Accounting Information System (AIS) is a system that collects, stores, & processes financial data into outputs or information, usually financial statements, to be used by decision-makers.
- What is a system?
- What type of data does AIS capture?
- What are financial reports?
- What are the elements or components of an AIS?
- How can an AIS add value to businesses?
What is a system?
These are interrelated things that work together in order to achieve a certain objective/s.
What type of data does AIS capture?
Financial Data such as those produced by:
- and many more
What are financial reports?
Financial reports (or specifically financial statements) are formal records of a business’ financial activities and position. The way financial reports are created and structured is generally in accordance with generally accepted accounting principles (GAAP).
What are the elements or components of an AIS?
- IT Infrastructure
- Set of procedures
How can an AIS add value to businesses?
- Improvement of products and services
- Improvement of production efficiency
- Improvement of decision making