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Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127

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BuyFindarrow_forward

Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127
Textbook Problem

This chapter assumed that the controller was the source of all adjusting entry journal vouchers. Mention at least one alternative source for each of the following adjustments (and explain your answers):

  1. a. Estimated bad debts
  2. b. Interest accruals
  3. c. Lower of cost or market adjustments for inventories
  4. d. Lower of cost or market adjustments for investments
  5. e. Depreciation adjustments
  6. f. Differences between physical inventory counts and perpetual inventories

a)

Summary Introduction

To mention: The alternative source for the adjustment.

Introduction:

General ledger/business reporting process (GL/BR):

General ledger can be defined as the central data repository needed to develop the business reports. The business reports and other forms of information generation are all derived from the general ledger data repository. The GL/BR process is considered as a central activity of the accounting information systems.

Explanation

The alternative source for the adjustment:

Estimated bad debts:

The B/AR/CR process reports the bad debts to GL/BR process...

b)

Summary Introduction

To mention: The alternative source for the adjustment.

Introduction:

General ledger/business reporting process (GL/BR):

General ledger can be defined as the central data repository needed to develop the business reports. The business reports and other forms of information generation are all derived from the general ledger data repository. The GL/BR process is considered as a central activity of the accounting information systems.

c)

Summary Introduction

To mention: The alternative source for the adjustment.

Introduction:

General ledger/business reporting process (GL/BR):

General ledger can be defined as the central data repository needed to develop the business reports. The business reports and other forms of information generation are all derived from the general ledger data repository. The GL/BR process is considered as a central activity of the accounting information systems.

d)

Summary Introduction

To mention: The alternative source for the adjustment.

Introduction:

General ledger/business reporting process (GL/BR):

General ledger can be defined as the central data repository needed to develop the business reports. The business reports and other forms of information generation are all derived from the general ledger data repository. The GL/BR process is considered as a central activity of the accounting information systems.

e)

Summary Introduction

To mention: The alternative source for the adjustment.

Introduction:

General ledger/business reporting process (GL/BR):

General ledger can be defined as the central data repository needed to develop the business reports. The business reports and other forms of information generation are all derived from the general ledger data repository. The GL/BR process is considered as a central activity of the accounting information systems.

f)

Summary Introduction

To mention: The alternative source for the adjustment.

Introduction:

General ledger/business reporting process (GL/BR):

General ledger can be defined as the central data repository needed to develop the business reports. The business reports and other forms of information generation are all derived from the general ledger data repository. The GL/BR process is considered as a central activity of the accounting information systems.

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