ACCOUNTING INFORMATION SYSTEM

Accounting Information System

Executive Summary

Accounting as an information system is to gather data about accounting nature and process using a suitable processing system create and maintain accounting records and produce financial information. They are the written records of the transactions made by the company, which may include internal source: issued by the organization itself or external use intended for people or organizations outside of it. The problems that have been faced by the existing business of Pressure Hydraulics were the Accounting and Payroll problems. This can be solve through transaction processing system is a type of information system that collects, stores, modifies and retrieves all the information generated by the transactions involved in an organization. GL system is almost the same age of computers. Due to the needs of companies in timely and accurate financial records, they became one of the first computer applications and lastly management reporting system which is the result of activities of any management accounting system. The feasibility analysis of accounting information system suggest that Pressure Hydraulics should for computerised system as it will reduce their human work and error and will enable them, to make transaction across the globe.

Accounting Information System Assignment - Pressure Hydraulics

Introduction

Overview of the Business - Pressure Hydraulics

Pressure Hydraulics deals with the specialized services of Pressure Hydraulics. This product is used in cars, trucks and earth moving equipment. Hydraulic systems are an assembly of components operating as a single unit and often interact to use a fluid under pressure to effect a work mechanically.

Pressure Hydraulics has been offering there services in three centres which are:

Newcastle

Toronto

Maitland

Beside this, Maitland is also offering a service in mining industry. In last few years, the company has been earning huge amount of profit. Allan Taylor is looking Pressure Hydraulics operations want to expand Pressure Hydraulics' business and for that he has devised a plan. The future projects that he wants to be at Coffs Harbour and Gosford along with the east coast of NSW. Allan believes that adoption of IT facilities can make improvement in the existing business and future plan. As he is spending portion of his days in the each service centre in order check and balance the operations. This would be very difficult for him if operation expanded with any new approach towards the advancement. Hence there are so many problems in existing business which Allan wants to be solved so that further expansion can be made.

Discussion

Description of the problem

The problems that have been faced by the existing business of Pressure Hydraulics were the Accounting and Payroll problems. They did not have strong system which can record and properly make changes as it arises. Furthermore, the entire process was on manual bases. When business has different branches, it is necessary hat they should have proper software so that the entries can accumulated with each other (Washington State of Department of transportation, 2009, pp. 76).

The initially problem faced by the company was the manual recording of the orders in the ...