What should be included in an information (accounting) system management plan
What should be included in an information (accounting) system management plan
Homework Answers
A management information systems (MIS) needs to let management know how well the company is doing in a particular area. Accounting is a core module to a company, as it relates to its finances, which is the bottom line of what a company needs to excel in.
Therefore, a management information systems, like Enterprise Resource Planning (ERP), could monitor the transactions of a company, from start to finish, and see if there are any bottle necks or unnecessary fees. MIS could also be used for auditing, to see if transactions are being carried out properly. Likewise, a management information system, could be something like an inventory management system, which will check to see how much stock is on-hand at a given time, and update the accounting system accordingly.
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What should be included in an information (accounting) system
management plan
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Should information provided by management and other
non-accounting personnel be assumed accurate or is it the
accountant’s responsibility to investigate each item submitted for
legitimacy?
Question 3
nu le An effective accounting information system has the ability to sort through the millions of things that happen in a company during an accounting cycle and capture only the business transactions that impact the accounting equation. Questions 1. What responsibility or role does the accountant have in this process? 2. Should information...
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