ACCY 317: Accounting Information Systems Assignment Sample NZ

Accounting Information Systems (AIS) is the process of recording, classifying, and summarizing financial transactions to provide information that is useful in making business decisions. When it comes to AIS, there are a lot of different aspects to consider. In this assignment, you will be required to research and analyze a publicly-traded company’s financial statements from their annual report. You will then need to create an original excel spreadsheet that calculates several key ratios for the company.

The most important ratios to calculate are liquidity, solvency, and profitability ratios. Liquidity ratios measure a company’s ability to meet its short-term obligations. Solvency ratios measure a company’s ability to pay back its long-term liabilities. And profitability ratios measure how efficiently a company is using its assets to generate profits.

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Get Individual Assignment Sample for (ACCY 317) Accounting Information Systems Module

Students who successfully complete this course will have the knowledge and skills needed to be professional writers. Here, we are describing some activities. These are:

Assignment Activity 1: Appreciate the purpose, function, and implications of accounting information systems within an organization

The three primary outputs of accounting systems are financial statements, and economic patrimony reports, and the balance sheet. The purpose is to provide objective information for making managerial decisions. Accounting also provides information about transactions to an organization’s stakeholders including taxing authorities, shareholders, trade creditors, employees/retirees (including benefits), suppliers (credit terms), opponents (monetary damages), state agencies, customers, or clients. Financial statements provide a quantitative account that is understandable through numbers and numbers only to readers with specialized knowledge in accounting who might not understand what an item like depreciation really entails.

Financial statements demonstrate how profitable or unprofitable the business has been over certain periods of time indicated by dates on which they were prepared without giving too many details about the company. Economic patrimony reports show a company’s virtues and how it stands as a business. The balance sheet shows a company’s assets, liabilities, and owners’ equity at a specific point in time without going too much into detail.

Assignment Activity 2: Appreciate AIS developments in respect of both business and the wider context of society

There has been a lot of development in the area of AIS in recent years, and both businesses and the wider context have benefited greatly. In terms of businesses, AIS has allowed for significant improvements in efficiency and effectiveness. This is thanks to the ability to collect and analyze large amounts of data quickly and effectively.

From a wider perspective, AIS has had a huge impact on areas such as healthcare, finance, transportation, and manufacturing. Some notable examples include the following:

• In healthcare, AIS has been used to improve diagnosis accuracy and treatment plans. Additionally, it has been used to help prevent disease outbreaks.
• In finance, AIS has helped reduce fraud and improve risk management. It has also helped financial institutions monitor their customers’ activities more closely.
• In transportation, AIS has allowed for improved traffic flow and reduced auto accidents. It also allows companies to accurately track the location of their vehicles.
• Finally, in manufacturing AIS is used to increase factory productivity while minimizing waste and energy consumption. There are even environmentally-friendly factories that use AIS to create smart systems designed to meet all of their energy needs.

Assignment Activity 3: Understand the roles undertaken by accountants with respect to accounting information systems

There are a number of different roles that accountants play in relation to AIS. Some of these include the following:

Designers: Accountants are responsible for designing and implementing accounting information systems. This includes selecting the appropriate software, setting up the system, and training employees on how to use it.

Users: Accountants also use accounting information systems in order to perform their jobs. For example, a tax accountant might use an accounting information system to prepare taxes on his or her clients’ behalf.

Consultants: Accountants also serve as consultants for other businesses that need help with AIS. They might advise on all aspects of the system from design and implementation to training employees on how to use it.

Auditors: Finally, accountants also play the role of auditors. They are responsible for ensuring that accounting information systems are effective and accurate. They also verify that financial statements are in compliance with Generally Accepted Accounting Principles (GAAP).

Assignment Activity 4: Assess and evaluate the risks associated with accounting information systems and design and evaluate control practices to manage those risks

There are a number of different risks associated with AIS. Some of these include having large quantities of data compromised due to human error or cyber-attacks, the misuse of sensitive information, and errors caused by records that do not match up (which can be caused by AIS itself).

To manage these risks, accountants implement control practices such as having a firewall and backing up data. They also train employees on AIS security procedures and monitor activity to ensure that users are following the rules. Additionally, they use software that helps to identify and correct errors. By using a combination of these controls, accountants can help ensure the safety and accuracy of accounting information systems.

Assignment Activity 5: Appreciate the standard practices required to develop, implement and maintain an accounting information system, including the various information technologies commonly adopted within them

There are a few key steps that are typically taken in order to develop, implement, and maintain an effective quality management system (QMS).

First and foremost, it’s important to have a clear understanding of the organization’s goals and objectives. This will help to ensure that the QMS is tailored to meet the specific needs of the organization. Once the goals and objectives have been established, it’s important to identify and document the specific processes and procedures that will be used to achieve them.

Once the processes have been identified, it’s critical to establish control measures that will be used to ensure that they are followed consistently. And finally, it’s important to regularly review and update the QMS as needed in order to ensure that it continues to meet the changing needs of the organization.

Assignment Activity 6: Appreciate the impact of c-business technologies on accounting information systems

There are a number of different technologies that can be used in c-business. Some of these include the following:

E-commerce: E-commerce is the buying and selling of goods and services over the internet. This technology has had a major impact on accounting information systems, as it has allowed businesses to conduct transactions electronically.

Cloud computing: Cloud computing is a method of delivering data and applications over the internet using web-based tools. This technology has reduced costs as well as allowed employees to work remotely from anywhere in the world.

Social media: Social media sites such as Facebook and Twitter have been used to develop relationships with customers, suppliers, vendors, and industry experts. Sites like these have also allowed businesses to communicate with their employees more effectively

Mobile devices: Mobile devices such as smartphones and tablets have given companies the ability to be more efficient when it comes to record-keeping, inventory management, collaboration, communication, financial planning, etc.

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