Chap 1 - AIS and the Accountant Flashcards
A system cost accountants use to track costs
ABC - Activity-Based Costing
What is a collection of data a processing procedures that creates needed information of its users?
accounting information system
What is data?
Raw facts
What is information?
Data that is made useful or meaningful
What is an audit trail?
the path that data follows as it flows through an AIS
What is the ISACA?
Information Systems Audit and Control Association
What is a CISA?
Certified Informations Systems Auditors
A person who uses a variety of skills and abilities such as statistical analysis, data modeling, and data mining to make predictions about future events for management
predictive analytics professional
The purpose of _________ is to provide assurance that a company engaged in electronic commerce can provide the goods or services it promises.
CPA Trust Services
ERP stands for what?
Enterprise Resource Planning
What is a feature that includes a variety of methodologies that managers might use to analyze current and past data to help predict future events or trends?
predictive analytics
A large amount of data sets in data warehouses is called?
big data
What is e-business and what is e-commerce?
E-business = conducting business over the internet or networks E-commerce = a subset of e-business which refers mostly to buying and selling on the internet
Financial Accounting vs Managerial Accounting
F = provide relevant info to individuals and groups outside an organizations boundaries (investors, fed and state tax agencies and creditors) M = provide relevant info to organizational managers (users who are internal to a company or gov)
What is the basic idea behind REA accounting?
storing important non financial info about resources, events and agents in databases precisely because they are relevant to the decision making processes of their users.
Data that can be reused and carried seamlessly among a variety of applications or reports is called?
Interactive data
What is XBRL?
an extensible business reporting language
A system where managers trace unfavorable performance to the department or individuals that caused the inefficiencies is called?
responsibility accounting system
A ________ measures business performance in 4 categories:
balanced scorecard
- financial performance
- customer knowledge
- internal business processes
- learning and growth
Business’ use KPIs (?) to measure and evaluate activities in each quadrant of the balanced scorecard
key performance indicators
A ________ are commonly used to monitor key performance metrics.
dashboards
Balanced scorecards and other advanced technologies are becoming increasingly valuable _______ .
business intelligence
When we refer to the hardware, software and related system components that organizations use to create computerized information systems we are talking about?
information technology (IT)
People that produce, analyze, manipulate and distribute info about business activities are called?
knowledge workers
What is cloud computing?
a way of using business applications over the Internet
Can be categorized as:
data storage, infrastructure and platform or application software
What type of reporting focuses on non-financial performance measures that might impact an organizations income, value, or future performance?
sustainability reporting
What type of reporting laws require accountants to report questionable financial transactions to the US Treasury Department?
SAR - suspicious activity reporting
A scheme that is a pyramid fraud in which new investment funds are used to pay returns to current investors
Ponzi scheme
A forensic accountant does what?
They combine the skills of investigation, accounting and auditing to find and collect pieces of info that collectively provide evidence that criminal activity is in process or has happened.
What part of managerial accounting specifically assists management in measuring and controlling the costs associated with an organization’s various acquisition, processing, distribution and selling activities?
cost accounting
A computerized system that tries to penetrate a system to access risks is called?
penetration testing
A consulting career in the AIS field can include jobs as a?
value-added reseller (VAR): individual who takes a product and adds value to the product for their customers
What does CFE stand for?
Certified Fraud Examiner - a certification a forensic accountant must pass
What does CITP stand for?
Certified Information Technology Professional
