New Accounting Principles/Concepts
The Accounting Information system is a new concept for me, but in the class I learned that Data
Analytics helps excess noise and organize data. I have never heard about XBRL; however, I
learned in the class it is a way of communication between businesses to help reporting, filing,
and providing information to financial analysts, loan officers and investors. Moreover, I have
learned in basic and intermediate accounting class about fraud in the accounting system, in
spite I learned in this class how we can avoid fraud in the system by securing the data through
encryption and authentication. Basically, the accounting information system helps accountants
jobs because we all know that technology is increasing and accounting also needs it to make
everything perfect and free from error.
New Methods
I learned in the accounting information system different methods to calculate inventory items
and total sales through queries. I have learned how to calculate Account Receivables through
the help of Pivot table. We also determined from that whether the duty is segregated or not. We
also learned about five factors used to predict bankruptcy with the help of Altman’s Z score we
found out about distress zone, gray zone, or safe zone for bankruptcy.
New Technologies
