Question

• Accounting Information Systems
• Data Analysis
• Honors Business Law
• Supply Chain Management
• Taxation of Entities
• Taxation of Individuals

Answer 1

An accounting information system (AIS) is a structure that a business uses to collect, store, manage, process, retrieve and report its financial data so it can be used by accountants, consultants, business analysts, tax agencies, etc. Trained accountants work in-depth with accounting information system to ensure the highest level of accuracy in financial transactions and record-keeping and keeping the data intact and secure. AIS generally consists of six primary components: people, procedures and instructions, data, software, information technology infrastructure, and internal controls.

Data analysis is defined as a process of cleaning, transforming, and modeling data to extract useful information for business decision-making. The purpose of Data Analysis is to use useful information from data and takes decisions based on data analysis.

Honors Business Law provides an understanding of the law and its effect and relationship to people and business. Inevitably the use of a contract applies to most of these business activities. Students will gain an understanding of why and how contracts are used in business.

Supply chain management is the flow of goods and services and includes all processes that transform raw materials into final products. It involves the active streamlining of a business's supply-side activities to maximize customer value and gain a competitive advantage in the marketplace. SCM is based on the idea that every product comes to market results from the efforts of various organizations that make up a supply chain.

Taxation of Entities explains that the corporation and the owners are considered to be different legal entities. Therefore, The business’s tax obligations are separate from the owners’. Owners are not personally liable for business debts. So their personal assets are protected. The tax implications of incorporating a business are more complicated for corporations than other tax entity types. And, corporations have the highest administrative fees.

Taxation of Individuals means a tax imposed on individuals or entities (taxpayers) with respective income or profits. The companies tax is usually known as corporate tax and is levied at a flat rate. However, individuals are taxed with various tax rates according to the band in which they fall.