Question: Accounting Information System (AIS) have three basic functions: The first function of an AIS is the efficient and effective collection and storage of data

Accounting Information System (AIS) have three basic functions: The first function of an AIS is the efficient and effective collection and storage of data concerning an organisation's financial activities, including getting the transaction data from source documents, recording the transactions in journals and posting data from journals to ledgers; The second function of an AIS is to supply information useful for management making decisions; and The third function of an AIS is to make sure controls are in place to accurately record and process data. REQUIRED: (a) Explain on the second function of an AIS, to supply information useful for Management Decision Making. (10 mar ks) (b) Describe any FIVE (5) basic principles important to AIS reliability base on the third function.

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