Discuss the importance of accounting independence in accounting information systems. Give an example of where this concept is important

Q: Answer co

A: Error of ommission are those errors which are completely ommited to be recorded in the books of…

Q: What are some of the accounting information costs? What are some advantages of accounting data?…

A: The answer:

Q: Which of the following is not a component of an accounting system?   the input source documents…

A: The Components of an accounting system is : The Input source documents The output reports.

Q: two methods of acquiring accounting information sysytem, and list there disdvantages and advantages

A: Accounting information systems is a system of collection, processing and storage of accounting and…

Q: What is the rationale behind the Financial Accounting Standards Board's classification of accounting…

A: Introduction

Q: What is forensic accounting? How Accounting Information System is used to achieve this?

A: Forensic accounting is investigation over financial statements, accounting records, and other notes…

Q: information would include ........ .

A: External users are people outsidebusiness entity who use accounting information.external users are…

Q: s an information syste

A: Accounting Information Systems helps to perform the tasks in the job of Budget Analysis. An…

Q: Which of the following statements is the best definition of an accounting information system? A. A…

A: It is a systems used for collecting, storing, managing, processing, retrieving and reporting of…

Q: Explain the costbenefits principles and how this affects the reliability and relevance of the…

A: Relevance refers to the concept or an idea that whatever information that is provided by the…

Q: examples of decisions that can be supported by accounting information

A: Accounting information represents the financial information about the company which is useful for…

Q: How do you define an accounting information system and what are its components? Give an example.

A: Introduction: The journal book will have a chronological record of all transactions in the…

Q: Which of the following are considered secondary characteristics of accounting information? a.…

A: Secondary Qualitative Characteristics of accounting information is how useful the information is.…

Q: What is the relevance of the Accounting Information System in the present practice of accounting?

A: Accounting Information System: An accounting information system (AIS) is a framework that a company…

Q: discuss the importance of accounting interdependence in accounting information systems.

A: An Accounting Information System is a system that is used  to collect, process, manage data with…

Q: Evaluate the importance of accounting for accounting information users.

A: 1. Management 2. Shareholders 3. Creditors 4. Lender 5. Government & Regulators 6. Employees

Q: In you own understanding, discuss briefly the salient features of accounting models such as Entity…

A: Accounting concepts are basic rules , assumptions and conditions that…

Q: Which of the following are the fundamental characteristics of accounting information? O a.…

A: The fundamental qualities of Accounting Information are Relevance and Faithful Representation.…

Q: What is accounting information system and what is its components and explain.

A: All the transactions in the company will be recorded in the journal book in a chronological manner.…

Q: Why is accounting referred to be an information system? Explain with an example from your own point…

A: Information system is a system which is designed to collect, store and process information for the…

Q: Discuss about the accounting policies, selection, relevance, reliability, faithful representation…

A: Accounting policies are specific principle procedures and measures that are used to record,…

Q: Accounting independence in accounting information system is important. Discuss using examples.

A: Accounting Information System:  A system which collects, stores and gathers information about…

Q: What does an effective accounting information system provide?

A: Accounting Information Systems:

Q: Financial accounting information can be used for internal reporting purposes.

A: The costs involve the fixed cost and variable cost in the production process of the company.

Q: Discuss the significance of accounting systems in generating reliable accounting information…

A: Information systems are very important for the generation of quality accounting information on a…

Q: Identify the qualitative characteristics of accounting information.

A: Definition: Users of financial information: People who rely on accounting information to make the…

Q: Briefly explain the importance of independence of the accounting function in Accounting Information…

A: Accounting Information System: The system which helps to gather, store and process the accounting…

Q: Which is preferable: implementing a manual accounting information system or implementing a…

A: Manual accounting information system - These are the accounting system in which all the task of…

Q: what is accounting information system (AIS)? List and discuss the three sub system of AIS  and…

A: Accounting Information System (AIS) is a one part(subset) of the Management Information System.

Q: Illustrate the importance of the flow of information in accounting?

A: The importance of flow of information in accounting is of very high significance. The information…

Q: Describe briefly the following characteristics of useful accounting information.  Comparability…

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: Explain why there is a trade-off between information accuracy and information timeliness. Give an…

A: Accounting Information System (AIS): The accounting information system is a system that collects,…

Q: Examples of Accounting Information System

A: Accounting Information Systems help in the completion of duties related to budget analysis. An…

Q: What two primary qualitative characteristics make accounting information useful?   Predictive…

A: Relevance: In accounting, the term relevance means it will make a difference to a decision maker.…

Q: explain the fundamental qualities of accounting information

A: Accounting data would be supplied into an accounting information system, which processes data using…

Q: what are some general management accounting issues?

A: Accounting is the language of business. It the art of recording the business transactions and…

Q: What is better: adopting a manual accounting information system or a computerized accounting…

A: Manual accounting information system - These are the accounting system in which all the task of…