Doing Business on the Globalised Networked Economy: Technology and Business Challenges for Accounting Information Systems

Doing Business on the Globalised Networked Economy: Technology and Business Challenges for Accounting Information Systems

Adamantios Koumpis (ALTEC S.A., Greece) and Nikos Protogeros (University of Macedonia, Greece)
DOI: 10.4018/978-1-60566-856-7.ch004
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Abstract

In this chapter the authors present a set of challenges that are to be faced by accounting information systems. More specifically, these include the support of interoperable accounting processes, for virtual and networked enterprises and for open-book accounting as well as the creation of novel interface metaphors that will automate and increase the usability of accounting information systems, and last but not least the provision of integrated e-accounting platforms.
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The Market For Accounting Software

An accounting information system (AIS) is the system of records a business keeps to maintain its accounting system. This includes the purchase, sales, and other financial processes of the business. The purpose of an AIS, as it has been historically defined through various commercial system implementations, is to accumulate data and provide decision makers (investors, creditors, and managers) with information to make decision. While this was previously a paper-based process, most modern businesses now use accounting software.

In an Electronic Financial Accounting system, the steps in the accounting cycle are dependent upon the system itself, which in turn are developed by programmers. For example, some systems allow direct journal posting to the various ledgers and others do not. Accounting Information Systems provide efficient delivery of information needed to perform necessary accounting work and to assist in delivery of accurate and informative data to users, especially those who are not familiar with the accounting and financial reporting areas itself. Furthermore, accounting software is typically composed of various modules, different sections dealing with particular areas of accounting. Among the most common are:

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