The facts that significantly contribute to the actualization of the issues related to improving accounting information system, as well as its further exponential development in the immediate future have been presented in this paper. Target focus of research efforts relates to the detection of the correlation between the development of information technology and accounting information system, emphasizing their conditionality. In this regard, the research has provided an appropriate theoretical framework and basis for the study and definition of an adequate strategy of development of the accounting information systems. At the same time, the scientific results of this study are very applicable and useful in developing our accounting theory and practice.