The system of collecting and processing transaction data and disseminating financial information to interested parties is known as the accounting information system. It includes each of the steps in the accounting cycle that you have studied in earlier chapters, the documents that provide evidence of the transactions and events, and the records, trial balances, work sheets, and financial statements that result. An accounting information system may be either manual or electronic.
To have an efficient and effective accounting information system (hereafter referred to simply as the accounting system), certain basic principles must be followed. These principles are:
1. Cost awareness. The system must be cost effective: the benefits obtained from the information disseminated must outweigh the cost of providing it. For example, the value of each accounting report should be at least equal to the cost of producing it.
2. Useful output. To be useful, information must be understandable, relevant,
reliable, timely, and accurate. Designers of accounting systems must consider
the needs and knowledge of various users so that the system's output (reports
and statements) will be useful to them. For example, sales managers
may need weekly reports of sales, and factory supervisors may need daily reports of production. Others with differing responsibilities (such as vice-presidents) may need such reports only monthly or quarterly.
3. Flexibility. The accounting system should be able to accommodate a variety
of users and changing information needs. The business environment changes
as a result of technological advances, organizational growth, increased competition,
government regulation, or changes in accounting principles, when
it does, the accounting system should be sufficiently flexible to meet the
resulting changes in the demands made upon it.
If the accounting system is cost effective, provides useful output, and has the
flexibility to meet future needs, it can provide a valuable service and make a
major contribution to both individual and organizational goals.
A Systems Analyst
Going concernConsistency of accounting principles and presentationPrudenceMatching of income and expenses, andSeparate valuation of assets and liabilities
You can basically get accounting information from any software system that I currently know of. Microsoft has Excel, Linux has Calc, and you can also put Excel onto Apples.
Accounting information systems is generally composed of 6 main parts. They are people/users, data, procedures and instructions, software, information technology infrastructure and internal controls.
Users of the output of accounting information systems would be the companies themselves, to see how they stand. The information is also used by outsiders. Banks will want to look at the accounting information to know if they should make a loan to the company. If it's a public company stockholders will use the information in purchasing or trading stock.
Ulric J. Gelinas has written: 'Accounting information systems' -- subject(s): Accounting, Data processing, Informatiesystemen, Accountancy 'Acquiring, developing and implementing Accounting information systems' -- subject(s): Accounting, Data processing, Handbooks, manuals
James A. Hall has written: 'Accounting information systems' -- subject(s): Accounting, Information storage and retrieval systems, Data processing 'Accounting information systems' -- subject(s): Information storage and retrieval systems, Data processing, Accounting
The publication, Wiley, has many articles regarding accounting information systems. The International Journal of Accounting Information Systems is also a great resource regarding where to purchase this product.
There are so many different types of accounting information systems. Some of the common ones include project accounting, forensic accounting, tax accounting, management accounting and so much more.
Studies which address issues related to the systems and the users of systems that collect, store, and generate accounting information. Users are defined broadly to include those involved in collection, storage, or use of accounting information or even the implementation of the system. These systems may be electronic or not. Research streams include, but are not limited to design science, ontological investigations, expert systems, decision aides, support systems, processing assurance, security, controls, system usability, and system performance.
David H. Li has written: 'Accounting information systems' -- subject(s): Accounting, Information storage and retrieval systems, Data processing 'Xiangqi Syllabus on Horse' 'All-by-yourself self-publishing' -- subject(s): Self-publishing 'Design and management of information systems' -- subject(s): Management information systems 'Our Town' 'Accounting, computers, management information systems' -- subject(s): Accounting, Data processing 'Cost accounting for management applications' -- subject(s): Cost accounting 'The happy game of mah-jong' -- subject(s): Mah jong
Leonard A. Robinson has written: 'Accounting information systems, a cycle approach' -- subject(s): Accounting, Data processing, Information storage and retrieval systems
To many companies rely on accounting information systems because they are so prevalent. If the system fails, the business would be at a loss for information.
A Systems Analyst
Anita Sawyer Hollander has written: 'Accounting, information technology, and business solutions' -- subject(s): Accounting, Information storage and retrieval systems, Information technology, Managerial accounting
A systems analyst is an information specialist who performs systems analysis, design, and implementation.
Accounting information systems generally consist of six main parts: people, procedures and instructions, data, software, information technology infrastructure and internal controls.