ACC 3202 Chapter Notes - Chapter 2: Gmail, Scalability, Expanded Access

• School: Baruch College
• Department: Accountancy
• Course: ACC 3202
• Professor: Ketki Mehta

Document Summary

And increases accuracy and pricing of items in order. It systems -> reduce error resulting in more accurate data. Business process: is a prescribed sequence of work steps completed in order to produce a desired result: initiated by event, well defined beginning and end, completed in relatively short period of time. As systematic steps are taken in business process. Accounting info systems must capture and record the related financial data. An accounting information system must maintain both detail and summary information. Detailed transaction data are taken from source documents, special journals, and subsidiary ledgers, and are summarized and posted to general ledgers. __________________________________: manual systems, often used by small organizations, source document is a record that captures key data of a transaction. Includes date, purpose, entity, quantities, and dollar amount: cashreceipts. Serves as permanent audit trail: turnaround document, output of accounting system that can be used as input in different part of accounting system.