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ACCT Information Systems > Quiz 1 > Flashcards

Quiz 1 Flashcards

1
Q

3 things Organizations collect data about

A

Events, Resources, and Agents

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2
Q

7 Characteristics of Meaningful Data

A 
Relevant
Reliable
Complete
Timely
Understandable
Verifiable
Accessible
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3
Q

3 Main goals of AIS

A
  1. Collect & record data about events, resources & agents
  2. Transform data into meaningful information for decision making
  3. Provide adequate controls to safeguard a company’s assets & data
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4
Q

Primary Activities

A

provide value to customers

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5
Q

Support Activities

A

allow primary activities to happen seamlessly

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6
Q

5 Primary Activities

A
  1. In Bound Logistics: receiving & storing raw materials used in production
  2. Operations: transformation of materials & labor into a finished product
  3. Out Bound Logistics: distribution of product or service to customer
  4. Marketing & Sales
  5. Service: post-sale support offered to customers
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7
Q

4 Support Activities

A
  1. Firm Infrastructure
  2. HR
  3. Technology: things to improve the product or service (R&D)
  4. Purchasing
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8
Q

the value chain is a subsystem of ______

A

the supply chain

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9
Q

Transaction

A

an event that can be measured in economic terms

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10
Q

5 Transaction cycles

A
  1. Revenue Cycle: interactions with customers
    • gives good/services to get cash
  2. Expenditure Cycle: interactions with suppliers
    • give cash to get materials & supplies
  3. HR/Payroll Cycle: interactions with employees
    • give cash to get labor
  4. Financing Cycle: interactions with investors & creditors
    • give cash get cash
  5. Production Cycle: transform labor.materials into a finished product
    • give materials/labor to get finished goods
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11
Q

4 steps of data processing cycle

A

Data input
Data Storage
Data Processing
Information Output

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12
Q

3 ways to improve the accuracy of data input

A
  1. Turnaround documents: readmit slip sent w/ check
  2. Source Data Automation: ATM
  3. Pre-number Source Documents
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13
Q

Where is data stored?

A

In the ledgers!

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14
Q

How is data stored in ledgers?

A

Using coding techniques!

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15
Q

2 Coding techniques

A
  1. Sequential Coding: assign consecutive numbers to data items to easily find errors - missing numbers or duplicate numbers (source docs)
  2. Block Coding: groups of numbers within a sequence are reserved for a particular category
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16
Q

Chart of accounts

A

lists the general ledger accounts with their account numbers

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17
Q

What is put in the general journal?

A

summaries of transactions - adjusting/closing entries

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18
Q

What is put in the special journals?

A

Nothing special, just repetitive, routine transactions

19
Q

Audit trail

A

sufficient documentation exists to trace a transactions from beg - end or from end - beg

20
Q

Difference between tracing and vouching?

A

Tracing: going from source documents to journals/ledgers (completeness)
Vouching: going from journals/ledgers to source documents (existence)

21
Q

Entity - Attribute - Field

A

Students - Major/GPA - Accounting, 3.9

22
Q

What is a file?

A

a collection of related records

23
Q

How is a database created?

A

set of interrelated, centrally coordinated files

24
Q

4 Common Processing Operations

A
  1. Creating: adding a new item to database
  2. Reading: retrieving & viewing data
  3. Updating: adding new transactions to the database
  4. Deleting: removing data from database
25
Q

Information Output

A

Basic report, Document, Queries

26
Q

2 Forms of Documentation

A
  1. Flow Chart: analytical technique that describes information using a set of standard symbols
  2. Data Flow Diagram (DFD): graphical representation of the sources and destinations of data
27
Q

4 Basic Elements of a DFD

A
  1. Data sources & destinations: SQUARES
  2. Data flows: ARROWS (must be labeled)
  3. Transformation Processes: CIRCLES
  4. Data Store: EQUAL SIGN (file, journal, ledger)
28
Q

File Based Approach

A

create a file every time an information need arose

  • resulted in the same data being stored multiple times
  • made data sharing difficult
29
Q

Database Approach

A

set of interrelated, centrally coordinated files

30
Q

Database Management System (DBMS)

A

acts as an interfase between the database & the application programs that access the database

31
Q

Advantages of a DBMS

A
  1. Minimizes data redundancies / inconsistencies
  2. Allows for data sharing
  3. Allows for data integration
  4. Allows for data independence
    (kept separate from application programs)
  5. Separates logical view from physical view
    logical: how users see & understand the data
    physical: describes where & how data is stored
32
Q

Schema

A

logical structure of a database

- describes data elements stored in the database, the relationship among those elements, and where the data is stored

33
Q

3 Levels of Schema

A
  1. Conceptual: organization wide view of the contents of the relationships among the data elements
  2. External level schema: set of individual user views of portions of the database (logical views) each individual logical view is called a subschema
  3. Internal level schema: describes how and where the data are arranged and stored
34
Q

Any DBMS must allow for the following 3 tasks to occur

A
  1. Create the database
  2. Update the database
  3. Query the database
35
Q

DBMS languages

A

set of commands that allow for three tasks to occur

36
Q

3 DBMS languages

A
  1. Data Definition language: create database (security restrictions & create logical view)
  2. Data Manipulation language: set of commands used to update, add, & delete data from the database
  3. Data Query language: set of commands used to extract data from the database
37
Q

Relational Database

A

represent content of DB as being stored in the form of tables (relations)

38
Q

Data Model

A

abstract representation of the contents of the database

39
Q

tuple

A

each row in the table stores data bout one instance of the entity

40
Q

column

A

stores data about a specific attribute

41
Q

Primary Key

A

attribute of combination of attributes that uniquely identify each row in the table

42
Q

Foreign Key

A

attribute of one table that serves as the primary key in another table
- intent to link the two tables together

43
Q

4 Basic Requirements for building relational tables

A
  1. Every cell must be single-valued
  2. Every table must have a primary key (entity integrity)
  3. If a table has a foreign key, it should correspond to the primary key of another table (Referential Integrity Rule)
  4. All non-key attributes should describe a characteristic of the primary key

ACCT Information Systems (1 decks)

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