Describe and compare the unique characteristics and AIS needs for the accounting information systems for the Professional Service Organizations, the Not-for-Profit Organizations and Health Care Organizations.© BrainMass Inc. brainmass.com March 4, 2021, 8:11 pm ad1c9bdddf
Professional Service Organizations:
The first step for professional services firms is winning the business. AIS systems should help professional services firms by providing solutions that can help track the opportunity, determine the impact on resources, and even generate a contract. Next is planning the project - you need to define the work breakdown structure (the activities to complete the project), build a budget and assign resources to each activity. Employees will then enter the time they spent on the project or activity. It should be critical for every professional service organization to have visibility on project status. Everyone needs to know how they are doing compared to the budget. It's not enough to know how your budget compares to actuals. What if the estimated costs to complete the project are greater than the remaining budget? All these features should be provided in an AIS.
Professional service firms use a variety of methods to bill their clients - in detail, in summary, or by reconciling actuals to budget. Unfortunately, many firms use a manual system to generate invoices. Not only is this inefficient; it's an open invitation ...
AIS needs for accounting information systems for the following organizations: Professional Services, Not-for-Profit and Health Care