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An accounting information system (AIS) is a system of collecting, storing and processing financial and accounting data that are used by decision makers.An accounting information system is generally a computer-based method for tracking accounting activity in conjunction with information technology resources.
Accounting information systems are designed to support accounting functions and related activities. Accounting has existed in various forms and levels of sophistication throughout human history. The double-entry accounting system in use today was developed in medieval Europe, particularly in Venice, and is usually attributed to the Italian ...
Accounting software is a computer program that maintains account books on computers, including recording transactions and account balances. It may depend on virtual thinking. Depending on the purpose, the software can manage budgets, perform accounting tasks for multiple currencies, perform payroll and customer relationship management, and ...
An information system ( IS) is a formal, sociotechnical, organizational system designed to collect, process, store, and distribute information. [ 1] From a sociotechnical perspective, information systems comprise four components: task, people, structure (or roles), and technology. [ 2] Information systems can be defined as an integration of ...
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business and other organizations. [ 1] It involves preparing source documents for all transactions, operations, and other events of a business. Transactions include purchases, sales, receipts and payments by an individual person, organization or ...
e. Financial accounting is a branch of accounting concerned with the summary, analysis and reporting of financial transactions related to a business. [ 1] This involves the preparation of financial statements available for public use. Stockholders, suppliers, banks, employees, government agencies, business owners, and other stakeholders are ...
Internal control, as defined by accounting and auditing, is a process for assuring of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies. A broad concept, internal control involves everything that controls risks to an organization.
Resources, events, agents ( REA) is a model of how an accounting system can be re-engineered for the computer age. REA was originally proposed in 1982 by William E. McCarthy as a generalized accounting model [1], and contained the concepts of resources, events and agents (McCarthy 1982). REA is a standard approach in teaching accounting ...
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