Accounting Information System

Discussion1: Most think of the Accounting Information System (AIS) as computer software, which it is, but it in our context, it is much more than just software.  After reading chapter 3, what is your perspective on the AIS, and why is an understanding of the AIS so important in the accounting field?  Please be specific, and as always, cite your sources in APA format. Examples of what you might discuss, would be the implications of the expanded accounting equation on financial statement preparation, the required sequence of statement preparation and why, accrual vs. cash basis accounting, etc.  Discussion2: As you have learned, the Income Statement presents the amount of profit (Net Income) for a specific period of time, based on accrual accounting.  In addition to Net Income, what else can you tell about a company from their income statement.  Please look up a company on the SEC’s website https://www.sec.gov/edgar/searchedgar/companysearch.html  Using the company’s stock symbol (i.e. do a web search similar to “stock symbol for Chipotle”).  What you will find is that their stock symbol is CMG, and then you can use that in the Fast Search feature of the SEC site.  P.S.  Please do not use Chipotle.

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