash balances.
Required
a. Prepare a dataflow diagram at level 0 for ABC’s current system.
26
Departments
Purchase request
1.0
Collate purchase orders
Order
Suppliers
3.0
Prepare order
Accounts payable
2.0
Add new supplier Purchase order
Order
Orders
4.0 Outstanding order

Orders Approve order
Supplier Receiving
27
Purchasing
1.0
Check outstanding
Orders orders
Orders
Orders
Discrepancies
2.0
Supplier Bill of lading Check receipts with
order
Accounts payable
Receiving report
Receiving report
3.0
Enter goods received
Inventory
Receiving report
Various
Inventory removed
departments
Inventory requisition
4.0
Enter removed items
28
Treasuary
Departments Voucher packet
Cheques &
EFT voucher
5.0
Special purchase Update accounts
request payable
4.0
Approve invoices for
payment
Invoice
Accounts payable
1.0 subsidiary ledger
Add new supplier
Invoice
INvoice
Suppliers
3.0
2.0 Match PO, RR
Prepare special & invoice
purchase order Orders Purchasing
Orders Order Invoice Receiving report
Receiving
Supplier department
29
Accounts payable
Voucher packet
Cheques & EFT voucher
1.0
Approve and prepare
payment
General ledger
2.0
Reconcile
bank account
and cash balances
Bank
statement
Bank
30
b. Recommend how the system could be changed to overcome some of the
inefficiencies you identified by completing part a.
c. Describe how you would reengineer the company’s expenditure cycle
activities for recommendations made in part b.
b c
Purchase requests are not reviewed Purchase requisitions should be reviewed
and approved prior to submission. This and approved by the originating
can result in ordering unnecessary department’s manager prior to being
items. processed.
A formal inventory control system A formal inventory control system should
(EOQ, MRP, or JIT) is not used. This is be used to plan purchases to minimise the
likely to result in both shortages and combined costs of stock outs, excess
excess inventory. inventory, and ordering costs.
There is no mention of periodic physical Regular physical counts of inventory need
counts of inventory. Thus, the to be conducted.
perpetual inventory records are likely Discrepancies with the perpetual inventory
to become inaccurate over time. It will records need to be promptly investigated.
also not be possible to detect theft of
inventory in a timely manner.
Any purchasing agent can add new Restrict the number of employees who can
suppliers to the approved supplier make changes to the approved supplier list.
master file without approval. As a Periodically print a report of all changes and
result, the approved supplier master review them to ensure that they have all
file may contain unreliable or non- been approved.
existent suppliers.
Selection of suppliers is based solely on Criteria for selecting suppliers should
price. As a result, inferior quality include information on supplier reliability
products could be purchased, resulting and product quality.
in increased costs due to warranty The system should be configured to track
repairs, scrap, or rework. actual supplier performance against
promised delivery dates.
Receiving department employees have Reconfigure the system and do not permit
access to the quantities ordered on receiving department employees’ to access
purchase orders. This may lead them quantity ordered information.
to not actually count every delivery,
especially during busy times, but
instead simply visually compare the
quantity delivered to the quantity
ordered.
Receiving department employees Create a policy requiring receiving
sometimes unload deliveries without department employees to always verify the
verifying the existence of an approved existence of a valid purchase order before
purchase order. This wastes time in accepting delivery.
unloading and then subsequently Publish and enforce sanctions for violating
contacting the supplier to return the this policy.
unordered items. Schedule additional help during busy
periods.
31
Receiving department employees Configure the system to compare quantities
inform purchasing of discrepancies received to quantities ordered. The system
between quantities received and should send discrepancies exceeding a
ordered greater than 5%. They may tolerable deviation directly to the
fail to do this during busy periods, purchasing manager.
resulting in failure to timely resolve
problems.
The identity of employees removing The identity of employees removing
inventory from the storeroom is not inventory should be recorded. This can be
recorded. This makes it difficult to done either by swiping an ID badge or by
investigate the cause of any entering a user ID in an online terminal.
discrepancies between recorded and
actual counts of inventory.
Accounts payable clerks can create The system should be configured to print a
one-time supplier records without list of all one-time suppliers. Management
review and subsequently approve should review that list regularly. Accounts
payments to those suppliers. This payable should not be able to create any
creates the possibility of fraudulent new supplier records – that task should
disbursements. only be done by the purchasing manager.
There is no indication that supporting The system should be configured to mark

documents in the voucher package are supporting documents in a voucher
marked “cancelled” or “paid” after package as PAID when used to generate a
being used to issue a cheque. This can cheque or EFT payment.
result in duplicate payments.
Cheques are returned to accounts Cheques should be mailed by the cashier or

payable to be mailed to suppliers. This the cashier’s assistant.
provides an opportunity to intercept
and alter a cheque.
The treasurer, who has the ability to Someone other than the cashier or
write cheques and authorise EFT treasurer should reconcile the bank account
payments, also reconciles the bank statement.
account. This provides an opportunity
to commit fraud and cover up the
discrepancy by altering the
reconciliation.
32
P8.5. Alden Ltd has hired you to review its system for the purchase,
receipt, storage, and issuance of raw materials. You observed the
following:
• Raw materials, which consist mainly of high-cost electronic
components, are kept in a locked storeroom. Storeroom personnel
include a supervisor and four clerks. Raw materials are removed
from the storeroom only upon written or oral authorisation by a
production supervisor.
• No perpetual inventory records are kept; hence, the storeroom clerks
do not keep records for goods received or issued. To compensate,
the storeroom clerks perform a physical inventory count each month.
• After the physical count, the storeroom supervisor matches quantities
on hand against a predetermined reorder level. If the count is below
the reorder level, the supervisor enters the part number on a
materials requisition list that is sent to the accounts payable clerk.
The accounts payable clerk prepares a purchase order for each item
on the list and mails it to the supplier from whom the part was last
purchased.
• The storeroom clerks receive the ordered materials upon their arrival.
The clerks count all items and verify that the counts agree with the
quantities on the bill of lading. The bill of lading is then initialled,
dated, and filed in the storeroom to serve as a receiving report.
33
Required
a. Prepare a system flowchart that exist in Alden’s expenditure cycle.
Storeroom
Integrated
datadase
Inventory count
Update
Prepare PO
databases
PO Bill of lading
Supplier
34
b. Suggest changes to the current system and procedures to overcome
any issues noted in part a.
Recommended Improvements
Raw materials should be removed from the storeroom only upon written
authorisation from an authorised production foreman.
Authorisation forms should be pre-numbered and accounted for, list quantities
and job or production number, and be signed and dated.
A perpetual inventory system should be established under the control of
someone other than the storekeepers. The system should include quantities
and values for each item of raw material.
Total inventory value per the perpetual records should be agreed to the general
ledger at reasonable intervals.
When physical counts are taken, they should be compared to the perpetual
records. Where differences occur, they should be investigated. If the perpetual
records are in error they should be adjusted.
Controls should be established over obsolescence of stored materials.
Requests for purchases of raw materials should come from Production

department management and be based on production schedules and quantities
on hand per the perpetual records.
The purchasing function should be centralised in a separate department.
Pre-numbered purchase orders should originate from and be controlled by this
department.
A copy of the purchase order should be sent to the accounting and receiving
departments (with the quantity ordered blacked out on the copy sent to
receiving).
The purchasing department should obtain competitive bids on all purchases over
a specified amount.
A receiving department should be established. Personnel in this department
should count or weigh all goods received and prepare a pre-numbered receiving
report.
A copy of the receiving report should accompany the inventory when it is
transferred to storage and be signed there by the inventory staff.
The copy signed by storage personnel should be sent to Accounts Payable to
show that the items have been received and placed into inventory.
The goods need to be inspected for quality standards promptly upon receipt.
c. Describe how you would implement an integrated ERP system using

the latest developments in IT to implement recommendations made
in part b. (CPA Examination, adapted)
• The system can be configured to restrict access to only the

information needed to perform assigned functions. For example,
the receiving dock employees would not be able to create
purchase orders, nor see the quantity ordered.
35
• The system can automatically assign numbers to all documents
and track them to identify unfilled orders. Sequence checks can
automatically be performed on all electronic documents assigned
numbers by the system.
• Removal of inventory from the storeroom can be documented by

having the employee removing the inventory swipe his or her ID
badge (or by manually entering their user ID and password via a
terminal).
• The system can automatically maintain the perpetual inventory

records. Periodic physical counts of inventory will continue to be
necessary, however, and any discrepancies with recorded
amounts investigated.
• The company should adopt either MRP or JIT inventory to

improve the efficiency of ordering inventory.
• Digital signatures and digital time stamps can be used to verify

the authenticity of all electronic documents.
• EDI and the internet can be used to solicit and receive

competitive bids.
• Suppliers should be asked to barcode or RFID-tag all items so

that receiving can use IT to check in all deliveries.
• Comments by inspectors should be entered via online terminals.
36
SUGGESTED ANSWERS TO THE CASES
C8.1: RESEARCH PROJECT: IMPACT OF IT ON EXPENDITURE CYCLE
ACTIVITIES
Search popular business and technology magazines (Business Week, Forbes,

Fortune, CIO, T3, Australian IT, etc.) to find an article about an innovative
use of IT that can be used to improve one or more activities in the
expenditure cycle. Write a report that:
a. Explains how IT can be used to change expenditure cycle activities.
Answers will vary depending upon the article selected.
b. Discusses how new technologies including ERP can change the way firms
can efficiently and effectively handle expenditure.
Answers will vary depending upon the article selected.
37
Another random document with
no related content on Scribd:
Kultursprachen übersetzten Werke wirkten, der deutschen Zoologie
eine Anerkennung erzwungen, die von keinem anderen Forscher in
ähnlichem Maße ausging und die höchstens der Wirkung Cuviers zu
vergleichen ist. Als Lehrer hat Haeckel eine ausgedehnte Schule von
Entwicklungstheoretikern sowohl wie von mehr empirisch tätigen
Forschern begründet, der die Vertiefung der Entwicklungslehre mit
ihre wesentlichsten Züge verdankt. Der Rahmen unserer Arbeit,
sowie der Umfang und die Aktualität des Stoffes verbietet uns, mehr
als in diesen Andeutungen die geschichtliche Stellung Haeckels zu
umreißen.
Im Anschluß an Haeckel ist W. P r e y e r (1841-1897) vor allem zu
nennen, als der Vertreter der Entwicklungslehre in der Physiologie.
In zahlreichen gedankenreichen Aufsätzen und Werken ist Preyer für
sie eingestanden und hat ihr gesucht auch auf praktisch wichtige
Fragen Einfluß zu verschaffen. Es sind hier besonders
erwähnenswert: Die Seele des Kindes (1882), Die spezielle
Physiologie des Embryo (1884), Naturforschung und Schule (1887),
worin er im Bunde mit Haeckel der Entwicklungslehre Eingang in die
Schule zu erkämpfen sucht. Eine neue Grundlage für die Systematik
der Physiologie brachte Preyers Einleitung in die allgemeine
Physiologie (1883).
4. Amerikanische Zoologie.
Die amerikanische Zoologie setzt mit Beginn des 19.
Jahrhunderts ein, mit B . S . B a r t o n (1766-1815), der über
Faszination durch die Klapperschlange und über das Opossum
schrieb. 1808-1814 erschien die Ornithologie von A . W i l s o n (1766-
1813), B o n a p a r t e komplettierte 1825-1833 Wilsons Werk.
Gleichzeitig erschien R i c h . H a r l a n s Fauna von Amerika und J . D .
G o d m a n s Werk über nordamerikanische Säugetiere (1826-1828).
1847 tritt die Smithsonian Institution in Tätigkeit und damit beginnen
fortgesetzte zoologisch-systematische Studien. 1846 begründet L .
Agassiz das Studium der vergleichenden Anatomie und
Entwicklungsgeschichte nach europäischem Muster in Cambridge
Mass. Neue Impulse gehen sodann von Darwins Werken aus,
insbesondere tritt der hoch begabte und vielseitige E . D . C o p e
(1840-1897) an die Spitze der amerikanischen
Entwicklungstheoretiker und Paläontologen. Der wesentliche
Bestand der amerikanischen Zoologie gehört der unmittelbaren
Gegenwart an und hat eine Ausdehnung angenommen, die für die
positivistisch zersetzte Wissenschaft Europas eine gefährliche und
ebenbürtige Konkurrenz bedeutet.
IX. Zoographie nach der Mitte des
18. Jahrhunderts.
1. Fortbildung der Klassifikation.

Wenn von der weiteren Entwicklung der Zoographie und
Systematik von Linné an im folgenden Abschnitt die Rede ist, so
versteht sich von selbst, daß die Hauptentwicklung sich innerhalb
der französischen Zoologie vollzieht und die Zoologie anderer
Länder auch bei großartigen Leistungen doch meistens nur als
Partnerin, selten aber überlegen an die Seite tritt. Daher fällt ein Teil
des hierhergehörigen Stoffes mit der in den vorhergehenden
Abschnitten behandelten Geschichte zusammen. Vergleichen wir die
Zahl der beschriebenen Arten der wichtigsten Tiergruppen zu Linnés
Zeiten und in der Gegenwart, so erhellt daraus eine solche
Massenzunahme unserer Kenntnis, daß eine Aufsplitterung wie bei
der Zoographie bei der Systematik als notwendige Folge erscheint.
Einer Zusammenstellung von M ö b i u s zufolge haben von der
zehnten Auflage Linnés, also 1758-1898 im ganzen 2700 Autoren
über 400000 Spezies von Tieren bekannt gemacht. Auf die
einzelnen Gruppen entfallen folgende Zahlen:
Zahl der Spezies Ungefähre

in Linnés Zahl der jetzt
Tierklassen Systematik, bekannten
10. Aufl. 1758 Spezies
Säugetiere 183 3 500
Vögel 444 13 000
Reptilien und Amphibien 181 5 000
Fische 414 12 000
Schmetterlinge 542 50 000
Käfer 595 120 000
Hymenoptern 229 38 000
Diptern 190 28 000
Neuroptern 35 2 050
Orthoptern 150 13 000
Hemiptern 195 30 000
Spinnen 78 20 000
Tausendfüßler 16 3 000
Krebse 89 8 000
Pyknogoniden — 150
Würmer 41 8 000
Manteltiere 3 400
Moostiere 35 1 000
Mollusken und Brachiopoden 674 50 000
Echinodermen 29 3 000
Schwämme 11 1 500
Protozoen 28 6 000
Summe der Arten 4 236 418 500
Wenn wir diesen Zeitraum überblicken, so hat sich die scheinbar

einfachste Arbeit, die sorgfältige Beschreibung und die Umgrenzung
der Arten nach übereinstimmenden konstanten Merkmalen, am
meisten gelohnt, in zweiter Linie die Wiedereinführung anatomischer
Prinzipien in die Klassifikation durch Cuvier, endlich die Verknüpfung
mit den Tatsachen der räumlichen und zeitlichen Verbreitung. Relativ
geringer Wert kommt aber den Resultaten der Klassifikation zu, da
durchgehends das reale Band der Blutsverwandtschaft, auch wo es
geahnt wurde, vor 1860 nicht zu Schlußfolgerungen für die
Systematik verwertbar wurde, dann aber zu einer überraschenden
Entwertung gerade der oberen Gruppen des Systems führte,
während die Art ihre praktische Bedeutung behielt. Es kann daher
nicht Aufgabe unserer kurzen Darstellung sein, die Resultate der
Klassifikation ausführlich zu behandeln, vielmehr sind nur die
wichtigsten Fortschritte der Klassifikation sowie die bedeutendsten
Vermehrungen und Bereicherungen unserer Kenntnis durch Reisen
hervorzuheben.
In diesen Dingen zeigt die Periode von Linné bis zur Mitte des
Jahrhunderts stark einheitliche Züge. Reisen zugunsten der Zoologie
werden jetzt nicht nur etwas häufiger, sondern man nimmt geschulte
Naturforscher mit an Bord. Doch ist ihre Tätigkeit noch in erster Linie
auf Sammlung für Museumszwecke berechnet, nicht mit
zootomischen oder physiologischen Absichten verbunden. Die
Museen haben noch den Charakter von Raritätenkammern, ihr Inhalt
ist universal, sie enthalten also nicht getrennte Abteilungen für
Belehrung und wissenschaftliche Arbeit und sind noch an die
europäischen Kulturstätten gebunden, nicht universal verbreitet mit
lokal spezialisierten Absichten; ebenso sind die Tiergärten noch
Schaustellungen fürs Publikum, nicht Versuchsstationen, wie sich
denn auch die Laboratorien noch nicht von den Museen ablösen und
den Lebensbedingungen der zu erforschenden Lebewelt anpassen.
Alle die weiteren Entwicklungen gehören erst der zweiten Hälfte des
Jahrhunderts an.
Es versteht sich fast von selbst, daß die Schilderung einzelner
Tiergruppen unter steigender Spezialisierung an Umfang und
Genauigkeit zunahm. Es würde zu weit führen, wollten wir all dieser
Monographien gedenken, die, abgesehen von den geschichtlich
bedeutungsvollen Persönlichkeiten, eine Menge sorgfältiger und
fleißiger Einzelarbeiter beschäftigt haben. Nach verschiedenen
Seiten sind indes die z o o g r a p h i s c h e n S p e z i a l g e b i e t e zu
allgemeinerer Bedeutung gelangt, wovon hier kurz Notiz genommen
werden muß.
Die Protozoen traten aus dem Zustande eines Lieblingsobjektes
dilettierender Mikroskopiker mit dem Auftreten der Zellenlehre; v o n
S i e b o l d bildete namentlich die Lehre von ihrer Einzelligkeit aus. In
ihrer Bedeutung für die Entwicklungslehre vielfach überschätzt,
gewannen sie wiederum gegen Ende des Jahrhunderts an Aktualität
durch den Einblick in ihren Wert als Krankheitserreger für die
medizinische Zoologie.
Über die Schwämme herrschten anfangs des Jahrhunderts noch
sehr unklare Vorstellungen, bis G r a n t 1826 die Kenntnis ihres Baues
zu fördern begann und die Untersuchung ihrer Entwicklung sie den
Zölenteraten nahe brachte.
Die Gasträaden wurden als Übergangsgruppe zwischen
Protozoen und Metazoen 1876 von Haeckel aufgestellt.
Die Zölenteraten bildeten während des ganzen Jahrhunderts ein
Hauptfeld der Untersuchung für die Fragen des von J . S t e e n s t r u p
entdeckten Generationswechsels, der tierischen Kolonien, der
Ökologie des Meeres (Korallen), sowie insbesondere der
vergleichenden Histologie und Physiologie.
Die Echinodermen erfuhren mit der Ausbildung der marinen
Zoologie konstanten Zuwachs an Arten und Typen (Krinoiden),
bewährten sich als eine der geeignetsten Gruppen zum Vergleich
zwischen lebenden und fossilen Formen. Die wichtigste Entdeckung
auf diesem Gebiet glückte J o h . M ü l l e r , der zuerst ihre
Entwicklungsgeschichte aufhellte.
Die Würmer lösten sich als Gruppe immer mehr aus dem von
Linné geschaffenen Verbande mit den übrigen Wirbellosen, um
jedoch schließlich wieder ganze große Stämme in sich aufzunehmen
(Bryozoa, Brachiopoda). Mit R u d o l p h i , der ihre Artenzahl auf das
Dreifache steigerte, beginnt die Einsicht in die medizinische
Bedeutung der Schmarotzer und ihrer Entwicklungsstadien, die denn
in der Folgezeit die schönsten Entdeckungen zur Reife brachte. Die
Helminthologie wurde dadurch zur Basis einer umfassenderen
Parasitenkunde, die heute die Bakterien und Protozoen einschließt.
Das Studium der Insekten löste sich mit vermehrter Kenntnis der
Arten allmählich mehr aus dem Verbande der übrigen Zoologie, als
je zuvor; doch werden sie stets wieder von hoher theoretischer
Bedeutung, sowie allgemeinere Fragen in der Zoologie auftreten, so
für die vergleichende Anatomie am Anfang, für die Geographie und
Ökologie mehr am Ende des Jahrhunderts.
Die vereinzelten Formen, wie Peripatus, Zephalodiskus,
Myzostoma usw., ja auch die Chordaten werden in ihrer hohen
Bedeutung als Bindeglieder sehr entfernter Stämme erst von der
zweiten Hälfte des Jahrhunderts ab gewürdigt (A . K o w a l e w s k i ,
Entwicklungsgeschichte der Aszidien 1866, von Amphioxus 1867,
der Salpen 1868). Die Mollusken waren durch Cuvier zu klassischen
Objekten der Invertebratenanatomie geworden. Immer mehr trat
daher an Stelle der Konchyliologie, die nur die Schalen
berücksichtigte, das Studium des gesamten Molluskenorganismus
und seiner Entwicklung.
Die Klassifikation der Fische nahm durch Va l e n c i e n n e s einen
glänzenden Anfang. Immer mehr gewannen die Fische an
Wichtigkeit für die Beurteilung des gesamten Vertebratentypus,
wogegen die weitere Klassifikation wenig Befriedigung brachte.
Die Reptilien und Amphibien der Gegenwart erhielten, nächst
den Säugetieren, am meisten ihre Beleuchtung von der Überfülle der
fossilen Formen, die zum Vorschein kamen. Dadurch fiel die auf
Grund der lebenden allein aufgestellte von B r o g n i a r t 1799
vorgenommene Trennung in Reptilien und Amphibien dahin.
Die Vögel boten realen Zuwachs an geographisch interessanten
Formen, namentlich an fossilen und subfossilen. Zu einer
befriedigenden Klassifikation derselben kam es nicht, trotz
anerkennenswerter Versuche, die Anatomie in den Dienst der
Systematik zu stellen.
Wohl die größte Veränderung ist in der Kenntnis der Säugetiere
im Laufe des Jahrhunderts und namentlich gegen Ende desselben
eingetreten. Die Monotremen, die um die Wende des 18.
Jahrhunderts entdeckt wurden, erwiesen sich als Bindeglieder nach
den Reptilien; mit Cuvier begann die Beschreibung der fossilen
Formen, deren Zahl sich am Ende des Jahrhunderts auf ca. 4000
beläuft. Nimmt zunächst die Zahl der Säugetierordnungen,
namentlich auf Grund der Weichteilanatomie zu, so reduziert sie sich
wieder, je mehr fossile Bindeglieder bekannt werden, deren
Reichtum die heutige Säugetierwelt, mit Ausnahme weniger
Gruppen (Nager, Raubtiere, Paarhufer), als eine reduzierte
erscheinen läßt. In der Säugetierklasse bildet sich unsere
Systematik am meisten zu einer genealogischen um durch
Kombination der Verbreitungsgeschichte mit der
Stammesgeschichte. Die Stellung des Menschen schwankt, bis sie
durch Haeckel endgültig fixiert wird.
2. Reisen und Meeresforschung.

Für Naturforscher, wie sie jetzt auf R e i s e n mitgenommen
werden, hatte bereits B u f f o n eine Anleitung verfaßt. In erster Linie
stehen denn auch hier die Franzosen da, so um die Wende des
Jahrhunderts P é r o n , L e s u e u r , L e s s o n , G a r n o t , Q u o y u. G a y m a r d
(1826-1829 Astrolabe), E y d o u x u. S o u l e y e t (1836-1837 Bonite);
aber auch Engländer, Russen (C h a m i s s o 1815-1818 auf dem
Rurik), Nordamerikaner (W i l k e s 1838-1842). A z a r a bereiste
Zentralsüdamerika von 1781-1801, A l e x a n d e r v o n H u m b o l d t mit
B o n p l a n d das nördliche Südamerika (1799-1804), der Prinz W i e d -
Neuwied 1815-1821 Brasilien, 1817 drei österreichische
Naturforscher, darunter N a t t e r e r , sowie S p i x und M a r t i u s , später
R e n g g e r (1818-1826), P ö p p i g , v. Ts c h u d i , C a s t e l n a u und
S c h o m b u r g k ebenfalls verschiedene Gebiete desselben Kontinents.
Auch die Tierwelt Nordamerikas wurde durch eine große Zahl von
Forschern fixiert. Australiens Tierwelt erschloß besonders J o h n
G o u l d von 1838 ab, die Sundainseln insbesondere R a f f l e s ,
H o r s f i e l d und die Holländer R e i n w a r d t und Te m m i n c k , Japan P h i l .
v o n S i e b o l d . Südafrika wurde von A . S m i t h und K . H .
L i c h t e n s t e i n (von 1811 ab Professor in Berlin), Ostafrika von W.
P e t e r s (dem Nachfolger Lichtensteins von 1856 ab in der Professur
der Zoologie zu Berlin) auf seine Fauna erforscht. Nordostafrika
wurde eifrig von deutschen Gelehrten untersucht, so von
E h r e n b e r g , R ü p p e l l , v. H e u g l i n , Algier von M o r i t z W a g n e r (1836-
1838).
Das Studium der Küstenfauna fand namentlich im Mittelmeer
erneute Pflege. Um die Mitte des Jahrhunderts begannen auch C .
E . v. B a e r , J o h . M ü l l e r , K . Vo g t , A g a s s i z u. a. zu zootomischen
und embryologischen Zwecken das Mittelmeer und die Nordsee
aufzusuchen, während ein ganz selbständiger Zweig der marinen
Zoologie in Skandinavien anzusetzen begann. Hier war es nämlich
M . S a r s (1805-1869, ursprünglich Theologe, von 1854 ab Professor
der Zoologie in Christiania), welcher die Küstenfauna Norwegens
eingehend untersuchte (1846), Tiefenzonen aufstellte, die Krinoiden
als noch heute existierende Tiefenformen nachwies. Auch der
Engländer E d w. F o r b e s (1815-1854) hatte 1841-1843 im Ägäischen
Meere Tiefenzonen der Faunen festgestellt, welche namentlich auch
von den Paläontologen zur Erklärung der fossilen Faunen
beigezogen wurden. S a r s , sowie sein Sohn nahmen von 1850 ab an
verschiedenen arktischen Expeditionen teil und brachten eine reiche
Ausbeute an Tiefseeformen zurück. Wyville Thompson sah dieses
Material und bewog B . C a r p e n t e r , den Plan einer Reise eigens zum
Zwecke der Tiefseeforschung aufzunehmen. Infolge des reichen,
nördlich von Schottland gewonnenen Ertrages wurde die
C h a l l e n g e r - E x p e d i t i o n ausgerüstet (1872-1876), an der außer
W y v. T h o m p s o n auch J o h n M u r r a y teilnahm. Diese Expedition
wurde die wissenschaftlich erfolgreichste Seereise. Ihr folgten
zahlreiche ähnliche, aber kleinere Unternehmen in den siebziger und
achtziger Jahren. Neuere, mit großen Hilfsmitteln ausgerüstete
Expeditionen brachten weiteren überraschenden Zuwachs,
namentlich an physiologisch interessanten Lebewesen der Tiefsee.
Das Bedeutendste leisteten die S i b o g a -Expedition, (1898 u. ff.), die
Va l d i v i a -Expedition (1898/1899 unter C . C h u n ) und die Fahrten des
F ü r s t e n A l b e r t I . v o n M o n a c o (von 1887 an). Schon Johannes
Müller hatte ein wachsames Auge auf den „Auftrieb“ des Meeres, der
sich mit feinen Netzen an der Oberfläche fischen läßt. Dieser
Auftrieb, das Plankton, wurde insbesondere von V. H e n s e n , dem
Kieler Physiologen, zum Gegenstand besonderer, auch quantitativer
Untersuchungen gewählt (von 1887 ab), die mit Rücksicht auf die
Ökonomie des Meeres unternommen wurden. S . L o v é n (1809-
1895, von 1840 ab Professor und Direktor des Museums in
Stockholm) brach der Untersuchung des Süßwasserplanktons Bahn.
P. M ü l l e r , ein Skandinavier, begann diese Studien 1870 im Genfer
See fortzusetzen, wodurch die früher an Hand der Flora gepflegten
geographischen Beziehungen zwischen alpiner und nordischer
Lebewelt neue Nahrung fanden.
Aus der Errichtung zoologischer Laboratorien erwuchs bald das
Bedürfnis, solche an die Meeresküste zu verlegen und sie speziell
der Erforschung der Meeresfauna zu widmen. Der Typus dieser
Stationen ist von A . D o h r n (geb. 1840, ehemals Privatdozent in
Jena) geschaffen worden in der Zoologischen Station von Neapel,
deren Gründung, 1870 begonnen, 1874 zur Eröffnung des
Laboratoriums führte, das die Metropole aller ähnlichen
Unternehmungen in allen Weltteilen geworden ist. Die Reihe der
Stationen zur Untersuchung des Süßwassers wurde mit Plön (O .
Z a c h a r i a s 1891) eingeleitet. Anschließend mag hier die Gründung
von Seewasseraquarien im Binnenland erwähnt werden, so
namentlich die des Aquariums im Garten der Zoologischen
Gesellschaft von London (1853), desjenigen im Jardin
d’Acclimatation (1861) sowie des einzigen als selbständiges Institut
errichteten Berliner Aquariums durch A . B r e h m (1869).
So eröffnete sich denn auch für die Zoologie immer mehr eine
Zukunft, die auf dem Wasser liegt. Durch ganz besondere Methoden
des Forschens ist ein Gebiet erschlossen worden, dessen Betreten
zu den geschichtlich eigenartigsten Erscheinungen der Zoographie
des 19. Jahrhunderts gehört.
3. Geschichte und Bibliographie der Zoologie.

Die Geschichte der Zoologie wurde erst spät ein Gegenstand
selbständiger Arbeiten. Das älteste Werk, das die Geschichte der
zoologischen Systeme behandelt, stammt, wenn wir von
gelegentlicher Berührung der Geschichte der Zootomie durch A . v o n
H a l l e r (Bibliotheca anatomica 1777) absehen, von J . S p i x (1811).
Ausführlicher und im Zusammenhang mit der Naturgeschichte
überhaupt stellte C u v i e r in Vorlesungen, die nach seinem Tode erst
erschienen, die Entwicklung der Zoologie dar (1841-1845). Einen
vortrefflichen Abschnitt bildet die Geschichte der Zoologie in I .
G e o f f r o y S t . H i l a i r e s Werk (1854, Bd. I). Wichtige Beiträge zur
Geschichte der Zoologie lieferte J . G . S c h n e i d e r . Auch A . v.
H u m b o l d t s geschichtliche Übersicht (Kosmos, Bd. II, 1847) ist noch
immer beachtenswert. Die Entwicklung der vergleichenden
Anatomie, freilich ohne deren Basis zu berühren, skizzierte O .
S c h m i d t (1855). 1873 erschien J . V. C a r u s ’ Geschichte der
Zoologie, ein Werk von sehr ungleichem Wert seiner Teile, mit dem
Hauptgewicht auf dem Mittelalter, unter literarisch-grammatischer
Behandlung des Stoffes und ohne Kenntnis der antiken Literatur
geschrieben. Eine Übersicht der neueren Zoologie vor Darwin gab
E . P e r r i e r (1884). Ein besonderes Verdienst haben sich im Laufe
des 19. Jahrhunderts die Philologen um die antiken Texte unserer
Wissenschaften erworben und damit historischer Behandlung
derselben Vorschub geleistet. Dies gilt besonders für Aristoteles,
dessen Bearbeitung bis 1870 durch deutsche Forscher (J . B .
M e y e r , F r a n t z i u s , A u b e r t und W i m m e r ) und in Frankreich durch
B a r t h é l e m y S t . H i l a i r e (bis 1890) große Fortschritte gemacht hat.
Über mehrere Zoologen der Neuzeit existieren zwar Biographien,
doch ist der Zusammenhang zwischen den Forschern und ihren
Schulen, namentlich aber die Berührung der Zoologie mit den
übrigen Wissenschaften im ganzen erstaunlich wenig bekannt.
Für die zoologische Bibliographie sind Fundgruben älteren
Datums die Bibliotheca universalis von K . G e s n e r (1545) und die
Bibliotheca anatomica von A . v o n H a l l e r (1774). Umfangreiche, im
Stil der Enzyklopädien gehaltene Lexika der Naturgeschichte
entstanden am Pariser Pflanzengarten 1782 und 1816. L . A g a s s i z
gab (1842-1846) eine Bibliotheca zoologica et palaeontologica
heraus. Von hohem Werte ist die Quellenkunde der vergleichenden
Anatomie von F. W. A ß m a n n (1847). Die umfassendste
Bibliographie schuf A . G ü n t h e r in dem von 1864 ab erscheinenden
Zoological Record. Ihr zur Seite trat die Bibliographie von J . V.
C a r u s im Zoologischen Anzeiger (von 1878 ab). Nachdem bereits
C u v i e r und J o h . M ü l l e r zeitweise Jahresberichte von beschränktem
Umfange verfaßt hatten, organisierte A . D o h r n (seit 1879) in den
Jahresberichten seiner Station die Berichterstattung in umfassender
Weise. Ein besonders auch praktisch zweckmäßiges Hilfsmittel
richtete H . F i e l d (seit 1895) in seinem Concilium bibliographicum
ein.
Register.
Abbe, E. 121.
Agassiz, L. 98, 113, 143, 149, 152.
Albert von Bollstädt, der Große 45.
Albert I. von Monaco 150.
Albinus, B. S. 78.
Alderotto 46.
Aldrovandi, U. 20, 52, 53, 66.
Alexander von Myndos 33.
Älian 38, 48, 49, 50.
Alkmäon von Kroton 16.
Amman 77.
Anaximander 15.
Anaxagoras 16.
Antigonos von Karystos 33.
Aristophanes 17.
Aristophanes von Byzanz 33.
Aristoteles 20–32, 33, 34, 36, 37, 44, 45, 47, 49, 51, 57, 61,
68, 71, 76, 91, 94, 96, 152.
Artedi, P. 74, 75.
Aselli 59.
Aßmann F. W. 152.
Asurnasirabal 11.
Aubert 152.
Audouin, J. V. 97.
Augustinus 41, 42.
Autenrieth 108.
Averrhoës 28.
Avicenna 43.
Azara 149.
Baco, Fr. 58, 59.

Baldassini 101.
Balfour, Fr. 127.
Baer, C. E. von 110, 111, 117, 149.
Barclay 125.
Barthélemy St. Hilaire 21, 152.
Bartholine 60, 61.
Bartholomäus Anglicus 47.
Barton 142.
Belon 50, 53, 55.
Benecke 121.
Beneden, J. P. van 116.
Bering 77.
Bernard, Cl. 79.
Bibron 97.
Bichat 79, 119.
Blainville, Ducrotay de 97.
Blair 70.
Blanchard, E. 97, 98.
Blasius, G. 62.
Blumenbach, J. F. 81, 103.
Bock 47.
Bonaparte 101, 142.
Bonelli, A. 101.
Bonnet, Ch. 71, 72, 73.
Bonpland 149.
Bontius 55.
Borchart 55.
Borelli 60.
Boerhave 64, 72.
Born, G. 121.
Brehm, A. 116, 151.
Brehm, C. L. 116.
Breyn 70.
Brisson 88.
Brogniart 148.
Bronn, G. 114, 118, 137.
Brunfels 47.
Buffon, J. Leclerc de 22, 37, 53, 72, 78, 80, 82, 83–85, 86,
91, 95, 120, 124.
Burmeister, H. 114.
Caldesi 61.
Campanella 57.
Camper, P. 79.
Carpenter, B. 134, 150.
Carus, C. G. 107, 108, 116.
Carus, J. V. 114, 115, 152, 153.
Cäsalpin 55.
Casserio 56.
Castelnau 149.
Cavolini 101.
Cetti 101.
Chiaje, delle 101.
Chun 150.
Claus 115.
Clift, W. 80, 125.
Clusius von Arras 55, 66.
Coiter 57.
Collins 62.
Colombo 56.
Comte, Ach. 99.
Cope, E. D. 143.
Costa, O. G. 101.
Cuvier, Fr. 91, 96, 99.
Cuvier, Georges 22, 37, 51, 88, 89, 90–96, 93, 94, 95, 96,
97, 98, 99, 112, 113, 116, 124, 125, 126, 127.
Cysat 70.
Darwin, Charles 101, 114, 115, 128–135, 136, 137, 138,

139.
Darwin, Erasmus 124, 125, 128, 130.
Daubenton 83, 85, 88, 91.
Demokrit von Abdera 16, 17.
Dempster 53.
Descartes 59.
Diderot 73.
Diogenes von Apollonia 16.
Dionysos 38.
Dohrn, A. 149, 153.
Döllinger, J. 110.
Dugès 99.
Dujardin, F. 97, 120.
Duméril, A. 97.
Duméril, E. 92, 97.
Duverney, J. G. 62, 82.
Duvernoy 92.
Edrisi 43.
Ehrenberg, C. G. 113, 149.
Eimer, Th. 139.
Elucidarius 47.
Empedokles 16.
Epicharm 17.
Erasistratos 39.
Eustachius 57.
Eydoux 148.
Fabricius ab Aquapendente 57.
Fay, du 82.
Field, H. 153.
Fitzroy 130.
Flower, W. 127.
Forbes, Ed. 149.
Frantzius 152.
Franz von Assisi 43.
Friedrich II. von Hohenstaufen 44, 46, 52.
Fuchs, L. 47.
Fulvius, Hirpinus 37.
Furlanus 48.
Galenos 15, 18, 39, 40, 47, 49, 50, 51, 57.
Galilei 58.
Garnot 148.
Gaymard 148.
Gaza 48.
Gegenbaur, K. 117, 118.
Geoffroy St. Hilaire, Etienne 88–90, 91, 92, 95, 96, 99, 104,
112, 122, 125, 126, 133, 134.
Geoffroy St. Hilaire, Isidore 100, 101, 117, 151.
Gesner, K. 20, 51, 52, 53, 152.
Giovio 47.
Gmelin 77.
Godmann 142.
Goldfuß 116.
Goethe 104, 105, 108, 125.
Gould, John 149.
Grant 146.
Gray, Asa 134.
Gray, J. E. 126, 127.
Grew, N. 61.
Gronovius 49, 74.
Güldenstadt 77.
Günther, A. 127, 152.
Gyllius 48.
Haeckel 9, 104, 115, 137, 139, 140-142, 146, 148.

Haller, A. von 71, 72, 79, 80, 90, 102, 122, 151.
Ham, L. von 65.
Hammurabi 11.
Hardouin 48.
Harlan 142.
Hartig 121.
Hartmann, Ed. von 138, 139.
Harvey, W. 59, 60, 65, 80.
Haüy 88.
Hegel 21.
Hemprich 113.
Hensen, V. 150.
Henslow 130.
Herbenstein 54.
Herder, J. G. 103, 104.
Hermann, J. 116.
Hernandez 55.
Herodot 15, 17.
Herophilos 39.
Heuglin, von 149.
Heusinger 109, 123.
Hippokrates 17, 18, 40, 47, 49, 50, 55, 57, 72.
Hippon von Rhegium 16.
His, W. 121.
Home, Ev. 80.
Hooke 119.
Hooker 134.
Horsfield 149.
Humboldt, A. von 81, 82, 103, 113, 149, 152.
Hunter, John 80, 81, 109, 112, 123, 124, 125, 126, 127.
Huxley, Th. H. 118, 128, 134, 136, 137.
Ingrassias 57.
Isidor von Sevilla 42.
Jakob van Maerlandt 46.

Jasolini 57.
Johannes Leo Africanus 47.
Jonston 53.
Jussieu 70.
Kallimachos von Kyrene 33.

Kämpfer 70.

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Questions to be addressed in this chapter include:

3. Is it possible to reduce AOE’s investment in materials inventories?

5. How could IT be used to further reengineer expenditure cycle activities?

Learning Objective One

Expenditure Cycle Business Activities

Four basic business activities in the expenditure cycle:

2. Receiving and storing goods, supplies, and services.

3. Approving supplier’s invoices.

4. Paying for goods, supplies, and services.

2. Inventory shorts resulting in production delays caused by late delivery or

We will consider three alternate approaches to inventory control: economic

Economic Order Quantity (EOQ) is the traditional approach to managing

1. Ordering Costs include all expenses associated with processing purchase

2. Carrying Costs are those associated with holding inventory.

5. Optimal Order Size

D = Demand in units for a specified period.

Materials Requirement Planning (MRP) seeks to reduce inventory levels by

Just-in-Time (JIT) systems attempt to minimise, if not totally eliminate,

A major difference between MRP and JIT is the production scheduling.

1. MRP systems schedule production to meet forecasted sales thereby

2. JIT systems schedule production in response to customer demands thereby

The purchase requisition (Figure 8.4) is a paper or electronic form that

The purchase requisition is received by a purchasing agent in the purchasing

Generating Purchase Orders

3. Dependability in making deliveries

Improving Efficiency and Effectiveness

Vendor-managed inventory programs provide another means of reducing purchase

Vendor-managed inventory essentially outsources much of the inventory control

Reverse auctions provide another technique to reduce purchasing-related expenses.

One other way to reduce purchasing-related costs is to conduct a pre-award audit,

The internal auditor verifies the accuracy of the bids.

Receiving and Storing Goods

Three possible exceptions to this process are:

1. Receiving a quantity of goods different from the amount ordered.

2. Receiving damaged goods.

3. Receiving goods of inferior quality that fail inspection.

Improve Efficiency and Effectiveness

Approving Suppliers Invoices

2. Voucher system—a disbursement voucher is also prepared which

There are three advantages for using disbursement vouchers:

2. Vouchers can be pre-numbered, which simplifies tracking all payables.

Improving Efficiency and Effectiveness

Another option is to eliminate vendor invoices. This “invoiceless” approach is called

Preparing careful short-term cash budgets is useful in taking advantage of early-

Six Sigma is a philosophy that focuses on improving quality by reducing

Lean analysis seeks to improve efficiency by eliminating bottlenecks and

Medtronic’s application of process improvement techniques yielded a dramatic

3. Payment processing times were cut by 50%.

Expenditure Cycle Information Needs and