Regardless of the size or economic sector of the entities, they require information for decision-making. According to the Financial Reporting Standards (NIF), this information must be:
- Truthful,
- Reliable,
- Comparable, and
- Timely.
In this article, we will define key points about accounting information systems, referencing the 2024 Financial Reporting Standards (NIF).
What is a System?
To understand what an accounting information system is, we will start by defining a "system." According to Bertalanffy (1968), a system is: "A set of interrelated and interdependent elements that interact with each other to achieve a common goal."
In other words, a system is a group of connected elements that depend on each other, working together to achieve a common objective. One of the main goals of an accounting information system is to produce financial information.
What is Accounting?
The NIF defines accounting in its Conceptual Framework (MC) as: "The technique used to compile records of transactions and other events that economically affect an entity, systematically producing and structured financial information that is incorporated into financial statements."
This means that accounting is the process used to record all operations and events that impact the resources of a company. This information is systematically organized and used to create financial reports, which show the economic situation of the entity.
What is an Accounting Information System?
Combining the last two definitions, we can define an «accounting information system» as: «The accounting system is a set of interrelated and interdependent elements that work together to compile, process, and report financial information about the transactions and economic events of an entity .»
This system produces structured and systematic information that is incorporated into financial statements, allowing stakeholders (such as managers, investors, and regulators) to make informed decisions and achieve common economic objectives. Essentially, the accounting system not only focuses on data collection but also on its analysis and presentation, facilitating the understanding of the entity's performance and financial situation.
Examples of Accounting Systems in Mexico
Some popular accounting systems in Mexico include:
- CONTPAQi: One of the most popular systems in Mexico, offering accounting and tax solutions adapted to the SAT, such as electronic invoicing, payroll, accounting, and inventory management.
- Aspel IOC: An integrated accounting system that allows users to maintain accounting books, generate financial statements, perform bank reconciliations, and comply with Mexican tax requirements, such as submitting electronic accounting to the SAT.
- Bind ERP: A cloud-based platform designed for small and medium-sized enterprises in Mexico, featuring modules for accounting, payroll, invoicing, and inventory management.
Conclusions
Accounting information systems (SIC) allow for the automated recording and processing of financial data, improving decision-making, facilitating compliance with tax regulations, and optimizing operational efficiency.
These systems reduce errors, increase information security, and are scalable, enabling companies to adapt to growth.
Additionally, they centralize information, ensuring its integrity and facilitating internal control, which is crucial for the financial success of any organization.
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