RSA_Chp 2

Accounting Information Systems

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Reflection and Self-Assessment - 2.1 Write your own definition of accounting based on your prior study of the field. What attracted you to the accounting profession? How have your impressions of accounting changed since you were first exposed to it? Accounting is recording data from transactions, analyzing the data and making decisions or enhancing decisions makers based on the analyzation. I was attracted to the accounting profession because the career path that led most people to become a chief executive is finance-accounting. I learned that from my very first accounting class’ textbook. I always have the idea of owning my business in the future and therefore, accounting is the right choice for me. I first thought about accounting as bookkeeping. All the accountants would do was knowing how to debit and credit the data correctly and managers would make decisions based on those data. Yet, after studying in the field for a while now, I know the accountants no longer only do the bookkeeping but more often, the accountants will be involved in the process of explaining the information and also making decisions if they get to certain positions in a company. I also find out that private accounting and public accounting are two different things. Reflection and Self-Assessment - 2.2 Identify two additional examples of source documents commonly used in organizations. What essential information would each document need to capture for input into the accounting information system? Another two additional examples of source documents commonly used in organizations are deposit slips, checks receiving from customers. 2-1
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Regarding the deposit slips, they should have the bank name, the time/date that they were deposited, and the deposit amount. With the checks receiving from customers, they should have the name of the customers, the amount, the date, the customers’ account number, customers’ signature, and the check should be made payable to the companies. 2-2
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Reflection and Self-Assessment - 2.3 Besides “debit” and “credit,” what other terminology do you know that refers to “left” and “right?” Based on your prior study of accounting, identify two specific examples of each element of financial statements discussed above.
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This note was uploaded on 08/09/2011 for the course ACNT 2332 taught by Professor Unknown during the Summer '10 term at HCCS.

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RSA_Chp 2 - Reflection and Self-Assessment 2.1 Write your...

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