The Accounting Information System http://edugen.wileyplus.com/edugen/courses/crs6348/kieso978... Print this page CHAPTER 3 The Accounting Information System LEARNING OBJECTIVES After studying this chapter, you should be able to: 1. Understand basic accounting terminology. 2. Explain double-entry rules. 3. Identify steps in the accounting cycle. 4. Record transactions in journals, post to ledger accounts, and prepare a trial balance. 5. Explain the reasons for preparing adjusting
Words: 929 - Pages: 4
Electronic Accounting in Today's World Leigh M., Yahoo! Contributor Network May 18, 2007 "Contribute content like this. Start Here." .More: Accounting Software Accounts Receivable Accounting Accounting Degree .Share on Facebook Share on Twitter Print Flag Close 4 Helpful? Post a comment Just about everything in the world today has been affected by technology. Particularly, accounting has been affected to the highest degree. There is less paperwork and less guesswork. Accounting software has
Words: 360 - Pages: 2
1. Management accounting information focuses on external reporting. Answer: True/False 2. A good cost accounting system is narrowly focused on a continuous reduction of costs. Answer: True/False 3. Modern cost accounting plays a significant role in management decision making. Answer: True/False 4. Financial accounting is broader in scope than management accounting. Answer: True/False
Words: 2083 - Pages: 9
sure about the difference between cost accouting and a cost accounting system. Explain the difference to Joe. Answer: Cost accounting involves the measuring, recording, and reporting of product costs. A cost accounting system consists of manufacturing cost accounts that are fully integrated into the general ledger of a company. (b) What is an important feature of a cost accounting system? Answer: An important feature of a cost accounting system is the use of a perpetual inventory system that provides
Words: 478 - Pages: 2
When comparing Managerial Accounting information and Financial Accounting information, which of the following, related to Managerial Accounting information, would be true?(It is concerned with estimates of the results of future activities) 2.In which account are the costs of manufacturing a product (that is ready for sale) accumulated until such time as the product is sold? (Finished Goods Inventory)3. Fardohnya Industries, Inc. reports the following information at 12/31/2012: -Acquired $75,000 cash
Words: 3325 - Pages: 14
Seventh Edition Accounting for Decision Making and Control Jerold L. Zimmerman University of Rochester To: Conner, Easton, and Jillian ACCOUNTING FOR DECISION MAKING AND CONTROL, SEVENTH EDITION Published by McGraw-Hill, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY 10020. Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. Previous editions © 2009, 2006, and 2003. No part of this publication may be reproduced or distributed
Words: 209552 - Pages: 839
Pasadena City College Syllabus - MANAGERIAL ACCOUNTING - ACCT 001B Fall 2015 – 70008 (Revised) Date: Time: Location: September 1 – December 15, 2015 Tuesdays/Thursdays; 7:00am – 9:30am R 307, Building R Instructor: E-mail: Phone: Chee-Sum Tan, MBA, CPA, CFA, ABV, CGMA ctan8@pasadena.edu 626-524-1674 Required Material: Textbook: Accounting: Tools for Business Decision Making (5th Edition); Kimmel, Weygandt, Kieso, Wiley Publishing (WITH “WILEYPLUS”). WILEYPLUS IS REQUIRED
Words: 984 - Pages: 4
Eunice Eng Yoke Fang PBS1311031 Case Study (Galvaset) Company Background: Information Provided: Direct Labour Rate = $ 20 per hour Expected Production Level = 50 000 units Labor Hours Required = 200 000 hours Activity (Cost Driver) | Budgeted Costs for 2010 | Cost Driver Used as Allocation Based | Cost Allocation Rate | Material Handling | $ 325 000 | Number of parts used | $ 0.25 per part | Cutting & Lathe Work | $ 2 340 000 | Number of parts used | $ 1.80 per part | Assembly
Words: 1235 - Pages: 5
ACC 312 Fundamentals of Managerial Accounting Midterm Exam 1, Spring 2014 Test Form A SOLUTION Name ______________________________________________________________________ UTEID ____________________________________ Instructor ____________________________________________ Class Days ___________________ Time ______________________ DO NOT OPEN until given instructions to do so. Instructions Pages are numbered sequentially, including this page. Confirm that you have 11 pages. 1. Answers
Words: 4291 - Pages: 18
Ashley American InterContinental University Unit 3 Discussion Board Managerial Accounting ACCT310-1205B-06 January 27, 2013 Job order costing is used in situations where there are different products that are being produced each period. According to accounting for to management (2000), the costs are traced to the jobs and then the cost of the jobs that are divided by the number of the units in the job that are arrive at the cost per unit (para. 1). The type of industry that uses this type
Words: 491 - Pages: 2
