AC114 Unit 7 Discussion Creating an Accounting Information System
Topic 1: Creating an Accounting Information System
You are the CEO of a newly incorporated retail firm that will sell DKNY® and Tommy Hilfiger® along with other designer clothing. Your job is to set up an accounting information system to maintain appropriate records needed in the eventual preparation of financial statements. Certain principles should be followed in the development of an accounting information system. Identify and explain each of the principles.
AC114 Unit 7 Discussion Creating an Accounting Information System Answer
The Accounting Information System has required that the benefits of information must outweigh the costs of providing it. It could be cheaper and more cost-effective to pay employees to provide manual computations. the useful output information must be understandable, relevant, reliable, and accurate. A company may choose to use various systems for their documentation it has to be understandable to someone else for example an auditor who is checking the books………..
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