Besy - ROI Flashcards
Characteristics of useful information
Consistent
Understandable
Relevant and reliable
Timely
Comparable
Advantages of digital capture
Reduced operational cost
Reduce human errors -> Improving quality of error
Rapid and easy capture of information
Improved security
Improve access to data -> Remotely -> Multiple logons
Improves ability to track & analyse data -> organisational control improved
Better environment impact
Disadvantages of digital capture
Capital cost of investment
Staff training
What happens if it crashes
Security of data can be compromised -> Hackers or corrupted software with easy access to info
Loss or inadequacy of the data captured.
Cloud accounting
Benefits vs Drawbacks
Ability to access data anywhere
Access real-time information
Always using latest software
Analytical tools
Grant access to trusted third parties
Easier payments by connecting the bank
vs
Internet connection
Only standard packages available
Lack of data security
Lock-in to one system
Information/Documentation by finance function
Inventory control
Costing information
Information for/from suppliers
Information for/from customers
Budgetary information
Data and information security risks
Physical risks -> Intrusions, Theft of hardware
Damage of hardware
Data may get damaged
Operational mistakes
Industrial espionage/fraud
Security measures
Threat avoidance
Prevention
Deterrence
Detection
Recovery
Correction
Physical security
Fire precautions
Power saving devices
Appropriate positioning of computer hardware
Controls to prevent hacking
Physical security
Authorisation
Passwords
Data encryption
System logs
Random checks
Shielding of VDU’s (Visual display unit)
Preventative step against computer viruses
Anti-virus software
Control of use of external software
Use of verified memory sticks
restricted access to physical memory storage
Use of passwords, user number limits
Action points to reduce threat of cyber-attack
Look out for Fishing emails -> Unrecognisable senders or content
Don’t enter info into untrusted websites
Keep system updated
Install firewall, back your data
Have control access to system
Role of information
Finance funtion
Useful information
Digital technologies
Cloud accounting
Data and info security
Risk
Protection
Security measures
