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An accounting system is made up of the people, records, methods, and equipment that collect and process data from transactions and events, organize them in useful forms, and communicate results to decision makers. |
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A cash journal is a special journal that is used to record all payments of cash. It is also called a cash payments journal. |
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The special journal that is used to record all receipts of cash is called a cash journal. |
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A cash disbursements journal that has a column for cheque numbers is called a register. |
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A journal has more than one column. |
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An information system principle requiring that an accounting information system conform with a company's activities, personnel, and structure is the principle. |
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The physical equipment in a computerized accounting information system is called computer (HARDWARE or SOFTWARE) |
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A account is a general ledger account, the balance of which (after posting) equals the sum of the balances of the accounts in a related subsidiary ledger. |
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The standard is an information system standard requiring that an accounting information system aid managers in controlling and monitoring business activities. |
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An information system standard requiring that the benefits from an activity in an accounting information system outweigh the costs of that activity is called the cost standard. |
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Programs that manage a company's vital operations which range from order-taking programs to manufacturing to accounting are called - software. |
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A journal is used to record all purchases on credit. |
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A journal is used to records sales of merchandise on credit. |
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An information system standard requiring that an accounting information system reports useful, understandable, timely and pertinent information for effective decision-making is called the standard. |
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A list of the balances of all the accounts in the accounts payable ledger that is summed to show the total amount of accounts payable outstanding is called a of accounts payable. |
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The (GST, HST, PST) is a federal tax on the consumer on almost all goods and services. |
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The (GST, HST, PST) is a sales tax in the Atlantic Provinces that is a combination of other sales taxes. |
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The (GST, HST, PST) is a provincial tax collected by retailers on customer purchases. |
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or is a listing of individual accounts with a common characteristic. |
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is an accounting term meaning to add a column of numbers. |
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is an accounting term meaning to add debit and credit column totals and compare the sums for equality. |
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The five primary standards underlying an accounting information system (AIS) are , , , , and cost-benefit. |
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The four basic components of an AIS are , , payroll, and specialty components such as Capital Assets. |
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