What is a New Accounting System (AIS) needed?

Q: What is concern of external users of accounting information in GAAP?

A: Accounting information includes all financial statements like Balance Sheet, Income statements and…

Q: What is the importance of Accounting Information System in the modern practice of Accounting?

A: Accounting Information System refers to the system where financial and accounting data is collected,…

Q: What are some of the accounting information costs? What are some advantages of accounting data?…

A: The answer:

Q: Why accounting information is important?

A: The accounting is a process to identify the business transactions, record the transactions, and…

Q: how does accounting work?

A: Accounting is the method of recording all the financial transactions of the business. This process…

Q: How has technology change accounting

A: In the last few years, there has been a great technology revolution that has touched various…

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

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

Q: Is there a need to change Accounting standards with Evolving technology

A: The answer is provided as follows:

Q: What are the popular accounting applications?

A:

Q: What is the purpose of an accounting system?

A: Accounting is an art of systematic recording, classifying and summarising financial 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: What function does the Accounting Information System perform today

A: The functions of Accounting Information System is enumerated as below:    Reporting to Management:…

Q: What is the important of Accounting

A: Accounting is the process of systematically recording, measuring, analyzing and communicating…

Q: If you are to create your own accounting software, what and how would it be?

A: Answer: If I can create my own accounting software, that would be named as Track books Track books…

Q: Exactly why do you need an accounting system?

A: An accounting system is a bundle of processes with integrated procedures and controls. The…

Q: Why is accounting a system of information? Extend your explanation with an example from your own…

A: Introduction : Accounting a system of information : Accounting Information Systems aids in the…

Q: Why is accounting referred to be an information system? Explain with an example from your own point…

A: Information system is a system which is designed to collect, store and process information for the…

Q: Technology is increasingly used to process accounting data. Why then must we study and understand…

A: There are various types of tools that has been developed to collect, analyze, and compile financial…

Q: What are the accounting concept?

A: Solution:- Introduction:- Accounting concepts are defined as basic assumptions on the basis of which…

Q: Reccomendation

A: Ans. The major environmental factors that effects accounting system are : i. The economic…

Q: How IT can affect accounting field?

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

Q: What is an accounting system for?

A: Accounting system basically refers to the way of maintaining the books of accounts. It is an…

Q: Accounting data is progressively being processed using technology. So, why do we need to learn and…

A: Introduction: Accounting is the process of documenting, measuring, and reporting to interested…

Q: What is the desired benefit from revising an accounting standard?

A: Financial Accounting Standards Board:   It is commonly known as FASB. It is a private, non-profit…

Q: are we also a user of finanacial accounting?

A: Financial Accounting is the process of recording, classifying, summarising all the Financial…

Q: Illustrate the importance of the flow of information in accounting?

A: The importance of flow of information in accounting is of very high significance. The information…

Q: Why accounting is an infromation system? Explain with your own point of view with example.

A: Accounting Information Systems helps to perform the tasks in the job of Budget Analysis. An…

Q: hat are the benefits of Accounting System Analysis?

A: Accounting system analysis is very important for business and organization to grow and survive.

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: why accounting important to people?

A: Accounting: Accounting is recording , classifying, summarising , analysing and interpreting of…

Q: n conceptual framework resolve accounting problems? How?

A: Introduction: Conceptual framework is a guide for preparing financial statements by identifying the…