The accounting information system comprises the processes, procedures, and systems that capture accounting data from business processes; record the accounting data in the appropriate records; process the detailed accounting data by classifying, summarizing, and consolidating; and report the summarized accounting data to internal and external users. Many years ago, accounting information systems were paper based journals and ledgers that were recorded manually by employees. Today, nearly every organization uses computer systems, mobile devices and cloud applications for maintaining records in its accounting information system.
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