TAILIEUCHUNG - Lecture Accounting information and reporting systems - Chapter 2: Business activities and transaction processing

When you finish this chapter, you should: To understand the various business activities and business decisions that are made, to decide on the information that is needed for various decisions, to review the steps in the accounting cycle, to understand the principles of internal control. | Business activities and transaction processing Learning objectives To understand the various business activities and business decisions that are made. To decide on the information that is needed for various decisions. To review the steps in the accounting cycle. To understand the principles of internal control. key terms account account code adjustment note assets chart of accounts control account current assets current liabilities expenses field file financial statements gross loss gross profit internal control invoice journal ledger key terms (cont.) liabilities master file net loss net profit non-current assets non-current liabilities owner’s equity posting record reserves retained profit revenues source document transaction file transaction processing Structure and characteristics of businesses Most common forms of ownership are: sole proprietorship partnership company Capital: an investment of cash or other assets required to establish a business Structure and characteristics of businesses Liability: amount owed by a business to others Equity: amount owed by a business to owners Retained profit: amount of profit not distributed Structure and characteristics of businesses Liabilities of a business: capital contributions by owners retained profit loans accounts payable bank overdraft Structure and characteristics of businesses Assets of a business: land and buildings plant and equipment motor vehicles furniture cash at bank accounts receivable inventory Business activities Organising capital Acquisition of premises and equipment Recruiting employees Acquiring inventory Manufacturing products Marketing and selling product/service Collecting amounts owing from customers Paying amounts owing to vendors Paying amounts owing to loans Paying amounts owing to employees Paying amounts owing to Australian Taxation Office Transaction processing procedures Consists of the following: capturing transaction data on forms called source documents recording transaction data in .

• Kế toán - Kiểm toán
• Accounting Information
• Reporting Systems
• Accounting information system
• AIS super system
• Business activities
• Transaction processing
• Accounting information systems
• Lecture Accounting information systems
• Hệ thống thông tin kế toán
• Control information
• Information systems controls
• Financial Accounting
• Principles of financial accounting
• Accounting information systems
• Fundamental system principles
• Accounting systems
• Lecture Accounting information systems
• Production cycle
• Accounting system
• Human resources management
• General ledger
• Systems development life cycle
• AIS development strategies
• Systems design
• Using financial accounting information
• The annual report
• Processing accounting information
• Internal control
• Computer accounting
• System security
• Value of information
• Business process
• Business process cycles
• The accountant
• Information technology
• Documenting accounting information systems
• Data modeling
• Controls for information security
• Information security
• Trust services framework
• System reliability
• Report Accounting information system
• E Commerce business
• E commerce enterprise
• Risks in payment
• Security of customer information
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Technology based accounting systems
• Issues in financial accounting
• Kế toán tài chính
• Financial statements
• Accounting terminology
• Accounting cycle
• Cash collections
• Revenue cycle
• Expenditure cycle
• Cash disbursements
• Value chain
• Supply chain
• Decision structure
• Control frameworks
• Internal controls
• COBIT framework
• Information systems