Importance Of Accounting Information System

1. INTRODUCTION Data Warehousing is a set of decision support technologies, which allows executives, managers, and analysts to make informed decisions, thereby better and faster. It provides basic planning tools for businessman and his workers organize, understand and use their data to make accurate decisions. Data Warehouse is a database used for analysis and to make reports in a business. It is known to be the database that is maintained individually from the company’s operational database.

CHAPTER 1 1.0 INTRODUCTION Today, managerial accounting plays an important role in many organizations. Managerial accounting is an alternative term for management accounting which defined as the procedure of preparing management accounts that provide precise and timely key financial and statistical information to make day-to-day and short term decisions by the managers in the organizations (BusinessDictionary.com, 2015). A crucial role of managerial accounting is to deliver economic and financial information for managers and other internal users in making decisions as well as add value to an organization. (Siegel, 2015) states that adding value to organization means assisting managers operate the business by providing significant information for business decisions, explaining how the information affects the decision, and participating in the decision making process.

Daw Hla and Susan, Peter Teru Says that Accounting Information System is computer-based application system, and its control and enhance the corporation of an organization. It is Managing an organization and implements the internal control system. The role of accounting information system is a crucial process. The qualitative Characteristic of any accounting information system is maintained by the sound internal control system. The primary function of AIS is assigned the qualitative value of economic events.

Introduction To develop a data warehouse, business requirement is one of the main factors. Business users like executive managers, business analysts require information for business decision and analysis purpose. To analyse or measure a particular fact, business dimensions are required. Suppose to analyse sales of a company, time, product, location, customer demographics are required. Time, product, location, customer demographics are called business dimensions.

Management Information Systems (MIS) Management information systems are combinations of hardware and software systems that are enrolled in an organizations or an enterprise in order to provide the needed information to the management to run the enterprise. Management information systems are used to achieve business goals with a competitive advantage over other businesses.

INTERNAL SCANNING : ORGANIZATIONAL ANALYSIS Core and distinctive competencies Resources are an asset of organization and are thus the basic building blocks of the organization. Its include tangible assets, such as plant, equipment, and location, human assets (the number of employees, their skills and motivation), and intangible assets (such as technology-such as patent and copyright). Capabilities is a corporation’s ability to exploit their available resources.

Question (a) Management accounting is the provisions of financial and non-financial decision making information to managers. According to the Institute of Management Accounting (IMA), management accounting is a profession that involves partnering in management decision making, devising planning and performance management systems, and providing expertise in financial reporting and control to assist management in the formulation and implementation of an organization's strategy. Traditional standard costing is a fundamental method in management accounting practiced today. However, the traditional approaches limit the companies by defining cost behavior in terms of sales volume or production only. Traditional management system has many limitations

Other business service providers, such as procurement service providers, financial services firms, and consultants, are making similar investments to bolster their spend data management capabilities and

Introduction Keeping record of activities and expenditures is crucial in personal finance planning and could really help in managing personal finances. This paper identify what is accounting and how does it help to manage personal finance, describes products of accounting and bookkeeping procedures that are useful in personal financial planning and how personal financial software could assist in personal financial decisions. What is accounting and how does it help you manage your personal finances?

Accounting cycle is the financial process starting with recording business transactions and leading up to the preparation of financial statements. This process demonstrates the purpose of financial accounting to create useful financial information in the form of general purpose financial statements. Beside that, the sole purpose of recording transactions and keeping track of expenses and revenues is turn this data into meaning financial information by presenting it in the form of a balance sheet, income statement, and cash flows. The accounting cycle is a set of steps that are repeated in the same order every period. The culmination of these steps is the preparation of financial statements.