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Determine the Features of Accounting information system
Accounting information system must have certain features which are common to all valid information systems within a business. These are:
? Identifying and capturing relevant information (in this case financial information);
? recording the information collected in a systematic manner;
? Analysing and interpreting the information collected;
? reporting the information in a manner that suits the needs of users.
Relationship between these aspects is set out in Figure. Figure: The accounting information system There are four sequential stages of an
As discussed earlier, the base case public sector comparator (PSC) will be a benchmark for different project bidding proposals when choosing the preferred bidder to provide the bes
James Bell plans to stay at the Michaels Motel for one month, and he prepays his room charges. Bell arrives and begins his stay on January 21. To account for Bell's prepayment, at
A____ is a loss to the business and a gain to the debtor
No. Account Title Debit Credit 101 Cash . . . . .
how to prepare statement of financial position?
At current the working capital cycle is Receivables days $0.4m/$10m * 365 = 15 days Inventory days $0.7m/$8m * 365 = 32 days (cost of sales = $10m - $2m) Payables days $1.
Materials used by Company X in producing Division A's product are currently purchased from outside suppliers at a cost of $30 per unit. But the same materials are available from Di
How Accounting objectives can be achieved There are two main ways by which this can be achieved: All the accounting records are maintained at the head office; or Each
You are the auditor of a small private company called XYZ Limited. Last year, which was 20X9, the audit went smoothly and every balance on the financial statements was correct. Thi
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