Solution Preview a. What financial information are such clubs likely to collect and maintain? The most minimal information kept by some groups is a check book. One level higher is using either Excel...

Solution Preview

a. What financial information are such clubs likely to collect and maintain?

The most minimal information kept by some groups is a check book. One level higher is using either Excel or Quicken. More sophisticated organization will use QuickBooks and even a billing system for dues as well as payments through QuickBooks.

Many organizations don't consider reporting to members important enough to maintain decent records. They get through presenting information in meetings or newsletters with little thought to possible consequences.

b. Assuming that the club keeps manual accounting records; would you consider such systems accounting information systems? Why or why not?

There is nothing wrong with manual records even though simple accounting programs are more efficient and provide more information by rearranging information in various formats that could be useful to members. Still, manual systems can be loaded with information needed to understand the finances of an organization.

c. Assume that the club treasurer of one such organization is in charge of all financial matters, including ...