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ISB 22C > The Information System > Flashcards

The Information System Flashcards

1
Q

What are the two varieties of internal information flows?

A
  1. Horizaontal flows of information
  2. Vertical flows of information
    a. downward flows
    b. upward flows
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2
Q

_______________ is a business resource that needs to be appropriately managed and is vital to the survival of contemporary businesses.

A

INFORMATION

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3
Q

_________________ is a group of interrelated multiple components or subsystems that serve a common purpose.

A

SYSTEM

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4
Q

A system is called a ______________ when it is viewed as a component of a larger system.

A

SUBSYSTEM

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5
Q

A subsystem is considered a _______________ when it is the focus of attention.

A

SYSTEM

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6
Q

________________ is the process of dividing the system into smaller subsystem parts.

A

SYSTEM DECOMPOSITION

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7
Q

A system wherein distinct parts are not self-contained, as they are reliant on the functioning of the other parts of the system.

A

SYSTEM INTERDEPENDENCY

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8
Q

____________________ is the set of formal procedures by which data is collected, processed into information, and distributed to users.

A

INFORMATION SYSTEM

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9
Q

A ___________ is a business event.

A

TRANSACTION

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10
Q

What are the two different types of transactions?

A
  1. Financial transactions
  2. Nonfinancial transactions
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11
Q

It is a system that identifies, collects, processes, and communicates economic information about a firm using a wide variety of technologies.

A

ACCOUNTING INFORMATION SYSTEMS

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12
Q

An Accounting Information System processes financial and nonfinancial transactions that directly affect the processing of financial transactions. On the other hand, _________________ processes nonfinancial transactions that are not normally processed by traditional AIS.

A

MANAGEMENT INFORMATION SYSTEMS

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13
Q

Name three AIS Subsystems.

A
  1. Transaction processing system
  2. General Ledger or Financial Reporting System
  3. Management Reporting System
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14
Q

This is an AIS subsystem that supports daily business operations.

A

Transaction processing system

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15
Q

This is an AIS subsystem that produces financial statements and reports.

A

General Ledger or Financial Reporting System

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16
Q

This is an AIS subsytem that produces special-purpose reports for internal use.

A

Management Reporting System

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17
Q

_________________ are financial transactions that enter the information system from internal and external sources.

A

DATA SOURCES

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18
Q

__________________are the most common source of data for most organizations.

A

EXTERNAL FINANCIAL TRANSACTIONS

19
Q

__________________ involve the exchange or movement of resources within the organization.

A

INTERNAL FINANCIAL TRANSACTIONS

20
Q

What are the four functions for transforming data into information according to the general AIS model?

A
  1. Data Collection
  2. Data Processing
  3. Data Management
  4. Information Generation
21
Q

This function includes capturing transaction data, recording data onto forms, and validating and editing the data.

A

DATA COLLECTION

22
Q

This function includes classifying, transcribing, sorting, batching, merging, calculating, summarizing, and comparing data.

A

DATA PROCESSING

23
Q

This function includes storing, retrieving, and deleting data.

A

DATA MANAGEMENT

24
Q

This function includes compiling, arranging, formatting and presenting data.

A

INFORMATION GENERATION

25
Q

What are the five characteristics of useful information?

A
  1. Relevance
  2. Timeliness
  3. Accuracy
  4. Completeness
  5. Summarization
26
Q

What are the three goals of an information system?

A

To suport:
1. the stewardship function of management
2. management’s decision making
3. the firm’s day-to-day operations

27
Q

_____________________ is a very common method of organizing.

A

SEGMENTING BY BUSINESS FUNCTION

28
Q

Information reliabilty requires _______________________________

A

ACCOUNTING INDEPENDENCE

29
Q

There are two ranges of the computer services function. Most companies fall between these two ranges. What are these two ranges?

A
  1. Distributed Data Processing
  2. Centralized Data Processing
30
Q

This Computer Services Function involves reorganizing the computer services function into small information processing units that are distributed to end users and placed under their control.

A

DISTRIBUTED DATA PROCESSING

31
Q

This Computer Services Function involves all data processing being performed by one or more large computers housed at a central site that serves users throughout the organization.

A

CENTRALIZED DATA PROCESSING

32
Q

What are four potential advantages of a distributed processing system?

A
  1. Cost reductions
  2. Improved cost control responsibility
  3. Improved user satisfaction
  4. Backup of data
33
Q

What are the seven potential disadvantages of a distributed processing system?

A
  1. Loss of control
  2. Mismanagement of company resources
  3. Hardware and software incompatibility
  4. Redundant tasks and data
  5. Consolidating tasks usually segregated
  6. Difficulty attracting qualified personnel
  7. Lack of standards
34
Q

____________________ is a model where transaction processing, information processing, and accounting are physically performed by people, usually using paper documents.

A

MANUAL PROCESSING MODEL

35
Q

What are five data redundancy problems?

A
  1. Data storage
  2. Data updating
  3. Currency of information
  4. Task-data dependency
  5. Data integration
36
Q

____________________ is an accounting framework for modeling an organization’s economic resources, events, agents, and interrelationships among these facets of the organization.

A

REA MODEL

37
Q

________________________ are often used to model interrelationships among resources, events, and agents as seen in the REA Model.

A

Entity-relationship diagrams

38
Q

The accounting function is responsible for the physical system, while the computer function is responsible for the conceptual system. True or False?

A

FALSE. The accounting function is responsible for the conceptual system, while the computer function is responsible for the physical system.

39
Q

The_______________________ determines the nature of the information required, its sources, its destination, and the accounting rules that must be applied.

a. conceptual system
b. physical system

A

conceptual system

40
Q

What are the three functions of accountants in the information system?

A
  1. Information System Users
  2. System Designers
  3. System Auditors
41
Q

These accountants attest to fairness of financial statements.

A

EXTERNAL AUDITORS

42
Q

These accountants evaluate IT, often as part of external audit.

A

IT AUDITORS

43
Q

These accountants provide in-house IS and IT appraisal services.

A

INTERNAL AUDITORS

ISB 22C (7 decks)

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