TAILIEUCHUNG - Lecture Fundamental accounting principles - Chapter 7: Accounting information systems

Lecture Fundamental accounting principles - Chapter 7: Accounting information systems. After completing this chapter you should be able to: Identify the principles and components of accounting information systems, explain the goals and uses of special journals, describe the use of controlling accounts and subsidiary ledgers. | Accounting Information Systems Chapter 7 PowerPoint Editor: Beth Kane, MBA, CPA Copyright @ 2015 McGraw Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education Chapter 7: Accounting Information Systems 07-C1: Fundamental System Principles 2 Fundamental System Principles C1 Accounting information systems collect and process data from transactions and events, organize them in useful reports, and communicate results to decisions makers. 3 Accounting information systems collect and process data from transactions and events, organize them in useful reports, and communicate results to decision makers. With the increasing complexity of business and the growing need for information, accounting information systems are more important than ever. In an accounting system, the fundamental principles that must be included in any system are: control, relevance, compatibility, flexibility, and cost-benefit. Managers need to control and monitor business activities. The control principle prescribes that an accounting information system have internal controls. Internal controls are methods and procedures allowing managers to control and monitor business activities. Decision makers need relevant information to make informed decisions. The relevance principle prescribes that an accounting information system report useful, understandable, timely, and pertinent information for effective decision making. Accounting information systems must be consistent with the aims of a company. The compatibility principle prescribes that an accounting information system conform with a company’s activities, personnel, and structure. Accounting information systems must be able to adjust to changes. The flexibility principle prescribes that an accounting information system be able to adapt to changes in the company, business environment, and needs of decision makers. The cost-benefit principle prescribes that the benefits from

• Kế toán - Kiểm toán
• Accounting principles
• Fundamental accounting principles
• 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