Chapter 2. Transaction Processing in the AIS. Outline. Expected outcomes Accounting and bookkeeping The accounting cycle Internal control in the accounting cycle Coding systems Human judgment and information technology. Expected outcomes. Differentiate accounting and bookkeeping.
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Transaction Processing in the AIS
The process of
Economic information to permit
By users of the information.
The elements of accounting associated with
How would you record these transactions in the journal?
To account for timing differences between cash flow and accrual basis revenue & expense
Service first, cash second
Cash first, service second
Working with a partner, write down two things you remember about the accounting cycle from your previous coursework. Also write down two things you don’t remember.
Which coding system(s) does your university use for course designations?