Managing Information Flashcards
What is the link between Management accounting and information systems?
IS provide information for planning, control, decision making and performance management
Why are information systems needed?
Process efficiency Facilitating communication Inventory control HR Management Sales and marketing
Benefits of information systems?
Competitive advantage
Access to quality information quickly
Ability to share information quickly
Better decisions
Types of information costs?
Direct data capture
Process costs
Indirect costs of producing internal information
Networks
Resource sharing
Storage requirement reduction
Software cost reduction
Intranets
Organisation wide network
Sharing information internally
The internet
Public network
Wireless technology
Remote working and increased mobility
Increased productivity
Reduced costs as business expands
Extranet
An intranet that authorised parties outside organisation can access
Cloud computing
Reduced IT costs
Safe storage
Improved access
Reports
Cost/benefit analysis first
Prototype
Check for duplications
Distribution
Ensure security for storage and disposal
Internal sources of information
Accounting records and other systems
External sources of information
More relevant to strategic decisions
Consumer panels, suppliers, internet, associations
Control
Control is achieved through feedback
