establish and maintain accounting information systems

Question 4 Fred and Wilma own and operate Framing World, a company that frames diplomas. professional certificates and other documents. Customers bring in the documents they want framed: Fred or Wilma fills out a sales order noting the client's information (name, address and so on), the type of document to be framed and the details of the framing itself (such as the type and colour of frame). They also scan the document to the store's internal computer network for reference purposes. Most documents are framed by hand, but Framing World also uses some specialised equipment for more complex jobs. The company maintains its accounting records in a general ledger system; the firm's accountant prepares monthly reports, such as income statements and bank reconciliations, using spread sheets and word processing software. Work in process and finished goods inventory are kept secure with alarm systems and video surveillance. Accounting information systems typically comprise five elements. Analyse the preceding narrative by identifying a specific example of each element. Explain your responses in the grid below. (Explain the process and procedures for recording and storing financial data). AIS Element Example from Framing World Input Input Process Output Storage Intemal Control