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Systems
Accounting Information
Systems
Accounting information systems
collect and process transaction data
and communicates the financial
information to interested parties.
There are many types of systems
and they vary widely. A number of
factors shape these systems such as
the type of business, the volume of
data management needs and other
factors
Types of Accounting
Systems
Social Accounting also known as Corporate
Social Responsibility Reporting and Sustainable
Accounting, refers to the process of reporting
implications of an organizations activities on it
ecological and social environment. Social
Accounting is primarily reported in the form of
Environmental Reports accompanying the annual
reports of the company. Social accounting is still
in the early stages of development and is
considered to be a response to the growing
environmental consciousness amongst the public
at large
Accounting Software
is an application software that records and
processes accounting transactions within
functional modules such as accounts payable,
accounts receivable, payroll, and trial balance.
It functions as an accounting information
system. It may be developed in-house by the
company or organization using it, may be
purchased from a third party, or may be a
combination of a third-party application
software package with local modifications. It
varies greatly in its complexity and cost.
Non-core modules
Purchase requisitionwhere requests for
purchase orders are made, approved and tracked
Reconciliationcompares records from parties at
both sides of transactions for consistency
Drill down
Journals
Departmental accounting
Support for value added taxation
Calculation of statutory holdback
Types of Accounting
Software
Personal accounting
Personal accounting software is mainly targeted
towards home users, supporting accounts payabletype accounting transactions, managing budgets,
and simple account reconciliation, at the
inexpensive end of the market.
Types of Accounting
Software
Low-end market
At the low-end of the business markets, inexpensive applications
software allows most general business accounting functions to be
performed. Suppliers frequently serve a single national market,
while larger suppliers offer separate solutions in each national
market.
Many of the low end products are characterized by being "singleentry" products, as opposed to double-entry systems seen in
many businesses. Some products have considerable functionality
but are not considered GAAP or IFRS/FASB compliant. Some lowend systems do not have adequate security nor audit trails.
Types of Accounting
Software
Mid-market
The mid-market covers a wide range of business software that may be capable of
serving the needs of multiple national accountancy standards and allow
accounting in multiple currencies.
In addition to general accounting functions, the software may include integrated or
add-on management information systems, and may be oriented towards one or
more markets, for example with integrated or add-on project accounting modules.
Software applications in this market typically include the following features:
[citation needed]
Industry-standard robust databases
Industry-standard reporting tools
Tools for configuring or extending the application (e.g. an SDK), access to program
code.
Types of Accounting
Software
High-end market
Types of Accounting
Software
Vertical market
Some business accounting software is designed for specific
business types. It will include features that are specific to that
industry.
The choice of whether to purchase an industry-specific
application or a general-purpose application is often very
difficult. Concerns over a custom-built application or one
designed for a specific industry include:
Smaller development team
Increased risk of vendor business failing
Reduced availability of support
Types of Accounting
Software
Vertical market
This can be weighed up against:
Less requirement for customization
Reduced implementation costs
Reduced end-user training time and costs
Some important types of vertical accounting software are:
Banking
Construction
Medical
Nonprofit or fund accounting[9]
Point of sale (retail)
Real estate investment trust
Child care management software
Management for Bookselling
Information Technology
Audit
Aninformation technology audit,
orinformation systems audit, is an examination
of the management controls within anInformation
technology(IT) infrastructure. The evaluation of
obtained evidence determines if the information
systems are safeguarding assets, maintainingdata
integrity, and operating effectively to achieve the
organization's goals or objectives.
IT audits are also known as "automated data
processing (ADP) audits" and "computer audits".
They were formerly called "electronic data
processing(EDP) audits".
Computer Audit
Evaluate the Following
Will the organization's computer systems
be available for the business at all times
when required? (known as availability)
Will the information in the systems be
disclosed only to authorized users?
(known as security and confidentiality)
Will the information provided by the
system always be accurate, reliable, and
timely? (measures the integrity)
Fundamental Types of
Controls
Protective/Preventative Controls
Detective Controls
Reactive/Corrective Controls.
IT Audit Process
The following are basic steps in
performing the Information Technology
Audit Process:[4]
1.
2.
3.
4.
5.
Planning
Studying and Evaluating Controls
Testing and Evaluating Controls
Reporting
Follow-up
Professional Certifications
Certified Information Systems Auditor(CISA)
Certified in Risk and Information Systems
Control(CRISC)
Certified Internal Auditor(CIA)
Certification and Accreditation Professional(CAP)
Certified Computer Professional(CCP)
Certified Information Privacy Professional(CIPP)
Certified Information Systems Security
Professional(CISSP)
Certified Information Security Manager(CISM)
Professional Certifications
Certified Public Accountant(CPA)
Certified Internal Controls Auditor(CICA)
Forensics Certified Public
Accountant(FCPA)
Certified Fraud Examiner(CFE)
Chartered Accountant(CA)
Certified Commercial Professional
Accountant(CCPA)
Certified Accounts Executive(CEA)
Professional Certifications
Certified Professional Internal Auditor(CPIA)
Certified Professional Management
Auditor(CPMA)
Chartered Certified Accountant(CCA)
GIAC Certified System & Network
Auditor(GSNA)[
Certified Information Technology
Professional(CITP), to certify, auditors
should have 3 years experience.
Assignment
Research on a company that has
Social Accounting as part of their
financial statement published in
WWW.
Seatwork
Based on your research in Social
Accounting, what do you think is the
most common theme or goal of the
companies in using CSR?
(Not less than 200 words)