AIS615 Accounting Information System Assignment Answer Malaysia

AIS615 Accounting Information System course provides an overview of the role of information systems in accounting and financial reporting. It covers the design, development, implementation, and control of accounting information systems.

The course is designed for students who are interested in pursuing a career in accounting or auditing. It covers topics such as double-entry bookkeeping, transaction processing, general ledger systems, accounts receivable and payable systems, manufacturing overhead allocation, budgeting and forecasting, and performance measurement.

Students who successfully complete AIS615 will be able to understand how accounting information is processed and reported within an organization. They will also be able to design and implement efficient accounting information systems that meet the needs of their organization.

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In this section, we provide some assignment activities. These are:

Assignment Activity 1: Explain The Role, Component Of Accounting Information Systems, And Internal Control Using The Documentation Technique In Organizations.

An accounting information system (AIS) is a collection of data and processes that are used to produce financial information. This information is then used by managers, investors, and other interested parties to make decisions about the allocation of resources within an organization.

The role of accounting information systems is to provide organizations with the necessary tools to manage financial data and maintain accurate records.

The components of an AIS can be broadly classified into three categories: input, processing, and output. 

• Input refers to the raw data that is fed into the system. This data can come from various sources, such as financial transactions, customer records, or even sensor readings. Once this input data has been collected, it must be processed in order to extract useful information from it. 
• Processing involves transforming the input data into something that is more meaningful and useful. This can be done through a variety of methods, such as data entry, data cleansing, data aggregation, or data mining. 
• Output is the final product of the AIS, and it is what is used by managers and other interested parties to make decisions. Output can take many different forms, such as financial statements, reports, dashboards, or even alerts. 

Internal control is a process that is used to ensure the accuracy and completeness of financial data. It is also used to prevent and detect fraud. Internal control can take many different forms, but some common methods include segregation of duties, physical controls, and independent verification.

The documentation technique is a method of organizing and documenting accounting information systems. It is used to create a system map, which is a graphical representation of the AIS. The documentation technique is also used to create process flowcharts, which show the step-by-step processes that are used to produce financial information.

Assignment Activity 2: Describe The Business Process, The Related Technologies/Infrastructure, And Challenges.

A business process can be defined as a set of activities that need to be completed in order to achieve a specific goal. The related technologies/infrastructure can include anything from email to enterprise resource planning (ERP) systems.

The biggest challenge when implementing a business process is usually getting everyone on board and ensuring that everyone understands their role in the process. Another challenge can be ensuring that the technology/infrastructure is capable of supporting the new process. There can also be challenges with data integration and getting all the data into the correct format for analysis.

The most important thing to remember when implementing a new business process is that there will always be some challenges, but these can be overcome with careful planning and execution.

Assignment Activity 3: Prepare A Full Set Of Accounts For Medium Size Companies In A Computerized Environment.

The computerized accounting environment has changed the way accountants work. There are many software packages that are available to accountants which can assist them in preparing financial statements.

One such software package is QuickBooks. This software is used to maintain the books of accounts of a business. It helps the accountant in recording all the financial transactions of a business and also preparing the final accounts of the company. QuickBooks is a very user-friendly software and even an amateur user can easily operate it after reading the manual once.

Another popular software used by accountants is Microsoft Excel. This software is used to prepare complex financial statements like balance sheets, profit and loss statements, and cash flow statements. It also helps in analyzing different types of data. Microsoft Excel is a very powerful tool and it can be used to prepare any type of financial statement.

There are many other software packages available in the market which can be used by accountants to prepare financial statements. Some of these software packages are Peachtree, MYOB, and Sage.

Accountants can also use online accounting services to maintain the books of accounts of a business. These online accounting services are very convenient to use and they can be accessed from anywhere in the world.

The most important thing that an accountant should remember while choosing a software package is that the software should be user-friendly and it should be able to meet the specific needs of the business.

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