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Priorities of the AIS, Accounting Information System

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1. From the perspective of an accountant, what are your priorities about the accounting information system performance? How are these priorities related to the accounting internal control, the system components and the processes of developing the system?

2. What are the drawbacks of poorly documented systems?

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Solution Summary

The solution discusses why a system is needed and the results that can be expected. The second part reveals the problems that can arise as a result of a poor system.

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1a. From the perspective of an accountant, what are your priorities about the accounting information system performance?

The goal of an AIS is to provide accurate information on a timely basis with sufficient detail for the reader to understand the results of the transactions for a certain period of time.

Here is Wikipedia's definition: An accounting information system (AIS) is the system of records a business keeps to maintain its accounting system. This includes the purchase, sales, and other financial processes of the business. The purpose of an AIS ...

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