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OBJECTIVES OF ACCOUNTING INFORMATION SYSTEMS
Matherial is prepared according to:
Paige Baltzan, Amy Phillips. Bussiness Driven Information Systems. 2008McGraw Hill Higher Education Online Learning. http://onlinelearning.uvcms.com/index.php?page=course-and-program-catalog
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Main steps of accounting
• Identify and apply Generally Accepted Accounting Principles (GAAP).
• Apply the steps of the accounting cycle. • Post and analyze transactions using ledgers and
journals. • Demonstrate how to record adjusting entries for
prepaid expenses and unearned revenue. • Demonstrate understanding by completing an
adjusted trial balance.
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Main steps of accounting
• Perform a bank reconciliation. • Explain the purpose of the sales journal and the
Accounts Receivable ledger and post entries to both.
• Record the costs associated with the acquisition of property, plant, and equipment.
• Explain the purpose of and prepare entries for the purchase order journal and accounts payable (A/P) ledger.
• Identify the fundamental principles of an accounting information system.
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Basics for Accounting business
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Recording business information
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Financial statements
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Accounting cycle
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Asset Cash and Controls
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Assets Sales and Receivables
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Assets: Inventory Valuation
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Assets: Inventory Valuation
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Acquisition of Property, Plant and Equipment
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Liabilities: Purchasing and Payables
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Liabilities (atsakomybė už nuostolius)
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Liabilities
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Liabilities of employee and payroll accounting