ACG 3401 Study Guide Exam 1 Accountants Roles * Management accountant * Internal auditor * Information systems auditor * External auitor * Tax accountant * Fraud examiner * Managerial Accountant * Provides info for mngmt decisions * Knowledge base: * * * * Business processes * Accounting information sustems * Internal controls * Managerial accouting techniques * Impact of
Words: 2656 - Pages: 11
CHAPTER 2 Overview of Business Processes SUGGESTED ANSWERS TO DISCUSSION QUESTIONS 1. Three different types of information exist in Table 2.1: 1. Internally-generated financial data 2. Internally-generated operating data 3. Externally-generated data. Internally generated financial data would be captured directly on source documents that are processed by the AIS and would be reported in traditional financial statements. Internally generated operating
Words: 2433 - Pages: 10
Ph.D., CPA American Management Association New York • Atlanta • Brussels • Chicago • Mexico City • San Francisco Shanghai • Tokyo • Toronto • Washington, D.C. Special discounts on bulk quantities of AMACOM books are available to corporations, professional associations, and other organizations. For details, contact Special Sales Department, AMACOM, a division of American Management Association, 1601 Broadway, New York, NY 10019. Tel.: 212-903-8316. Fax: 212-903-8083. Web site: www.amacombooks
Words: 37136 - Pages: 149
vouching that an auditor can satisfy himself as to the authenticity and completeness of transactions in the books of accounts. In case he is negligent he will be held guilty. Vouching also includes checking of additions ledger postings, extracting of balances in the ledgers etc. The extent to which the auditor should check will depend upon the size of business, the accounts of which he is auditing. Voucher As a voucher is any documentary evidence in support of a transaction it may be in the
Words: 6388 - Pages: 26
STENEFORD MANJENGWA 520151129C742F1EE6368 COURSE NAME: DEVELOPMENT OF CURRICULUM DESIGN Financial Accounting ATLANTIC INTERNATIONAL UNIVERSITY TABLE OF CONTENTS Introduction ………………………………………………………….3 History ……………………………………………………………….3
Words: 7526 - Pages: 31
COURSE OUTLINE Fall 2014 COURSE: Acct 111 Financial Accounting I SECTION: SD01 & SD02 CREDIT VALUE: 3 PREREQUISITE: None CLASS Sept 2, 2014 – December 12, 2014 SCHEDULE SD02 – 9:30 – 11 am SD01 – 12:30 – 2 pm Wednesday & Friday LOCATION: SD 02 Rm 6-226 CCC SD 01 Rm 6-344 CCC INSTRUCTOR: Darlene Lowe, CMA, MBA CONTACT Use the email function through blackboard
Words: 1538 - Pages: 7
Chapter 3 ANSWERS TO QUESTIONS Q31 A primary objective of financial reporting is to provide information that is useful to present and potential investors and creditors and other users in making rational investment, credit, and similar decisions. An accounting system is the means by which a company records and stores the financial and managerial information from its transactions so that it can retrieve and report the information in an accounting statement. A doubleentry system standardizes the method
Words: 25366 - Pages: 102
Intermediate Accounting Chapter 1 * Essential characteristics of accounting are (1) the identification, measurement, and communication of financial information about (2) economic entities to (3) interested parties * Financial accounting – process that culminates in the preparation of financial reports on the enterprise for use by both internal and external parties * Users – investors, creditors, managers, unions, and government agencies * financial statements – (1) the
Words: 7392 - Pages: 30
format. Improves accuracy by eliminating the potential for input errors when entering data. Paper based, sent from organization to customer, same doc is returned by customer to organization. * General ledger * General journal * Special journals * Subsidiary ledgers Legacy systems * Existing system, often based on old technology. Advantages are that legacy systems: * Customized to specific needs. * Support unique business processes not inherent in generic
Words: 3476 - Pages: 14
Introduction to Debits and Credits If the words "debits" and "credits" sound like a foreign language to you, you are more perceptive than you realize—"debits" and "credits" are words that have been traced back five hundred years to a document describing today's double-entry accounting system. Under the double-entry system every business transaction is recorded in at least two accounts. One account will receive a "debit" entry, meaning the amount will be entered on the left side of that account
Words: 10337 - Pages: 42
