Book reference: Accounting Information System by James Hall

Topic: Conversion Cycle

1. Define the conversion cycle. 2. What activities are involved in the batch processing system? 3. What documents trigger and support batch processing systems? 4. What are the primary determinants for both materials and operations requirements? 5. What are the objectives of inventory control in the production process? 6. What document triggers the beginning of the cost accounting process for a given production run? 7. What documents are needed for cost accounting clerks to update the work-in-process accounts with standard charges? 8. What types of management reports are prepared by the cost accounting system? 9. What document signals the completion of the production process? 10. What functions should be separated to segregate record keeping from asset custody? 11. Give an example for each of the following control activities in the conversion cycle: transaction authorization, segregation of duties, and access. 12. Distinguish between computer-aided design and computer-aided manufacturing. 13. What is meant by the statement, ''Inventories camouflage production problems and can cause overproduction''? What is wrong with overproduction if you already own the raw material? 14. What are the primary goals of lean manufacturing? 15. Distinguish between activities and cost objects in activity-based costing.

Note: Please answer the question in an organize and understandable manner. Thank you and I hope you understand.