The accounting information system is the system which provides quantitative information about the effects of transactions and other events on accounting entity.
An accounting information system is generally a computer-based method for tracking accounting activities in conjunction with information technology resources. It combines the application of generally accepted accounting principles with the use of information technology resources.
A joint venture arises when two or more parties set up a separate entity to be operated under joint control. Neither venturer controls individual assets or liabilities. Rather, they are jointly in control of the entire venture. There must be a separate legal entity. The entity will prepare its own separate financial statements and will be dealt with within the books of each venturer using equity accounting as for associate companies
The double-entry system of bookkeeping refers to a system of accounting under which both of the aspects (i.e. debit and credit) of every transaction are recorded in the accounts involved. For each transaction, this means that a bookkeeping entry will have to be made to show an increase or decrease of the other item