What is an accounting information system? Elucidate the salient features of an accounting...

Question

What is an accounting information system? Elucidate the salient features of an accounting system?
Explain the information needs of different types of user groups in detail.
What are the qualitative characteristics of an accounting information? Explain each such characteristic in detail.
What are the functions of financial accounting? What are its advantages? Explain its limitations.
Distinguish between the management accounting and the financial accounting.

Robert · Accepted Answer

What is an accounting information system? Elucidate the salient features of an 
accounting system? 
Accounting information system is a transaction based informa-tion system which deals 
with financial transactions taking place. The accounting transactions are presented in a 
computer system. 
Features are:- 
1. It is reliable and easy or simple to use. 
2. It caters to the needs of all kinds of users namely internal as well as external
Explain the information needs of different types of user groups in detail. 
1. Investors need information to know whether the company will be able to repay the 
amount invested along with adequate rate of return. 
2.

What is an accounting information system? Elucidate the salient features of an accounting system? Explain the information needs of different types of user groups in detail. What are the qualitative...

Solution

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment