describe an effective accounting informaion system and explain managements role in it

Expert Solution

Answer:-

The objective of every accounting system is to collect data from transactions,process the data and produce useful reports to help management make sound decisions.

An effective Accounting Information System should have the following characteristics:-

a.All accounting systems must have proper internal controls.Internal controls safeguard the integrity of the information being input, processed and output by the information system.

b.Accounting system must produce information in a timely manner.Information must also be useful and understandable.

c.Accounting system must be capable of functioning in the industry the company operates.It should be compatible to conform to the company's activities and internal structure.

Managements role in accounting information system is to ensure that Accounting Information systems are properly implemented,what is claimed have been actually followed and running reports and making effective business decisions accordingly.

ekkarill92 answered 9 months ago

true of an effective accounting information system?

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