Scribd Logo
Upload

Welcome to Scribd!

  • 54 views

    Chap 007

    Uploaded by

    Ela Pelari
    Fundamental Accounting Principles Chapter 7 ppt

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd

    Chap 007

    Uploaded by

    Ela Pelari
    54 views16 pages
    Fundamental Accounting Principles Chapter 7 ppt

    Copyright

    © © All Rights Reserved

    Available Formats

    PPT, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Fundamental Accounting Principles Chapter 7 ppt

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    54 views16 pages

    Chap 007

    Uploaded by

    Ela Pelari
    Fundamental Accounting Principles Chapter 7 ppt

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 16

    Chapter 7

    ACCOUNTING INFORMATION SYSTEMS

    PowerPoint Authors:
    Susan Coomer Galbreath, Ph.D., CPA
    Charles W. Caldwell, D.B.A., CMA
    Jon A. Booker, Ph.D., CPA, CIA
    Cynthia J. Rooney, Ph.D., CPA

    McGraw-Hill/Irwin Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved.
    7-2

    C1

    COMPONENTS OF ACCOUNTING SYSTEMS


    Increasingly, source documents are
    electronic files creating a “paperless”
    system.

    •Keyboards •Hardware
    •Scanners •Software
    •Modems •Professional Judgment
    •Bar-Code Reader
    7-3

    C1

    COMPONENTS OF ACCOUNTING SYSTEMS


    •Printer
    •Monitor
    •Projectors
    •Web communications

    •CD/DVD
    •Hard Drive
    •Tape
    •Paper Document
    7-4

    C2

    SPECIAL JOURNALS IN ACCOUNTING


    7-5

    C3

    SUBSIDIARY LEDGERS
    Controlling
    Characteristic Subsidiary Ledger
    Account

    Amounts due Accounts Accounts Receivable


    from customers Receivable Ledger
    Amounts owed Accounts Accounts Payable
    to creditors Payable Ledger

    Subsidiary ledgers are a listing of individual


    accounts with common characteristics.
    7-6

    C3

    ACCOUNTS RECEIVABLE LEDGER

    After all items are posted, the balance in the accounts receivable controlling account is
    equal to the sum of the balances in the accounts receivable subsidiary ledger.
    7-7

    P1

    SALES JOURNAL
    7-8

    P2

    PROVING THE LEDGERS

    A schedule of
    accounts receivable
    lists each customer
    and the balance
    owed.

    The balance of the Accounts Receivable controlling


    account in the general ledger should equal the accounts
    in the accounts receivable subsidiary ledger.
    7-9

    P1

    SALES TAXES

    Governmental agencies often


    require sellers to collect sales
    taxes from customers and to
    periodically send these taxes
    to the appropriate agency.
    7 - 10

    P1

    Cash Receipts Types


    1. Cash from credit
    customers
    2. Cash from cash
    sales
    3. Cash from other
    sources
    7 - 11

    P1

    FOOTING, CROSSFOOTING, AND POSTING


    7 - 12

    P1
    7 - 13

    P2

    PROVING THE LEDGER

    A schedule of
    accounts payable
    lists each supplier
    and the balance
    owed to them.

    The balance of the Accounts Payable controlling


    account in the general ledger should equal the
    accounts in the accounts payable subsidiary ledger.
    7 - 14

    P1
    7 - 15

    P1

    GENERAL JOURNAL TRANSACTIONS


    Adjusting
    Entries

    Closing
    Entries
    Purchase
    Returns &
    Allowances
    Sales
    Returns &
    Allowances
    7 - 16

    END OF CHAPTER 7

    You might also like