Report On Accounting Information System | HA2042 | Holmes Institute
Added on 2020-02-18
19 Pages4516 Words47 Views
Running head: ACCOUNTING INFORMATION SYSTEMAccounting information systemName of the studentStudent IDName of the universityAuthor note
1ACCOUNTING INFORMATION SYSTEM Table of ContentsExecutive summary....................................................................................................................2Introduction................................................................................................................................3Question 1..................................................................................................................................4Question 2..................................................................................................................................5Question 3..................................................................................................................................7Question 4..................................................................................................................................9Answer 5..................................................................................................................................11Conclusion................................................................................................................................15Reference..................................................................................................................................16
2ACCOUNTING INFORMATION SYSTEM Executive summaryThe main objective of this report is to state the importance of automated accounting softwarein comparison with the manual system. This report will conduct a study regarding installationof ERP software or the AIS. Various advantages of the AIS will be discussed under thisreport. The report will take into consideration the advantages that can be achieved by B.Baker through implementing the automated software for accounting like MYOB as per thebusiness process and requirements of the entity. The report will also focus on the positiveaspects of MYOB.
3ACCOUNTING INFORMATION SYSTEM IntroductionAccounting information system (AIS) is the structure that is used by the business forcollecting managing, storing, reporting or retrieving the financial data, so that it can beutilised by the business analysts, consultants, accountants, auditors, chief financial officers,tax agencies, regulatory authorities. Various components of accounting information systemare procedure and instructions, people, data, information technology infrastructure, internalcontrols and software (Belfo and Trigo 2013). People in the AIS are generally the users of thesystem. The professionals who are required to use the AIS are the consultants, accountants,business analysts, managers, auditors and chief financial officers. Instruction andprocedures includes the methods that are used for storing, collecting, processing andretrieving the data. These methods can be automated as well as manual and the data comefrom both external as well as internal sources. Various data that are included in AIS is thefinancial information regarding the business. For instance, the billing statements of thecustomers, sales order, general ledger, vendor invoice and inventory data. Software of theAIS is the programs of computer that is used to retrieving, analysing, processing and storingthe financial data of the company. Information technology infrastructure is the hardwareused for operating AIS. This hardware includes surge protectors, storage media, routers,back-up for power supply, computers, printers and servers. The internal controls with regard to AIS are the security strategies that it contains forprotecting the sensitive data. These securities can be complex as the biometric identificationor password protected. The AIS shall have control for protecting against the unauthorisedaccess to computers and limiting the access to the unauthorised users and the users who areallowed to access a limited part only. Further, the AIS include confidential information thatincludes not only the information of the company but also the information of the customers
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