Impact Of Information Systems On Accounting

Accounting Information System Introduction The pace at which the environment is changing has led the business organisations to change. Today the economy of the world has become information savvy. Businesses are adopting new technology and innovative ideas so as to work effectively and efficiently. In todays IT centric world, organization can neither operate nor can survive without information technology. There is a need of Information technology in every organisation. The organisations are using information system for accounting purpose instead of paper and pen which was used initially. Accounting Information system is a combination of accounts and information technology. An Accounting Information system is a collection of data and procedures that creates needed information for its users. Accounting Information system is now applicable to financial accounting, managerial accounting, auditing and taxation. Organizations are adopting Accounting Information System as it makes accounting simpler, quicker and accurate. Accounting information system helps in saving the time of the employees and it also helps in avoiding the mistakes. All the accounting transactions are entered in the computer and are computed. Accounting Information system is process focused. How information systems are changing various aspects of the accounting profession Information system has affected all aspects of Accounting