Time goes by quickly and it's the end of the term. I am honoured to
have this term studying with our professor and each of our
classmates. This course has helped me to understand AIS more
comprehensively and in depth, which has helped me a lot. The
Accounting Information System (AIS) is a structure used by a
business to collect, store, manage, process, retrieve and report its
financial data for use by accountants, consultants, business analysts,
managers, chief financial officers (CFOs), auditors, regulators, and tax
agencies (Fontinelle). The software component of AIS is the
computer program used to store, retrieve, process, and analyze a
company's financial data.
I am currently working for a local accounting firm. The business
mainly includes bookkeeping, payroll, and taxation. b Our clients
include small to medium sized businesses, and non-profit
organizations. Quickbooks are used in our daily work. We have been
using this software to do bookkeeping for our clients. We have been
very busy over the past few weeks using Quickbook to do the yearly
financial reports for our clients so that they can prepare their tax
returns. Also, we have some Homeowners association clients that
we need to use Quickbook to send bills to homeowners and record
their payments. b We also need to use Quickbook for end of month
reconciliations for them. b We use Quickbooks to help our church
clients keep track of the offerings they receive each week. Budget
reports at the beginning of each year and a List of Giving Reports at
the end of the year are also done with this software.
If I am the manager of my organization, I think I have the following
recommendation for better protect data. We should implement
separation of accounting duties. b Cash receipts and disbursements
are processed separately, with separate people approving invoices,
preparing checks, signing checks, and reconciling bank accounts for
segregation of duties. We should retain administrator privileges for
the company's accounting system and consider limiting user access
to the areas required for the function. This will facilitate review of
voided and deleted transactions and help expose irregularities in the
process.
Reference:
Fontinelle, Amy. March 18, 2022. Introduction to Accounting
Information Systems (AIS)
https://www.investopedia.com/articles/professionaleducation/11/a
ccounting-information-systems.asp
Romney, M. B., Steinbart, P. J., Summers, S. L., & Wood, D. A. (2020).
Accounting Information Systems (15th ed.). Pearson Education (US).
