‫تكليف بحثي مقدم من‬

‫اسم‬
‫الطالب‬
‫كود‬
‫الطالب‬
‫رقم‬
‫الجلوس‬
‫الشعبة‬
‫الفرقة‪/‬‬
‫المستوي‬
‫اسم‬
‫المقرر‬
‫و كوده‬
‫أستاذ‬
‫المقرر‬

‫الجزء خاص بأعمال الكنترول‬

‫تاريخ اإلمتحان‬
‫تاريخ التسليم‬
‫‪-1‬‬ ‫أسماء السادة‬
‫‪-2‬‬ ‫المصححون‬
‫‪-3‬‬
‫رئيس الكنترول‬

‫‪1‬‬
 Summery

Introduction

Inventory should include all costs that are “ordinary and necessary” to put
the goods “in place” and “in condition” for resale.
This means that inventory cost would include the invoice price, freight-in,
and similar items relating to the general rule.
An accounting information system contains various elements important in
the accounting cycle. Although the information contained in a system
varies among industries and business sizes, employee information, and
tax information. Specific data includes sales orders and analysis reports,
purchase requisitions, invoices, check registers, inventory, payroll,
ledger, trial balance, and financial statement information.
If cash receipts of cash sales are recorded in the cash register in the
presence of the customers, it is almost certain that the cashier has
recorded be a correct figure of cash in cash register.
The acquisition cost of plant (fixed) assets is the cash or cash-equivalent
purchase price, including incidental costs required to complete the
purchase, to transport the asset, and to prepare it for use.
Topic:
Chapter 6: Inventories
Inventory means all goods and commodities that a company owns
For resale
Two inventory taking system:

2
 Perpetual System Provide continuous update of record to Cost of goods
sold and ending inventory. Periodic System: updates the accounting
records for merchandise inventory only at the end of accounting period
Cost flow assumption:
1- Specific identification An actual physical flow costing method
2. FIFO: First in, first out.: Generally is good business practice to sell
the oldest units first.
3. LIFO: Last In, First Out: The costs of the latest goods purchased are
the first to be recognized in determining cost of goods sold.
4. Weighted average: By dividing cost of goods available for sale by
number of units available for sale.
 The reasons companies adopt different inventory cost flow methods
are varied, but they usually involve one of three factors: (1) income
statement effects, (2) balance sheet effects, or (3) tax effects.
Lower of cost or market
 Inventory in balance sheet should reported at lower of cost or market.
Inventory errors:
 Unfortunately, errors occasionally occur in accounting for inventory
 When errors occur, they affect both the income statement and the balance
sheet.
Chapter 7: Accounting information system:

 If the accounting system is cost-effective, provides useful output, and

has the flexibility to meet future needs, it can contribute to both
individual and organizational goals.
A subsidiary ledger:
It is an addition to, and an expansion of, the general ledger and made daily.
Two common subsidiary ledgers are:
1. The accounts receivable (or customers’) subsidiary ledger, which
collects transaction data of individual customers.
2. The accounts payable (or creditors’) subsidiary ledger, which
collects transaction data of individual creditors.
3
 Special Journals
Companies use special journals to record similar types of transactions
Special journals in accounting includes:
1. Sales journal: journalize credit sales.
2. Cash receipts journal: journalize the received cash.
3. Purchase journal: Journalize purchases of inventory on account.
4. Cash payment journal: journalize the payment of cash.
General Journal
Still Used to record all transactions not recorded or covered by special
journal such: reversing, and correcting entries.

Chapter 8: Fraud and internal control , and cash:

Cash Resources that consist of coins, currency, checks, money
orders, and money on hand or on deposit in a bank or similar depository
Cash equivalents Short-term, highly liquid investments that can be
converted to a specific amount of cash.
Check A written order signed by a bank depositor, directing the bank to
pay a specified sum of money to a designated recipient
Petty Cash Fund: better internal control over cash disbursements
is possible when companies make payments by check. However, using
checks to pay small amounts is both impractical and a nuisance so, petty
cash is helpful in small payments. This is by (1) establishing the fund, (2)
making payments from the fund, and (3) replenishing the fund.
Control Features: Use of a Bank, Bank reconciliation:
The bank and the depositor maintain independent records of the
depositor’s checking account. In fact, the two balances are seldom the
same at any given time, and both balances differ from the “correct” or
“true” balance this is because:

4
 Outstanding checks, Deposit in transit, Bank error., Non sufficient fund,
Collection made by bank for notes receivable, Book error.
Chapter 9: Accounting for receivables
Receivables are important because they represent one of a company’s
most liquid assets
1. Accounts Receivable, 2. Notes Receivable and 3. Other Receivables
Accounts Receivable: are amounts customers owe on account. They
result from the sale of goods and services
1) Recognizing: A service organization records a receivable when it provides
service on account
2) Valuing Valuation can be difficult because an unknown amount of receivables
will become uncollectible (bad debts expense)
Two methods of accounting for uncollectible accounts are:
1) Direct Write off for uncollectible accounts: Bad Debts Expense will show
only actual losses from uncollectibles
2) Allowance method: estimating uncollectible accounts at the end of each period.
Estimating Bad Debts Expense For Allowance Method
1- Percentage of sales method. 2- Accounts receivables method.
3) Disposing of Accounts Receivable: A common sale of receivables
is a sale to a factor
Notes receivable
Promissory notes may be used (1) when individuals and companies lend or
borrow money, (2) when the amount of the transaction and the credit
period exceed normal limits, or (3) in settlement of accounts receivable In
a promissory note, the party making the promise to pay is called the maker.
The party to whom payment is to be made is called the payee
Chapter 10: Plant Assets, Natural Resources, and Intangible Assets
Plant Assets Long lived assets used for more than one period
Types of plant assets: 1. Land. 2.Land improvements. 3.Buildings. 4. Equipment.

5
 Recorded by purchasing cost
Depreciation Methods
1) Straight-line. 2) Units-of-activity. 3) Declining-balance. 4) Sum of year digits.
Disposals of Plant Assets by: A. Retirement. B. Sale of plant asset.
C. Exchange of plant asset
Natural Resources Depletion The allocation of the cost of a natural
resource to expense in a rational and systematic manner over the
resource’s useful life
Intangible Assets long-lived assets that do not possess physical
substance.
Third part:

An accounting information system must have a database structure to store

information. This database structure is typically programmed with query
language that allows for table and data manipulation
A business concern must have proper control over cash disbursements. A
business concern settles most of the cash transactions by cheques.For this
reason, internal control of cash payment is related to cheques and cash
payment authorization. In a cash disbursement control system, principles
of segregation of job responsibility are followed.
Most companies and self-employed people deal daily with customers to
whom they supply goods or services, these orders are not always paid for
immediately after execution, invoices are written and the accounting
department then takes care of managing the outstanding money owed to
the business
Reference list:
1. Accounting principles book, Kieso, Weygandt, Kimmel 13th edition.
2. Power point of accounting principles.