(Doc) Accounting Information System Assignment
Added on 2021-02-19
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Accounting Information System
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Critically discussing the cloud accounting information system and their strategic use..............1CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................6
INTRODUCTIONAccounting information system refers to the collection, processing and the storage of theaccounting and the financial data that are been used by the internal users in order to report theinformation to the creditors, tax authorities and the investors. It referred as the computer basedmethod that is been utilized for the purpose of tracking the accounting activity along with theconjunction of information technology tools (Libby, 2017). The present study is based onvarious aspect of AIS which includes its role and use by the organization for achieving theenabled innovation. Critically discussing the cloud accounting information system and their strategic useAn AIS is the system that takes into account all the figures and the data from the financialrecords of an organization and arranges that data into the orderly structure. This system servesthree major functions that includes processing and collection, to facilitate the information to theusers and to look that the accounting personnel keep the record of the information accuratelywith protection of the data. In collection phase of AIS, bookkeepers records and gathers the datafrom the cash sales, purchases, payables, receivables and payroll. In the computerized system,software program makes the processing of all the credits and the debits into the completeinformation management database (Prasad and Green, 2015). Personnel distributes the report tothe stakeholders within an enterprise like sales, production, marketing and financial managerswith all the departmental heads. Management make use of the Information that is been generatedfrom AIS in order to assess the financial condition and current operations of an entity. It alsohelps in setting goals and making effective plans for the probable future. For instance- balancesheet prepared from system could helps the internal ad the external users in knowing thefinancial position at a specific time period (The Basic Functions of an Accounting InformationSystem, 2019). By limiting no. of people who are been having the access to system helps theorganization in attaining the third major function of AIS which in turn ensures that an entitymaintains the data securely and correctly. For example- the accountants, trained clerks needsaccess for verifying and recording the data within the system and for generating reports(Handoko, Sabrina and Hendra, 2017). Other associates of the firm, internally as well asexternally, generally doesn't have any requirement for manipulating data. Cloud based accounting refers to the cloud computing application that has been used bythe companies with a particular purpose of delivering and processing the financial information,1
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