The Company Information Screen

• The Company Information screen allows changes to the accounting system options used by the assignment company.
• In general, you should not make any changes to this screen unless requested by assignment instructions, as the menu options and account formats may change considerably.

• Company name - This will be displayed on all reports.
• Problem name - This correlates this company setup to a particular text or online assignment.
• Departments - The program will accommodate up to three separate departments if departmentalized accounting is being used. 
• Business Organization - Changing this option will change the required accounts in the Owner's Equity/Capital section of chart of accounts.
• Type of Business - This option controls whether the business uses inventory accounts. If Merchanding Business is selected, Cost of Goods Sold is determined by the periodic method, based on beginning inventory, purchases, and ending inventory. If Merchanding Business with CGS Account is selected, Cost of Goods Sold is determined through perpetual inventory system transactions.
• Income Statement - If this option is set to Month and Year, the Income Statement will include a column for current month and another column for current year. If set to Fiscal Period, only the amount column and percent of total operating revenue is included. in the Income Statement presentation.
• Features - This option determines which subsystems will be display or hidden from view. The No Special Journals option switches to a simplified journal presentation for cash receipts and cash payments.
• Computer Checks - This option determines whether you want a simulated check for cash payments or payroll transactions to be displayed.
• Inventory Costing - This option only appears if Inventory is selected, and controls whether Cost of Goods Sold will be determined through FIFO, LIFO, or Average Cost methods.
• Voluntary Deductions and Payroll Year End Date - This option only appears if Payroll is selected, and enables miscellaneous deductions and fiscal year setting in that subsystem.
• Select Save to confirm any changes, or Close to save without making any changes.