Accounting Information System
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Accounting Information Systems
©2002 Prentice Hall, Inc.
Business Publishing
Accounting, 5/E
Horngren/Harrison/Bamber
6-
ACCOUNTING INFORMATION SYSTEM
Procedures, technologies, and record of an organization .one is to develop a/c info.2nd is to communicate this info to Decision makers . ©2002 Prentice Hall, Inc.
Business Publishing
Accounting, 5/E
Horngren/Harrison/Bamber
6-
DETERMINING INFORMATION NEEDS ●
Income tax regulations require every business to have an a/c system that can measure the co’s taxable income and explain the nature and source of every item in the co.’s income tax return .
●
Federal securities laws require publicly owned companies to prepare financial statement in conformity with GAAP.
©2002 Prentice Hall, Inc.
Business Publishing
Accounting, 5/E
Horngren/Harrison/Bamber
6-
The cost of producing accounting information ● Cost
effective management may use cost-effectiveness as a criterion for deciding whether or not to produce certain information .
©2002 Prentice Hall, Inc.
Business Publishing
Accounting, 5/E
Horngren/Harrison/Bamber
6-
Basic functions of an accounting system ● ●
Interpret and record the effects of business transaction. Classify the effects of similar transactions in a manner that permits determination of various totals and subtotals useful to management and used in a/c reports. ● Summarize and communicate the information contained in the system to decision makers.
©2002 Prentice Hall, Inc.
Business Publishing
Accounting, 5/E
Horngren/Harrison/Bamber
6-
Who designs and installs a/c system. ●
system analysts, internal auditors , other professionals who work full time for it
●
CPA firm to design and install their system .
●
ACCOUNTING PAKAGES
©2002 Prentice Hall, Inc.
Business Publishing
Accounting, 5/E
Horngren/Harrison/Bamber
6-
Components of internal control (frame work )
Risk Risk management management RRiisskk ass asseessssm meenntt
iess CCoonntrtrooll aacctitivvititie nn o i t a c o i i t n a u c m ni m u o m c m d o n c a d n maattiioon an IInnffoorrm
Monitoring Monitoring ©2002 Prentice Hall, Inc.
Business Publishing
Accounting, 5/E
Horngren/Harrison/Bamber
6-
Chart of simple organization –OWNER
–B.O.D –CEF –STAFF –PLANT –MANG –PLANT
2
MANG 2
–CONTROLLER
©2002 Prentice Hall, Inc.
Business Publishing
–TREASURER
Accounting, 5/E
Horngren/Harrison/Bamber
6-
Conclusion Many facts affects the structure of the accounting system within a particular organization. like co.’s needs and sources available for operation of the system ©2002 Prentice Hall, Inc.
Business Publishing
Accounting, 5/E
Horngren/Harrison/Bamber
6-
©2002 Prentice Hall, Inc.
Business Publishing
Accounting, 5/E
Horngren/Harrison/Bamber
6-
ACCOUNTING INFORMATION SYSTEM
Procedures, technologies, and record of an organization .one is to develop a/c info.2nd is to communicate this info to Decision makers . ©2002 Prentice Hall, Inc.
Business Publishing
Accounting, 5/E
Horngren/Harrison/Bamber
6-
DETERMINING INFORMATION NEEDS ●
Income tax regulations require every business to have an a/c system that can measure the co’s taxable income and explain the nature and source of every item in the co.’s income tax return .
●
Federal securities laws require publicly owned companies to prepare financial statement in conformity with GAAP.
©2002 Prentice Hall, Inc.
Business Publishing
Accounting, 5/E
Horngren/Harrison/Bamber
6-
The cost of producing accounting information ● Cost
effective management may use cost-effectiveness as a criterion for deciding whether or not to produce certain information .
©2002 Prentice Hall, Inc.
Business Publishing
Accounting, 5/E
Horngren/Harrison/Bamber
6-
Basic functions of an accounting system ● ●
Interpret and record the effects of business transaction. Classify the effects of similar transactions in a manner that permits determination of various totals and subtotals useful to management and used in a/c reports. ● Summarize and communicate the information contained in the system to decision makers.
©2002 Prentice Hall, Inc.
Business Publishing
Accounting, 5/E
Horngren/Harrison/Bamber
6-
Who designs and installs a/c system. ●
system analysts, internal auditors , other professionals who work full time for it
●
CPA firm to design and install their system .
●
ACCOUNTING PAKAGES
©2002 Prentice Hall, Inc.
Business Publishing
Accounting, 5/E
Horngren/Harrison/Bamber
6-
Components of internal control (frame work )
Risk Risk management management RRiisskk ass asseessssm meenntt
iess CCoonntrtrooll aacctitivvititie nn o i t a c o i i t n a u c m ni m u o m c m d o n c a d n maattiioon an IInnffoorrm
Monitoring Monitoring ©2002 Prentice Hall, Inc.
Business Publishing
Accounting, 5/E
Horngren/Harrison/Bamber
6-
Chart of simple organization –OWNER
–B.O.D –CEF –STAFF –PLANT –MANG –PLANT
2
MANG 2
–CONTROLLER
©2002 Prentice Hall, Inc.
Business Publishing
–TREASURER
Accounting, 5/E
Horngren/Harrison/Bamber
6-
Conclusion Many facts affects the structure of the accounting system within a particular organization. like co.’s needs and sources available for operation of the system ©2002 Prentice Hall, Inc.
Business Publishing
Accounting, 5/E
Horngren/Harrison/Bamber
6-
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