MIS350
Accounting Information Systems
Course Context
3 Themes
• Enterprise Resource Planning
– Integration of all business processes and
associated data within an organization
• E-Business
– Application of networks to conduct and
connect business
• Controls
– Business practices that keep an organization
out of trouble and heading toward
achievement of business goals
Your Role
• Accountant aka Financial Professional
(FP*)
– Financial
– Management
– Auditor
• As is relates to ERP, it is critical that the
FP* understand the integration aspects
(process & data) since they will be on
various teams installing these systems
Your Role - Continued
• As it relates to E-Bus, the FP* must
understand the integration of business
processes and data outside of their current
business entity
• As it relates to controls, the FP* is charged
with enforcing business processes that
ensure efficiency and effectiveness of
operations, reliable reporting, and
compliance with applicable laws and
regulations
Your Role - continued
• Traditional accounting concepts are not
enough for an FP* to succeed in today’s
business environment
Opportunities for the FP*
• Sarbanes Oxley
– Management must identify, document, and
evaluate significant controls
– Auditors must audit and report on
managements assertion about the
organizations’ systems of internal controls
– Requires disclosure to the public on a ‘rapid
and current basis’ of material changes in an
organizations financial condition
– The FP* must be internal control cognizant
and have the wherewithal and technical skills
to substantiate compliance
Opportunities for the FP*
• Report sponsored by:
– American Accounting Association
– American Institute of Certified Public
Accountants (AICPA)
– Institute of Management Accountants
– Big 5 or 4 or 3 (E&Y, KMPG, )
• Recommendation
– Accounting graduates need to be able to
provide services in the area of financial
analysis, financial planning, financial
reporting, strategic consulting, and systems
consulting
Opportunities for the FP*
• Other AICPA Services
– Risk Assessment
– Business Performance Measurement
– Infprmations Systems Reliability
– Electronic Commerce
– PrimePlus Services (Financial care for the
elderly)
Value Chain Analysis – Firm/Industry
‘Firm’ Value Chain
vs.
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Course Tenets
Accounting Information Systems refer to more than the
traditional accounting systems that support the financial
aspects of a business organization. Holistically,
‘accounting’ refers to “the system of recording and
summarizing business and financial transactions and
analyzing, verifying, and reporting the results”.
The progressive proactive accounting professional is
relied upon by owners and managers to identify and
monitor enterprise risks; assure the reliability of
information systems used to gather, store, and
disseminate key information for decision making; and
possess the requisite general business knowledge,
coupled with business process measurement and
assessment skills, to evaluate the state of the business
enterprise and it’s supporting operations
Careers
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Internal Auditor
CPA
Mgmt Accounting
Fin Accounting
AICPA Focus Areas
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Risk Assessment
Business Performance measurement
Information Systems Reliability
Electronic Commerce
Assurance & Information Integrity
Management Consulting and performance
Measurement
Technology Services
Certified Information technology Professional:
using IT to implement business strategy
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Course Threads
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Enterprise Systems
Business Cycles across the Value Chain, i.e.
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Networked Enterprise Systems/E-Business
Process Modeling
Data Modeling / Database Management
Enterprise Risk Management / Controls
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Order to Cash
Purchase to Pay
Controlling & Profitability
Sarbanes-Oxley – Financial Reporting/Disclosure
COSCO – Internal Controls
COBIT – Control Objectives for IT
Computer Fraud & Abuse
Controlling Information Systems: Pervasive and
General Controls
Business Process and Application Controls