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