Replacing a Legacy AIS Application Research Paper - 1

Replacing a Legacy AIS Application - Research Paper ExampleThis publisher illustrates that Implementation of Accounting Information System (AIS) service of processs in the collection of transaction data of an organization and and then processing them to form useful financial information which could be utilized in a much effective way by its users. The users include any of the stakeholders of a company. Like any other system, AIS is in any case a system consisting of different components which argon interrelated to each other. Each of the sub-systems that make up the hale system performs several specific tasks which get integrated to be able to perform the ultimate task. unlike components of AIS include People, Procedures, Software, Data, and infrastructure for information technology. The company is a publicly traded company must be requiring a lot of transactions to be carried out every day. Hence in order to increase its efficiency, hot effective AIS is the necessity for the organization. New AIS, replacing the old inefficient existing AIS of the company, can prove opportune for the organization. Well devised AIS could be beneficial for the company to effectively handle the increase volume of information generated by means of 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 strait-laced decision making by its end users. New technologically amend AIS would help the company worry to take various critical decisions which could have a significant 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 t he improved AIS of the company could be related to the accurate and precise information regarding the outstanding debt of the company, the sales trend, 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 lot 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 using AIS.