AIS Exam 1

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relevant

Characteristics of useful: -reduces uncertainty -improves decision making -applicable and helpful

objective

Characteristics of useful: -unbiased -unprejudiced -impartial

Access restricted

Characteristics of useful: able to limit access to authorized parties

current

Characteristics of useful: includes events and activitiy data up to the present data and time

reputable

Characteristics of useful: perceived as true and credible due to highly regarded source or content

consistent

Characteristics of useful: presented in same formate over time

timely

Characteristics of useful: provided in time for decision makers to make decisions

Verifiable

Characteristics of useful: same information produced by two independent, knowledgeable people

Data analytics

What is: use of software and algorithms to find and solve problems and improve business performance

cloud computing

What is: using a browser to remotely access software, data storage, hardware, and applications

Support activities

What is: value chain activities such as firm infrastructure, technology, purchasing, and human resources that enable primary activities to be performed efficiently and effectively.

primary activities

What is: value chain activities that produce, market, and deliver products and services to customers and provide post delivery service and support

goal congruence

What is: when a subsystem achieves its golas while contributing to the organization's overall goal

goal conflict

What is: when a subsystem's goals are inconsistent with the goals of another subsystem or the system as a whole

expenditures

What cycle: pay for raw materials

expenditures

What cycle: pay property taxes on office building

human resources/payroll

What cycle: pay sales commissions

expenditures

What cycle: pay utility bills

expenditure

What cycle: purchase raw materials

production

What cycle: put purchased goods into the warehouse

human resources/payroll

What cycle: record factory employee timecards

expenditures

What cycle: record goods received from vendor

revenue

What cycle: sell DVD player

revenue

What cycle: sell concert tickets

expenditure

What cycle: send an order to a vendor

human resources/payroll

What cycle: send new employees to a business ethics course

revenue

What cycle: update the allowance for uncollectible accounts

eXtensible Business Reporting Language

What does XBRL stand for

formal

What information system: have an explicity responsibility to produce information

acquiring inventory

A performance report about all approved vendors during the previous 12 months is information MOST needed in which business process?

product quality, efficiency, knowledge

A well-designed AIS can add value to an organization by improving ___ ___ , improving ___, and shairng ___

uncertainty, decisions, plan and schedule

Benefits of information include: -reduced ___ -improved ___ -improved ability to ____ and____ activities

activities, resources, people

Businesses need to collect data about ___ that take place, the ___ affected by the activities, and the ___ who participate in the activity

Available

Characteristics of useful: -Available to users when needed -in a format that can be easily and quickly used

concise

Characteristics of useful: -clear, succinct -appropriate volume presented briefly but comprehensively

accurate

Characteristics of useful: -correct -free of error -accurately represents events and activities

complete

Characteristics of useful: -does not omit aspects of events or activities -of enough breadth and depth

useable

Characteristics of useful: -easy to use for different tasks -human and machine readable

understandable

Characteristics of useful: -presented in a useful and intelligible format -easily comprehended and interpreted

machine-readable

Data is most used when it is in ____ format

revenue

In which business cycle are goods shipped to a customer?

revenue

In which cycle does a company ship goods to customers

decision-making , cost

Informaiton overload is when exceeding the amoung of informaotin a human mind can absorb and process, resulting in a decline in ____ quality and an increase in the ___ of providing information

collecting, processing, managing, and reporting

Information system is an organized way of ___, ___, ___, and ___ information so that an organization can achieve its objective and goals

store, retrieve, transmit, and manipulate

Information technology (IT) is the computers and other electornic devices used to ___,___,__, and ___ data

financing

What cycle: draw upon line of credit

information

One function of AIS is transforming data into usefull ___

revenue

What cycle: establish a $10,000 credit limit for a new customer

primary

Service is a ___ activity

outbound logisitics

Shipping newly manufactured phones to retailers and customers is an example of which type of primary activity?

human resources/payroll

What cycle: hire a new assistant controller

financing cycle

What cycle: obtain a bank loan

human resources/payroll

What cycle: pay federal payroll taxes

people, procedures and instructions, data, software, information technology infrastructure, and internal controls and secruity measures

What are the 6 components of an AIS?

capture, process, store, produce

What are the steps withing transaction processing?

revenue

What cycle: Collect payment on customer accounts

revenue

What cycle: Complete a picking ticket for a customer order

financing

What cycle: Pay off mortgage on factory

production

What cycle: decide how many units to make next month

human resources/payroll

What cycle: disburse payroll checks to factory workers

informal

What information system: meets a need that is not satisfied by a formal channel and operated without formal designation or responsibility

inbound logisitics

What is an example of a primary activity?

human resources

What is an example of a secondary activity?

conversion cycle

What is another name for the production cycle?

benefits of information - cost of producing

What is the formula for the value of information ?

system

What is: (1) two or more interrelated components that interact to achieve a goal, often composed of subsystems that support the larger system (2) the equipment and programs that comprise a complete computer installation (3) the detailed methods, procedures, and routines that carry out specific activities, perform a duty, achieve goals or objectives, or solve one or more problem

Accounting Information System (AIS)

What is: A system that collects, records, stores, and processes data to produce information for decisions makers. It includes people, procedures and instructions, data, software, infromatoint echnology infrastructure, and internal controls and security measures

Accounting

What is: The systematic and comprehensive recording of an organization's financial transactions, including summarizing, analyzing, and reporting these transactions to all users

Artificial intelligence (AI)

What is: The use of computer systems to simulate human intelligence processes such as learning, reasoning, and self-improvement

business process

What is: a set of related, coordinated, and structured activities and tasks, performed by a person, a computer, or a machine, that helps accomplish a specific organizational goal

XBRL

What is: a variant of eXtensible Markup Language specifically designed for use in communicating the content of financial data -it does this by creating tags for each data intem that look much like the tags used by HTML

human resources/payroll cycle

What is: activities associated with hiring, training, compensating, evaluting, promoting, and terminating employees

financing cycle

What is: activities associated with raising money by selling shares in the company to investors and borrwing money as well as paying dividends and interest

transaction

What is: an agreement between two entities to exchange goods or services, such as selling inventory in exchange for cash; any other event that can be measured in economic terms by an organization

supply chain

What is: an extended system that includes an organization's value chain as well as its suppliers, distributors, and customers

Chain

What is: blocks linked together using cryptography in a single list

machine-readable

What is: data in a format that can be read and processed by a computer

information

What is: data that have been organized and processed to provide meaning and improve decision making

internet of things (IoT)

What is: embedding sensors in devices so they can connect to the internet

information overload

What is: exceeding the amount of information a human mind can absorb and process, resulting in a decline in decision-making quality and an increase in the cost of providing information

Data

What is: facts that are collected, recorded, stored, and processed by an information syste,

Blocks

What is: individual digital records

general ledge and reporting system

What is: information-processing operations involved in updating the general ledge and preparing reports for both management and external parties

Data dashboard

What is: interactive rela-time display of key indicators of operating performance; display of important data points, metrics, and key performance indicators in easily understood data visualizations such as line or bar charts, tables, or gauges

value chain

What is: linking all primary and support activities in a business. Value is added as a product passes through the chain

transaction processing

What is: process of capturing transaction data, processing it, storing it for later us, and producing information output, such as a managerial report or a financial statement

virtualization

What is: running multiple systems simultaneously on one physical computer

blockchain

What is: the ___ isn't stored in a single location. Instead, it is a distributed ledger of hashed documents that functions as a decentralized database. Each computer in the distributed peer-to-peer network maintains a copy of the ledger to prevent a single point of failure

value of information

What is: the benefit provided by information minus the cost of producing it

information technology (IT)

What is: the computers and other electronic devices used to store, retreive, transmit, and manipulate data

Business processes or transaction cycles

What is: the major give-getexchanges that occur frequently in most companies

information system

What is: the people and technologies in an organization that produce information. It is an organized way of collecting processing, managing, and reporting infromatoin so that an organization can achieve its objective goals

revenue cycle

What is: the recurring set of business activities and data processing operations associated with selling goods and services in exchange for cash or a future promise to receive cash

give-get exchange

What is: transactions that happen a great many times, such as giving up cash to get inventory from a supplier and giving employees a paycheck in exchange for their labor

Accessible

Which of the following characteristics of useful information is absent in the situation described above? - Joey Smith has been the controller of Nadia Cake for the past 5 years. The owners of Nadia have recently decided to expand their operation and are in the process of obtaining a loan from a local bank. In order to be qualified for the loan, the bank asks Nadia to conduct an audit of the financial records. The auditors have been unable to obtain Nadia's financial statements that were prepared by Joey. While there is no evidence of wrongdoing, the auditors are not able to complete the audit. Which of the following characteristics of useful informatino is absent in the situation described above?

expenditure

Which transaction cycle includes interactiosn between an organization and its suppliers?

information, data

___ is output, and ___ are input

support

in the value chain concept, upgrading IT is considered what kind of activity?

expenditure

receiving and storing inventory is an activity in which transaction cycle?

production cycle

what is: the recurring set of business activities and related data processing operations associated with using labor, raw materials, and equipment to produce finished goods


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