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    Ais Chapter 2 Case

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    saffzx
    The document discusses organizing an accounting information system for a business called S&S. It provides recommendations on: 1) Organizing accounting records around the data processing cycle to easily produce financial statements. This includes records for billing, sales analysis, purchasing, payments, general ledger, inventory, payroll and taxes. 2) Collecting transaction data from both internal and external sources, including sales data about dates, employees, payments, items, prices and customer information. The data should then be processed through activities like creating, retrieving, updating and deleting records. 3) Organizing the collected data in one central place to facilitate recordkeeping, reporting, analysis, auditing and decision making. The data must be complete

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    Ais Chapter 2 Case

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    saffzx
    27 views3 pages
    The document discusses organizing an accounting information system for a business called S&S. It provides recommendations on: 1) Organizing accounting records around the data processing cycle to easily produce financial statements. This includes records for billing, sales analysis, purchasing, payments, general ledger, inventory, payroll and taxes. 2) Collecting transaction data from both internal and external sources, including sales data about dates, employees, payments, items, prices and customer information. The data should then be processed through activities like creating, retrieving, updating and deleting records. 3) Organizing the collected data in one central place to facilitate recordkeeping, reporting, analysis, auditing and decision making. The data must be complete

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    Accounting Information System

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    The document discusses organizing an accounting information system for a business called S&S. It provides recommendations on: 1) Organizing accounting records around the data processing cycle to easily produce financial statements. This includes records for billing, sales analysis, purchasing, payments, general ledger, inventory, payroll and taxes. 2) Collecting transaction data from both internal and external sources, including sales data about dates, employees, payments, items, prices and customer information. The data should then be processed through activities like creating, retrieving, updating and deleting records. 3) Organizing the collected data in one central place to facilitate recordkeeping, reporting, analysis, auditing and decision making. The data must be complete

    Copyright:

    © All Rights Reserved
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    Download as docx, pdf, or txt
    27 views3 pages

    Ais Chapter 2 Case

    Uploaded by

    saffzx
    The document discusses organizing an accounting information system for a business called S&S. It provides recommendations on: 1) Organizing accounting records around the data processing cycle to easily produce financial statements. This includes records for billing, sales analysis, purchasing, payments, general ledger, inventory, payroll and taxes. 2) Collecting transaction data from both internal and external sources, including sales data about dates, employees, payments, items, prices and customer information. The data should then be processed through activities like creating, retrieving, updating and deleting records. 3) Organizing the collected data in one central place to facilitate recordkeeping, reporting, analysis, auditing and decision making. The data must be complete

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    SAFIRA ALIFAH

    12030117190231

    Accounting Information System - CHAPTER 2

    INTEGRATIVE CASE S&S

    1. How should I organize the accounting records so that financial statements can be easily
    produced?

    To help organize the accounting records, can follow the data processing cycle. So the
    financial statement can be easily produced:

    - Customer billing statements


    - Sales analyzing reports
    - Purchase requisition
    - Vendor invoices
    - Check registers
    - General ledger
    - Inventory data
    - Payroll information
    - Timekeeping
    - Tax information

    Consider the consequences if S&S use only one general ledger account for all sales
    transactions, it would be easy to produce reports showing the total amount of sales for a
    given time period, but it would be very difficult to prepare reports separating cash and credit
    sales.

    2. How am I going to collect and process data about all of S&S’s transactions?

    The data can be made in both way manual and automated. It is used for collecting, storing,
    retrieving and processing data. The data can come from both internal sources (e.g.,
    employees) and external sources (e.g customers' online orders). Procedures and instructions
    will be coded into AIS software; they should also be "coded" into employees through
    documentation and training.
    The data must be collected about three facets of each business activity:

    • Each activity of interest


    • The resources affected by each activity
    • The people who participate in each activity

    Also S&S may find a useful to collect the following data about sales transtraction:

    • Date and fine the sales occurred


    • Employee who made the sale & the checkout clerk who processed the sale
    • Checkout registers where the sale was processed
    • Item sold
    • Quantity of each item sold
    • List price & actual price of each item sold
    • Total amount of the sale
    • Delivery instructions
    • For credit sales: customer name, customer bill to and ship to addresses

    After collecting all the data in paper source he may transfer it to computer to make it easier to
    be processed. In the processing the transaction, there are four types of data processing
    activities:

    • Creating new data records


    • Reading retrieving / viewing existing data
    • Updating previously stared data
    • Deleting data

    Perhaps Ashton may use batch processing which means accumulating transaction records to
    groups or batches for processing at a regular interval such as daily or weekly, thus this will
    help Ashton in order to process the transaction & to make the financial statement

    3. How do I organize all the data that will be collected?

    The data can be used to prepare accounting statements and also reports such as accounts
    receivable ageing, depreciation/amortization schedules, loan schedules, trial balance, profit
    and loss, and others. This data is to be kept in one place. It facilitates a business's
    recordkeeping, reporting, analysis, auditing and decision-making activities. So that it must be
    complete, correct and relevant.
    4. How should I design the AIS so that the information provided is reliable and accurate?

    An Accounting Information System (AIS) provides the information to all companies’


    organization or individual. That information is used to determine and evaluate the long term
    and short term financial stability. Employees track expenses, provide detailed insight about
    the expenses and future paths. It is used to prepare, analyze and verify financial documents it
    is used to collect, store, manage, process, retrieve and report its financial data so that it can
    be used.

    5. How can I design procedures to ensure that they meet all government obligations, such
    as remitting sales, income, and payroll taxes?

    We can design procedures by purchasing tax software so that they can meet all government
    obligations on time. All taxes are paid as on due date and returns are filed in prescribed
    format.

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