(AIS) Accounting information systems

Chapter 1

1. Accounting information systems is a collection of resources, such as people and equipment, designed to transform financial and other data into information.
2. The users of accounting information fall into two groups: external and internal.
External users include stockholders, investors, creditors, compettiros, labor union, ect. They use the company’s financial statements to gain insight into the company. Internal users consist of different levels of management who each need different information.
3. Electronic “data processing”- use of computer technology to perform an organization’s transaction-oriented data processing. “routine/general info”
Management information systems- provides decision-oriented information to managers.
Decision Support System- requires the use of decision models and special databases, provides specific nonroutine information to managers. “what if info”
Expert systems- uses its knowledge about specific application area to act as an expert “human “consultant to the users. the use of decision models and special databases
Executive information system- tailored to the strategic information needs of top management.
Accounting information systems- transforms accounting data into information. Transaction processing cycles, use of info technology, and development of info systems
4. Transaction cycles group activities into 4 common cycles:
1. Revenue cycle- events related to the distribution of goods and services to other entities and the collection of payment
2. Expenditure cycle- Events related to the acquisition of goods and services from other entities and settlement of obligations
3. Production cycle- events related to the transformation of recources into goods and services
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