OBJECTIVES OF ACCOUNTING
INFORMATION SYSTEMS
Matherial is prepared according to:
Paige Baltzan, Amy Phillips. Bussiness Driven Information
Systems. 2008
McGraw Hill Higher Education Online Learning.
http://onlinelearning.uvcms.com/index.php?page=course-and-program-catalog
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
Assets: Inventory Valuation
Acquisition of Property, Plant and
Equipment
Liabilities: Purchasing and
Payables
Liabilities
(atsakomybė už nuostolius)
Liabilities
Liabilities of employee and payroll
accounting