ACC539 Accounting Information Systems Procedia Technology
This subject focuses on the role of information systems in providing support to organisational business processes and decision making. It is designed to provide students with an overview of computerised Accounting Information Systems (AIS), an understanding of the scope and types of different AISs; and some practical skills in using an AIS. The subject also considers information controls and businessprocesses and their impact on the reporting of accounting information.
Learning outcomes
Be able to understand and apply foundation principles relating to computerised information systems in contemporary organisations;
Be able to explain the role of data analysis tools and data mining;
Be able to illustrate typical network configurations and identify the components of a network;
Be able to evaluate accounting information system architecture and generate models of
Be able to identify organisational risk and generate systems that control that risk;
Be able to analyse, synthesise and apply the concepts underpinning systems planning development and implementation.
- Define and explain the differences between a cloud based accounting system and a traditional accounting system
- Identify potential risks or limitations in adopting a cloud based accounting system
- Based on your findings make a recommendation outlining which size and type of businesses would benefit from moving to a cloud based AIS.
Answer:
Introduction
As per Collier (2015), the progression of gathering, storing as well as continuing data and information regarding both fiscal and accounting factors is popularly named as Accounting Information System. In the field of accounting, the particular system is also called as AIS. Opined to Li & Bai (2014), this accounting system plays a vital role for the decision makers as the implementation of AIS helps in taking any kind of decision regarding the regulation of the business. It has been found that the AIS is chiefly operated by the assistance of computers and not manually.
Defining the Cloud Based Accounting Method
The transactions that take place by the assistance of computer system and internet are termed as cloud based accounting method. This method is not concerned with implementation of any software inside the computers for regulating the cloud based accounting method successfully (Stair & Reynolds, 2015). In addition to these, based on the detailed study, it can be said that the companies involved in vend of cloud computing, they generally deal with various kinds of services related to accounting services and proffer numerous secluded servers and principles.
Defining the Traditional Accounting Method
As rightly put forwarded by Liu (2014), the traditional method of accounting is depicted as the giving out of overhead expenditures of the goods that are manufactured. The process of traditional accounting is also well-known as “Conventional Accounting Method”. It has been found that here the indirect expenditures are deal out in perspective of the factory expenditures for assembling the products depending on its magnitude.
Comparison between Method of Traditional Accounting and Method of Cloud Based Accounting
The foremost divergences between the method of traditional accounting and the method of cloud based accounting are as follows:
|
Cloud Based Accounting Method |
Traditional Accounting Method |
|
The method of cloud based accounting has both low operational expenses and inferior upfront expenses. |
The method of traditional accounting has both high operating costs and upfront costs |
|
The method of cloud based accounting mainly puts highlight on the competencies (core). |
On the other hand, the method of traditional accounting does not put focus on the competencies (core). |
|
Moreover, the method of cloud based accounting system has simple admission to the complicated technology. |
On the contrary, the method of traditional accounting does not have an easy admission to the complicated technology. |
|
The essential demerit of integration of the method of cloud based accounting in an organization is counted as a huge contribution cost (Belfo & Trigo, 2013). |
However, the expenditures such as contribution cost are missing in case of the method of traditional accounting. |
|
In addition to these, it has been detected that in case of the method of cloud based accounting, there is presence of numerous performance risks and security risks. |
Nonetheless, it has been noted that the method of traditional accounting does not has any kind of security risks and performance risks (Dr?gulescu & Ilie, 2014). |
|
The other supplementary risks that are associated with the method of cloud based accounting involve tactical and observance risks. |
For the method of traditional accounting, there is absence of any type of tactical and observance risks. |
Disadvantages of Integrating the Method of Cloud Based Accounting
The most important demerits of integrating the method of cloud based accounting within a company are as follows:
- The specified method of cloud based accounting have numerous risks that might affect operations of any business and these involve – strategic risks, safety risks, performance risks and acquiescence risks.
- Moreover, it has been identified that the expenditure of integrating the system of cloud based accounting within a company are elevated, as this involves various costs, such as - the contribution expenses (Liu, 2014).
- Furthermore, the specified method of accounting has several SLA issues.
- Lastly, the particular method of cloud based accounting have certain limitations concerning its customization, functionality, approach of amalgam utilization and amalgamation.
Conclusion
As a result, it can be concluded that the method of cloud based accounting and the method of traditional accounting have both pros and cons. Therefore, it is an important factor that every firm should integrate an appropriate method of accounting depending on the nature and the size of a particular business. Moreover, depending on the detailed study, it can be suggested that a specified firm that possesses comparatively small budget should integrate the method of cloud based accounting. Additionally, the organization that have staffs who work distantly and the workplace that is incapable to offer with plenty safety and also intends to flee from probable considerable disasters with the help of technology can also integrate the method of cloud based accounting.
References
Belfo, F., & Trigo, A. (2013). Accounting information systems: Tradition and future directions. Procedia Technology, 9, 536-546.
Collier, P. M. (2015). Accounting for managers: Interpreting accounting information for decision making. John Wiley & Sons.
Dr?gulescu, R., & Ilie, A. M. (2014). Accounting modeling–a multiple determination approach. Procedia-Social and Behavioral Sciences, 109, 1064-1068.
Li, Z. W., & Bai, D. (2014). Research on accounting decision support system based on data warehouse and data mining. In Advanced Materials Research (Vol. 989, pp. 4819-4822). Trans Tech Publications.
Liu, C. L. (2014). Cloud service access control system based on ontologies. Advances in Engineering Software, 69, 26-36.
Stair, R., & Reynolds, G. (2015). Fundamentals of information systems. Cengage Learning.
Buy ACC539 Accounting Information Systems Procedia Technology Answers Online
Talk to our expert to get the help with ACC539 Accounting Information Systems Procedia Technology Answers to complete your assessment on time and boost your grades now
The main aim/motive of the management assignment help services is to get connect with a greater number of students, and effectively help, and support them in getting completing their assignments the students also get find this a wonderful opportunity where they could effectively learn more about their topics, as the experts also have the best team members with them in which all the members effectively support each other to get complete their diploma assignments. They complete the assessments of the students in an appropriate manner and deliver them back to the students before the due date of the assignment so that the students could timely submit this, and can score higher marks. The experts of the assignment help services at urgenthomework.com are so much skilled, capable, talented, and experienced in their field of programming homework help writing assignments, so, for this, they can effectively write the best economics assignment help services.
