Fap I PPT 2014 Ch-4
Fap I PPT 2014 Ch-4
Fap I PPT 2014 Ch-4
After all posting has been completed for the month, the
sum of the balances in the accounts receivable subsidiary
ledger should be compared with the balance of the
accounts receivable controlling account in the general
ledger.
If the controlling account and the subsidiary ledger do
not agree, the error or errors must be located and
corrected
Computerized Accounting Systems
Computerized accounting systems are similar to manual
accounting systems
The main advantages of a computerized accounting
system are
The simultaneous recording and posting of
transactions, to general and subsidiary ledger accounts.
The high degree of accuracy than manual systems and
The timeliness of reporting to provide management
current account balance information to support
decision making, since account balances are posted as
the transactions occur
An example of the revenue and collection cycle using
QuickBooks and Peachtree Accounting .
E-commerce
One survey has indicated that over 60% of businesses are
embracing e-commerce in some form.
Using the Internet to perform business transactions is
termed e-commerce.
When internet transactions are between a company and a
consumer, it is termed B2C e-commerce (business-to-
consumer)
When it is B2B e-commerce involves Internet transactions
between a business and another business (business-to-
business).
E-commerce can be used to improve the speed and
efficiency of the revenue/collection and purchase/
payment cycles.
More elaborate e-commerce applications involve planning
and coordinating suppliers, customers, and the product
design process
End of chapter four