AIS Overview
This is a group of two or more interrelated components or subsystems that serve a common purpose.
System
This cycle contains all processes that will be processed by a business in order to generate revenue (which may be in sale of goods, or revenue from the performance of services) to the eventual collection of the cash relating to the earned revenue.
Revenue Cycle
This is a commercial document prepared by a seller and issued to a customer. It confirms the sale of goods or services and details the sale’s specifics, including the quantity, pricing, and quality of goods or services provided.
Sales Order
What is the journal entry for paying purchases previously recorded as accounts payable?
Dr. Accounts Payable
Cr. Cash
What song did the fictional school International State College of the Philippines use as their Angelus?
Angel Baby
This is the set of FORMAL PROCEDURES by which data or information are collected, processed into information, and distributed to users.
Information system
This cycle contains all expenditures (or cash disbursements) that will be typically incurred by a business in order to maintain and support its operations.
Expenditure Cycle
This is an itemized list of goods shipped usually specifying the price and the terms of sale: bill.
Invoice
What is the accounting equation?
A=L+E
Who is the Filipino Valorant agent?
Neon
This is the process of dividing the system into smaller subsystem parts.
System Decomposition
This cycle contains all processes that will be typically performed by a company to summarize and report on the financial performance, the financial position, changes in equity, and cash flows for a particular period.
Financial Statements Closing Cycle
This is a document sent from a purchaser to a vendor to confirm a specific purchase of goods or services.
Purchase Order
According to IFRS 9, when should a financial instrument be recognized
Only when the entity becomes a party to the contractual provisions of the instrument.
Who said this line in Mobile Legends:
This land is our homeland, and will soon be your burial ground.
Lapu-Lapu
This provides internal management with special-purpose financial reports and information needed for decision making such as budgets, variance reports, and responsibility reports.
Management Reporting System
What accounting information system supports both the revenue and expenditure cycle?
Transaction Processing System
This is considered a legal document which provides all the vital details to the shipper and the carrier to conveniently process the freight shipment through different maritime countries and invoice it correctly.
Bill of Lading
Kanino Ka Lang Company invested 100,000 pesos in Sayo Company through purchase of ordinary share capital. What is the entry in Sayo Company's books?
Dr. Cash
Cr. Ordinary Share Capital
What is Peeta Mellark's favorite color?
Sunset kind of orange
This is a situation in which people in multiple levels of an organization share the same goal.
Goal congruence
This cycle transforms input resources (that is, materials, labor, and capital) into marketable products and services.
Conversion Cycle
This is a bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals that are equal.
Trial Balance
If the financial asset is measured at fair value through profit or loss, transaction costs directly attributable to the acquisition shall be
Expensed immediately when incurred
In the anime Oshi No Ko, what is the name of the pop idol group that Ai Hoshino belongs to?
B-Komachi