AIS

Output

A monthly sales report produced by an information system would be an example of a(n) ____________ activity.

either manual or computerized systems

Accounting Information Systems include _________________.

Financial and Non-Financial information

Accounting information systems provide decision makers

records, processes, summarizes and reports on business transactions

An accounting information system is defined as a system that

Transaction

An accounting information system is defined as a system that records, processes and reports on business ____________________

Timely

An attribute of relevant information is: the information is _________.

Predictive value

An attribute of relevant information is: the information provides _________.

Verifiability

An attribute of reliable information is the information is ______________.

complete

As part of the faithful representation attribute of useful information, the information that contains all monetary transactions and doesn't miss any would be _____.

Neutrality

Attributes of reliable information include representational faithfulness, verifiability, and _________

Input devices

Capture information from source documents and enable its transfer to information processing.

False

Data that collects the characteristics of different transactions has great value to an organization. T/F

business event

In the information value chain presented in the book, what precedes the collection of data?

Data

In the information value chain presented in the book, what precedes the receipt of information?

data

In the information value chain presented in the book, what precedes the receipt of information?

Source documents

Information for entries that can be in either paper or electronic form.

users

Information is defined as data organized in a meaningful way to be useful to the

Mandatory information

Information produced for investors, banks, the SEC and the IRS would be considered ______________.

Faithful representation

Information that is not designed to lead users to accept or reject any specific decision would be an attribute of __________.

Relevant Information

Information which helps users evaluate how past decisions actually worked would be an attribute of __________.

Relevant Information

Information which helps users predict what will happen in the future would be an attribute of

Information storage

Keeps data in a form accessible to information processors.

False

Management is required to produce discretionary information due to regulatory requirements.

discretionary information

Managerial accounting information is generally produced for internal information purposes and would be considered to be ____________.

Output devices

Means to take information out of an accounting system and make it available to users.

Faithful representation

Neutrality, or information without bias, would be considered a component of ________, which are critical for providing useful accounting information.

faithful representation

Neutrality, or information without bias, would be considered a component of ________, which are critical for providing useful accounting information.

Flexibility principle

Prescribes that a system be adaptable to changes in the company, environment, and user needs.

Compatibility principle

Prescribes that a system conform with a company's activities, personnel, and structure.

Control principle

Prescribes that a system have internal controls.

Relevance principle

Prescribes that a system report useful, understandable, timely, and pertinent information.

Cost-benefit principle

Prescribes that benefits from an activity in a system outweigh the costs.

data

Raw facts that describe the basic characteristics of an event would be defined as _________.

Storage

Recorded transactions that are saved in the cloud would be an example of a(n) ____________ activity in an information system.

Information processors

Systems that interpret, transform, and summarize information for use.

Predictive value

To be relevant, the attributes of AIS information should have feedback value, ______, and be material.

Be a faithful representation

To be useful to decision makers, information from an AIS must be both relevant and __________.

Neutral

To have faithful representation, the attributes of AIS information should be complete, ______, and free from error.

False

To produce data, information is often processed and then combined with the appropriate context. T/F

False

Too much information is not possible. T/F

Information overload

______ is the difficulty a person faces in understanding a problem and making a decision when faced with too much information.