answersLogoWhite

0


Best Answer

Accounting is an information system for measuring, processing and communicating information that is useful in making economic decision.

Every business is conducted to make profit. Accounting knowledge is there to assist the business man to assess whether the business is making profit or loss. In accounting brings discipline on how to source money, how to spend and how much to save. Accounting ensures consistency in the treatment of various transactions. Accounting involves gathering of financial data, recording classifying, summarizing and communicate the results to the owners of the business, or to others allowed to receive this information.

Accounting should not be confused with Book keeping as Book keeping is the part of accounting concerned with recording of financial data. Book keeping is the process of recording data relating to accounting transactions in the books of accounts.

User Avatar

Wiki User

14y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: How you can explain accounting is an information system?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

List three groups that use accounting information and briefly explain why each has an interest in this information?

how to explain an accounting system used for our company to auditor


Explain management information system taking university as an example?

financial accounting system


Where you can download article for Accounting Information System?

accounting information system?


What are the differences between accounting system and accounting information system?

accounting is a interesting field and it is a business transaction and preparation financial statements and accounting information system it is a system of information provides.because of information provides the management can control a business. writer, sakibrubel


What is on-line accounting system?

cloud based accounting information system


List various process of Accounting information system?

list of various process of accounting information system


What is the flow of data in a computerized accounting information system?

what is the flow of data in a computerized accounting information system


The flow of data in a computerized accounting information system is?

what is the flow of data in a computerized accounting information system


What is thew Difference between management information system and accounting information system?

The major difference between management information system and accounting information system is the method of accounting. The latter is performed by software, while the former is the system of how the records are kept.


Who are the user of accounting information system?

Following are the users of accounting information systemmanagementemployees etc.


What is accounting one?

cloud based accounting information system


Briefly describe concept of accounting information system?

Generally accounting information systems are a computer-based system of tracking financial activity in a company, and presenting that transactions in a organized financial statement. Currently, accounting software can be purchased off the shelf, which is much cheaper than when it had to developed by the company.