IT Elective 5: Accounting Information Systems (LAB)

John Edwin M. Serrano BSIT 3A I.T Elective 5: Accounting Information System(LAB) Hello, My name is  John Edwin M. Serrano. A 3rd Year BSIT Student from Gordon College, College of Computer Studies. This blog is my seatwork in I.T Elective 5: Accounting Information System(LAB). 1.  Transaction Cycle - An interconnected chain of business transactions. A small number of cycles that deal with the buying and selling of goods, paying suppliers and employees, and repaying lenders can be used to organize the majority of these transactions. In an Accounting information systems, TPS is the most fundamental system that is responsible for  recording of Transaction in Journals and vouchers and distributing necessary information for daily operations . There are three main Subsystems of TPS including  the revenue cycle, the expenditure Cycle and the conversion cycle. all of these cycles support different objectives. All of these have similar characteristics. For example, all three capture financial tr