Chapter 2 solutions

Chapter 2 solutions - Problem 2 Reading review problem a....

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Problem 2 Reading review problem a. Does the activity described above more closely resemble accounting or bookkeeping? Explain your answer . The activity described in Marlin’s article more closely resembles bookkeeping than accounting. It is focused on the mechanics of transaction processing, rather than on using the information for decisions. b. Use EDGAR to find the Form 10-K that VISA Inc. filed with the SEC on 21 November 2008. What AIS outputs are included in that filing ? The 10-K itself could be considered an output of the AIS. It includes the following items in the section titled “Consolidated Financial Statements:” Report of Independent Registered Public Accounting Firm, Consolidated Balance Sheets, Consolidated Statements of Operations, Consolidated Statements of Changes in Shareholders’ Equity, Consolidated Statements of Comprehensive Income, Consolidated Statements of Cash Flows and Notes to the Consolidated Financial Statements. c. Develop a coding system for the operating revenue and operating expense accounts listed in VISA Inc.’s income statement (Consolidated Statements of Operations) . Many answers are possible and acceptable here. I’m going to use a hierarchical coding system in which the
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This note was uploaded on 03/19/2011 for the course ACC 304 taught by Professor Martin,r during the Winter '08 term at Cal Poly Pomona.

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Chapter 2 solutions - Problem 2 Reading review problem a....

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