cation.com/ext/map/index.html?_con=con&exork iSavedExercise 1-4 (Algo) Learning the language of business LOCMatch each of the descriptions with the term or phrase it best reflects.Description1. A government agency that enforces proper use of GAAP.2. Principles that determine whether an action is right or wrong.3. Accounting professionals who provide services to many clients.4.A group that sets accounting principles in the United States.5. A collection of accounting rules and concepts set by the FASB.W11.629< Prev4 of 22

Detailed explanation:1. Securities and Exchange Commission (SEC) is the government agency that…

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Accounting Information Systems

10th Edition

ISBN:9781337619202

Author:Hall, James A.

Publisher:Hall, James A.

Chapter1: The Information System: An Accountant’s Perspective

Section: Chapter Questions

Problem 9P: CHARACTERISTICS OF USEFUL INFORMATION All records in a file must be uniquely identifiable in at...

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ACCOUNTING PROCESS Match the following steps of the accounting process with their definitions. Analyzinga. Telling the results Recordingb. Looking at events that have taken place and thinking about how they affect the business Classifying Summarizingc. Deciding the importance of the various reports Reportingd. Aggregating many similar events to provide information that is easy to understand Interpretinge. Sorting and grouping like items together f. Entering financial information into the accounting system
Use the internet to research one manufacturing, one retail (or merchandising), and one service business. For each business, describe the following: A. the primary purpose of the entity B. the types of activities that accountants would record (hint: what is the source of the business funding, and what costs might the business have?) C. the types of decisions that might be made in this organization and how financial and nonfinancial information might help the decision-making process
CHARACTERISTICS OF USEFUL INFORMATION All records in a file must be uniquely identifiable in at least one attribute, which is its primary key.Drawing on your general knowledge of accounting,identify the primary key for the following types ofaccounting records. To illustrate, the first record isdone for you.
Management accounting system prepares reports for presentation to various levels of management which show the performance of various sections of the business. Such communication in the form of reports to various levels of management helps to exercise effective control on various business activities and successfully running the business. Select one: O True O False Next page empt An Exam Jump to... FINAL EXAM - e to search F7 5 o6 1
Which of the following refers to financial accounting? Question 9 options: a) Regulations or standards govern the information provided to users. b) The focus is on using information from the formal accounting system to guide the organization's activities. c) Reports provided to users are timely and focus on the future. d) The users of the information provided include managers and executives within the organization. e) Users utilize both financial as well as nonfinancial information to make decisions.
Identify the following users as either External users or Internal users. a. Chief Executive Officer (CEO) b. Service managers c. District attorney d. Shareholders e. Lenders f. FBI and IRS g. Consumer group h. Creditors i. Regulators j. Nonprofit donor k. Voters 1. Government officials
MULTIPLE CHOICE: 1. These users need accounting information in evaluating the stability of the business in so far as their job security, future remuneration, and career growth and opportunities are concerned. A. Employees B. Creditors C. Auditors D. Regulatory authorities 2. All of the following describe accounting describe accounting, except A. A service activity B. An information system C. A universal language of business D. An exact science rather than an art.
Identify the following users as either External users or Internal users. a. Customers b. Suppliers c. External auditors d. Business press e. Managers f. District attorney g. Shareholders h. Lenders i. Controllers j. FBI and IRS k. Consumer group I. Voters 3
row_forward Question Given below question on accounting information system subject. You are required to give answers based on your own understanding with revelent examples. 1. What are the four levels of activity in the pyramid representing the business organization ? distinguish between horizontal and vertical flows of information. 2. What is the relationship among data, information and an information system? 3. Distinguish between Accounting Information System (AIS) and Management Accounting System (MIS) 4. What are the characteristics of good or useful information? 5. What are the levels of data hierarchy ? 6. Distinguish the roles of internal and external auditors 7. Distinguish between the centralized and distributed approaches to organizing the IT function
Choose the term or phrase below that best completes each statement.a. Accounting c. Recording e. Governmental g. Language of businessb. Identifying d. Communicating f. Technology h. Recordkeeping (bookkeeping) requires that we input, measure, and log transactions and events.
Centify which branch or field of accounting provides the functions and services stated below. Choose from the choices given. financial accounting management accounting tax accounting accounting education forensic accounting cost accounting government accounting auditing fiduciary accounting 1. Validation of financial statements 2. Preparation of tax returns 3. Presentation of cost incurred in business operations 4. Accounting for public funds 5. Recording and presentation of financial records to external users 6. Accounting to help managers and owners plan and manage their business 7. Development of accounting curriculum in educational institutions 8. Provision of guidance for compliance to tax obligations 9. Management of the business, possessions, and or property of another individual party 10. Branch of accounting involved in criminal or civil cases investigation
Choose the term or phrase below that best completes each statement.a. Accounting c. Recording e. Governmental g. Language of businessb. Identifying d. Communicating f. Technology h. Recordkeeping (bookkeeping) is the recording of transactions and events, either manually or electronically.

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