What is segment reporting?

A type of financial reporting in which the firm discloses information by identifiable industry segments. For example, Union Pacific Corporation reports revenues, income, assets, depreciation, and capital expenditures for each of four segments: transportation, oil and gas, mining, and land. Segment reporting is required by the SEC in an attempt to provide stockholders and the public with better financial data. Also called line-of-business reporting. See also industry segment

Business Segment Reporting

What Does Business Segment Reporting Mean?
Giving separate accounts of a company's individual divisions, subsidiaries or other segments. In an annual report, the purpose of business segment reporting is to provide an accurate picture of a public company's performance to its shareholders. For upper management, business segment reporting is used to evaluate each segment's income, expenses, assets, liabilities and so on in order to assess profitability and riskiness.    

Investopedia explains Business Segment Reporting

A bank, for example, might use business segment reporting to separately account for its banking, credit card and financial services segments. If the bank had operations in both North America and Latin America, it might report on those separately as well.

Read more: http://www.investopedia.com/terms/b/business-segment-reporting.asp#ixzz1aulrjM8s

What Does Annual Report Mean?

1. An annual publication that public corporations must provide to shareholders to describe their operations and financial conditions. The front part of the report often contains an impressive combination of graphics, photos and an accompanying narrative, all of which chronicle the company's activities over the past year. The back part of the report contains detailed financial and operational information.

2. In the case of mutual funds, an annual report is a required document that is made available to fund shareholders on a fiscal year basis. It discloses certain aspects of a fund's  operations and financial condition. In contrast to corporate annual reports, mutual fund annual reports are best described as "plain vanilla" in terms of their presentation. 

Investopedia explains Annual Report
1. It was not until legislation was enacted after the stock market crash in 1929 that the annual report became a regular component of corporate financial reporting. Typically, an annual report will contain  the following sections:

                                                  -Financial Highlights
                                                  -Letter to the Shareholders
                                                  -Narrative Text, Graphics and Photos
                                                  -Management's Discussion and Analysis
                                                  -Financial Statements
                                                  -Notes to Financial Statements
                                                  -Auditor's Report
                                                  -Summary Financial Data
                                                  -Corporate Information

2. A mutual fund annual report, along with a fund's prospectus and statement of additional information, is a source of multi-year fund data and performance, which is made available to fund shareholders as well as to prospective fund investors. Unfortunately, most of the information is quantitative rather than qualitative, which addresses the mandatory accounting disclosures required of mutual funds.                       

Read more: http://www.investopedia.com/terms/a/annualreport.asp#ixzz1aum49GdZ

Full disclosure: Definition from Answers.com

Full disclosure: Definition from Answers.com

Accounting Information System

Accounting Information System

Section (A), Uzzal Kumar Acharjee

www.asyed375.blogspot.com

Chapter-1: (Accounting Information Systems: An Overview)

–        What is the meaning of system, data, and information?

–        What is an accounting information system (AIS)?

–        Why is the AIS an important topic to study?

–        What is the role of the AIS in the value chain?

–        How does the AIS provide information for decision making?

–        What are the basic strategies and strategic positions an organization can pursue?

Chapter-2: (Overview of Business Processes):

–        What are the basic business activities in which an organization engages?

•          What decisions must be made to undertake these activities?

•          What information is required to make those decisions?

–        What role does the data processing cycle play in organizing business activities and providing information to users?

–        What is the role of the information system and enterprise resource planning in modern organizations?

Chapter-3: (Systems Development and Documentation Techniques)

–        What is the purpose of documentation?

–        Why do accountants need to understand documentation?

–        What documentation techniques are used in accounting systems?

–        What are data flow diagrams and flowcharts?

•          How are they alike and different?

•          How are they prepared?

Chapter-6: (Relational Databases):

–        How are databases different than file-based legacy systems?

–        Why are databases important and what is their advantage?

–        What is the difference between logical and physical views of a database?

–        What are the fundamental concepts of database systems such as DBMS, schemas, the data dictionary, and DBMS languages?

–        What is a relational database, and how does it organize data?

–        How are tables structured to properly store data in a relational database?

Chapter-9: (Introduction to Systems Development and Systems Analysis)

–        What are the phases in the systems development life cycle?

–        Who are the individuals involved in systems development?

–        What techniques are used to plan the development of a system?

–        How do you determine whether a particular system is feasible?

–        How do people respond to systems changes, and how can dysfunctional behavior be minimized?

Accounting Information System

Important Topics to Cover

Course Name: Accounting Information System

Anup Kumar Saha

Lecturer,

Department of Accounting and Information Systems

Jagannath University

www.anupsaha.co.cc

Chapter 01:

1. Explain what an accounting information system (AIS) is and describe the basic functions it performs.
2. Discuss why studying the design and management of an AIS is important.
3. Explain the role played by the AIS in a company’s value chain and discuss ways that the AIS can add value to a business.
4. Describe and contrast the basic strategies and strategic positions that a business can adopt.

Chapter 02:

1        Explain the three basic functions performed by an accounting information system (AIS).

2        Describe the documents and procedures used in an AIS to collect and process transaction data.

3        Discuss the types of information that can be provided by an AIS.

4        Describe the basic internal control objectives of an AIS and explain how they are accomplished.

Chapter 03:

1. Explain what e-business is and how it affects organizations.
2. Discuss methods for increasing the likelihood of success and for minimizing the potential risks associated with e-business.
3. Describe the networking and communications technologies that enable e-business.

Chapter 04:

1.    Explain the difference between database and file-based legacy systems.

2.    Describe what a relational database is and how it organizes data.

3.    Explain the difference between logical and physical views of a database.

4.    Create a set of well-structured tables to properly store data in a relational database.

Chapter 06:

1.    Prepare and use data flow diagrams to understand, evaluate and design information systems.

2.    Draw flowcharts to understand, evaluate and design information systems.

3.    Explain DFD, flowcharts, document flowchart, system flowchart and program flowchart.

Chapter 07:

1. Describe the threats to an AIS and discuss why these threats are growing.
2. Explain the basic concepts of control as applied to business organizations.
3. Describe the major elements in the control environment of a business organization.
4. Describe control policies and procedures commonly used in business organizations.
5. Evaluate a system of internal accounting control, identify its deficiencies, and prescribe modifications to remedy those deficiencies.
6. Conduct a cost-benefit analysis for particular threats, exposures, risks, and controls.

Chapter 11:

1. Describe the basic business activities and related data processing operations performed in the revenue cycle.
2. Discuss the key decisions that need to be made in the revenue cycle and identify the information needed to make those decisions.
3. Document your understanding of the revenue cycle.
4. Identify major threats in the revenue cycle and evaluate the adequacy of various control procedures for dealing with those threats.

Chapter 12:

1. Describe the basic business activities and related data processing operations performed in the expenditure cycle.
2. Discuss the key decisions to be made in the expenditure cycle, and identify the information needed to make those decisions.
3. Document an understanding of the expenditure cycle activities.
4. Identify major threats in the expenditure cycle, and evaluate the adequacy of various control procedures for dealing with those threats.

Chapter 15:

1. Describe the information processing operations required to update the general ledger and to produce other reports for internal and external users.
2. Identify the major threats in general ledger and reporting activities, and evaluate the adequacy of various internal control procedures for dealing with them.
3. Discuss and design a balanced scorecard for an organization.
4. Explain the relationship between online transaction processing systems and data warehouses used to support business intelligence.

Chapter 16:

1. Explain the five phases of the systems development life cycle.
2. Discuss the people involved in systems development and the roles they play. 
3. Explain the importance of systems development planning and describe planning techniques.
4. Discuss the various types of feasibility analysis, and calculate economic feasibility.
5. Explain why systems change triggers behavioral reactions, what form this resistance to change takes, and how to avoid or minimize the resulting problems.
6. Discuss the key issues and steps in systems analysis.