An organized procedure for identifying, measuring, recording, and retaining financial information so that it can be used in accounting statements and management reports.

The people, records, methods, and equipment that collect and process data from transactions and events, organize them in useful forms, and communicate results to decision makers.

An accounting information system (AIS) is the system of records a business keeps to maintain its accounting system. This includes the purchase, sales, and other financial processes of the business. The purpose of an AIS is to accumulate data and provide decision makers (investors, creditors, and managers) with information to make decisions.