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Week 1 IS

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Pallavi rijal
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22 views

Week 1 IS

Uploaded by

Pallavi rijal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Week 1: Classwork

Name: Pallavi Rijal

SID: 19922010

1. An accounting information system (AIS) can be defined as 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, managers,
auditors, regulators, and tax agencies for decision making purpose. The data
aids concerned parties such as creditors, external agencies to make decisions
whether to purchase more stocks, make a loan and get information about
companies’ financial status.

AIS can enhance any business organization by improving its decision-making


process through the arrangement of necessary information on the right time to
the right persons .Moreover , it permits the users to take advantage of artificial
intelligence and use the knowledge of experts in performing their functions. Use
of AIS also promotes speedier processing of accounting information in real
time.

AIS basically has three main functions:

i. Storage:  Accounting system servers’ aids to store relevant data relating


to entity’s financial activities.

ii. Processing: Accounting system is useful in accurately recording and


processing the data to extract useful accounting and financial information
from it for the users.

iii. Information supply: Another vital function performed by accounting


system servers is to provide necessary information to the users of such
systems so that they can undertake effective decision-making regarding
their business.

2. Integrated enterprise system can be defined as the use of various software and
hardware systems of computer in the business to enhance the operational
efficiency of the business. These systems assist the managers in conducting
their business functions more effectively and efficiently.

In the case of Mom and Pop, a private business dealing in grocery items, the
execution of integrated enterprise system will uphold its growth to a greater
extent. It will help in maintaining the adequate records of significant economic
transactions undertaken by the business. It would prefer to be a financially
savvy choice to actualize such framework as it will permit the supervisor to
perform more suitably with the utilization of exact data provided by such
framework. Thus, an owner can consider having an enterprise integrated system
for the business.

3. The three database essentials an accounting professional needs to know are:

i. Field: A field can be defined as a piece of data; in spreadsheet fields are


shown in columns. For instance: customer last name.

ii. Record: A collection of related fields; in spreadsheet records are shown in


rows. For example: Customer record number.

iii. Table: It is a collection of related records with a unique table name. For
instance: Customer table.

4. Under no circumstances I would share my login and password with him who
do not have the authorization for that confidential information. Confidential
information must not be shared between others and companies are very strict
about these rules. Not complying with the company rules would cost me my
job. Thus, I will never do the mistake of sharing my details.

5. When any company secured and sensitive data is copied or moved into
portable device (for instance: a laptop), then the company data is accessible by
anyone whoever steals that device. Moreover, since data is outside of the
organization’s secured network it will be easier for the hack to access the data.

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