The future of Accounting Information System in Bangladesh

Abstract

This study reflects the current and future role of Accounting Information Systems by analysing the main responsibilities of accountants and financial professionals and defining the functionality of AIS. While many of the responsibilities are already supported by traditional technology answers, others represent challenges that do still not have appropriate responses and therefore deserve to be the focus of future research. The study motivates to enlighten the target users about the potentiality of the accounting information system in the context of Bangladesh.To provide relevant information in time the financial institutions should have a unified accounting information system. Effective AIS is essential for data collection, data management, data maintenance, data control and information generation of the financial institutions. But the information handling units of the financial institutions have not been properly organized. Rules and procedures have not been properly developed to guide information handling departments. Unfortunately still now many people and local organizations consider having an information system to manage the accounts sector as a wastage of money, a threat to their skills, as a result fraud cases, mismanagement of resources & lose of accounts data arise as well as the mismatch between the amount given in the tax file and the actual revenues & the assets of the organization. The study is hoped to be significant to the management, accountants of different organizations, auditors, economists, financial analysts and other potential users of the accounting information system. It’ll give its users a positive perception about the relevance of having a well organized accounting information system including its key features, advantages, effect on performance , productivity and profitability as well as advising general people about its benefit while making an error free financial report. The study is also expected to provide practical guidance to convince small and medium business firms to adopt and implement an accounting information system. It would also provide practical contribution to effective application of accounting information systems in an organization’s operating activities. Finally the study is anticipated to be helpful to the students and the future researchers who want to research on this topic in future.