AIS 510 PBL REPORT

Information system is a combination of hardware, software, infrastructure as well trained personnel who organized and facilitate planning, control, coordination and decision making within an organization. Information systems are also able to implement a vital integrated set of components for collecting, storing, and processing data. With this, it provided organizations with the necessary information, knowledge, and digital products needed. Information system bring the meaning of business applications that manage their operations, compete in the market place, manage accounts and human resources. This system have a vast variety of components that are crucial for a enterprise, business to function at his highest level, IT software is responsible that all system are reliable and up to date.

2. What ten criteria might affect your selection of resource suppliers and your plans for

Information systems (IS), technically are a set of interrelated components that collect and retrieve information, process and store it and support the organization in decision making. Information Technology (IT) is a shared technology and provides the platform for specific information. It consists of hardware and software for a business to achieve their objectives. Included is the computer systems, the computer, any hand-held devices, software the company needs to operate and storage. (20)

These days it is especially important to pay attention to details when it comes to deciding if your accounting system is providing the kind of information that may be required of you to produce. I think legal requirements and government regulations are becoming more demanding as to what they expect to see if someone such as the I.R.S. were to show up and ask for an audit. I would like to talk a little about a few of the key features, core technology, benefits, and costs of installing and maintaining an efficient accounting system and some of the benefits it would be to your company, especially in areas where details

With today new technology, information system is a set of collecting, processing, storing, and distributing information to support and control an organization. Information system makes it possible for firms to manage their information to make better decisions and speed up the accomplishment of business processes. In order to use information systems effectively, one needs to understand the fundamental organization, management, and information technology of the information systems.

 Information system: Information is available and clear to communicate responsibilities and expectations. Every system within a business that processes accounting data should capture transactions as they occur, journalize transactions in an accurate and timely manner. Also, posting those transactions in the books, and report the transactions in the form of account balances in the financial statements.

All recorded data related to accounting can be managed under the accounting information system database. The confidential information in AIS must be available and protected with authorizations only each division should have access to. Each user has a personal identification and authentic password for authorization to the system and departmental data access. Some AIS also has security resets to users so their access isn’t compromised. This eliminates risk associated with internal data abuse and unauthorized department access. AIS have virus, disaster recovery and system updates. A virus will be a disaster for AIS. Whether internal or external, a threat can destroy a system data. Information security has keep accounting systems protected from

Accounting Information Systems The Crossroads of Accounting and IT by Donna Kay, Ali Ovlia Test Bank

Financial systems are very important in generating current financial position of the company. This is through the use accounting procedures and principles which are used in the preparation of accounting records. The current status of accounts shows changes which had been made foe every disbursement (Watson and Head, 2012). The accounting systems such as automated management system ensure that the company receives instantaneous feedback. This reduces the errors which could have been reflected in the financial statements by correcting accounts which fails to balance or in case of over distribution of resources (Jones and Atwal, 2009). The availability of financial resource management systems also is important in producing accurate financial reports which reflects true states of affairs and therefore the users of the financial statements can rely on them for decision making.

1. Accounting is a system that collects and processes financial information about an organization and reports that information to decision makers.

Accounting Department: Data and information are the lifeblood of accounting. It needs good quality data to yield valuable information. Management information system helps the accounting department accomplish this task. Also, professional management information system reports are created by the accounting department for accurate analysis of the business’ performance. These reports are comprehensive and assist the middle and top management in determining the right decisions regarding the finance, accounting and overall business operations. All accounting reports are important to all stakeholders of a company. (Management Information System Reports)

However, the constant growing and changing field of IT has had an important impact on all levels of the firm’s organization. In this context, the term "information management" has emerged as the most common name. As rue result, management information systems were developed to support the new role of accountant. This new role forced accountants to become the interpreter of information and to deal with the information overload. Now, the accounting department is now responsible to

There exists a perpetual need for businesses to have a reliable and accurate accounting system irrespective of the nature of business whether it is manufacturing concern or an organization belonging to a service industry. An accounting information system is not optional but mandatory. To understand why an AIS (accounting information system) is so vital for an organization, it is necessary to first have a comprehension of what actually an accounting information system is.

In today’s global economy, organizations are faced with a variety of changes in the business environment. The selection of competent suppliers has long been regarded as one of the most important functions to be performed by a purchasing department.

This is the first type of accounting system. It utilizes paper-based journals and ledgers. Nowadays, Computer-based transaction systems replaced some paper records into computer records. Manual system is labor intensive for this system relies on human processing. Because manual system relies on human processing, they may be prone to error. Organizations employ multiple forms of information technology in their accounting information system. Because of the advancements in information technology computer-based transaction system were created. In this system, accounting data are kept separately from other operating data. At this point, there is a greater degree of compartmentalization of work in order to preserve the integrity of accounting information