Illustrate the importance of the flow of information in accounting?

Q: Discuss the history of Accounting?

A: Italy, birthplace of many of the world's most important historical figures like Michelangelo,…

Q: describe accounting as an information system

A: Accounting as an Information System An Accounting as an information system is the system of storing,…

Q: The reporting of accounting theory is related to what?

A: Accounting theory is all related to the preparation of financial statements of the business.…

Q: How important are accounting information systems in contemporary accounting practice?

A: Introduction: Accounting: A company's financial activities are tracked through accounting, which is…

Q: What is the primary purpose of an accounting system?

A: the primary objective of accounting is to record the financial transactions in the books of…

Q: what is the basic accounting model?

A: Accounting Model is the collection of principles, rules and guidelines that form framework for…

Q: Where does accounting information technology fit into current accounting practice?

A: Introduction: Accounting Information Technology: Accounting Information Technology is a system that…

Q: Describe the goals of accounting standards.

A: Accounting standards are authoritative standards for financial reporting and are the primary source…

Q: examples of decisions that can be supported by accounting information

A: Accounting information represents the financial information about the company which is useful for…

Q: describe the fl ow of information in an accounting system

A:

Q: Explain an example of accounting process cycle.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: What are the objective of any accounting system?

A: The accounting information system is software in which inputs are added in the form of sales or…

Q: explain the purpose and importance of accounting

A: 1. The purpose of Accounting :    The purpose of accounting is to gather and report on financial…

Q: What role does accounting information systems play in contemporary accounting practice?

A: An accounting information system (AIS) constitutes of gathering, storage, and processing of…

Q: how you will use accounting information both as an internal and an external user?

A: The accounting is a process to classify and record the business transactions and prepare the…

Q: Explain accounting principles.

A: Accounting principles: The conventions or rules those are required to prepare and report the…

Q: What are the ideas and language used in accounting?

A: Introduction: Accounting is the practice of knowing track of a company's financial activities.…

Q: = does an Accounting Information System play in

A: Accounting Information System (AIS):  It is a system that is designed to collect store and process…

Q: Who are the users of accounting information?

A: Users of accounting information means the stakeholders that will use the accounting information for…

Q: What is accounting information system and what is its components and explain.

A: All the transactions in the company will be recorded in the journal book in a chronological manner.…

Q: Accounting independence in accounting information system is important. Discuss using examples.

A: Accounting Information System:  A system which collects, stores and gathers information about…

Q: What does an effective accounting information system provide?

A: Accounting Information Systems:

Q: Describe simply what accounting is.

A: Introduction: Accounting: Accounting is an art of recording , classifying , summarizing and…

Q: Explain the Accounting Equation?

A: The accounting equation is the foundation of the balance sheet as well as the fundamental premise of…

Q: List and explain various functions of accounting.

A: Accounting is the process of recording financial transactions pertaining to a business. The…

Q: How IT can affect accounting field?

A: Accounting is the recording, classifying, analyzing and interpreting of financial transactions…

Q: What are the roles of transaction in accounting?

A: The transactions are the business events that can be measured in monetary form.

Q: Explain the methods of accounting.

A: Accounting methods refers to the ways which are adopted by the company in order to record its income…

Q: How is the use of accounting information diverse and varied?

A: Definition: Accounting Information: Accounting Information refers to the data which makes a decision…

Q: Briefly describe the two fundamental qualities of useful accounting information.

A: Accounting information is data about a business entity’s transactions. From buying inventory and…

Q: Briefly explain the importance of independence of the accounting function in Accounting Information…

A: Accounting Information System: The system which helps to gather, store and process the accounting…

Q: Explain the application of the basic principles of accounting.

A: Income tax expense:   The expenses which are related to the taxable income of the individuals and…

Q: Accounting deals with quantifiable information.

A: Accounting means recording the financial transactions and converting them into reports to the…

Q: Describe the major constraint inherent in the presentation of accounting information.

A: Accounting information:   Accounting information refers to that information which is concluded from…

Q: Make logical comparison between financial accounting with other fields of accounting ?

A: Accounting It is a process under which financial transactions are recorded ,stored, retrieving ,…

Q: The collection and observation of accounting data was related to what?

A: generally, accounting starts with the collection of data. observation of data is done while making…

Q: Examples of Accounting Information System

A: Accounting Information Systems help in the completion of duties related to budget analysis. An…

Q: When it comes to modern accounting, how important is the Accounting Information System to the…

A: It is a process of collecting data, processing that and making available to the users of accounting…

Q: So, what exactly is the purpose of an accounting system?

A: solution accounting system                 Accounting system in general refers to the system which…

Q: What is the function of the Accounting Information System in current accounting?

A: Accounting Information Systems are the systems that help the organizations to record their…

Q: What are the areas of accounting that are impacted by information technology? Explain

A: Computerized accounting includes using the computers and accounting software for recording, storing…