TAILIEUCHUNG - Lecture Accounting information systems basic concepts and current issues (4th edition): Chapter 2 - Robert L. Hurt

After completing this chapter, students will be able to: Review the simple circular flow diagram of a closed economy; illustrate how the closed economy circular flow diagram can be extended into an open economy circular flow diagram and all of its linkages with the rest of the world; explain the balance of payments accounts, which reflect the logic of the open economy circular flow diagram;. | Chapter 2 Transaction Processing in the AIS Outline Learning objectives Accounting and bookkeeping Accounting cycle Internal controls Coding systems Human judgment and information technology Learning objectives Differentiate accounting and bookkeeping. List, discuss and complete, in order, the steps in the accounting cycle. Identify common internal controls associated with the accounting cycle. Describe common coding systems and how they are used in the AIS. Explain how human judgment and information technology affect the accounting cycle. Accounting and bookkeeping Accounting Accounting is the process of identifying, measuring, and communicating economic information to permit informed judgments and decisions by users of the information. Bookkeeping The part of accounting associated with identifying and measuring economic information. Accounting and bookkeeping Identifying Recognizing events that give rise to journal entries vs. those that do not Measuring Historical cost, such as supplies Present value, such as long-term bonds payable Market value, such as certain investments in marketable securities Net realizable value, such as accounts receivable Accounting cycle Ten steps used to gather data, process it and create general purpose financial statements Two groups Steps that occur throughout the fiscal year Steps that occur at the end of the fiscal year Accounting cycle Steps that occur throughout the fiscal year Obtain information about external transactions from source documents. Analyze transactions. Record the transactions in a journal. Post from the journal to the general ledger accounts. Prepare an unadjusted trial balance. Accounting cycle Steps that occur at the end of the fiscal year Record adjusting journal entries and post to the ledger accounts. Prepare an adjusted trial balance. Prepare financial statements. Close the temporary accounts to retained earnings. Prepare a post-closing trial balance. Some organizations prepare adjusting entries multiple .

• Kế toán - Kiểm toán
• Accounting principles
• Fundamental accounting principles
• Capital budgeting
• Managerial decisions
• Managerial decision scenarios
• Lecture Fundamental accounting principles
• Accounting information systems
• Fundamental system principles
• Technology based accounting systems
• Accounting information
• Financial accounting
• Managerial accounting
• Managerial cost
• Reporting manufacturing activities
• Merchandising operations
• Accounting cycle
• Completing the accounting cycle
• Classified balance sheet
• Accounting for partnerships
• Partnership form of organization
• Basic partnership accounting