Accounting Information Systems,. Seventh Edition. James A. Hall. VP/Editorial Director: Jack W. Calhoun. Editor-in-Chief: Rob Dewey. Sr. Acquisitions Editor. book P D F services. PDF ebook file resource Accounting-Information-Systems- 7th-Edition-James-Hallpdf|Read online. Accounting Information Systems SEVENTH EDITION JAMES A. HALL Peter Accounting for Managers: Interpreting accounting information for decision- making.
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JAMES A. HALL - Accounting Information System Chapter 1 - Download as Powerpoint Presentation .ppt), PDF File .pdf), Text File .txt) or view presentation . Accounting Information System by James A. Hall by cAsSYAng in Types > School Work. Download as PPT, PDF, TXT or read online from Scribd. Flag for. Accounting Information Systems, 7e. James A. Hall. Chapter 1. The Information System: An Accountant's Perspective. Hall, Accounting Information Systems, 7e.
Which symbol represents a document? Which symbol represents a magnetic tape sequential storage device? Which symbol represents a decision? The characteristics that distinguish between batch and real-time systems include all of the following except a.
A file that stores data used as a standard when processing transactions is a. Sequential storage means a. Which accounting application is least suited to batch processing?
Which accounting application is best suited to batch processing? Operational inefficiencies occur because a. None of the above are true statements ANS: Operational efficiencies can be improved by a.
The coding scheme most appropriate for a chart of accounts is a. A common use for sequential coding is a.
The most important advantage of sequential coding is that a. When a firm wants its coding system to convey meaning without reference to any other document, it would choose a.
The most important advantage of an alphabetic code is that a. List two of the three transaction cycles. Documents that are created at the beginning of the transaction are called.
Batch processing and real-time processing PTS: Give a specific example of a turn-around document. Explain when it is appropriate to use special journals. Special journals are used to record large volumes of recurring transactions that are similar in nature. What are the subsystems of the revenue cycle? What are the subsystems of the expenditure cycle? Most organizations have replaced the general journal with a.
Provide a specific example of a general ledger account and a corresponding subsidiary ledger. Name four documentation techniques. Why is the audit trail important? The audit trail is used to track transactions from the source document to the financial statements and vice versa.
Accountants use the audit trail to correct errors, answer queries, and perform audits. What is a ledger? Ledgers show activity by account type. Only four symbols are used in data flow diagrams. What are they?
Which documentation technique depicts data relationship in databases.? Entity relationship diagram PTS: What are the three characteristics that are used to distinguish between batch and real-time systems. Give one advantages of real-time data collection.
Certain transaction errors can be prevented or detected and corrected at their source. In one sentence, what does updating a master file record involve? Updating a master file record involves changing the value of one or more of its variable fields to reflect the effects of a transaction.
What are the two broad classes of file technologies? Flat files and databases PTS: Explain two types of coding schemes and give examples of their use. Sequential codes represent items in some sequential order. Pre-numbered checks are one example. Traditional charts of accounts use block codes and start assets with 1, liabilities with 2, etc. Alphabetic codes are similar to numeric codes with increased options.
A two character code AA has potential for items 26 26 whereas a two digit code can accommodate only 10 Mnemonic codes use letters with meaning. The postal state abbreviations are mnemonic.
ESSAY 1. Describe the key activities in the revenue, conversion, and expenditure cycles. Revenue cycle: Sales order processing involves preparation of sales orders, credit granting, shipment and billing. Cash receipts collects cash and makes bank deposits. Conversion cycle: Production system involves planning, scheduling, and control of the manufacturing process. Cost accounting system monitors the flow of cost information related to production.
Expenditure cycle: Cash disbursements authorizes payment and disburses funds. Payroll monitors labor usage and disburses paychecks to employees. Categorize each of the following activities into the expenditure, conversion or revenue cycles and identify the applicable subsystem. Preparing the weekly payroll for manufacturing personnel. Releasing raw materials for use in the manufacturing cycle.
Recording the receipt of payment for goods sold. Recording the order placed by a customer. Ordering raw materials. Determining the amount of raw materials to order. Expenditure cycle-payroll subsystem.
Conversion cycle-production system subsystem. Revenue cycle-cash receipts subsystem. Revenue cycle-sales order processing subsystem. Expenditure cycle-downloads subsystem. Conversion cycle-production subsystem. What does an entity-relationship diagram represent? Why do accountants need to understand them? Entity relationship diagrams represent the relationship between entities in a system. An entity is either 1 a resource such as cash or inventory , 2 an event such as a sale or a receipt of cash , or 3 an agent such as a customer or vendor.
ERDs represent the relationship between entities graphically. ERDs are used in the design of databases. Time lag is one characteristic used to distinguish between batch and real-time systems. Give an example of when each is a realistic choice. Batch processing collects similar transactions into groups batches and processes them all at once. Hence, affected files are up to date immediately after the update, but can be expected to be out of date until the next run.
Hence, there is a time lag between the event and its recording in the system.
A payroll system is often handled with batch processing since it must be up to date at fixed time periods and need not be modified between pay dates. Real-time systems process each transaction as it occurs and files are always up to date—there is no time lag. This is preferred when there may be a need to query the system for the status of transactions.
A sales order processing system would benefit from real-time processing. Hence, customer questions could be answered easily, without waiting for the next update as would be required if the system was batch.
The revenue cycle has two subsystems. What are they and what occurs within each? The two subsystems of the revenue cycle are sales order processing and cash receipts. In the sales order processing subsystem, the sales order is processed, credit granted, goods are shipped, customer is billed, and related files updated sales, accounts receivable, inventory, etc. In the cash receipts subsystem, cash is collected and deposited in the bank and files updated cash, accounts receivable, etc.
Resource use is one characteristic used to distinguish between batch and real-time systems. Batch processing typically requires the use of fewer resources including programmer time and effort, computer time, hardware, and user training. Real-time systems require significantly more programming time, especially in the development of the user interface, often require much more computer time, and more expensive hardware, even a dedicated processor. Instructions, quotas, and budgets also flow downward.
Natural systems stem from the atom, while artificial systems are put together by humans. Multiple components, relatedness, subsystems, purpose, and interdependency. System decomposition is the process of dividing the system into smaller subsystem parts, while interdependency is the interaction between the subsystems.
They are related by the degree and nature of the interaction between the subsystems. If a vital subsystem fails, the entire system will most likely fail. The meaningful data is considered to be information. AISs process financial transactions and certain nonfinancial transactions that directly affect the processing financial transactions. The external financial reporting documents of AIS are subject to legal and professional standards.
Consequently, management and accountants have greater legal responsibility for AIS applications than for MIS applications. MIS applications expand the information set provided to such areas as production, sales, marketing, and inventory management. Revenue cycle, expenditure cycle, and conversion cycle. Reports used by management, which the company is not obligated by law, regulation, or contract to provide.
These are often used for internal problem- solving issues rather than by external constituents. Relevance, accuracy, completeness, summarization, and timeliness.
Relevance and efficiency. Data attribute field , record, file, and database. Storage, retrieval, and deletion. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
April 21, Identify the effects of inventory misstatements on income measurement. It is NOT a guarantee that your actual test will have the same amount of questions, problems, nor breakdown between multiple choice questions and problems.
There are a wide range of subjects to choose from. Practice 2 p. Accounting specialists are highly regarded. This student resource video covers completing course assignments in CengageNOW. Financial Accounting Fundamentals, Ch. Chapter Two 1. Furthermore, be able to justify which financial statement s is most useful for each goal. Key Code: Instructions Answers are entered in the cells with gray backgrounds. Please contact your Cengage Learning Representative for details.
Involves considering the impact of and being accountable for the effects that actions might have on society. Quickly memorize the terms, phrases and much more. Accounts Receivable 19, Fees Earned 19, Accrued fees earned. Yes, services provided by cengage accounting homework is indeed that cost effective. Be able to value inventory by estimation using the retail method and the gross profit method.
For more information visit: www. Welcome to Cengage Learning, a center of engagement for modern learning. Supplies Expense 8, Supplies 8, Supplies used I need the answers to the cengage problems that I have posted pictures for there is several parts to it and i need all of them please! All the blanks I need answers toi did the very first part but now i need the rest of it thank you.
Practice 5 p. Managerial accounting applies to all types of businesses—service, merchandising, and manufacturing. Chapter 3 Answers 1. Total 65 Pts.
Accounting Accounting Information Systems. The digit and digit formats both work. Chapter 9 journalizing downloads and cash payments test; Chapter 13 payroll accounting taxes and reports; Chapter 10 journalizing sales and cash receipts using special journals answers; 1.