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Chapter 16
In the accounting information system of an organization, the leading and reporting system plays
a crucial part. The consolidated archive must be arranged in a way that allows both internally and
externally parties achieve the data that needs to be met. Misleading general data is one of the general
challenges. Misleading general ledger data allow managers to decide misleading decisions. The
multiple controls of processing honesty are one of the ways to eliminate the danger of erroneous data
input as the treasurer and controller create journal entries. In the general ledger method, the first action
consists of reviewing the general ledger. Update includes publishing newspaper entries through two
sources, accounting subsystems and treasurers. A journal voucher file kept all the journal entries used
for updating the general directory. At this time, the challenges to updating the overview are incorrect
and illegal journal posts. The high probability of unauthorized entries in the logs is reduced by strict
access controls, including authentications and multifactorial consistency checks focused on
formulations. Reconciliations and control reports will identify if any mistakes have been
happened during the general ledger update phase. The planning of a test balance is one method of
reconciliation. The trial balance is a report which shows all of the accounts of the general public. The
audit trail demonstrates the process of an information system transactions impact the general account
accounts. The trail is a follow-up course. It is a valuable detective monitor which shows the reasons of
modifications to the balance sheets in general.
In the general leader scheme, the second task consists of publishing different adjusted entries.
After the original test equilibrium has been set, adjusting entries come from the control office. Entries
adjusted fell into five core divisions, accruals, deferrals, estimates, revaluations, and corrections.
Inaccurate adjusted journal entries are risks which must be handled because wrong financial statements
will result in bad choice. The same method of data entry accuracy controls mentioned earlier in order
to avoid a chance of mistaken entries from the treasurer should also apply to the adjustment of the
journal entries generated by the controller in order to minimize the risk of incorrect feedback. Financial
statements are prepared by the third operation in the general ledger and reporting scheme. Most
companies "lock books" weekly, quarterly, and yearly to deliver financial statements. XBRL stands for
eXtensible Business Reporting Language, a language primarily intended to promote the exchange of
knowledge to businesses. An instance document is called the XBRL file holding the marked data that
is sent to clients. An entity is named for each individual data object in an XBRL file. In an instance file
between tags, an element's unique meaning is shown. A taxonomy is a collection of data which describe
the different elements and their relationships. The schema is one of the part of taxonomy, which
comprises a document which defines each entity which may exist in an instance file. Another manual
which alleviate the issues. A balanced scorecard is a research that offers an organizational success
multidimensional view. Lastly, by comprehending the correct graphic design concepts.
