Reviewing of Accounting Information System on Account Payable Process in a Pharmaceutical Company?
Accounting Information System
Businesses today operate in a highly competitive and changing global business environment and therefore require information systems that provide speedy responses to complex business enquiries. An Accounting Information System (AIS) is a system of collection, storage and processing of financial and accounting data that is used by decision makers. An accounting information system is generally a computerbased method for tracking accounting activity in conjunction with management or externally by other interested parties including investors, creditors and tax authorities. Accounting information systems is a tool that organizations can use to achieve stronger, more flexible corporate culture to face continual changes in the environment.
Initially, accounting information systems were predominantly developed “in-house” as legacy systems. Such solutions were difficult to develop and expensive to maintain. Today, accounting information systems are more commonly sold as prebuilt software packages from vendors such as Microsoft, Sage Group, SAP and Oracle where it is configured and customized to match the organization’s business processes. As the need for connectivity and consolidation between other business systems increased, accounting information systems were merged with larger, more centralized systems known as Enterprise Resource Planning (ERP). Before, with separate applications to manage different business functions, organizations had to develop complex interfaces for the systems to communicate with each other. In ERP................