Accounting and Information Systems Where the Chart did I put that? Reporting today and tomorrow
Accounting and Information systems – should that be Accounting information Systems? • What is it - An accounting information system (AIS) is a structure that a business uses to collect, store, manage, process, retrieve and report its financial data so that it can be used
What did we do before? • Entry to post – • We sold $500 dollars of widgets on credit with net 30 terms to a customer.
Parts of an Accounting information System • People who use the system, including accountants, managers, and business analysts – who else? • Procedure and instructions are the ways that data are collected, stored, retrieved, and processed • Data including all the information that goes into an AIS • Software consists of computer programs used for processing data • Information technology infrastructure includes all the hardware used to operate the AIS • Internal controls are the security measures used to protect data – electronic and human
Data including all the information that goes into an AIS • Users? • Usefulness • Are you an Accountant or an Analyst? • Structure • Future • BIG Data?
What do we do with this data?
Challenges for Accounting Information Systems
Resources • https://www.wsj.com/articles/stop-using-excel-finance-chiefs-tell- staffs-1511346601 • https://www.icas.com/ca-today-news/the-end-of-the-accounting- profession-as-we-know-it
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