Archive for the 'Financial Accounting' Category

Information Operations and Accounting Information Management

Published on February 16, 2011 in Financial Accounting. 0 Comments Tags: , , .

Information operations – This information provides the raw data for accounting information financial and management accounting information. Information operations found in manufacturing companies, among others: information production; purchase information and use of raw materials; payroll information; sales information, etc.

Accounting Information Management – According to Anthony and Reece, accounting information specifically intended for management purposes is called management accounting information. This information is used in three management functions, namely: (1) planning, (2) implementation, (3) control. Management accounting information is generated by financial information processing system called MAS.

Management accounting information is presented to the company management in various reports, such as budgets, sales reports, expense reports production, cost reports according to responsibility center, cost report according to activity, and others.

What is Accounting Information

Published on February 12, 2011 in Financial Accounting. 0 Comments Tags: , , .

Belkaoui define accounting information as quantitative information about economic entities that are useful for making economic decisions in determining the choices between the alternatives of action. The use of accounting information for strategic planning, management control and operational supervision.

Information is essentially financial accounting and mainly used for the purpose of decision making, supervision and implementation of corporate decisions. For financial data can be put to good use by internal and external parties, then the data must be arranged in the appropriate forms. Accounting information is classified into three types: (a) information operations, (b) management accounting information, and (c) financial accounting information.

Accounting Definitions (Financial Report)

Published on February 11, 2011 in Financial Accounting. 0 Comments Tags: , , , .

Understanding of accounting according to the American Accounting Association is “Accounting as the process identifiying, measuring, and communicating economic information to permit informed judgments and decisions by users of the information. “

Economic information is information relating to various situations involving limited resources. The accounting process is terminated with the availability of financial reports.

Accounting Definitions by the AICPA accounting definition:

“Accounting is the art of recording, classifying, and summarizing in a significant manner and in terms of money, the which transactions and events are in part at least, of a financial character, and interpreting the results thereof “. Continue reading ‘Accounting Definitions (Financial Report)’