MindTap Accounting, 1 term (6 months) Printed Access Card for Gelinas/Dull/Wheeler/Hill's Accounting Information Systems, 11th (MindTap Course List)
11th Edition
ISBN: 9781305971424
Author: Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill
Publisher: Cengage Learning
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Textbook Question
Chapter 1, Problem 1RQ
Describe this textbook’s three themes.
Expert Solution & Answer
Summary Introduction
To determine: The three themes of the textbook.
Introduction:
Accounting Information System (AIS) is said to be the specialized subsystem of the Information System (IS). AIS can be used in the business events for the purpose of collecting, processing, and reporting the financial information.
Explanation of Solution
Describe the three themes of the textbook:
The three themes of the textbook are enterprise system, e-business, and internal control. Enterprise system helps the firm to integrate the information from all the functional areas of the organization. E-business refers electronic business which assists in undertaking the business process between the organization and individual using the application of electronic network.
Internal control is the process that provides promise concerning the consistency of reporting, efficiency, and effectiveness of the operations, and compliance with the applicable regulation.
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Question 3Footfall Manufacturing Ltd. reports the following financialinformation at the end of the current year:Net Sales $100,000Debtor’s turnover ratio (based onnet sales)2Inventory turnover ratio 1.25Fixed assets turnover ratio 0.8Debt to assets ratio 0.6Net profit margin 5%Gross profit margin 25%Return on investment 2%Use the given information to fill out the templates for incomestatement and balance sheet given below:Income Statement of Footfall Manufacturing Ltd. for the year endingDecember 31, 20XX(in $)Sales 100,000Cost of goodssoldGross profitOther expensesEarnings beforetaxTax @50%Earnings aftertaxBalance Sheet of Footfall Manufacturing Ltd. as at December 31, 20XX(in $)Liabilities Amount Assets AmountEquity Net fixed assetsLong termdebt50,000 InventoryShort termdebtDebtorsCashTOTAL TOTAL
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Chapter 1 Solutions
MindTap Accounting, 1 term (6 months) Printed Access Card for Gelinas/Dull/Wheeler/Hill's Accounting Information Systems, 11th (MindTap Course List)
Ch. 1 - Describe this textbooks three themes.Ch. 1 - Prob. 2RQCh. 1 - A system must have organization,...Ch. 1 - Prob. 4RQCh. 1 - Prob. 5RQCh. 1 - Prob. 6RQCh. 1 - Why is the information system important to the...Ch. 1 - Prob. 8RQCh. 1 - Prob. 9RQCh. 1 - Prob. 10RQ
Ch. 1 - Prob. 11RQCh. 1 - Refer to Figure 1.9. Characterize the horizontal...Ch. 1 - Prob. 13RQCh. 1 - Prob. 14RQCh. 1 - Prob. 15RQCh. 1 - Prob. 1DQCh. 1 - Prob. 2DQCh. 1 - Prob. 3DQCh. 1 - Prob. 4DQCh. 1 - Why must you have knowledge of a systems...Ch. 1 - Prob. 6DQCh. 1 - Prob. 7DQCh. 1 - Prob. 8DQCh. 1 - Prob. 9DQCh. 1 - Prob. 10DQCh. 1 - Between relevance and reliability, which...Ch. 1 - Prob. 12DQCh. 1 - Prob. 13DQCh. 1 - Prob. 1SPCh. 1 - Prob. 2SPCh. 1 - About three decades ago, in his first address as...Ch. 1 - Prob. 2PCh. 1 - Conduct research on the implementation of Section...Ch. 1 - Prob. 4PCh. 1 - Prob. 5PCh. 1 - Prob. 6PCh. 1 - Prob. 7PCh. 1 - Prob. 8PCh. 1 - Identify the skills required to be a forensic...
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