Online Accounting Information Systems (AIS and MIS) Homework Help for High Grades
What is AIS?
Accounting Information system is used to collect, store and process data and this data is to be used by decision makers in a company or the authorities. All these above mentioned data need to be financial or related to accounting. Information technology is used to for tracking and keeping record of all the accounting activities.
The information or data that is derived can not only be used by the management by also by concerned external parties like creditors, investors, tax authorities. The accounting functions which can be supported by Accounting Information System include: financial accounting and reporting, audit, tax accounting and management accounting. Get online Accounting Information Systems (AIS and MIS) Homework Help if you’re having trouble with an assignment on AIS.
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What is the reason for using the accounting Information System?
Accounting Information System is a gift of technological advancements that helps to keep a tab on all the accounting activities which are going on in a firm. The purpose of the modern computer based accounting information system is to reduce manual labor, to save time, to increase efficiency and to bring about improved organization of data. With the latest system, it is incredibly convenient to keep a detailed record of all financial transactions, cash flows, financial standing and performance. And hence, business decisions become more accurate.
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What is the Fundamental Accounting information System Principles?
There are five main principles which students must know of while dealing with AIS and they are:
- Relevance Principle
- Control Principle
- Cost-benefit principle
- Flexibility principle
- Compatibility principle
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