Description
The unit guides students in considering the role and responsibilities of the accounting function, taking into account the needs of key stakeholders who rely on financial reports to make informed decisions. A critical aspect of the learning process involves reviewing accounting systems to identify weaknesses and proposing measures to mitigate such vulnerabilities in future operations. Students will apply various analytical methods to assess the implications of any changes to operating procedures.
The structure of the accounting function, contingent on the organisation’s size, must adhere to statutory requirements. You will learn to identify appropriate controls, evaluate their impact in terms of cost-effectiveness, reliability, and timeliness, and ensure that all functions adjust their working practices to meet new requirements in an ethical and sustainable manner.
Given the transformative impact of technology on accountancy information processing, this unit covers fundamental principles of data analytics and artificial intelligence (AI). These cutting-edge techniques present alternative ways to gather and analyse information. Cloud accounting is revolutionising the accounting profession, and visualisation techniques, including dashboards, are increasingly utilised to present information in a more comprehensible manner for stakeholders. The importance of data security cannot be overstated, especially in light of frequent reports of breaches in the press. Therefore, you must be fully aware of the significance of keeping all data secure and treating the confidential nature of the data you process as part of your daily responsibilities with the utmost care.
Lastly, you will assess the impact of system changes on both the system itself and its users. Identifying different methods of support for users of the accounting system will be crucial in assisting them in adapting to the recommended improvements.
Learning outcomes
- Understand the role and responsibilities of the accounting function within an organisation
- Evaluate internal control systems
- Evaluate an organisation’s accounting system and underpinning procedures
- Understand the impact of technology on accounting systems
- Recommend improvements to an organisation’s accounting system
Details
Publisher - BookVAULT Publishing
Language - English
Paperback
Author(s) - Accountext Publishing Ltd
Published Date - January 17 2025
ISBN - 9781836903031
Dimensions - 29.7 x 21 x 0.8 cm
Page Count - 148
Payment & Security
Your payment information is processed securely. We do not store credit card details nor have access to your credit card information.