ACCT 3303 Ch-1
services as a central depository for information from orders, customers, sales, inventory and employees
Enterprise system (ES)
An attribute of reliable information is the information is
venerability
Accountants gather information relevant in solving business problems, create or extract that information, and the
Analyze
In the information value chain presented in the book, what precedes the collection of data?
Business event
What would be the most appropriate designation of a professional who serves as an IT auditors?
Certified Information Systems Auditor (CISA)
What would be an appropriate designation for a CPA with a broad range of technology knowledge and experience?
Certified Information Technology Professional (CITP)
Which software manages sales and market for current sales and customer service?
Customer Relationship Management Software
Raw facts that describe the basic characteristics of an event would be defined as
Data
Activity-based costing would be an example of
Discretionary Information
is a centralized database that collects data from throughout the firm
Enterprise System
External auditors accessing their client;s accounting information system would be serving the accountant's role in an accounting information system of a(n)
Evaluator
To produce data, information is often processed and then combined with the appropriate context
False
Data that collects the characteristics of different transactions has great value to an organization
False- Without context, data has little meaning and little value to an organization
What is the IT strategic role that uses technology to provide information about business activities senior management or to employees across the firm?
Informate
The information Federation of Accountants suggests that accounting can hardly be viewed separately from which field?
Information Technology
Information produced for investors, banks, the SEC and the IRS would be considered
Mandatory information
An attribute of relevant information is the information provides
Predictive value
What is a supporting activity of the value chain?
Procurement
To be useful to decision makes, information from an AIS must be both:
Relevant and reliable
Information which helps users predict what will happen in the future would be an attribute of
Relevant information
Information that is not designed to lead users to accept or reject any specific decision would be an attribute of
Reliable Information
What process refers to the flow of materials, information, payments and services from raw materials supplies to the final customer?
Supply Chain
Which information system is most likely to impact the total cost of goods sold line item?
Supply chain management software
What is a supporting activity of the value chain?
Technology
When a product passes through value-enhancing activities, the process is called the
Value chain
A monthly sales report produced by an information system would be an example of:
an output activity
Discretionary information should only be produced if the costs
are less than the benefits of using that information
As business analysts and information providers, accountants understand what data is needed to solve a problem an rate, thus, in a unique position to serve as a:
designer
Accounting Information Systems include
either manual or computerized
Data that collects the characteristics of different transactions has great value to an organization
false
Supply chain is the term used to describe a firm's interactions with its current and potential clients
false
Accounting information systems provide decision makes
financial and nonfinancial information
What is the primary activity of the value chain?
inbound logistics
Attributes of reliable information include representation faithfulness, venerability and:
neutrality
An attribute of relevant information is the information provides
predictive value
Enterprise System
service as a central depository for information from orders, customers, sales, inventory and employees.
An attribute of relevant information is the information is
timely
An accounting information system is defined as a system that records, processes and reports on
transactions (decisions/transactions)
When auditors assess the internal controls in and AIS as part of the Sarbanes-Oxley Act, they are serving in their role as an evaluator of the system.
true
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
user
