Question

600 WORDS REQUIREMENT!!!

Review the various accounting information systems companies develop and implement.

Answer 1

The major Accounting Information System can be classified into following categories:

a. Manual Systems:

These are systems which do no involve Information technology. All the accounting related work are done manually. It requires source documents, general ledger, general journal, and subsidiary journals. Mostly seen in small business where transactions are limited and hence there is no complex accounting system required. Example: trading Business generally have Manual Accounting Systems

b. Legacy Systems:

Here Information Technology forms a key part of the accounting Environment. IT forms the basic structure where accounting data is recorded, processed, and stored. EIP Systems coe under this category which provide holistic accounting facility to large Corporate Hourses.

Generally Legacy Systems are customized as per business requirements. Expert personnel are required for such systems.

c. Other Systems Like MIS(Management Information System), KPS(Knowledge Processing System).etc