Accounting information system - Essay Example

The purpose of this report is to describe the important of a budgeting function and the way it can easily implanted into a business information system.... The amount of material purchases, labor requirements, machinery upgrades, information system maintenance among other factors are determined based on an annual budget of a corporation.... Accounting is a discipline that allows business owners to determine the economic profits a business earn the owners or shareholders of a business and to keep track of the cash balance, bill payments, account receivables, cost of items, and sales among other important variable… The accounting field extends to other areas of specialized work other than financial accounting which includes managerial accounting, auditing, accounting information systems, taxes and A budget is a report statement of management's plans for a specific time period expressed in financial terms (Weygant & Kieso & Kimmel, 2002, p....

Running Head: AIS Accounting information system Accounting information system Comparison of Treasurer and ControllerThe treasurer handles the acquisition and custody of funds.... These processes are integrals of transaction processing system (TPS) which could be operated manually or through computerized system.... The Blackwell Encyclopedic Dictionary of Management information Systems.... The controller's functions include accounting, reporting and control....

The understanding of the revenue cycle process helps workforce and executives develop financial practices and allow them to make well-versed financial… There is a essential need of the proper integration of the revenue cycle form any division or part of business to the overall accounting cycle of the organization. Integrating knowledge of the revenue cycle processes with the Accounting information system Running head: Accounting cycle Accounting cycle Accounting cycle Section “C” The accounting cycle isone of the most important parts of all financial activities it is also the base of the revenue cycle....

The implementation part could further be subdivided Running Head: SYSTEM IMPLEMENTATION System Implementation System Implementation Once the new Accounting information system is developed the next phase is the system implementation phase.... In addition to these activities preparation also involves selection and testing of hardware, software and vendors for efficient implementation of the Accounting information system.... These include 1) unit testing which ensures the correctness of individual modifications 2) program testing which checks the compatibility between individual modifications and the program they enhance 3) system testing establishes whether the program modifications tally with the overall objectivity of the AIS and finally 4) acceptance testing that ensures the overall user expectations are met and the desired results from the accounting information systems are achieved (Nah, Fui-Hoon, Lee-Shang, & Kuang, 2001)....

FYC needs to adopt various new approaches to ISD like MIS (management information system), payroll, AIS (Accounting information system), Networking through website development.... It is observed that an effective computer based information system would greatly improve and improvise the delays in the various operations of the firm and help give it a competitive advantage.... Hence, organizations need to develop a comprehensive information system that would promote and accelerate the organizational aims and objectives....

ased on the reading, how would you begin the process of implementing a new Accounting information system?... In implementing a new Accounting information system, I would begin by researching on various accounting management systems and the benefits of each of the systems.... This would enable me to have the capability of implementing the new Accounting information system identified in the most appropriate manner.... After researching, I would select the most beneficial accounting management system and then communicate to employees about the benefits that the organization would obtain from the new system....

Effective and efficient tracking of internal events can be achieved by having good Accounting information system in place.... Business decisions are always based on accounting information.... Furthermore, the writer highlights the necessity of the accounting system implication as a vital part of business activities management.... he need for accountingEfficient accounting system is essential for a starting business since it assists in keeping records of all revenues and expenses transactions occurring on a daily basis....

hellip; 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.... An Accounting information system (AIS) within an organization is meant to help the organization's accounting function, through the collection, processing, storage and the dissemination of the accounting information to the organizations stakeholders or other externally authorized and interested parties such as the auditors (Hall, 2013)....