her Girl Team Mobile business. 1. Explain how a classified balance sheet can help Arynetta Floyzelle know what bills are due when‚ and whether she has the resources to pay those bills. A classified balance sheet organizes assets and liabilities into important subgroups that provide more information to decision makers. (Wild‚ 2013‚ p. 149) What makes this balance sheet unique is that it details the current & noncurrent assets and matches the information with the current & noncurrent
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Information Use In today’s business environment information is the most important asset a business has‚ this information helps to support‚ maintain‚ develop and track its daily activities. The next logical step is implementing a system that is conducive and geared towards this goal. With the help of its information system‚ and its information technology department‚ managers‚ sales people‚ the operations department and others with access to this information have a handy tool to help them do their
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1. An Accounting Information System (AIS) * collects and processes transaction data and disseminates the information to interested parties. * Helps management answer such questions as: * How much and what kind of debt is outstanding? * Were sales higher this period than last? * What assets do we have? * What were our cash inflows and outflows? * Did we make a profit last period? Basic Terminology (see Textbook for definitions) * Event * Transaction * Account
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Chapter 1 Accounting Information Systems and the Accountant True-False Questions 1. The acronym AIS stands for “Accounting Information Standards.” 2. Accounting information systems must be computerized to be effective. 3. It is best to view an AIS as an accounting system that must be computerized. 4. AISs often create information that is useful to non-accountants. 5. In order to be useful‚ raw accounting data must be processed by a computer. 6. The path that data follow in an AIS‚ for
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June 23‚ 2013 Information Use Paper Information can be used in an assortment of ways in today’s business world. Companies can use it to track profits and losses while others use it to forecast future industry trends so they can make informed decisions about what markets they should focus on. According to Opara (2003) “Information is the life blood of modern organizations.” Without this information‚ organizations would be making uninformed decisions. Information flows in a circular
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include trading‚ clearing‚ settlement and depository services (Dahmash‚ N.‚ 1995). There are numerous sectors listed under Bursa Malaysia; consumer products‚ technology‚ trading/services‚ industrial products‚ construction‚ plantation and more. Here in this paper‚ the discussion is focused on Zhulian Corporation Berhad‚ which is consumer product. The name Zhulian is originated from Chinese characters which means rapid growth and far sighted in the business contexts (www.zhulian.com). Zhulian
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An accounting information system (AIS) is a structure that a business uses to collect‚ store‚ manage‚ process‚ retrieve and report its financial data so that it can be used by accountants‚ consultants‚ business analysts‚ managers‚ chief financial officers (CFOs)‚ auditors and regulatory and tax agencies. In particular‚ specially trained accountants work with AIS to ensure the highest level of accuracy in a company’s financial transactions and recordkeeping and to make financial data easily available
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An accounting information system is system that keeps record for a business to maintain its accounting system. Accounting information systems combine the study and practice of accounting with the design‚ implementation and monitoring of information systems. The use of such systems uses modern information technology resources together with traditional accounting methods to provide the users with the necessary information to manage their Organisation. Accounting information systems has its strengths
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Information Use The design of information flow and security is a major concern in any enterprise. Without consistent and proper flow then statistical or decisional errors may occur. Therefore‚ the design of the information stream is a chief concern of the Information technologist. It is also important to safeguard the data from inappropriate viewing. To that end‚ it is important to map out the pattern. This example uses a doctor-patient visit in a medical clinic of the twenty-first century. The
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Accounting Information Systems Article Critique Introduction In the modern business management‚ information technology has become a very important tool‚ which has been used in different fields. As the branch of information system‚ accounting information system is the most important economic information in the enterprise; it continual‚ systematic and comprehensive reflects and supervises the condition of business. The purpose of this paper is to review one article and to discuss three relevant
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