Introduction to Accounting Information Systems | Assignment

Running head: ASSESSMENT OF ACCOUNTING INFORMATION SYSTEMS
Assessment of Accounting Information Systems
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ASSESSMENT OF ACCOUNTING INFORMATION SYSTEMS1
Table of Contents
1. Project..........................................................................................................................................2
1. Introduction..................................................................................................................................2
2. Discussion....................................................................................................................................2
2.1 Procedures for Operation of a Computerized Accounting System........................................2
2.2 Discussion on Research Topics.............................................................................................5
a. Key Features and Characteristics of Information based on Financial Data.........................5
b. Key Features of Desktop and Cloud-based computerized accounting systems..................6
c. Key Features of Organisational Policies and Procedures....................................................8
d. Key Requirements of Financial Services Industry Legislation...........................................9
3. Conclusion...................................................................................................................................9
2. Short Answer Questions............................................................................................................11
References......................................................................................................................................16
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ASSESSMENT OF ACCOUNTING INFORMATION SYSTEMS2
1. Project
1. Introduction
The computerized accounting systems are termed as software programs, which would be
stored on the computer, server or which could be accessed directly through the Internet. The use
of these systems would help the users for setting up of expense and income accounts, which
includes advertising expenses, sales or rental incomes and various material costs (Amahalu,
Abiahu and Chinyere 2017). Thus, depending on the program, some kind of accounting systems
helps in preparing for handling of payroll, management of project costing and preparing of tax
documents.
This document helps in detailing out the procedures based on setting up and operating for
a computerized accounting system. In the later sections of the report, certain topics of research
would be discussed based on the understanding the key features of the research based on the
detailing of computerized accounting systems. The primary features of organizational procedures
and policies are also being discussed based on the operation features of a computerized
accounting system.
2. Discussion
2.1 Procedures for Operation of a Computerized Accounting System
In line with the organizational requirements, policies and procedures based on setting up
and operating for a computerized accounting system, some of the basic procedures are discussed
as follows:
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ASSESSMENT OF ACCOUNTING INFORMATION SYSTEMS3
a. Setting up the system for an integrated accounting system – In the initial phase, the
accounting managers and computer operators should perform some processes based on deciding
over the most appropriate kind of accounting systems (Liu et al. 2015). These could include sales
commissions’ calculations or performing job costing automatically.
b. Setting up of suppliers, inventory items and customers – In order to present an
integrated setting up of customers, inventory items and suppliers within the system, there should
be a proper procedure to be included within the accounting system (Wu et al. 2016). Hence, a
proper choice of suppliers who would be able to supply the software packages, hardware systems
and networking aspects.
c. Processing of accounting transactions within the internal system – After the
installation of the computerized accounting system within the organizational requirements, it
should be ensured that this system should be linked to a central database, which helps in
organizing of data and providing access to stored data. The back-end database runs in the
background and the user is not aware of the functioning (Turner and Weickgenannt 2020).
However, this system responds to the exact requirements provided by the user and up to the
extent to which the user is provided access.
d. Ensuring data integration – The accounting system software that would be installed
within the organization should be able to provide integrity of data within the system. It would
also provide identification of users and availability if data.
e. Producing, generation and printing reports – The accounting system would have the
facility of generating different financial analysis reports (Birt et al. 2020). The reports that could
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