Accounting Components
This component tracks goods available for sale.
What is Inventory?
The earliest accounting method relied on paper records.
What is Manual Accounting?
This component records money customers owe the business.
What is Accounts Receivable?
This accounting method uses software to process transactions.
What is Automated Accounting?
This component records money the business owes suppliers.
What is Accounts Payable?
This system connects multiple business functions together.
What is Integrated AIS?
This component manages long-term assets such as machinery and buildings.
What are Fixed Assets?
Accounting evolved from manual to automated and finally to this.
What is Integrated Accounting?
This is considered the central record-keeping component of accounting.
What is the General Ledger?
AIS stands for this.
What is Accounting Information System?