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2nd sem midterms > AIS MOD 1 > Flashcards

AIS MOD 1 Flashcards

1
Q

operations level to capture transaction and operations data

A

horizontal flow of information

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2
Q

type of vertical flow of info that includes instructions, quotas, and budgets

A

downward flows

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3
Q

type of vertical flow of info that includes aggregated transaction and operations data

A

upward flows

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4
Q

is a business resource

A

information

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5
Q

needs to be appropriately managed and is vital to the survival of contemporary businesses

A

information in business (business resource)

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6
Q

group of interrelated multiple components that serve a common purpose

A

system

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7
Q

considered a system when it is the focus of attention, viewed as a component of a larger system

A

subsystem

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8
Q

dividing the system into smaller subsystem parts

A

system decomposition

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9
Q

not self-contained, reliant upon the functioning of the other parts of the system, it must function or the system will fail

A

system interdependency

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10
Q

set of formal procedures

A

information system

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11
Q

what is the three steps in information system

A

data is; collected, processed into information, distributed to users

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12
Q

is a business event

A

transaction

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13
Q

economic events that affect the assets and equites of the organization

A

financial transactions

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14
Q

all other events processed by the organization’s information system

A

nonfinancial transactions

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15
Q

example of financial transaction

A

purchase of an airline ticket

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16
Q

example of nonfinancial transactions

A

airline reservation

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17
Q

identifies, collects, processes, and communicates economic info about a firm using a wide variety of technologies

A

accounting information system

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17
Q

identifies, collects, processes, and communicates economic info about a firm using a wide variety of technologies

A

accounting information system

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18
Q

captures and records the financial effects of the firm’s transactions

A

accounting information system

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19
Q

distributes transaction information to operational personnel

A

accounting information system

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20
Q

financial and nonfinancial transactions that directly affect the processing of financial transactions

A

AIS

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21
Q

nonfinancial transactions that are not normally processed by traditional

A

management information system (MIS)

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22
Q

what are the three AIS subsystems

A

1) transaction processing system (TPS)

2) general ledger/financial reporting system (GL/FRS)

3) management reporting system (MRS)

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23
Q

supports daily business operations

A

transaction processing system (TPS)

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24
Q

produce financial statements and reports

A

general ledger/financial reporting system (GL/FRS)

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25
Q

produces special-purpose reports for internal use

A

management reporting system (MRS)

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26
Q

financial transactions that enter the info system from internal and external sources

A

data sources

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27
Q

most common source of data for most organizations

A

external financial transactions

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28
Q

involve the exchange or movement of resources within the organization

A

internal financial transactions

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29
Q

example of external financial transactions

A

sale of goods
purchase of inventory
receipt of cash
disbursement of cash

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30
Q

example of internal financial transactions

A
  1. movement of raw materials into work-in-process
  2. application of labor and overhead to WIP
  3. transfer of WIP into finished goods inventory
  4. depreciation of equipment
31
Q

what are the four functions for transforming data into information according to the general AIS model

A
  1. data collection
  2. Data processing
  3. data management
  4. information generation
32
Q

Capturing transaction data
Recording data onto forms
Validating and editing the data

A

data collection

33
Q

Classifying
Transcribing
Sorting
Batching
Merging
Calculating
Summarizing
Comparing

A

data processing

34
Q

●Storing
●Retrieving
●Deleting

A

data management

35
Q

●Compiling
●Arranging
●Formatting
●Presenting

A

information generation

36
Q

Characteristics of Useful Information

A

relevance
timeliness
accuracy
completeness
summarization

37
Q

serves a purpose

A

relevance

38
Q

no older than the time period of the action it supports

A

timeliness

39
Q

free from material errors

A

accuracy

40
Q

all information essential to a decision or task is present

A

completeness

41
Q

aggregated in accordance with the user’s needs

A

summarization

42
Q

goal of an information system is to support

A

●the stewardship function of management
●management decision making
●the firm’s day-to-day operations

43
Q

The structure of an organization helps to allocate

A

●responsibility
●authority
●accountability

44
Q

very common method of organizing

A

segmenting

45
Q

enumerate the functional areas

A

●Inventory/Materials Management
●Production
●Marketing
●Distribution
●Personnel
●Finance
●Accounting
●Computer Services

46
Q

purchasing, receiving and stores

A

inventory/ materials management

47
Q

production planning, quality control, and maintenance

A

production

48
Q

Accounting activities must be separate and independent of the functional areas maintaining resources.

A

accounting independence

49
Q

Accounting supports these functions with information but does not actively participate.

A

accounting independence

50
Q

Decisions makers in these functions require that such vital information be supplied by an independent source to ensure its integrity.

A

accounting independence

51
Q

Reorganizing the
computer services
function into small
information processing
units that are distributed
to end users and
placed under their control

A

distributed data processing

52
Q

all data processing
is performed by
one or more large
computers housed
at a central site
that serves users
throughout the
organization.

A

centralized data processing

53
Q

primary areas of centralized data processing

A

database administration
data processing
systems development
systems maintenance

54
Q

potential advantages of DDP

A

●Cost reductions in hardware and data entry tasks
●Improved cost control responsibility
●Improved user satisfaction since control is closer to the user level
●Backup of data can be improved through the use of multiple data storage sites

55
Q

potential disadvantages of DDP

A

●Loss of control
●Mismanagement of company resources
●Hardware and software incompatibility
●Redundant tasks and data
●Consolidating tasks usually segregated
●Difficulty attracting qualified personnel
●Lack of standards

56
Q

Transaction processing, information processing, and accounting are physically performed by people, usually using paper documents.

A

manual process model

57
Q

excessive storage costs of paper documents and/or magnetic form

A

data storage

58
Q

changes or additions must be performed multiple times

A

data updating

59
Q

potential problem of failing to update all affected files

A

currency of information

60
Q

user’s inability to obtain additional information as needs change

A

task-data dependency

61
Q

separate files are difficult to integrate across multiple users

A

data integration

62
Q

an accounting framework for modeling an organization

A

REA model

63
Q

REA models for?

A

economic resources
economic events
economic agents
interrelationships among resources, events, and agents

64
Q

often used to model the relationships in REA model

A

Entity-relationship diagrams (ERD)

65
Q

Accountants must be able to clearly convey their needs to the systems professionals who design the system.

A

accountants as information system users

66
Q

The accountant should actively participate in systems development projects to ensure appropriate systems design.

A

accountants as information system users

67
Q

The accounting function is responsible for the conceptual system, while the computer function is responsible for the physical system.

A

accountants as system designers

68
Q

The conceptual system determines the nature of the information required, its sources, its destination, and the accounting rules that must be applied.

A

accountants as system designers

69
Q

accounting function is responsible for?

A

conceptual system

70
Q

computer function is responsible for?

A

physical system

71
Q

determines the nature of the information required, its sources, its destination, and the accounting rules that must be applied.

A

conceptual system

72
Q

accountants as system auditors

A

external auditors
IT auditors
Internal Auditors

73
Q

attest to fairness of financial statements

A

external auditors

74
Q

assurance service: broader in scope than traditional attestation audit

A

external auditors

75
Q

evaluate IT, often as part of external audit

A

IT Auditors

76
Q

in-house IS and IT appraisal services

A

Internal Auditors

2nd sem midterms (4 decks)

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