4. The accounting double entry is used ABCD с increased security for keeping information in accounting registers ensure the interconnection of systematic and analytical accounting data and the possibilities of mutual comparison ensure the identity of financial and accounting data and management accounting data ensure the timely posting of economic transactions to the debit of one account and the credit of other accounts

4. The accounting double entry is used ABCD с increased security for keeping information in accounting registers ensure the interconnection of systematic and analytical accounting data and the possibilities of mutual comparison ensure the identity of financial and accounting data and management accounting data ensure the timely posting of economic transactions to the debit of one account and the credit of other accounts

Accounting Information Systems

10th Edition

ISBN:9781337619202

Author:Hall, James A.

Publisher:Hall, James A.

Chapter1: The Information System: An Accountant’s Perspective

Section: Chapter Questions

Problem 9P: CHARACTERISTICS OF USEFUL INFORMATION All records in a file must be uniquely identifiable in at...

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CHARACTERISTICS OF USEFUL INFORMATION All records in a file must be uniquely identifiable in at least one attribute, which is its primary key.Drawing on your general knowledge of accounting,identify the primary key for the following types ofaccounting records. To illustrate, the first record isdone for you.
The matching principle in accounting requires the matching of debits and credits.
Explain how the accounting equation organizes financial information using T-accounts and debits and credits.
Answer the following questions to ponder: 1. When does an accounting information system becomes useful? 2. Research on accounting information systems available on the market and share what you found. 3. What is the relevance of having subsidiary ledgers aside from control accounts?
.Explain the concept of double-entry accounting and its significance in maintaining accurate financial records.
How does the integration of blockchain technology impact the fundamental principles of double-entry accounting and financial statement verification?
Explain the process of double-entry accounting, including its fundamental principles, the concept of debits and credits, and how transactions are recorded and balanced using this method. Provide examples to illustrate the application of double-entry accounting in maintaining accurate financial records and ensuring the integrity of financial statements."
Match the definitions below with the correct term. A system that collects and processes [ Choose ] financial information to decision-makers. [Choose] transaction data and communicates Accounts payable (creditors') subsidiary ledger Cash receipts journal Accounts receivable (customers') subsidiary ledger Special journals A subsidiary ledger that collects transaction data of individual creditors. Control account A subsidiary ledger that collects Accounting information system transaction data of individual customers. Purchases journal A group of accounts with a common characteristic Subsidiary ledger Cash payments (cash disbursements) journal Sales journal A special journal that records all disbursements of cash. Cybercrime Manual accounting system A special journal that records all cash [Choose ] received. An account in the general ledger that summarizes subsidiary ledger data. [ Choose ] A crime that involves the Internet, a [ Choose ] computer system, or computer technology. A system…
Which of the following is not a user of internal accountinginformation?a. Store manager.b. Chief executive offi cer.c. Creditor.d. Chief fi nancial offi cer.
LO 1-3 1.63 Management Assertions. Your audit manager has asked you to explain the PCAOB assertions by using an account on the balance sheet at your audit client. For the accounts receivable account, please define each of the PCAOB assertions, using the accounts receivable account as a way to illustrate each assertion. You are encouraged to reference Exhibit 1.4 to help you answer this question.
All records in a file must be uniquely identifiable in at least one attribute, which is its primary key. Drawing on your general knowledge of accounting, identify the primary key for the following types of accounting records. To illustrate, the first record is done for you.Record Type Primary KeyAccounts Receivable Customer Number Accounts Payable Inventory Customer Sales Orders Purchase Orders to vendors Cash Receipts (checks) from customers Cash Disbursements (checks) to vendors Employee Payroll Earnings records
Do you agree or disagree upon accounting debits and credits as an information system?