OBJECTIVES OF ACCOUNTING INFORMATION SYSTEMS Matherial is prepared according to: Paige Baltzan, Amy Phillips. Bussiness Driven Information Systems McGraw Hill Higher Education Online Learning.

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.

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.

Basics for Accounting business

Recording business information

Financial statements

Accounting cycle

Asset Cash and Controls

Assets Sales and Receivables

Assets: Inventory Valuation

Acquisition of Property, Plant and Equipment

Liabilities: Purchasing and Payables

Liabilities (atsakomybė už nuostolius)

Liabilities

Liabilities of employee and payroll accounting