Answer the following questions to ponder: 1. When does an accounting information system becomes useful? 2. Research on accounting information systems available on the market and share what you found. 3. What is the relevance of having subsidiary ledgers aside from control accounts?

Answer the following questions to ponder: 1. When does an accounting information system becomes useful? 2. Research on accounting information systems available on the market and share what you found. 3. What is the relevance of having subsidiary ledgers aside from control accounts?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 5Q: Which area of accounting needs a computerized accounting information system the mostâ€”payroll, tax,...

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Computerized Accounting System

The Computerized Accounting System is generally a system of maintaining accounts using computers. In this method of accounting system, the accounting transactions are processed through the use of hardware and software to generate the reports such as journals, ledgers, trial balance, trading account, P/L accounts, balance and other reports.

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CHARACTERISTICS OF USEFUL INFORMATION All records in a file must be uniquely identifiable in at least one attribute, which is its primary key.Drawing on your general knowledge of accounting,identify the primary key for the following types ofaccounting records. To illustrate, the first record isdone for you.
Which area of accounting needs a computerized accounting information system the mostâ€”payroll, tax, or preparing financial statements?
Which of the following is false about accounting information systems? A. They provide reports that people analyze. B. They prevent errors and stop employees from stealing inventory. C. They are designed to gather data about the companys transactions. D. They consist of processes that involve input of data from source documents, processing, output, and storage.
External users of accounting information would include ________________. employees managers investors supervisors