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.