Final answer:
The Accounting Information System (AIS) performs three critical functions: collecting and storing financial data, processing this data into useful information, and ensuring the security of the financial information.
Step-by-step explanation:
The Accounting Information System (AIS) performs several critical functions for an organization. While the first two functions are significant enough to warrant separate detailed discussions, the third function encompasses ensuring the security of the accounting information. This function includes protecting the data from unauthorized access, ensuring its accuracy, and maintaining confidentiality, which is paramount in today's digital age filled with cybersecurity threats.
Considering the other two key functions of an AIS, they are collecting and storing financial and accounting data, and processing this data into useful information for decision-making. These functions help maintain the integrity and reliability of financial records, which are essential for strategic planning, regulatory compliance, and corporate governance.