Accounting Controllership: Financial System Analysis and Report

This report delves into the implementation of a financial information system, emphasizing the critical steps involved in the process. It outlines the importance of planning, software installation, and system training. The report stresses the need for consultation with both internal and external stakeholders, including information analysts and company employees, to gather necessary data and define system requirements. It highlights the significance of analyzing existing systems, designing new information systems, and documenting procedures. Furthermore, the report underscores the importance of ongoing monitoring to ensure the effective execution of the accounting information system. The references cited include key texts on management information systems and digital strategy.

Running head: ACCOUNTING CONTROLLERSHIP
Accounting Controllership
University Name
Student Name
Authors’ Note

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ACCOUNTING CONTROLLERSHIP
Implementation of the financial information system
Development of top of the line financial information system can enhance the speed as well as
efficiency of the process of recording business transactions, preparation of ledger, trail
balance and analysis of financial assertions.
Way to begin the process: However, the process starts with the purchase of a specific shared
in software, planning of implementation, software installation, configuration of the
accounting system and system training.
Need for consultation: In order to develop an effectual financial information system it is
important to talk to both internal as well as external users. It is important to talk to an
information analyst to recognize different sources of requisite information for collection of
data, preparation of reports and preservation of reports (Peppard & Ward, 2016).
There is need to talk to the employees of the company for asking them questions and
discussing about charts of accounts, defining account numbers of customers, information on
inventory and vendor numbers. In addition to this, there is need to talk about planning the
entire process of integration to undertaken, selecting the employees and deciding on specific
information that need to be migrated (Laudon & Laudon, 2016).
Steps for defining the system requirements: The steps for defining the requirements of the
system involve
- Analysis of the necessary information, sources of information along with evaluation
of the strength and weakness of the current system (Peppard & Ward, 2016).
- Design and development of the new information system that involves designing of
diverse forms as well as documents, methods of sorting and processes of working,

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ACCOUNTING CONTROLLERSHIP
preparation of statements of activities, acquiring control techniques, preparing
specific reports and selecting necessary equipments
- Implementation of a new system of accounting require obligatory documentary
evidences, procedures of various methods, installation of different equipments and
activation of the entire process
- Follow up is also necessary for properly monitoring the system of execution of the
accounting information system and making the same workable (Peppard & Ward,
2016).

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ACCOUNTING CONTROLLERSHIP
References
Laudon, K. C., & Laudon, J. P. (2016). Management information system. Pearson Education
India.
Peppard, J., & Ward, J. (2016). The strategic management of information systems: Building a
digital strategy. John Wiley & Sons.