class23 - 33:010:458 33:010:458 Accounting Information...

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33:010:458 33:010:458 Accounting Information Accounting Information Systems Systems Dr. Peter R. Gillett Associate Professor Department of Accounting, Business Ethics and Information Systems Rutgers Business School–Newark and New Brunswick
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Accounting Information Systems November 18, 2009 Dr. Peter R. Gillett 2 A.I.S. Class 23: Outline A.I.S. Class 23: Outline ± A.I.S. and Financial Accounting ± Ash Accounting
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Accounting Information Systems November 18, 2009 Dr. Peter R. Gillett 3 A.I.S. and Financial Accounting A.I.S. and Financial Accounting ± Imagine you are an accounting professor. A prospective student who is considering majoring in accounting has asked you to explain the relationship between the material studied in A.I.S. and that studied in Intermediate Accounting. Explain how the material in each class complements the other, why both are needed, and the nature of the challenges currently facing the accounting profession with regard to the provision of valuable business information. Be challenging!
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Accounting Information Systems November 18, 2009 Dr. Peter R. Gillett 4 A.I.S. and Financial Accounting A.I.S. and Financial Accounting ± An Accounting View * Accounting methods were developed and and have been working for over 500 years * Financial reporting is crucial to our capital markets and the successful functioning of our economy * Financial reporting is controlled by legislation, regulation, and professional (accounting) standards * The system of ledgers, accounts, debits and credits has been continuously refined * All that really matters is the data needed to produce financial statements * Information systems are simply an efficient tool for providing the required reports
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Accounting Information Systems November 18, 2009 Dr. Peter R. Gillett
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class23 - 33:010:458 33:010:458 Accounting Information...

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