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Reliable accounting information systems (AIS) is one of the most important parts of maintaining a company’s financial health. To make sure things continue to run smoothly, employers, such as public accounting firms, may turn to an information system specialist to provide ocassional services or oversee operations, especially if they also have management accounting practical experience.
AIS is a career focus that’s increasingly in demand. Read on to learn more about what accounting systems specialists do, and why they’re an important part of an accounting department and the industry as a whole.
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What are Accounting Information Systems and What Do They Do?
An Accounting Information System (AIS) is a structured framework that collects, processes, stores, and manages financial and accounting data for a business. These systems integrate both human and technological components, allowing organizations to track their financial activities, generate reports, and support decision-making processes efficiently.
What Do They Do?
- Data Collection and Storage: AIS captures financial transactions such as sales, purchases, payroll, and expenses. This data is organized and stored in a centralized database for easy access and retrieval.
- Data Processing: The system processes raw financial data into meaningful information. For example, it calculates totals, categorizes transactions, and ensures data accuracy through validation protocols.
- Financial Reporting: AIS generates essential reports, including balance sheets, income statements, cash flow statements, and budget forecasts. These reports provide insights into a company’s financial health.
- Compliance and Auditing: AIS ensures that all financial processes comply with regulatory standards and accounting principles. It also maintains a detailed record of transactions, facilitating internal and external audits.
- Decision Support: By providing real-time financial data and analytics, AIS helps managers and stakeholders make informed decisions about budgets, investments, and resource allocation.
- Automation and Efficiency: AIS automates repetitive tasks like invoice generation and payroll processing, reducing human error and saving time.
- Security and Risk Management: Modern AIS includes robust security features to protect sensitive financial data from breaches or unauthorized access.
AIS serves as the backbone of an organization's financial management, combining technology and accounting expertise to enhance accuracy, efficiency, and decision-making.
Specialist Salaries
Accounting systems are the method through which a business keeps track of its financial information. It’s where organizations enter, collect, store, and perform data processing in order to create reports, file taxes, and ensure that they remain in legal compliance with the federal government.
Each information system typically contains six distinct elements: procedures and instructions determined by policy, data, people, software, IT infrastructure, and internal controls. When you pursue a career in AIS, you’ll play a key role in the information system.
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As much as businesses need a solid AIS, they also need someone who knows how to use it. Companies are likely to turn to a specialist when they first need to implement their AIS, and to take care of any issues that may arise while using it. They may hire their own specialist or internal auditor for an existing computer system if they are a big enough company, or they may turn to consulting firms to get them the system they need for the accounting functions they must complete.
| Entry Level | Mid Career | Late Career |
|---|---|---|
| $45,500 | $73,500 | $128,600 |
What Does an AIS Specialist Do?
An AIS specialist is unique in their ability to bridge the gap between accounting and IT. They’re familiar with the information needed by accountants to do their job correctly, and they know how to format or choose from the software offered in order to handle their needs.
The specific job duties of an AIS specialist often vary based on the size of the company they work for and the position that they hold. In large corporations, an AIS specialist may act as a liaison between the accounting and IT departments within an office, supporting communication and understanding so that it is seemless for each area. At a smaller business without an entire department dedicated to accounting, they are more likely to handle all of the functions of a staff accountant or bookkeeper, while understanding the possible appliations of an accounting system and maintaining system security.
Here's an overview of a few ways an AIS specialist might use their expertise within the accounting field.
- Systems Analyst
Automation is revolutionizing accounting, replacing the days of painstakingly combing through financial reports. Modern accounting systems streamline processes, reducing the need for large teams of entry-level accountants. Instead, companies can rely on a few specialists and a CPA to manage financial data and maintain consultant relationships, making operations more efficient and cost-effective.
The ability to automate tasks such as creating receipts, tracking inventories, and running analyses has effectively taken them out of the hands of accountants, in many cases. Working with programmers, AIS analysts can help to guide the creation of software that gets the job done for their clients while adhering to the generally accepted accounting principles (GAAP).
Systems analysts play a key role in evaluating and improving accounting information systems (AIS), making them more secure and accurate by addressing data leaks and inefficiencies. Today, analytical skills for interpreting data and performing systems analysis are in high demand, far surpassing traditional tasks like data entry. Accounting students should focus on gaining experience with accounting software, forensic accounting, business valuation, and business administration. Whether you’re in school or pursuing continuing education, developing these skills can boost your career opportunities and lead to higher salaries.
- Accountant
Computers are playing an increasingly large role in how small and international businesses view and approach accounting. An accountant with deep understanding of and familiarity with information systems will have a leg up over less tech-savvy colleagues within the finance industry.
Accountants with a background in AIS may have an increased ability to effectively make the system work for their purposes. They’ll need to know how to use and access the data stored, and how to process a number of different functions, like creating reports, analyzing budgets and financial statements, and preparing tax information.
Accountants may confer with programmers and systems analysts to communicate the specific needs their business or firm have for managing their data. They know what to look for to make sure that their company’s AIS is running efficiently, and may be more able to detect potential issues before they become larger problems.
- Consultant
Instead of using their skills for a single company, AIS specialists can often find lucrative employment in the consulting field working for public accounting firms and others.
The details of a consulting job will change depending on the needs of each client. Often, an outside source with a fresh set of eyes can find issues in a system that internal accounting staff may not. A consultant can provide a new perspective in the realistic strengths and weaknesses of a company’s AIS.
AIS consultants can also be of great help when it’s time to set up a new information system. They’ll be able to assess and account for contingencies when designing a plan that works for their client. AIS consultants will know what to look for in creating a system that meets requirements and stays within federal compliance.
- Upper Management
Accounting information systems are essential when it comes to generating the data executives will need to make the best fiscal decisions for their business. A chief financial officer (CFO) who knows how to maximize the effectiveness of AIS output will have the financial information they need at their fingertips.
In today’s competitive job market, AIS certification is just one more useful credential that an aspiring CFO, or any accounting manager or certified management accountant, can have under their belt. It will tell management that a candidate has an interested eye toward the future and a mind for technological progress in the field.
Education Requirements for Accounting Information System Careers
Most AIS specialist roles require at least a bachelor’s degree in accounting. Many students pair an accounting major with a minor in computer science or information systems, while others major in IT or computer science with a minor in accounting or business. The best choice depends on your career goals after graduation.
Some schools offer focused AIS education through certificate programs, which typically require coursework in accounting, auditing, and a business major. Certification may need periodic renewal through continuing education. Management accounting classes can also be valuable, as specializing in AIS demands practical, real-world knowledge.
Undergraduate students can prepare for a career in AIS by taking a course load that’s heavy on information systems credit hours. These may include standard IT courses like systems design, database development, and analysis courses. They may also include more AIS specific classes that will give students an understanding of how accounting information systems directly impact the effectiveness and outcomes of a business’s overall financial plan.
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Certification
If you're an AIS specialist seeking certification, there are some great options. CPAs, for instance, can boost their credentials with the Certified Information Technology Professional (CITP) designation. To earn it, you’ll need a strong grasp of info management, risk assessment, fraud prevention, and internal controls. There’s also a four-hour exam to pass, with a $300 fee—but it’s a solid investment in advancing your career.
Accountants can also pursue the Certified Internal Auditor (CIA) certification, which demonstrates competence in AIS since information systems are a key part of the coursework. To qualify, candidates need at least a bachelor’s degree in a related field, 24 months of relevant experience, and must pass a four-part exam covering auditing, business management, analysis, and information technology. To maintain certification, CIA holders must complete 80 hours of continuing professional education (CPE) every two years.
For a more technical certification, candidates might opt for the Certified Information Systems Auditor (CISA) credential. This requires five years of professional experience and passing a 200-question exam on auditing, IT, and information systems. To keep the certification current, CISAs must complete 120 hours of continuing education over three years, with at least 20 hours each year. Many CISA holders also pursue graduate education to enhance their skills further.
Salary and Career Outlook
The outlook is sunny for those going into the job force with a concentration in accounting information systems.
People using their AIS skills or working as an accountant or auditor can expect to enjoy steady job growth over the next decade, with a projected 6% increase between 2023 and 2033. This is expected to rise as companies continue to prioritize efficiency and risk management in their business strategies. This is especially true in the healthcare industry, which is finding itself dealing with the high costs of an aging population.
As of 2023, accountants and auditors earned a median salary of $79,880 per year. Despite the abundance of jobs, the high pay of this career makes it a particularly competitive one. Serious candidates may choose to pursue a professional certification or learn a niche skill to set themselves apart.