Information Technology for Accountants
Introduction:
An Accounting information system collects, store and process the data into information which is being used by the managers, investors and creditors. These systems includes software which makes things easy to process the financial data for bookkeeping, Payroll and tax purposes. Accounting information systems are based on 6 components. * An Application to process the financial data. * Policies and procedures to secure the financial data. * Users who will use this system. * The physical devices and systems for operations and performance of AIS. * Instruction and methods that will be involved in collectioning, storing and processing financial data.
In this report we are discussing the importance and the factors which can influence the success and failure of accounting information system.
Task 1: Discuss the importance of Accounting Information Systems (AIS).
Accounting information systems are very important to make accounting processes easier and quick. Financial processing can be done very quickly and accurately with the help of computerized programs and others systems, which can process the financial data. Companies and businesses use accounting information systems to process their financial data and provide them accurate and timely financial information. Accounting information systems boost up the flow of information in every department within the organization. These systems requires information to be inserted manually into the system for different part of this process system. AIS also determines the flow of processing financial data in every department.
Accounting information system generates reports by its automate report generation tools. Reports are very important source of information when the management want to see accurate and timely information for future decision making. These systems gets the data from centralized database, process it and convert it to information and generate reports which is used by the managers,
An Accounting information system collects, store and process the data into information which is being used by the managers, investors and creditors. These systems includes software which makes things easy to process the financial data for bookkeeping, Payroll and tax purposes. Accounting information systems are based on 6 components. * An Application to process the financial data. * Policies and procedures to secure the financial data. * Users who will use this system. * The physical devices and systems for operations and performance of AIS. * Instruction and methods that will be involved in collectioning, storing and processing financial data.
In this report we are discussing the importance and the factors which can influence the success and failure of accounting information system.
Task 1: Discuss the importance of Accounting Information Systems (AIS).
Accounting information systems are very important to make accounting processes easier and quick. Financial processing can be done very quickly and accurately with the help of computerized programs and others systems, which can process the financial data. Companies and businesses use accounting information systems to process their financial data and provide them accurate and timely financial information. Accounting information systems boost up the flow of information in every department within the organization. These systems requires information to be inserted manually into the system for different part of this process system. AIS also determines the flow of processing financial data in every department.
Accounting information system generates reports by its automate report generation tools. Reports are very important source of information when the management want to see accurate and timely information for future decision making. These systems gets the data from centralized database, process it and convert it to information and generate reports which is used by the managers,
Bibliography: 7 M Goodland and C Slater, SSADM VERSION 4:A Practical Approach, McGraw-Hill, 1995. [ 7 ]. M Goodland and C Slater, SSADM VERSION 4:A Practical Approach, McGraw-Hill, 1995.