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The Information System: An Accountant's Perspective

This chapter discusses information systems and accounting information systems. It covers the key learning objectives, information flows within a business, differences between accounting and management information systems, and the role of accountants. The chapter also describes the subsystems of an accounting information system, a general model for information systems, organizational structure, and internal and external flows of information.

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30 views

The Information System: An Accountant's Perspective

This chapter discusses information systems and accounting information systems. It covers the key learning objectives, information flows within a business, differences between accounting and management information systems, and the role of accountants. The chapter also describes the subsystems of an accounting information system, a general model for information systems, organizational structure, and internal and external flows of information.

Uploaded by

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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Chapter 1

The Information System: An


Accountant’s Perspective
Learning Objectives
After studying this chapter, you should:
 Recognize the primary information flows within the business
environment.
 Understand the difference between accounting information systems
and management information systems.
 Understand the difference between financial transactions and
nonfinancial transactions.
 Know the principal features of the general model for information
systems.
 Understand the organizational structure and functional areas of a
business.
 Be able distinguish between external auditing, internal auditing, and
advisory services as they relate to accounting information systems.
The Information Environment
Information Objectives
An Information Systems Framework
AIS Subsystems
A general Model for AIS
Organizational Structure And AIS
Functional Segmentation
The Accounting Function
Information Technology
The Role of Accountants in AIS
Accountants as System Designers
Accountants as System Auditors
Internal and External Flows of Information
Information Objectives
Three Fundamental objectives are, however, common to
all organizations:
1) To support the firm’s day-to-day operations.
2) To support management decision making.
3) To support the stewardship function of
management.
An Information Systems Framework
The IS is the set of formal procedures by which data
are collected, stored, processed into information, and
distributed to users.
A Financial transaction is a economic event that
effects the assets and equities of the organization, is
reflected in its accounts, and is measures in monetary
terms.
Nonfinancial transactions are events that do not meet
the narrow definition of a financial transaction.
A Framework for Information Systems
The Accounting Information System
AIS subsystems process financial transaction and
nonfinancial transactions that directly affect the
processing of financial transactions. The AIS is
composed of three major subsystems:
1. The TPS.
2. GL/FRS
3. MRS
The Management Information System
A General Model for AIS
Functional Segmentation
The Accounting Function
Accounting captures and records the financial effects
of the economic events that constitute the Firm’s
transaction.
Accounting distributes transaction information to
operations personnel to coordinate many of their key
tasks.
Information Technology
Four IT functions:
1. Data processing.
2. Systems development and maintenance.
3. Database administration.
4. Network administration.
The Role of Accountants in AIS
Accountants as system designers– Accountants play a
prominent role on systems development teams as
domain experts.
Accountants as system auditors—Accountants
perform audits of business organizations for various
reasons, which typically involve the AIS. The most
common audits are external (attestation) audits,
Internal (operational) audits, and fraud audits.

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