AIS615 Accounting Information System Assignment Sample UiTM Malaysia

AIS615 is an introductory course in accounting information systems (AIS). The objective of the course is to provide students with a conceptual understanding of the role of information systems in the financial reporting process. Students will also be introduced to basic design and implementation concepts for AIS. Finally, students will gain experience using accounting software to prepare financial statements.

The course is designed for students who want to pursue a career in accounting or business and who have no prior knowledge of accounting or information systems. The course covers topics such as double-entry bookkeeping, financial statement preparation, cash flow analysis, budgeting, cost analysis, and performance measurement. In addition, the course introduces students to the principles of database design and system implementation.

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We are discussing some activities below. The following are:

Assignment Activity 1: Explain the role, component of accounting information systems, and internal control using the documentation technique in organizations.

Accounting information systems (AIS) are a specialized field within the overall discipline of accounting that deals specifically with the design, implementation, and maintenance of accounting-related information technology. The role of AIS is to collect, process, store, and report financial data so that it can be used by both internal and external stakeholders to make informed decisions. 

There are three key components of an effective AIS:

1. Data collection: This involves gathering financial data from various sources within the organization (e.g., sales invoices, purchase orders, etc.).
2. Data processing: This step entails cleaning up the collected data and making sure it is accurate and consistent. This often includes tasks such as data entry, validation, and reconciliation.
3. Data storage and reporting: Once the data has been processed, it needs to be stored in a secure location (e.g., a database) from where it can be easily retrieved and reported on as needed.

In addition to the three main components of an AIS, there is also a fourth element that is often overlooked but is just as important: internal control. Internal control is a system of policies and procedures that helps ensure the accuracy and completeness of financial data. It also helps protect against errors, fraud, and theft.

Many different techniques can be used to document an organization’s accounting information system. One common method is flowcharting. Flowcharting is a graphical way of depicting the steps in a process. It is often used to document procedural information, such as the steps in a manufacturing process or the sequence of events in an accounting cycle.

Another popular technique for documenting AIS is data flow diagramming. Data flow diagrams (DFDs) show the flow of information through a system. They are often used to document the flow of data in an AIS.

DFDs can be divided into two main types:

1. Physical DFDs: Physical DFDs show the actual physical components of a system and how they are connected.
2. Logical DFDs: Logical DFDs show the flow of information through a system without regard to the physical components.

Both physical and logical DFDs are important for documenting an AIS. Physical DFDs are typically used to document the hardware and software components of a system, while logical DFDs are used to document the flow of data through the system.

Assignment Activity 2: Describe the business process, the related technologies/infrastructure, and challenges.

Business process automation (BPA) is the technology-enabled automation of activities or services that accomplish a specific function or goal. BPA can occur in any sector or industry and includes the automation of office tasks, manufacturing processes, logistics, accounting, communication, and utility management. 

The motivations for automating a business process vary but usually centre on one or more of the following drivers:

• Reduce costs
• Increase efficiency/productivity
• Improve quality or speed of output
• Allow the process to be completed with fewer inputs (fewer human resources, for example) 
• Generate real-time data for better decision making 
• Compliance with government regulations 

Typically there are three types of technology used to automate business processes:

1. Robotics: Robotics is the use of self-directing machines to complete tasks that would otherwise be completed by human workers.
2. Artificial intelligence (AI): AI is the use of computer systems to perform tasks that would normally require human intelligence, such as decision making and pattern recognition.
3. Process management software: Process management software is a type of application that helps businesses design, automate, and monitor their processes.

There are many challenges associated with automating business processes. One challenge is the need to integrate the new technology with existing systems and processes. Another challenge is the risk of data loss or corruption during the transition to the new system. Additionally, there is the potential for human error when using BPA, as well as the challenge of change management in getting employees to adopt the new system.

Another common challenge is the issue of scalability; as businesses grow, their processes often become more complex, making it difficult to maintain automation. Additionally, the initial cost of implementing BPA can be high, and there is always the risk that the technology will become obsolete before the investment is recouped.

Assignment activity 3: Prepare a full set of accounts for medium size companies in a computerized environment.

The preparation of financial statements for a medium-sized company in a computerized environment would include the following.

First, the income statement would be prepared, showing revenues and expenses for the period. This would then be followed by the balance sheet, which shows the company’s assets, liabilities, and equity as of the end of the period. Finally, the statement of cash flows would be prepared, summarizing how cash flowed in and out of the business over the period.

All of these financial statements would be based on data from the company’s accounting system, which would be used to generate trial balances and other supporting information. The various financial statements would then be compiled and presented in a formal format, suitable for filing with government agencies or for use in other external reporting.

While the process of preparing financial statements in a computerized environment is generally similar to the process of doing so manually, there are some important differences. One is that all of the data used in the preparation of the statements must be entered into the accounting system electronically. This can be done either by manually inputting the data or by importing it from another source, such as a spreadsheet.

Another difference is that the financial statements can be generated directly from the accounting system, using pre-defined templates. This can save considerable time and effort, compared to manually preparing the statements. Additionally, the use of templates can help to ensure that the financial statements are prepared consistently and accurately.

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