Week 2 - Lecture

Question 1

What’s a system?

Answer 1

A set of detailed methods, procedures, and routines that carry out specific activities, perform a duty, achieve goals or objectives, or solve one or more problems.

Question 2

What’s data?

Answer 2

Facts that are collected, recorded, stored, and processed by an information system.

Question 3

What’s information?

Answer 3

Data that have been organised and processed to provide meaning and context that can improve the decision making process. Users tend to make better decisions as the quantity and quality of information increases.

Question 4

What’re the accounting ledgers?

Answer 4

General, receivables and payables eldger.

Question 5

How do accounting systems work within an organisation?

Answer 5

Data > AIS > Information > User/AIS > Decision