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GROUP ONE AIS PRESENTATION

GROUP ONE AIS PRESENTATION. MARCIA FOYA C1111760G SHAMISO ZVITARE C1111283N LEONA MAFUME C1111310S BETTY CHISVO C1110905C DIONNE MADAKA C1111247Z LOVEWELL MACHINGAUTA C1111086Z LAWRENCE SAMUNGWEME C1110968W TENDAI MANHANDO C1111326K TINASHE CHIGORA C1111632S PRISCILLA RUHINGA

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GROUP ONE AIS PRESENTATION

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  1. GROUP ONE AIS PRESENTATION

    MARCIA FOYA C1111760G SHAMISO ZVITARE C1111283N LEONA MAFUME C1111310S BETTY CHISVO C1110905C DIONNE MADAKA C1111247Z LOVEWELL MACHINGAUTA C1111086Z LAWRENCE SAMUNGWEME C1110968W TENDAI MANHANDO C1111326K TINASHE CHIGORA C1111632S PRISCILLA RUHINGA C1111659X
  2. Users of AIS and their needs and demand INTERNAL USERS Management They use the information for planning that is the development of short term and long term plans Supervisors Controlling activities that involve motivating employees and evaluation of people and other resources within the organisation
  3. Internal users 3.Internal auditors They use the information that enables to access operational and internal controls . 4 employees They use the information in order to carryout their daily duties.
  4. External users Tax accountants must understand the client’s AIS adequately to be confident that it is providing complete and accurate information for tax planning and compliance work. Potential investors They want information that will enable them to access the feasibility of investing their funds in a particular entity or to withdraw their funds and invest it else where. Information can be obtained from the SOFP, SOCI and SOCE
  5. External users Creditors They want to access the ability of the company to settle its debts. Debtors They are mainly concerned about the going concern of a company This will assure them if the company is able to supply them with raw materials in the future(continued business).
  6. Definition of Accounting Information System According to Wilkinson (2005), it is a unified structure within an entity, such as a business firm that employs physical resources and other components to transform economic data into accounting information with the purpose of satisfying the information needs of a variety of users. Hurt (2000), defined it as a set of interrelated activities, documents and technologies designed to collect data process it and report information to a diverse group of internal and external decision makers.
  7. Definition of Management Information System Wilkinson (2005), describes it as a software system and set of set of business processes that are used to pull together information and tactical systems. It converts data from mainly internal source that is within the organisation into information for instance summary reports and exception reports.
  8. Differences between AIS and MIS AIS MIS is concerned about day to day running of the business with subsystems such as Transaction Processing System (TPS). MIS is mainly used for strategic planning which involves identifying a company’s long run goal and developing plans for achieving these goals.
  9. Differences between AIS and MIS AIS MIS records financial transactions which are economic events that affect assets and equities of a firm and is measured in monetary terms for instance sale of goods to customers cash movements etc. goes beyond AIS in that it records financial transactions and non-financial transactions.
  10. Differences between AIS and MIS AIS MIS provides information for internal and external use. MIS principally provides information to internal parties.
  11. Differences between AIS and MIS AIS MIS AIS is used as a tool for short term decision making. It uses historical data. MIS gives data for long term decision making and control. MIS is futuristic that is decisions are made based on projections.
  12. Differences between AIS and MIS AIS MIS supports stewardship management with information contained in the financial statements and responsibility report. Information is about how resources are utilised and safeguarded. MIS is used as a yardstick for measuring performance. Managers make future projections and hence actual results are compared with the projections made.
  13. Differences between AIS and MIS AIS MIS provide information that conforms to Generally Accepted Accounting Principles (GAAP). Albright (2006) goes on to say it is produced in a variety of formats that meet the particular information needs of a company’s managers.
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