Electronic Data Processing Systems

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

Computer based cash registers: Such systems automatically record various types of relevant data. Examples include employee codes, items and quantity purchased, totals due, type of

There are a number of different reporting requirements that are needed to comply with the SEC. These include the provision of financial statements on a quarterly basis (10-Q) along with an annual report (10-K). These statements must adhere to a specific format that governs how financial statements are prepared, and how the information is presented. There are many sections to these forms that must be included. Moreover, the information must be accurate, and prepared to guidelines laid out in the Generally Accepted

The requirements of the applicable financial reporting framework relevant to accounting estimates, including related disclosures

19. Receipts must be written for each amount received but they may be retained in the receipt book unless the payment is made in cash or the payer requests the receipt be given to them

The company accounts for these transactions as sales in accordance with Statement of Financial Accounting Standards No. 77, ‘’Reporting

There is a necessity to have either hardware or software to integrate the accounting information into an automated system for viewing by the proper individuals. Below, Learning Team A will show who needs to access this information, what controls will be implemented, the type of reports to be generated from these hardware or software and importantly what type of information will be available through corporate Intranet and the Internet. Having the proper hardware and software integrating Riordan's data into automated systems will make life easier for those involved with all the accounting cycles, especially accounts receivable.

As the business environment grows and companies find new ways to expand into their respective - or even new – markets, it is important that reporting standards stay up to date with changes and continue to assist companies in providing their users with useful accounting information. Information is labelled as being useful when it meets the

Describe the steps to be taken prior to inputting the data into the computerized system and how you would go about implementing the new system.

Bagranoff, N. A., Simkin, M. G., & Strand, N. C. (2008). Core Concepts of accounting information systems (10th Ed.). New York, NY:

In today's time the accounting and book keeping ranges from the old way of paper and pen to extremely large accounting data base systems for the major companies and organizations around the world; although either system could be used but

Account for the numerical sequence of invoices, shipping documents, and credit memos (S‑5; S‑6; S‑7).

•"General purpose financial report" means a financial report intended to meet the information needs common to users who are unable to command the preparation of reports tailored so as to satisfy, specifically, all of their information needs.

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 seven steps in the offering development process are listed by Tanner and Raymond as: