Accounting Information Systems Lecture 08

These flashcards cover the key concepts and functionalities of Accounting Information Systems as discussed in the lecture.

What defines a vanilla version of accounting software?

A vanilla version is generic, not customized, containing common account titles and functionalities applicable to any type of business.

What is a customized version of accounting software?

A customized version is tailored to meet the specific requirements and needs of a user or organization, enhancing functionalities based on user requests.

What requirements does the Bureau of Internal Revenue (BIR) have for a Computerized Accounting System (CAS)?

CAS must have the capability to interface with the BIR system for online submission of financial statements, tax returns, tax mapping, and monitoring.

What is one of the most common functionalities of an accounting information system?

The capability to interface with other application systems and convert system-generated reports to formats like Excel or PDF.

How can an accounting information system assist various departments in a company?

It helps departments work together by enabling management to establish sales goals and notify the accounting department of new payables.

What are some examples of data generated by an Accounting Information System?

Sales orders, customer billing statements, inventory data, payroll information, and tax information.

What key components ensure the effectiveness of an Accounting Information System?

Quality, reliability, and security are essential components.

What does reliability pertain to in an Accounting Information System?

Reliability concerns the accuracy of processed information, such as correctness of journal entries and financial statements.

What security feature is commonly desired in software systems?

The capability to detect weak passwords and require the change of default passwords upon initial access.