Creating an Accounting Information System

Creating an Accounting Information System
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Creating an Accounting Information System
The main goal in establishing an excellent accounting information system is a collection of data, processing the data and finally come up with well-researched reports (Eastburn & Boland, 2015). This gives the management the best options to use in the production of timely decisions. Since information is necessary for setting up a business, it is therefore essential for the management to uphold basic understanding of accounting information system. This essay will expound on some principles engaged in setting up an excellent accounting information system.
Control
This principle states the entire accounting information system must be based on excellent internal controls. The internal controls refer to the set procedures and practices that are used in monitoring and controlling the business progress. Such practices include systems password control, monthly bank account information and securing of confidential business information. This kind of control to the internal business information safeguards the integrity of the information or the data being processed in the information system.
Relevance
In business, it is important for the information to be produced in timely intervals. Moreover, the produced information must be useful and easily understood by the relevant personnel. The accounting department is characterized by storing financial information at differ…