S2 M2 Flashcards
What is Enterprise Resource Planning
Cross functional systems that support different business functions and facilitate integration of information
What is Accounting Information Systems
Collects, records, and stores accounting info
What are the three AIS Sub systems
Transaction processing system - converts economic events into financial transactions
Financial Reporting System - allows for timely regulatory and financial reporting
Management Reporting System - provides internal financial info to solve day to day problems
Sequence of events for AIS
- Transaction data is entered
- Original source docs are filed
- Transactions are recorded in journal
- Transactions are posted to GL
- TB is made
- Adjustments are made
- FS are generated
What is automation
Using computer programs designed to perform repetitive tasks
What are Shared Services
Combining redundant services in an organization
What is outsourcing
The contracting of services to an external provider
Outsourcing risks and definitions
Quality Risk - outsourced product might be defective
Quality of Service - poorly designed service agreements may impede quality of service
Productivity - Productivity may be reduced
Staff turnover - staff whose jobs have been outsourced may quit
Language Skills - Language barriers may reduce quality of service
Security - Security with 3rd party may be compromised
Qualifications of outsourcers - service provider credentials may be flawed
Labor insecurity - increases when jobs move to an external service provider
Offshore Operations
Outsourcing services to an external party in a different country
What is Robotic Process Automation
Use of programs to preform repetitive tasks that do not requite skilled human labor
What is Natural Language Processing
Technology developed and used to encode, decode and interpret human languages do tech can perform tasks, interact with other humans, or carry out commands
What is a neural network
Form of technology that is modeled after neurons that facilitate the function of human or animal memory
Learns from prior trends based on inputs
5 Trust service criteria
Security
Availability
Processing Integrity
Confidentiality
Privacy
