ACCOUNTING INFORMATION SYSTEM By nowMASTER Accounting
Accounting information system
May 24, 2015
Describing the basic accounting information system involving the inputs, processes and the outputs.
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- 1. Accounting information system
By nowMASTER Accounting
2. The accounting information system is a set of input,
processing and output procedures designed to provide the financial
information required by stakeholders of a business.
3. The inputs are the source documents that evidence the financial
transactions of the business. Source documents are typically
invoices, receipts, deposit slips, cheque butts, authorized
memos.
4. The process used in the accounting information system is
double-entry bookkeeping. This ensures that transactions are
recorded in journals in chronological order and posted to ledgers
that sort the transactions into account type order.
5. The accounting process then delivers outputs in the form of
financial statements that give a view of the financial position and
performance of the business. The two key financial statements are
the Income Statement and the Balance Sheet.
6. For more information click on the link
http://knol.google.com/k/basic-accounting-concepts#
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