Accounting Information System (AIS) | MYACCOUNTINGINFO.NET

Information Accounting

Accounting Information System (AIS) involves collection, recording and processing financial or accounting information. This information collected and stored are used by the management for their decision making process. Unlike the traditional accounting, AIS follows a computer-based method that tracks the accounting activities in a company with the usage and support of information technology.

Once the information is collected and recorded in the computer system, as and when required, the results of the accounting activities are generated in the form of a report. Managers use these statistical reports for planning and decision making purposes. Statistical reports generated from accounting information system are useful for both internal and external stakeholders. The internal stakeholders like managers can take decision on how to carry out business operations. The external stakeholders like customers, investors, suppliers etc evaluate the financial reports to make their purchase or investment decisions.

The major benefit of accounting information system and its computer based tracking method is that it is automatic. There is no manual entry involved in tracking accounting activities in this accounting system. Thus, there will be no possibilities of any errors. AIS help in advanced data modeling and data mining. The process of accounting information system involves the extraction of data from the database, process the data, and then convert the data summary as information. The internal and external stakeholders to analyse the information access this information. This will enable them to make appropriate decisions.

However, it is required that these reports are generated on time so that the data accessed by the decision makers or managers are relevant, accurate and not outdated. Thus, the analysis made based on the report will be effective. AIS reports ensure consolidation of data so that the managers are not required to go through numerous transactions to interpret the actual financial position of the company. However, for larger organizations, due to large number of daily transactions, the statistical reports generated through AIS may take several numbers of days or couple of weeks. This will be a time consuming process for larger companies. Still, the reports will be accurate and relevant.

Becoming an accountant – know the definition of an accountant

The job of an accountant is one of the most common professions that people choose most of the time, if he or she has studied accountancy and commerce. However, what the job of an accountant is and what tasks he or she has to perform is something that not many students and people know, but they need to know.

What is an accountant?

At first, you need to know the definition of an accountant. An accountant is a professional person, whose task is to perform accounting functions. These functions include auditing tasks as well as analysing financial statements. An accountant must be trained in bookkeeping and also in the preparation of the annual reports, making decisions and planning for financial statements. Advising on tax laws as well as guiding one with proper investment opportunities is also the task of an accountant.

An accountant can be appointed by a large accounting firm or a business company that has its very own accounting department that requires more than one accountant to take care of the accounts and for bookkeeping. If the accountant is not hired by any company or accountancy firm, he or she can also work on his or her own, by managing or taking care of the accounts of different small scale businesses and entrepreneurial initiatives.

Job of an accountant:

If you want to have a safe a secure job profile that will always have a demand in the market, then the profession of an accountant is the best one. However, for that, you will need to have a professional degree in commerce and accountancy studies. You must know the definition of an accountant and what roles an accountant has to perform in his career.

Along with professional degree in accountancy studies and in the field of commerce, you must also start to work under a skilled and established accountancy firm, before aiming high. Once you have gained experience in that field, you will be able to acquire a good job in a reputed firm or in a business company. Experienced and skilled accountants are always in demand and they can get a good deal of salary.


How to become CPA in California? | MYACCOUNTINGINFO.NET

There are five major steps in becoming a CPA in California. The steps are discussed briefly in this write-up.

Steps in becoming a CPA in California
    cpa in california
  1. Get your education in California- The basic education required for opting of the CPA education in California is 150 semester hours of college credit. This is mandatory to opt for the CPA course and license. This is wise to study in a California based university in order to get a smooth entry in the CPA course.

  2. Taking the uniform CPA examination- Once the aspirant has a Bachelors degree and the other requirements as per the guidelines of California Board of Accountancy or CBA, he or she can opt for the uniform CPA examination which is an entrance gateway to the course. The entire syllabi and the course materials are to be thoroughly studied. This is advisable to rehearse with the practice exam papers that will help the aspirants to be well aware of the pattern of the questions in the CPA examination. 

  3. Gaining necessary experience- Once the CPA examination is successfully completed, the required experience is to be gathered by the aspirant to receive the license of CPA in California. This is necessary to complete 12 months of general experience and 500 hours attest experience in order to get the license. 

  4. Getting the California CPA license- After meeting the required educational qualification requirements and after having the desired experience, the aspirant is ready to get the licence. The checklist is as follows:

  5. · Earning a Bachelor’s degree containing a total of 150 semester hours.

    · Your college should mail the official college transcripts to the CBA examination unit.

    · Completing the desired work experience.

    · Submitting a passport size photo of yourself.

    · Submitting the applicable admission fees. 
  6. Staying updated with the professional education- Receiving the license is not the end. You have to keep on updating yourself with the add on courses from time to time in order to keep yourself updated. The new innovations and discoveries will be at your knowledge if you take add-on courses from time to time. 
See Also:
Philippine CPA Board Exam Requirements
How to become a CPA in Canada 
Tips on how to Pass the CPA Board Exam

What are the accounting short course in United State? | MYACCOUNTINGINFO.NET

Accounting is that part of commerce in which the financial information is mandatory to be communicated to the relevant users. The main requirement is the proper communication of financial statements clearly to the end users. However, choosing accounting as your career option can probably lead you to success. 

Aspirants having interest in corporate sector, an ability to analyze the given set of data and aptitude in mathematics can definitely go for accounting short course now being introduced in various countries. Then the aspirants need to communicate all the important information to the managers as well as clients and interpret and compare facts and figures.

Different fields

There are various fields that accounting is divided into. Based on these fields, various accounting courses are offered to the students. The person having interest in the field of management accounting can go for various management courses which basically focus on reporting to the employees and other key persons within an organization. It teaches the person, decision making process in the area of management. The aspirants who seek an interest in the field of financing can opt for financial accounting course in which he or she is taught to deliver information to the outside parties like creditors, banks, shareholders, vendors and financial analysts.

Multiple choices

Based on the individual interest, the suitable accounting short course can be chosen by the candidates. Different colleges, universities and educational institutions offer a wide variety of short courses based on accounting which means that there is some course suiting to the interest of every candidate. This enables the young aspirants to learn and discover new opportunities for their career. Advanced accounting, financial accounting and certificate in financial modeling are three of the sort courses provided to be taken up. Instead of degree or along with it, diploma in accounting courses is also an additional qualification.

In the overall context, taking up accounting courses and making career in business or commerce field is one of the best options that can be chosen. It leads to the students increasing their knowledge at every step and enhancing their existing skills.


What can you do with an accounting degree? | MYACCOUNTINGINFO.NET

Accounting is perhaps one of the lucrative fields where you can build up your career; this profession is preferably fitted to those with high uprightness. The work always demands mathematical aptitude and precision. Accountants often need to work with little to no observance circumference hence they must be self-motivators in nature and who have no indolence in working with numbers. The task can often be repetitive hence you have to keep much patience as your impulsiveness can cause mistake at your performed work which is not desirable at all. 
Benefits of acquiring a degree in accounting

Accountants can build up their career both in public and private sector, or after accumulating experience in this spectrum they can create their own farm. They can choose from bookkeeping, tax, payroll or other accounting services. And who is not aware of the demand of accountants in finance, government, insurance, and manufacturing as well as in company management. Apart from these customary spectrums many choose to travel in order to audit clients’ financial data.
accounting degree
Accountants can specialize in several accounting degree, and they will gain the opportunity of working in various fields. The public accountants are required to work with tax forms, balance sheets and perform external auditing. The cost accountants also known as management accountants organize reports for the managing authority of a business farm. The government accountants keep the financial data for various levels of government. And the internal auditors are entrusted with the task of managing the funds efficiently and properly. In this competitive and complex business environment, accounting degree as well as expertise is in exigency and accounting has become a dynamic career choice. Now, they can attain the esteemed and influential positions of financial experts, management consultants, system professionals, budget analysis and many more.

Over the past two decades the accounting field has been changed drastically to synchronize to the explosive development such as computer revolution, the globalization of business, frequently changed tax law and the unending downsizing and reformation of the business organizations.. Even in today’s unsteady business environment the job opportunities for the accountants have hiked to the full extent both in the private and public sector.

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