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Business Environment & Concepts > B4 > Flashcards

B4 Flashcards

1
Q

Information technology

A

A general term that encompasses many different computer-related components.

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2
Q

Business information system

A
  • one of the most basic and vital information technology components of any business
  • can be divided into the categories of transaction processing systems, enterprise resource planning systems, decision support systems and executive information systems
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3
Q

5 components of information technology

A
  • hardware
  • software
  • network
  • people
  • data/information
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4
Q

Hardware

A
  • The actual physical computer or computer peripheral device

- PC, workstation, mainframe, disk drive, tape drive, monitor, mouse, printer, scanner, keyboard

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5
Q

Software

A

-Includes the systems and programs that process data and turn that data into information

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6
Q

Network

A

Made up of the communication media that allows multiple computers to share data and information

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7
Q

Data

A

Raw facts

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8
Q

Information

A

Created from data that have been processed and organized and is useful for decision making

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9
Q

4 Primary roles in business operations

A
  1. To process detailed data (TPS)
  2. To provide information used for making daily decisions
  3. To provide information used for developing business strategies
  4. To take orders from customers
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10
Q

Accounting information system

A

A type of management information system; it may also be partly a transaction processing system and partly a knowledge system. A well designed AIS creates an audit trail for accounting transactions.

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11
Q

Basic accounting trail

A

source document input–> file –> journal –> ledger –> trial balance –> financial statements reports

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12
Q

Functions performed on data (5)

A
  1. collect
  2. process
  3. store
  4. transform
  5. distribute
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13
Q

Objectives of an AIS (5)

A
  • record valid transactions
  • properly classify those transactions
  • record the transactions at their proper value
  • record transactions in the proper accounting period
  • properly present the transactions and related information in the financial statements of the organzation
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14
Q

Revenue cycle

A

Transactions associated with the sale of goods or services that produce cash or other assets

  • customer orders and credit verification
  • accounts receivable
  • cash receipts
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15
Q

Expenditure cycle

A

Transactions associated with purchase of goods or services that use cash or produce debt or other obligations

  • purchasing
  • inventory control (WIP)
  • accounts payable
  • cash disbursements
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16
Q

Production cycle

A

Transactions associated with the conversion of resources into products or services

  • product design and production planning
  • product manufacturing
  • inventory control (finished goods)
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17
Q

Human resources/payroll cycle

A

Transactions associated with all phases of employee administration

  • HR
  • Time and attendance
  • payroll disbursements
  • payroll tax reporting
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18
Q

Sequence codes

A

Are generally used to ensure that all transactions or documents are accounted for. A list of transactions should include neither duplicates nor gaps in the number sequence

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19
Q

Block codes

A

Use blocks of numbers to group similar items

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20
Q

Group codes

A

Have additional information over block codes, within the account or item number, different groups of numbers have meaning. Example=FASB codification

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21
Q

Entity

A

the subject of the stored information (employee, customer)

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22
Q

Attributes

A

the specific items of interest for each entity (rate of pay for employees, credit rating)

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23
Q

Field

A

Contains a single piece of information of the entity

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24
Q

Record

A

Includes all attributes about a single instance of an entity

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25
Q

Data value

A

The contents of fields

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26
Q

Advantages of centralized processing

A
  • enhanced data security

- consistent processing

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27
Q

Disadvantages of centralized processing

A
  • possible high cost
  • increased need for processing power and data storage
  • reduction in local accountability
  • bottlenecks
  • delay in response time
  • increased vulnerability
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28
Q

Periodic scheduled reports

A

The traditional reports that display information in a predefined format and are made available on a regular basis to end users of the system

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29
Q

Exception reports

A

Are produced when a specific condition or exception occurs

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30
Q

Demand reports (pull)

A

Available on demand, often referred to as a response report because an end user can log onto a workstation and obtain a response in the form of a report without waiting for scheduled report creation

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31
Q

Ad Hoc reports

A

One that does not currently exist but that can be created on demand, without having to get a software developer or programmer involved.

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32
Q

Push reports

A

information can be pushed and sent to a computer screen or computer desktop. An enduser creates a template or profile specifying the information desired. A program then searches for content that meets the requirements of the profile and sends the information to the end user’s desktop without further action on the user’s part.

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33
Q

Transaction processing systems

A

The systems that process and record the routine daily transactions necessary to conduct business. The functions of such a system are normally predefined and highly structured. In high-volume situations, a premium may be placed on system speed and efficiency.

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34
Q

Management information system

A

Provides users predefined reports that support effective business decisions (tactical).

35
Q

Decision support systems

A

An extension of an MIS that provides interactive tools to support decision making. May provide information, facilitate the preparation of forecasts, or allow modeling of various aspects of a decision.

36
Q

Executive information system

A

Provide senior executives with immediate and easy access to internal and external information to assist in strategic decision making.

37
Q

Systems development life cycle (SDLC)

A

Provides a framework for planning and controlling the detailed activities associated with systems development.

38
Q

The steps in the SDLC (A DITTO)

A 
systems Analysis
Design (conceptual and physical)
Implementation and conversion 
Training
Testing
Operations and maintenance
39
Q

COBIT 5 governance objectives

A
  • strategic alignment
  • value delivery
  • resource management
  • risk management
  • performance measurement
40
Q

COBIT 7 information criteria (ICE RACE)

A

Integrity
Confidentiality
Efficiency

Reliability
Availability
Compliance
Effectiveness

41
Q

4 Domains of COBIT (PO AIDS ME)

A

Plan and Organize
Acquire and Implement
Deliver and Support
Monitor and Evaluate

42
Q

Input controls (3)

A
  1. data validation and the field level
  2. prenumbering forms
  3. well-defined source data prep procedures
43
Q

Processing controls (6)

A
  1. data matching
  2. file labels
  3. recalculation of batch totals
  4. cross-footing and zero balance tests
  5. written protection mechanisms
  6. database processing integrity procedures
44
Q

Output controls (4)

A
  1. user review of output
  2. reconciliation of procedures
  3. external data reconciliation
  4. output encryption
45
Q

Role of system analyst (internally developed system)

A
  • works with end users to determine system requirements-
  • designs the overall application system
  • determines the type of network needed
46
Q

Role of system analyst (purchased system)

A
  • integrates the application with existing internal and purchased applications
  • provides training to end users
47
Q

Role of application programmers/software developer

A
  • responsible for writing and/or maintaining application programs
  • should not be given write/update access to data in production systems or unrestricted and uncontrolled access to application program change management systems
48
Q

Role of system programmer

A
  • responsible for installing, supporting, monitoring, and maintaining the operating system
  • capacity planning functions
  • should not be given write/update access to data in production systems or access to change management systems
49
Q

Role of computer operator

A

-scheduling and running processing jobs

50
Q

Role of IT supervisor

A

manage the functions and responsibilities of the IT department

51
Q

Role of file librarian

A

-store and protect programs and tapes from damage and unauthorized use

52
Q

Role of data librarian

A

-has custody of and maintains the entity’s data and ensures that production data is released only to authorized individuals when needed

53
Q

Role of security administrator

A
  • responsible for the assignment of initial passwords and often the maintenance of those passwords
  • overall operation of the various security systems and the security software in general
54
Q

Role of database administrator

A

-responsible for maintaining and supporting the database software and performing certain security functions

55
Q

Role of network administrator

A

-support computer networks through performance monitoring and troubleshooting

56
Q

Role of web administrator

A

-responsible for information on a website

57
Q

Role of data input clerk

A
  • prepare, verify, and input data to be processed

- function is now increasingly distributed to the end users

58
Q

Role of hardware technician

A

-sets up and configures hardware and troubleshoots any resulting hardware problems

59
Q

Role of end user

A

-workers in an organization who enter data into a system or who use the information processed by the system

60
Q

Segregation of duties

Systems analysts vs. computer programmers

A

System analysts design an information system to meet users needs whereas computer programmers use that design to create an information system by writing computer programs. Analysts often are in charge of hardware and programmers are in charge of application software. Theoretically, if the same person was in charge of hardware and software, that person could easily bypass security systems without anyone knowing and steal organizational information or assets.

61
Q

Segregation of duties

Computer operators vs. computer programmers

A

It is important that computer operators and computer programmers be segregated because a person performing both functions could make unauthorized and undetected program changes

62
Q

Segregation of duties

Security administrators vs. computer operators and computer programmers

A

Security administrators are responsible for restricting access to systems, applications, or databases to the appropriate personnel. If the security administrator were also a programmer or an operator for that system, that person could give himself/herself or another person access to areas they are not authorized to enter.

63
Q

Uninterrupted power supply

A

A device that maintains a continuous supply of electrical power to connected equipment, also called a battery backup.

64
Q

Electronic Commerce

A

The electronic completion of exchange (buying and selling) transactions is called e-commerce. It can use a private network or the Internet

65
Q

Electronic Business

A

Any use of information technology, particularly networking and communications technology, to perform business processes in an electronic form, may or may not relate to the purchase and sale of goods or services

66
Q

Electronic data interchange

A

Computer-to-computer exchange of business transaction documents in structured formats that allow the direct processing of the data by the receiving system

67
Q

Enterprise resource planning system (ERP)

A

A cross functional enterprise system that integrates and automates the many business processes and systems that must work together in the manufacturing, logistics, distribution, accounting, finance, and human resources functions of a business. Comprises a number of modules that can function independently or as as integrated system to allow data and information to be shared among all of the different departments and divisions of large businesses.

68
Q

Supply chain management

A

Concerned with the 4 important characteristics of every sale: what, when, where, and how much. It is the integration of business processes from the original supplier to the customer and includes purchasing, materials handling, production planning and control, logistics and warehousing, inventory control, and production distribution and delivery.

69
Q

Customer relationship management system

A

Provide sales force automation and customer services in an attempt to manage customer relationships. Record and manage customer contacts, manage salespeople, forecast sales, manage sales leads, provide and manage online quotas and product specifications and pricing, and analyze sales data.

70
Q

Electronic funds transfer system

A

A form of electronic payment for banking and retailing. uses a variety of technologies to transact, process, and verify money transfers and credits between banks, businesses, and consumers.

71
Q

Application service providers

A

Provide access to application programs on a rental basis. They allow smaller companies to avoid the extremely high cost of owning and maintaining today’s application systems by allowing them to pay only for what is used. The ASPs own and hose the software and users access it via a web browser.

72
Q

Hypertext markup language (HTML)

A

Tag-based formatting language used for Web pages. It provides a means to describe the structure of text-based information in a document and to replicate information in a Web page by using the tags in the text

73
Q

Hypertext Transfer Protocol (HTTP)

A

The communications protocol used in transfer Web pages on the World Wide Web

74
Q

Uniform Resource Locator (URL)

A

The technical name for a Web address which consistently directs the user to a specific location on the Web

75
Q

Strategic risk

A

the risk of choosing an inappropriate technology

76
Q

Operating risk

A

the risk of doing the right things in the wrong way

77
Q

Financial risk

A

the risk of having financial resources lost, wasted, or stolen

78
Q

Information risk

A

the risk of loss of data integrity, incomplete transactions, or hackers.

79
Q

Risk

A

the possibility of harm or loss

80
Q

Threat

A

any eventuality that represents a danger to an asset or a capability linked to hostile intent

81
Q

Vulnerabilty

A

a characteristic of a design, implementation, or operation that renders the system susceptible to a threat

82
Q

Incremental backup

A

involves copying only the data items that have changes since the last backup

83
Q

differential backup

A

copies all changes made since the last full backup. each new differential backup file contains the cumulative effects of all activity since the last full backup.

Business Environment & Concepts (6 decks)

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