AIS In Prosessing
Coca-Cola’s accounting information systems
In accordance with Wiley (n.d), Coca-Cola’s management accounting information system is controlled by its accounting managers. Management accounting is related to accounting information adopted by companies for internal decisions made on how the business should be operated in terms of expenses incurred and sales generated from such expenses. Wiley (n.d) presented some evidence to who how Coca-Cola makes use of cash book ledger for its management accounting information, and the company’s cash book ledger is divided into two sections. One section is used for cash disbursement journal record of all the payments made (such as accounts payable and operation expenditures). The second section contains the cash journal, which houses all cash record and receipts (such as cash sales and accounts receivable). Additionally, the company keeps record of all these journal on daily bases with respect to any given transaction performed and the company’s management accounting information system is illustrated in below appendix.
In most organizations, the accounting function is the single largest user of IT. All systems that process financial transactions impact the accounting function in some way. As end users, accountants must provide a clear picture of their needs to the professionals who design their systems. For example, the accountant must specify accounting rules and techniques to be used, internal control requirements, and special algorithms such as depreciation models. The accountant’s participation in systems development should be active rather than passive. The principal cause of design errors that result in system failure is the absence of user involvement.
Management Aspect: (Journal) In this part described about a company’s regular transactions. According to the all the most common financial transactions are economic exchanges with external parties. These include the sale of goods or services, the purchase of inventory, the
In accordance with Wiley (n.d), Coca-Cola’s management accounting information system is controlled by its accounting managers. Management accounting is related to accounting information adopted by companies for internal decisions made on how the business should be operated in terms of expenses incurred and sales generated from such expenses. Wiley (n.d) presented some evidence to who how Coca-Cola makes use of cash book ledger for its management accounting information, and the company’s cash book ledger is divided into two sections. One section is used for cash disbursement journal record of all the payments made (such as accounts payable and operation expenditures). The second section contains the cash journal, which houses all cash record and receipts (such as cash sales and accounts receivable). Additionally, the company keeps record of all these journal on daily bases with respect to any given transaction performed and the company’s management accounting information system is illustrated in below appendix.
In most organizations, the accounting function is the single largest user of IT. All systems that process financial transactions impact the accounting function in some way. As end users, accountants must provide a clear picture of their needs to the professionals who design their systems. For example, the accountant must specify accounting rules and techniques to be used, internal control requirements, and special algorithms such as depreciation models. The accountant’s participation in systems development should be active rather than passive. The principal cause of design errors that result in system failure is the absence of user involvement.
Management Aspect: (Journal) In this part described about a company’s regular transactions. According to the all the most common financial transactions are economic exchanges with external parties. These include the sale of goods or services, the purchase of inventory, the