15 Accounting Information Systems Module 3 - Assignment Purchasing Example Using SAP ERP Last revised 12/01/2007 Assignment Learning Objectives:...

Step 1: Tasks 1.1 – 1.6 For each of the above accounts under the first tab (Type/description)examine the entries in the Control in chart of accounts box including the Account group and radio button that is selected. Now explain why each account has the values that are present. (Note: The answers to these questions are very straightforward, but we want you to think about why the system needs to know this information in order to function properly.)1.1 1001 Cash: __________________________________________________________________________________________________________________________________________________________________________________________________1.2 2001 Accounts Payable: ________________________________________________________________________________________________________________________________________________________________________________________1.3 Before going to the next account, let’s analyze the Accounts Payable account closer. This account is special. Look at the Control data tab and note what the Reconciliation account is. What is this all about?__________________________________________________________________________________________________________________________________________________________________________________________________________________1.4 5001 Cost of Goods Sold: _______________________________________________________________________________________________________________________________________________________________________________________1.5 1115 Goods Rcvd/ Invoice Rcvd: ________________________________________________________________________________________________________________________________________________________________________________1.6 Now let’s analyze the Goods Rcvd/ Invoice Rcvd account closer. This account is necessary because of timing differences in the real world. This is what is termed a suspense or holding account. Briefly explain how entries would be made to this account (i.e. What transactions happen and how are they recorded?) and why all transactions in the account should eventually be zeroed out. (If you don’t grasp this concept yet, you may wait to answer this part until you do some of the later transaction steps.)____________________________________________________________________________________________________________________________________________Step 2: Examine System SettingsWrite down the fiscal year variant for your company code. _____2.1 What is the fiscal year variant for your company code (90XX) and what does this mean from the point of view of the accounting system?_______________________________________________________________________________________________________________________________________________________________________________________________________________2.2 The university would use fiscal year variant V6. Explain why this is the fiscal year variant for the university. _______________________________________________________________________________________________________________________________________________________________________________________________________________Step 3: Create a Material Master record for a Finished Product3.1 What type of application control is used on the field “Base Unit of Measure”? (Pick from the list of controls on pages 1 & 2 of this assignment.)____________________________________________________________________________3.2 What type of application control is used on the field “Gross Weight”?_____________________________________________________________________________