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Accounting for Managers: Interpreting Accounting Information for Decision-Making, Canadian Edition by Eckhard Schumann, Sandy M. Kizan, Paul M. Collier

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CHAPTER 3

Recording Financial Transactions and Accounting and Information Systems

LEARNING OBJECTIVES

After reading this chapter, you should be able to answer the following questions:

images How is a business event recorded in the financial statements?

images How are the four basic types of accounts presented in the financial statements?

images For common business transactions, what source documents are used, which accounts are influenced, and do these transactions lead to an increase or decrease in these accounts?

images What basic accounting principles underlie financial statements and how do these principles influence financial statements?

images How are accounting data collected, stored, and controlled by the information systems of an organization?

images What types of controls should be in place within organizations to ensure that financial information is accurate and secure?

In order to understand the accounting scorekeeping ...

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