and feedback. Each component has a different characteristics and accomplishes different functions in the financial reporting process. The External Environment The Information System Database Management External Sources of Data Data Collection Processing Information External End Data Generation Users Feedback Internal Sources of Internal End Data Users Feedback The Business Organization Figure 1: General Model for Accounting Information System (Hall, 2012) Information Flow Model A four-level pyramid model of different types of Information Systems based on the different levels of hierarchy in an organization. Top Management Stakeholders Middle Management Budget Information and Instructions Operations Performance Information Management Suppliers Customers Operations Personnel Day-to-Day Operations Information Figure 2: Information Flow Model (Hall, 2012) 2