Answer: Accounting Information System: Present
Answer: Accounting Information System: Present
Answer: Accounting Information System: Present
Source/s: https://www.investopedia.com/articles/professionaleducation/11/accounting-
information-systems.asp
2. When was AIS first introduced? Present timeline of AIS progress. (3pts)
Answer:
1970s
Early accounting information systems were designed for payroll functions. Accounting
information systems were developed "in-house" as no packaged solutions were available.
Present
Accounting information systems are more commonly sold as prebuilt software packages from
large vendors such as Microsoft, Sage Group, SAP AG|SAP and Oracle Corporation|
Oracle where it is configured and customized to match the organization's business
processes. Small businesses often use accounting lower costs software packages such
as Tally.ERP 9, MYOB and Quickbooks.
Source/s: https://en.wikipedia.org/wiki/Accounting_information_system#:~:text=Early
%20accounting%20information%20systems%20were,no%20packaged%20solutions
%20were%20available.&text=Small%20businesses%20often%20use
%20accounting,ERP%209%2C%20MYOB%20and%20Quickbooks.
Every accounting information system has three basic functions that it must be able to perform.
An AIS program must be able to collect and store financial data about a company’s
business transactions. This should include capturing financial data content from source
information, recording transactional activities, and converting financial data into records,
ledgers, and the occasional report.
An AIS should be able to provide accurate and useful financial information and
knowledge to employees, executive, and stakeholders for the purpose of making prudent
business decisions and future planning.
An AIS should make sure to have a system in place to effectively collect and convert
financial data into actionable information and allow easy access for general analytics purposes.
Source/s: https://discoveraccounting.org/accounting-information-systems/
Source/s: https://aziroff.com/accounting-information-system/
5. As a student, what do you think is the importance of having knowledge in AIS? (5 points)
Answer:
Accounting information systems provides businesses with the ability to record all types
of financial information for future use. In addition, these systems are huge time-savers
and make the accounting processes and procedures easily repeatable. Because of that,
these systems save companies money because the number of people needed to complete
accounting processes is reduced. Also, the risk of human error is drastically reduced
because the computer systems manage the accounting processes, and documents are
automatically created by the systems. It is imperative that businesses keep accurate
books, and accounting information systems make this requirement much easier to meet.
Source/s: https://classroom.synonym.com/study-accounting-information-systems-
6309095.html