QUESTION 2 Ravinash Limited is a manufacturing company going through significant growth. It has limited operational systems for sales, purchasing and payroll and an old in-house accounting system that cannot be developed. The company board believes that an accounting information system will help it compete more effectively but it is not familiar with the types of software involved. It has approached you for the following pieces of advice. Required (a) What is an accounting information system and explain how it might be different from a management information system (b) Outline and evaluate the key purposes of an accounting information system. (c) To what extent should the accounting information system be at the core of the

QUESTION 2 Ravinash Limited is a manufacturing company going through significant growth. It has limited operational systems for sales, purchasing and payroll and an old in-house accounting system that cannot be developed. The company board believes that an accounting information system will help it compete more effectively but it is not familiar with the types of software involved. It has approached you for the following pieces of advice. Required (a) What is an accounting information system and explain how it might be different from a management information system (b) Outline and evaluate the key purposes of an accounting information system. (c) To what extent should the accounting information system be at the core of the

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Please do not give solution in image format thanku Acompany needs financial objectives: to indicate to employees that financial objectives always take precedence over strategic objectives. to convince shareholders that top management is acting in their interests. because without adequate profitability and financial strength, the company’s ultimate survival is jeopardized. to overtake key competitors on such important measures as net profit margins and return on investment. to translate the company’s business model into action items.
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