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 Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Chapter 7 ACCOUNTING INFORMATION SYSTEMS
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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
Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin
Chapter 7
ACCOUNTING INFORMATION SYSTEMS
7 - 2
COMPONENTS OF ACCOUNTING SYSTEMS C1
•Keyboards •Scanners •Modems •Bar-Code Reader
•Hardware •Software •Professional Judgment
Increasingly, source documents are electronic files creating a “paperless”
system.
7 - 3
COMPONENTS OF ACCOUNTING SYSTEMS C1
•CD/DVD •Hard Drive •Tape •Paper Document
•Printer •Monitor •Projectors •Web communications
7 - 4
SPECIAL JOURNALS IN ACCOUNTING C2
7 - 5
SUBSIDIARY LEDGERS
Subsidiary ledgers are a listing of individual accounts with common characteristics.
Characteristic Controlling Account Subsidiary Ledger
Amounts due from customers
Accounts Receivable
Accounts Receivable Ledger
Amounts owed to creditors
Accounts Payable
Accounts Payable Ledger
C3
7 - 6
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.
C3
7 - 7
SALES JOURNAL P1
7 - 8
PROVING THE LEDGERS P2
The balance of the Accounts Receivable controlling account in the general ledger should equal the accounts
in the accounts receivable subsidiary ledger.
A schedule of accounts receivable lists each customer
and the balance owed.
7 - 9
SALES TAXES P1
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
FOOTING, CROSSFOOTING, AND POSTING P1
7 - 12
P1
7 - 13
PROVING THE LEDGER P2
The balance of the Accounts Payable controlling account in the general ledger should equal the
accounts in the accounts payable subsidiary ledger.
A schedule of accounts payable lists each supplier and the balance owed to them.
7 - 14
P1
7 - 15
GENERAL JOURNAL TRANSACTIONS Adjusting Entries
Purchase Returns &
Allowances
Closing Entries
P1
Sales Returns & Allowances
7 - 16
END OF CHAPTER 7
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