Week 2 - AIS Overview

Question 1

What are the three types of AIS

Answer 1

1. General Ledger / FR systems
2. Transaction processing systems
3. Management reporting systems

Question 2

Who are the users of AIS

Answer 2

Internal users ( employees, business owners)
External users (investors, creditors)

Question 3

What is cloud accounting

Answer 3

The use of accounting software and related financial applications that are hosted on remote servers and accessed through the internet

Question 4

Name a few advantages of cloud accounting

Answer 4

• real time access to financial data
• process automations
• accounting team collaboration

Question 5

Name a few cloud accounting challenges

Answer 5

• security and privacy
• governance and control
• compliance
• portability