At One Time, If an Organization Wanted to Automate Using

question 36

Essay

At one time, if an organization wanted to automate using a computer system, they had to develop the program on their own. Today, there is software available to perform virtually every business function although most of them will not conform exactly to what a company needs. Describe two software tools that can be used for business process analysis and design.

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Definitions:

Interest Cost

Represents the total expense over the life of a borrowing, calculated as the difference between the amount borrowed and the amount repaid.

Service Cost

An expense recognized in the income statement of an employer for the cost of future pension benefits earned by employees during the current period.

Accrual-Basis Concepts

Accrual-basis concepts in accounting involve recording revenues when they are earned and expenses when they are incurred, regardless of when cash is received or paid.

Projected Benefit Obligation

The present value of all benefits attributed by the pension benefit formula to employee service rendered up to that date.