1. Explain how the accounting cycles (revenue,
expenditure, production, and human
resource/payroll) interact in a business organization
and with the general ledger and reporting. Draw
simple inflow and outflow diagram illustrating these
cycles and the interrelationships among them.
2. For each accounting cycle:
a. Describe the cycle: purpose, resources,
documents, reports, and information.
b. Describe the activities or sub-processes of the
cycle?
c. Diagram the process along with input and
outputs of the cycle?
3. Define the general ledger process. What are the steps
in the general ledger process?
4. What reports are produced from the general ledger
process?
5. Understand and apply business process diagrams to a
given scenario.
