Questions On Accounting Information Systems - 2346 Words

Author: Godfrey Masuku Student I.D: 11584448 Course: ACC539-201560 ACCOUNTING INFORMATION SYSTEMS – ASSIGNMENT 1 The abovementioned has been arranged in two parts on the same document, first Question 1 then Question 2 follows below that: QUESTION 1: Question 1: explanation of how implementation of cloud accounting information system in an organisation relates to corporate straegy and value chain. Risks and benefits are explored. Introduction We seek to investigate how the implementation of a cloud accounting information system relates to an organisation s corporate strategy and value chain. There are benefits that may be enjoyed by such an organisation although it would have to diligently contend with the risks such a move would entail. Value adding benefits would be favorable to the organisation s corporate strategy yet the risks may potentially destroy the organisation if not mitigated properly. Cloud accounting information systems involve the basic functionality of input, storage, processing and output. The applications are hosted by a service provider giving the customer ease of access and use anywhere using any device. This functionality is similar to the traditional inhouse accounting systems which are installed on the computer. Cloud Accounting information systems are accessed via a web based platform such as the internet. There are inherent risks and benefits associated with use of such as system as with any system. Benefits: AnyShow MoreRelatedQuestions On Accounting Information System1079 Words   |  5 PagesAssignment 1 Question 1 Accounting information system is the system that collect, store and process accounting data, organisation resource and its activities to provide necessary information to make decision in business. It converts data into information so business house can plan, control, implement and analyse its activities and resources. It provides supplementary control to safeguard the assets and data of business (Romney, 2012). Accounting information system plays a major role for corporateRead MoreQuestions On Accounting Information System Essay1316 Words   |  6 PagesDiscussion Accounting information system is increasingly important to contemporary organisations, can help to increase the flexibility, keep the necessary accounting records, save money and time on accounting record functions. Xero is an accounting report software development company, it established to provide beautiful accounting software. Drays Co is a company, sells medical equipment, which desires to adopt Xero accounting software. However Rose, who is the accountant of Dray Co, has difficultiesRead MoreAccounting Information System Chapter 1 Discussion Questions1687 Words   |  7 PagesDiscussion Questions 1. Discuss some of the challenges facing business today. Does information technology play a role in these challenges? Explain. The business world and society in general are undergoing phenomenal and sometimes turbulent change. The â€Å"new economy† driven by the Internet has seen the rise of entirely new businesses like Amazon.com, Yahoo, eBay, and of course Google. While the â€Å"dot com bust† of 2000 saw the demise of thousands of Internet-oriented businesses, the fact remains thatRead MoreAccounting1016 Words   |  5 PagesThe basic principles of an accounting information system include all of the following  except | |    | Student Answer: | |   cost effectiveness.  (Cost effectiveness is one of the basic principles of accounting information systems.) |    | | |   flexibility.  (Flexibility is one of the basic principles of accounting information systems.) |    | | |   useful output.  (Useful output is one of the basic principles of accounting information systems.) |    | | |   periodicity.  (Correct! 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Decisions are no longer based on theory, but on data analysis leveraged by using algorithms. These algorithms allow organizations to understand trends and patterns based on historical events. AccountantsRead MoreThe Impact of Contingencies on Management Accounting System Development.1725 Words   |  7 PagesManagement Accounting SYSTEM 1 3.0 THE IMPACT OF CONTINGENCIES ON MANAGEMENT ACCOUNTING SYSTEM DEVELOPMENT 2 ( i ) Environment 2 ( ii ) Strategies and mission 3 ( iii ) Technology 4 ( iv ) Firm interdependence 4 ( v ) Business unit, firm, and industry variables 5 ( vi ) Knowledge and observables factors 5 ( vii ) Culture 6 4.0 Summary and Conclusions 6 5.0 REFERENCE BOOKs 7 1.0 INTRODUCTION The management of a company needs to develop cost and management accounting systemsRead MoreThe Impact Of Accounting And Information Technology1704 Words   |  7 PagesIMPACT OF ACCOUNTING AND INFORMATION TECHNOLOGY Application of basic accounting theory is based on financial accounting practices used in the formation of a series of methods of the theory, mainly the development and implementation of accounting practice norms, is to guide and constrain accounting standards, the basis for evaluation of accounting. The development of accounting and information technology has given an impact to the accounting objectives, accounting assumptions and accounting informationRead MoreThe Role of Business in Society1070 Words   |  5 PagesTABLE OF CONTENTS QUESTION ONE 1 THE ROLE OF BUSINESS IN SOCIETY 1 QUESTION TWO 2 USERS OF ACCOUNTING INFORMATION 2 QUESTION THREE 3 THE INFLUENCE OF NZICA 3 QUESTION FOUR 4 QUALITATIVE CHARACTERISTICS 4 QUESTION FIVE 5 IT AND THE ACCOUNTING SYSTEM 5 QUESTION SIX 6 BUSINESS STRUCTURES 6 Questions 6 Best business structures 6 QUESTION SEVEN 7 ACCOUNTING EQUATION 7 Question One The role of Business in Society Dilemmas that Hubbard s could face concerning stakeholders by meetingRead MoreA Presentation Of Jena Mines1461 Words   |  6 Pages1.0 Introduction This chapter presents an overview of this research.The presentation is made up of the background of study, statement of the problem, purpose of study, objectives of study, research questions, assumptions, significance of study, limitations and delimitations of study, definition of terms and finally, the summary of the chapter. 1.1 Background to the study Jena Mines (PVT) LTD is a gold mine which is situated in Silobela, Kwekwe and is wholly owned by the Zimbabwe Mining Development