7-1. Prepared by Coby Harmon University of California, Santa Barbara Westmont College

Size: px
Start display at page:

Download "7-1. Prepared by Coby Harmon University of California, Santa Barbara Westmont College"

Transcription

1 7-1 Prepared by Coby Harmon University of California, Santa Barbara Westmont College

2 7 Accounting Information Systems Learning Objectives After studying this chapter, you should be able to: [1] Identify the basic concepts of an accounting information system. [2] Describe the nature and purpose of a subsidiary ledger. [3] Explain how companies use special journals in journalizing. 7-2

3 Preview of Chapter 7 Accounting Principles Eleventh Edition Weygandt Kimmel Kieso 7-3

4 Basic Concepts of AIS Accounting information system (AIS) collects and processes transaction data and communicates financial information to decision makers. Includes: All steps in the accounting cycle. Documents that provide evidence of transactions. Manual or computerized accounting system. 7-4 LO 1 Identify the basic concepts of an accounting information system.

5 Basic Concepts of AIS Cost Effectiveness - Benefits must outweigh the costs. Illustration 7-1 Principles of an efficient and effective AIS. Useful Output Flexibility - The system should be sufficiently flexible to meet the resulting changes in the demands made upon it. 7-5 LO 1 Identify the basic concepts of an accounting information system.

6 Basic Concepts of AIS Computerized Accounting Systems Software programs (functions include sales, purchases, receivables, payables, cash receipts and disbursements, and payroll). Generate financial statements. Advantages: Typically enter data only once. Many human errors are eliminated. More timely information. 7-6 LO 1 Identify the basic concepts of an accounting information system.

7 Basic Concepts of AIS Computerized Accounting Systems Choosing a software package. Entry-Level Software. Easy data access and report preparation Audit trail Internal control Customization Network Compatibility Enterprise Resource Planning Systems. 7-7 LO 1 Identify the basic concepts of an accounting information system.

8 7-8

9 Basic Concepts of AIS Manual Accounting Systems Perform each step in the accounting cycle by hand. Satisfactory with a low volume of transactions. Must understand manual accounting systems to understand computerized accounting systems. 7-9 LO 1 Identify the basic concepts of an accounting information system.

10 Subsidiary Ledgers Used to keep track of individual balances. Two common subsidiary ledgers are: 1. Accounts receivable (customers ) 2. Accounts payable (creditors ) Illustration 7-2 Relationship of general ledger and subsidiary ledgers 7-10 LO 2 Describe the nature and purpose of a subsidiary ledger.

11 Subsidiary Ledgers Illustration 7-2 Relationship of general and subsidiary ledgers 7-11 LO 2

12 Subsidiary Ledgers Advantages of Subsidiary Ledgers 1. Show in a single account transactions affecting one customer or one creditor. 2. Free the general ledger of excessive details. 3. Help locate errors in individual accounts. 4. Make possible a division of labor LO 2 Describe the nature and purpose of a subsidiary ledger.

13 7-13

14 Used to record similar types of transactions. Illustration 7-5 If a transaction cannot be recorded in a special journal, the company records it in the general journal LO 3 Explain how companies use special journals in journalizing.

15 Question Each of the following is a subsidiary ledger except the: a. accounts receivable ledger. b. accounts payable ledger. c. customer s ledger. d. general ledger LO 3 Explain how companies use special journals in journalizing.

16 Sales Journal Illustration 7-6 Perpetual inventory system, one entry at selling price in Sales Journal results in a debit to Accounts Receivable and a credit to Sales. Another entry at cost results in a debit to Cost of Goods Sold and a credit to Inventory LO 3 Explain how companies use special journals in journalizing.

17 Posting the Sales Journal Illustration 7-7 Companies make daily postings from the sales journal to the individual accounts receivable in the subsidiary ledger LO 3 Explain how companies use special journals in journalizing.

18 Posting the Sales Journal Illustration 7-7 Posting to the general ledger is done monthly LO 3 Explain how companies use special journals in journalizing.

19 Proving the Ledgers Illustration LO 3 Explain how companies use special journals in journalizing.

20 Advantages of Sales Journal One-line entry for each sales transaction saves time. Only totals, rather than individual entries, are posted to the general ledger. A division of labor results LO 3 Explain how companies use special journals in journalizing.

21 Cash Receipts Journal Illustration 7-9 In the cash receipts journal, companies record all receipts of cash LO 3 Explain how companies use special journals in journalizing.

22 Posting the Cash Receipts Journal Illustration 7-9 Not all of the subsidiary or general ledger accounts are shown on the illustration to the right. See Illustration 7-9 for the complete illustration Illustration 7-9

23 Proving the Ledgers Illustration LO 3 Explain how companies use special journals in journalizing.

24 Question Cash sales of merchandise are recorded in the a. cash payments journal. b. cash receipts journal. c. general journal. d. sales journal LO 3 Explain how companies use special journals in journalizing.

25 Question Which of the following is not one of the credit columns in the cash receipts journal: a. Other accounts b. Accounts payable c. Accounts receivable d. Sales 7-25 LO 3 Explain how companies use special journals in journalizing.

26 Illustration 7-13 Purchases Journal Daily postings are made from the purchases journal to the accounts payable subsidiary ledger LO 3 Explain how companies use special journals in journalizing.

27 Illustration 7-13 Purchases Journal At the end of the accounting period, the company posts totals to the general ledger LO 3 Explain how companies use special journals in journalizing.

28 Proving the Ledgers Illustration LO 3 Explain how companies use special journals in journalizing.

29 Question All of the following are advantages of using subsidiary ledgers except they: a. show transactions affecting one customer or one creditor in a single account. b. free the general ledger of excessive details. c. eliminate errors in individual accounts. d. make possible a division of labor LO 3 Explain how companies use special journals in journalizing.

30 Cash Payments Journal Illustration 7-16 In a cash payments (cash disbursements) journal, companies record all disbursements of cash LO 3 Explain how companies use special journals in journalizing.

31 Illustration 7-16 Cash Payments Journal 7-31 LO 3 Explain how companies use special journals in journalizing.

32 Illustration 7-16 Cash Payments Journal 7-32 LO 3 Explain how companies use special journals in journalizing.

33 Proving the Ledgers Illustration LO 3 Explain how companies use special journals in journalizing.

34 Question Credit purchases of equipment or supplies other than merchandise are recorded in the: a. cash payments journal. b. cash receipts journal. c. general journal. d. purchases journal LO 3 Explain how companies use special journals in journalizing.

35 Question Cash payments of merchandise are recorded in the: a. cash payments journal. b. cash receipts journal. c. general journal. d. purchases journal LO 3 Explain how companies use special journals in journalizing.

36 Effects of Special Journals on General Journal Special journals substantially reduce the number of entries that companies make in the general journal. Only transactions that cannot be entered in a special journal are recorded in the general journal. Also, correcting, adjusting, and closing entries are made in the general journal LO 3 Explain how companies use special journals in journalizing.

37 Illustration 7-18 Journalizing and posting the general journal 7-37 LO 3 Explain how companies use special journals in journalizing.

38 A Look at IFRS Key Points The basic concepts related to an accounting information system are the same under GAAP and IFRS. The use of subsidiary ledgers and control accounts, as well as the system used for recording transactions, are the same under GAAP and IFRS. The overriding principle in converting to IFRS is full retrospective application of IFRS. Retrospective application recasting prior financial statements on the basis of IFRS provides financial statement users with comparable information LO 4 Compare the procedures for accounting information systems under GAAP and IFRS.

39 A Look at IFRS Key Points As indicated, the objective of the conversion process is to present a set of IFRS statements as if the company always reported under IFRS. To achieve this objective, a company follows these steps. 1. Identify the timing of its first IFRS statements. 2. Prepare an opening balance sheet at the date of transition to IFRS. 3. Select accounting principles that comply with IFRS, and apply these principles retrospectively. 4. Make extensive disclosures to explain the transition to IFRS LO 4 Compare the procedures for accounting information systems under GAAP and IFRS.

40 A Look at IFRS Key Points Once a company decides to convert to IFRS, it must decide on the transition date and the reporting date. The transition date is the beginning of the earliest period for which full comparative IFRS information is presented. The reporting date is the closing balance sheet date for the first IFRS financial statements. Upon first-time adoption of IFRS, a company must present at least one year of comparative information under IFRS LO 4 Compare the procedures for accounting information systems under GAAP and IFRS.

41 A Look at IFRS Looking to the Future The definitional structure of assets, liabilities, equity, revenues, and expenses may change over time as the IASB and FASB evaluate their overall conceptual framework for establishing accounting standards. In addition, high-quality international accounting requires both high-quality accounting standards and high-quality auditing. Similar to the convergence of U.S. GAAP and IFRS, there is a movement to improve international auditing standards. The International Auditing and Assurance Standards Board (IAASB) functions as an independent standard-setting body. It works to establish high-quality auditing and assurance and quality-control standards throughout the world. Whether the IAASB adopts internal control provisions similar to those in SOX remains to be seen. You can follow developments in the international audit arena at LO 4

42 A Look at IFRS IFRS Self-Test Questions Information in a company s first IFRS statements must: a. have a cost that does not exceed the benefits. b. be transparent. c. provide a suitable starting point. d. All the above LO 4 Compare the procedures for accounting information systems under GAAP and IFRS.

43 A Look at IFRS IFRS Self-Test Questions Indicate which of these is false. a. The use of subsidiary ledgers is the same under IFRS and GAAP. b. GAAP and IFRS use the same accounting principles. c. The use of special journals is the same under IFRS and GAAP. d. At conversion, companies should retrospectively adjust the financial statements presented following IFRS LO 4 Compare the procedures for accounting information systems under GAAP and IFRS.

44 A Look at IFRS IFRS Self-Test Questions The transition date is the date: a. when a company no longer reports under its national standards. b. when the company issues its most recent financial statement under IFRS. c. three years prior to the reporting date. d. None of the above LO 4 Compare the procedures for accounting information systems under GAAP and IFRS.

45 Copyright Copyright 2013 John Wiley & Sons, Inc. All rights reserved. Reproduction or translation of this work beyond that permitted in Section 117 of the 1976 United States Copyright Act without the express written permission of the copyright owner is unlawful. Request for further information should be addressed to the Permissions Department, John Wiley & Sons, Inc. The purchaser may make back-up copies for his/her own use only and not for distribution or resale. The Publisher assumes no responsibility for errors, omissions, or damages, caused by the use of these programs or from the use of the information contained herein. 7-45

Accounting for Merchandising Operations

Accounting for Merchandising Operations 5-1 Chapter 5 Accounting for Merchandising Operations Learning Objectives After studying this chapter, you should be able to: 1. Identify the differences between service and merchandising companies. 2.

More information

Accounting for Merchandising Operations

Accounting for Merchandising Operations 5-1 Chapter 5 Accounting for Merchandising Operations Learning Objectives After studying this chapter, you should be able to: 1. Identify the differences between service and merchandising companies. 2.

More information

CHAPTER 2 LEARNING OBJECTIVES 1. DESCRIBE HOW ACCOUNTS, DEBITS, AND CREDITS ARE USED TO RECORD BUSINESS TRANSACTIONS.

CHAPTER 2 LEARNING OBJECTIVES 1. DESCRIBE HOW ACCOUNTS, DEBITS, AND CREDITS ARE USED TO RECORD BUSINESS TRANSACTIONS. CHAPTER 2 LEARNING OBJECTIVES 1. DESCRIBE HOW ACCOUNTS, DEBITS, AND CREDITS ARE USED TO RECORD BUSINESS TRANSACTIONS. 2. INDICATE HOW A JOURNAL IS USED IN THE RECORDING PROCESS. 3. EXPLAIN HOW A LEDGER

More information

C H A P T E R 8 VALUATION OF INVENTORIES: A COST-BASIS APPROACH

C H A P T E R 8 VALUATION OF INVENTORIES: A COST-BASIS APPROACH C H A P T E R 8 VALUATION OF INVENTORIES: A COST-BASIS APPROACH Inventories are: items held for sale, or goods to be used in the production of goods to be sold. Businesses with : Intermediate Accounting

More information

PREVIEW OF CHAPTER. Intermediate Accounting IFRS 2nd Edition Kieso, Weygandt, and Warfield 8-2

PREVIEW OF CHAPTER. Intermediate Accounting IFRS 2nd Edition Kieso, Weygandt, and Warfield 8-2 8-1 PREVIEW OF CHAPTER 8 Intermediate Accounting IFRS 2nd Edition Kieso, Weygandt, and Warfield 8-2 8 Valuation of Inventories: A Cost-Basis Approach LEARNING OBJECTIVES After studying this chapter, you

More information

Chapter 2: The Business Environment and the AIS

Chapter 2: The Business Environment and the AIS Accounting Information s: Essential Concepts and Applications Fourth Edition by Wilkinson, Cerullo, Raval, and Wong-On-Wing Chapter 2: The Business Environment and the AIS Slides Authored by Somnath Bhattacharya,

More information

Inventories. 2. Explain the accounting for inventories and apply the inventory cost flow methods.

Inventories. 2. Explain the accounting for inventories and apply the inventory cost flow methods. 6-1 Chapter 6 Inventories Learning Objectives After studying this chapter, you should be able to: 1. Describe the steps in determining inventory quantities. 2. Explain the accounting for inventories and

More information

EMC Publishing s Introductory Accounting

EMC Publishing s Introductory Accounting Correlated to Indiana s Academic Standards Business, Marketing, and Information Technology (ACC I - 4524) Indiana s Academic Standards Course Content Standards and ACC I 1 Accounting Cycle ACC I 1.1 Content

More information

ACCOUNTING Canadian Eighth Edition Volume 1

ACCOUNTING Canadian Eighth Edition Volume 1 ADAPTING YOUR LECTURE NOTES (FOR USERS OF WEYGANDT ET AL., ACCOUNTING PRINCIPLES, 4/C/E) Elizabeth A. Zaleschuk ACCOUNTING Canadian Eighth Edition Volume 1 Charles T. Horngren / Walter T. Harrison / M.

More information

Full file at https://fratstock.eu CHAPTER 2

Full file at https://fratstock.eu CHAPTER 2 CHAPTER 2 LEARNING OBJECTIVES 1. DESCRIBE HOW ACCOUNTS, DEBITS, AND CREDITS ARE USED TO RECORD BUSINESS TRANSACTIONS. 2. INDICATE HOW A JOURNAL IS USED IN THE RECORDING PROCESS. 3. EXPLAIN HOW A LEDGER

More information

Chapter 11: The General Ledger and Financial Reporting Cycle

Chapter 11: The General Ledger and Financial Reporting Cycle Accounting Information Systems: Essential Concepts and Applications Fourth Edition by Wilkinson, Cerullo, Raval, and Wong-On-Wing Chapter 11: The General Ledger and Financial Reporting Cycle Slides Authored

More information

CP:

CP: Adeng Pustikaningsih, M.Si. Dosen Jurusan Pendidikan Akuntansi Fakultas Ekonomi Universitas Negeri Yogyakarta CP: 08 222 180 1695 Email : adengpustikaningsih@uny.ac.id 2-1 2-2 PREVIEW OF CHAPTER 2 2-3

More information

PELLISSIPPI STATE TECHNICAL COMMUNITY COLLEGE MASTER SYLLABUS PRINCIPLES OF ACCOUNTING I ACC 2110

PELLISSIPPI STATE TECHNICAL COMMUNITY COLLEGE MASTER SYLLABUS PRINCIPLES OF ACCOUNTING I ACC 2110 PELLISSIPPI STATE TECHNICAL COMMUNITY COLLEGE MASTER SYLLABUS PRINCIPLES OF ACCOUNTING I ACC 2110 Class Hours: 3.0 Credit Hours: 3.0 Laboratory Hours: 0.0 Date Revised: Spring 03 * Intended for transfer.

More information

GOVERNOR LIVINGSTON HIGH SCHOOL BUSINESS EDUCATION INTRODUCTION TO CONCEPTS AND PRINCIPLES OF ACCOUNTING #0526

GOVERNOR LIVINGSTON HIGH SCHOOL BUSINESS EDUCATION INTRODUCTION TO CONCEPTS AND PRINCIPLES OF ACCOUNTING #0526 BERKELEY HEIGHTS PUBLIC SCHOOLS BERKELEY HEIGHTS, NEW JERSEY GOVERNOR LIVINGSTON HIGH SCHOOL BUSINESS EDUCATION INTRODUCTION TO CONCEPTS AND PRINCIPLES OF ACCOUNTING #0526 Curriculum Guide September, 2002

More information

Chapter 7: Merchandise Inventory

Chapter 7: Merchandise Inventory 1 Chapter 7: Merchandise Inventory 2 3 Merchandise Inventory What is inventory? Items held for resale to customers Who has inventory? Wholesaler or Retailer - Merchandise Inventory Manufacturer - Raw Materials

More information

Chapter 13: The Expenditure Cycle

Chapter 13: The Expenditure Cycle Accounting Information Systems: Essential Concepts and Applications Fourth Edition by Wilkinson, Cerullo, Raval, and Wong-On-Wing Chapter 13: The Expenditure Cycle Slides Authored by Somnath Bhattacharya,

More information

Course Syllabus for ACCOUNTING 101 PRINCIPLES OF ACCOUNTING

Course Syllabus for ACCOUNTING 101 PRINCIPLES OF ACCOUNTING Course Syllabus for ACCOUNTING 101 PRINCIPLES OF ACCOUNTING Instructor: Andrea Murowski Larrison Hall, Room 214 224-2927 amurowski@brookdale.cc.nj.us COURSE OBJECTIVE: The purpose of this course is to

More information

PREVIEW OF CHAPTER 9-2

PREVIEW OF CHAPTER 9-2 9-1 PREVIEW OF CHAPTER 9 9-2 Intermediate Accounting IFRS 2nd Edition Kieso, Weygandt, and Warfield 9 Inventories: Additional Valuation Issues LEARNING OBJECTIVES After studying this chapter, you should

More information

Accounting I (Master)

Accounting I (Master) St. Michael Albertville High School Teacher: Tony Mallinger Accounting I (Master) September 2014 Content Skills Learning Targets Assessment Resources & Technology CEQ: WHAT IS ACCOUNTING? HOW DO YOU PERFORM

More information

EXERCISE E2-2 EXERCISE E2-1 pages 72-73

EXERCISE E2-2 EXERCISE E2-1 pages 72-73 EXERCISE E2-2 EXERCISE E2-1 pages 72-73 # (b) Account Debit Credit (a) Type (c) Effect (d) Normal 1/2 Cash 10,000 Asset Increase Debit A. Mane, Capital 10,000 Capital Increase Credit 3 Equipment 4,000

More information

Intermediate Accounting IFRS Edition Kieso, Weygandt, and Warfield 9-2

Intermediate Accounting IFRS Edition Kieso, Weygandt, and Warfield 9-2 9-1 C H A P T E R 9 INVENTORIES: ADDITIONAL VALUATION ISSUES Intermediate Accounting IFRS Edition Kieso, Weygandt, and Warfield 9-2 Learning Objectives 1. Describe and apply the lower-of-cost-or-net realizable

More information

ACCOUNTING FOR PERPETUAL AND PERIODIC INVENTORY METHODS

ACCOUNTING FOR PERPETUAL AND PERIODIC INVENTORY METHODS ACCOUNTING FOR PERPETUAL AND PERIODIC INVENTORY METHODS Key Terms and Concepts to Know Merchandise Inventory: Merchandise Inventory (Inventory or MI) refers to the goods the company has purchased and intends

More information

EXERCISE E2-3 EXERCISE E2-2 pages 81

EXERCISE E2-3 EXERCISE E2-2 pages 81 EXERCISE E2-3 EXERCISE E2-2 pages 81 # (b) Account Debit Credit (a) Type (c) Effect (d) Normal 1/2 Cash 10,000 Asset Increase Debit M. Anderson, Capital 10,000 Capital Increase Credit 3 Equipment 4,000

More information

CHAPTER 2. Conceptual Framework for Financial Reporting 9, 10, 11, 30 6, Basic assumptions. 12, 13, 14 5, 7, 10 6, 7

CHAPTER 2. Conceptual Framework for Financial Reporting 9, 10, 11, 30 6, Basic assumptions. 12, 13, 14 5, 7, 10 6, 7 CHAPTER 2 Conceptual Framework for Financial Reporting ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Concepts for Analysis 1. Conceptual framework general. 2. Objectives

More information

PELLISSIPPI STATE COMMUNITY COLLEGE MASTER SYLLABUS PRINCIPLES OF ACCOUNTING I ACCT Laboratory Hours: 0.0 Date Revised: Fall 2014

PELLISSIPPI STATE COMMUNITY COLLEGE MASTER SYLLABUS PRINCIPLES OF ACCOUNTING I ACCT Laboratory Hours: 0.0 Date Revised: Fall 2014 PELLISSIPPI STATE COMMUNITY COLLEGE MASTER SYLLABUS PRINCIPLES OF ACCOUNTING I ACCT 1010 Class Hours: 3.0 Credit Hours: 3.0 Laboratory Hours: 0.0 Date Revised: Fall 2014 Catalog Course Description: A survey

More information

CHAPTER 5. Accounting for Merchandising Operations 2, 3, , 12, 13, 14

CHAPTER 5. Accounting for Merchandising Operations 2, 3, , 12, 13, 14 CHAPTER 5 Accounting for Merchandising Operations ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Do It! Exercises A Problems B Problems *1. Identify the differences between

More information

ACCOUNTING BUSINESS EDUCATION DEPARTMENT TITUSVILLE HIGH SCHOOL (1 Year 1 Credit) MONTH PA STANDARDS CONTENT SKILLS ASSESSMENT

ACCOUNTING BUSINESS EDUCATION DEPARTMENT TITUSVILLE HIGH SCHOOL (1 Year 1 Credit) MONTH PA STANDARDS CONTENT SKILLS ASSESSMENT September ACCOUNTING BUSINESS EDUCATION DEPARTMENT TITUSVILLE HIGH SCHOOL (1 Year 1 Credit) Texts: Southwestern-Cengage Learning Century 21 Accounting, Multicolumn Journal, copyright 2014. Cengage Learning

More information

Introduction to Information Technology Turban, Rainer and Potter John Wiley & Sons, Inc. Copyright Chapter 7 1

Introduction to Information Technology Turban, Rainer and Potter John Wiley & Sons, Inc. Copyright Chapter 7 1 Introduction to Information Technology Turban, Rainer and Potter John Wiley & Sons, Inc. Copyright 2005 Chapter 7 1 APPLYING IT FOR COMPETITIVE ADVANTAGE Chapter 7 2 Transaction Processing, Functional

More information

Financial Accounting. John J. Wild. Sixth Edition. Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved.

Financial Accounting. John J. Wild. Sixth Edition. Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Financial Accounting John J. Wild Sixth Edition McGraw-Hill/Irwin Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 04 Reporting and Analyzing Merchandising Operations Conceptual

More information

Principles Of Accounting 11th Edition

Principles Of Accounting 11th Edition PRINCIPLES OF ACCOUNTING 11TH EDITION PDF - Are you looking for principles of accounting 11th edition Books? Now, you will be happy that at this time principles of accounting 11th edition PDF is available

More information

Financial Accounting Ifrs Edition Weygandt Liabilities

Financial Accounting Ifrs Edition Weygandt Liabilities FINANCIAL ACCOUNTING IFRS EDITION WEYGANDT LIABILITIES PDF - Are you looking for financial accounting ifrs edition weygandt liabilities Books? Now, you will be happy that at this time financial accounting

More information

ACCOUNTING. Year Prerequisite: None (Personal Financial Management Recommended)

ACCOUNTING. Year Prerequisite: None (Personal Financial Management Recommended) ACCOUNTING BS000001 (1 st Semester) BS000002 (2 nd Semester) ACCOUNTING Grades 10, 11, 12 Year Prerequisite: None (Personal Financial Management Recommended) 1 Unit All This is a one-year course that will

More information

Accounting I Instructional Unit Accounting I Unit Content Objective Performance Indicator Performance Task State Standards Code:

Accounting I Instructional Unit Accounting I Unit Content Objective Performance Indicator Performance Task State Standards Code: Instructional Unit Adjusting & Closing Entries for a Service Business -Accounting concepts and able to complete -Identify accounting concepts -assigned exercises 3.7.10B, practices related to adjusting

More information

Brandon s Cabinet Shop

Brandon s Cabinet Shop Brandon s Cabinet Shop 1 st Web-Based Edition Module 2 Transactions For June 10-16 Page 1 Heads Up: In this module you will be required to record: (1) unearned revenue and (2) a sales return of merchandise

More information

Chapter 10 Accounting Solutions

Chapter 10 Accounting Solutions CHAPTER 10 ACCOUNTING SOLUTIONS PDF - Are you looking for chapter 10 accounting solutions Books? Now, you will be happy that at this time chapter 10 accounting solutions PDF is available at our online

More information

CHAPTER 2. Job Order Costing 1, 2, 3, 4 5, 6, 7, 8 1, 2, 3, 4

CHAPTER 2. Job Order Costing 1, 2, 3, 4 5, 6, 7, 8 1, 2, 3, 4 CHAPTER 2 Job Order Costing ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Do It! Exercises A Problems B Problems 1. Explain the characteristics and purposes of cost accounting.

More information

CHAPTER 9 SOLUTIONS TO PROBLEMS: SET B PROBLEM 9-1B. Expected unit sales... Unit selling price... Total sales...

CHAPTER 9 SOLUTIONS TO PROBLEMS: SET B PROBLEM 9-1B. Expected unit sales... Unit selling price... Total sales... CHAPTER 9 SOLUTIONS TO PROBLEMS: SET B PROBLEM 9-1B MERCER FARM SUPPLY COMPANY Sales Budget For the Six Months Ending June 30, 2017 Expected unit sales... Unit selling price... Total sales... Quarter 1

More information

Management s Accountability to Stakeholders Stakeholders Provide Management is accountable for: Owners Operating activities Government Creditors

Management s Accountability to Stakeholders Stakeholders Provide Management is accountable for: Owners Operating activities Government Creditors Chapter 15 Distinguish management accounting from financial accounting Management Management s Accountability to Stakeholders Stakeholders Owners Government Provide Management is accountable for: Operating

More information

Financial Accounting Ifrs Edition Weygandt Kimmel Kieso 1st Edition Solutions Manual

Financial Accounting Ifrs Edition Weygandt Kimmel Kieso 1st Edition Solutions Manual Financial Accounting Ifrs Edition Weygandt Kimmel Kieso 1st Edition Solutions Manual FINANCIAL ACCOUNTING IFRS EDITION WEYGANDT KIMMEL KIESO 1ST EDITION SOLUTIONS MANUAL PDF - Are you looking for financial

More information

Financial Accounting Ifrs Edition Kieso Free Download

Financial Accounting Ifrs Edition Kieso Free Download FINANCIAL ACCOUNTING IFRS EDITION KIESO FREE DOWNLOAD PDF - Are you looking for financial accounting ifrs edition kieso free download Books? Now, you will be happy that at this time financial accounting

More information

Financial Accounting Ifrs Edition Test Bank

Financial Accounting Ifrs Edition Test Bank FINANCIAL ACCOUNTING IFRS EDITION TEST BANK PDF - Are you looking for financial accounting ifrs edition test bank Books? Now, you will be happy that at this time financial accounting ifrs edition test

More information

Financial Accounting Ifrs Edition 2e Solutions

Financial Accounting Ifrs Edition 2e Solutions FINANCIAL ACCOUNTING IFRS EDITION 2E SOLUTIONS PDF - Are you looking for financial accounting ifrs edition 2e solutions Books? Now, you will be happy that at this time financial accounting ifrs edition

More information

Financial Accounting Chapter 5 Notes The Operating Cycle And Merchandising Operations

Financial Accounting Chapter 5 Notes The Operating Cycle And Merchandising Operations Financial Accounting Chapter 5 Notes The Operating Cycle And Merchandising Operations I. Management Issues in Merchandising Business Merchandising business earns income by buying and selling goods. Such

More information

Subject: Accounting Calendar: Timeframe: 9 Weeks

Subject: Accounting Calendar: Timeframe: 9 Weeks Subject: Accounting Calendar: Timeframe: 9 Weeks Level/Grade: Secondary 10-12 : Starting a Proprietorship Define accounting terms related to starting a service business organized as a proprietorship (obj1)

More information

East Penn School District Secondary Curriculum

East Penn School District Secondary Curriculum East Penn School District Secondary Curriculum A Planned Course Statement for I Course # 606 Grade(s) 9-12 Department: Computer and Business Applications Length of Period (mins.) 41 Total Clock Hours:

More information

Principles Of Accounting 11th Edition Problem Solutions

Principles Of Accounting 11th Edition Problem Solutions We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with principles of accounting

More information

Financial Controls Checklist

Financial Controls Checklist Financial Controls Checklist Board of Health: Board of Health for the Leeds, Grenville & Lanark District Health Unit Period ended: Dec. 31/17 Objective: The objective of the Financial Controls Checklist

More information

CHAPTER 4 ACCOUNTING FOR MERCHANDISING OPERATIONS

CHAPTER 4 ACCOUNTING FOR MERCHANDISING OPERATIONS CHAPTER 4 ACCOUNTING FOR MERCHANDISING OPERATIONS Key Terms and Concepts to Know Income Statements: Single-step income statement Multiple-step income statement Gross Margin = Gross Profit = Net Sales Cost

More information

DEPARTMENT: LYNDHURST HIGH SCHOOL BUSINESS & TECHNOLOGY Page 1 of 8 COURSE: ACCOUNTING I

DEPARTMENT: LYNDHURST HIGH SCHOOL BUSINESS & TECHNOLOGY Page 1 of 8 COURSE: ACCOUNTING I DEPARTMENT: LYNDHURST HIGH SCHOOL BUSINESS & TECHNOLOGY Page 1 of 8 Weeks 1, 2 B1-12; 8.2.12 A1-3, B1-6, C1-3; 9.1.12 A1-5, B1-5; 9.2.12 A1-5, B1-3, C1-2, D1-5, E1-3, F1-5 What is Why do we need What is

More information

Functional Area Systems Accounting Information Systems

Functional Area Systems Accounting Information Systems ACS-1803 Introduction to Information Systems Instructor: Kerry Augustine Functional Area Systems Accounting Information Systems Lecture Outline 4, Part 2 ACS-1803 Introduction to Information Systems Functional

More information

Financial Accounting Ifrs Edition 2e

Financial Accounting Ifrs Edition 2e FINANCIAL ACCOUNTING IFRS EDITION 2E PDF - Are you looking for financial accounting ifrs edition 2e Books? Now, you will be happy that at this time financial accounting ifrs edition 2e PDF is available

More information

Financial Accounting Ifrs Edition Ebook

Financial Accounting Ifrs Edition Ebook FINANCIAL ACCOUNTING IFRS EDITION EBOOK PDF - Are you looking for financial accounting ifrs edition ebook Books? Now, you will be happy that at this time financial accounting ifrs edition ebook PDF is

More information

PROBLEM 2-1B. 11 Salaries and Wages Expense... 1,500 Cash... 1,500 (Paid salaries)

PROBLEM 2-1B. 11 Salaries and Wages Expense... 1,500 Cash... 1,500 (Paid salaries) PROBLEM 2-1B J1 Date Account Titles and Explanation Ref. Debit Credit Apr. 1 Cash... 35,000 Owner s Capital... 35,000 (Owner s investment of cash in business) 4 Land... 27,000 Cash... 27,000 (Purchased

More information

Geneva CUSD 304 Content-Area Curriculum Frameworks Grades 6-12 Business

Geneva CUSD 304 Content-Area Curriculum Frameworks Grades 6-12 Business Geneva CUSD 304 Content-Area Curriculum Frameworks Grades 6-12 Business Mission Statement In the Business Department, our mission is to: Provide a variety of subject areas. Introduce students to current

More information

11/10/2016. Functional Area Systems Accounting Information Systems. Functional Area Information Systems. Functional Area Information Systems

11/10/2016. Functional Area Systems Accounting Information Systems. Functional Area Information Systems. Functional Area Information Systems ACS-1803 Introduction to Information Systems Instructor: Kerry Augustine Functional Area Systems Accounting Information Systems Lecture Outline 4, Part 2 ACS-1803 Introduction to Information Systems Functional

More information

ACC106 Office Accounting I Administration Outline

ACC106 Office Accounting I Administration Outline ACC106 Office Accounting I Administration Outline Course Information Organization Mercer County Community College Credits 3 Contact Hours 3 Description Basic accounting course designed for non-transfer

More information

CHAPTER 2. Job Order Costing. Brief A B Study Objectives Questions Exercises Do It! Exercises Problems Problems

CHAPTER 2. Job Order Costing. Brief A B Study Objectives Questions Exercises Do It! Exercises Problems Problems CHAPTER 2 Job Order Costing ASSIGNMENT CLASSIFICATION TABLE Brief A B Study Objectives Questions Exercises Do It! Exercises Problems Problems 1. Explain the characteristics 1, 2, 3, 4 and purposes of cost

More information

WAYNESBORO AREA SCHOOL DISTRICT CURRICULUM ACCOUNTING I

WAYNESBORO AREA SCHOOL DISTRICT CURRICULUM ACCOUNTING I COURSE NAME: Accounting I UNIT: Service Business Organized as a Proprietorship NO. OF DAYS: 70 KEY LEARNING(S): Analyzing, journalizing, and posting transactions; preparing financial reports; analyzing

More information

Accounting I (Level 2) Vocabulary/Content

Accounting I (Level 2) Vocabulary/Content Unit 1: Introduction to Accounting Accounting I (Level 2) Suggested Duration: about 30 days Standards, Big Ideas, and Essential Questions Competencies and Accounting Core Skills Vocabulary/Content Instructional

More information

COPYRIGHTED MATERIAL. FEATURE STORY: Financial Reporting: A Matter of. FEATURE STORY: No Such Thing as a Perfect

COPYRIGHTED MATERIAL. FEATURE STORY: Financial Reporting: A Matter of. FEATURE STORY: No Such Thing as a Perfect D E T A I L E D C O N T E N T S CHAPTER 1 HOSPITALITY ACCOUNTING IN ACTION 1 FEATURE STORY: Financial Reporting: A Matter of Trust 1 What Is Accounting? 2 Who Uses Accounting Data? 4 Brief History of Accounting

More information

Accounting Information Systems for A Distribution Company

Accounting Information Systems for A Distribution Company Accounting Information Systems for A Distribution Company Alexander Setiawan Email: Alexander [AT] petra.ac.id Silvia Rostianingsih Jennifer Giovanni Sumargo Abstract A distribution company with consigned

More information

ACCOUNTING FOR MERCHANDISING ACTIVITIES

ACCOUNTING FOR MERCHANDISING ACTIVITIES Chapter 6 ACCOUNTING FOR MERCHANDISING ACTIVITIES Presented by: Endra M. Sagoro Economic Faculty YSU endra_ms@uny.ac.id Operating Cycle of a Merchandising Company Cash Accounts Receivable 2. Sale of merchandise

More information

SECTION III. ACCOUNTING GUIDELINES AND DOCUMENTS

SECTION III. ACCOUNTING GUIDELINES AND DOCUMENTS SECTION III. ACCOUNTING GUIDELINES AND DOCUMENTS A. ACCOUNTING GUIDELINES AND DOCUMENTS APPROVED BY THE MINISTRY OF FINANCE For the purpose of implementing the accounting standards based on IAS, the Ministry

More information

MERCHANDISING TRANSACTIONS: INTRODUCTION TO INVENTORIES AND CLASSIFIED INCOME STATEMENT

MERCHANDISING TRANSACTIONS: INTRODUCTION TO INVENTORIES AND CLASSIFIED INCOME STATEMENT Learning Objectives CHAPTER 6 MERCHANDISING TRANSACTIONS: INTRODUCTION TO INVENTORIES AND CLASSIFIED INCOME STATEMENT 1. Record journal entries for sales transactions involving merchandise. 2. Describe

More information

6) Items purchased for resale with a right of return must be presented separately from other inventories.

6) Items purchased for resale with a right of return must be presented separately from other inventories. Chapter 8 Cost-based Inventories and Cost of Sales 1) Inventories are assets consisting of goods owned by the business and held for future sale or for use in the manufacture of goods for sale. Answer:

More information

Exercise E21-1 page 886. (a) Factory Labor 103,000 Factory Wages Payable 90,000 Employer Payroll Taxes Payable 9,000

Exercise E21-1 page 886. (a) Factory Labor 103,000 Factory Wages Payable 90,000 Employer Payroll Taxes Payable 9,000 Exercise E21-1 page 886 (a) Factory Labor 103,000 Factory Wages Payable 90,000 Employer Payroll Taxes Payable 9,000 Employer Fringe Benefits Payable 4,000 (b) Work in Process Inventory 87,550 Manufacturing

More information

CHAPTER 2. Conceptual Framework for Financial Reporting 9, 10, 11 9, Basic assumptions. 12, 13, 14, 25 8, 9 6, 7, 9

CHAPTER 2. Conceptual Framework for Financial Reporting 9, 10, 11 9, Basic assumptions. 12, 13, 14, 25 8, 9 6, 7, 9 Intermediate Accounting 16th Edition Kieso Solutions Manual Full Download: http://testbanklive.com/download/intermediate-accounting-16th-edition-kieso-solutions-manual/ CHAPTER 2 Conceptual Framework for

More information

Business. Smyth County Schools Curriculum Map Grade:10-12 Subject:Accounting. Understanding the Accounting Cycle for a Service Business

Business. Smyth County Schools Curriculum Map Grade:10-12 Subject:Accounting. Understanding the Accounting Cycle for a Service Business Grade:10-12 Subject:Accounting 1st Quarter 2nd Quarter Standards Implementing Virginia's CTE Course Requirements 001 Demonstrate Virginia's Workplace Readiness Skills in course activities. 002 Apply Virginia's

More information

Chapter 2 (new version)

Chapter 2 (new version) Chapter 2 (new version) MULTIPLE CHOICE 1. An agreement between two entities to exchange goods or services or any other event that can be measured in economic terms by an organization is a) give-get exchange

More information

COURSE DESCRIPTION. Rev 2.0 March 2017

COURSE DESCRIPTION. Rev 2.0 March 2017 COURSE DESCRIPTION This CE course provides information on inventory management. Information discussed includes inventory methods and accounting systems, cost of goods sold, and inventory turnovers and

More information

QAD FINANCIALS BENEFITS

QAD FINANCIALS BENEFITS QAD FINANCIALS CFOs, finance managers and controllers of manufacturing companies deal with a wide variety of strategic and operational challenges. CFOs constantly balance risk with the need for strategic

More information

CHAPTER 5: MERCHANDISING OPERATIONS

CHAPTER 5: MERCHANDISING OPERATIONS CHAPTER 5: MERCHANDISING OPERATIONS CHAPTER SYNOPSIS Chapter 5 first compares a service business with a merchandising business and then discusses the purchase and sale of merchandise inventory. The chapter

More information

Office of Curriculum, Instruction, and Technology. Accounting I. Grade 9, 10, 11, or 12. Prerequisites: None. Credit Value: 5 ABSTRACT

Office of Curriculum, Instruction, and Technology. Accounting I. Grade 9, 10, 11, or 12. Prerequisites: None. Credit Value: 5 ABSTRACT Office of Curriculum, Instruction, and Technology Accounting I Prerequisites: None Credit Value: 5 ABSTRACT The Accounting I course provides an introduction to the accounting processes and procedures of

More information

CHAPTER 20 JOB ORDER COST ACCOUNTING SUMMARY OF QUESTIONS BY STUDY OBJECTIVES AND BLOOM S TAXONOMY. True-False Statements

CHAPTER 20 JOB ORDER COST ACCOUNTING SUMMARY OF QUESTIONS BY STUDY OBJECTIVES AND BLOOM S TAXONOMY. True-False Statements CHAPTER 20 JOB ORDER COST ACCOUNTING SUMMARY OF QUESTIONS BY STUDY OBJECTIVES AND BLOOM S TAXONOMY Item SO BT Item SO BT Item SO BT Item SO BT Item SO BT True-False Statements 1. 1 K 8. 2 K 15. 2 K 22.

More information

Accounting Chapter 4 Test A

Accounting Chapter 4 Test A ACCOUNTING CHAPTER 4 TEST A PDF - Are you looking for accounting chapter 4 test a Books? Now, you will be happy that at this time accounting chapter 4 test a PDF is available at our online library. With

More information

Full file at https://fratstock.eu CHAPTER 2

Full file at https://fratstock.eu CHAPTER 2 CHAPTER 2 Conceptual Framework for Financial Reporting ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Concepts for Analysis 1. Conceptual framework general. 2. Objective

More information

CHAPTER 2. Conceptual Framework for Financial Reporting 9, 10, 11 9, Basic assumptions. 12, 13, 14, 25 8, 9 6, 7, 9

CHAPTER 2. Conceptual Framework for Financial Reporting 9, 10, 11 9, Basic assumptions. 12, 13, 14, 25 8, 9 6, 7, 9 CHAPTER 2 Conceptual Framework for Financial Reporting ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Concepts for Analysis 1. Conceptual framework general. 2. Objective

More information

After completing this course, the student should be able to:

After completing this course, the student should be able to: 1 Department : Office Systems Technology Course Title : Introduction to Accounting Section Name : ACNT 1403 Start Date : 01/11/2011 End Date : 05/06/2011 Modality Credit : 4 Instructor Information Name

More information

Chapter 8 Inventories: Measurement

Chapter 8 Inventories: Measurement Chapter 8 Inventories: Measurement QUESTIONS FOR REVIEW OF KEY TOPICS Question 8 1 Inventory for a manufacturing company consists of (1) raw materials, (2) work in process, and (3) finished goods. Raw

More information

Accounting Information System Wiley 10th Edition

Accounting Information System Wiley 10th Edition ACCOUNTING INFORMATION SYSTEM WILEY 10TH EDITION PDF - Are you looking for accounting information system wiley 10th edition Books? Now, you will be happy that at this time accounting information system

More information

The Business Firm as a System

The Business Firm as a System Chapter 2: The Business Environment and the AIS The Business Firm as a Environment of the Firm Business Firm Organization Information Operational Organization s functions AIS Transaction Cycles Business

More information

BUSINESS and FINANCE TECHNOLOGY CURRICULUM. For ACCOUNTING I. (Elective Course)

BUSINESS and FINANCE TECHNOLOGY CURRICULUM. For ACCOUNTING I. (Elective Course) BUSINESS and FINANCE TECHNOLOGY CURRICULUM For ACCOUNTING I (Elective Course) Supports Academic Learning Objective # 3 - Students and graduates of Ledyard High School will employ problem-solving skills

More information

Financial Accounting Ifrs Edition 2nd Edition

Financial Accounting Ifrs Edition 2nd Edition FINANCIAL ACCOUNTING IFRS EDITION 2ND EDITION PDF - Are you looking for financial accounting ifrs edition 2nd edition Books? Now, you will be happy that at this time financial accounting ifrs edition 2nd

More information

ACCOUNTING FOR MERCHANDISING OPERATIONS

ACCOUNTING FOR MERCHANDISING OPERATIONS Chapter 05 ACCOUNTING FOR MERCHANDISING OPERATIONS PowerPoint Authors: Susan Coomer Galbreath, Ph.D., CPA Charles W. Caldwell, D.B.A., CMA Jon A. Booker, Ph.D., CPA, CIA Cynthia J. Rooney, Ph.D., CPA McGraw-Hill/Irwin

More information

Palmyra Area School District 1125 Park Drive Palmyra, 17078

Palmyra Area School District 1125 Park Drive Palmyra, 17078 Palmyra Area School District 1125 Park Drive Palmyra, 17078 Planned Instruction for: Grade Levels: 11, 12 Authors: PALMYRA AREA SCHOOL DISTRICT Overview Grade Levels: 11, 12 Course Description This course

More information

COURSE TITLE. Honors Accounting LENGTH. Full Year Grades DEPARTMENT. Business Education Barbara O Donnell, Supervisor SCHOOL

COURSE TITLE. Honors Accounting LENGTH. Full Year Grades DEPARTMENT. Business Education Barbara O Donnell, Supervisor SCHOOL COURSE TITLE Honors Accounting LENGTH Full Year Grades 11-12 DEPARTMENT Business Education Barbara O Donnell, Supervisor SCHOOL Rutherford High School DATE Fall 2016 Honors Accounting Page 1 I. Introduction/Overview/Philosophy

More information

Study Guide 20. Part One Identifying Accounting Terms. Column II. Answers. Column I

Study Guide 20. Part One Identifying Accounting Terms. Column II. Answers. Column I Study Guide 20 Name Identifying Accounting Terms Analyzing Inventory Systems Analyzing LIFO, FIFO, and Weighted-Average Methods Total Perfect Score 9 Pts. 10 Pts. 12 Pts. 31 Pts. Your Score Part One Identifying

More information

Advanced Accounting (Level 1) Vocabulary/Content

Advanced Accounting (Level 1) Vocabulary/Content Unit 1: Introduction to Accounting (Module 1 Chapters 1 & 2) Suggested Duration: about 30 days Advanced Accounting (Level 1) Standards, Big Ideas, and Essential Questions Competencies and Accounting Core

More information

YAVAPAI COLLEGE/PRESCOTT UNIFIED SCHOOL DISTRICT District Instructional Guide (DIG) Year-Long Semester Pacing Guide 2015/2016 School Year

YAVAPAI COLLEGE/PRESCOTT UNIFIED SCHOOL DISTRICT District Instructional Guide (DIG) Year-Long Semester Pacing Guide 2015/2016 School Year YAVAPAI COLLEGE/PRESCOTT UNIFIED SCHOOL DISTRICT District Instructional Guide (DIG) Year-Long Semester Pacing Guide 2015/2016 School Year School: Prescott High dual enrolled with Yavapai College Grade

More information

Heintz & Parry. 20 th Edition. College Accounting

Heintz & Parry. 20 th Edition. College Accounting Heintz & Parry 20 th Edition College Accounting Chapter 13 Accounting for Merchandise Inventory 1 Explain the impact of merchandise inventory on the financial statements. Errors in inventory will cause

More information

SAP FINANCIAL CONSOLIDATION 10.0 STARTER KIT FOR IFRS SP5. Simplified Configuration Description

SAP FINANCIAL CONSOLIDATION 10.0 STARTER KIT FOR IFRS SP5. Simplified Configuration Description SAP FINANCIAL CONSOLIDATION 10.0 STARTER KIT FOR IFRS SP5 Simplified Configuration Description 1 Copyright 2012 SAP BusinessObjects. All rights reserved. SAP BusinessObjects and its logos, BusinessObjects,

More information

Link download full: Solution Manual for Accounting Information Systems 13th Edition by Romney

Link download full: Solution Manual for Accounting Information Systems 13th Edition by Romney Link download full: Solution Manual for Accounting Information Systems 13th Edition by Romney http://testbankcollection.com/download/solution-manual-for-accountinginformation-systems-13th-edition-by-romney

More information

Manufacturing. Manufacturing Game : Participant s Guide Léger et al. (2012) ERPsim Lab, HEC Montréal.

Manufacturing. Manufacturing Game : Participant s Guide Léger et al. (2012) ERPsim Lab, HEC Montréal. Manufacturing 1 CHAPTER 3 FINANCIAL BUSINESS PROCESSES This chapter explains various business processes required to run your organization in SAP. There are two types of business processes you will perform

More information

1/2/2019 5:27 AM Approved (Changed Course) BBK 50 Course Outline as of Fall 2017

1/2/2019 5:27 AM Approved (Changed Course) BBK 50 Course Outline as of Fall 2017 1/2/2019 5:27 AM Approved (Changed Course) BBK 50 Course Outline as of Fall 2017 CATALOG INFORMATION Dept and Nbr: BBK 50 Title: COMPUTER BBKG & ACCTG 1 Full Title: Computerized Bookkeeping and Accounting

More information

2014/2015 School Year. Unit / Theme Content (Nouns) Skills (Verbs) YC Learning Outcomes & Course Content/ADE Standards

2014/2015 School Year. Unit / Theme Content (Nouns) Skills (Verbs) YC Learning Outcomes & Course Content/ADE Standards School : Prescott High dual enrolled with Yavapai College YAVAPAI COLLEGE/PRESCOTT UNIFIED SCHOOL DISTRICT District Instructional Guide (DIG) Year Long Semester Pacing Guide Subject: YC: ACC131 (Principles

More information

JEFFERSON COLLEGE COURSE SYLLABUS BUS107 BOOKKEEPING. 3 Credit Hours. Prepared by Ron Trucks. Revised by Ron Trucks March 2011

JEFFERSON COLLEGE COURSE SYLLABUS BUS107 BOOKKEEPING. 3 Credit Hours. Prepared by Ron Trucks. Revised by Ron Trucks March 2011 JEFFERSON COLLEGE COURSE SYLLABUS BUS107 BOOKKEEPING 3 Credit Hours Prepared by Ron Trucks Revised by Ron Trucks March 2011 CAREER & TECHNICAL EDUCATION BUS107 Bookkeeping I. CATALOGUE DESCRIPTION A. Prerequisite:

More information

Finance Committee, Board of Health Elizabeth Bowden, Interim Director of Administrative Services FINANCIAL CONTROLS CHECKLIST

Finance Committee, Board of Health Elizabeth Bowden, Interim Director of Administrative Services FINANCIAL CONTROLS CHECKLIST March 20, 2016 Report To: Submitted by: Subject: Finance Committee, Board of Health Elizabeth Bowden, Interim Director of Administrative Services FINANCIAL CONTROLS CHECKLIST RECOMMENDATION(S): (a) That

More information

Chapter 2--Financial Reporting: Its Conceptual Framework

Chapter 2--Financial Reporting: Its Conceptual Framework Chapter 2--Financial Reporting: Its Conceptual Framework Student: 1. Accounting principles are theories, truths, and propositions that service as the basis for financial accounting and reporting. True

More information

Accounting 101 Class Notes Chapter 4 Accounting for Merchandising Operations

Accounting 101 Class Notes Chapter 4 Accounting for Merchandising Operations I. WHAT IS A MERCHANDISER? Merchandiser vs. Service Business Wholesaler vs. retailer This chapter changes the focus from a service-oriented business to a merchandising form of business. Merchandisers buy

More information

Palmyra Area School District 1125 Park Drive Palmyra, 17078

Palmyra Area School District 1125 Park Drive Palmyra, 17078 Palmyra Area School District 1125 Park Drive Palmyra, 17078 Planned Instruction for: Grade Levels: 10, 11, 12 Authors: PALMYRA AREA SCHOOL DISTRICT Overview Course Description gives the student an overall

More information