ASSIGNMENT: TRANSFORMING ACCOUNTING THROUGH TECHNOLOGY

Technology has noticeably changed the way accounting is done. These changes often result from the need to cut costs and expand or improve services. Research shows that organizations that successfully adopt sophisticated technology tools outperform those that do not. But the simple automation of accounting processes can no longer guarantee a competitive advantage. Instead, organizations must determine how to use technology to transform their accounting practices and market their brand and products.

OVERVIEW OF ASSIGNMENT:

An AIS is the integration of accounting activities and information technology. It enables data entry, and tracking and management for the accounting data. Many teams use an information system to help them improve their processes and stay organized. You have been recruited as a consultant for the implementation of an AIS solution in the organisation. Your work will be assessed on how effectively you undertake the mentioned tasks and translate your understanding into a concise and comprehensive account/report.

TASKS You are required to undertake an in-depth study of one organisation of your choice, so as to cover the learning objectives of the module. Elaborate on the importance of Information Systems to accounting Discuss the effectiveness in integrating the accounting activities with IT through the use of AIS in the organisation and how they are important for business today Assess the extent to which AIS implementation contributes to improve business information needs and overall business performance Evaluate the importance of IT Audit and Forensic Accounting Discuss how ERP software can support decision making Elaborate on the different uses of technology in making the organisation competitive Discuss the information security threats and ensuring prevention and recovery Evaluate the future trend of AIS

ASSESSMENT DETAILS Your report should include: a) A general description of key concepts of Organisation profile and existing AIS

Importance of Information System to Accounting Effectiveness in integrating accounting activities with IT through the use of AIS in the organisation Implementation of AIS Importance of IT Audit and Forensic Accounting Benefits of ERP software Use of technology Security Strategies Future trend of AIS b) A systematic and coherent presentation of information gathered. c) A conclusion regarding impact of AIS in transforming the accounting functions of an organisation and you are invited to make some specific recommendations based on evidence from your study.