wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

What are the functions of an Accounting Information System?

Open in App
Solution

Functions of an Accounting Information System (AIS) are as follows

(i) The first function of an AIS is the efficient and effective collection and storage of data concerning an organisation's financial activities.
Also getting the transaction data from source documents, recording the transactions in the journal, and posting data from journal to ledger.

(ii) The second function of an AIS is to supply information useful for making decisions, including producing managerial reports, and financial statements.

(iii) The third function of an AIS is to make sure that controls are in place to accurately record and process data.


flag
Suggest Corrections
thumbs-up
3
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Introduction
ACCOUNTANCY
Watch in App
Join BYJU'S Learning Program
CrossIcon