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AIS > Chapter 1 > Flashcards

Chapter 1 Flashcards

1
Q

It is a business resource

A

Information

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2
Q

vital to the survival of contemporary businesses

A

Information

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3
Q

flows of information used primarily at the operations level to capture transaction and operations data

A

horizontal

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4
Q

instructions, quotas, and budgets

A

vertical downward flows

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5
Q

aggregated transaction and operations data

A

vertical upward flows

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6
Q

7 Most Common Types of Data Breaches

A

Stolen information
Ransomware
Password guessing
Recording key strokes
Phishing
Malware or virus
Denial of service (DOS)

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7
Q

group of interrelated multiple components or subsystems that serve a common purpose

A

system

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8
Q

A system is called ___ when it is viewed as a component of a larger system.

A

subsystem

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9
Q

a subsystem is considered a ___ when it is the focus of attention

A

subsystem

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10
Q

process of dividing the system into smaller subsystem parts

A

system decomposition

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11
Q

distinct parts are not self-contained

A

system/subsystem interdependency

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12
Q

reliant upon the functioning of the other parts of the system

A

system/subsystem interdependency

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13
Q

all distinct parts must be functioning or the system will fail

A

system/ subsystem interdependecy

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14
Q

it is the set of formal procedures by which data are collected, processed into information, and distributed to users.

A

information system

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15
Q

a business event

A

transaction

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16
Q

economic events that affect the assets and equities of the organization

A

financial transactions

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17
Q

all other events processed by the organization’s information system

A

nonfinancial transactions

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18
Q

flow of transaction

A

financial/nonfinancial transaction > information system > information > user decision making

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19
Q

it is an information system

A

accounting

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20
Q

It identifies, collects, processes, and communicates economic information about a firm using a wide variety of technologies.

A

accounting information system

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21
Q

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

A

accounting information system

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22
Q

It distributes transaction information to operations personnel to coordinate many key tasks.

A

accounting information system

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23
Q

AIS process ___

A

financial transactions

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24
Q

MIS process ___

A

nonfinancial transactions that are not normally processed by traditional AIS

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25
Q

AIS software - large vendors

A

Microsoft,
Sage Group,
SAP AG|SAP
Oracle Corporation

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26
Q

AIS softwares - Lower costs packages

A

Tally
ERP 9
MYOB
Quickbooks

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27
Q

an ais subsystem that supports daily business operations

A

transaction processing system (TPS)

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28
Q

an ais subsystem that produces financial statements and reports

A

General ledger/Financial reporting system (GL/FRS)

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29
Q

an ais subsystem that produces special purpose reports for internal use

A

Management Reporting System (MRS)

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30
Q

financial transactions that enter the information system from internal and external sources.

A

data sources

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31
Q

the most common source of data for most organizations.

A

external financial transactions

32
Q

involve the exchange or movement of resources within the organization

A

internal financial transactions

33
Q

sale of goods and services, purchase of inventory, receipt of cash, and disbursement of cash (including payroll).

A

external financial transactions

34
Q

movement of raw materials into work-in-process (WIP), application of labor and overhead to WIP, transfer of WIP into finished goods inventory, and depreciation of equipment.

A

internal financial transactions

35
Q

flow of transforming DATA into INFORMATION

A
  1. Data Collection
  2. Data Processing
  3. Data Management
  4. Information Generation
36
Q

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

A

Data collection (TPS)

37
Q

Classifying
Transcribing
Sorting
Batching

A

Data processing (TPS)

38
Q

Storing
Retrieving
Deleting

A

Data Management (DBMS)

39
Q

Compiling
Arranging
Formatting
Presenting

A

Information Generation (GL/FRS)

40
Q

Characteristics of Useful Information that serves a purpose

A

relevant

41
Q

Characteristics of Useful Information that no older than the time period of the action it supports

A

timeliness

42
Q

Characteristics of Useful Information that is free from material errors

A

Accuracy

43
Q

Characteristics of Useful Information that all information essential to a decision or task is present

A

Completeness

44
Q

Characteristics of Useful Information that is aggregated in accordance with the user’s needs

A

summarization

45
Q

The goal of an information system is to support

A

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

46
Q

it is the structure of an organization which helps to allocate ___

A

Responsibility
Authority
Accountability

47
Q

getting control from someone (authority)

A

Accountability

48
Q

exercising control from oneself (ability)

A

Responsibility

49
Q

focuses on process

A

authority

50
Q

focuses on outcome

A

responsibility

51
Q

before the act agreement

A

responsibility

52
Q

after the act agreement

A

accountability

53
Q

making somebody accountable who was not responsible

A

scapegoating

54
Q

it is a business function that is a very common method of organizing.

A

segmenting

55
Q

its objective is to achieve higher levels of operational efficiency

A

segmenting

56
Q

it is when the person in charge of deposits of currency and check receipts should not be allowed to reconcile the sales records to the cash deposits and/or the bank account. If these duties are not separated, then the cash receipts clerk can steal money and cover it up during the reconciliation process.

A

accounting independence

57
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

58
Q

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

Primary areas:
database administration
data processing
systems development
systems maintenance

A

centralized data processing

59
Q

it is a single database located at 1 site on a network

A

centralized database

60
Q

consist of 2 or more files located at different sites on a network

A

distributed database

61
Q

potential advantage of distributed data processing

A

cost reductions
improved cost control
improved user satisfaction
improve backing up the data

62
Q

potential disadvantage of DDP

A

loss control
mismanagement
incompatibility of soft/hardwares
redundant task
consolidating task
lack of standards
difficulty attracting qualified personnel

63
Q

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

A

manual process model

64
Q

excessive storage costs of paper documents and/or magnetic form

A

data storage

65
Q

changes or additions must be performed multiple times

A

data updating

66
Q

potential problem of failing to update all affected files

A

currency of information

67
Q

user’s inability to obtain additional information as needs change

A

task-data dependency

68
Q

separate files are difficult to integrate across multiple users

A

data integration

69
Q

an accounting framework for modeling an organization’s economic resources, events, agents

A

REA model

70
Q

often used to model these relationships

A

entity-relationship diagrams (ERD)

71
Q

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

A

Accountants as Information System Users

72
Q

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

A

Accountants as Information System Users

73
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

74
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

75
Q

attest to fairness of financial statements

assurance service: broader in scope than traditional attestation audit

A

Accountants as System Auditors - external auditors

76
Q

evaluate IT, often as part of external audit

A

Accountants as System Auditors - IT auditors

77
Q

in-house IS and IT appraisal services

A

Accountants as System Auditors - internal auditors

AIS (5 decks)

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