Redesigning Business Process to Comply with the New Revenue Recognition Standard Using Process Mining

2019 ◽  
Vol 17 (1) ◽  
pp. 149-163
Author(s):  
Yunsen Wang ◽  
Tiffany Chiu ◽  
Victoria Chiu
Keyword(s):  
Business Process ◽  
Business Processes ◽  
Process Mining ◽  
Accounting Information ◽  
Internal Auditing ◽  
Revenue Recognition ◽  
Accounting Information Systems ◽  
Process Framework ◽  
Revenue Cycle ◽  
Transaction Price

ABSTRACT This study proposes a framework and develops a prototype that redesigns revenue cycle business processes to comply with the new revenue recognition standard Revenue from Contracts with Customers (ASU No. 2014-09 FASB 2014). The new standard aims to report the nature, amount, timing, and uncertainty of revenue; however, the accounting literature and profession have raised concerns regarding companies' compliance with the new standard, and urged companies to assess their practices and modify their accounting information systems accordingly. This study utilizes process mining to redesign a revenue cycle business process framework to consider single/multiple performance obligation(s), transaction price allocation, sales discounts granted/forfeited, and sales returns scenarios. In addition, a prototype is developed to detect non-standard sales transactions automatically and identify potential violations of the new standard. Findings in this study contribute to emerging technologies in accounting, internal auditing, and revenue recognition research, and are expected to be of interest to academics and practitioners.

Redesigning Business Process to Comply with the New Revenue Recognition Standard using Process Mining

2019 ◽  
pp. 0000-0000
Author(s):  
Yunsen Wang ◽  
Tiffany Chiu ◽  
Victoria Chiu
Keyword(s):  
Business Process ◽  
Business Processes ◽  
Process Mining ◽  
Accounting Information ◽  
Internal Auditing ◽  
Revenue Recognition ◽  
Accounting Information Systems ◽  
Process Framework ◽  
Revenue Cycle ◽  
Transaction Price

This study proposes a framework and develops a prototype that redesigns revenue cycle business processes to comply with the new revenue recognition standard "Revenue from Contracts with Customers" (ASU No. 2014-09). The new standard aims to report the nature, amount, timing, and uncertainty of revenue, however, the accounting literature and profession have raised concerns regarding companies' compliance with the new standard, and urged companies to assess their practices and modify their accounting information systems accordingly. This study utilizes process mining to redesign revenue cycle business process framework to consider single/multiple performance obligation(s), transaction price allocation, sales discounts granted/forfeited, and sales returns scenarios. In addition, a prototype is developed to detect non-standard sales transactions automatically and identify potential violations of the new standard. Findings in this study contribute to emerging technologies in accounting, internal auditing, and revenue recognition research, and are expected to be of interest to academics and practitioners.

Pengembangan Sistem Informasi Siklus Pendapatan pada PT XYZ (Pendekatan Studi Kasus)

2014 ◽  
Vol 5 (1) ◽  
pp. 12-19
Author(s):  
Yohannes Kurniawan ◽  
Janastasha Christie Parapaga
Keyword(s):  
Information System ◽  
Information Systems ◽  
Business Processes ◽  
Design Method ◽  
Accounting Information ◽  
Accounting Information System ◽  
Accounting Information Systems ◽  
Analysis And Design ◽  
Research Goal ◽  
Revenue Cycle

The research goal is to identify and analyze the need of accounting information system related to the revenue cycle at PT XYZ. This paper designing the useful of accounting information systems to support the current business processes, especially on the revenue cycle process. The design method is an Object Oriented Analysis and Design (OOAD) which refers to the modeling and design requirements discipline. And the result achieved by analysis and design of accounting information systems can support current activities of the revenue cycle, especially for the documentation and store of transaction data, and generate reports in accordance with company requirements. Conclusions derived from the analysis and design is the implementation of a webbased application that can help PT XYZ to do the work in different places, such as marketing office, head office and especially at the exhibition. Index Terms - Accounting Information System, revenue cycle, OOAD 

Caroline's Candy Shop: An In-Class Role-Play of the Revenue Cycle

2005 ◽  
Vol 19 (1) ◽  
pp. 131-154 ◽  
Author(s):  
David C. Hayes ◽  
J. Kenneth Reynolds
Keyword(s):  
Internal Control ◽  
Business Processes ◽  
Role Play ◽  
Accounting Information ◽  
Internal Controls ◽  
Accounting Information Systems ◽  
Post Test ◽  
Current Article ◽  
Revenue Cycle ◽  
Technological Opportunities

Recently, Bain et al. (2002) emphasized the critical importance of the transaction-processing cycles and internal control topics to undergraduates in an Accounting Information Systems (AIS) course. The current article outlines an in-class, roleplay exercise designed to provide students with a working understanding of the revenue cycle and its related key documents. Additionally, the exercise encourages students to consider risk exposures, internal controls, and technological opportunities to improve business processes. A pre-/post-test reveals that the in-class role-play is a successful learning exercise that significantly increases students' understanding of the revenue cycle. The test also indicates that students enjoy the experience.

scholarly journals Sistem Informasi Akuntansi Pemesanan dan Pembayaran (Ordering and Billing) Makanan dan Minuman Berbasis Android Pada RM. Ayam Goreng “Padamara” Purbalingga

2019 ◽  
Vol 4 (2) ◽  
pp. 33-38
Author(s):  
Imam Soleh Marifati ◽  
Vadlya Maarif
Keyword(s):  
Information System ◽  
Information Systems ◽  
Accounting Information ◽  
Cash Income ◽  
Accounting Information System ◽  
Accounting Information Systems ◽  
Transaction Process ◽  
Computer Based ◽  
Effectiveness And Efficiency ◽  
Revenue Cycle

Abstract - Ordering and billing transactions of food and beverages in a restaurant business are in the revenue cycle. Transactions in the revenue cycle have an important role for the company because from this transaction the company gets cash income. The use of information technology to support the transaction process can increase the effectiveness of the transaction process. Transactions can be processed quickly and accurately. Restaurant business can use accounting information systems to improve the effectiveness and efficiency of transaction processes in the revenue cycle. A computer-based accounting information system is needed in processing transactions. In this study, the authors developed the application of accounting information systems to process transactions in the revenue cycle for restaurant business activities. This application processes transaction data starting from ordering, payment and making revenue reports from restaurant business activities. Keywords: Order, Billing, Accounting Information System

The REA Modeling Approach to Teaching Accounting Information Systems

2003 ◽  
Vol 18 (4) ◽  
pp. 427-441 ◽  
Author(s):  
William E. McCarthy
Keyword(s):  
Information Systems ◽  
Business Process ◽  
Value Chain ◽  
Accounting Information ◽  
The United States ◽  
Mirror Image ◽  
Accounting Systems ◽  
Business Policy ◽  
Accounting Information Systems ◽  
Economic Agents

The REA model was first conceptualized in a paper for the 1982 The Accounting Review as a framework for building accounting systems in a shared data environment, both within enterprises and between enterprises. The model's core feature was an object pattern consisting of two mirror-image constellations that represented semantically the input and output components of a business process. The REA acronym derives from that pattern's structure, which consisted of economic Resources, economic Events, and economic Agents. Simultaneous with its research publication, REA began to be used as a framework for teaching accounting information systems (AIS), originally at Michigan State University and then gradually at other colleges and universities. In its extended form, the REA model integrates the teaching of accounting transaction structures, commitment and business policy specification, business process engineering, and enterprise value chain construction. As of 2003, REA modeling is used in a variety of AIS courses and featured in a variety of AIS textbooks, both in the United States and internationally.

scholarly journals CONDA-PM—A Systematic Review and Framework for Concept Drift Analysis in Process Mining

Algorithms ◽  
2020 ◽  
Vol 13 (7) ◽  
pp. 161
Author(s):  
Ghada Elkhawaga ◽  
Mervat Abuelkheir ◽  
Sherif I. Barakat ◽  
Alaa M. Riad ◽  
Manfred Reichert
Keyword(s):  
Systematic Review ◽  
Business Process ◽  
Continuous Monitoring ◽  
Business Processes ◽  
Process Mining ◽  
Concept Drift ◽  
Business Environments ◽  
Drift Analysis ◽  
Comprehensive Framework ◽  
Over Time

Business processes evolve over time to adapt to changing business environments. This requires continuous monitoring of business processes to gain insights into whether they conform to the intended design or deviate from it. The situation when a business process changes while being analysed is denoted as Concept Drift. Its analysis is concerned with studying how a business process changes, in terms of detecting and localising changes and studying the effects of the latter. Concept drift analysis is crucial to enable early detection and management of changes, that is, whether to promote a change to become part of an improved process, or to reject the change and make decisions to mitigate its effects. Despite its importance, there exists no comprehensive framework for analysing concept drift types, affected process perspectives, and granularity levels of a business process. This article proposes the CONcept Drift Analysis in Process Mining (CONDA-PM) framework describing phases and requirements of a concept drift analysis approach. CONDA-PM was derived from a Systematic Literature Review (SLR) of current approaches analysing concept drift. We apply the CONDA-PM framework on current approaches to concept drift analysis and evaluate their maturity. Applying CONDA-PM framework highlights areas where research is needed to complement existing efforts.

scholarly journals Evaluasi Sistem Informasi Akuntansi Pembelian dan Persediaan Bahan Baku pada PT Sumber Bahagia Metalindo

2012 ◽  
Vol 3 (1) ◽  
pp. 149
Author(s):  
Siti Elda Hiererra ◽  
Efrizon Efrizon ◽  
Yun Yun ◽  
Eka Yuliany
Keyword(s):  
Information System ◽  
Data Analysis ◽  
Business Processes ◽  
Raw Materials ◽  
Accounting Information ◽  
Control Process ◽  
System Control ◽  
Sufficient Information ◽  
Literature Study ◽  
Accounting Information Systems

The research objective was to evaluate, learn and analyze whether the company’s business processes in accounting information systems of purchases and inventory of raw materials implemented in the company run as expected; to find out whether the accounting information system of purchasing and inventory of raw materials is well integrated, and to provide recommendations and suggestions to improve the weaknesses in the system for the company’s assets can be well cared for. Several methodologies are implemented in this research, which are literature study, field study, such as: interviews, observation, checklists, and documentation review followed by data analysis. Audit is implemented using audit around the computer. The results obtained are in the form of data analysis presented as problem findings, the impacts and recommendations for remedial action. It can be concluded from the results of this study that PT. Sumber Bahagia Metalindo owns sufficient information system control, but still there are some weaknesses to be improved in order to improve control process to the better objective.

scholarly journals Sistem Informasi Akuntansi Siklus Pendapatan Pada Usaha Bengkel Budi Barokah Sokaraja

2019 ◽  
Vol 5 (1) ◽  
pp. 44-51
Author(s):  
Imam Soleh Marifati ◽  
Ubaidillah Ubaidillah
Keyword(s):  
Information System ◽  
Information Systems ◽  
Accounting Information ◽  
Spare Parts ◽  
Added Value ◽  
Repair Service ◽  
Accounting Information System ◽  
Accounting Information Systems ◽  
Computer Based ◽  
Revenue Cycle

Abstract: Computer-based accounting information systems can be used by companies to improve the efficiency, effectiveness and accuracy of the processes of business transactions that occur in the company. The income accounting cycle which is one of the cycles in an accounting information system needs attention because this cycle produces revenue transactions which are a financial source for the company. The use of computer-based systems in this cycle can also provide added value in the form of improving services to customers. To implement a computer-based accounting information system, a software is needed to process revenue transactions. In this study, the authors developed an application of accounting information systems to process transactions in the income cycle found in vehicle workshop businesses. This application processes transaction data starting from ordering repair services, recording spare parts usage, repair service fees, bill payments and and making income reports on workshop business activities. Keywords: revenue cycle, repairation service, accounting information system

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