What is Accounting Information System and its Principles Video Lecture | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year

hello in this lecture we're gonna define
a counting information system according
to fundamental accounting principles
while 22nd edition the definition of
accounting information system is people
records and methods that collect and
process data from transactions and
events organize them in useful forms and
communicate results to decision-makers
so when we're thinking about the
accounting information system we're
really thinking about the entire process
the goal of the financial accounting
being to record these financial
transactions put them in a format that
is relevant put them together and then
create information that can be useful
which will be usually the financial
statements the accounting information
system is the process of how we're going
to do that how are we going to put this
stuff together what tools are we going
to use as we put this together we're
gonna have a computer system all we're
gonna do it by hand who's going to be in
charge of collecting the data how we're
going to compile this data and some
principles of the accounting information
that we could consider when we're
putting the accounting information
system together our control principles
relevance principles compatibility
principles flexibility principles
cost-benefit principles these are some
things we should consider as we put
together our accounting information
system things and principles that we can
talk more about each one of these at a
later time we can also think of
components of the accounting information
system as we go through the system to
put the transaction data into the end
result financial statements we can think
about the process in terms of components
including usually source documents that
we first used to input the data input
devices we might have some type of
computer input devices or other input
devices to put it into the system
possibly credit card machines and things
like that information processing we're
gonna have to process that information
in some way oftentimes we're thinking
about electronic waste computer ways in
this case information storage again
oftentimes these days we're probably
thinking about storage in some type of
database how are we going to store this
information in our accounting
information system and then of course
output how are we going to have the
output of that information be displayed
and
created with our accounting information
system
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