A Structuring of an Events-Accounting Information System.

Information systems have traditionally been designed so that each department or section of a company generates and maintains its own data files. There are some drawbacks of this method, such as, data are at times replicated through several departments, it may be difficult to accumulate common data accurately from the departments, and it would be difficult for other people in management to access quickly some particular data from any individual department. This article proposes a total information system based on the events approach to accounting. The suggested system is more than just an accounting information system helping the accountant to collect and report his figures. The proposed system would provide all desired data and information which might be helpful to all levels of management in the decision-making processes. Events accounting is an approach in which recording of the data corresponds to the occurrence of economic events affecting a firm. The concept of events accounting is still in its developmental stage, as of April 1975, and its meaning and structure are defined in the writings of only a few individuals.