E-COMMERCE - University of Washington
E-COMMERCE
Use of advances in networking and communications technology to improve the ways in which a company interacts with its suppliers and customers.
E-commerce has become a basic requirement for businesses.
E-commerce has two basic types of transactions:
(1) B-to-C; relatively simple, involve the issue of trust.
(2) B-to-B; complex, large volume, issues are accountability and control.
EDI (Electronic Data Interchange): electronic exchange of data between trading partners.
EDI—
• reduces inventory,
• streamlines business processes,
• eliminates paper, and
• improves flow of information.
EDI effectiveness depends on the degree of its integration with company’s AIS.
EFT (Electronic Funds Transfer): making cash payments electronically.
• Accomplished though banking system’s Automated Clearing House network.
• Remittance data may/may not be transmitted with payment depending on the EDI capabilities of company’s bank.
• FEDI (Financial Electronic Data Interchange): integrates EFT and EDI, remittance data and funds transfer instruction processed as one package.
• Financial value-added networks offered by independent organizations can also be used to integrate EFT & EDI.
E-commerce’s impact of business processes:
• every step in the value chain is greatly affected.
• reduces staffing levels, improve service & support, cost savings, improve both the efficiency and effectiveness of support activities.
• e-commerce made possible by advances in networking and communications technology.
ACCOUNTING ISSUES in E-COMMERCE
Many nontraditional assets are being created: e.g., issues about sales of digitized assets and computation of CoGS.
Taxation of goods/services sold over the internet creates some complex and interesting issues since the transaction occurs simultaneously in various states/countries among various parties. Who gets the tax? and How much tax?
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