This paper talks that every business, big or small, must maintain proper records of their daily transactions. Keeping record of every transaction is very important to businesses because the business runs on the capital of the owners’ and all other entities are accountable to their stakeholders. …
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This paper stresses that using Accounting Information System (AIS) is not risk-free. Any data that can be communicated across the internet or through satellite can be viewed and interrupted by a third party without main party’s prior consent. Such unwanted intrusion is also known as hacking into unauthorised systems. Every organization that has globalized over the years must ensure the safety of data of their customers when they operate. With thousands of new software built across the globe every day, the loop holes of the system penetration is getting more visible. Sometimes, it so happens that some hackers work so swiftly that even the organization to which they target to hack, cannot find out that they are being hacked until it’s too late to recover actual losses.
This essay makes a conclusion that this unsecured public network connection becomes vulnerable to such attacks frequently so the organizations decided to work under secured private networks with B-2-B and B-2-C network architecture. These are basically electronic commerce concepts that incorporate AIS and enable the organization to communicate in secured zones where third party cannot intrude as the network is privatised. In short we may say that with little responsibility on organizations’ behalf, if the AIS are implemented in secured private networks, its benefits outweigh risks for the customers as well as the organizations.
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Every organization tends to update its AIS in order to effectively meet the changing business needs. This paper will critically analyze all the three AIS options suggested in the given case scenario and recommend the most potential one for the company. An Overview of the Change Context The modern business environment is continuously changing and the same trend is visible in the interests of customers and investors.
Although originally devised only for recording the financial information, accounting has become a powerful data source to support operation management of modern businesses. Accounting systems are used in a modern business environment not only as a standartisation tool for the financial data, but more importantly, as an information source for decision-making processes.
Accounting information systems are a vital part of an organization’s day-to-day operations. Every transaction has to be recorded in order to produce financial statements or any type of informal report that management may want to use for analysis. For this reason, accountants were some of the first people to need information systems.
of information maintained by the company to formulate opinion on various accounting assertions and communicate the results to the users of financial information, needs to be carried out with an objective of determining the possibility of occurrence of the errors and
Surviving and succeeding had been a great challenge for companies on how to effectively and efficiently respond to these changes. Advancement of information technology towards industry transformation is the good response
The paper, Information Need For Accounting Information System AIS, will also suggest three to four ways in which organizational performance may be improved when information is properly managed within a business system and evaluate the level of system security needed to ensure information integrity within automated business systems.
The author states that there are various ways in which both the functions and components of the Koss Corporation Accounting information system failed, allowing for the fraud and embezzlement of the company’s funds. Koss Corporation is a headphone and other electronic manufacturing company that was established in 1953.
Accounting is a critical factor in the success of any business organisation whether large or small. It is instrumental for the management to make critical decisions revolving around production, sales and marketing, human resource planning, management of supplies and
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