MBA Accounting and Information Management

Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing and reporting these transactions to oversight agencies, regulators and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company's operations, financial position and cash flows. Two important types of accounting for businesses are managerial accounting and cost accounting. Managerial accounting helps management teams make business decisions, while cost accounting helps business owners decide how much a product should cost.Information systems are the combination of people, information technology, and business processes to accomplish a business objective. Every information system (IS) has people, processes, and information technology. In fact, many IS professionals add most of their value working with people and processes. They manage the programmers but typically avoid programming themselves. We can represent an information system as a triangle with people, processes, and information technology (computers) on the three vertices.