Respond to the following in a minimum of 175 words:
The main five components of accounting system are documents, inputs, input processor, storage and output which are required at different levels of management for record keeping and decision making.
Documents are the first step of record keeping to save the basic information and serves as a instrument of proof for the happening of transaction and for audit purposes. It includes vouching of transactions, recording in journal books and other subsidiary books, generations of invoices. These are all recorded in choronological order.
Inputs is entry of data in to the system of organisation for their long term storage and reference. This input is made using various devices as bar code scanners, keyboards etc.
Input processor is the step of processing recorded data to draw meaningful information out of it. It includes posting of transactions into ledger and putting them into records and cash flow statements, cost sheets etc.,for making decisions related to cost cutting, generation of cash, further investments and disinvestment to be made.
Storage involves the keeping of record for long term for further reference. It is done in physical forms such as books and files and in digital format in disks and drives. It is used to analyse the long term performance of business and for taxation purposes.
Output is analysed data and information drawn from accounts for the use of all the stakeholders of business. Such information is provided by the organisation in the form of printed reports or digital releases on their websites for public access.
Respond to the following in a minimum of 175 words: A component of an accounting system...
Respond to the following in a minimum of 175 words: What are some of the key differences between financial and managerial accounting? How do these differences impact the type of information that must be gathered and reported? What are the different types of decisions that users of financial accounting information must make? What are the different types of decisions that users of managerial accounting information must make?
Respond to the following in a minimum of 175 words: Internal control is a process that is designed to help firms reach their goals and objectives as measured with respect to maintaining reliability, operational efficiency and effectiveness, and consistent financial reporting. In addition, adequate internal control ensures mitigating risks and compliance with regulations and policies. Explain the five components of internal control.
Respond to the following in a minimum of 175 words: Share, in your own words, the difference between the fair value and equity methods of accounting for investments. In what situations would an accountant use one method over the other? What drawbacks, if any, are associated with each method?
Respond to the following in a minimum of 175 words: Discuss the role of regression analysis in business by using examples of how these models might work to make predictions. In your discussion, consider the various components of the output and how it might be of value to understanding the data. both linear and nonlinear
Respond to the following in a minimum of 175 words: Briefly discuss the advantages and disadvantages of three types of business structures. Briefly discuss which type of business is best suited for the three types of businesses structures you listed.
Respond to the following in a minimum of 175 words: What are some qualities of a topic that make it suitable for an argument paper? Share the topic you have chosen and discuss how it meets the criteria for an argument topic. What are the main components of an argument paper? How does an argument paper differ from a personal essay? Finally, what resources are you using to ensure you are able to use proper APA style within your paper?
Respond to the following in a minimum of 175 words: Discuss the major similarities and differences in accounting for for-profit and not-for-profit organizations. Be sure to consider differences in organizational ownership, fund accounting, and financial reporting. *Please do not copy & paste from a prior answer, I mean no disrespect by any means but some of those answers are not helpful and the reason I posted a question. Thanks, I appreciate any assistance.
Respond to the following in a minimum of 175 words: Two common types of leases are operating and financing leases. In your own words, describe and share examples of each. What are the major differences in accounting for each of these two types of leases?
Respond to the following in a minimum of 175 words: Today's datacenters are populated with not only physical hardware but systems hosting virtual machines and containers. These systems communicate locally and around the globe over networks. Discuss two different examples of threats to various parts of heterogeneous architectures and how they might manifest. Do not forget about the hardware, operating systems, applications, networks, and other integral parts. Discuss the threats in your classmates' posts.
Respond to the following in a minimum of 175 words: Explain the tax implications of compensation in the form of salary and wages from the perspectives of the employee and employer.