2) AIS Overview

Question 1

What is an accoutning information system?

Answer 1

An Accounting Information System is a structured set of procedures, processes, and technologies designed to collect, process, store,
and disseminate financial information for internal and external stakeholders.

Question 2

AIS ______________ business processes

Answer 2

streamlines

Question 3

What are the adavantages of AIS systems? (6)

Answer 3

1) Data security
2) Enchanced internal communication
3) Cost minimization
4) Time Conservation
5) Increased accessibility
6) Higher data accuracy

Question 4

What are the types of AIS systems? (3)

Answer 4

1) General ledger/fianancial reporting systems
2) Transaction Processing systems
3) Management reporting systems

Question 5

What are the best accounting information systems in 2024?

Answer 5

Question 6

What are the components of AIS system? (6)

Answer 6

• People
• Data
• Information Systems Infrastructure
• Software
• Established procedures
• Internal Controls

Question 7

Who are internal users of AIS systems? (2)

Answer 7

• Employees [Accounting Teams,
  Compliance Teams]
• Business Owners

Question 8

Who are the external users of AIS systems? (3)

Answer 8

• Investors
• Creditors
• Customers

Question 9

What are the interactions between AIS and internal and external parties?

Answer 9

Question 10

Explain how to determine the value of information in AIS systems? (3)

Answer 10

• Understandable
• Verifiable
• accessible

Question 11

What are the reliability factors of AIS while handling accouting information? (5)

Answer 11

• Confidentiality
• Privacy
• Process integrity
• Security
• Availability

Question 12

What does cloud accouting refer to?

Answer 12

Cloud accounting refers to the
use of accounting software and
related financial applications that
are hosted on remote servers and
accessed through the internet.

Question 13

What does cloud based accouting information sysytems refer to?

Answer 13

Cloud-based accounting information systems (CBAIS) allow businesses to use third-party hosting of IT resources and applications through virtual means

Question 14

What are the advantages of cloud accouting? (5)

Answer 14

• Real-time access to
  financial data
• Process automation
• Accounting team
  collaboration
• Improved information
  reliability and accuracy
• Reduced systems
  downtime

Question 15

What are the challenges with cloud computing? (11)

Answer 15

• Security and privacy
• Managing cloud spending
• Lack of resource expertise
• Governance and control
• Compliance
• Managing multiple clouds
• Avaliability reliability
• Interoperability
• Service quality
• Portability
• Building a private cloud computing performance