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Pages:
1 pages/≈275 words
Sources:
1
Style:
APA
Subject:
Accounting, Finance, SPSS
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 5.27
Topic:
Accounting Cycle of Accounting Information Systems
Essay Instructions:
Accounting information systems are designed to collect and process transaction data and communicate the financial information to concerned parties. The design of a number of types of accounting information systems vary significantly. A number of factors influence the design of these systems, such as the size of the business, the type of business, the volume of data, the type of data management needs, and other factors.
Describe what you consider some important features of integrated accounting software for small businesses. Why do you think they are important?
You are the accountant for a business. Explain the accounting cycle of an AIS as you understand and perform it each month.
Essay Sample Content Preview:
Accounting Information System
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Accounting Information System
An accounting information system is established by businesses to monitor all financial and business activities. Properly designed accounting systems comprise key elements such as people, internal controls, accounting procedures, accounting rules, and software. The accounting cycle is an organized process of recording a company's financial transactions holistically, allowing the organization to track all the business processes and financial transactions involved in a given period (Fitriati et al., 2020). An accounting cycle typically consists of several phases, including identifying the financial transactions, preparing journal entries, posting, preparing the unadjusted trial balance, preparing the worksheet document, conducting any necessary modifications on journal entries, preparing the annual financial stat...
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