Transaction Processing in the AIS

More like this

THE ZHOU DYNASTY: What factors lead to the Zhou's long reign?

by Issa Hussain

INFORMATION TECHNOLOGY

by Khalid mazlan

cyberbullying

by johanna Alvarez

Food Security

by Katie McKenzie

Transaction Processing in the AIS

Internal Controls within Accounting Cycle

Transaction Limits

Physical Security

Sequential Numbering

Chart of Accounts Coding System

Hiearchial Codes

Mnemonic Codes

Block Coding

Sequential Coding

Judgment and Information Technology impact Accounting Cycle

Human Judgment

Estimating amounts and interpreting accountings rules

Recognizing recordable transactions

Designing Source Documents

Information Technology

Preparing trial balances and financial statements

Recording Transactions

The Accounting Cycle Overview

10. Prepare a post closing trial balance

END OF YEAR!!! Then Start Over at 1!!!

9. Close the temporary accounts to retained earnings

7. Prepare an adjusted trial balance

8. Prepare financial statements

Balance Sheet

Statement of Cash Flows

Statement of Changes in shareholder's equity

Income Statement

6. Record adusting entries and post to the general ledger

5. Prepare an unadjusted trial balance

4. Post from the journal to the general ledger acocunts

3. Record the transactions in a journal

2. Analyze Transactions

1. Obtain information about external transactions from source documents

BEGINNING!!!

Accounting and Bookkeeping are Interconnected

Bookkeeping

Identifying and measuring economic information

Accounting

Bookkeeping, plus communicating that information to permit informed judments and decisions by users of the information