SALCEDO, ANNE PAULINE S.

OL22M18
BSBA-MM

BPACT ACTIVITY #5:

Direction: Explain each questions, before you begin writing , read the passage
carefully and plan what you will say. Your essay should be as well organized
and as carefully written as you can make it.

1. The accounting cycle involves ten steps to accomplish the accounting

process. Enumerate.

The 10 steps are:

1. Analyzing transactions
2. Entering journal entries of the transactions
3. Transferring journal entries to the general ledger
4. Crafting unadjusted trial balance
5. Adjusting entries in the trial balance
6. Preparing an adjusted trial balance
7. Processing financial statements
8. Closing temporary accounts
9. Preparing post-closing trial balance
10. Reversing entries.

2. What are the types of accounting information systems. enumerate.

TYPES OF ACCOUNTING INFORMATION SYSTEMS

 Manual system – utilize paper-based journals (general and special) and

Ledger (general and subsidiary)
 Computer-based Transaction System – Replace paper records with computer
records.
 Database systems – Embed accounting data within the business event data
on which they are based.

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