SDC Accounting 302 - Assignment 1

Defining components of an accounting information system Match each component of a computerized accounting information system with an example. Components may be used more than once.

In Chapter 11, the first step of the computer accounting cycle is to:   Question 26 options:   Post entries to the general ledger   Set up a business and select a chart of accounts   Journalize entries   Change accounting periods   Print the general ledger trial balance

The General Ledger How does posting journal entries work in a computerized accounting system? What does it mean when posting is done automatically? Explain.

Answer the following questionsYou were hired to assist Oman based Company in designing an accounting system for Oman Co., Ltd. has developed a list of the journals, ledgers, reports and documents that he thinks Oman Co., Ltd. The company asks you to complete the following tasks:a) Specify what data you think should be collected on each of the following four documents: Sales invoice, purchase order, receiving report, employee time card.b) Design a report to manage inventory.

All records in a file must have a unique way of identifying a particular record within that file, normally referred to as a primary key. Based on your general knowledge of accounting, for each of the following types of accounting records, indicate what the most likely primary key would be to access records within that file. REQUIRED: Using the attached answer sheet, indicate the primary key that would be used to access the file for the list of files provided below. Explain your answer where appropriate. LIST OF ACCOUNTING FILES NEEDED TO BE ACCESSED WITH PRIMARY KEY Accounting File Accounts Receivable (a) (b) Accounts Payable (c) Inventory (d) Customer Sales Order (e) Purchase Orders (f) Cash Receipts From Customers (g) Payroll Earnings For Employee (h) General Ledger Primary Key

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write an essay about accounting information system

Accounting professionals apply many technology tools to aid them in their everyday tasks and decision making. The General Ledger tool in Connect automates several of the procedural steps in the accounting cycle so the accounting professional can focus on the impacts of each transaction on the full set of financial statements. use this tool in helping students see the advantages of technology and, in particular, the power of the General Ledger tool in accounting practice, including financial analysis and “what-if” scenarios. How much are total expenses for Apple for the current year?

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Explain Staff Accounting Bulletins.

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Which of the following is not one of the general ledger and reporting activities? A. Updating the general ledger by posting entries from the accounting subsystems and treasurer B. Posting adjusting entries to the general ledger C. Preparation of managerial reports D. Recording entries in general journal