An Accounting Information System (AIS) is generally a computer-based method for tracking accounting
activity in conjunction with information technology resources [1]. AIS is responsible for the collection,
storage and processing of financial and accounting data that is used for internal management decision making,
including nonfinancial transactions that directly affect the processing of financial transactions. Typically an
AIS is composed of three major subsystems: (1) Transaction Processing System (TPS) that supports daily
business operations; (2) General Ledger System and Financial Reporting System (GLS/FRS) and (3) the
Management Reporting System (MRS) [2].