This document discusses accounting information systems and accounting software. It provides an overview of how accounting tasks have been automated and integrated into enterprise resource planning (ERP) systems. It describes the key components of ERP systems and accounting information systems. It also discusses typical operational accounting systems, management accounting systems, online accounting systems, factors to consider when selecting accounting software, and some major accounting software providers.
This document discusses accounting information systems and accounting software. It provides an overview of how accounting tasks have been automated and integrated into enterprise resource planning (ERP) systems. It describes the key components of ERP systems and accounting information systems. It also discusses typical operational accounting systems, management accounting systems, online accounting systems, factors to consider when selecting accounting software, and some major accounting software providers.
This document discusses accounting information systems and accounting software. It provides an overview of how accounting tasks have been automated and integrated into enterprise resource planning (ERP) systems. It describes the key components of ERP systems and accounting information systems. It also discusses typical operational accounting systems, management accounting systems, online accounting systems, factors to consider when selecting accounting software, and some major accounting software providers.
This document discusses accounting information systems and accounting software. It provides an overview of how accounting tasks have been automated and integrated into enterprise resource planning (ERP) systems. It describes the key components of ERP systems and accounting information systems. It also discusses typical operational accounting systems, management accounting systems, online accounting systems, factors to consider when selecting accounting software, and some major accounting software providers.
Download as PPTX, PDF, TXT or read online from Scribd
Download as pptx, pdf, or txt
You are on page 1/ 14
COMPUTER AND
INFORMATION TECHNOLOGY Key objectives Overview
ERP system
Accounting information system
Integrated accounting software
Typical operational accounting systems include
Management accounting systems Online accounting systems Selecting the Right Accounting Software Market leaders Why do companies need accounting software? Overview • Because of the repetitive nature of many tasks in accounting, it is not surprising that these tasks have been automated. • With advances in hardware and software technology, accounting software has become increasingly sophisticated and customized for specific industry needs. For many large firms, accounting software has evolved to become a module within integrated enterprise software called enterprise resource planning (ERP) systems. These ERP systems encompass the needs of an entire organization and have large databases at their core. In ERP systems, the accounting functions interface with manufacturing, sales and distribution, human resources applications, and other systems. The largest enterprises today, realizing the benefits of integrating their information systems, extend their ERP systems up and down their supply chains. ERP SYSTEM accounting
human resources ERP manufacturing
sales and distribution Accounting information system
An accounting information system (AIS) is a subsystem of am MIS, that processes financial and transactional data relevant to managerial decisions as well as financial accounting. AISs are the oldest and most widely used information system in business. AIS had been widely used by many organizations to automate and integrate their business operations. The main objective of many businesses to adopt this system are to improve their business efficiency and increase competitiveness. The qualitative characteristic of any accounting information system can be maintained if there is a sound internal control system. Integrated Accounting Software
Integrated accounting software can process all types of accounting transactions. These include transactions affecting accounts in both general and special journals, such as sales and purchases. Integrated accounting software programs organize transaction processing. A sample of features commonly found in integrated accounting software programs are as follow:
capability features reports Typical operational accounting systems include:
Order processing General Inventory ledger control systems
Accounts Accounts payroll receivable Accounts payable Management accounting systems
focus on the planning and control of business operations they emphasize:
1. Cost accounting reports 2. Development of financial budgets and projected financial statements 3. Analytical report comparing actual to forecasted performance. Online accounting systems: Accounting information system are being affected by the internet and client/server technologies. Using the internet and intranets, extranets, and other networks change how accounting information systems monitor and track activity. The online interaction nature of such networks calls for new form of transaction documents, procedure, and controls. Many companies are using or developing a network links to their trading partners through the use of the internet and other applications such as order processing inventory control, accounts receivables, and accounts payable. Selecting the Right Accounting Software
Managers should consider many factors when selecting a
computer software package. This includes: • Features and capabilities • Compatibility and integration • Ease of customization. • Ease of use • Written documentation and technical support • Price • Vendors reputation and stability Market leaders Other software Write up software: adds values to write up services and is able to easily create an array of printout and reports that client might need. Tax preparation software: computerized tax preparation let the user prepare a return quickly and accurately and allows the user easily do planning and then quickly makes all the necessary changes. Audit software: performs audits efficiently and effectively. This include automated workpapers, data extraction software and trial balance software. It allows auditors to access client’s files for audit testing. The auditor can audit through computer. Spreadsheets: allows the user to work with data in huge number of rows and columns. It eliminates the need to perform manual calculations and can perform powerful computer aided operations. Activity based costing (ABC): accumulates cost on the basis of production or services at the firm. It assigns cost by activity and link them to specific products. The accountant can perform more tasks easily and accurately accumulates cost information and perform. Moreover, management can make decisions regarding its operations and products. Extensive business reporting language (XBRL): it is designed to extract useful information from available accounting and financial data. It makes available financial information in an easy-to-use format on the internet. Value chain management software: it processes information and improves the operation of the value chain. Compliance software: this includes software for business intelligence, business process management, document management, email management, financial and accounting software and enterprise resource planning.
