ais_cybertext_chap1_notes - Accounting Information Systems...

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Accounting Information Systems CYBERTEXT Chapter 1: Introduction LEARNING OBJECTIVES Discuss the Impact of the information revolution on the accounting function: Businesses must still capture, process, store, and report accounting and other information about business processes to assess performance. 0 Old: Industrial orientated societies; job focus on production of goods 1 New: Information orientated societies; job focus on management of information Accounting: traditional “bookkeeping” is a no-no. The accountant’s focus should be on design, control, and use of the enterprise-wide repository of data. The goal is to serve as the provider of information within the organization. They should capture all relevant information about the organization, both financial and non-financial significant events within the business. Explain the purpose of accounting and the role of the accounting professional in organizations: Every organization started with the objective of adding value for those who belong to it and/or interact with it. Organizational leaders and managers need information about its value adding activities as a basis for determining whether the organization is achieving its goals. This information about organizational value adding and cost incurring activities is the domain of the accounting function in the organization. System - accepts inputs, performs some processing, and generates meaningful outputs. Accounting (as a system) - takes business transactions as data inputs and ultimately generates a variety of financial reports as information outputs. Double-entry
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This note was uploaded on 04/06/2012 for the course ACCT 458 taught by Professor Gillett during the Fall '09 term at Rutgers.

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ais_cybertext_chap1_notes - Accounting Information Systems...

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