An accounting and information system is the collection, storage and processing of financial and accounting data used by internal users to report information to investors, creditors and tax authorities. An accounting information system is generally a computer-based method for tracking accounting activity in conjunction with information technology resources. An accounting information system combines traditional accounting practices, such as the Generally Accepted Accounting Principles, with modern information technology resources. An accounting and information system is a structure that a business uses to collect, store, manage, process, retrieve and report its financial data so that it can be used by accountants, consultants, business analysts, managers, chief financial officers, auditors, regulators and tax agencies.