Introduction

Businesses have to constantly process information about themselves and their environments so that they can compare their actual condition to the condition they planned to be in.

Lesson Objectives Understand the difference between data and information. Understand the role of information and technology in the business environment. Be aware of some of the key types of information businesses use. Be familiar with the accounting cycle and different types of accounts. Be exposed to two key financial statements and some financial ratios derived from those statements. Information Technology Accounting

Advanced Organizer Question Take a moment to write down the different types of information that you think are important to a business. Next