Devry Acct 212 All Discussions Questions – New 2015

Romney, M., & Steinbart, P. (2012). Accounting information systems. (12th ed., p. 143). Upper Saddle River, NJ: Prentice Hall.

2. Complete the table below. First of all, describe two situations where you could be required to make revisions to budgets and / or budget plans and then explain why these revisions may be

Accounting is commonly described as the language of business. It is very important for all business owners to have very good understanding of their finances. Having the knowledge of your business finance, you will know where the money is going. Every business owner should have a good understanding of finance. To have a good understanding business owners needs to understand basic accounting steeps, how does accounting play a role in their business, how to define a financial statement and how the omission of any of these steps would affect the success of a business. Once you have an understanding of accounting/finance and the how it plays

4. What inventory method is used to value inventories? Does this method reflect current cost at year-end?

(TCO 4) Inventory valuation methods determine the cost of goods sold and the inventory balance. (1) Explain how the Average Cost method is applied (15 points) and (2) provide an example of the application of this method. (10 points) (Points : 25)

I suspect that most of us can view and appreciate most sports such as baseball, football, and basketball. What if you were to view a Cricket World Cup game? If you didn’t know the rules you probably would not have much fun. The same happens in business if you don’t understand its language – Accounting. What rules impact a business’ Accounting Information System? What types of compliance is required?

The methods of inventory valuation are different according to companies, but at the end of the day the chosen method should be

Accounting Information Systems The Crossroads of Accounting and IT by Donna Kay, Ali Ovlia Instructor’s Solutions Manual

ABSTRACT: It is challenging for students taking the introductory accounting information systems AIS course to envision how to apply the topics and concepts learned during the course in real-world situations. The motivation for this case study is to have groups of students apply the many topics and concepts learned in the first AIS course to a hypothetical real-world company situation, with particular emphasis on developing a proposed new and improved system for the

Information systems changed forever the way accounting tasks are processed. The days of green paper pads are gone, and instead businesses have a centralized place where all accounting transactions are entered and saved. No more looking for paper

The second assignment is based on Auditing database systems, Systems Development & Program change activities and Transaction processing & financial reporting systems. This paper will answer the problems specified in this second assignment, it will provide solutions to problems 5, 12, and 23 on pages 168, 220 and 288 respectively.

As more business entities continue to get involved in cross-border capital investments, globalization intensifies and considerable costs are applied to the translation of financial statements prepared under different accounting standards into a comparable form. Multiple number of accounting systems exist which create these differences and accounting is the language of business created by society to present information which reveals the economic health of a company. Like any other language there are many different accounting languages used across various regions of the globe to present this information.

Financial reporting being my last module in this course has been quiet rewarding and beneficial as it provides comprehensive guidance for the acquisition of requisite knowledge and skill to appraise my current role as an accountant. The theories, concepts and ideas introduces new areas otherwise would not have been exposed to, for example, potential uses and limitations of Extensible Business Reporting Language (XBRL). It laid solid foundation for the application of financial accounting, financial reporting and corporate governance in the course of my career as well provides a platform to enhance my understanding and competence in areas of financial reporting.

ii. To find out t the contribution of computerised accounting system in day to day operations.