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Introduction to Accounting Information Systems: Key Themes and Business Processes

This chapter provides an overview of Accounting Information Systems (AIS) and their central themes in relation to business processes. It explores the sequence of activities involved in acquiring, producing, and selling goods and services. Key transaction cycles including acquisition, conversion, and revenue are discussed. The chapter highlights the role of Management Information Systems (MIS) in data capture, storage, and decision support, as well as the function of AIS in producing financial information and supporting internal controls.

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Introduction to Accounting Information Systems: Key Themes and Business Processes

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  1. Chapter 1 INTRODUCTION TO ACCOUNTINGINFORMATION SYSTEMS

  2. Central Themes of This Text • Business processes • Information systems

  3. Business Processes • A sequence of activities: • for acquiring goods and services • for producing goods and services • for selling goods and services

  4. Business Processes • Models of business processes viewed in terms of transaction cycles. • Each transaction cycle involves several events.

  5. Business Processes • Three main transaction cycles: • An acquisition (purchasing) cycle is the process of purchasing and paying for goods/services. • A conversion cycle is the process of transforming resources acquired into goods/services. • A revenue cycle is the process of providing goods or services to customers and collecting cash.

  6. Typical Business Processes • Production • Sales

  7. Information Systems • A management information system (MIS) is a system that • captures data about an organization • stores and maintains the data • provides meaningful information for management.

  8. Information Systems • An MIS can be viewed as a set of subsystems that provide information for such functions as: • production • marketing • human resources • accounting • finance

  9. Management Information Systems • MIS captures • data about business processes • aggregates, summarizes, and organizes data • produces information that helps monitor and control business processes • ERP systems integrate all aspects of a firm’s business processes.

  10. Accounting Information System • An AIS is a subset of an organization’s MIS that provides: • accounting and financial information • other information obtained in the routine processing of accounting transactions

  11. Uses of Accounting Information Systems • Producing external reports • Supporting routine activities • Decision support • Planning and control • Implementing internal control

  12. Role of Accountants in Relation to AIS • User • Manager • Consultant • Evaluator • Provider of accounting and tax services

  13. Keyterms • Accounting information system (AIS) • Applications • Assurance services • Business process • Enterprise resource planning system (ERP)

  14. Keyterms • Events • Internal control • Management information system (MIS) • Off-the-shelf software • Transaction cycles

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