Question

List 10 features that should be included in an AIS.

Thank you

Answer 1

A Good Accounting information should have the following features:

1. Reporting and Analysis- A good accounting information system should be capable of analyzing and reporting the various statutory guidelines line Basel 3 norms, Sarbanes Oxley- Act etc. Apart from this it should be capable enough to produce and generate various reports demanded by management.
2. Graphics- It should have good graphic features so that reports with graphs and picture can be used to show trends and patterns
3. Automation- Apart from simple accounting software, a good accounting system support other activities of other departments and other financial activities. ERP is one of the example of automation
4. Auto Update- As there are change in tax laws, regulation of financial practices so these changes should be automatic updated in Accounting information system
5. Customization- A good accounting information should be flexible enough to get it customized according to the requirement of your organization
6. Interoperability- A good accounting information should be inter operatable so that information from other department can be extracted easily by accounting department and information can be used in accounting information
7. Online connectivity- A good accounting information system should support online connectivity to transfer and receiving and sending the required information
8. Security- A good accounting information should be secured enough to provide protection from unauthorized access and to various malwares
9. Scalability- should have enough capability to expanded business volume
10. Expandability – it should have expandability features to accommodate new business areas and products