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AIS > Exam 3 > Flashcards

Exam 3 Flashcards

Chapters 10, 15-17

1
Q

What are the steps in preparing a structure diagram?

A

1) IDENTIFY the classes
2) IDENTIFY the associations
3) DEFINE multiplicities
4) DEFINE tables
5) PLAN to implement access

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2
Q

What is the first step in preparing queries?

A

Ensure data is limited to the period of interest.

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3
Q

What is the second step in preparing queries?

A

Summarize by store/location for income statement elements before forming an overall income statement

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4
Q

What is the third step in preparing queries?

A

Develop balance sheet amounts.

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5
Q

What is the fourth step in preparing queries?

A

Develop other performance measures as appropriate.

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6
Q

Who is known for introducing blockchain technology in 2008?

A

Satoshi Nakamoto

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7
Q

What are the 3 important concepts involved in the traditional transactions?

A

1) Middleman
2) Delay
3) Service Fee

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8
Q

What is blockchain?

A

1) transactions are done without any middleman
2) faster transaction time
3) lower service fee

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9
Q

In a tradition system the system is (blank).

A

CENTRALIZED

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10
Q

In a blockchain system the system is a (blank).

A

DECENTRAILIZED, distributed ledger

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11
Q

Why is blockchain useful?

A

1) enable trust through collaboration
2) eliminated intermediaries
3) lower costs

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12
Q

What are the 3 characteristics needed for blockchain to work?

A

1) distributed and decentralized
2) consensus
3) immutability (tamperproof)

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13
Q

Bitcoin

A

the first cryptocurrency

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14
Q

What was the first blockchain application in production?

A

The First Mover

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15
Q

Smart Contracts

A

Smart contracts define the terms, business rules, and transfer of assets in a piece of software code

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16
Q

Ethereum

A

cryptocurrency; similar to bitcoin but has some differences

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17
Q

Public Blockchain

A

blockchain network where participants do NOT need permission to join the network

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18
Q

Private Blockchain

A

blockchain network where participants need permission to join the network

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19
Q

Consortium Blockchain

A

permissioned blockchain
governed by one or more organizations

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20
Q

Corda

A

developed by R3 and is a consortium blockchain

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21
Q

Hyperledger

A

1) Smart contracts, configurable consensus, and member management services.
2) Private channels

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22
Q

Was blockchain originally built to support enterprise use cases?

A

NO

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23
Q

What are the impacts of blockchain in Audit and Asurance?

A

1) continuous audit becomes possible
2) opportunities for future roles in CPA
3) new approaches for future audit tasks

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24
Q

Artificial Intelligence

A

intelligence exhibited by machines rather than humans
(cognitive technologies)

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25
Q

Machine Learning

A

involves the computer’s ability to learn from experience rather than specific instructions.

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26
Q

Deep learning

A

involves complex, multilayer (deep) neural networks and has more than two nonoutput layers.

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27
Q

What are the 3 parts in machine learning cycle?

A

1) Learn
2) Predict
3) Data

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28
Q

Artificial Neural Networks

A

the engines of machine learning

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29
Q

Most machine learning applications are designed to perform either (blank) or (blank).

A

1) CLASSIFICATION
2) REGRESSSION

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30
Q

Classification

A

seeks to assign labels, dividing the input into output groups

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31
Q

Regression

A

seeks to predict real numbers

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32
Q

What are the different types of learning?

A

1) SUPERVISED
2) UNSUPERVISED
3 )SEMI-SUPERVISED
4) REINFORCEMENT

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33
Q

Supervised

A

Where the dataset includes matched input-output data for training.

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34
Q

Unsupervised

A

Where the dataset only includes input data for training.

35
Q

Semi-supervised

A

Supervised training but with missing and incorrect output labels in the training dataset.

36
Q

Reinforcement

A

Where the machine learns by trial-and-error learning from feedback as it works toward a desired goal.

37
Q

Confusion Matrix

A

Matrix showing the correct and incorrect classifications after training a machine learning model.

38
Q

Precision Ratio

A

The ratio of correct positive predictions to the total number of positive predictions after training a machine learning model.

39
Q

Recall Ratio

A

The ratio of correct predictions to true positive values in the training dataset.

40
Q

Accuracy Ratio

A

Machine learning performance ratio formed by dividing the correct classifications by the number of values in the dataset.

41
Q

Natural Language Processing (NLP)

A

a branch of AI that allows computers to understand, analyze, and respond to written and spoken human language.

42
Q

Natural language understanding (NLU)

A

subset of NLP that focuses on interpreting the meaning and establishing the proper intent of written and spoken human language.

43
Q

Robotic Process Automation (RPA)

A

is the use of technology, such as AI, to automate structured business processes.

44
Q

True Positive (TP)

A

the correct prediction of positive class

45
Q

True Negative (TN)

A

the correct prediction of negative class

46
Q

False Positive (FP)

A

the incorrect prediction of positive class

47
Q

False Negative (FN)

A

the incorrect prediction of negative class

48
Q

Balanced Scorecard Framework

A

integrating framework that describes organizational performance relative to its strategic objectives across 4 perspectives. Objectives for each perspective describe the strategy in a series of cause-and-effect relationships.

49
Q

What are the 4 perspectives in the Balanced Scorecard Framework?

A

1) Learning & Growth
2) Process
3) Customer
4) Financial

50
Q

Balanced Scorecard management process

A

The process by which companies plan, implement, and monitor performance

51
Q

What are the 5 steps in Balanced Scorecard management process?

A

1) Formulate the strategy
2) Translate the strategy
3) Link the strategy
4) Monitor performance
5) Adapt

52
Q

Business model canvas

A

A one-page representation of the nine building blocks of a company’s business model.

53
Q

learning and growth perspective

A

perspective that describes the organization’s objectives and corresponding measures related to improvements in tangible/intangible infrastructure

54
Q

process perspective

A

perspective that describes the organization’s internal, process-related, objectives and corresponding measures; it views organizational performance from an internal perspective.

55
Q

customer perspective

A

perspective that describes the organization’s customer-related objectives and corresponding customer measures

56
Q

financial perspective

A

perspective that describes the organization’s financial objectives and corresponding financial measures of performance; (shareholders’ perspective)

57
Q

enterprise IT (EIT)

A

A type of information technology that restructures interactions within an organization and with external partners, such as CRM systems.

58
Q

function IT (FIT)

A

A type of information technology that performs/supports a single function, such as spreadsheet applications.

59
Q

information capital

A

intangible asset that reflects the readiness of the company’s technology to support strategic internal processes

60
Q

key performance indicator (KPI)

A

Those measures that the organization feels best indicate the performance of a particular activity.

61
Q

network IT (NIT)

A

A type of information technology that allows people to communicate with one another, such as email and instant messaging.

62
Q

strategy map

A

A one-page representation of the firm’s strategic priorities and the cause-and-effect linkages among those strategic priorities.

63
Q

Val IT

A

An IT investment framework developed by the IT Governance Institute.

64
Q

value proposition

A

Communicates the expected financial benefits of choosing each possible alternative IT investment to help firm’s senior executives decide whether to allocate resources to it

65
Q

What are the 4 process that fall under Process Perspective?

A

1) Operations Management
2) Customer Management
3) Innovation
4) Regulatory & Social

66
Q

Revenue enhancement

A

Creating new sales opportunities

67
Q

Revenue protection

A

protecting existing revenue streams

68
Q

Cost savings

A

opportunities to modify business processes to reduce low value-added or manually intensive activities, to improve capabilities to
manage assets to increase efficiencies, or to reduce errors

69
Q

cost avoidance

A

opportunities to modify business
processes to avoid cost increases in the future.

70
Q

Acquisition costs

A

direct costs to acquire and implement and indirect costs of the disruption to current operations

71
Q

operating costs

A

Direct costs necessary to operate, maintain, and administer the technology & indirect costs of user downtime and lost productivity.

72
Q

What are the 6 types of risks?

A

1) Alignment risk
2) Solution risk
3) Financial risk
4) Project risk
5) Change risk
6) Technological risk

73
Q

Internal rate of return (IRR)

A

discount rate that makes the project’s NPV equal to zero

74
Q

Accounting Rate of Return (ARR)

A

(average annual income from the IT initiative)/ (initial investment cost)

75
Q

Systems Development Life Cycle

A

1) Planning phase
2) Analysis phase
3) Design phase
4) Implementation phase
5) Maintenance phase

76
Q

Project Management

A

is the planning, organizing, supervising and directing of an IT project.

77
Q

Project Manager

A

is the lead member of the project team that is responsible for the project

78
Q

Project Sponsor

A

will often the the SENIOR executive int he company who take s responsibility for the success of the project

79
Q

What are the constraints of IT project?

A

Cost
Scope
Time
which affect the overall quality

80
Q

100% Rule

A

rule requiring 100% planning of all tasks, including all the internal, external, and interim tasks

81
Q

15-15 Rule

A

rule suggesting that is a project is >15% over budget or 15% off the planned schedule, it will likely NEVER recoup the time/cost necessary to be considered successful

82
Q

PERT Chart

A

works to identify all tasks of a project.

83
Q

Gantt Chart

A

graphical representation of the project schedule by mapping the tasks to a project calendar

AIS (2 decks)

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