Accounting Information Systems

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Accounting systems are used in a modern business environment not only as a standartisation tool for the financial data, but more importantly, as an information source for decision-making processes


Obviously, this new function of accounting emerged in the second half of the 20th century has required new approaches to be developed. Eventually, the analysis of financial data has become more sophisticated, development of IT industry has allowed more complex techniques to be used and the variety of management/accounting information systems (M/AIS) has become so great that accountants themselves have lost their tracks in the growing complexity of automated solutions developed for their use.

Nowadays companies have to follow certain principles, called implementation strategy, when choosing the approach they need for information management. First of all, the need for new information system has to be based on the real need caused by a real problem a company is facing. Naturally, the transition of a company from one M/AIS to another is a difficult process that requires time and money, so the motives for the planned changes should be reasonable. For instance, current IS may provide insufficient or inaccurate data for stakeholders, may be to costly and excessive to use, or lack security. Thus, the first important step on the path of implementation new M/AIS is the realisation of the need for its change.
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