Why An Ais ( Accounting Information System Is Not Optional...

Financial accounting is the procedure that encompasses the planning of financial reports on the organization for utilization by both inside and outside parties. Clients of these related reports incorporate investors, speculators, lenders, administrators, managers, unions, as well as external government agencies. Conversely, managerial accounting is the procedure of recognizing, measuring, investigating, and imparting financial information required by administration and management to plan, arrange, control, and assess an organization s operations in terms of its financial health and operational performance. 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. Bookkeeping data frameworks (AISs) stand at the intersection of two orders: bookkeeping and data frameworks. Subsequently, the investigation of AISs is regularly seen as the investigation of modernized bookkeeping frameworks. But since we can t characterize an AIS by its size, it is ideal to characterize it by what it does. In essence, accounting information system first collects and then and processesShow MoreRelatedAccounting Information System Chapter 1137115 Words   |  549 PagesCHAPTER 1 ACCOUNTING INFORMATION SYSTEMS: AN OVERVIEW SUGGESTED ANSWERS TO DISCUSSION QUESTIONS 1.1 The value of information is the difference between the benefits realized from using that information and the costs of producing it. 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No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission