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Accounting Information Systems: An Overview

Accounting Information Systems: An Overview. Understand the related concepts of transaction cycles and internal control structure. Learning Objective. Overview. An accounting information system (AIS) is a collection of resources designed to transform data into information.

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Accounting Information Systems: An Overview

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  1. Accounting InformationSystems: An Overview

  2. Understand the related concepts of transaction cycles and internal control structure. Learning Objective

  3. Overview An accounting information system (AIS) is a collection of resources designed to transform data into information. Accounting information systems perform this transformation. Manual Computerized

  4. Information and Decisions Who are the two main users of accounting information? External users Internal users

  5. Information and Decisions Who are the external users of accounting information? Stockholders Investors Creditors Government agencies Customers and vendors

  6. Information and Decisions Hierarchy of Internal Users Top-Level Management Strategic Middle Management Summarization and Filtration Tactical Lower-Level Management Operational Transaction oriented

  7. Data Information Information Systems The term information system suggests the use of computer technology in an organization. Hardware Software

  8. Information Systems Electronic Data Processing System (EDP) Data Processing System (DP) Management Information System (MIS) Decision Support System (DSS) Expert System (ES) Executive Information System (EIS) Accounting Information System (AIS)

  9. Data Organizational units Logical time sequence Business Processes Tasks:

  10. Business Processes Primary Business Processes Inbound sales logistics Outbound sales logistics Operations Marketing Service

  11. Business Processes Supporting Business Processes Procurement Technology development Human resources Firm infrastructure

  12. Transaction Processing Cycles 1. Revenue cycle 2. Expenditure cycle 3. Production cycle 4. Finance cycle

  13. Internal Control Process Reliability of financial reporting Effectiveness and efficiency Compliance

  14. Internal Control Process What are the elements of internal control? Control environment Risk assessment Control activities Information and communication Monitoring

  15. Internal Control Process Segregation of Duties: No individual or department should control the accounting records relating to its own operation. Internal Auditing: It is an independent appraisal activity within the organization.

  16. QUESTIONS ???

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