Accounting Management System (AMS) WMES 3104 Maizatul Akmar Ismail.

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Accounting Management System (AMS) WMES 3104 Maizatul Akmar Ismail

Course Details: Course Evaluation: 50% coursework, 50% final exam Consist of : Test (20%), Assignment(10%), Project(20%), Final Exam (50%)

ICEBREAKING Discuss from your point of view : 1.What is Accounting? 2.What is Accounting Information System (AIS)?

Accounting is the process of recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision- making. The function of accounting, to an entity [organization] and to society as a whole, is to provide certain types of quantitative information that management and others can use to make decisions. To provide relevant information, accountants must have a thorough understanding of the principles and rules that provide the basis for preparing the accounting information. In addition, accountants must develop a system to make sure the entity’s economic events are properly recorded on a timely basis and at a reasonable cost.

Definition of Accounting “The process of identifying, measuring, and communicating economic information to permit informed judgements and decisions by users of the information.” —American Accounting Association (AAA)

What is an AIS? A system is a set of 2 or more interrelated components that interact to achieve a goal. 5 component of AIS: 1.People 2.Procedures 3.Data 4.Software 5.IT infrastructure

Why Study The AIS? Effective AIS is essential to any organization’s long-run success. Monitoring the events that occur in organization is important to determine how well the organization is performing

3 Basic Functions of AIS 1.Collecting and processing data about the organization business activities efficiently and effectively 2.Providing information useful for decision making 3.Establishing adequate controls to ensure that data about business activities are recorded and processed accurately and to safeguard both that data and other organizational assets