TAILIEUCHUNG - Lecture Intermediate accounting (16th edition): Chapter 3 - Kieso, Weygandt, Warfield

Chapter 3 - The accounting information system. After studying this chapter, you should be able to: Understand basic accounting terminology; explain double-entry rules; identify steps in the accounting cycle; record transactions in journals, post to ledger accounts, and prepare a trial balance;. | PREVIEW OF CHAPTER 3 Intermediate Accounting 16th Edition Kieso ● Weygandt ● Warfield Understand the basic accounting information system. Record and summarize basic transactions. Identify and prepare adjusting entries. LEARNING OBJECTIVES Prepare financial statements from the adjusted trial balance. Prepare closing entries. Prepare financial statements for a merchandising company. After studying this chapter, you should be able to: The Accounting Information System 3 LO 1 Accounting information system Collects and processes transaction data. Disseminates the financial information to interested parties. ACCOUNTING INFORMATION SYSTEM LO 1 Helps management answer such questions as: How much and what kind of debt is outstanding? Were sales higher this period than last? What assets do we have? What were our cash inflows and outflows? Did we make a profit last period? Are any of our product lines or divisions operating at a loss? Can we safely increase our dividends to stockholders? Is our rate of return on net assets increasing? ACCOUNTING INFORMATION SYSTEM LO 1 Journal Posting Trial Balance Adjusting Entries Financial Statements Closing Entries Basic Terminology Event Transaction Account Real Account Nominal Account Ledger ACCOUNTING INFORMATION SYSTEM LO 1 An account shows the effect of transactions on a given asset, liability, equity, revenue, or expense account. Double-entry accounting system (two-sided effect). Recording done by debiting at least one account and crediting another. DEBITS must equal CREDITS. Debits and Credits ACCOUNTING INFORMATION SYSTEM LO 1 Debits and Credits An arrangement that shows the effect of transactions on an account. Debit = “Left” Credit = “Right” Account An Account can be illustrated in a T-Account form. LO 1 $10,000 Transaction #2 $3,000 $15,000 8,000 Balance Transaction #1 Transaction #3 If the sum of Debit entries are greater than the sum of Credit entries, the account will have a debit balance. Debits and Credits LO 1 If the sum

• Kế toán - Kiểm toán
• Accounting information system
• Double entry rules
• Trial balance
• Basic accounting terminology
• Intermediate accounting
• Lecture Intermediate accounting
• Accounting Information
• Reporting Systems
• AIS super system
• Computer accounting
• System security
• Report Accounting information system
• E Commerce business
• Information security
• E commerce enterprise
• Risks in payment
• Security of customer information
• Summary of Doctoral thesis
• Summary of Doctoral thesis in Economics
• Information system towards ERP application
• Perfecting the accounting information system
• The accounting information system
• Vietnam Post and Telecommunication
• Accounting information systems
• Hệ thống thông tin kế toán
• Lecture Accounting information systems
• Information systems controls
• System reliability
• Accounting management
• Information system
• Corporate management
• Impact factor of the accounting information
• System requirements
• System development life cycle
• Financial accounting
• Issues in financial accounting
• Kế toán tài chính
• Financial statements
• Accounting terminology
• Accounting cycle
• Principles of financial accounting
• Fundamental system principles
• Accounting systems
• Accounting transaction cycles
• Business activities
• Measure combining system quality
• Quality of accounting information
• One Way ANOVA
• Level of system quality and information quality
• Privacy controls
• The effectiveness of accounting information system
• Enterprises Resource Planning
• The effectiveness of internal controls
• Vietnam Stock Market
• System implementation
• System conversion
• Accounting system
• Human resources management
• General ledger
• Systems development life cycle
• AIS development strategies
• Systems design
• Lecture Financial accounting
• Business decision
• Accounting transactions
• Financial reporting
• Measurement issues
• Accounting equation