Concept Map Ch. 2

Mer som dette

Portable devices

Ved opet neki lik

HANDOVER

Ved Robin Wong

Curation in Education: Great Examples

Ved Robin Good

Accounting

Ved Yuxin Lu

Transaction Processing

Internal Controls

Information technology controls.

Proper authorizations and supervisions.

Audits.

Transaction limits.

Physical security for source documents.

Sequential numbering of source documents.

Accounting

10. Prepare a post-closing trial balance (at year-end only)

9. Close the temporary accounts to retained earnings (at year-end only)

8. Prepare financial statements.

7. Prepare an adjusted trial balance.

6. Record adjusting entries and post to the general ledger accounts.

5. Prepare an unadjusted trial balance.

4. Post from the journal to the general ledger accounts.

3. Record the transactions in a journal.

2. Analyze transactions.

1. Obtain information about external transactions from source documents.

The Accounting Cycle

Information Technology

Closing accounts.

Preparing financial statements.

Preparing trial balances.

Posting to ledger.

Record transactions

Human Judgement

Used to decide which transactions are recordable in the AIS.

Coding Systems

Mnemonic

Hierarchical

Block

Sequential

Bookkeeping