Ünite 6: Accounting/ Finance Information Systems — Sınav Hazırlık Notları

• Pay close attention to the triggering event of each cycle; for example, the revenue cycle is triggered by receiving a customer order.
• Do not confuse 'useful life' with 'economic life' of a fixed asset; useful life is business-specific, while economic life is manufacturer-defined.
• Remember the three-way match documents (Purchase Order, Receiving Report, Invoice) as they are a classic exam topic for internal control.
• Understand the difference between time cards (total hours for payroll) and job tickets (labor allocation for cost accounting).
• Note that the unadjusted trial balance is prepared on December 31st before adjusting entries, while the adjusted trial balance provides the final balances.
• Differentiate between AIS (focuses on recording past financial transactions) and FIS (focuses on future planning, cash management, and capital budgeting).