Accounting Information Sytems

Wikipedia An invoice information musical arrangement (AIS) is a system of collection, storage and answering of fiscal and account data that is used by decision makers. An accounting information system is generally a computer-based method for tracking accounting activity in conjunction with information technology resources. The resulting statistical reports can be used internally by management or externally by other interested parties including investors, creditors and tax authorities. The actual physical devices and systems that allows the AIS to pass away and perform its functions 1. sexual conditions and security measures what is implemented to safeguard the data 2. Model Base ManagementThe collection, storage and processing of financial and accounting data that is used by decision makers. An accounting information system is generally a computer-based method for tracking accounting activity in conjunction with information technology resources. The resulting statistical report s can be used internally by management or externally by other interested parties including investors, creditors and tax authorities. An accounting information systems that combines traditional accounting practices such(prenominal) as the Generally Accepted Accounting Principles (GAAP) with modern information technology resources. Six elements compose the typical accounting information system People the system users.Procedure and Instructions methods for retrieving and processing data. Data information pertinent to the organizations line practices. Software computer programs used to process data.Information Technology Infrastructure hardware used to operate the system. Internal Controls security measures to protect sensitive data.MANAGEMENT ACCOUNTINGManagement accounting or managerial accounting is concerned with the provisions and use of accounting information to managers within organizations, to nominate them with the basis to make informed business decisions that will all ow them to be better equipped in their management andcontrol functions.In contrast to financial accountancy information, management accounting information is primarily forward-looking, sort of of historicallymodel based with a degree of abstraction to support decision making generically, instead of case based designed and intended for use by managers within the organization, instead of being intended for use by parcel outholders, creditors, and public regulators usually clandestine and used by management, instead of publicly reported computed by reference to the needs of managers, often using management information systems, instead of by reference to general.The process of preparing management reports andaccounts that provide accurate and timely financial and statistical information required by managers to make day-to-day and short-term decisions. Unlike financial accounting, which produces annual reports mainly for external stakeholders, management accounting generates monthly or weekly reports for an organizations internal audiences such as department managers and the chief executive officer. These reports typically show the amount of available cash, sales revenue generated, amount of orders in hand, state of accounts payable and accounts receivable, outstanding debts, raw material and inventory, and may also hold trend charts, variance analysis, and other statistics. Also called managerial accounting.BUSINESS POLICYThis course examines the components and processes of the strategical management model, using examples from Canada and the United States. Students learn to do case analysis end-to-end the course. Topics covered include strategic management, social responsibility, environmental and internal analysis and diagnosis, strategy selection, and implementation and evaluation After completing this course, students should be able to carry through a rigorous analysis of a participations strategic direction. Identify and explain a companys mission and vision statement and relate and critiquethese statements to the companys strategic direction. piece a SWOT (strengths, weakness, opportunities, and threats) analysis and explain and evaluate the relationship between the SWOT and a companys strategic direction. Identify and explain all micro and macro instruction forces that shape a companys strategic plan and determine performance. Analyze and evaluate all the steps for the proper alignment of financial and non-financial resources within a companys strategic plan.Analyze a companys strategic plan in the context of the industry life cycle and environment in which it operates. Analyze, evaluate, and draw conclusions on the effectiveness and performance of control and integration mechanisms. Establish metrics to assess and measure strategic performance. Analyze and evaluate the companys communication and feedback loop relative to company strategy and performance.Analyze, evaluate, and draw conclusions on the financial performance re lative to the companys strategic plan. Analyze, evaluate, and identify risks and risk mitigation strategies appropriate to the companys strategic direction. Analyze, evaluate, and develop strategies for a single or multi-business organization. Assess, analyze, and recommend changes to company strategy based on a full analysis of a companys strategic plan. Develop and prepare a strategic review document presented in a consistent form and properly documented.PRODUCTION AND OPERATIONS MANAGEMENTProduction and Operations Management (POM) is close the transformation of work and operational inputs into outputs that, when distributed, meet the needs of customers.The process in the above diagram is often referred to as the Conversion Process. There are several different methods of handling the conversion or production process Job, Batch, Flow and Group. POM incorporates many tasks that are interdependent, but which can be grouped under five main headingsPRODUCTMarketers in a business mus t ensure that a business sells products that meet customer needs and wants. The role of Production and Operations is to ensure that the business actually makes the required products in accordance with the plan. The role of PRODUCT in POM therefore concerns areas such as Performance Aesthetics Quality Reliability Quantity Production be Delivery datesPLANTTo make PRODUCT, PLANT of some kind is needed. This will comprise the bulk of the fixed assets of the business. In determining which PLANT to use, management must film areas such as Future demand (volume, timing) Design and layout of factory, equipment, offices Productivity and reliability of equipment Need for (and costs of) maintenance Heath and safety (particularly the operation of equipment) Environmental issues (e.g. mental institution of waste products)PROCESSESThere are many different ways of producing a product. Management must choose the best process, or series of processes.They will consider ready(prenominal ) capacity Available skills Type of production Layout of plant and equipment Safety Production costs Maintenance requirementsPROGRAMMESThe production PROGRAMME concerns the dates and times of the products that are to be produced and supplied to customers. The decisions do about programme will be influenced by factors such as Purchasing patterns (e.g. lead time) Cash flow Need for / availability of storage TransportationPEOPLEProduction depends on PEOPLE, whose skills, experience and motivation vary. Key people-related decisions will consider the following areas Wages and salaries Safety and training Work conditions Leadership and motivation Unionisation CommunicationGOOD GOVERNANCEGood governance is about the processes for making and implementing decisions. Its not about making correct decisions, but about the best possible process for making those decisions.Good decision-making processes, and therefore good governance, share several characteristics. All have a posit ive effect on various aspects of local government including consultation policies and practices, meeting procedures, service quality protocols, councillor and officer conduct, role clarification and good working relationships.