Replacing a Legacy AIS Application Research Paper - 1

Replacing a Legacy AIS Application - Research Paper ExampleThis paper illustrates that murder of Accounting Information System (AIS) helps in the collection of transaction entropy of an organization and then processing them to form useful fiscal information which could be utilized in a more effective way by its users. The users include any of the stakeholders of a smart set. Like any other system, AIS is also a system consisting of distinguishable components which are interrelated to each other. Each of the sub-systems that make up the whole system performs several specific tasks which get integrated to be able to perform the ultimate task. Different components of AIS include People, Procedures, Software, Data, and infrastructure for information technology. The company is a publicly traded company must be requiring a dowry of transactions to be carried out every day. Hence in order to increase its efficiency, new effective AIS is the necessity for the organization. New AIS, repl acing the old incompetent existing AIS of the company, can prove advantageous for the organization. Well devised AIS could be beneficial for the company to effectively handle the increasing volume of information generated through different business transactions carried out every day by the company. Recently, with the advent of IFRS and its requirements, most of the organizations are required to be more cautious while preparing their financial statements. All the information represented in the financial statements is required to be relevant and realistically represented so as to facilitate proper decision making by its end users. New technologically improved AIS would help the company management to take various critical decisions which could have a pregnant positive impact on increasing the effectiveness of the management of the company, thereby increasing the profitability of the company. Various critical decisions that could be facilitated through the improved AIS of the company could be related to the accurate and precise information regarding the outstanding debt of the company, the sales propensity, the assets possessed by the company, cash inflows and cash outflows, performance of the different product lines of the company, the trend of returns generated by the company, etc. AIS would primarily serve three purposes associated with it. They are a) It would help to effectively store the data related to all the business transactions of the company, b) The data would be then processed into useful information which would facilitate various decision-making process and c) It would help in safeguarding the assets of the company through effective control mechanisms victimization AIS.