Accounting Information System is an Information Technology System - Accounting and Finance Assignment Help

Assignment Task:

Task:

Introduction:
Accounting information system is an information technology system which is used in organizations to collect, store and process the financial data and accounting data of an organization in order to manage the records and make a decision. It is basically prepared to track the performance of the business with less chances of error. It helps an organization to settle all the accounting records and prepare financial statement so that the stakeholders of the business could evaluate on the basis of their grounds and make a better decision. A proper accounting information system in an organization makes it quite easier for the organization to boost the performance and motivate the management to get better reports to make decision.

In the report, Adam and co’s case study has been studied and importance of accounting information system in an organization has been understood. Adam and co is a wholesaler company which basically imports the goods from different countries and it is basically situated in the market of Perth. All the process of the company is controlled and managed by different departments such as purchase system, payroll system, cash management system etc.

Purchase system:
Adam and co’s purchase system has been programmed in such as way that the total quantity ordered along with the worth of the product could be identified at one go and it becomes easier for the management to decide the sale price of the business. In order to prepare a purchase system, below flow chart has been made:

The flowchart given above explains that how Adam and co checks the entire purcahse system and recah over a concusion till the cash disbursement system. It epxlains the entre process through which the purchase system of the company goes through. It starts with the stock purchase of the company. It is the major suty of the purcahsing department to check the stock availability and the receipt of the stock to identify the recorded check and the price of the stock available. After receiving the order, it becomes importnat for the business to cross check the goods and process to the vendor machine.

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