Financial Information Flashcards
1
Q
Qualitative Chariacteristics that make financial statements useful
A
Understandibility
Relevance
Reliability
Comparibility
2
Q
Effective Information
A
CATIVA Completeness Accuracy Timeliness Inalterability Verifiable Assessable
3
Q
What is an Executive Support System?
Decision Support System?
A
ESS = data from external sources, helps unstructured decisions - FOR TOP MANAGEMENT DSS = data and analytical models, helps semi-structured and unstructured decision
4
Q
Secure Information system Qualities
A
ACIANA Availability Confidnetiality Integrity Authenticity Non-repudiation Authorisation
5
Q
Role of Recording Financial Transactions
A
Ensuring business has accurate record of revenue, expenses etc.
6
Q
Role of Management Accounting
A
Information to assist managers, budgeting, pricing
7
Q
Role of Treasury Management
A
Cash budgets, Long term finance, Working Capital,
Funding
8
Q
Role of Financial Reporting
A
External - tax, financial statements, regulators
