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ACC564003VA016-1196-001 - Accounting Info Systems
Week 10 Assignment 4 - Submit Here
Umaru Konneh
on Sat, Sep 07 2019, 1:49 PM
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Submission ID: ec933b49-837a-49a9-8fdc-87db3917a98d
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Running head:
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ACCOUNTING INFORMATION SYSTEM 1
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ACCOUNTING INFORMATION SYSTEM 1
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ACCOUNTING INFORMATION SYSTEM 1
ACCOUNTING INFORMATION SYSTEM 8
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ACCOUNTING INFORMATION SYSTEM 8
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ACCOUNTING INFORMATION SYSTEM 8
Accounting Information System
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Accounting Information System
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Accounting Information System
Student’s Name:
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Umaru Konneh Institution:
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Umaru Konneh Institution
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Umaru Konneh Institution
Strayer University Tutor:
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Strayer University Tutor
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Strayer University Tutor
Daniel Acheampong Date:
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Daniel Acheampong Date
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Daniel Acheampong Date
07/ 11/2019
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07/ 11/2019
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07/ 11/2019
Introduction
1
Accounting information systems have become very critical in ensuring that a business is run effectively.
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Accounting information systems have become very critical in ensuring that a business is run effectively
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Accounting information systems have become very critical in ensuring that a business is run effectively
The capabilities of these systems has been significantly growing over the years and they are now capable of handling very complex computations.
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The capabilities of these systems has been significantly growing over the years and they are now capable of handling very complex computations
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The capabilities of these systems has been significantly growing over the years and they are now capable of handling very complex computations
Initially, companies in the past used manual means of keeping their records of the sales and purchases that they made to keep their business process operational.
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Initially, companies in the past used manual means of keeping their records of the sales and purchases that they made to keep their business process operational
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Initially, companies in the past used manual means of keeping their records of the sales and purchases that they made to keep their business process operational
It was very challenging at the time to ensure that the records were accurate since the people in charge of maintaining the records could make some errors especially when the figures were enormous.
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It was very challenging at the time to ensure that the records were accurate since the people in charge of maintaining the records could make some errors especially when the figures were enormous
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It was very challenging at the time to ensure that the records were accurate since the people in charge of maintaining the records could make some errors especially when the figures were enormous
The computations of the formulas were an even bigger challenge.
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The computations of the formulas were an even bigger challenge
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The computations of the formulas were an even bigger challenge
However, business is now able to make and keep accurate financial records through the new accounting information systems.
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However, business is now able to make and keep accurate financial records through the new accounting information systems
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However, business is now able to make and keep accurate financial records through the new accounting information systems
These systems are able to draw instrumental information from the data that is fed in them.
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These systems are able to draw instrumental information from the data that is fed in them
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These systems are able to draw instrumental information from the data that is fed in them
The accounting information systems use all the relevant financial data to come up with graphs and other data presentation predictions that guide the managers in making decisions that will influence the financial position of a business in the future.
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The accounting information systems use all the relevant financial data to come up with graphs and other data presentation predictions that guide the managers in making decisions that will influence the financial position of a business in the future
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The accounting information systems use all the relevant financial data to come up with graphs and other data presentation predictions that guide the managers in making decisions that will influence the financial position of a business in the future
Improper assumptions about accounting information systems
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Improper assumptions about accounting information systems
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Improper assumptions about accounting information systems
However, there are some improper assumptions that corporate leaders make about accounting information systems.
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However, there are some improper assumptions that corporate leaders make about accounting information systems
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However, there are some improper assumptions that corporate leaders make about accounting information systems
In some cases, these assumptions lead to the failure of the companies that rely on these accounting information systems to make their business decisions.
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In some cases, these assumptions lead to the failure of the companies that rely on these accounting information systems to make their business decisions
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In some cases, these assumptions lead to the failure of the companies that rely on these accounting information systems to make their business decisions
One of the most common assumptions that most corporate leaders make is that accounting information systems are very accurate and reliable (Hoque, 2018).
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One of the most common assumptions that most corporate leaders make is that accounting information systems are very accurate and reliable (Hoque, 2018)
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One of the most common assumptions that most corporate leaders make is that accounting information systems are very accurate and reliable (Hoque, 2018)
Some corporate leaders tend to believe that the information they get from these systems is correct and they do not bother counter checking to confirm that there are no errors in the system.
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Some corporate leaders tend to believe that the information they get from these systems is correct and they do not bother counter checking to confirm that there are no errors in the system
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Some corporate leaders tend to believe that the information they get from these systems is correct and they do not bother counter checking to confirm that there are no errors in the system
This assumption messes up some business especially in cases where the systems are faulty.
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This assumption messes up some business especially in cases where the systems are faulty
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This assumption messes up some business especially in cases where the systems are faulty
The information that accounting information systems give is only as accurate as the data that is fed into the sheets.
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The information that accounting information systems give is only as accurate as the data that is fed into the sheets
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The information that accounting information systems give is only as accurate as the data that is fed into the sheets
When wrong data is entered into the systems, the give inaccurate information in return (Heeks, 2017).
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When wrong data is entered into the systems, the give inaccurate information in return (Heeks, 2017)
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When wrong data is entered into the systems, the give inaccurate information in return (Heeks, 2017)
Therefore, it is very important for managers to always ensure that they confirm whether the information derived by the accounting information systems is correct.
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Therefore, it is very important for managers to always ensure that they confirm whether the information derived by the accounting information systems is correct
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Therefore, it is very important for managers to always ensure that they confirm whether the information derived by the accounting information systems is correct
Businesses should not over rely on the predictions of computer aided accounting tools especially without some human intervention.
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Businesses should not over rely on the predictions of computer aided accounting tools especially without some human intervention
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Businesses should not over rely on the predictions of computer aided accounting tools especially without some human intervention
System security assumption
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System security assumption
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System security assumption
Another assumption made about accounting information systems is the high level of security they attribute to these systems.
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Another assumption made about accounting information systems is the high level of security they attribute to these systems
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Another assumption made about accounting information systems is the high level of security they attribute to these systems
Some company leaders believe that their businesses are safe from money theft as long as they are using these computerized systems to account for all their sources of income as well as all their expenditures.
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Some company leaders believe that their businesses are safe from money theft as long as they are using these computerized systems to account for all their sources of income as well as all their expenditures
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Some company leaders believe that their businesses are safe from money theft as long as they are using these computerized systems to account for all their sources of income as well as all their expenditures
Money laundering was very common in the past since malicious people could edit the computations in the accounting books and it would be very difficult to detect the calculation anomalies (Rikhardsson, 2017).
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Money laundering was very common in the past since malicious people could edit the computations in the accounting books and it would be very difficult to detect the calculation anomalies (Rikhardsson, 2017)
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Money laundering was very common in the past since malicious people could edit the computations in the accounting books and it would be very difficult to detect the calculation anomalies (Rikhardsson, 2017)
However, the current situation is not any better with the use of computerized accounting systems.
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However, the current situation is not any better with the use of computerized accounting systems
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However, the current situation is not any better with the use of computerized accounting systems
The occurrences of fraud are still quite high.
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The occurrences of fraud are still quite high
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The occurrences of fraud are still quite high
Hackers have become a constant threat to the security of all sorts systems and the increasing cyber-attacks put the accounting information systems at a risk of being altered to camouflage money that has been stolen from organizations.
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Hackers have become a constant threat to the security of all sorts systems and the increasing cyber-attacks put the accounting information systems at a risk of being altered to camouflage money that has been stolen from organizations
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Hackers have become a constant threat to the security of all sorts systems and the increasing cyber-attacks put the accounting information systems at a risk of being altered to camouflage money that has been stolen from organizations
The perpetrators of these cyber-crimes have become very dangerous since they are using very advanced technology to gain access to private networks.
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The perpetrators of these cyber-crimes have become very dangerous since they are using very advanced technology to gain access to private networks
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The perpetrators of these cyber-crimes have become very dangerous since they are using very advanced technology to gain access to private networks
All businesses must take up reliable measures to secure their systems (Bendovschi, 2015).
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All businesses must take up reliable measures to secure their systems (Bendovschi, 2015)
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All businesses must take up reliable measures to secure their systems (Bendovschi, 2015)
It is crucial for business managers to hire qualified computer network experts who will ensure that all the appropriate security firewalls are installed.
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It is crucial for business managers to hire qualified computer network experts who will ensure that all the appropriate security firewalls are installed
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It is crucial for business managers to hire qualified computer network experts who will ensure that all the appropriate security firewalls are installed
They should also have algorithms that can be instrumental in detecting any anomalies that may occur within the system.
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They should also have algorithms that can be instrumental in detecting any anomalies that may occur within the system
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They should also have algorithms that can be instrumental in detecting any anomalies that may occur within the system
The system should be able to warn the managers in case there is any case of theft detected.
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The system should be able to warn the managers in case there is any case of theft detected
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The system should be able to warn the managers in case there is any case of theft detected
The accounting information systems should also have secondary back-up storage as well as other recovery mechanisms that will ensure the data is not lost after an attack.
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The accounting information systems should also have secondary back-up storage as well as other recovery mechanisms that will ensure the data is not lost after an attack
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The accounting information systems should also have secondary back-up storage as well as other recovery mechanisms that will ensure the data is not lost after an attack
Improving organizational performance
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Improving organizational performance
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Improving organizational performance
Companies can gain many advantages from effectively organizing and managing the information on their systems.
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Companies can gain many advantages from effectively organizing and managing the information on their systems
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Companies can gain many advantages from effectively organizing and managing the information on their systems
One of the major benefits of organizing information is the facilitation of an effective decision-making process.
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One of the major benefits of organizing information is the facilitation of an effective decision-making process
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One of the major benefits of organizing information is the facilitation of an effective decision-making process
Managers and their assistants are able to easily analyze data when it is well-organized and settle on decisions that are helpful to their business.
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Managers and their assistants are able to easily analyze data when it is well-organized and settle on decisions that are helpful to their business
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Managers and their assistants are able to easily analyze data when it is well-organized and settle on decisions that are helpful to their business
Managing the data fed into the information systems involves ensuring that only relevant data is stored on the databases.
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Managing the data fed into the information systems involves ensuring that only relevant data is stored on the databases
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Managing the data fed into the information systems involves ensuring that only relevant data is stored on the databases
This strategy further enhances the decision-making process by enabling the business data analysts to make accurate predictions.
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This strategy further enhances the decision-making process by enabling the business data analysts to make accurate predictions
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This strategy further enhances the decision-making process by enabling the business data analysts to make accurate predictions
Companies benefit from properly managing their information through acquiring accurate predictions and higher competitive advantage (Chang, 2016).
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Companies benefit from properly managing their information through acquiring accurate predictions and higher competitive advantage (Chang, 2016)
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Companies benefit from properly managing their information through acquiring accurate predictions and higher competitive advantage (Chang, 2016)
Effective investment decisions
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Effective investment decisions
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Effective investment decisions
A well-managed accounting information system shows the details of the monetary resources that a company has invested in each department.
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A well-managed accounting information system shows the details of the monetary resources that a company has invested in each department
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A well-managed accounting information system shows the details of the monetary resources that a company has invested in each department
The money invested in each department is also compared to the income that the various business units are earning.
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The money invested in each department is also compared to the income that the various business units are earning
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The money invested in each department is also compared to the income that the various business units are earning
The managers are then able to determine whether they are over-investing in a specific department based on whether it is making loses or minimal profits.
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The managers are then able to determine whether they are over-investing in a specific department based on whether it is making loses or minimal profits
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The managers are then able to determine whether they are over-investing in a specific department based on whether it is making loses or minimal profits
This properly organized information is very effective in closely monitoring the performance of each business unit.
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This properly organized information is very effective in closely monitoring the performance of each business unit
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This properly organized information is very effective in closely monitoring the performance of each business unit
In case a business unit is not performing as expected, then the managers can prioritize their efforts on finding out the issues that could be preventing a department from performing well (Chang, 2016).
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In case a business unit is not performing as expected, then the managers can prioritize their efforts on finding out the issues that could be preventing a department from performing well (Chang, 2016)
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In case a business unit is not performing as expected, then the managers can prioritize their efforts on finding out the issues that could be preventing a department from performing well (Chang, 2016)
A firm also stands to improve its performance in new ventures by properly organizing its information.
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A firm also stands to improve its performance in new ventures by properly organizing its information
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A firm also stands to improve its performance in new ventures by properly organizing its information
Investing in new ideas is one of the most challenging decisions for most businesses.
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Investing in new ideas is one of the most challenging decisions for most businesses
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Investing in new ideas is one of the most challenging decisions for most businesses
In some cases, the new business turn out to be very profitable and they build a well-recognized brand for a business.
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In some cases, the new business turn out to be very profitable and they build a well-recognized brand for a business
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In some cases, the new business turn out to be very profitable and they build a well-recognized brand for a business
Unfortunately, in some situations business invest in the wrong ideas and they make major loses that leave them wallowing in debts.
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Unfortunately, in some situations business invest in the wrong ideas and they make major loses that leave them wallowing in debts
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Unfortunately, in some situations business invest in the wrong ideas and they make major loses that leave them wallowing in debts
When information is well-managed in a business system, the managers and their business advisors are able to conduct effective and accurate feasibility studies (Chang, 2016).
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When information is well-managed in a business system, the managers and their business advisors are able to conduct effective and accurate feasibility studies (Chang, 2016)
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When information is well-managed in a business system, the managers and their business advisors are able to conduct effective and accurate feasibility studies (Chang, 2016)
This technique enables the corporate leaders to determine whether a certain new venture is worth investing their resources.
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This technique enables the corporate leaders to determine whether a certain new venture is worth investing their resources
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This technique enables the corporate leaders to determine whether a certain new venture is worth investing their resources
Therefore, business should always have a reliable business system before deciding to launch a new product or service into the market.
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Therefore, business should always have a reliable business system before deciding to launch a new product or service into the market
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Therefore, business should always have a reliable business system before deciding to launch a new product or service into the market
Enhanced productivity A business is also able to achieve higher productivity from properly organizing the information on their business systems.
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Enhanced productivity A business is also able to achieve higher productivity from properly organizing the information on their business systems
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Enhanced productivity A business is also able to achieve higher productivity from properly organizing the information on their business systems
When a business system is effectively managed, it takes less time to retrieve crucial information that is required by the employees to facilitate the daily operations.
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When a business system is effectively managed, it takes less time to retrieve crucial information that is required by the employees to facilitate the daily operations
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When a business system is effectively managed, it takes less time to retrieve crucial information that is required by the employees to facilitate the daily operations
Therefore, the staff members are able to save time and work on significant functionalities of a business (Chang, 2016).
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Therefore, the staff members are able to save time and work on significant functionalities of a business (Chang, 2016)
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Therefore, the staff members are able to save time and work on significant functionalities of a business (Chang, 2016)
Customers are served faster when a business has a reliable properly organized business systems.
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Customers are served faster when a business has a reliable properly organized business systems
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Customers are served faster when a business has a reliable properly organized business systems
As a result, the customer-satisfaction levels rise and the business is able to retain most of its clients.
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As a result, the customer-satisfaction levels rise and the business is able to retain most of its clients
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As a result, the customer-satisfaction levels rise and the business is able to retain most of its clients
Customer satisfaction
1
A properly managed business system also contains information relating to customer preferences.
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A properly managed business system also contains information relating to customer preferences
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A properly managed business system also contains information relating to customer preferences
The managers are able to improve their services and products based on the qualities of their clients.
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The managers are able to improve their services and products based on the qualities of their clients
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The managers are able to improve their services and products based on the qualities of their clients
The new products introduced into a market are also based on the preferences of the current customers.
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The new products introduced into a market are also based on the preferences of the current customers
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The new products introduced into a market are also based on the preferences of the current customers
New product varieties can also influenced by a need or gap that the managers of a company notice from the analysis of the information in the properly managed and organized business systems (Noe, Hollenbeck, Gerhart, & Wright, 2017).
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New product varieties can also influenced by a need or gap that the managers of a company notice from the analysis of the information in the properly managed and organized business systems (Noe, Hollenbeck, Gerhart, & Wright, 2017)
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New product varieties can also influenced by a need or gap that the managers of a company notice from the analysis of the information in the properly managed and organized business systems (Noe, Hollenbeck, Gerhart, & Wright, 2017)
The new services or commodities must meet the required standards and it is advisable to ensure that they satisfy all the needs of the people who purchase them.
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The new services or commodities must meet the required standards and it is advisable to ensure that they satisfy all the needs of the people who purchase them
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Another student's paper
The new services or commodities must meet the required standards and it is advisable to ensure that they satisfy all the needs of the people who purchase them
Evaluation of system security levels
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Evaluation of system security levels
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Evaluation of system security levels
System security is a critical aspect that must be considered by all corporate leaders.
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System security is a critical aspect that must be considered by all corporate leaders
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System security is a critical aspect that must be considered by all corporate leaders
The levels of system security implemented depend on various factors.
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The levels of system security implemented depend on various factors
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The levels of system security implemented depend on various factors
The computer network security experts hired by the company have to consider many aspects before advising the managers on the appropriate level of system security that will be ideal for them to run their daily operations (Chang, 2016).
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The computer network security experts hired by the company have to consider many aspects before advising the managers on the appropriate level of system security that will be ideal for them to run their daily operations (Chang, 2016)
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Another student's paper
The computer network security experts hired by the company have to consider many aspects before advising the managers on the appropriate level of system security that will be ideal for them to run their daily operations (Chang, 2016)
High security level
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High security level
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High security level
This level of security is ideal in a business system that contains sensitive information about a business.
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This level of security is ideal in a business system that contains sensitive information about a business
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This level of security is ideal in a business system that contains sensitive information about a business
Content such as trade secrets and payment details of a company’s customers has to be protected using the most advanced security mechanisms.
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Content such as trade secrets and payment details of a company’s customers has to be protected using the most advanced security mechanisms
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Content such as trade secrets and payment details of a company’s customers has to be protected using the most advanced security mechanisms
The effects that a business would face in case such sensitive information is leaked are destructive and could even lead to the permanent collapse and closure of a business.
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The effects that a business would face in case such sensitive information is leaked are destructive and could even lead to the permanent collapse and closure of a business
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Another student's paper
The effects that a business would face in case such sensitive information is leaked are destructive and could even lead to the permanent collapse and closure of a business
In an automated business system there is very minimal human intervention in terms of operating the various functionalities or ensuring that there is no leakage of sensitive data (Noe, Hollenbeck, Gerhart, & Wright, 2017).
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In an automated business system there is very minimal human intervention in terms of operating the various functionalities or ensuring that there is no leakage of sensitive data (Noe, Hollenbeck, Gerhart, & Wright, 2017)
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Another student's paper
In an automated business system there is very minimal human intervention in terms of operating the various functionalities or ensuring that there is no leakage of sensitive data (Noe, Hollenbeck, Gerhart, & Wright, 2017)
Most if not all of the processes are controlled by the computer aided tools.
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Most if not all of the processes are controlled by the computer aided tools
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Most if not all of the processes are controlled by the computer aided tools
In such a case, a business needs to ensure that it designs and implements a high level security mechanism.
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In such a case, a business needs to ensure that it designs and implements a high level security mechanism
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Another student's paper
In such a case, a business needs to ensure that it designs and implements a high level security mechanism
Automated systems can be very risky due to lack of human monitoring and therefore they require effective security levels.
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Automated systems can be very risky due to lack of human monitoring and therefore they require effective security levels
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Another student's paper
Automated systems can be very risky due to lack of human monitoring and therefore they require effective security levels
References
Bendovschi, A. (2015).
1
Cyber-attacks–trends, patterns and security countermeasures.
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Cyber-attacks–trends, patterns and security countermeasures
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Another student's paper
Cyber-attacks–trends, patterns and security countermeasures
Procedia Economics and Finance, 28, 24-31.
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Procedia Economics and Finance, 28, 24-31
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Another student's paper
Procedia Economics and Finance, 28, 24-31
Chang, J. F. (2016).
1
Business process management systems:
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Business process management systems
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Another student's paper
Business process management systems
strategy and implementation.
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strategy and implementation
Source -
Another student's paper
strategy and implementation
Auerbach Publications.
Heeks, R. (2017).
1
Information technology, information systems and public sector accountability.
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Information technology, information systems and public sector accountability
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Another student's paper
Information technology, information systems and public sector accountability
In Information Technology in Context:
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In Information Technology in Context
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Another student's paper
In Information Technology in Context
Studies from the Perspective of Developing Countries (pp.
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Studies from the Perspective of Developing Countries (pp
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Another student's paper
Studies from the Perspective of Developing Countries (pp
201-219). Routledge.
Hoque, Z. (2018).
1
Methodological issues in accounting research.
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Methodological issues in accounting research
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Another student's paper
Methodological issues in accounting research
Spiramus Press Ltd.
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Spiramus Press Ltd
Source -
Another student's paper
Spiramus Press Ltd
Noe, R.
1
A., Hollenbeck, J.
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A., Hollenbeck, J
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A., Hollenbeck, J
R., Gerhart, B., & Wright, P.
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R., Gerhart, B., & Wright, P
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Another student's paper
R., Gerhart, B., & Wright, P
M. (2017).
1
Human resource management:
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Human resource management
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Another student's paper
Human resource management
Gaining a competitive advantage.
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Gaining a competitive advantage
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Another student's paper
Gaining a competitive advantage
New York, NY:
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New York, NY
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Another student's paper
New York, NY
McGraw-Hill Education.
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McGraw-Hill Education
Source -
Another student's paper
McGraw-Hill Education
Rikhardsson, P. M. (2017).
1
Information systems for corporate environmental management accounting and performance measurement.
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Information systems for corporate environmental management accounting and performance measurement
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Another student's paper
Information systems for corporate environmental management accounting and performance measurement
In Sustainable Measures (pp.
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In Sustainable Measures (pp
Source -
Another student's paper
In Sustainable Measures (pp
132-150). Routledge.