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  • Accounting Information Systems - Introduction

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    Mega Company purchased from Ora Company a P2,000,000, 8% 5-year note that required five equal annual year-end payments of P500,900. The note was discounted to yield a 9% rate to Mega. At the date of purchase, Mega recorded the note at its present valueMega Company purchased from Ora Company a P2,000,000, 8% 5-year note that required five equal annual year-end payments of P500,900. The note was discounted to yield a 9% rate to Mega. At the date of purchase, Mega recorded the note at its present value

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    Mega Company purchased from Ora Company a P2,000,000, 8% 5-year note that required five equal annual year-end payments of P500,900. The note was discounted to yield a 9% rate to Mega. At the date of purchase, Mega recorded the note at its present valueMega Company purchased from Ora Company a P2,000,000, 8% 5-year note that required five equal annual year-end payments of P500,900. The note was discounted to yield a 9% rate to Mega. At the date of purchase, Mega recorded the note at its present value

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    54 visualizzazioni16 pagine

    Accounting Information Systems - Introduction

    Caricato da

    jikee11
    Mega Company purchased from Ora Company a P2,000,000, 8% 5-year note that required five equal annual year-end payments of P500,900. The note was discounted to yield a 9% rate to Mega. At the date of purchase, Mega recorded the note at its present valueMega Company purchased from Ora Company a P2,000,000, 8% 5-year note that required five equal annual year-end payments of P500,900. The note was discounted to yield a 9% rate to Mega. At the date of purchase, Mega recorded the note at its present value

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    © All Rights Reserved
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    di 16

    Accounting Information Systems

    Introduction

    1
    What is an Accounting Information
    System (AIS)?

    2
    An Answer:

    “An AIS is a system that collects,


    records, stores and processes data to
    produce information for decision
    makers.” Accounting Information Systems, 2006, p.6.

    3
    What roles can accountants play in
    regards to AIS in organizations?

    4
    An Answer:
    1. External Auditor
    2. Tax Accountant
    3. Internal Auditor/Risk Manager

    4. Consultant
    5. Implementation Team Member
    6. Business Analyst
    7. Budget Analyst
    8. Financial Analyst
    9. Systems Analyst
    10. Controller
    11. Accounting Clerk
    12. CFO, etc.

    5
    S&S Questions:

    1. How should information be organized


    so that Scott and Susan, external
    entities, and other employees can be
    effective? (What does effective
    mean to S&S?)

    2. How can this information be


    collected and processed, while
    making sure this information is
    complete, reliable and accurate?

    6
    An Answer:
    1.
     Effective is defined by the
    business objectives.
     Start with decisions that
    stakeholders need to make.
     Tools to use are overview of
    business activities, key decisions
    and information needs, p. 27
     Tools to use are transaction
    cycles and interactions between
    entities p. 31, revised

    7
    2.
     Capture data at the source
     Exception reporting
     Plan vs. actual
     Standard naming conventions
     Standard coding structures
     Summary reporting with drill-
    down
     Audit trail
     Normalized relational database

    8
    S&S Questions:
    1. What tools and techniques are
    available to use to document
    existing information systems and why
    do I need to do this?

    2. What tools are available to design


    the new AIS?

    9
    An Answer:
    1.
     Earlier tools referenced
     Sample reports, source documents
     As-Is business process models
     As-Is Program flowcharts
     As-Is Data Models
     Policies
     Hardware/Software standards

    10
    2.
     Business objectives
     AIS objectives
     Same as 1 above (to-be)
     Procedures
     Hardware performance
     Software performance

    11
    S&S Questions:
    1.What is a relational database and
    how is it different from excel?

    2.Why does using a relational


    database make sense for S&S’s new
    AIS?

    3.Should S&S buy off-the-shelf


    software or custom develop the new
    system?

    12
    An Answer:
    1. Insert, update, delete anomolies
    addressed in a relational
    database, not in a flat file like
    excel
    2. Data can be shared across
    applications, users and regions
    more easily and with greater
    accuracy in a relational database
    (see 1). Data standards are
    easier to enforce, and data
    security easier to manage.

    13
    3. Accounting applications are fairly
    standard across organizations and
    can be purchased off-the-shelf in
    almost all situations. (S&S
    offers nothing unique and should
    purchase off-the-shelf)

    14
    Class Friday:

    We will be in KOBL 320 (computer


    lab) becoming familiar with
    Microsoft Access. Be prepared to
    discuss problem 4.3 on page 131.

    No class next Monday, September 3rd


    or Friday, September 7th.

    15
    Prepare Section 2, Systems Analysis
    and Design, Software Selection for
    next Wednesday, September 5th.

    16

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