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Learning Objectives Describe Accounting Information System (AIS) Discuss how an AIS can add value to an organization Identify basic transaction (data) processing cycles Explain an integrated information system (ERP system) System A set of two or more interrelated components interacting to achieve a goal Goal Conflict Occurs when components act in their own interest without regard for overall goal Goal Congruence Occurs when components acting in their own interest contribute toward overall goal
Vũ Quốc Thông 2/13/2016 HO CHI MINH CITY OPEN UNIVERSITY ACCOUNTING – AUDITING FACULTY ACCOUNTING INFORMATION SYSTEM OVERVIEW OF TRANSACTION PROCESSING AND INTEGRATED INFORMATION SYSTEM Lecturer: Vũ Quốc Thông Chapter 1-A Learning Objectives Describe Accounting Information System (AIS) Discuss how an AIS can add value to an organization Identify basic transaction (data) processing cycles Explain an integrated information system (ERP system) 1-2 Vũ Quốc Thông 2/13/2016 Accounting Information System (AIS) 1-3 What Is a System? System A set of two or more interrelated components interacting to achieve a goal E.g.? Goal Conflict Occurs when components act in their own interest without regard for overall goal Goal Congruence Occurs when components acting in their own interest contribute toward overall goal 1-4 Vũ Quốc Thông 2/13/2016 Data vs Information Data are facts that are recorded and stored Insufficient for decision making Information is processed data used in decision making Too much information however, will make it more, not less, difficult to make decisions This is known as Information Overload Information 1-5 Accounting Information System An Information System: Collect, process, store financial data and report financial information If Accounting = language of business AIS = information providing vehicle 1-6 Vũ Quốc Thông 2/13/2016 Components of an AIS People using the system Picture? Procedures and Instructions For collecting, processing, and storing data Organizing Data Software Information Technology (IT) Infrastructure / Hardware Computers, peripherals, networks, and so on Internal Control and Security Safeguard the system and its data 1-7 Accounting Information System ? ? DATA (e.g ?) INFORM ATION (e.g ?) ? ? ? 1-8 Vũ Quốc Thông 2/13/2016 Analyze… C B A ? ? ? ? ? ? ? ? 1-9 AIS and Business Functions Collect and store data about organizational: Activities, resources, and personnel Transform data into information enabling Management to: Plan, execute, control, and evaluate Activities, resources, and personnel Provide adequate control to safeguard Assets and data 1-10 Vũ Quốc Thông 2/13/2016 How an AIS can add value to an organization 1-11 How an AIS can add value … A well-designed AIS can add value to an organization… 1-12 Vũ Quốc Thông 2/13/2016 AIS Value Add Improve Quality and Reduce Costs Improve Efficiency Improve Sharing Knowledge Improve Internal Control Improve Decision Making Improve Supply Chain 1-13 Improve Decision Making Identify situations that require action Provide alternative choices Reduce uncertainty Provide feedback on previous decisions Provide accurate and timely information 1-14 Vũ Quốc Thông 2/13/2016 Value Chain The set of activities a product or service moves along before as output it is sold to a customer At each activity the product or service gains value Inbound Logistics Operations Outbound Logistics Marketing/ Sales Service 1-15 Value Chain 1-16 Vũ Quốc Thông 2/13/2016 Basic transaction processing cycles 1-17 Transaction processing cycles Systems working toward organizational goals Financing Enterprise Revenue Human Resources Expenditure Production 1-18 Vũ Quốc Thông 2/13/2016 Business Process Cycles Revenue Expenditure Production Human Resources Financing 1-19 Business Process Cycles (cont.) Give–Get exchanges Between two entities Measured in economic terms Identify Give-Get rule in each business process cycle? 1-20 10 Vũ Quốc Thông 2/13/2016 Business Cycle Give–Get 1-21 An integrated information system (ERP system) 1-22 11 Vũ Quốc Thông 2/13/2016 ERP Systems Integrated information system Enterprise Resource Planning (ERP) system Accounting cycle = central system 2-23 Enterprise Resource Planning (ERP) Integrate an organization’s information into … an overall / extensible AIS ERP modules: Accounting / Financial Human resources and payroll Order to cash (Sales cycle) Purchase to pay (Purchase cycle) Manufacturing (Conversion cycle) Project management Customer relationship management … 1-24 12 Vũ Quốc Thông 2/13/2016 ERP Advantages Integration of an organization’s data and financial information Data is captured once (centralized database) Greater management visibility, increased monitoring Better access controls Standardizes business operating procedures Improved customer service More efficient manufacturing 1-25 ERP Disadvantages Cost Time-consuming to implement Changes to an organization’s existing business processes can be disruptive Complex Resistance to change 1-26 13 Vũ Quốc Thông 2/13/2016 More on reading and practice Reading on textbook Chapter (p 30 – 32) Chapter (p 55 – 58) Doing homework on paper Discussion questions Question 1.4 (p 37) Question 2.1 and 2.5 (p 60) Chapter quiz (focus on relevant parts of the lecture) Quiz of chapter (p.36) Quiz of chapter (p 59, 60) 1-27 14 ... An integrated information system (ERP system) 1-22 11 Vũ Quốc Thông 2/13/2016 ERP Systems Integrated information system Enterprise Resource Planning (ERP) system Accounting cycle = central system. .. decisions This is known as Information Overload Information 1-5 Accounting Information System An Information System: Collect, process, store financial data and report financial information If Accounting... language of business AIS = information providing vehicle 1-6 Vũ Quốc Thông 2/13/2016 Components of an AIS People using the system Picture? Procedures and Instructions For collecting, processing,