Acct 3303
In the information value chain presented in the book, what precedes the collection of data? Business event Information
Business event
Which of the following symbols represent events in BPMN? Rectangles Dashed arrow Circles Diamonds
Circles
Which software manages sales and market for current sales and customer service? Customer Relationship Management Software Customer Revenue Management Software Customer Service Relationship Software
Customer Relationship Management Software
Which software manages sales and market for current sales and customer service? Customer Revenue Management Software Customer Service Relationship Software Customer Relationship Management Software
Customer Relationship Management Software
Which software manages sales and market for current sales and customer service? Customer Service Relationship Software Customer Revenue Management Software Customer Relationship Management Software
Customer Relationship Management Software
Each process must show a sequential flow from a START event continuously through process activities to which of the follow? Intermediate ERROR event Intermediate TIMER event End event Parallel Gateway
End event
Branching gateways reflect decisions. True False
False
What is a primary activity of the value chain? Information Technology Firm Infrastructure Inbound logistics
Inbound logistics
Which of the following is true about sequence flows? Sequence flows become message flows when they span pools. Sequence flows must start and end within one pool. Sequence flows do not span multiple pools. Sequence flows cannot cross lane boundaries.
Sequence flows do not span multiple pools.
Which of the following is true with respect to branching gateways? They end the process if the question is not true. They make a decision and direct flow. They direct flow based on the answer to a question. They combine multiple flows into one based on the answer to a question.
They direct flow based on the answer to a question.
task names should begin with a verb. True False
True
An activity model describes the sequence of workflow in a relational database. a business process. external events. business communication.
a business process.
Depending on the diagram's level of detail, _____ represent processes, subprocesses or tasks. gateways annotations events activities
activities
Workflow models must describe all of the following except division of activity. activities outside of the process. activities within the process. decision points that affect flow.
activities outside of the process.
Sequence flow is represented by an _____
arrow
Similar to sequence flows in BPMN, message flows are modeled as arrows, but message flows are ____ arrows.
dashed
Gateways show process branching and merging as the result of _____. annotations activities decisions events
decisions
In BPMN, gateways are represented by a: diamond arrow rectangle circle
diamond
In BPMN, a sequence flow indicates the _____ of activity in a business process.
flow
A circle with a double-line perimeter represents an _______ event.
intermediate
In BPMN, organizations are modeled as pools and departments within organizations are modeled _____ as within a pool.
lanes
BPMN models should describe the ____ of a business process unambiguously.
logic
In BPMN, gateways show branching and _____ as the result of decisions.
merging
A token travels along sequence flows but does not traverse _____ flows.
message
In BPMN, the interaction between two pools is modeled as a ____ flow.
message
Events include all of the following except end. start. intermediate. middle.
middle.
The organization that maintains the specification for BPMN (business process modeling notation) is the _____ Management Group (OMG).
object
An external pool can be _____ in order to focus on message flows between the pools.
opaque
In BPMN, activities represent specific _____ in the business process.
steps
Recorded transactions that are saved in the cloud would be an example of a(n) ____________ activity in an information system. storage input output processing
storage
Business models create value in all of the following ways except: reconciling viewpoints managing compliance supporting processes managing complexity specifying requirements
supporting processes
When a product passes through value-enhancing activities, the process is called the _______________. supply chain value process value chain
value chain
Documentation explains how business processes and business systems
work
______ models are tools used for planning, documenting, discussing, and implementing systems.
Activity
What would be the most appropriate designation for a professional who serves as an IT auditor? Certified Information Systems Auditor (CISA) Certified Internal Auditor (CIA) Certified Information Technology Professional (CITP)
Certified Information Systems Auditor (CISA)
What would be the most appropriate designation for a professional who serves as an IT auditor? Certified Information Technology Professional (CITP) Certified Internal Auditor (CIA) Certified Information Systems Auditor (CISA)
Certified Information Systems Auditor (CISA)
What would be an appropriate designation for a CPA with a broad range of technology knowledge and experience? Certified Internal Auditor (CIA) Certified Information Technology Professional (CITP) Certified Information Systems Auditor (CISA) Certified Public Accountant (CPA)
Certified Information Technology Professional (CITP)
_____ manages the interaction between the company and its customer, from initial lead to customer service after the sale. Customer Relationship Management Software Customer Service Relationship Software Customer Revenue Management Software
Customer Relationship Management Software
In the information value chain presented in the book, what precedes the receipt of information? Data Knowledge
Data
A business process is a ______ sequence of activities that uses resources to transform specific inputs into outputs to achieve a business goal.
Defined
Which system can significantly lower the cost of support processes included in sales, general and administrative expenses (SG&A)? Customer Relationship Management System Enterprise System
Enterprise System
True or false: Data that simply collects the characteristics of different transactions has great value to an organization. True False
False
True or false: Management is required to produce discretionary information due to regulatory requirements. True False
False
True or false: Management must maintain evidential matter, including documentation, to provide reasonable support that it has established adequate internal control structures and procedures. True False
False
True or false: Raising capital is an activity in the Accounting/Finance Operations role of accountants. True False
False
True or false: Rapid changes in the global marketplace that affect the accounting profession have resulted in a focus on accountings' stewardship and reporting functions. True False
False
True or false: Supply chain is the term used to describe a firm's interactions with its current and potential clients.
False
True or false: To produce data, information is often processed and then combined with the appropriate context. True False
False
True or false: Too much information is not possible. True False
False
_____ would generally be considered the first primary activity in the value chain. Services Inbound logistics Operations Marketing
Inbound logistics
What is the IT strategic role that uses technology to provide information about business activities to senior management or to employees across the firm? Informate Transform Automate
Informate
The International Federation of Accountants suggests that accounting can hardly be viewed separately from which field? Information Technology Marketing Firm Management
Information Technology
______ is the difficulty a person faces in understanding a problem and making a decision when faced with too much information. Information overload Information deficit Information avalanche
Information overload
What is a primary activity of the value chain? Firm Infrastructure Outbound logistics Accounting
Outbound logistics
What is a primary activity of the value chain? Outbound logistics Firm Infrastructure Accounting
Outbound logistics
Which of the following is NOT a skill area in the IMA Management Accounting Competency Framework? Strategic management Leadership People skills Reporting and control Technology and analytics
People skills
Which of the following is a business management support of the accounting/finance function? Processing payroll Financial consolidation and reporting People management Performance measurement, reporting and analysis Tax return preparation
Performance measurement, reporting and analysis
Which of the following is a business management support of the accounting/finance function? Processing payroll People management Tax return preparation Performance measurement, reporting and analysis Financial consolidation and reporting
Performance measurement, reporting and analysis
Which of the following is a business management support of the accounting/finance function? Tax return preparation People management Financial consolidation and reporting Performance measurement, reporting and analysis Processing payroll
Performance measurement, reporting and analysis
What is a supporting activity of the value chain? Inbound Logistics Procurement Marketing Operations
Procurement
What is a supporting activity of the value chain? Marketing Operations Inbound Logistics Procurement
Procurement
Which of the following is a stewardship and reporting role for the accounting/finance function? Cost management Planning and budgeting Regulatory compliance Investment appraisal Financial consolidation and reporting
Regulatory compliance
Which of the following is a stewardship and reporting role for the accounting/finance function? Planning and budgeting Financial consolidation and reporting Investment appraisal Cost management Regulatory compliance
Regulatory compliance
Which of the following is not one of the sets of skills in the CGMA Competency Framework? People skills Business skills Technical skills Leadership skills Reporting and control
Reporting and control
Which of the following is included in Accountants' Stewardship and Reporting role? (Check all that apply). Risk Assessment Statutory Reporting Investor Relations Managing accounting staff Providing Management Information
Statutory Reporting Investor Relations
What process refers to the flow of materials, information, payments and services from raw materials suppliers to the final customer? Value chain Production chain Supply chain
Supply chain
Which information system is most likely to impact the total cost of goods sold line item? Customer Relationship Management software Supply chain management software
Supply chain management software
What is a support activity of the value chain? Outbound logistics Service Technology Inbound logistics
Technology
What is the IT strategic role that fundamentally redefines business process and relationships through the use of technology? Automate Informate Transform
Transform
True or false: A business model is an abstract, simplified, representation of business processes. True False
True
True or false: Activity models show the sequence of workflow tasks in a business process. True False
True
True or false: Although rapid changes in technology increase the amount of information available, the information must support the information requirements of the business decision makers to be fully effective. True False
True
True or false: The type and extent of documentation depends on the nature of the business's products and processes as well as the nature of the organization. True False
True
An activity model describes the sequence of workflow in external events. a relational database. business communication. a business process.
a business process.
The accounting/finance operations role includes financial close - completing period-end _____
accounts
The accounting/finance operations role includes financial close - completing period-end ______
accounts
Business _____ is the process of defining business process requirements and evaluating potential improvements.
analysis
Accountants gather information relevant in solving business problems, create or extract that information, and then ______ the information to solve the problem. analyze manipulate present
analyze
Discretionary information should only be produced if the costs _________________________. are less than the benefits of using that information outweigh the benefits of using that information of data collection are minimal
are less than the benefits of using that information
To be useful to decision makers, information from an AIS must be both relevant and __________. be a faithful representation exhibit high quality reliable
be a faithful representation
To be useful to decision makers, information from an AIS must be both relevant and __________. reliable exhibit high quality be a faithful representation
be a faithful representation
The roles of the accounting/finance function include stewardship and reporting, accounting operation, and ________ management support.
business
A graphical representation presents information more _____ than a written description.
concisely
An attribute of relevant information is: the information is _________. confirmatory verifiable neutral
confirmatory
Raw facts that describe the basic characteristics of an event would be defined as _________. data decision information
data
Raw facts that describe the basic characteristics of an event would be defined as _________. decision data information
data
Technology does not necessarily result in better decisions, because the information produced may not support the information requirements of the business's ________ makers.
decision
Accountants serving in a _______ capacity must have significant practical exposure to the key phases of systems analysis and design, including preparation of the feasibility analysis and data file design and documentation. manager user designer
designer
Activity-based costing would be an example of ____________. mandatory information audited information discretionary information
discretionary information
Managerial accounting information is generally produced for internal information purposes and would be considered to be ____________. discretionary information mandatory information
discretionary information
Accounting Information Systems include _________________. computerized systems exclusively either manual or computerized systems manual systems exclusively
either manual or computerized systems
A(n) _______ system is a centralized database that collects data from throughout the firm.
enterprise
A(n) _________ system serves as a central depository for information from orders, customers, sales, inventory, and employees.
enterprise
The CGMA Competency Framework describes four broad sets of skills anchored by a commitment to ______ , integrity, and professionalism.
ethics
An IT auditor serves as a(n) ____________ of the accounting information system. manager evaluator designer
evaluator
External auditors accessing their client's accounting information system would be serving the accountant's role in an accounting information system of a(n) _____. designer evaluator manager user
evaluator
When auditors assess the internal controls in an AIS as part of the Sarbanes-Oxley Act, they are serving in their role as a(n) __________ of the system.
evaluator
Documentation is important to businesses for all of the following reasons except: facilitating tax reporting describing current processes facilitating process improvement standardized interactions training
facilitating tax reporting
Information that is not designed to lead users to accept or reject any specific decision would be an attribute of __________. relevant information financial information faithful representation
faithful representation
Neutrality, or information without bias, would be considered a component of ________, which are critical for providing useful accounting information. faithful representation reliability relevance
faithful representation
Accounting information systems provide decision makers _____________________. nonfinancial information only financial information only financial and nonfinancial information
financial and nonfinancial information
The CGMA Competency Framework classifies skills into _____ important sets.
four
An attribute of faithful representation is the information is ______________. helpfulness free from error timeliness
free from error
The IMA Management Accounting Competency Framework states that accountants must be able to develop financial plans consistent with the organization's strategic _____ .
goals
To be relevant, the attributes of AIS information should have feedback value, ______, and be material. be complete have predictive value exhibit neutrality
have predictive value
Business analysis includes all of the following except: communicating information about current and future business processes. using business process modeling tools. implementing technological improvements. defining business process requirements.
implementing technological improvements.
Performance ______ is an accounting function in the Business Management Support role.
management
Performance ____________ is an accounting function in the Business Management Support role. evaluation management compliance
management
Accountants are _____ of accounting information systems when they plan, coordinate, organize, staff, direct and lead those information systems. designer manager evaluator
manager
The four roles of accountants with respect to accounting information systems include user, designer, evaluator and _____. monitor auditor manager planner
manager
A corporate tax return would be considered to be ______________. notional information discretionary information mandatory information optional information
mandatory information
Information produced for investors, banks, the SEC and the IRS would be considered ______________. mandatory information forecasted information discretionary information
mandatory information
A business _____ is a simple, abstract representation of one or more business processes.
model
Business _____ allow the depiction of important features of business processes clearly and concisely. standards systems information models
models
Documentation includes business process_____ , business rules, user manuals, training manuals, and the like.
models
Attributes of faithful representation include complete, free from error and
neutral
To have faithful representation, the attributes of AIS information should be complete, ______, and free from error. relevant reliable neutral
neutral
An attribute of relevant information is: the information provides _________. predictive value neutrality representational faithfulness
predictive value
Which of the following is NOT a role of accountants with respect to technology? programmers designers managers users evaluators
programmers
An accounting information system is defined as a system that _____. gathers, summarizes and reports on accounting transactions records, processes, summarizes and reports on business transactions summarizes and reports on business transactions records and summarizes business transactions
records, processes, summarizes and reports on business transactions
Information which helps users predict what will happen in the future would be an attribute of __________. relevant information neutral information reliable information
relevant information
The Institute of Management Accounting Competency Framework defines ______ areas of skills that accounting professionals need to remain relevant.
six
Documentation is important to auditors since it provides audit _____
trails
Information is defined as data organized in a meaningful way to be useful to the
user
When accountants input journal entries or calculate the cost of a product input, the accountants' role in an accounting information system is that of a _____. evaluator user designer
user
