In contrast‚ computerized accounting systems are a more modern invention‚ as the first computer was invented between 1943 and 1946 (“Great Events in Accounting & Business History”‚ (n.d.)) and Arthur Anderson first computerized the payroll of General Electric in 1953 (“Great Events in Accounting & Business History”‚ (n.d.)). Powerful personal computers were not readily available to the average person until the 1980’s and 1990’s. Manual accounting‚ for the purposes of this paper‚ is the
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Unit 6 Assignment Eddie Mathis AC410-01‚ Unit 6 Professor Cochran 12–21. Nolan Manufacturing Company retains you on April 1 to perform an audit for the fiscal year ending June 30. During the month of May‚ you make extensive studies of internal control over inventories. All goods purchased pass through a receiving department under the direction of the chief purchasing agent. The duties of the receiving department are to unpack‚ count‚ and inspect the goods. The quantity
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GL INTERVIEW QUESTIONS 3) What is the difference between KFF & DFF? KFF - Keyflexfields are used throughout the Applications to uniquely identify organization’s financial information such as GL accounts‚ INV items‚ FIxed Assets and other entities that every business needs to keep track of. DFF- Descriptive flexfields enable you to capture additional pieces of information from transaction entered into Oracle EBS. 4) How can we identify whether DFF is allowed for a specific form or not? The
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Accounting 484x / 584x Name _____________________ Quiz 2 Fall 2012 20 points 1. Briefly describe two of the four components of the architecture underlying an enterprise system. (4 points) Components of the architecture underlying an ERP system: a) Systems configuration a. Organizations with concerns about the high cost of ERP and uncertain benefit may choose to purchase ERP services that are accessed through the internet (save the purchase price‚ hardware costs‚ and maintenance
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On September 1‚ the balance of the Accounts Receivable control account in the general ledger of Montgomery Company was $10‚960. The customers’ subsidiary ledger contained account balances as follows: Hurley $1‚440‚ Andino $2‚640‚ Fowler $2‚060 and Sogard $4‚820. At the end of September‚ the various journals contained the following information. Sales journal: Sales to Sogard $800‚ to Hurley $1‚260‚ to Giambi $1‚330‚ and to Fowler $1‚600. Cash receipts journal: Cash received from Fowler $1‚310‚ from
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Chapter Four Test Bank Multiple Choice Questions 1. A city’s General Fund general ledger includes accounts called Estimated Revenues‚ Appropriations‚ and Encumbrances. This indicates that the city a. formally integrates its budget into its accounts. b. uses a cash plus encumbrances basis of accounting. c. maintains its accounts on an accrual basis. d. erroneously reports encumbrances as expenditures. 2. Legal authority to expend resources is adopted by a city council in the budgeting process. These
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The Overall of the Company Chapter 1: Introduction Industrial training (BIT 3034) is a compulsory subject for all students in Multimedia University which to help the students be confidently prepared and move their steps into real working environment before their graduation. In addition‚ it is also to help students to have the future opportunity of employment after they graduate. Exposing students to join companies as trainee is to cultivate them on adapting the real-working life. Students will
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Lecturer/Head of Discipline – Accounting JAMES LIOW Email: james.liow@berjaya.edu.my Tel: +603-26877000 Page 1 of 4 ASSIGNMENT 2 QUESTION 1 At 1 March 2013 Jaya Ltd had a debit balance of $23‚450 on its Debtors Ledger Control Account and a credit balance of $17‚450 on its Creditors Ledger Control Account. Both balances had been reconciled with the individual accounts. During March 2013 the following transactions took place:$ Credit sales 19‚670 Credit purchases 17‚320 Bad debt written off 450 Increase
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influence the nature and structure of accounting systems of the organization 1.3 9 Identify the different components of business risk the organization may face in relation to its accounting system and financial management. 2.1 10 Briefly describe the general control system of the organization and analyze the impact of
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trial balance is a list with two columns‚ which are debit and credit. It is important to every company that they need to check the errors that maybe made during enter the transactions into general accounts. If the principles of the double entry have been correctly applied to the recording of transactions in ledger accounts‚ the total of debit balances will equal to the total of credit balances. So the total of the debit column should be equal to the total of credit column in the trial balance. The
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